The Pros: Why a Pet-Friendly Policy Pays Off

1. A Much Larger Tenant Pool: In Ohio, 62% of households own pets. By having a pet-friendly policy, you open your property to more than half of the rental market. This significantly increases your applicant pool and reduces the time your property sits vacant.
2. Higher Earning Potential: Pet owners are often willing to pay a premium for a property that accommodates their animals. You can offset potential risks by charging a pet deposit, a non-refundable pet fee, or monthly pet rent. The average pet deposit in Toledo is $200–$500, while pet rent is typically $25–$50 per pet per month.
3. Longer Tenancies: Pet owners tend to stay in their homes for extended periods because it’s difficult to find other suitable pet friendly rentals in Toledo. This means less turnover for you, which saves you the significant costs of re-listing, cleaning, and preparing the unit.
4. More Responsible Tenants: A Michigan State study suggests that owning a pet teaches responsibility. In a similar vein, pet owners are often seen as more reliable tenants. A strong pet policy attracts tenants who are committed to caring for their pet and, by extension, your property.

The Cons: The Risks of Allowing Pets

1. Potential for Property Damage: This is the number one reason many landlords are opposed to pets. Pets can scratch floors and walls, rip carpets, and create odors that are difficult to remove. This is a legitimate risk that must be addressed in your lease.
2. Liability Concerns: While a landlord is generally not liable for a tenant’s dog in Ohio, there are exceptions. A landlord can be held liable if they knew the dog was dangerous and did nothing, or if the dog attack occurs in a common area.
3. Noise and Neighbor Complaints: Dogs that bark excessively or other pets that cause disturbances can infringe on a neighbor’s right to a quiet and peaceful home. This can lead to friction among tenants and even lease terminations.

The Buckeye Northwest Realty Solution: Turning Risks into Rewards

1. Rigorous Pet & Tenant Screening: We use a comprehensive screening process that includes not only the tenant’s rental history, credit, and income, but also a thorough pet screening. We request vet records and references from previous landlords to assess the pet’s behavior and the owner’s responsibility.
2. A Clear, Enforceable Pet Policy: We help you craft an air-tight landlord pet policy that outlines all rules and expectations in the lease. This includes specifying the pet deposit, pet fee, and pet rent, as well as rules about breed, weight, and waste removal. This sets clear boundaries from day one.
3. Proactive Risk Management: We reduce your liability by ensuring your property is secure. We handle all tenant complaints professionally, and we have a clear process for addressing disturbances caused by pets.