The Fastest Way to Fill a Vacancy? Allow Pets.

In our current market, rentals are moving slower than desired. One simple policy change can dramatically increase your pool of qualified applicants. Allowing pets.

With more than two-thirds of U.S. households owning a pet, restricting rentals to “no pets” automatically eliminates a large portion of prospective tenants. For landlords, this often means longer vacancy periods and more price sensitivity. By contrast, pet-friendly rentals tend to lease faster and frequently at higher monthly rents. Here’s why:

First, you have a larger applicant pool and these tenants are willing to commit quickly when they find a suitable home. Realistically, you are limiting your tenant search to1/3 of customers if you don’t accept pets. 

Secondly, pet owners are often more urgently looking for a place, so anything vacant that will accept them, is a yes, and since its harder to move and find a place that accepts pets, they also stay longer. Creating less turn over for your investment property.

In competitive markets, allowing pets can reduce vacancy time by one to three weeks compared to similar non-pet-friendly properties. Since vacancy is often the largest expense for landlords, even a two-week reduction can represent significant savings. For example: If a home rents for $2,000 per month, two weeks of vacancy costs approximately $1,000. Filling the property faster protects your cash flow.

Yes, I said it! Higher Rental Income.

Because pet-friendly inventory is limited, landlords can often command higher monthly rent, non refundable up front fees and even charge a monthly pet rent ON TOP of the rent price.

Over a 12-month lease, even an additional $50 per month results in $600 in additional income — not including upfront pet fees. In many cases, the increased income offsets potential wear and tear.

Yes, I know the risks.

While the financial benefits are compelling, it’s important to manage the risks properly. The most common issues are chewed trim or doors, carpet stains and odors, scratched doors and yard damage. All of these items are fair charges to a tenant when they vacate a home. Ideally the deposit will cover them, but let me say this, a large family with young kids can create all the same issues. Unfortunately, these are normal wear and tear, not just pet damages.

A good owner or property manager will use these mitigation strategies:

        - Require pet screening (vet records)

        - Limit size, breed, or number of pets

        - Charge pet fees and/or pet rent

        - Conduct regular inspections

        - Use durable flooring materials

        - Include clear pet behavior clauses in the lease

        - Create reserves accounts to have funds to cover repairs when warranted

Allowing pets is not just a lifestyle policy — it’s a strategic business decision. When managed properly, it can increase your rental income, reduce vacancy, and give your property a competitive advantage in today’s market. The key is not simply allowing pets — it’s allowing them responsibly.