Pet adoption rates skyrocketed during the pandemic, and now pet-friendly properties are more in demand than ever. Oftentimes, landlord and property managers only see the perceived hassles that are involved in permitting pets on property. In today’s world, money is only being left on the table by not offering tenants an option to house their furry friends. They’ll just take their pets (and their money) elsewhere.
With the growth of pet management platforms, managing pets on your property has never been easier. While these services come at a cost, they provide substantial value. By allowing you to track every animal on property and charge associated deposits and fees, these platforms help alleviate the stress and time involved in pet management while providing you with a positive return on your investment.
Whether you already have pets on your property or are considering it, don’t go at it alone. Here are the specific ways a pet management platform can help you earn extra income and more than recoup the cost involved in subscribing to them.
Collect Pet Deposits/Pet Rent
A security deposit isn’t always foolproof. If a pet causes damage to an apartment, it’s possible that the repair costs could exceed the tenant’s security deposit. What happens in that case? Most landlords understand that it’s not worth taking them to court, where they could end up spending more money than they would recoup.
By collecting pet deposits up front when a tenant chooses to house an animal, you have more money to help cover any damage that may be left behind (in addition to the security deposit). Monthly “pet rent” charges have also become a common practice to help landlord and property managers cover all the costs involved in comprehensive pet management.
Pet management platforms can help to define and collect upfront or recurring pet charges, giving you access to additional funds to help you manage your pet program.
Charge Fees for Unauthorized Pets
Many leases and pet policies now define unauthorized pets and what penalties are incurred if they are discovered. Sometimes, tenants will house unauthorized animal temporarily or bring prohibited animals onto the property in violation of the agreements they signed. Unauthorized animals can present health and safety concerns, and, typically, fees will be assessed for these types of violations in order to discourage such behavior.
Pet management platforms can help you to charge and easily collect fees for authorized animals according to parameters you specify.
Crack Down on Fraudulent ESAs
With the surge in popularity of emotional support animals (ESAs) in recent years, landlords and property owners have reported a corresponding increase in unfavorable behavior on the part of tenants. Residential pet owners can often find crafty ways to skirt around policies or stretch the rules of leases and pet agreements in order to avoid fees or bring more animals into their homes.
One such tactic is classifying an animal as an ESA, which thereby allows the tenant to avoid any associated charges with housing the pet under HUD guidelines. But, how do you know if the ESA letter that the tenant presented is legitimate?
Pet management platforms include ESA verification, allowing you to confirm whether a pet is indeed an assistance animal or not. If found to be fraudulent, the tenant would then be liable for paying fees and pet rent.
Calculate your OurPetPolicy ROI
Still wondering whether a pet management platform is worth the investment? OurPetPolicy publishes an ROI calculator that details the exact amount of cost savings you can expect when you choose to use the OurPetPolicy platform.
Try the calculator and see for yourself. With just a few inputs, such as the number of units you have, what you charge in pet rent, and how much time your team spends answering questions related to pet policies, you’ll be able to easily determine how a pet management platform can yield positive returns.
Even if you don’t charge pet rent and have no plans to do so, using OurPetPolicy will still provide a positive return based solely on the time and hassle it will save you in managing pets on your property.
