When you first bought a rental property, you may not have felt comfortable with accepting pets in your rental due to being experienced as a landlord. However, you may know that you are missing out on potential tenants and even increased income because of this restriction. Despite gaining more experience with being a landlord, you may still not want to take on this responsibility, which means that your best bet is to hand the rental over to a property management service.
While you may want to allow pets into your rental, you may also want to set rules such as restricting certain dog breeds and setting a maximum limit on total pets in the house. These are details that you will need to cover in the online rental listings, in person, and within the lease.
If you do not feel confident in your ability to make these important decisions, you cannot go wrong with giving a property manager the responsibility to decide on the rules and restrictions.
One of the ways that you will be able to generate more income through allowing pets in your rental is by charging a one-time pet fee as well as monthly pet rent. If you are not familiar with the going rates for these costs, you may not want to come up with numbers on your own. This could lead to undercharging in which you lose money or overcharging and not renting the home.
Making changes to your property over time may be something that you want to consider when you are committed to allowing pets inside your rental. For instance, carpeted floors may not last as long with cats in the house because they can scratch it up and cause excess wear and tear.
Switching to laminate or engineered hardwood is an affordable option, and the great thing is that you can get property managers to handle all the work involved.
While you will need to invest in maintenance, repairs, and cleaning in between tenants, you will likely need to do a bit more work after having a tenant with pets. If you want to make sure that your rental looks clean and impressive to potential renters, you may feel confident with hiring a property management company that can show you what their rentals look like at different stages.
Allowing pets in your rental is a great way to generate extra income and getting help with managing the property can prevent you from worrying about being a landlord.