Should You Allow Pets in Your Rental Property?

Megan Bullock/Apartments.com • May 2, 2021

It’s no secret that most pet owners treat their pets like family, so when it comes time to find a new home, these renters will be looking for pet-friendly rentals. This begs the question, should you allow pets in your rental property? If this question is weighing on your mind, you’re in the right place. It’s true that allowing pets in your rental gives you access to a larger pool of interested renters, but this decision also comes with a few risks. Before you decide where your rental fits in the mix, let’s weigh the benefits and risks of having a pet-friendly rental.

Benefits of Allowing Pets in You Rental Property

If you decide to list your rental online as “pet friendly,” you’ll enjoy several benefits, including the opportunity to:

Make more in rental fees

By allowing pets in your rental property, you are essentially adding another tenant (or a few, if you allow). Although this furry tenant won’t be responsible for splitting the rent, their presence will require some additional payments. Pet fees, pet deposits, and pet rent are a few of the ways you can make more in rental fees by allowing pets.

You will collect a non-refundable pet fee from your pet-owning tenant before or on move-in day. You can also collect a pet deposit at the same time in addition to the pet fee. The only difference is the pet deposit is refundable and will be returned to the tenant in full if there are no pet-related damages to the unit, including soiled carpet, chewed blinds, or scratches on the floor, walls, and moldings. Pet rent is a fee that renters will pay once a month in addition to their base rent.

Depending on your state laws, you can charge one of these rental fees, all three, or a mix. These rental fees will automatically boost your rental income, as well as provide a bit of cushion for potential damages. Be sure to check what competitors in your market are charging for pet fees so that you aren’t under or overselling your rental.

Increase your lease renewal rates

Not every rental allows pets, so if you choose to allow them, your tenants may be incentivized to renew their lease. Many renters will feel more comfortable in a pet-friendly rental, even if they haven’t committed to a furry friend of their own just yet. It gives them the option to do so in the future. If your rental is not pet friendly, and your tenant decides they want a pet, they will have to wait until their lease is up or potentially break their lease early, leaving you to find a new tenant once they’re gone. Avoid these potential vacancies by giving pet owners what they want — a good home for their fur family.

Expand your list of potential tenants

As discussed, not all rentals allow pets, which automatically limits those landlords to only renters without pets. If you choose not to allow pets in your rental, you risk losing some potentially great tenants simply because they are pet owners. Your list of potential tenants will expand immediately if you list your rental as pet friendly. As more and more renters become pet parents, your pool of potential tenants will continue to grow.

Risks of Allowing Pets in Your Rental Property

Allowing pets in your rental is a great way to show tenants your flexibility, but it’s important to consider the risks of doing so before you proceed.

Increased chances of property damage

It’s common for pet damage to occur in pet-friendly rentals, even if it only involves minor issues. Soiled carpet, scratched floors and walls, and chewed blinds are just a few examples of common pet damage. Accidents happen, especially with younger pets, but if your tenant isn’t a responsible pet owner, small issues may become bigger problems over time. If a pet is continuously left home alone or not properly taken care of, damage will likely occur.

Potential noise complaints

Pets left alone for several hours at a time, even during normal work or school hours, can be a problem. Incessant barking, howling, or meowing can lead to frustrated neighbors and subsequent noise complaints. In some situations, pet owners may be trying their best to deal with a pet’s separation anxiety, while others may be unaware of the problem. Noise complaints are never ideal, especially when it’s about lonely, bored, or anxious pets. Handling pet noise complaints can prove to be difficult because there is not always a solution to the problem. Pets’ behavior may improve over time, but that’s not always the case.

Abandoned pets

Even worse than a howling pet left home alone is an abandoned pet. By allowing pets in your rental, you run the risk of having a tenant who not only abandons their lease and your unit, but their pet as well. If the pet is left alone for a lengthy period of time, there could be severe damage to your property. Dealing with an abandoned pet and potential damage to your property can be upsetting for both you and the pet. If this happens in your rental and you cannot get in touch with your tenant, call your local animal rescue. This will at least allow the pet to have a second chance for a good home.

