Report: Pet Friendly Rentals Get Leased Faster

Rental housing property managers can sign new tenants with greater speed by being pet friendly, according to a new data report by Zillow (NASDAQ: Z, ZG).

Nearly six in 10 of today’s renters have a pet, up from 46% before the pandemic, and nearly half said they passed on properties because they would not accommodate their pets. More than half (57%) of last year’s listings on Zillow Rentals allowed pets, and on average those listings earned 9% more views, 12% more saves and 11% more shares than those that did not allow pets. They were also typically rented out eight days faster.

Among the states, Texas was the most pet-friendly state, with Austin (80%), Dallas (79%) and San Antonio (78%) leading all major metro areas in the share of pet-friendly rental listings on Zillow last year. However, not every rental housing property in Texas is that welcoming – Houston had the smallest share of rental listings that allowed pets, at just 38%.

As for the speed in leasing, pet-friendly rentals in the New York City metro area typically rented 26 days faster than units that did not accept pets, the biggest gap of any major market. Tampa (16 days), Columbus (12 days), Phoenix (11 days), Cincinnati (10 days) and Austin (10 days) also saw pet-friendly listings rented out at least 10 days faster.

“Allowing pets can be a strategic edge for landlords competing to fill units,” said Emily McDonald, Zillow rental trends expert. “Today’s renters are more established and more likely to have a pet, and we clearly see that pet-friendly rentals attract more interest on Zillow. In a market where renters have more options, allowing pets can make the difference in finding a tenant quickly.”