According to Statista.com, 70% of households in the United States own one or more pets in 2020. And to that 70% of households, we’re sure they count their pet as part of the family too. And you know what’s good about pet owners? They make good tenants, and they’re more likely to renew a lease. Read about the other “ultimutt” reasons to allow pets in your military rental property.
The American Pet Products Association found in their 2019-2020 National Pet Owners Survey found that 67% of U.S. households, or 85 million families, have at least one pet, with the majority reporting a dog or cat. Appealing to the niched audience of military members and families can be enhanced by allowing pets, thereby increasing your pool of eligible tenants.
An Apartment.com survey found that of the renters that have a furry friend, more than half (60%) struggle with finding a pet-friendly rental. A different landlord survey revealed that tenants with pets were found to stay in their rental for 23 months, compared to 15 months for non-pet-owners. In other words, once you find a pet-owning tenant, they are more likely to renew their lease.
As a pet-friendly rental, you can collect a monthly pet fee on top of a pet deposit. While a pet deposit is used to repair damage caused by the pet (and can be refundable at the end of the lease), a monthly pet fee or pet rent is a monthly fee to keep a pet on the property. Receiving an additional $20 per month represents an additional $240 each year! Make sure you check local laws about how much you can collect for monthly pet rent.
If you’re a non-pet-friendly rental property, you run the risk of the tenant breaking the rules and bringing in an unauthorized pet, which can be more costly in the end. Skip the drama by allowing pets. A pet deposit is shown to encourage tenants to prevent pet damage. The landlord survey mentioned above also found that when pet-related damage occurred, the pet deposit often covered property damage.
Ease the stress of a PCS move by supporting military families with pets, and those families are more likely to recommend you and your rental to others. Word-of-mouth referrals, particularly with those within the tightly-knit military community, are incredibly powerful.
If you need assistance marketing your military and pet-friendly rental or changing your lease agreement to accommodate pets, contact us today at firstname.lastname@example.org.
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