Having a pet-friendly rental property in Denver has its pros and cons. At Cobalt Creek Property Management, we know that owning a rental unit or building comes with a variety of annual maintenance requirements whether you allow animals or don’t allow animals. Some property owners may think that allowing dogs, cats, or other pets into their rental units will increase the amount of maintenance work and is more of a hassle than it’s worth. But research shows that prospective renters who own dogs or cats may make better tenants, and this may be worth the extra maintenance risk.
Good Reasons To Be Pet-Friendly
The first thing that may come to mind when you’re considering allowing pets in your rental properties is the potential damage they may cause, and we feel that’s a valid concern. However, you may be missing out on good tenants with good credit and references when you eliminate all animals without consideration.
Pet Owners Are Also Responsible Tenants
At Cobalt Creek Property Management, we have found that pet owners are generally more responsible people because they have the 24/7 duty of caring of their pets and will likely be responsible when it comes to taking care of your rental property as well. They may be more inclined to become longer-term tenants, too, because moving with a pet is difficult and they would prefer to stay in one place. If they like their living arrangements, they’re more likely to stay, which means you’ll have less turnover in your rental unit. There are many other reasons to rent your property to pet owners, including:
- Ability to charge a higher monthly rent by adding a pet fee.
- Adding a flat-rate pet fee instead of, or in addition to, higher rent.
- By allowing pets, tenants won’t try to sneak one in, which often costs you more in the long run with unexpected cleaning fees.
Cons To Accepting Pets In Your Rental Units
As we’ve stated above, there are many good reasons to rent to people who own pets—they’re more likely to be reliable renters who are responsible and will take care of their pets and keep their pets quiet so they don’t become a nuisance. But there are two sides to everything and you may want to consider the following when creating your pet policy.
Pets Can Cause Damage
Allowing pets in your rental units may mean damage to walls, doors, and other home features from claws, nails, or chewing. Pet noise can also be a problem, especially if a dog is left alone for long periods of time. Before you establish your pet policy, factor in how you may handle the following situations in your rental unit or building if you allow pets:
- Harder than average wear and tear.
- Stains on floors and carpeting.
- A noise disturbance for other residents.
- Possibly aggravating allergies of other tenants.
- Losing other tenants due to allergies.
- Animal smells that may drift throughout the building.
Let Us Know How We Can Help
Let Cobalt Creek Property Management help you decide if you want your Denver rental home to be pet-friendly. If you’re still not sure what pet policy you should implement, our staff is here to help. We can provide a better perspective by looking at your situation as a third-party. Not every decision you have to make as a property owner is an easy one. Contact us today – we’re here to help you every step of the way.