The benefits of allowing pets in rentals include:
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Larger Applicant Pool: this diversifies your potential renters with more applications to choose from
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Lower Vacancy Rates: stop revenue loss and achieve a higher profit margin with fewer vacancies
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Attracts Long-Term Tenants: secure quality residents that will occupy units for longer periods of time on average. Happy residents stay longer!
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Higher Profit: you can charge a higher monthly rent and/or charge a premium pet fee yielding higher profits with minimal effort
In contrast, some of the downsides of allowing pets in rentals include:
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Common Tenant Complaints: those without pets may be less sympathetic to excessive noise leading to more complaints
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Common Area Complaints: messes in hallways or elevators or barking at passerby residents can lead to a general degradation of the building’s quality of life
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Potential Damage To Apartment: not just dogs, but most animals have the potential of causing damage to different aspects of the unit.
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