Additional Considerations for Allowing Pets in Your Rental

Although benefits and risks are important to think about, there are other pressing issues to consider as well before making your final decision.

Does your insurance company cover all pet breeds?

Not every landlord will have an insurance policy that covers all pets. In fact, many insurance companies have restrictions on what animals and breeds they allow in the policy. For instance, pit bulls and rottweilers are two common dog breeds that are excluded. Before you sign a lease with a pet owner, be sure your policy covers their pet.

How to legally handle service and emotional support animals

Tenants who have service animals or emotional support animals are protected by the American Disabilities Act (ADA). Because of this, landlords are required to allow these animals in their rental whether their unit is pet friendly or not. If your rental is pet friendly, be aware that tenants with a service or emotional support animal are not legally required to pay pet fees, pet deposits, or pet rent. Before your tenant (or their pet) moves in, they are legally obligated under the ADA and Fair Housing Laws to provide you with proper documentation that details their need for the animal.

How to screen tenants with pets

When screening a pet-owning potential tenant, the process will be very similar to screening a tenant without pets. Your tenant screening should include a background and credit check (conveniently provided by TransUnion® if your unit is listed on Apartments.com), as well as professional and landlord references, proof of income, etc. The only additional requirements for pet owners would be to answer a list of questions, such as:

How many pets do you have?
What type of pet(s) do you have?
What breed?
How much does the pet weigh?
Is your pet up to date on shots (specifically rabies)?

You also have the option to set up a pet interview with the potential tenant and their pup. By meeting their pet before move-in day, you can make sure they’re friendly and well behaved.

How to make your rental pet friendly

Allowing pets in your rental is the first step towards growing your pool of potential tenants, but a great way to retain your pet-owning tenants is to install a few pet-friendly amenities and features. Pet-friendly flooring (avoid carpet), a closed-in patio or a fenced-in yard, or a pet door that opens to a fenced-in outdoor space are great ways to make your rental more pet friendly.

The Choice Is Yours

Every property owner must make their own decision when it comes to allowing pets in their rental property. Keep in mind that although there are serious risks, such as property damage, noise complaints, and abandoned pets, more and more renters are becoming pet owners. If you don’t allow pets, your pool of renters will continue to shrink. A great compromise is to create a pet agreement that outlines your requirements, including:

Pet fees, pet deposits, and pet rent
Number of pets allowed per unit
Type, breed, and size of pet

In the agreement, you can also detail your expectations. For example, explain that tenants are required to pick up after pets outdoors, specify cleaning instructions to avoid any leftover pet dander, smell, or damage after your tenant moves out, and reiterate community quiet hours.

Although you are not required to allow pets in your rental property, you have a much better chance of finding a potentially great, long-term tenant in a timely manner if you are flexible with your rental policies and rent to tenants with pets.

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Home Price Growth Slowed Down. That May Be Changing

