If you are open to marketing your property as pet friendly, you will likely attract a greater number of potential renters. More travelers are now bringing their pets along – nobody wants to leave their beloved Fido behind – and the numbers continue to increase every year.
In the annual Corporate Housing By Owner Report, 73.8% of responders said they accepted pets to get their properties rented.
But if you do choose to allow pets, CHBO strongly recommends you charge a pet fee and/or pet deposit to your tenants.
To give you an idea of how much you should charge, annual report responders said they were charging an average fee of $175, an additional deposit and an average rent increase of $39. Full service corporate housing companies are charging a fee $261 and a deposit of $271.
If a prospective tenant has more than one pet, an additional charge per pet would be fair to ask for, but don’t make it a deal breaker. Remember, the goal is to get your property rented.
Opening your door to pets provides the opportunity for you to make more money. And don’t worry, pet owners will typically expect additional fees and are happy to pay up to bring along their four-legged family member.