Pets can be a pretty hot topic in property management. Even people who love their own pets tend to hesitate before allowing pets in their Torrance rental properties. Perhaps they imagine the worst; scratched up floors, shredded paint on walls, and odors that are not only unpleasant but nearly impossible to eliminate before new tenants move in.
Sure, there are risks.
But it’s hard to ignore the rewards. Pet-friendly properties tend to have an easier time attracting tenants. After all, a majority of tenants in Torrance are pet owners.
We’ve been managing rental homes in this part of California for many years, so we’ve seen what works and what doesn’t work when it comes to pets in rental homes. We’ve put together this list of pros and cons to allowing pets in your Torrance rental property.
As a bonus, we’re also talking about how to protect your property when you do allow pets.
Pro List: Reasons Pets are Good for Torrance Rental Properties
Allowing pets on your property comes with some important benefits:
- More Tenants and Less Vacancy
You don’t have to be a Torrance property manager to know that the numbers favor pets.
It’s simple math when it comes to attracting tenants and limiting your vacancy time. The exact numbers vary depending on the survey or the statistics you’re looking at, but we can tell you that most tenants looking for a new rental home at any given time period will have at least one pet. Pet ownership was already strong, and then the numbers went way up during the worst days of the pandemic when people were at home, looking for company.
This tells us something important: that if you don’t allow pets, you’re eliminating a large portion of your tenant pool right at the beginning of your marketing and leasing process. Why limit yourself so quickly? Why invite a longer vacancy, which you know is going to be more expensive?
When you have a smaller tenant pool to start with, you risk a longer vacancy period. You’re potentially losing a lot of money while you wait for a qualified tenant who does not have a dog or a cat also looking for a new home.
Always include the fact that you’re pet-friendly in your listing and marketing materials. By saying you will consider pets, for example, you can keep your pool of potential residents pretty large. Then, you can make decisions on a pet-by-pet basis about whether or not you’ll approve them.
- Higher Tenant Retention Rates Saves Torrance Property Owners Money
Not only do pet-friendly homes have lower vacancy rates, they also have lower turnover rates. This is another matter of maximizing your income. You want to increase your tenant retention because when your tenants renew their lease agreements, you avoid the money you’d have to spend on maintenance and improvements. You won’t lose more money on vacancies, and you won’t have to invest in marketing for and screening new tenants.
Pet owners are more likely to renew their lease agreements and stay where they are, especially if they’re having a good rental experience. Moving would mean paying another pet fee or deposit, and most people don’t want to do that. Pet owners also understand that it’s not always easy to find a pet-friendly property. They’ll be willing to stay in your rental home longer, and that’s good news for your earnings.
- Good Pet Owners are Usually Good Tenants
There’s not necessarily any hard data on this, but we can tell you from our own experience as Torrance property managers that when tenants care about their pets, they’re likely to care about their homes as well.
A lot of pet owners love their animals like they love their human family members. These are people who are going to make sure their animals are healthy, groomed, and well-behaved. Our residents who move in with pets are able to demonstrate that they take their animals to the vet, feed them well, and keep them in good condition. And, these tenants will usually turn out to be responsible renters who are easy to work with. They’re responsible.
And while we understand the fear of pet damage to a property, we can promise you that animals will rarely cause more harm to a home than humans.
- Pet Income
The security deposit laws have changed in California, and you can now charge up to the equivalent of one month’s rent as a deposit. Pet deposits would be included in that amount, so charging a pet deposit is not the recommended course of action. You can, however, charge a pet fee or pet rent. This gives you a bit more income when you have pets living on your property. There’s an opportunity to both earn more and to protect yourself against potential pet damage or extra cleaning.
Con List: Reasons You May Not Want to Welcome Pets Into a Torrance Rental Property
As professional property managers, we support the idea of allowing pets, but we know it’s not a risk that every property owner is going to be willing to take. That’s why we encourage serious pet screening and a solid pet policy. Before we talk about those things, let’s give you a list of why pets aren’t a great idea:
- Pets and Property Damage
The risk is that animals can be messy and misbehaved. Even someone’s beloved and well-trained poodle can scratch up a wood floor. An otherwise docile cat may shred the carpet fibers outside of a tenant’s bedroom door if that door is closed. We have seen landscaping dug up, and we have had to treat for fleas from time to time. These are some of the potential damages that a pet can cause to your rental property.
Even when you carefully screen a pet, you have no idea how that animal is going to act because they’re unpredictable. It’s very rare, but sometimes pet damage can go beyond the pet deposit you collect, leaving you with extra expenses.
- Pet Odors and Stubborn Allergens
Pets can leave behind odors, and it’s very hard to get rid of the stink, especially if we’re talking about pet waste. And especially if your rental property has carpet. You can expect to do some extra cleaning after a tenant with pets moves out. The smells can be especially problematic if your next tenant has allergies. You might find fleas. There may be pet dander clinging to the carpet fibers.
- Some Dog Breeds Are Considered
Pets can also be dangerous, especially certain breeds of dogs. In some cases, your insurance might not even cover the dogs that your tenants would want to move in with. This is problematic, especially if a tenant’s dog bites a neighbor or attacks another person’s pet. If you’re sued, you’ll want to make sure your insurance company is willing to cover you. If you’re worried about the risks that dangerous breeds deliver to your rental property, you may want to disallow all pets so you don’t have to decide which are acceptable risks and which are not.
Putting Together a Pet Policy
Now that we have given you the pros and cons of allowing pets in your Torrance rental property, you can decide which side you want to land on.
If you do decide to allow pets, make sure you mitigate those risks with a strong pet screening process and a consistently enforced pet policy.
- Screening Pets
One way to protect yourself against potential pet damage is by screening them. In fact, you should screen pets as carefully as you screen tenants. Ask for a photo of the pet so if you see an animal around the property, you’ll know it’s the pet you screened and approved. You can even ask to meet the pet. Ask for vet records that show the pet has been vaccinated and treated for fleas and ticks. Talk to former landlords during the screening process to find out whether there were any excessive messes or damage. Ask if neighbors complained about the pet.
- Pet Restrictions
Your pet policy can restrict pet numbers, sizes, and ages. Maybe you’ll allow one pet per unit. Or two pets weighing less than 20 pounds. Maybe you’re okay with cats but not dogs. Maybe older animals are fine, but you don’t want to allow kittens or puppies. All of these restrictions are yours to impose. It does not have to be all or nothing.
- Pet Fees and Pet Rent
Always charge a deposit or a pet fee to further protect yourself and your property. Pet fees are non-refundable, and some landlords also charge pet rent. You can charge $25 to $100 per month per pet. There are different ways to protect yourself financially when you have a tenant with pets moving into your property.
This is what we think about pets, and hopefully, you have weighed the risks against the rewards. If you need help screening pets, establishing a pet policy, or communicating with applicants and tenants about pets, we would love to serve as your Torrance property management resource. Please contact us at Real Property Management Choice.
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