National rental data shows that landlords should allow pets, and here’s why. Plus, our Pet Damage Guarantee helps keep you protected.
Why Allowing Pets Often Leads to Better Rental Outcomes
For many rental property owners, allowing pets can feel like an unnecessary risk. Concerns about damage, liability, and long-term wear are understandable. However, current rental market data tells a different story — pet-friendly rentals consistently outperform pet-restricted ones, both nationally and here in the Memphis rental market.
In competitive markets like Memphis, where renters have choices and inventory fluctuates, allowing pets has become less of a perk and more of a strategic advantage.
Pet Ownership Is the Rule, Not the Exception
Pet ownership in the U.S. continues to rise, and rental demand is following it.
According to 2025 data cited by RentCafe and the American Pet Products Association:
- 94 million U.S. households own at least one pet, up from 82 million in 2023
- 51% of households are dog owners
- 37% are cat owners
- 12% own other types of pets
When a rental property does not allow pets, it isn’t just setting a preference — it is excluding nearly half of the renter market before pricing, location, or condition are even considered.
This is especially relevant for Memphis rental properties, where a large share of long-term renters own dogs or cats and actively filter listings by pet-friendly criteria.
Allowing Pets Directly Impacts Days on Market
Leasing data consistently shows that pet policies affect how fast a property rents.
According to ShowMojo leasing performance data (2025):
- Listings that do not allow dogs or cats see up to ~15% fewer completed showings
- Conversion rates are approximately 8% lower
- Properties remain on the market longer than comparable pet-friendly listings
Breaking it down further:
Cat-Friendly Listings (Compared to No Cats)
- ~3–4% fewer days on market
- 13% more leads
- 15% more completed showings
Dog-Friendly Listings (Compared to No Dogs)
- ~7–9% fewer days on market
- 13% more leads
- 10% more completed showings
In practical terms, for Memphis property owners, fewer days on market means:
- Less vacancy loss
- Fewer price reductions
- More consistent rental income
Even a small reduction in days on market can outweigh the perceived risks of allowing pets.
So Should Memphis Landlords Allow Pets?
The takeaway is simple: allowing pets opens the top of the leasing funnel.
Pet-friendly rentals in Memphis tend to:
- Receive more online inquiries
- Generate more showings
- Convert faster from listing to lease
- Perform better during slower leasing cycles
Vacancy remains one of the most expensive risks in rental ownership. In many cases, the cost of an extra few weeks vacant far exceeds the cost of addressing occasional pet-related wear.
How Our Pet Damage Guarantee Protects Owners
Most owner hesitation around pets comes down to one concern: property damage. That’s why we pair pet-friendly leasing strategies with our Pet Damage Guarantee.
To help offset pet-related risk, 901 Real Estate Services provides a Pet Damage Guarantee of up to $1,500, in addition to the tenant’s security deposit.
Here’s how it works:
- The guarantee applies only to pet-related damage beyond the standard security deposit
- Coverage is provided up to $1,500 per lease
- Repairs must be completed using Broker-approved vendors
- The property must remain under 901 Real Estate Services’ management at the time repairs are performed
- Determination of what qualifies as pet-related damage is made by the Broker
- All applicable pet fees and pet rent are collected and retained by the Broker
This approach allows Memphis rental owners to benefit from stronger leasing performance while limiting financial exposure if pet-related damage occurs.
(It’s important to note that assistance animals, are not considered pets by law and aren’t eligible for the Pet Damage Guarantee.)
Performance Over Preference
The data is consistent across national research and local leasing performance:
- Pet ownership is widespread and growing
- Pet-friendly rentals attract more qualified renters
- Those rentals lease faster and stay occupied longer
Allowing pets isn’t about lowering standards — it’s about aligning your property with how people actually live today.
With proper screening, clear policies, and protections like our Pet Damage Guarantee, pet-friendly rentals are not a liability — they’re a performance strategy, especially in the Memphis rental market.
Frequently Asked Questions About Allowing Pets in Rental Properties
Should landlords allow pets?
Yes, in most cases. National rental data shows that pet-friendly rentals attract more qualified renters, lease faster, and experience longer tenancies when proper screening and policies are in place.
Do pet-friendly rentals really lease faster?
Yes. Leasing performance data shows that pet-friendly listings receive more leads, more completed showings, and fewer days on market compared to pet-restricted rentals.
Do pets cause more damage in rental homes?
Not necessarily. Most significant rental damage is caused by people, not pets. With screening, inspections, and clear lease enforcement, pet-related damage is typically predictable and manageable.
How does your Pet Damage Guarantee work?
901 Real Estate Services provides a Pet Damage Guarantee of up to $1,500 beyond the security deposit for qualifying pet-related damage, provided the property remains under management and repairs are completed using approved vendors.
Are emotional support or service animals considered pets?
No. Assistance animals, as defined by applicable law, are not considered pets, are not subject to pet fees or pet rent, and are not eligible for coverage under the Pet Damage Guarantee.
Is allowing pets a good idea in the Memphis rental market?
Yes. In Memphis, a large share of renters own pets and actively filter listings by pet-friendly criteria. Allowing pets often results in faster leasing and stronger long-term performance.