Have you heard that over 57% of California residents own at least one pet?
This can make San Jose landlords' jobs a bit trickier. They have to decide if they'll welcome pets in a rental property. Would it be a mistake to accept San Jose pet owners?
Read on to see how they can impact your rental property business.
Pro: Expanded Tenant Pool
Allowing pets in your San Jose units can broaden the pool of potential tenants. Many people have pets and focus on finding a home where their furry companions are welcome. By welcoming them, you draw in a larger pool of applicants for your rental property.
Con: Property Damage
Your property may not be safe with pets around. They may scratch floors, chew on furniture, or have accidents indoors. Taking care of these things could reduce your total rental income.
Pro: More Lease Renewals
Pet-owning tenants are often more likely to stay for longer durations. When tenants find a place that accommodates their pets, they're more inclined to renew their leases to avoid the hassle of locating another pet-friendly rental.
Con: Pet Odor
Lingering pet odors can be a challenge in your rental property, even after renters move out. Eliminating these odors may necessitate professional cleaning services or even replacing carpets and furniture, incurring significant expenses and inconvenience.
Pro: Increased Rental Income
You have the option to charge pet fees or pet rent so you'll have an extra source of income. These fees can offset any potential damage caused by pets and help cover cleaning expenses when renters leave the property.
Con: Tenant Applications
Some tenants may falsely claim not to have pets on their applications to secure a rental. This dishonesty can lead to conflicts later on if you discover pets on the property without prior approval, potentially breaching the lease agreement.
Pro: Improved Property Security
Some pets like larger dog breeds can serve as a deterrent to intruders and provide an added sense of security for your property. Their presence may reduce the risk of break-ins or vandalism, which contributes to the general safety of your rental.
Lowering the Risks
Deciding whether to allow pets in your San Jose rental property demands thinking a lot about the pros and cons. While accommodating pets can expand your tenant pool, increase rental income, and enhance security, it also entails the risk of property damage, pet-related odors, and potential conflicts with tenants.
To lower these risks, landlords can implement policies such as requiring pet deposits or pet rent, conducting thorough inspections before and after tenancy, and including specific pet clauses in lease agreements.
Pets in a Rental Property Could Be a Wonderful Thing
Accepting pets in a rental property isn't a clear-cut issue. Not every landlord will feel comfortable doing this. Keep all these things in mind before you choose whether to welcome pet owners or not.
Running a rental property business in San Jose can be tricky with or without pets. Contact Provident Property Management if you'd like some help. We've been offering phenomenal property management solutions since 2001.
