The Pawsitive Benefits of Offering Pet Perks for Residents
The number of pet owners in the US has been on the rise over the past few decades. According to Forbes, a staggering 66% of US households (86.9 million homes) own a pet. Dogs are the most popular pets, followed by cats and freshwater fish. Millennials make up the largest percentage of current pet owners, showing that pets are an integral part of many people’s lives.
At REEP, we understand the love and bond between pet owners and their furry companions. That’s why we go above and beyond to welcome pets into our apartment homes. We’ve noticed a significant shift with more apartment owners embracing pet ownership and considering pets as part of the family. In fact, according to an apartments.com survey, nearly 90% of renters said they have a pet, and many non-pet owners plan to become pet owners within the next year.
To cater to this growing demand, forward-thinking apartment owners like our in-house management company, REEP Residential, are offering pet perks to attract and retain residents while creating vibrant communities for both humans and their beloved pets.
Here are some of the ways we make our pet owners and their pets feel right at home:
- Pet-Friendly Policies: We prioritize creating a pet-friendly environment and believe that pets contribute to the happiness and well-being of our residents. Our policies promote responsible pet ownership and ensure a sense of community that extends to our four-legged friends.
- Great Amenities for Four-Legged Friends: We understand the importance of providing dedicated spaces for pets to socialize and exercise. That’s why our operations team makes it a priority to create pet parks that go beyond a simple chain link fence. We build wooden framed hog-wire fences, combining carpentry skills and creativity to create a safe and enjoyable space for pets.
- Pet-Oriented Events: We love bringing our community together, including their furry friends. We organize pet-oriented events such as Yappy Hours, Puppy Playdates, and even pet costume contests on special occasions like Halloween. These events allow pet owners to socialize with like-minded neighbors and create lasting connections.
- Pet Service Recommendations: Our friendly staff is familiar with the local area and can provide recommendations for veterinary services, pet sitting, or dog walking. We aim to make life easier for our pet owners by connecting them with trusted service providers in the community.
By focusing on pets, we bring value to both our residents and investors. Our pet perks create a sense of belonging for our residents and help foster a strong and connected community. At the same time, we understand that providing these amenities and services also positively impacts the property’s appeal and value.
Here are a few benefits to our forward-thinking strategy:
1. Increased Attraction and Tenant Retention: By providing pet perks, apartment owners can attract a wider range of potential residents who prioritize their pets’ well-being. Offering pet-friendly amenities such as on-site dog parks, grooming stations, or pet-friendly social events can be a deciding factor for prospective tenants looking for a welcoming environment for themselves and their beloved pets. Moreover, once residents settle in and experience these perks firsthand, they are more likely to stay longer, reducing turnover rates and ensuring a stable community.
2. Enhanced Community Engagement: Pets have a remarkable ability to foster connections among people. By creating a pet-friendly atmosphere, apartment communities encourage residents to interact and socialize. Pet-focused events, such as “Yappy Hours” or “Puppy Playdates,” not only provide an opportunity for pets to bond but also facilitate networking and friendships among their owners. These activities cultivate a sense of belonging and community spirit, resulting in happier and more satisfied residents.
3. Improved Physical and Mental Well-being: Numerous studies have highlighted the positive impact that pets have on human health and well-being. Owning a pet has been linked to lower blood pressure, reduced stress levels, and increased physical activity. By offering pet perks, apartment owners promote a healthier lifestyle for their residents. On-site dog parks or walking trails encourage daily exercise, while pet-friendly policies ensure that residents can experience the emotional support and companionship that pets provide.
4. Differentiating Factor in a Competitive Market: The rental market is highly competitive, with many options available to prospective tenants. By providing pet perks, apartment owners can set themselves apart from the competition. This unique offering demonstrates an understanding of residents’ needs and showcases a commitment to their comfort and happiness. In an era where pets are considered family members, providing amenities tailored to their well-being can be a game-changer for apartment communities striving to stand out.
5.Positive Public Image and Brand Reputation: Apartment owners who prioritize pet-friendly policies and amenities earn a positive reputation within their community and beyond. Word-of-mouth recommendations from satisfied pet-owning residents can attract more like-minded tenants, creating a virtuous cycle. Additionally, a strong commitment to pet-friendly initiatives can generate positive media coverage and social media engagement, further enhancing the apartment complex’s brand image and visibility.
With the surge in pet ownership and the increasing popularity of apartment living, offering pet perks has become a strategic move for apartment owners. The benefits are manifold, ranging from attracting and retaining tenants to fostering a sense of community and improving overall resident well-being. As the demand for pet-friendly housing options continues to grow, apartment owners who embrace this trend will undoubtedly reap the rewards of a pawsitively successful investment, the way we have here at REEP.
To learn more about our investment opportunities, properties, and management philosophy, join our investor network.