Fetching an Edge with Pet-Friendly Apartment Amenities

Apartments.com It's a Dog-Eat-Dog World: Fetching an Edge with Pet-Friendly Apartment Amenities 1 Characteristics of Renters with Pets 68% of all U.S. households own a pet* Types of Pets Owned**: 71% 4% 35% Dogs Cats Other Pet-friendly Searches on Apartments.com** 26% 74% Cat-friendly Dog-friendly Cities with Highest Pet-Friendly Search Volume on Apartments.com Eugene, OR Rockford, IL Youngstown, OH Albany, GA Lafayette, LA Leverage Your Pet Policy as a Marketing Tool Renters Say That... 59% 33% reviewing pet policies online was important to apartment search* pet policy influenced decision to visit community* Pet Policy Best Practices • Screen resident and pet; assess pet's temperament and review vet records. • Add fees. Charge recurring fee, increase monthly rent, adjust security deposit and/or require separate pet deposit. Document rules and conditions including list of approved animals, vaccinations, noise and damages. 3 How to Be 'Top Dog' with Pet-Friendly Add-ons Trending Pet Amenities and Estimated Monthly Cost* Community Dog Park $28.65/mo. 45% Community Pet-Washing Station $26.48/mo. 37% Pet Daycare Service $33.24/mo. 33% Dog Treats in Lobby $21.70/mo. 29% Pet Walking Service $30.57/mo. 27% Additional Ways to Add Value for Pet-Loving Renters "Yappy Hour" pet play-sessions Pet waste Cat perches stations Group pet insurance buy-in option Rooftop dog parks 4 Benefits and Considerations for Pet-Friendly Apartment Communities Benefits For Consideration • Larger pool of potential residents • Increase resident retention – due to higher rental satisfaction • Property damage or additional wear and tear • Possible insurance implications • Additional income from higher rent, pet fees or add-on services • Potential for noise problems and complaints • Renters expected to pay extra each month for pet-related amenities and services 59% of residents indicated they were less likely to choose a pet-friendly community because of pet-related noise* Apartments.com Source: *American Pet Products Association, **2017 NMHC/Kingsley Renter Preferences Report, *** Google Analytics www.apartments.com/advertise/resources/articles/pet-friendly-apartment-amenities