One of the most popular topics for our owners and investors is pets. Most of our clients ask about whether or not you should allow a pet in your property. We recommend that you do allow pets, and the main reason is that you reach more potential tenants that way.
Tenants Have Pets
Austin is a pet-friendly city. Most people have pets, and about 75 percent of our applications have dogs or cats listed. So, if you don’t allow pets, you’re missing out on a huge section of the marketplace. We have noticed that the properties with a strict no pet policy tend to sit vacant on the market a little longer, and they rent for less than they would have if pets were allowed.
Allowing pets is a good idea, and you also want to protect yourself and your home against the potential damage that an animal can cause. Put together a strong pet policy and place any restrictions on pets that you’re comfortable with. At AustinVestors, we require an additional pet deposit for new tenants moving in with pets. That money would cover any additional damage that might be the result of the pet. The reality is that most pet owners are responsible tenants. They’re going to take care of their pets and they are going to repair any damage that’s caused.
It’s not a good idea to get too worried about the potential for pet damage. Not only is it unlikely, it’s also less expensive than a vacant property. If you don’t allow pets and your home sits vacant for a month, you’re going to lose more money than you would with any pet damage.
If you have any questions about putting together a pet policy, please contact us at AustinVestors. We’d be happy to tell you more about our Austin property management services.