Pet amenities are in high demand at multifamily rental properties across the country. According to the American Veterinary Association, an estimated 50 percent of renters have pets, and 35 percent of renters who do not have pets say they would have them if their landlords allowed them. It’s high time to include pet care in your investment property management skills.
Property owners who do allow tenants to have pets are often able to charge higher rental rates to tenants with pets, and pet owners are happy to pay a little more for a pet-friendly home. Landlords who accept pets typically add $1,000 or more annually to their income. Additionally, vacancy rates for pet-friendly rentals are 10 percent compared to 14 percent among rental properties that do not accept pets.
Multifamily property managers are motivated to keep their pet-owning tenants happy and attract new tenants to the pet-friendly community, and they’re doing that by adding innovative pet amenities and events for canines and their owners can mix and mingle.
Investment property management experts should consider adding some of these great pet amenities, designed to create a carefree and active lifestyle for tenants and their pets, to their multifamily communities:
1. “Bark Parks,” onsite dog parks where resident pooches can do their business more privately, away from other residents.
2. “Yappy Hours,” rendezvous for pet-owning residents and their pups to mingle and make friends. “Yappy hours make complimentary dog treats available and host pet-of-the-month awards.
3. Treat and hydration stations for active tail-waggers.
4. Dedicated doggie paddle pools
5. Dedicated dog washrooms with deep bathing sinks and gentle rinse faucets, grooming tables, and even pet spa services provide tenants with an awesome alternative to bathing Buster in the bathtub! Dog washrooms are popular amenities among pet-owning tenants.
6. Pet CPR classes
7. A pet concierge services offer busy tenants in-home services like pet sitting, dog and cat grooming, dog walking, and puppy training. There’s a wide variety of pet concierge companies like Baroo and Bark Buildings throughout the U.S.
8. Property managers can also make their multifamily communities accessible to dog walking services like Wag! The Wag! Dog walking app is available across the U.S. and pairs residents with local dog walkers. The app even provides a map of where the dog was walked and sends confirmation photos, making it an ideal amenity for working pet owners.
9. Sanctioned areas for dog walking and rooftop dog runs help keep dog waste confined. Strategically placed dog waste stations help support proper waste disposal.
- Some property managers are using DNA testing to identify pet owners who fail to clean up their pet’s poop. Companies like PooPrintshelp apartment rental managers enforce pet waste policies and impose fines on residents who violate them.
Rental community pet amenities are continually evolving as the demand for pet services among tenants increases. Coming soon are innovative apps to help pet owners organize and simplify their pet finances.
As the expectations of pet-owning tenants change and as a part of the investment property management team, it’s important for you to stay on top of the pet amenity trends in the multifamily industry. Few amenities are as appreciated by tenants who own pets. Establishing your multifamily as pet-friendly will attract more tenants who are willing to pay more to live and play in your community.