The Other Victims of Foreclosures: Pets

Are pets welcome in your rental properties? If so, you may have noticed extra tenant applicants who are moving their pets along with their kids and furniture. Pet ownership is up in the United States—and so is the percentage of rental units that are pet-friendly.

But one reason for extra pet-owning rental applicants may be the increase in foreclosures in the US. A typical track for pet owners is to get that first dog or cat when they buy their first home. But what about after they lose their job and their home—and must return to a rental lifestyle? Many are result their pets are not welcome at rental units that otherwise work—and regularly, these socialized, housebroken family pets are being abandoned in shelters.

The rental market is hard enough right now—why not remove one barrier to filling those vacant homes and apartments that are not making you any money? If you are a landlord who doesn’t accept pets, why not reconsider that policy? Studies show that allowing pets helps fill vacancies—so it’s excellent for business. And if you make a solid rental pet policy, you may find that the reasons you weren’t long-distress pets (noise, hurts, liability) were not valid after all.

Besides, it’s terrible enough for a family to lose their home, for kids to go away from their neighborhood friends, and possibly thrash to a new school. But it’s even of poorer quality when the comfort and companionship of a beloved pet is taken away, as well. Pet owners who are allowable to bring these family members along to a new rental are regularly so grateful, they are extra than willing to agree to even the strictest of pet policies.

We’ve written about pet policies before. Check out the basics, and consider allowing pets in your rentals. You might find that with a large enough pet deposit to cover possible hurt, plus clear rules and apt consequences established up front, pets in your rental properties can work for all!