You may not believe that San Diego County residents own over 500,000 dogs.
After you factor in cats and other animals, it could be hard to find renters who don't have any pets. This is why landlords need to take a stance on whether they're willing to accept pets in a rental property.
Will pets harm or uplift your rental property business? Read on to expand your knowledge on the pet pros and drawbacks.
Pro: Tenant Retention
Allowing pets in your San Diego rental property can lead to higher tenant retention rates. Many pet owners who have a hard time housing their pet family will feel so grateful for your rental. By welcoming pets, you can establish loyalty among tenants who might stay longer due to limited options available to them.
Con: Bad Smells
One of the most significant drawbacks of allowing pets is the possibility of bad smells. Pets can leave odors that are difficult to eliminate, especially if not cared for by their owners.
Landlords may have to invest extra time and resources in cleaning and deodorizing the property between tenants to ensure a pleasant living environment for future occupants.
Pro: Larger Tenant Pool
Permitting pets can expand your tenant pool. San Diego has a substantial population of pet owners, and restricting them from renting your property could limit your potential market.
Allowing pets opens the door to a broader range of prospective tenants, which boosts your chances of finding suitable renters for your property.
Con: Safety Concerns
While most pets are well-behaved, there's always the risk of accidents or incidents occurring. Landlords must ensure that their rental agreements include provisions for pet-related damages and liabilities. This keeps everyone in the community and the property safe.
Pro: Higher Rent
Pet-friendly accommodations are in demand, and tenants are often willing to settle for higher rent for the privilege of keeping their pets with them. Landlords can capitalize on this demand by setting slightly higher rental rates for pet-friendly properties to increase their rental income.
Con: Property Damage
Pets can be bad news when it comes to rental property damage. This can include the following:
- Scratching floors
- Chewing on furniture
- Soiling carpets
Even behaved pets can cause damage through normal behavior. Landlords may find themselves facing pricey repairs or renovations between tenants if pet damage isn't under control.
Keeping Risks Low
If these drawbacks have startled you, know that there are things you can do to decrease the odds of unpleasant situations. Landlords can have specific guidelines and requirements for pet ownership in their rental properties. This may include the following:
- Restrictions on how many pets and how large they can be
- Needs for pet deposits
- Extra pet rent to cover potential damages
Taking Pets in a Rental Property Is Your Choice
Accepting pets in a rental property in San Diego is all about weighing the risks and perks. If you're not comfortable with any amount of risk, then it's better to steer clear of pets. If you embrace pet owners, take steps to protect your business.
Has running your San Diego rental property business been challenging? Reach out to PMI San Diego to discuss our winning property management solutions. Our company has been uplifting investors for over two decades.
