THU, 07 FEB 2019 BY LINDA ROSADO
THE PROS OF RENTING OUT PET-FRIENDLY APARTMENTS
THE BENEFITS OF MAKING YOUR APARTMENT COMPLEX PET-FRIENDLY
Managing an apartment complex is much more than a full-time job. You’re always looking for ways to attract new tenants and keep your current ones happy, which can take a lot of time away from your other responsibilities. However, there is a group of renters that is constantly growing, offer more income and can actually make your job easier in the long run—pet owners.
It might seem daunting to open up your doors to pets if you haven’t before, but there are a ton of reasons why pet-friendly apartments have such success. If you’re on the fence about making the transition into being pet friendly, check out how making your apartment community dog ready can be a real treat.
THE AMOUNT OF POSSIBLE TENANTS DRASTICALLY INCREASES
Having a tough time filling up empty apartments? The best way to keep a constant influx of applicants is by including those who can’t apply everywhere. According to the LA Times, “more than 70% of apartment renters reported owning pets,” but pups still aren’t allowed in every complex. Permitting them in yours will certainly open up doors to more tenants and free up time in your schedule.
This new opportunity for a different kind of renter is significant because with more renters to choose from you can be sure to always find those that fit the requirements of your complex. That’s right. You get to be pickier about tenants by listening to their wants and needs.
PET OWNERS MAKE MORE BONES
Parenting a pet can bring on extra costs, but that doesn’t seem to be an issue because pet owners make around $5,200 more per year than those who don’t. That means you may be able to ask for a larger security deposit, charge more for rent and include pet fees to make sure that your complex will be insured.
Administrative processes, like credit checks, are sure to be a breeze when you can expect that most applicants will meet the income requirements and be able to handle any other fees you feel should be included.
MORE LEASES WILL ROLL OVER
Moving isn’t easy, and it’s a lot more difficult when you’ve got a pet to take with you, so tenants with pets will be much more likely to renew leases. Rather than hopping from apartment to apartment, renters with furry friends understand that pet-friendly apartments aren’t easy to come by, and it’s a bigger hassle to make the move with their pup.
Plus, it’s been shown that pet owners live happier lives. In fact, about half of pup parents say their dog has made them more patient, while seven in 10 owners report that their pup has made them happier people. If you reel in more tenants and more that happen to be content, it’s a lot less likely that they’ll feel the need to pack up and start over.
RESPONSIBILITY WON’T BE AN ISSUE
Renters with fur babies are less likely to stir up trouble and bark complaints, and you can also count on them to report issues earlier.
Caring for an animal is no walk in the dog park. It takes a lot of responsibility to make sure that your pup is in good shape, which means that pet-owning renters can be trusted to notice things that are out of the ordinary and make sure that they get resolved quickly.
Paw parents have an additional reason to make their apartment a home, keep it clean and make sure everything is in good shape.
You can rest easier at night knowing that your tenants aren’t going to take advantage of the opportunity to be roommates with Fido.
SECURING THE NEIGHBORHOOD FOR FREE
You might not be ready to install gated security, but tenants will still rest easy knowing that there are plenty of pups in the neighborhood that will be on alert at all times. It’s also a lot more cost effective to secure your neighborhood with products that will make the four-legged tenants happy. A dog that feels at home will be ready to keep it safe.
Any trespasser who sees a play park for kids won’t be alarmed, but seeing a decked-out dog park will alert intruders that pets are more than just welcome. Even by including just a few pup amenities like bone leash posts, dog-shaped three hoop jumps or arched-stepping bones, will let any unwelcome guests know that there are some extra eyes on the neighborhood.
It’s a lot easier for doggie moms and dads to settle down in an apartment that accepts pets and treats them well. They’ll be less likely to break leases and make things ruff for landlords. If you’re thinking of making the transition for your apartment complex, be sure to check out the things that pet parents look for in an apartment community!