Landlords have different views on allowing pets in rental properties. On one hand, pets could cause property damage, be noisy or lead to more maintenance; on the other, allowing pets often attracts more potential tenants, reduce vacancy and potentially generate additional income.
Many property owners do allow pets, usually with a clear policy and understood risks.
How Many Renters Have Pets?
The tenant pool is one of the biggest considerations for allowing pets.
One of the biggest reasons landlords consider allowing pets is the size of the potential tenant pool. According to the 2025 National Pet Owners Survey by the American Pet Products Association, about 71% of all U.S. households own a pet; this encompasses about 95 million households entirely, with over 70 million dogs and 50 million cats. The statistics point to allowing pets more often than not.
Hypothetically, if a Richmond rental doesn’t accommodate pets, that policy could eliminate a majority of qualified applicants. Pet-friendly rules do not guarantee faster leasing, but can mean there will be more prospective renters – and give those leasers a leg up.
The Financial Benefits of Allowing Pets
Allowing pets can provide landlords with several potential financial benefits. First, the aforementioned larger pool of prospective tenants mean units could be leased quicker and be more attractive to renters than those that don’t allow pets. Vacancies also depend on location, the market and other factors, but pets are a perk for those looking for a home for them and their furry, feathered or scaly friends.
Some landlords also charge pet rent for approved animals. A Richmond landlord could charge for a monthly pet fee, which adds up to additional annual income to help with any extra maintenance or wear and tear that come with allowing pets.
3. Potentially Lower Vacancy Costs
Vacancy is an expensive issue when a unit sits empty for weeks or months on end. Property management companies can help with getting vacant units leased quicker, but so can pet policies. If a unit is $2,000 a month, those couple thousand dollars go out the window if someone has a no-pets policy and drives away interested parties. Allowing pets often means the financial benefit outweighs the potential cost.
What Are the Risks of Allowing Pets?
Landlords should understand the potential costs before deciding to welcome animals into their properties.
Pets can cause property damage that exceeds normal wear and tear; for example, cats and dogs can scratch up hardwood or vinyl flooring, stain the carpets, chew on trim, dig up yards or bring in fleas. Some repairs can be inexpensive, while others can be costly. Replacing floors could cost hundreds or thousands of dollars.
Some animals are noisy, such as dogs that bark excessively, and this can cause disturbances in apartment complexes or neighborhoods. Landlords can establish rules around noise and waste removal in a written policy.
However, the important distinction is that not every rental with pets will experience damage or other inconveniences. Many tenants are both responsible pet owners and responsible renters; looking after both their pets and their unit means very little may go wrong.
Should Landlords Charge Pet Rent or a Pet Deposit?
This is one of the most common questions landlords face when deciding whether to allow animals. Pet rent and deposits serve different purposes, and the rules governing them matter.
Pet rent is a monthly charge associated with an approved pet. This metric depends on the market and general rates.
For pet deposits, Virginia law dictates that a landlord can’t require a deposit more than two months’ rent. Pet deposits, even if separate, may still be subject to security deposit rules.
Assistance Animals
Under applicable fair-housing laws, qualifying assistance animals are not considered pets. Landlords generally cannot charge pet rent or pet deposits for an assistance animal when it is required as a reasonable accommodation under the law.
A standard no-pets policy, pet-size restriction, or breed restriction also cannot automatically be applied to deny a qualifying assistance animal. Requests should be evaluated under the applicable reasonable-accommodation rules.
Understand Virginia's Landlord-Tenant Laws
Landlords in Richmond and throughout Virginia should ensure their pet policies comply with both state and federal requirements.
Fair housing prohibits discrimination based on protected characteristics, such as assistance animals. If a lease prohibits unauthorized pets, landlords should follow the lease and legal procedures instead of taking matters into their own hands. Other homeowners associations and governing entities may have additional guidelines, so landlords should check those rules before making a decision.
How Should Landlords Screen Tenants With Pets?
Consistent screening processes help reduce risk. Landlords can start by evaluating applicants using the general criteria for income, rental history and other qualifications, followed by applying the written pet policy to animals covered by that policy.
Considerations include the number of animals allowed, animal behavior, vaccinations and licensing, waste removal and what responsibility falls on the tenant.
Don't Forget Insurance
Before allowing pets, review your landlord insurance policy and contact your insurance provider. Some policies contain exclusions or restrictions involving certain animals, and coverage varies by insurer and policy. Landlords should understand their liability coverage and determine whether their intended pet policy affects it.
How Can Landlords Protect Their Properties?
If you decide to allow pets, a few straightforward precautions can help reduce risk. Document the property’s condition before the new tenant moves in with dated photographs and detailed inspections. A written pet addendum helps spell out all the guidelines, while maintenance records help document things. Durable materials help make things easier to clean and maintain.
Should Every Landlord Allow Pets?
Not necessarily. The right decision depends on the property, the rental market, the landlord's financial goals, and the applicable legal requirements.
For example, a single-family home with a fenced yard may be well suited to pet owners. A condominium with strict association rules may have fewer options. A recently renovated property with expensive flooring may require a different risk assessment from a rental with durable finishes.
Landlords should weigh the potential benefits of a larger tenant pool and additional rental income against the costs of maintenance, insurance, and possible damage.
The Bottom Line for Richmond Landlords
Should a landlord allow pets? For many rental property owners, a carefully managed pet-friendly policy is worth considering.
The potential benefits include more prospective tenants, a broader marketing audience, and possible additional rental income. The risks include property damage, noise complaints, maintenance expenses, and insurance considerations.
The best approach is to establish clear written policies, screen tenants consistently, understand Virginia's security-deposit and fair-housing requirements, and document the property's condition.
For Richmond landlords who want to protect their investments without turning every maintenance request into a new challenge, professional property management can also help coordinate tenant screening, lease administration, inspections, and maintenance.
Wondering what we can offer here at Peak Property Management? Our experienced team is dedicated to elevating the rental experience for both clients and residents. Call us today to help with any and all maintenance or tenant issues, leasing or screening questions, or to get your properties rented. We serve the cities of Richmond and Petersburg, as well as the counties of Hanover, Henrico and Chesterfield.
