According to the article, U.S. Apartment Owners See Profit Potential in Pooches by Dawn Wotapka, on Nasdaq.com, apartment owners across the country are implementing dog friendly policies in order to attract and retain tenants. Many in the industry are attributing the shift towards dog friendly properties to an increase in competition from new construction and changing demographics. Many landlords used to view pets, in particular dogs, as an annoyance to neighbors and felt they were too prone to damage property. Now, there’s a sense that landlords have to allow them, especially in order to attract the younger renters who tend to marry later and stay longer. In addition, landlords are competing with an abundance of new properties being built due to the housing collapse, which lead to an influx of renters to the market.
A large majority of rental properties only allow dogs up to a certain size, which can also be a deterrent for prospective renters. The truth is that large dogs often require equal or less exercise than smaller dogs. And those dogs that are vertically challenged with a napoleon complex are often far more likely to be yappy than larger dogs. In fact, the intimidating, deep bark of large dog will keep away those who don’t belong. Whether it’s a cat, dog or other furry friend, allergies are also a concern for many renters. Dander doesn’t fly off of animals and attack people, so unless you’re in an enclosed space where the animal has been for a long period of time, there’s no issue. If you don’t want to sneeze, don’t pet the animal or visit the pet owner’s home. Pet owners are becoming a majority in today’s day and age, especially dogs. If you have more rentals than renters, perhaps it’s time to consider allowing pets if you haven’t already. The risk is certainly far less than the reward.