If one California politician got his way, you may have no choice but to allow pets in your rentals. Until then, as a landlord, you have the right to decide whether or not you want to allow pets in a rental property.
The decision is an important one, as there are pros and cons to allowing pet tenants. Going through each will help you decide that the risks are worth the potential benefits.
Pro: Never Worry About Fair Housing Laws
Under federal and California fair housing laws, you cannot discriminate against someone with a disability. This means you cannot reject applicants simply because they have an emotional support or service animal.
When you allow pets, you can easily treat everyone the same. You never have to decipher between pet, emotional support, and service animals.
Pro: Increased Lease Renewals
When tenants are happy with where they live, they are more likely to renew their lease. If you have a great tenant, allowing them to have pets can convince them to renew a lease they might not have otherwise signed.
This prolongs their rental tenure. The longer a tenant stays in your rental, the greater stability you have for your rental ROI.
Pro: More Responsible Tenants
Tenant screening is a much for reducing your risk as a landlord. It also helps improve your chances of placing a high-quality tenant in your rental. While it isn't true for everyone, people with pets exhibit more responsible behavior.
They move less and hold the same job for longer, giving more stability to their lives. This responsibility and stability mean timely rental payments, lease renewals, and better care of your rental property.
Con: Risk of Rental Property Damage
Allowing animals to live in your rental property will increase the amount of wear and tear it experiences. Even well-behaved pets that are perfectly cared for will create property damage. Then, there are poorly trained pets that will cause a significant amount of damage.
You can mitigate this risk by charging your tenant and pet deposit and/or pet rent. That way, you account for possible increased maintenance costs upfront.
Con: Noise Complaints
If your rental property has neighbors, you need to be considerate of them. Moving in a tenant with noisy pets will strain your relationship with them, making your role as the landlord more difficult. Some ordinances and codes may limit noise that your tenant could violate.
Allow Pets in a Rental Property
There is no correct answer to whether or not you should allow pets in a rental property. The best approach is to weigh the pros and cons. Then, make a decision based on your comfort with the risks.
It can help to speak with experienced property managers. The team at PMI Orange County works with homeowners to establish a set of policies that the homeowner can feel comfortable with. That way, they can have confidence in managing their rental property.
Attract more tenants and increase your rental ROI by working with professional property managers from PMI Orange County.
