Recent surveys and multifamily data indicate that the number of U.S. households with pets is now more than double the number of homes with children. An estimated 84.6 million households have one or more pets. By contrast, only 35 million households are home to children in the U.S. This represents a significant change in the focus of apartment residents and a sharp increase in pets vs. children across the country. Taking this shift into account will help you to provide the most appealing options for your tenants.
Pampering Pet Parents
It is important to find ways to attract the growing pet owners to your apartments and other rental properties. This can expand the range of potential tenants and the ability to retain them as residents in your buildings. The latest apartment data research indicates that pet-friendly policies and amenities are essential to the 68 percent of U.S. households that own pets. Some of the most important amenities to consider include the following:
- Fenced-in green spaces can provide a convenient place for pet owners to meet and greet. Providing trash cans and supplies for cleaning up dog messes can promote the most responsible use of these areas. Installation of agility equipment can allow your tenants and their pets to exercise together in these pet-friendly parks.
- Establishing reasonable pet deposits that take into consideration the type of pet and the likelihood of damage will help you to attract the best tenants. Checking the latest multifamily data on pet deposits and policies will help your management company maintain a competitive stance in the industry.
- Creating special events just for pet owners will often create positive buzz about your rental properties. This can translate into greater visibility and increased interest in your apartments and available living spaces.
Going the extra mile to make pet owners feel welcome will typically pay off in increased loyalty and improved occupancy rates for your rental properties. This can boost your profitability in the multifamily property marketplace.
Accommodating Other Tenants
Not all of your tenants will have pets. Establishing rules about spaces that are pet-free can allow harmonious coexistence for all tenants in your rental properties.
At ApartmentData.com, we specialize in providing accurate and actionable multifamily data to influence your decisions about price points, amenities and other options. This information could affect your ability to attract and retain tenants. Our team works diligently to provide the most accurate leasing agent data for our clients. To learn more about our services or to request a demonstration of our system, call us today at 1-800-595-8730. We look forward to the chance to serve you.