Pets are an important part of many people’s lives, and it’s no wonder more and more tenants are looking for pet-friendly rentals. But should landlords allow pets in their rentals?
This blog explores the pros and cons of allowing pets in your rental property and provides best practices for setting up a pet policy that protects your investment and tenant relationships.
What Are the Pros and Cons of Allowing Pets in Rentals?
Deciding whether to allow pets in your rental property requires carefully considering the benefits and potential drawbacks. Below, we break down the key pros and cons to help you make an informed decision.
Pros of Allowing Pets
Larger Tenant Pool
Many renters have pets, and restricting them could limit your pool of potential applicants. Pet-friendly properties tend to fill vacancies faster.
Higher Tenant Retention
Pet owners may move less frequently due to the difficulty of finding pet-friendly housing, leading to lower turnover rates.
Increased Rental Income
Landlords can charge pet deposits, non-refundable pet fees, or even slightly higher rent to offset potential damages.
More Responsible Tenants
Many pet owners take pride in maintaining a stable home environment, making them responsible renters.
Cons of Allowing Pets
Property Damage
Scratched floors, chewed furniture, and lingering pet odours can lead to costly repairs.
Noise and Disturbances
Barking dogs or noisy pets can cause issues with neighbours and other tenants.
Allergy and Health Concerns
Future tenants may have allergies, which could make re-renting the unit more challenging.
Liability Risks
Depending on local laws, if a tenant’s pet bites someone or causes harm, the landlord could be held legally responsible.
Understanding these factors can help landlords develop a well-structured pet policy that balances tenant appeal with property protection.
Best Practices for a Pet Policy
If you decide to allow pets in your rental property, it’s essential to have clear policies in place to minimize risks and protect your investment. A well-structured pet policy helps set expectations for tenants while ensuring your property remains in good condition. Below are some best practices for crafting an effective pet policy.
Set Clear Guidelines
Establishing clear rules about the types of pets allowed can help prevent issues down the line. Consider specifying:
Permitted pet types
Will you allow only cats and dogs, or are other pets like birds or small mammals acceptable?
Size and breed restrictions
Some landlords limit pet size (e.g., under 50 lbs.) or prohibit certain breeds due to potential liability concerns.
Number of pets per unit
Limiting the number of pets can help control potential damage and disturbances.
Require a Pet Deposit or Fee
Charging a pet deposit or non-refundable pet fee helps cover potential damages. You might also consider a small monthly “pet rent” to offset additional wear and tear. Make sure to check the Alberta RTA handbook to ensure compliance.
Conduct Regular Property Inspections
Periodic inspections allow you to check for any signs of pet-related damage and address issues early. Consider scheduling inspections at lease renewal times or at least once a year to ensure compliance with your pet policy.
By implementing these best practices, landlords can enjoy the benefits of a pet-friendly rental while minimizing risks.
Allowing pets in your rental property can be a daunting decision. No matter which way you’re leaning, GIL can help you with legal and compliance concerns when drafting a pet policy. Contact us today for a free property management consultation.
