by John Bradford
Many properties have the best intentions. They aim to properly track their on-site pet population, and think they are accurately doing so—until a pet audit reveals how many pets are actually unaccounted for.
According to the Pet-Inclusive Housing Initiative, the rental housing industry loses approximately $4 billion in annual pet revenue due to undisclosed pets. One in three residents has at least one undocumented pet.
The best way to avoid this scenario is to have a system in place that ensures resident compliance with a community’s pet policies. Whether a new resident has no pet, a household pet, or an assistance animal, it’s vital that rental communities make renters formally acknowledge that they will adhere to the property’s pet policies throughout their entire lease. This establishes to residents the importance of compliance and also protects properties from a liability standpoint. Properties should also have systems for monitoring resident compliance and tracking their on-site pet and animal populations.
Read John Bradford’s article in the Multifamily Executive.