Pet-friendly rentals attract new tenants faster.
That’s according to the online real estate marketplace Zillow, which determined rentals that allow pets are typically leased eight days sooner than those that don’t. The finding is based on a new analysis of more than 11 million rental listings on Zillow.com last year.
Here’s why pet-friendly policies are seen as speeding up renting properties:
- Just under 60% of renters now have pets, up from 46% in 2019.
- That’s nearly a match for the 57% of listings that allow pets.
- There’s more engagement for pet-friendly listings, an average of 9% more views, 12% more saves and 11% more shares.
- Renters are seen as having more leverage due to what’s currently a less competitive market.
The Salt Lake City metropolitan area only partly lines up with the national numbers.
Although slightly more rental listings are pet-friendly in the area in and around Utah’s capital city, 58% compared to 57% nationwide, “these rentals find a tenant three days slower than listings that don’t allow pets,” a Zillow spokesman told the Deseret News…