Many Portland landlords are automatically less than enthusiastic when they hear a prospective tenant’s question, “Do you allow pets?” Small wonder. The specter of damage from unsupervised four-footed co-inhabitants is a real possibility (despite the assurances of their doting masters).
Yet that kind of automatic landlord reaction might turn out to actually result in a questionable business decision. Some undeniably real benefits can accrue to those who open their Portland rental home to tenants who own pets.
Don’t believe it? Here are just some of the reasons why renting a home to a strong applicant with a well-cared-for, healthy pet can benefit both parties:
1. Widens the Number of Potential Candidates Allowing pets into a rental home materially increases the eligible applicant pool, giving a Portland rental home owner more latitude to select the best applicant. How many more become eligible? I checked this, and came up with jaw-dropping numbers. 47% of households own at least one dog (not to mention the 95,000,000 million owned cats). The numbers prove what we know already: a huge number of Americans are ga-ga over their pets.
2. Respectful Tenants A Firepaw.org survey comparing pet owners with non-animal-owning tenants showed that, on average, damage done to rental properties is about equal between the two groups. The takeaway from that is the biggest surprise: just because pets are living in your rental home in Portland doesn’t mean that the property will suffer. It seems that grateful pet-loving renters just try harder to keep the property in good condition. They do the worrying for you.
3. Higher Rent Renters with pets can be willing to pay some additional rent for the privilege of keeping their furry loved ones with them. Pet-owning renters are not likely to shy away from Portland rental home listings that specifically allow pets — even when a “pet rent” or other fee is part of the bargain.
If you are considering buying an income property next year, we provide resources for my clients every step of the way. I hope you’ll feel free to contact us anytime with your Portland real estate questions. (503) 389-0686