There’s been a significant uptick in recent years of ESA accommodation requests. Verifying these requests can be a challenging and time-consuming process. As owners and operators consider ways to reduce ESA fraud, they should consider the impact that adjusting pet policies and fees could have.
While most rental housing operators do allow some pets, there is clearly a significant disconnect between operators and pet-owning renters. There are very simple reasons for this disconnect: abundant breed restrictions, significant size and pets-per-unit restrictions, and ever-increasing pet fees.
Lifting breed and weight restrictions for our four-legged friends and generally becoming more pet-inclusive can create significant financial gain for multifamily communities, such as increased NOI and higher resident-retention rates.
70 percent of American households own a pet, and pet owners in the United States spent more than $100 billion on their animals in 2020. The popularity of pets and the amount of money we are willing to invest in them indicates that the traditional definition of a pet has changed dramatically.
Apartment residents, like people everywhere, are absolutely crazy about their pets. Although it may sound cliché, renters feel like their dogs and cats truly are members of their families. The bond between owner and pet is unmistakable.