Landlords enjoy the happy position of receiving rents from excellent tenants, even as they build equity in their rental properties. Maybe you’re the tenant, maybe you’re the landlord, but one thing for sure is that you’re both concerned with the topic of allowing or restricting pets. You can’t blame Eugene rental owners if they don’t allow dogs in their properties, and they can’t complain if they miss out on an opportunity to rent to a responsible pet owner.
A primary need for Eugene rental home success is keeping a low vacancy rate. In today’s housing market, vacancies tend to be a rare occurrence. However, when the tenant moves out, landlords can be faced with large expenses they hope to avoid. Sometimes these costs of cleaning a rental prior to re-marketing it will change a landlord from a happy, pet-friendly one to a sour, pet-averse homeowner.
The American Pet Products Association (APPA) mentioned in 2012 that 39% of U.S. families have at least one dog and that 33% have at least one cat (there’s ample evidence that it’s the cats who own the homes, but that’s another issue).
In their “Animal House 2017” survey dealing with remodeling, the National Association of Realtors® found that 81% of respondents say that animal-related considerations play a role when “deciding on their next living situation.”
Eighty-one percent!!! That’s 4 out of 5! It’s doubtful Eugene rental properties even come close to meeting that kind of need. However, the landlords who choose a “no pets” strategy to protect their properties are often still in good shape due to the low inventory of central rental homes. So even though 89% of people who own a pet said they wouldn’t consider giving up their animals due to housing restrictions, landlords may not currently be changing their allowances to court those lost occupants.
With that issue in mind, the pro-animal sector is still ready, willing and able to produce studies and statistics aimed at publicizing the financial benefits for landlords of pets-allowed rental houses. The Petfinder is a website with that very inclination. Petfinder estimated that tenants in pet-friendly houses remain in place more than twice as long as renters staying at exclusively pet-free rentals.
If you are an investor considering the opportunity of owning one of Eugene’s rental homes, whether it is pet-friendly or not – low vacancy rates seem to support your consideration of a purchase. If we believe what we read, this is a win-win. Extra-low vacancy rates if you’re inclined to allow pets, a low inventory of central rental houses even if you’re not. and if you’re a tenant tired of spending money on someone else’s home, searching long hours for a pet-friendly rental, know that Eugene’s real estate market isn’t slowing down. Why not give me a call? 541-514-4567
Talk to you soon!