Everybody likes dogs, right? Or maybe someone’s a cat person. Or heck, maybe even a parakeet but having a pet provides an instant friend and is a popular decision whether or not to buy and raise a dog for the companionship it provides.

The younger set, those who typically rent, will often have a dog or renting to pet ownersa cat accompany them to their new rental home or apartment. If you’re the landlord, do you want a pet? Do you want Fido digging holes in your backyard or howling at the moon late at night? As a landlord, should you ban pets altogether and if not, why not?

When you advertise a rental that accepts pets, you’re automatically increasing the number of potential renters. Pet owners will specifically search for properties that accept pets. If you’re in an area where renting out a unit isn’t a problem and you’re getting the kind of rent you expect then widening your potential pool of renters isn’t that important. At least for now. But on the other hand, some markets require opening up the qualifying gates and allow for pets. What are the disadvantages of a pet?

The first is of course damage to your property. Yards, carpet, fences can all be targets of pet affection. A barking dog will create a neighborhood nuisance and pets can bring in fleas and allergens. But there are some things you can do to guard you and your property from damage while charging a higher rent.

Some landlords limit the size of any pet as well as the number of them. While you might not mind a cat you might mind 10 of them. You could also limit the size of a dog to say 50 pounds which covers most but also limits the great big dogs that could cause the most damage. A previous landlord check and perhaps a visit to their current residence will give you an idea how nice of a pet you might be taking on. Really, a bit of due diligence and common sense is all that need apply.

Yet you can also accept a higher deposit due to the pet and charge more for rent each month. A well-mannered pet and responsible tenants can actually make you more money compared to a tenant without a pet. Don’t discount renting to pet owners. They’re money makers.