The Benefits of Offering Pet-Friendly Rentals in Fells Point
The Benefits of Offering Pet-Friendly Rentals
The Benefits of Offering Pet-Friendly Rentals in Fells Point
Baltimore City doesn’t get high marks when it comes to pet-friendliness. In fact, Wallethub put it at 88 out of 100 when ranking pet-friendly cities. The Millennial generation is overwhelmingly full of renters, with only 32.2 percent owning homes, and they’re also the largest demographic of pet owners.
This combination leads to a lot of frustration in the Baltimore metro area, especially in trendy areas for young professionals such as Fells Point. Renters run into many barriers trying to find housing that allows their furry companions:
• Weight limits
• Breed restrictions
• Restrictive pet amounts
• Excessive pet deposits and pet rent
At the Baltimore Animal Rescue and Care Shelter (BARCS), Baltimore City’s open-admission shelter, one of the most common reasons for owners surrendering their animals is a lack of pet-friendly housing. When you allow tenants to have pets, you’re not only expanding your potential renter pool, you’re also helping to keep animals out of Baltimore City’s overcrowded shelter. You end up making more money and supporting a good cause – that’s a win-win scenario.
Impact of Pets on a Rental Unit
The first thing on any property owner’s
mind is whether a pet will damage the rental unit and increase maintenance costs. This is a valid concern, but in many cases, the animals aren’t any more destructive than your typical family. These renters are also overwhelmingly willing to pay higher costs that offset the potential damages. You end up coming out ahead on the financial front, even if you run into the rare situation of the pet being extremely destructive. You may have a pet deposit, pet rent, or both in place. When the pets and the tenants are great, then you have a lot of extra money coming in for the same rental unit. There are several screening methods that will minimize the chances of ending up in that type of scenario, as well.
With that being said, it’s essential to know where the most significant impacts are so you can plan accordingly. The area of most concern tends to be the flooring. Look at your maintenance and turnover itemized lists whenever non-pet owning renters move out. If you’re already doing carpet repairs, floor refinishing, and other flooring maintenance, then the wear and tear associated with well-behaved animals aren’t going to be much of a problem.
Dog nails can cause scratches and gouges on hardwood flooring. Renters can minimize this type of damage with area rugs and runners strategically placed throughout the high-traffic areas of the unit. These rugs also have the benefit of decreasing the sound levels from an upstairs apartment. The dogs should also get nail trims at a groomer or be walked on hard surfaces, such as concrete, to help file them down.
Most dogs also need to go outside to go to the bathroom. If your Fells Point rental unit has a yard, then that’s where the animal is going to do their business. Otherwise, the renter needs to find an appropriate location, such as a dog park, for their needs. As long as the tenant cleans up the dog’s mess, then there is little problem with this behavior.
Cats may scratch on carpeted areas if they don’t have suitable alternatives. Responsible cat owners will keep their cats’ claws trimmed and provide appropriate scratching surfaces for this behavior. Spraying and marking are other concerns, due to the distinct smell and lasting power of cat urine. Properly socialized and spayed/neutered cats rarely exhibit this type of behavior, and enzyme-based cleaners such as Nature’s Miracle destroy this type of stain and scent. In Baltimore City, cats are not allowed outside without being on a leash, (except for outdoor-only, ear-tipped community cats) so the impact to your yard will be nonexistent.
The Fallacy of Breed-Specific Restrictions
Some landlords and property management companies allow certain breeds of pets on their property but reject those that are considered higher risk. However, breed-specific restrictions are often based on several fallacies and have a particularly negative impact in Baltimore due to the prevalence of Pitbull and Pitbull mixes in the city.
The biggest fallacy is that the breed of the dog predicts the behavior of the dog. Dogs are individuals and should be assessed based on the behavior they show, rather than what they look like. Dog DNA testing has shown that trying to determine a dog’s breed based on its looks can be incredibly misleading.
Many of the so-called dangerous breeds are pulled from the homeowners or commercial insurance provider’s policies. The breed selection may be based on outdated information or a lack of understanding of dog behavior.
Quality tenants are worth their weight in gold, so driving a potentially great match away simply based on the breed of their dog, rather than looking at its behavior, is not a sound business decision.
Creating a Pet Policy
If you’ve decided to offer pet-friendly housing, it’s crucial to develop a concrete Pet Policy that covers expectations and all requirements. One common mistake in taking on pet owners is creating a non-refundable pet security deposit. You remove the incentive the tenants have of making minor repairs and proactively stopping their pets from causing damage. A partially or fully refundable deposit is a much better idea for this situation.
Try to keep the pet security deposit at a reasonable level that’s in-line with the expenses associated with wear and tear. Since you’re charging this alongside your standard security deposit, you should have more than enough to cover your costs. Some property owners choose to set this at a per-animal rate, while others have a blanket cost. You can set up the pet rent in the same way. The extra money adds up, especially when you’re not doing anything extra to get it.
Spell out the responsibilities that the pet owner has to their animals in regards to your property. For example, state that they have to clean up dog waste promptly from the yard and maintain litter boxes indoors. For how many pets to allow in the home, consider your comfort level and the logistical realities of this number. For example, three dogs offer a much different risk than three cats.
