Pros and Cons of Allowing Pets in Your Corporate Rental

Pets in Your Corporate Rental

One of the most common questions that property owners ask is whether they should allow tenants to bring pets. When it comes to whether most owners allow them or not, the decision is mostly split. Many people with a corporate rental are happy to have pets around, while others prefer to stick to only human tenants. Some allow pets but only certain types.

The truth is that people love their pets. Whether they are partial to cats, dogs, rats, or reptiles, humans bond with pets and treat them as part of the family. Because so many people own pets, they also appreciate being able to rent at a location where pets can roam the property.

How Common Are Pets in a Corporate Rental?

When you’re deciding whether to allow pets, you need to do some thinking. If you decide you’re okay with pets, you also want to think about whether you have any rules. For example, you might only want to allow dogs and cats, prefer only smaller pets, or want to avoid some breeds.

Based on the CHBO Corporate Housing Real Estate Report for 2002, about 53% of people who offer a corporate rental don’t allow any pets. Only 12% of them allow any kind of pets. The rest often allow only dogs, only dogs and cats, or have similar rules.

Around 21% of owners allow pets but only if they are under 35 pounds, while 7% accept large dogs. Another 8% only allow pets to come with their owners.

The Top Consideration with Pets

Whether you love pets, are neutral about them, or could do without them, you need to consider one thing. When you choose whether to allow pets in your corporate rental, think about the damage that could come from it. While many guests will have well-trained pets that won’t damage any part of the home, that isn’t a guarantee.

The good news is that damage is fairly rare. Of the respondents to the survey, 82% said they have no property damage related to pets. About 15% said there was little damage and only 3% had a massive amount of damage from pets. So, if you are leaning toward allowing pets in your homes or apartments, this is something that can give you peace of mind.

However, please consider requiring accidental rental damage coverage for your reservations. This will help cover the cost of any damage caused by pets. Be sure you have a lease agreement that indicates that pets were welcome.

Ready to update your listing to allow pets? CHBO and open your rental up to a larger audience.

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