Anyone who has ever owned a pet knows that it’s impossible not to treat that animal like part of the family. Pet owners are passionate about their furry friends, and this is something you have to think about when renting out a Kelowna home. You also need to consider that most people have at least one pet, which means pet owners make up a large portion of the tenant pool.
As a landlord, you’ll need to decide whether to allow pets in your rental property. There are some very good reasons to be pet-friendly and some equally good reasons to keep your investment home free of animals. Today, we’re talking through the decision.
Kelowna Property Management Advice: Allowing Pets
As a local property management company with a lot of experience renting out homes to tenants, we usually recommend allowing pets, at least on a case-by-case basis. When you allow pets in your rental property, you have a good chance of renting it out to good tenants a lot faster. Your pool of potential tenants will be larger, and you’ll find more residents are interested in renting your home. Reducing vacancy is an excellent reason to provide a pet-friendly property.
You also have the potential to earn more money when you allow pets. Not only can you collect a non-refundable pet fee, you can also increase the rent slightly every month. Charging $25 or $50 in pet rent is a good way to increase your rental income. Tenants with pets rarely mind paying a bit more.
Another good reason to allow pets is that you will often enjoy better tenant retention when you have renters with pets. They understand that it’s not always easy to find a pet-friendly rental property. They won’t want to look for one, and they won’t want to pay another pet fee and go through another detailed screening process. You can count on your pet-owners to renew their lease agreements more consistently.
Kelowna Property Management Advice: Pet Risks
While there are many benefits to allowing pets, there are also some concerns that many Kelowna landlords understandably have. For example, the potential for property damage increases. You might find scratches on your floors and walls, and a particularly energetic dog may dig up your yard.
Odors can often linger, especially when we’re talking about felines, and cleaning will have to be more intense after a tenant who has had a pet. Pet odors and urine can go beyond the carpet. It really soaks into the baseboards and the subflooring of your home. If you have carpet, there may be a need to remove fleas or dog hair. Expect to spend more preparing your home for the rental market after you’ve had a resident with pets.
Kelowna Property Management Advice: Pet Policies Can Help
A sound pet policy will help you feel better about renting to a tenant with pets. You have the option of placing restrictions on the pets you’ll allow. For example, perhaps you’ll want to allow adult animals only; no kittens or puppies. Or, you can impose size restrictions and limit the number of pets you’ll permit to one per tenant. There are plenty of things you can do to minimize your risk. We always recommend collecting an extra deposit or a pet fee.
We think accepting pets is a good idea for your rental home. If you’d like some help protecting your Bellevue rental property while making it a pet-friendly home, contact us at Vantage West Property Management.