Whenever clients look for a condo, apartment or house, savvy real estate professionals ask a few questions. One of the questions is whether pets are a part of the family. Nowadays, homeowners have different types of pets including cats, fish, small mammals, birds, dogs, and even reptiles. However, some property owners do not like renting out to people who have pets. On the other hand, some are trying to make their homes a palace for their pets!
According to a recent study, pet owners spend a considerable amount of money trying to keep their pets happy. For instance, in 2015, American pet owners spent about $61 billion on furnishings, food, toys & other pet goods. Although pet owners go over and beyond, some home improvements depend on several factors like labor costs, size of the room and level of finish. Nevertheless, since pets offer countless benefits, most animal lovers cannot put a price tag on their choices especially if they affect the happiness of their beloved pets.
As tenant competition soars in many cities, developers and managers of apartments and condos have decided to factor pet owners because it pays off. As a result, there are certain measures that they’ve reduced or eliminated. For instance:
- Pets’ restriction
- Lowering or eliminating additional fees for pet owners
- Pet size and number elimination
With these measures in place, animal lovers can rent an apartment regardless of the size of the pet or the number of pets he/she has. This was not easy in the past because property owners were very sentimental about pets.
To attract tenants real estate developers and managers have devised other tack ticks. For instance, Related (a real estate company in NY) has always had a pet-friendly policy since 1986. They offer wax and booties to dogs during the winter season! After some time, Related established a Dog City Location where they provide pet care services to pet owners who are worried/concerned about the wellbeing of their pets’ when they are away from home. Some of the baseline services offered at Dog City Location include access to special areas to play, nail clipping and cleanup space. The client is only required to pay an annual fee of $250. The facility also offers additional services like puppy nannies, socialization services, spa services, walks and veterinary care on a different package to willing clients.
As the multifamily segment was covered on news and social media, homebuilders and designers started prioritizing pets. Homeowners and potential homebuyers started getting inspirations from Pinterest and Houzz. As a result, pet features started being included in single houses. To determine the type, size, and other features to include, designers and homebuilders had to ask a few questions. For example, the type of pets, number, and size the homeowner wishes to have in the future. Some of the added features include toy storage, cabinetry that has built-in food bowls and water, bed and wall hooks for leashes & collars. Sometimes, home designers include a ‘doggie door’ that offers access to the yard and a window that’s placed strategically for the pets to see the outside. It seems like homeowners are willing to make their homes a palace for their pets.