This article by Justin Chapman was originally published on FoundAnimals.org
Rental Housing Owners Can Attract and Retain More Residents by Adopting Pet-Inclusive Policies
The vast majority of pet-owning residents and property owners and managers agree that pets are important members of the family, but progress is still needed when it comes to extending that sentiment to pet-inclusive policies for rental housing, according to a new data-rich report from the Human Animal Bond Research Institute (HABRI) and Michelson Found Animals Foundation.
Owners and operators can reap significant financial benefits through better retention with updated pet-friendly regulations, especially as Millennials and Gen Z—most of whom will continue renting instead of buying a home—grow older. Millennials already comprise the majority of residents in the rental housing market, and 80% of Millennials and Gen Z own a pet. Progressive owners/operators are reevaluating their property’s pet policies to meet the evolving priorities of younger generations.
“Michelson Found Animals and HABRI developed this report to provide clear and detailed market-based strategies that benefit all—housing owners/operators, residents, and our beloved pets, who have been so important to us during the pandemic,” said Brett Yates, CEO of Michelson Found Animals (pictured). “We look forward to sharing this report to create more pet-inclusive housing for healthier, more connected communities.”
The recently published Pet Inclusive Housing Initiative (PIHI) report highlights data from a comprehensive survey of residents and property owners/operators, offering a roadmap for positive, forward-thinking, and mutually beneficial changes to pet rental policies that will increase the availability of pet-inclusive housing and benefit everyone—housing owners/operators, residents, and pets.
Learn more about this report here.