Have you had trouble finding a home or an apartment to rent, simply because your pet isn’t allowed to live there?
Well, it looks like things are changing – as landlords are seeing better profits if they open up their residence to being pet friendly.
Homes with kids under 18 years of age stands at 27% in America, while the share of homes with pets is at 68%. More likely, tenants are going to have a dog than they are to have a child. With that statistic in mind, more and more landlords are opening up their doors to allowing pets.
A study conducted by FIREPAW Inc., an animal welfare nonprofit research firm, showed that pet-friendly rentals increase investors’ profits AND show vacancy rates for rentals that allow pets tend to be lower than those that don’t.
Landlords are also spending less than half as much money on advertising their pet-friendly properties.
But what about the likely damage caused by said pets?
The survey also found that the tenants with pets tended to cause less damage than tenants with children – even the worst damages caused by pets were cheaper than the average rent or the pet deposit.
Even potential homebuyers are looking for homes that are more pet-friendly – realtor.com®’s survey found that 87% of home buyers with pets say they take their pet’s needs into account when searching for a home.
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