As more millennials shy away from having human children, they’re opting to adopt dogs, cats, and even ferrets as their children. Having a pet in an apartment presents a whole different set of challenges than raising one in a house. For one, you lack the yard a dog needs to get exercise and spend time outside. That doesn’t mean that dogs can’t be happy in apartments as long as you walk them. Cats are typically great apartment pets since they’re easy and enjoy spending time alone.
Renters aren’t the only ones enjoying the benefits of having pets in apartments; landlords who allow pets in apartments are able to increase rent or apply a pet rent as well as require a non-refundable pet deposit, which means more revenue. Here are the top benefits of pets in apartments.
Benefits of Pets in Apartments for Renters
People love their pets. In fact, some go as far as to put their pet in their wills and make their dog or cat their beneficiary. If you’re a renter, it may seem intimidating to have a pet in an apartment. Cats are the easiest apartment pets because they require little space and care, while dogs require tons of care, attention, and exercise.
While having a dog in an apartment may seem like a challenge, it can actually bring you tons of benefits.
Pets Support Us Emotionally
If you’ve ever had a pet, you know that they can have a significant impact on our mood. Having a bad day and coming home to your dog, wagging his or her tail at the door, can immediately change your mood. Not only that but looking into your pet’s eyes has been shown to increase dopamine levels in both you and your pet.
If you’ve ever felt lonely, you won’t with a dog or cat. Pets can help loneliness because you’ll always have a friend by your side. Instead of sitting alone watching television, you’ll have your pet on your lap to keep you company.
The simple act of caring for your dog or cat in any way can distract you from thinking about your life in a negative way. Instead, you’ll have things to do to keep your mind busy, like bathing your pet, taking him or her on walks, and taking care of their health.
Finally, we all know the benefits of snuggling. If you don’t have a partner, you can choose your pet (if he or she allows it). Dogs and cats enjoy being close to their humans as a way of strengthening the bond and communicating love toward them. The simple act of petting our pets can take away our stress, leaving us more emotionally healthy.
Keeps You Physically Healthy
Adopting a dog can keep you physically active. Dogs require at least 30 minutes of exercise a day, and since renters typically live in apartments or homes without fenced-in yards, they’ll need to take their dog on a walk. Not only is the dog getting exercise, but so is the pet parent, which means that renters will increase the number of steps they take daily, which has been proven to improve physical health.
Dogs have the reputation of being man’s best friend for a reason. Once you earn a dog’s trust, they are loyal for the rest of their lives, which means that they will always be there for you. Once your pet has bonded with you, he or she will be there for you no matter what. Even though our pets can’t speak to us, we still have ways of communicating with them, and they have ways of communicating with us that make us feel loved and appreciated.
Benefits of Pets in Apartments for Landlords
Some rental properties don’t allow pets because landlords know that pets make messes, which means replacing the carpet and repainting the walls after a tenant has lived there with a pet. Luckily, replacing items in the apartment that a pet may have destroyed isn’t as expensive as they make it seem. In fact, allowing pets in your rental unit can increase your revenue. Here’s how.
When you allow pets, you can increase the price of rent. That means that you’ll get more for the same square footage than your competition across the street will. While they may not have to replace the carpet after each tenant moves out, you can require a pet deposit that should cover the estimated costs of replacing the carpet and repainting walls. This pet deposit can even be non-refundable, and tenants with pets will still be happy to pay it as long as their dog or cat can live with them.
Allowing pets in rental properties may make your tenants want to stay in their rental homes longer. By allowing tenants to have their furry companions live with them, their apartment will feel more like a home rather than a rental. If you’re the only rental property in the area that allows cats and dogs, you may be their only option, which means that they’ll gladly pay more in rent and in fees to have a home for their pet.
The bottom line is that pets make their owners happy, and the happier your tenants are, the happier they’ll feel in their rental home. NOt only does this mean that they’ll stay longer, but it also means that you’ll get fewer calls for minor complaints, and your tenants won’t mind as much when you raise the rent each year.
There are, of course, some downsides for pet parents and landlords when it comes to having pets in apartments, but for pet parents, it comes down to whether or not they’re willing to take the extra time to walk their pet or provide for them differently than they would if they owned a house. Landlords will have to ensure that they charge enough in pet rent to replace carpet while still making money from the tenants with pets. The pros certainly outweigh the cons for everyone involved.
Matt Casadona has a Bachelor of Science in Business Administration, with a concentration in Marketing and a minor in Psychology. He is currently a contributing editor for 365 Business Tips. Matt is passionate about marketing and business strategy and enjoys the San Diego life, traveling and music.