The United States is a nation of pet-lovers. In fact, according to the Insurance Information Institute, over two thirds (68%) of U.S. households own at least one pet.
Essentially, this means that if you prohibit pets in your St. Petersburgh, Florida rental property, you’ll be limiting the number of applicants you can pick from. This can be pretty tricky, particularly in competitive rental markets.
Apart from having a large tenant poolto choose from, pet-friendly rentals have other benefits as well.
To begin with, you can enjoy a reduced tenant turnover.
In a study conducted by FIREPAW, Inc., tenants with pets were found to rent from the same landlord for a longer period of time. It was found that they averaged 23 months compared to 15 months for those without a pet.
Another benefit of renting to tenants with pets is your ability to earn more money.