Pets and the Houston real estate market : tips for property managers

For professionals in the Houston real estate market, expanding the pool of potential applicants can be a great way to reduce vacancies in managed properties. As a Houston TX property manager, why not consider renting to tenants with pets? While there are horror stories about irresponsible pet owners passed around online condo management forums like Bigger Pockets (www.biggerpockets.com), what often goes overlooked are the large number of responsible pet owners looking to establish long term relationships with companies providing apartment rental services in Houston, TX. This article takes a look at some of the ways a Houston TX property manager can benefit by renting to those with pets.

If I've got my home to rent, I may be worried that a pet will cause considerable damage. However, organizations like FIREPAW, the Foundation for Interdisciplinary Research and Education Promoting Animal Welfare (www.firepaw.org) have shown that pet friendly apartment rental services often find significant financial benefits come from renting to pet owners. Here are some of the reasons why:

• Pet friendly rentals properties are vacant for shorter periods of time

   

  In the Houston real estate market there is a property glut, but very few employed people are looking to rent condos, apartments or single family homes. Why not maximize the pool of potential renters by taking a friendly approach towards pets? In the business of condo management, a property that sits vacant is losing money. Imagine a condo costing $2,000 dollars a month. If that property is vacant for a period of two months while a Houston TX property managertries to find a suitable tenant without pets that means $4,000 dollars have just been lost! By renting that property to someone with pets, the property remains occupied and the $4,000 dollars will more than cover any damage caused by a pet.

   

• Tenants with pets become long term renter

   

  Companies offering apartment rental services know that tenants who own pets move less frequently. The goal of any professional in the Houston real estate market is to generate a loyal base of clientele who occupy rental property for as long as possible. Pet owners know that finding new pet friendly accommodations can be quite a hassle, so once they've found a suitable apartment they tend to move less.

   

• Renting to pet owners generates more revenue

   

  One of the first principles of condo management is to maximize the return on your investment. From requiring larger security deposits to a higher monthly rent, pet owners generate more income for their landlords than non pet owners. The demand for pet friendly apartments in quite high, but the supply remains low. With my home to rent and a pet friendly policy, I can charge more per month based upon the high demand.

   

• Pet friendly landlords spend less on advertising

   

  Those in apartment rental services know that the expenses associated with marketing a rental property can be quite high. Properties with pet friendly rental policies are often on the market for a lot less time than those that don't allow pets.

   

  Renting to tenants doesn't have to be a nightmare. Property management professionals in Houston, TX know that renting to those with pets has numerous benefits, for both tenant and landlord.