A lot of landlords are torn about turning properties into pet-friendly rentals in Florida. Nowadays, more people consider their pets as part of their families, so more renters are looking for places that accept furry companions. But as a landlord, will allowing pets be worth it?
Why Consider Pet Friendly Rentals in Florida?
More people embrace pet culture. In fact, according to a study, around 70% of U.S. households own pets. Florida is no exception, with its many dog parks and pet-friendly beaches. When you cater to pet-owning tenants, you’re tapping into a substantial portion of the rental market.
Broader Tenant Pool
Pet owners have a hard time finding places that also welcome their animal pals. As a landlord, if you market your property as pet-friendly, more people will likely notice. A lot more families and individual pet owners will notice your listing. This lets you tap into a broader pool of possible tenants.
Higher Rental Income
It’s no surprise for pet-friendly places to charge more. Doing this helps you get the funds you need to cover possible damages. On top of that, it also increases your overall revenue. Pet friendly rentals in Florida can usually charge premium prices, even in a rental market that’s competitive. It’s a financial opportunity worth considering.
Longer Lease Terms
Because pet-friendly housing can be challenging, tenants with pets are more likely to stay long-term. This stability helps lower tenant turnover, which saves money on advertising, cleaning, and prepping the property for new renters. You also get more consistent income with longer leases.
Is Florida a Pet-Friendly State?
Yes, Florida is undeniably pet-friendly. Renters with pets can find countless amenities that welcome them. Florida’s pet-positive culture is also seen among rental properties. Today, more landlords are aware of the demand for pet-friendly properties. By taking advantage of this trend, you can easily stand out when advertising your property.
Community Acceptance
Other than public parks and beaches being pet-friendly, more HOA neighborhoods and planned communities now also welcome pets. These areas will also have common amenities that welcome pets. This helps landlords attract more pet-owner renters to lease their properties.
However, while many HOAs welcome pets, do note that regulations about pet ownership will vary per community. Regulations and restrictions about living with pets should be outlined in the governing documents. So, if you’re a landlord for a property in an HOA community, make sure to check policies first before advertising your rental as pet-friendly.
Legislation Supporting Pet Owners
Federal and Florida state laws protect the rights of service animals and emotional support animals.
At the federal level, the Americans with Disabilities Act (ADA) prohibits discrimination against people who may require a service animal. On a state level, this is echoed by Florida Statute Section 413.08(9).
Familiarizing yourself with these laws can help you craft policies aligning with legal requirements and tenant needs.
Potential Challenges of Renting to Tenants with Pets
Yes, allowing pets has many benefits. However, landlords should also consider the possible downsides. Here are some of them:
Property Damage
Having a pet in a home runs the risk of more property damage. Depending on the animal’s disposition, having pets around can cause wear and tear faster and beyond what you’d expect from pet-free counterparts.
Some common damages you may encounter include scratched floors, chewed fixtures, and stained carpets. These damages can lead to higher maintenance costs.
Noise Complaints
Pets can be noisy. That noise easily annoys and disrupts the other residents in the area. Barking dogs or noisy pet birds can be a point of contention between neighbors. So, if you plan to allow pets, make sure to include a noise policy.
Liability Concerns
In some cases, pets can hurt other people. These injuries can lead to liability issues for both tenant and landlord. Florida does not impose blanket laws for pets in rentals. However, as a landlord, you should make it a point to have enough insurance coverage. You should also consider breed restrictions to address potential risks. Doing this can protect you from financial and legal consequences.
Do Condos in Florida Allow Pets?
This depends on the condominium association. Some condos have strict no-pet policies. Others are openly friendly. There are also places where pets are welcome but that also impose strict regulations on what and how many pets a renter can have.
If you own a condo unit, reviewing the association’s rules is crucial before advertising your property as pet-friendly.
Setting Up a Pet Policy for Your Rental Property
If you decide to allow pets, you need to create a detailed pet policy. Having one ensures that both you and your tenants are protected by setting clear expectations.
Screening Process
Screening is a must when you have a pet-friendly property. Part of pet screening should be asking the pet owner for details about their pet. Typically, you should ask for the pet’s breed, size and weight, age, and vaccination records.
Having information about the pet helps you weigh the risks of letting pets onto your property. It also ensures that the pet is a good fit for your property. If you can, you should also ask for references from previous landlords. Doing this helps paint a picture about the pet’s behavior.
Deposits and Fees
If you plan to accept a pet owner tenant, you should clearly outline any pet-related costs. These may include non-refundable pet fees, monthly pet rent, and refundable pet deposits.
Letting possible tenants know about higher fees upfront shows your transparency as a landlord. This helps build trust and rapport between you and your tenants. It also minimizes disputes and misunderstandings.
Breed and Size Restrictions
In your pet policy, you also need to specify any limitations on pet breeds, sizes, or the number of pets allowed. However, keep in mind that breed restrictions might conflict with service or emotional support animal protections. For best results, you need to learn how to balance these restrictions with compliance to state and federal laws.
Behavioral Expectations
Include rules about pet conduct, such as limiting noise levels, proper disposal of pet waste, and supervision of pets in shared areas. These guidelines create a framework for responsible pet ownership and reduce the likelihood of complaints or conflicts among tenants.
Insurance Requirements
Some homeowner’s insurance policies may also exclude coverage for specific dog breeds or incidents involving pets. Then, you must also ensure that your insurance policy covers potential liabilities associated with renting to tenants with pets. Proactively addressing this can protect your property and financial stability.
Pet-Friendly Vacation Rentals in Florida: A Good Idea?
Florida’s booming tourism industry offers another lucrative avenue for pet-friendly rentals. Vacationers often bring their pets along, especially in popular destinations like Orlando, the Florida Keys, and Tampa. By allowing pets in your vacation rental, you can attract a growing segment of travelers who prioritize pet-friendly accommodations.
Allowing Pets an Advantage?
Offering pet friendly rentals in Florida can be a profitable and strategic decision for landlords. The state itself has pet-friendly culture, making a particularly appealing opportunity. If you manage to understand what this entails, you can easily navigate the pros and cons that come with renting to tenants with pets.
Do you need help in handing pet-friendly rentals? A property management company may be able to help. Check out our online directory to find Florida’s best property management companies!
RELATED ARTICLES: