Thought Leadership

Welcoming Pets Is a Smart Financial Move In Rental Housing

by Judy Bellack

According to the American Pet Products Association, 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 from a cute and cuddly addition to the household to a treasured member of the family who is an integral part of our emotional well-being.

It’s a happy coincidence that multifamily communities can embrace this reality while also boosting their bottom lines significantly. The 2021 Pet-Inclusive Housing Report, which was conducted by Michelson Found Animals and the Human Animal Bond Research Institute, reveals the powerful financial and operational benefits operators can experience by making their communities as pet-inclusive as possible.

Read Judy Bellack’s article in the Rental Housing Journal.

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