Accepting Pets: Pros and Cons

Pros

Cons

Larger Tenant Pool

Many renters in the Denver Metro areas own pets due to the city’s outdoor lifestyle. Accepting pets can attract more applicants, reducing vacancy periods. Studies show that 70%+ of renters own pets, so not accepting pets could exclude a significant portion of potential tenants.

Potential Damage

Pets can cause damage to flooring, walls, doors, landscaping, and many other parts of a property. Some issues, like odors, may require deep cleaning or replacement once a tenant leaves.

Higher Rental Income

Pet-friendly properties often justify charging higher rents and a $300 pet security deposit per property. For example, if a person wants to live in a certain property and that owner does not want pets a negotiation on higher rent for that property can and often take place.

Noise Complaints

Dogs barking or other pet noises could disturb neighbors, leading to complaints. This is not frequent but can be a nuisance.

Tenant Retention

Pet owners tend to stay longer because it’s harder for them to find other pet-friendly housing. They also stay longer to provide consistency for their furry loved ones. The reduced turnover can save on costs for cleaning, advertising, and re-leasing the property.

Liability Risks

Pet bites or injuries could create liability issues. Requiring renters’ insurance with pet liability coverage helps mitigate this risk.

Competitive Advantage

Property owners who accept pets go to the top of most tenant searches on the internet. Many properties don't accept pets, so offering this option could make your property stand out.

Allergies & Future Tenants

Allergies from pet dander might make the property less appealing to future renters without pets.

Pros

Cons

Minimized Risk of Damage

Without pets, there’s a lower chance of damage to flooring, doors, or landscaping and other parts of the home.

Reduced Tenant Pool

Many renters with pets will skip over your listing, making it harder to fill vacancies quickly. Longer vacancies could offset the savings from avoiding pet damage. ChatGPT has a prompt for this: estimating potential pet-related income? Give it a try, it is informational.

Fewer Complaints

Avoid issues like noise disturbances or pet-related disputes with neighbors or other tenants.

Lower Rent Potential

Without pet rent or fees, you may miss out on additional income opportunities.

Easier Maintenance

Cleaning and turnover processes are simpler and cost less without pet-related messes.

Shorter Tenancies

Tenants without pets may be more likely to leave sooner since they don’t have pets to weigh them down.

No Liability Concerns

No risk of lawsuits stemming from pet bites or other pet incidents.

Lost Competitive Edge

Denver is a pet-friendly city, so not allowing pets could make your property less appealing compared to others.