By KCM • August 27, 2026

Home Price Growth Slowed Down. That May Be Changing. After more than a year of headlines talking about how home prices are going to crash , the latest data shows that price growth may be starting to pick back up again. And depending on whether you’re buying or selling, that shift means something different for you. The Numbers May Be Starting To Turn For the past couple of years, home price growth has been moderating – cooling from around 7% in mid-2024, according to Redfin (see graph below). But look at the right side of that graph. The pace of that growth appears to have hit its low point and started to turn. While a couple months of data doesn’t necessarily mean this will be a lasting trend, there are some other signs that this could continue. For example, fewer markets are seeing prices decline. According to ResiClub and Zillow, about 36% of the 300 largest housing markets had falling prices as of the middle of last year. Since the start of this year, that share has been shrinking. Now? Only 23% are experiencing those mild dips (see graph below): When fewer markets see prices falling, that means more markets are seeing prices rise again. And forecasts suggest this shift has room to run. On average, experts project home prices will rise about 2.3% nationally this year. And for that to happen, price growth would have to pick up a bit in the second half of 2026. But Remember, Real Estate Is Local While it looks like national prices may be starting to pick back up a tiny bit, that doesn’t mean that’s what’s happening in your neighborhood. National home prices are really just an average of hundreds of local markets. Some are climbing faster. Others are still cooling. But one reason the national average may be looking up is because a growing number of metros may actually be net positive for prices this year. Not long ago, the major metros were split about 50/50 – half seeing prices rise and half seeing them fall. Now, that balance looks like it’s starting to tip in a more positive direction. Just last month, more than half of the major metros saw prices go up, according to Redfin (see graph below): As Selma Hepp, Chief Economist at Cotality, explains : “. . . local markets continue to tell very different stories. Annual home price growth has changed little since the start of the year, but some markets, especially those supported by strong job and income growth in the West and more affordable Midwest markets, have seen notable acceleration in price gains.” What This Means for You Home price headlines can be confusing because they don’t always tell the full picture. Lean on an agent to understand what’s happening in your local market and what the early signs say for where prices may go from here. That’s the best way to stay one step ahead of the market. If you're buying: slower price growth has worked in your favor. You've had more room to negotiate and a budget you could plan around. If price growth is picking up in your area, buying now may mean paying less than you would later this year. If you own a home: you've been gaining equity all along, even while growth moderated. If growth keeps picking up, those gains could speed up, too. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), projects the typical homeowner will gain roughly $16,000 in housing wealth this year. And if you're thinking about selling, this shift is a good early sign for you. Just remember, the market is still pretty balanced and buyer-friendly in a lot of areas right now. Home price growth slowed way down, and now it's showing early signs of picking back up. Whether you're buying or selling, let's connect so you can see exactly what prices are doing in our local market and what that means for your plans. Bottom Line Home price growth slowed way down, and now it's showing early signs of picking back up. Whether you're buying or selling, let's connect so you can see exactly what prices are doing in our local market and what that means for your plans.

Here’s Why Mortgage Rates Are What They Are Right Now

By KCM • August 25, 2026

Here’s Why Mortgage Rates Are What They Are Right Now If you're waiting for mortgage rates to fall a lot before you buy, you may be waiting a while. But before you get discouraged, there's a number working behind the scenes that's actually good for you right now. It's called the spread, and once you understand it, you may see today’s rates in a whole new light. The Pattern That’s Held for 50+ Years For starters, mortgage rates don't move on their own. They tend to follow the 10-year treasury yield, a number tied to how investors feel about the economy. It’s not an exact science, since plenty of other factors can move it day to day, but broadly speaking, when the economy looks strong, that yield tends to climb over time. When the outlook gets shaky, it tends to ease. For over 50 years, the 10-year treasury yield and mortgage rates have moved almost in lockstep (see graph below): The gap between them is called the “spread.” On average, that gap runs about 1.76 percentage points. And that spread impacts your mortgage rate. A wider spread tends to push mortgage rates higher than the treasury yield alone would suggest, while a narrower spread keeps rates closer to the treasury yield. One of the Big Reasons Rates Likely Won’t Drop Dramatically Anytime Soon If you’re hoping mortgage rates will drop a lot, here’s the reality – they probably won’t, at least not anytime soon. One of the big reasons why comes down to that spread between the 10-year treasury yield and mortgage rates. A few years ago, that gap got a lot wider as uncertainty in the economy pushed it as high as 3.19 points in 2023. Now here's the part worth noting – that gap has been narrowing lately. It’s down to about 2.01, just above the long-term average of 1.76 (see graph below): When the gap is wide, there’s more room for rates to fall. But when it’s relatively normal, like it is now, there’s less wiggle room for rates to fall. Why Mortgage Rates Aren’t Higher Right Now Today’s mortgage rate is basically the treasury yield plus the spread. So, when either one moves, your rate moves with it. Here are 3 different rates, all built off today's 10-year treasury yield of 4.68% to show you just how much the spread matters for your bottom line (see graph below): If the spread were still stretched out like it was in 2023, rates would be pushing close to 8% right now. That’s because the spread was over a full point wider than it is today. But now, thanks to the spread narrowing recently, today's rate sits around 6.69%. That’s the middle scenario in that visual. That's a big difference in your monthly payment compared what we could see if the spread was as big as it was 2023. As Logan Mohtashami, Lead Analyst at HousingWire, put it : “Of course, mortgage spreads being better in 2026 is the housing hero story of the year . . .” Now compare that middle bar to the 3rd one. If the spread were sitting at its exact long-term average, rates would be around 6.5%. That's only about a quarter of a point away from where rates actually are today. That means most of the improvement in mortgage rates we should realistically expect from a shrinking spread has already happened. In other words, the same narrowing spread that’s the reason rates aren’t close to 8% today is also a big reason why they’re not likely to fall a lot further. Bottom Line That’s the trade-off with a narrowing spread. Rates may not be where you want them, but they're better than they could've been. If you want help figuring out what that means for your monthly payment , reach out to a local lender

