Thursday, December 03, 2009

Pet Friendly Landlords Make More Money!

How to attract good tenants?

Allow pets. Many property management companies will no longer permit pets. Being pet-friendly can set you apart and attract more potential tenants to you. (Hat Tip: Trump Blog).

I'm surprised at the number of landlords that refuse pets. It's stupid. Pet owners will pay extra to have a place that is pet friendly. Pet owners typically average higher incomes than those without pets. Pet owners have more of a stake in where they live than those who don't (and can therefore more easily pack up and leave). The same is true for hotels, by the way. Hotels could make a lot more money if they allowed pets. Many hotels have become pet friendly, but many are not. In this economy, I can't imagine turning away good money.

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