As a rental property owner, one of the most important decisions you’ll make is whether to allow pets in your units. With nearly 70% of U.S. households owning a pet, adopting a pet-friendly policy can open your rental to a wider pool of tenants. However, it also comes with potential risks.
At Candlewood Property Management LLC, we help property owners navigate this decision by weighing the benefits and drawbacks of allowing pets in rental properties.
The Benefits of Allowing Pets in Your Rental Property
✅ Larger Tenant Pool & Faster Leasing
By allowing pets, you make your rental more appealing to a larger number of prospective tenants. Many pet owners struggle to find pet-friendly housing, meaning your property could fill vacancies faster and with longer lease commitments.
✅ Higher Rental Income & Pet Fees
Pet-friendly properties often command higher rent and additional fees. Common pet-related charges include:
✔ Pet Rent – A monthly fee (e.g., $25-$50 per pet)
✔ Pet Deposits – A refundable deposit for potential damages
✔ Pet Fees – A one-time, non-refundable fee for allowing pets
These fees can help offset potential damages or diminished life expectancy of items such as carpeting in the home.
✅ Longer Tenant Retention
Pet owners are more likely to renew their lease rather than move, simply because pet-friendly rentals can be hard to find. Reducing turnover means fewer vacancy costs, saving you time and money in the long run.
✅ Responsible Tenants
Many pet owners take their rental responsibilities seriously because they know how difficult it is to find pet-friendly housing. Well-screened tenants with pets are often just as, if not more, responsible than those without.
The Drawbacks of Allowing Pets in Your Rental Property
❌ Potential Property Damage
Scratched floors, chewed carpets, and pet stains are among the most common concerns. However, setting clear pet policies and charging a pet deposit can help cover minor damages.
❌ Noise Complaints & Disturbances
Dogs barking or pets running around could disturb neighbors, especially in multi-unit buildings. To minimize issues, consider:
✔ Enforcing breed, size, or weight restrictions
✔ Requiring tenants to follow quiet hours
✔ Screening for excessively noisy pets
❌ Allergy Concerns for Future Tenants
Some future tenants may be allergic to pet dander, which can linger in carpets and HVAC systems. Deep cleaning between tenants can help reduce allergens.
❌ Liability Risks & Insurance Costs
Some pets, especially larger dog breeds, could pose a liability risk. This is why many landlords:
✔ Require tenants to carry renter’s insurance with pet liability coverage
✔ Implement breed restrictions based on insurance policies
✔ Ask for proof of pet vaccinations and behavior history
Best Practices for a Pet-Friendly Rental Policy
If you decide to allow pets, having clear rules and protections in place is key. Here’s what we at Candlewood recommend:
✔ Require a pet application – Gather details on the pet’s breed, size, vaccinations, and behavior.
✔ Charge appropriate pet deposits or fees – These help cover potential damage and cleaning.
✔ Breed & size restrictions – Breed restrictions are already set by Candlewood, but you may also want to limit pet size.
✔ Include a pet addendum in the lease – This too is already done for our owners and it outline rules on noise, waste cleanup, and damages.
✔ Require renter’s insurance – Ensure tenants have liability coverage for their pets.
Final Verdict: Should You Allow Pets in Your Rental?
There’s no one-size-fits-all answer to whether you should allow pets in your rental property. However, if done correctly, a pet-friendly policy can increase demand, reduce vacancies, and boost rental income while minimizing risks with the right precautions.
At Candlewood Property Management LLC, we help property owners create custom pet policies that balance tenant appeal with risk management. If you're considering allowing pets in your rentals and need guidance, contact us today to discuss the best approach for your property!
