The Benefits of Renting to Tenants With Pets

Key Takeaways

• Increased Rental Income: Allowing pets can lead to higher rent or additional pet fees, boosting your overall rental income.
• Lower Vacancy Rates: Pet-friendly properties attract more interest and rent out faster due to the high demand for pet accommodations.
• Longer Lease Terms: Pet owners tend to stay longer in rental properties, reducing turnover costs and increasing stability for landlords.

Have you ever turned away potential residents simply because they had a pet? Many landlords worry about property damage, noise complaints, or liability issues when renting to pet owners, but what if saying "yes" to pets could actually work in your favor?

The truth is, pet-friendly rentals are in high demand, and landlords who embrace this opportunity often see lower vacancy rates, longer lease agreements, and responsible residents who care for their homes.

At Ocean Realty & Property Management, we’ve helped landlords across St. Augustine maximize their rental income by opening their doors to pet owners. Let’s explore why allowing pets in your rental property can be a smart and profitable decision.

Overlooked Benefits of Renting to Pet Owners

Many landlords hesitate to allow pets, missing out on valuable opportunities. From boosting rental income to reducing vacancies, here are eight overlooked benefits that can make pet-friendly rentals a smart investment.

1. Higher Rental Income

Many landlords hesitate to allow pets, but those who do can often charge higher rent or pet fees. Residents with pets are willing to pay more for a comfortable home where their furry companions are welcome. A reasonable pet deposit or a small monthly pet rent can add to your income without requiring extra effort.

For example, a landlord in St. Augustine listed two similar properties—one pet-friendly, the other not. The pet-friendly unit rented out first and at a slightly higher rate, simply because pet owners had fewer options.

2. Lower Vacancy Rates

Finding a pet-friendly rental can be challenging for residents, which means your listing will attract more interest and fill up faster. Since fewer landlords allow pets, your rental property will stand out in the market, reducing the time it sits vacant.

For example, a property owner working with Ocean Realty & Property Management had struggled with long vacancy periods. After making their unit pet-friendly, they received multiple inquiries within days and secured a resident quickly, avoiding months of lost rental income.

3. Longer Lease Terms

Pet owners know how difficult it is to find a rental that accommodates their needs. Because of this, they tend to stay longer rather than risk another exhausting search. Longer lease terms mean less turnover, lower marketing costs, and fewer expenses for preparing the unit for new residents.

For example, a landlord in St. Augustine had a resident with a cat who renewed their lease for three years. They mentioned that moving would be too stressful for their pet, so they were happy to stay put—saving the landlord time and money on finding a new resident.

4. More Responsible Residents

Pet owners often display responsible behaviors, from paying rent on time to keeping their living spaces clean. Many landlords find that pet owners, especially those with trained animals, take extra care of their homes because they want to maintain a good relationship with their landlord and secure a long-term place to live.

For example, one landlord was hesitant to allow pets but decided to give it a try. Their first pet-owning resident turned out to be one of the most reliable, always paying rent on time and even taking better care of the landscaping than previous residents. It changed the landlord’s perspective on renting to pet owners.

5. Reduced Turnover Costs

Every time a resident moves out, landlords face costs for cleaning, repairs, renovations, and marketing the property to find a new resident. Since pet owners tend to stay longer, turnover costs decrease significantly. Fewer move-outs mean less time and money spent preparing the unit for the next resident.

For example, a St. Augustine landlord who previously avoided pet owners started allowing them after noticing longer lease terms. Over five years, their turnover rate dropped by nearly half, saving them thousands in repainting, cleaning, and advertising costs.

6. Competitive Advantage

With so many landlords restricting pets, offering a pet-friendly rental immediately sets your property apart. A large percentage of renters own pets, so allowing them gives you access to a bigger pool of potential residents. This simple adjustment can make your property more desirable in a competitive market.

For example, a landlord had two units sitting vacant for months. After making one pet-friendly, that unit rented out in just a week, while the pet-restricted one remained empty. Seeing the difference, the landlord updated both listings to allow pets and quickly found responsible residents.

7. Stronger Resident-Landlord Relationships

Allowing pets can improve your relationship with residents, making them more cooperative and respectful of the property. When residents feel their landlord understands their needs, they are more likely to communicate openly and follow lease agreements responsibly.

For example, a landlord in St. Augustine who allowed pets noticed that residents were more engaged and willing to report maintenance issues early. Because they felt valued as pet owners, they took better care of the unit and built a positive, long-term relationship with the landlord.

8. Higher Property Demand

Pet-friendly rentals often attract more interest, which can lead to increased property value over time. If you ever decide to sell or expand your rental portfolio, having a reputation for welcoming pet owners can make your properties more appealing to buyers and investors.

For example, a property investor working with Ocean Realty & Property Management noticed that pet-friendly units consistently had higher occupancy rates. When it came time to sell, the property’s strong rental history and demand made it an attractive purchase for other landlords looking for a reliable investment.

Bottom Line

Renting to pet owners comes with unexpected benefits, from higher income to longer lease terms and lower turnover costs. By allowing pets, you can attract responsible residents and keep your property in high demand.

If you're unsure about the best approach, Ocean Realty & Property Management is here to help. Our team can guide you through pet policies, lease agreements, and risk management. Reach out today to explore the right options for your rental property!