Turning Your House into a Dog House
Written ByBelong on Dec 18, 2021
The Pros and Cons of Renting to Pet Owners.
Even though most people love dogs and cats, historically homeowners and landlords have been reluctant to rent to pet owners. Which is understandable: dogs and cats can scratch up beautiful hardwood floors – or leave unwanted deposits that can strain floors permanently — as well as chew on moldings and baseboards. What’s more, their odors can linger long after tenants have moved out. It’s no wonder, then, that so many pet owners have trouble finding rentals that will accommodate their animals.
But are homeowners being short-sighted when it comes to renting to pet owners? Though there are potential pitfalls, there are many compelling reasons why you should consider letting Fido and his human friends move into your home.
1. Expanding the Pool of Potential Residents
Even before the pandemic puppy boom, the number of pet owners in America was staggering. 70% of families have pets , which adds up to 85 million households. Not only that, but pet ownership is trending up with younger renters: Millennials are more likely to own pets than any other age group .
All this means that, if you’re a landlord, you’re cutting yourself off from a ton of desirable renters by not allowing pets in your house, building, or apartment. Of course this has always been the case, but if the trends hold, the situation will become far more pronounced over the coming years and decades.
As a property owner, you want to find someone who will love your home as much as you do. Why limit that potential pool?
2. Increased Income
Pre-pandemic, pet owners were paying between 20% and 30% more for a pet-friendly rental. Which makes sense, when you think about it in terms of supply-and-demand: the number of pet owners is going up faster than the number of homes that they can move into.
It’s only natural, then, that the demand for those pet-friendly residences is skyrocketing. This means that homeowners can — and should — charge more for their willingness to accommodate pets. It’s not exploitative, it’s economics.
3. Better Tenants
Anyone who’s ever owned a pet will tell you, it’s a serious commitment — which means that pet owners tend to be serious, responsible people. Not only that, but the average household income for pet owners is over $96,000 a year , which is almost $30,000 more than the average household income overall. So in terms of both psychographics and demographics, it’s much more likely that pet-owners will be good tenants who consistently pay their rent on time and keep your home well-maintained.
You own a home.
We have someone to ❤️ it.
4. Longer Tenancy
Moving is a painful, stressful experience for everyone, but if you’re a pet owner, it’s a uniquely excruciating experience. Not only is it harder to find a home that will accommodate your pet, but you also have to think about the effect such a dramatic change of scenery will have on the animal. You have to find a new vet, a new dog walker, a new dog run. Simply put, it’s a disruptive, alienating experience for the animal. That’s why pet owners tend to stay in one place longer than people who don’t own pets.
Dogs make homes safer; burglars are opportunists and would not take the risk of being attacked when the house next door doesn’t have a ferocious-sounding bark coming from within. This isn’t just folklore – there’s actually a significant amount of data which supports this.
A New Layer of Homeowner Protection is Available
Despite these benefits, the fear of renting to a pet owner persists. Belong – the modern and thoughtful property management company – has developed a win/win solution that allows homeowners to rent to pet-lovers while protecting them against any potential damage. Belong offers pet protection to all the homeowners on its platform, guaranteeing that any damage caused by a resident’s pet will be fixed free of charge by their Pros .
To explain a bit further, Belong hires the best – and only the best – local contractors in the neighborhoods they serve. They’re full-time Belong employees, and are ready to fix any and every problem that emerges in one of our homeowner’s houses. If you never heard of a property manager going to that extent to serve its clients, that’s because it has never been done before.
In short – pet owners have a lot of love to give. That’s part of the reason why they own a pet. Which makes them ideal residents, in our opinion. The love they have for their animals runs deep, making them much more likely to love your home as much as you do. That’s Belong’s mission – to find you residents who care that much about your home – and why they’ve done everything possible to accommodate pets and the humans that love them.
Back-of-the-Napkin Math On Choosing Belong.