News, Analysis and Perspective for Multifamily
The benefits of having pets on property are extensive, from happier residents and increased social opportunities to providing a generally more attractive place to live. Allowing pets can serve as a boost to the revenue stream as well. A responsible pet policy can have a helpful impact on…
According to a recent study by apartment operator Cortland, 82% of Gen Z apartment renters say having a dog influences the decisions they make related to housing. Many operators have responded by modifying their policies to become exceedingly pet-friendly, including easing restrictions.
Just as frustrating as their consequences is the fact that these bans are based on the myth that certain breeds are inherently dangerous. That’s right: When you take the time to investigate the matter, you’ll see that breed bans are built on a foundation of sand.
Pet ownership has skyrocketed during the past few decades, increasing from 56% to 70% of households from 1988 to 2022, according to the American Pet Products Association. Just as many renters have welcomed new pets into their households.
Increasingly, multifamily companies are discovering that embracing pet inclusivity by reducing or even eliminating breed and weight restrictions can be a powerful way to boost demand, sign new residents and retain current ones.