If you’re not allowing pets, you’re turning away a large subset of renters. As a Phoenix Property Manager, we know the thought of allowing pets in your home can be scary but in a recent survey by Apartments.com, it was found that 75% of renters said they owned at least one or more pet. That’s up a staggering 32% since last year. Most of those pet owners are found to have cats and dogs with only 6% having fish or other types of pets. Pet owners understand they are required to put down a pet deposit, the most common deposit is about a $200 / $250 in addition to the security deposit. What’s more interesting is that of the 25% of non-pet owning renters 58% of them still looking for pet-friendly units.
The Trend Is Clear, more renters own pets and even those without pets look for pet friendly units to have the option of owning a pet in the future. In addition to pricing and condition, it is clear that having pet-friendly unit could put your property at a competitive advantage over those that are not pet friendly.