With 63% percent of American households containing pets, it is no surprise that over half of America’s rental population is comprised of pet owners. In fact, rental property owners who allow pets can expect as much as $1,000 annually in additional rental income. The vacancy rate for pet-friendly properties is only 10% versus the typical 14% for “no-pets” properties and rents out in half the time with twice as many applicants. It is clearly advantageous for rental property owners to make allowances for pets.
In addition, The Fair Housing Amendments Act requires all landlords to make allowances for emotional support animals if the applicant/tenant can produce legitimate supporting documentation from an appropriate valid source. While landlords cannot charge additional fees for verified emotional support animals or service animals, a lease can stipulate the tenant be held responsible for any damages. Unfortunately, there is a very high level of fraud associated with tenants claiming their pets are service animals or emotional support animals. Our process greatly reduces the likelihood of a fraudulent claim.
IPS uses an innovative approach to securing responsible pet owners for our pet friendly homes. IPS works closely with a reputable third-party company in order to properly screen pets and validate service animals. This thorough process utilizes a scoring system based on information gleaned from a specific pet’s profile. Factors such as breed, weight, vaccination records and noteworthy behaviors are taken into account as well as photo documentation of the pet, thus protecting both tenant and landlord. Measures are also taken to ensure the legitimacy of emotional support animals by contacting medical offices for verification. This simple, yet unique, process standardizes basic accountability for pet-owning tenants in accordance with IPS policies as well state and federal laws.
In addition, IPS goes the extra mile with their Gold and Platinum Management Plans by including a Pet Guarantee. In the event that a tenant’s pet causes damage in financial excess of the amount of the security deposit, IPS will pay up to $1,000 in order to repair the damage.