Establish the steps that the tenant must go through to get an approval for an additional pet so they’re aware, if they are not at the maximum number of pets per unit.
Screening Pets
A big part of making pet-friendly housing in Fells Point successful is understanding how to screen pets. When you have a thorough pet screening process in place, you reduce the chances of running into problems with this renter’s animals. Here’s what to request:
• Photos of the pets: You’ll want to keep these on file for your reference.
• Previous landlord references: Find out how the pets acted at previous rental units to get an idea of their suitability for your unit. The prior landlords may not go into detail or disclose all information for various reasons, so be prepared to read between the lines for this part.
• Veterinary and vaccination records: You’re looking for whether the animal is spayed or neutered, as that eliminates a significant amount of problematic behavior for dogs and cats. You also want to see whether they are vaccinated against rabies at the very least, as that’s a requirement in Baltimore City. Additional vaccines, such as the FVRCP for cats and DHLPP for dogs, protect pets against common disease vectors. Finally, look for at least an annual visit at the vet. When the pet owner is diligent about the care and requirements of their pets, they’re likely to be responsible people overall. You can ask for vet references and contact the offices directly if you want to get more insight into these pets.
• Obedience and training class certificates: Many types of training classes are available for dogs, and these courses frequently issue certifications. Basic obedience training is an excellent certification to look out for.
• In-person meeting: The goal of an in-person meeting with the pets is different with cats and dogs. Cats are frequently wary of strangers, especially if they are being presented in a carrier in a new location. You simply want to verify that the cats shown are the same ones that were given to you in the applicant’s pictures. For dogs, you’ll want to see how they behave around you and in an indoor location. You should also pay close attention to the way the applicant treats the dog. Is the pet owner handling the dog competently and calmly, or are they dragging it around and yelling at it? Is the dog barking the entire time and lunging at you? An uncontrolled animal is not likely to be one that is the right choice for your rental unit.
• Baltimore City pet licenses: Baltimore City requires pet licenses for all pets. When the applicant already has the licenses handled, they are showing another way that they are a responsible pet owner.
• Information about the pet’s background: How long has the person had the pet? Where did they get it from? What type of temperament does the animal have?
• Tenant’s experience with that pet species: Is this the first time they’ve owned a cat or a dog, or have they been pet owners their entire life?
• Check-in after move-in: Schedule a time to check-in with the tenant and their pets after the move-in process, if you end up approving them. By inspecting the unit after a month and seeing how well the pets have settled in, you can see whether this relationship should continue over the long-term.
• Involvement in animal rescue, the veterinary field, or other animal-related groups: People who are in an animal-related area or volunteer with animal organizations often have a better than average understanding of animal behavior and requirements.
• Are there any medical or behavioral challenges: Find out whether the animal has unique needs, and what the applicant does to accommodate those. When they’re proactive about finding solutions, that’s a good indicator that they’ll be on top of any problems that may occur.
The Secret Benefits of Pet Owner Renters
One of the most significant benefits that come from opening your rental property to pet-owners is being able to fill the unit quickly. The Fells Point rental inventory for pet-friendly housing is sparse, so a listing that offers a fair pet policy will get a lot of attention.
The other major benefit is that you end up with renters who are likely to renew their leases. Minimizing turnover is an essential factor in maximizing your rental income. Since it’s difficult to find pet-friendly housing in Fells Point, many renters will stay put rather than trying to find another housing option. In many cases, they stick around until they’re ready to buy their own home.
Expanding Your Rental Unit Marketing Opportunities
Most rental listings do not allow pets, so you’re going to stand out in the Baltimore City marketplace. Outside of adding that you’re pet-friendly to standard rental listing websites, you also gain access to pet-specific marketing resources.
The Maryland Pet Gazette publishes pet-friendly housing listings in its online and printed guide. Several Facebook groups and pages for pet-friendly Maryland and Baltimore housing are available for advertising your listing. Rescue Well, a non-profit organization that reduces pet surrenders, frequently has clients facing challenges with finding pet-friendly accommodation. You can let them know that you have a unit available to get added reach for your listing. The People With Pets website is another pet housing specific opportunity.
Rentals that are Poor Fits for Pet-Friendly Policies
Some types of properties are poorly suited to support pet-friendly policies.
• Furnished units: If you offer furnished rental units, then you may not feel comfortable with the risk of pets damaging your furniture.
• Historic houses: If damage occurs to specific components, it may be impossible to replace due to a lack of material availability. The repairs may be prohibitively expensive, in the case of stained glass being broken or a similar house feature.
• Costly flooring: If you’ve imported your flooring from the other side of the earth or have exotic hardwood that has specialized care needs, then you probably don’t want to have dogs running across it.
Pet-friendly housing opens up a lot of benefits and opportunities for your Fells Point rental units. Ultimately, whether or not you allow pets comes down to your risk tolerance weighed against the lower turnover rate, higher per-unit cashflow, and faster fill rates.
