Statistics will vary some on this but for renters of average priced homes, more have pets than don’t. For real estate investors and landlords, a decision must be made whether or not to allow pets in your rental property. And while at first glance the immediate answer might be “no way” there’s more to consider when pondering the pet possibilities.

renting to pets

 First, why do some owners forbid pets at all? Because of the damage they can do. If you have carpeting can you expect to have your carpet stained by a pet? Of course you can. Especially if you’re a “pet friendly” landlord and extend a pet-less couple a lease who later thinks it’s cute to go out and buy a puppy. A couple who may have never housebroken a pet in their entire life.

Pets can chew things from baseboards to furnishing to curtains. That costs money to maintain and replace. Yes, your lease should spell out that any damage caused by the tenants or the tenant’s pets are the responsibility of them, not you. But the damage will still occur and many times tenants figure that losing their deposit is better than having to replace a couple hundred square feet of carpeting.

Pets can cause odors, both cats and dogs. When a tenant moves out that has had a pet for a year inside your unit, pet odors of all types will eventually seep into the floors and walls. So, hands down no pets, right?

Maybe. If more people have pets than don’t, your potential pool of renters is wider and deeper. Saying “no pets allowed” will get you fewer showings. If you’re in a hot neighborhood maybe that’s not a problem but any long term landlord will tell you that a neighborhood’s appeal ebbs and flows with time.

By having a stern no-pets policy, it might take a month or two longer to rent your unit to find a no-pets tenant. If your rent is $2,000 a month, you potentially lost $4,000 by eliminating a sizable market.