I don’t know about you, but I cannot imagine our home without pets.  I’ve had one or more dogs living with me since I bought my first house (which is now a rental, by the way).  The vast majority of my friends are pet owners, as well.  

Now, I’ve only ever held a Colorado real estate license, so I don’t really know what it’s like in other states.  Trust me when I say that Coloradans are a pet-lovin’ group of people.  And why not?  We have pet-friendly trail systems and dog parks galore.  Having a pet often fulfills psychological and physiological needs for humans.    

So, when I say it’s important to consider allowing pets in your rental, I’m not saying this because I wouldn’t consider leaving our dog, Milo, behind if we moved.

I’m saying it because many of our prospective tenants are moving with their own lovable companions.  

When we meet prospective landlords for the first time, this is something that comes up often.  Should I allow pets in my rental property?  The short answer here is, yes.  We’ve been managing properties in the Pikes Peak Region since 2006.  Time and time again, I’ve seen landlords stick to a strict “no pet” policy only to see it cost them more in vacancy expense than any pet damage ever could.  

Do pets cause damage?  Of course.  This is a real risk.  However, disallowing pets shrinks the prospective tenant pool considerably.  This doesn’t mean we’re going in blind though.  We can mitigate some of this risk by screening prospective tenants to specifically see if the pet caused damage in previous homes.  

It’s also important to familiarize yourself with what breeds are allowed by your homeowner’s insurance policy.  Deciding to allow pets doesn’t mean you have to invite Cujo horror into your life.  There are plenty of ways to establish some boundaries.  For example, how many pets are okay?  Would a weight limit for dogs be helpful?  What kinds of pets would best be served by the property type?

So, if you’re considering renting a home (or reevaluating your pet policy on an existing rental), I’d really suggest you think about welcoming in some furry, scaly, feathered friends.