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Pets: Rent v. Buy

By Kimberly Shane

Pets rent vs buy blog-01Did you know that 68% of US households have a pet? However, only 55% of landlords, according to Avail, allow pets. This can drastically decrease the number of rentals available to pet owners. Think about it, you are searching for a rental property and in the search criteria, you indicate you have a pet. This cuts your search options in half, then you find out many of those are unavailable because other renters with pets are desperate for a rental property as well.

There are a variety of reasons why landlords do not allow pets to live in their rentals; mostly, they don’t feel that it is worth the possible risks. Many have had a pet damage their property with scratches, chewed wood, or destroyed landscaping. I would be remiss not to mention their concern for the other tenants and how they will respond to a neighbor who has a pet; these concerns range from disruptive noises like barking to allergens moving through the air conditioning duct to protective dogs who may bite other tenants.

On the other hand, when you are considering homeownership, the only restrictions placed on families with pets are those in place by local laws or ordinances. If you can afford rent, you can likely afford a mortgage payment and you don’t have the struggle of trying to find a property that works for you and allows your furry friend! To learn more about what is involved with home ownership, click here!

I Want to Hear from a Mortgage Banker

Tags: Rent, Renting, Buying, homebuyer, pets, House Buying