Our Latest News
In the multi-family industry, we’re always racking our brains for ways to be more inclusive, convenient, and attractive to potential renters. Since almost three-quarters of renters own pets, for many properties it’s a no-brainer to open up your community to four-legged friends. In doing so though, there are things to consider. You’ll want to weigh the pros and cons, and if you decide to make the leap, you’ll want to make your property stand out from the rest in order to attract renters with this non-negotiable qualification. Read on for our tips on how to best welcome pets and their owners to your community.
If your property isn’t already pet-friendly but you’re considering making the change, be sure to do so wisely. Some things you may want to consider are extra costs related to cleaning and damage, and the ability to incorporate amenities like dog runs or parks throughout your grounds. Be sure to check with your insurance company to see how pets may affect your premiums. If possible, try to account for this by charging an extra security or cleaning fee for renters moving in with pets. It may also be worth your while to poll your current residents and gauge how they might feel about opening up the community to pets so as not to upset your existing neighbors.
In most cases, pet owners tend to be more responsible adults, as they have taken on the task of caring for an animal. They may also be more likely to extend their leases or be attracted to your community in the first place due to a slimmer selection of options for apartment homes. Having pets throughout the community can also bring a welcomed camaraderie amongst residents, which in turn increases renter satisfaction and can attract future residents by positive word of mouth.
If you do decide to go pet-friendly, why not embrace it? You’ll be up against some competition from other pet-friendly properties in the area, and you can stand out by adding extra features and amenities that are convenient and enjoyable for pet owners, especially dogs who are likely to be more of a presence out and about in your community. If you have the area for it, consider adding a dog park where residents can let their dogs run around and interact with neighbors. Pet wash and pet waste stations will be appreciated by your renters, and may also help to cut down on the mess that these lovable pups inevitably bring with them. If you really want to go the extra mile, considering putting out dog treats and bowls of regularly freshened water for the dogs throughout your community to enjoy while taking a stroll around the property. Pet owners will appreciate the extra courtesy, and their stays in your community will be all the more enjoyable.
For more tips on successful multi-family properties, contact us today at Olympus.