Before you rent out
your Sacramento property, you’ll need to decide whether or not to allow pets in your property. Should you let tenants move in with dogs and cats?
We’re discussing some of the benefits of welcoming pets into your rental home as well as a few of the risks that you’ll need to consider when making this decision.
Expanding Your Sacramento Tenant Pool
Let’s start with a benefit because it’s a pretty significant one.
When you allow pets into your Sacramento rental property, you will have a lot of renters and potential prospects interested in your property. Studies show that 70 percent of American renters have at least one pet. So, if you’re not allowing pets, you are cutting down a huge percentage of the potential tenants who will be interested in your property.
If your property is not getting a lot of interest because you won’t consider pets, you’re looking at a longer vacancy. When
your property is vacant for a long time, you lose rental income.
Protect your property and reach more tenants by allowing pets but establishing limits. For example, you can set a pet weight limit. We always require renter’s insurance for pets over 40 pounds.
You can also set a pet limit. Usually, there’s a maximum of three pets allowed per property.
A good pet policy will protect your property even while you allow tenants to move in with pets. It means you don’t have to leave your home vacant.
Pet Risks: Sacramento Rental Property Damage
A common risk that a lot of rental property owners worry about is that a tenant’s pet will damage your property. Keep in mind that typically, whatever damage that is caused by a pet will be covered by the security deposit that’s collected before the lease term begins. The majority of pet damage is easily repaired and paid for with the tenant’s deposit.
Increasing Tenant Retention
Here’s another benefit: Renters with pets are more likely to renew their lease agreement at the end of the lease term. This tenant retention is good for you and your investment. It keeps your annual cash flow and income consistent.
Service and Companion Animals in Sacramento
If you’d like to talk through the risks and benefits of allowing pets in your property, please
contact us at Sacramento Delta Property Management. We can help you put together a strong pet policy and even a pet screening process that can help you feel better about allowing pets into your property.
