One of the most common questions landlords ask is whether allowing pets in a rental property is a smart business decision. While pets can increase wear and tear, they can also attract more qualified renters and reduce vacancy time.
In this guide, we break down the pros and cons of allowing pets in rental properties, along with best practices to protect your investment.
Pros of Allowing Pets in Rental Properties
1. Larger Tenant Pool
More than half of renters own pets. Allowing them significantly increases demand for your rental and helps your property stand out in a competitive market.
2. Faster Leasing & Lower Vacancy
Pet-friendly rentals often lease faster because there are fewer available options. Shorter vacancies mean more consistent rental income.
3. Higher Rental Income Potential
Landlords can offset risk by charging:
Non-refundable pet fees
Monthly pet rent
These fees can increase overall revenue without raising base rent.
4. Longer Tenant Stays
Pet owners tend to stay longer, reducing turnover costs like cleaning, marketing, and re-leasing.
Cons of Allowing Pets
1. Potential Property Damage
Pets can cause:
Scratched floors
Chewed doors or trim
Carpet stains or odors
However, proper screening and deposits help minimize this risk.
2. Noise or Neighbor Complaints
Excessive barking or pet behavior can lead to complaints, especially in multi-unit properties.
3. Insurance & Liability Concerns
Some insurance policies restrict certain breeds or animals. Owners should always verify coverage before approving pets.
Best Practices for Pet-Friendly Rentals
Allowing pets doesn’t have to mean losing control. Clear policies protect your property.
1. Create a Written Pet Policy
A strong pet policy should include:
Allowed pet types, breeds, and sizes
Pet fees and monthly pet rent
Limits on number of pets
Vaccination and licensing requirements
Behavior expectations
2. Use a Pet Addendum
A pet addendum should be signed with the lease and outline responsibility for damages, cleaning, and noise issues.
3. Screen Pets Just Like Tenants
Require:
Vet records
References from previous landlords
Photos of the pet (when applicable)
4. Follow Fair Housing Laws
Service animals and emotional support animals (ESAs) are not pets under Fair Housing laws. Landlords must make reasonable accommodations and cannot charge pet fees for these animals.
Is Allowing Pets Worth It?
For many landlords, the answer is yes—when managed properly. Pet-friendly policies can increase income, reduce vacancies, and improve tenant retention while still protecting your property.
The key is having clear rules, proper documentation, and consistent enforcement.
Let Ivy Property Management Handle Pet Policies the Right Way
At Ivy Property Management, we help owners implement smart, legally compliant pet policies that protect their property while maximizing rental income. From pet screening to lease addendums and compliance guidance, we handle the details so you don’t have to.
Considering a Pet-Friendly Rental Policy?
Contact Ivy Property Management today to learn how we can help you create policies that work for both owners and tenants.