Buying a Home? Here's What You Should Know About Home Insurance Costs.

By KCM • August 24, 2026

Buying a Home? Here's What You Should Know About Home Insurance Costs. If buying a home is on your radar, you've probably been keeping an eye on mortgage rates and home prices . But don’t forget about homeowners insurance. Homeowners insurance has always been part of owning a home. But over the past few years, it's become a larger expense for many homeowners – something that's especially frustrating when affordability already feels tight. The good news? While premiums are still rising, the latest data shows those increases are beginning to slow. Here's what buyers should know. Home Insurance Costs Have Gone Up You've probably heard stories from friends or family about their premiums going up. And that’s not really a surprise when you consider data from the Pew Research Center shows 71% of homeowners say their insurance costs have gone up over the past few years. While no one likes rising costs, knowing what to expect can help you plan ahead. Your first insurance payment is typically included in your closing costs, but after that it'll become part of your monthly housing expenses. Getting an insurance quote early can help you build a more realistic budget and avoid surprises later. Premiums Are Rising, But Not as Fast as They Were Most of the headlines focus on how home insurance is getting more expensive. And that's true. But here’s the part that’s easy to miss. Insurance premiums are still rising. But they're not rising as fast as they were. According to the latest report from Rate Insurance, 2025 saw the first slowdown in annual premium increases since 2019 (see graph below): That doesn't mean premiums are getting cheaper. It simply means the rapid increases of the past several years may finally be starting to ease – a small but welcome step in the right direction. But what you’ll pay in one part of the country can look very different from what someone pays somewhere else. Where You Buy Can Make a Big Difference Insurance costs vary because some parts of the country experience more claims than others. That's why it's important to look at what's happening locally. Your premium will depend on things like where you're buying, the home itself, and the coverage you choose. Forbes data can give a rough idea of your state’s typical premiums. Check out the map below – the darker the blue, the higher the costs tend to be in that state: Ways To Lower Your Costs While you can't control every cost that comes with buying a home, you can control how prepared you are. If you’re crunching the numbers and trying to find ways to save, Insurify and NerdWallet offer these tips that can help you get the best insurance price possible: Shop Around – Compare quotes from multiple companies. Bundle Policies – Combine home and auto to see if a bundle price is cheaper. Ask If There Are Discounts – Don’t miss out on savings you may qualify for. Highlight Upgrades – Features like a new roof or storm windows can cut costs. Improve Your Credit – A stronger credit score can mean better premiums. One of the smartest things you can do is get an insurance quote before you make an offer. That way, you'll know what your monthly housing costs are likely to be before you commit. An insurance professional can walk you through your options and help you find coverage that fits both your needs and your budget. Bottom Line Homeowners insurance has become a bigger part of the homebuying conversation. But it doesn't have to become a bigger source of stress. The key is knowing what to expect before you buy. Get an insurance quote early, factor it into your budget, and lean on trusted local professionals to help you make the most informed decision possible.