As a landlord, you would want to find a tenant who causes as little trouble as possible. After a lengthy screening process, you finally come across the ‘perfect’ tenant who wants to rent out your property. You can’t wait to begin all the paperwork when the ‘perfect tenant’ informs you that they have a pet!

Well, this isn’t too shocking, considering that many people all around the world love to have pets. Of course, when it comes to one of these individuals wanting to rent from you, it becomes a little more complicated. Maybe you have had some experience with pets before, or you have never had a pet and don’t exactly know how they behave.

Whatever the situation is, now you have to decide whether you want to allow a tenant with a pet to rent from you or not. Well, there are always plus as well as minus points to this decision.

Here is everything you need to know about renting out to tenants with pets- and if it is good news or not.

The Good News

Every coin has two sides, right? Well, renting out your property to a tenant with pets can also have its benefits. These are the top benefits that you will enjoy:

1.) They would be willing to sign a long term rental agreement

Probably the most significant advantage of renting out your property to a tenant with pets is the fact that they would be more willing to sign a long term rental agreement. The reasoning behind this is because it can be quite challenging to find landlords who will rent out to those with pets. If they do happen to find a landlord who agrees to this, they would instinctively want to keep this as a long term solution, lest they need to search all over again.

It can be especially beneficial to you if you would like to rent out to tenants with a little more security in terms of how long they will stay.

2.) You will find tenants quickly

If you are actively looking to rent out your place, then mentioning that you are comfortable with pets is helpful. This will help you find tenants quicker because of a simple reason.

It is already tough for tenants to find places that will allow pets. When they do hear of such situations, they are quicker to accept the offer, in fear of losing the chance. So you will always have good luck if you are looking to rent out your place and you do allow pets.

3.) You might get a larger security deposit

Typically, those who are looking for a place to rent with their pets are willing to pay a larger security deposit. Again, this is simply because it can be so difficult for them to find a landlord who says yes to pets.

The larger security deposit also allows you to cover any costs of damage which their pet might cause on your property. Of course, be sure to lay down some ground rules as well before you agree to pets in your property.

If you have any allergies, be it of a particular animal only, or just all kinds of animal fur, it is better that you don’t take this risk and allow tenants with pets to rent from you.

4.)They are typically more careful

Tenants with pets are typically more careful about how they treat your property. Again, due to how difficult it can be for them to find accommodation that allows their pets, they are somewhat cautious about cleaning up after their pets. In case of any damage, tenants are responsible for them and will cover the costs of repair or replace the item.

Although this is not a guarantee, more of an anecdote or a belief, we can all agree that pets are quite delightful to have around!

The Bad News

Of course, just like the good, there is also bad. If you are considering renting out your property to a tenant with pets, here are a few things you should be cautious about:

5.) The damage to your property

Again, this isn’t a guarantee. You might just rent out your property to someone whose pet is an angel and doesn’t even make a mess!

However, you might also rent out your property to someone whose pet can be kind of troublesome. Although the additional security deposit should help you cover most of the costs of damage, sometimes it isn’t enough.

In case of long term damage, or damage which needs extensive repairing, it can end up costing you much more.

6.) Complaints from other neighbors

One of the apparent issues of renting out your property to someone with pets is the odor and sounds that they make. Although you might be okay with it, your neighbors might not. Complaints could keep piling up, till you finally need to do something about it.

There is also the issue of the odors left behind by the pets once the tenants leave. In some cases, you might need to treat your property to get rid of all the smells. This is not only expensive but can also be time-consuming and could slow down the process of finding new tenants to rent out to.

Of course, most people enjoy being around animals. They bring unlimited and unconditional joy to our lives. If you train a pet well enough, they will not cause damage to your property and can behave quite responsibly!

It is ultimately your own decision if you wish to rent out to a pet owner or not. After weighing out all the pros and cons, you might be able to find some places where you can compromise or some areas where the tenant can compromise as well. If you are a pet lover, you might find it easier to make up your mind about this decision. Of course, keep in mind that pet owners can be quite complying and generous so that it might work out to your advantage!