Landlords have no say about allowing service and support animals in their Virginia rental homes. You can decide whether to allow regular pets in a rental property, though.
Most landlords advertise their homes as pet-free simply because it's easier and less risky, but they're missing out on a major part of the tenant market. America is a pet-loving nation, so many families already own pets or would like to do so in the future.
Before you decide to take the easy way out, read on to find out why you should allow pets in your rental units and how to make a pet-friendly policy work for you.
Pros and Cons of Allowing Pets in a Rental Property
Suitable pet-friendly properties are relatively rare. So, you'll attract more tenant applications when you allow pets in your rental units.
You can also charge higher rent prices for pet-friendly accommodation.
Families with pets consider their animals a part of their families, so they're inclined to go to great lengths to keep pet-friendly accommodations. They're more likely to:
- Renew their leases
- Pay rent on time
- Take excellent care of your property
There are also some drawbacks associated with allowing pets in your home. These risks include:
- Dogs barking or wandering and causing a disturbance
- Lingering odors in your rental unit
- Damage to flooring from pet claws
- Dogs digging up landscaping
- Stained flooring from pet excrement
Setting up stringent pet policies and conducting regular property inspections can help you avoid these problems while enjoying the benefits of owning a pet-friendly rental.
Effective Pet Policies for Landlords
You should compile a specialized lease agreement for pet owners. These landlord pet agreements should include instructions for disposing of pet waste, repairs to damages, and rules for removing pet hair and odors.
Security deposits are an important safeguard against potential costs caused by pet damage. You can charge a higher security deposit or additional rental property pet fees when you allow animals in your rental unit.
Tenant screening is a common procedure when you receive a rental application, and you can extend this policy to include pets. Ask to interview prospective tenants with their pets present. This will help you gauge the animals' level of training and obedience.
A calm, well-trained pet is less likely to cause any problems in your rental property.
Make the Most of Your Richmond Property Investments
Allowing pets in a rental property can help you earn more from your rental property and limit vacancies, but it also carries some risks. Customized tenant screening, regular inspections, and strict pet policies can help you limit damages caused by pets.
Hiring a property management company, like PMI Glen Allen, is the way to navigate the complications associated with pet-friendly rentals. Our team can help you explore all the best options for maximizing your investment property thanks to our comprehensive range of property management services.
We are committed to boosting your profits while ensuring a seamless, hassle-free experience. Sign up for success as a Richmond landlord today.
