The Benefits of Renting a Pet-Friendly Apartment

There are several benefits of renting a pet-friendly apartment. One of these benefits is that your neighbors are less likely to be offended by your pet’s presence. In addition to offering protection, pets provide companionship and company, which can ease stressful situations and reduce stress and strained relationships. Another benefit of renting a pet-friendly apartment is that your tenants will be less likely to sneak in a pet, since the apartment’s rules may only allow certain types of animals.

Tenant pool

The Tenant Pool when Renting a Pet-Friendly Apartment is a Growing Market

Before renting an apartment with a pet policy, make sure you know the rules for tenants with pets. If the apartment is pet friendly, the lease should clearly state the pet policy. Make sure the landlord can amend the policy if necessary when taking pet friendly apartments for rent in Chicago. Likewise, make sure you understand the breed or size of the pet. Those with large dogs may be required to pay an additional pet fee. Make sure the landlord’s policies do not prohibit animals of certain breeds.

Before accepting a pet, check the applicant’s background thoroughly. Always ask about previous landlords and roommates before approving an applicant. If you have any doubts, contact the references and ask about the owner’s history with pets. You may also want to meet the pet in person before accepting a tenant. Taking the time to screen a tenant’s background is well worth it.

Cost

One way to reduce costs is to allow pets in your apartment. Many owners consider allowing pets to be a smart marketing strategy, as it means more potential renters and buyers. However, allowing pets is not the only reason for higher costs. Appraisers at Miller Samuel say that many other factors may account for this difference. Let’s examine some of these other factors. Read on to learn more.

First, consider the size of your pet. Many apartments will only allow dogs under certain conditions. Small dogs, however, are the exception. Larger dogs and cats can be a challenge to live with. You should be prepared to spend a bit more than average on a pet-friendly apartment. Some apartments have special features for dogs and cats, such as soundproof walls, cushioned floors, and even pet doors.

Exotic pets

Allowing pets in a rental apartment has many benefits, both for landlords and tenants. Pet owners have lower stress levels and increased happiness, making a landlord’s life easier. In addition, pet owners increase the number of potential renters, making it more profitable for landlords. And because more renters prefer to rent an apartment with animals, the prices for pet-friendly apartments are often higher. This is especially true in multi-unit buildings.

Long-term tenancy

In addition to the added value of a pet, many landlords have discovered that tenants with pets are more likely to renew their leases. Unlike people without pets, who are likely to move out after a few months, tenants with pets have lower turnover rates. They also stay longer in their rental, reducing the risk of vacancy. Those who rent with a pet are less likely to move out after a few years, which is great for landlords who want to maintain the building.

For landlords, allowing pets in rental units can increase their pool of prospective tenants, resulting in a higher rent for their property. Renters who are happy with the presence of their pets are more likely to stay in a rental, despite potential pet-related problems. The longer tenants stay in an apartment, the higher the rental income for the landlord. So if you are looking for a steady rental income, consider offering a pet-friendly unit.

Convenience

One of the benefits of pet-friendly apartment rentals is that you can bring your dog or cat without causing any disruption. You may not have a choice as to where to live, or you simply don’t want to move. Luckily, pet-friendly apartment rentals allow you to bring your pet to your new home, as long as you follow certain rules. You should be sure to check with your landlord’s policies before moving in.

If you plan to rent a pet-friendly apartment, make sure you screen your applicants thoroughly. A pet-friendly apartment has less vacancy than an unsuitable one. It has a higher occupancy rate, and tenants are likely to stay longer. Additionally, landlords can benefit financially from renting to people with pets. This can lead to increased rent, as well as fewer complaints from tenants. If you’re thinking about renting a pet-friendly apartment, contact Triple Crown Corporation for more information.