The real estate market in Killeen, TX has witnessed a tremendous increase in demand for pet-friendly homes in the last decade. Thus, by letting your rental home to tenants with pets, you will not only open your property to a wider pool of tenants, but also encourage them to stay for a longer duration. Making your rental home pet-friendly requires a lot of deliberation. You should make flexible policies and formulate a ‘pet agreement’. Get this agreement duly signed by your tenants along with the lease documents before they move into your home.
Here are some of the benefits of making a rental property pet-friendly:
- Increase in number of tenants: By allowing pets on your property, you can increase the number of potential tenants. This will give you more options to choose the most suitable occupants for your property. Also, due to the limited number of pet-friendly rentals available in Killeen, you can significantly increase the demand of your property in the market.
- Financial benefits: You can increase the returns from your investment property if you have a pet-friendly rental. Monthly pet charges and rent make up for a good amount of money. Pets are considered as a part of the family and the tenants are always willing to find the best place to live with them.
- Get a pet inspection fee: As a landlord, you can charge a one-time pet inspection fee from your tenant. The inspection includes registering the pet with the property, clicking the pet’s picture, keeping copies of the veterinary records and taking a DNA sample.
Tips to make your property pet-friendly:
- State the terms and conditions: Clearly mention in your pet agreement about the category of pets and breeds you will allow in your property. You also need to specify the number of pets you will permit.
- Be aware about the laws: Every state has its own laws regarding pet-friendly rentals. You must be aware of these laws in order to avoid any trouble in the future. Educate yourself about how much ‘pet deposit’ you can impose on the tenant.
- Pet-friendly interior: You can have pet-friendly flooring in your home that can be easily cleaned and is resistant to scratches. For instance, hardwood flooring or ceramic tile flooring is a good option if you have a dog.
We, at Lone Star Realty & Property Management, Inc., can help to make your rental home pet-friendly. For more information, you can call us at (254) 699 – 7003 or visit our office at 1020 W Jasper Dr, Killeen, TX 76542.