Savvy landlords can gain a competitive edge for their properties even when the shrinking economy means that “For Rent” signs are sprouting everywhere for the first time in years. According to RealFacts Survey, the Bay Area’s rental vacancy rate in the first quarter of 2001 was 2.6 percent and the vacancy rate in our area is now 6.7% -- the highest in a decade. By welcoming tenants with pets, landlords can multiply the pool of great applicants for their rental units.

Responsible pet owners are loyal, long-term tenants who reduce turnover and vacancy rates, increase profitability, and enhance safety and security in the neighborhood according to studies by insurance companies and organizations such as the National Council on Pet Study and Policy, and the Delta Society.

Landlord Advantages
A pets-welcome policy makes good business sense. Nearly 50% of renters in the U.S. have a companion animal.

•Increase your average length of occupancy by renting to tenants who tend to be loyal to the complex that welcomes their furry family member. Tenants stay longer in one place when they have a companion animal.

•Boost the percentage of responsible tenants in your property. Individuals who have companion animals tend to be more responsible and caring.

•Improve the quality of life for your tenants. Living with a pet decreases stress and promotes vitality through active exercise. And for seniors, the care and feeding of an animal can remind them to take care of themselves.

•Strengthen your positive public image and expand your referral network from satisfied tenants who have pets.

•Establish a simple and clearly written Pet Policy. Draw up pet-specific rental contracts that cover the topics that will help maintain the smooth running of your property, including the amount of any Pet Deposit.

•Ask for Pet References in addition to your regular tenant references. Speak to obedience class instructors or veterinarians for specifics about the pet and the tenant’s ability to take proper care of it.

•Have the renter complete a “pet resume” which includes a detailed description of the pet, a recent photo, and for dogs, obedience/training classes completed.

As an extra incentive for landlords who are considering starting with a “Cats-Welcome” policy, Pets In Need will underwrite the Pet Deposit and guarantee reimbursement to the property owner for any cat-caused damage. This guarantee is currently available for cats adopted from Pets In Need. Call (650) 817-9180 for details.

 
Founded in 1965, Pets In Need receives no federal, state or local government support.

Published in the San Mateo County Times, December 29, 2001