How many landlords allow pets and what do they charge?

Many renters continue to travel with their pets. 43% of survey respondents say they accept pets (down from 48% in 2012). Of those that do accept pets, 67% of landlords say they they accept pets because it gets their properties rented. The most common rental period for renters with pets is one to three months. In 2013, the average, non-refundable, one-time pet fee that landlords charged was $204 (down from $253 in 2012). The average pet refundable deposit was $343, which is on par with 2012 results.

Allowing pets in your property can give you a competitive advantage over properties that don’t, a higher rental return, and a higher occupancy rate if managed properly. Although, when pets “misbehave”, they can cause substantial damage. To ensure that your rental stays in great shape, it’s imperative to have a comprehensive pet policy in place and take the time to qualify each pet. If you don’t currently allow pets in your property, and it doesn’t have any tenants, you may want to reconsider your stance on the matter.