Pet Damage Protection Program
At no cost to the Owner, the Pet Damage Protection Program (PDPP) covers you up to $3,000 of damage caused by an approved pet.
67% of U.S. households own a pet according to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association. The number of households has steadily increased year over year.
Umano Property Management has created a solution to protect you and your property from pet damage because animals are here to stay. Umano is one of the only property management companies in Washington that is committed to protecting your property against pet damage!
Why you should allow pets?
While it might give you heartburn, there are many real estate investors, like you, who are successfully renting out their properties to tenants with pets without much fuss or struggle. Here are some benefits that come with opening up to furry friends -- and their owners.
Benefit 1: Great Potential for Higher Rental Income and Returns
A 2011 study of the condominium market in the Journal of Real Estate Finance and Economics found that landlords who placed no restrictions on pet ownership were able to enjoy an 11.6 percent rental premium over landlords who did not allow pets. On average in Seattle, Umano sees pet-friendly properties renting for $50 to $100 more per month.
Benefit 2: Longer Tenancies
Landlords who allow pets often enjoy average longer tenancies from their renters. Tenants with pets were found to stay longer than tenants without pets by an average of 46 months, according to a 2005 Firepaw study. This is despite a higher rent being collected for the property and proves that people will be more loyal, stay longer, and pay on time when their pets are accommodated. In conclusion, a tenant who wants a pet will get one, even if that means they need to move.
Benefit 3: Larger Tenant Pool
The same study also found that the vacancy rate for pet-friendly housing was significantly lower than “no pets allowed” rentals. Umano's research shows owners also rented their properties faster, spending less than half the usual amount of time marketing pet-friendly accommodations. Pet-friendly housing receives 2X as many applications.
How does this Program work?
Umano thoroughly screens every pet that tenants want to get approved. Umano partnered with a third-party pet screening company that specializes in screening and ranking the risk of pets. When a pet is approved, the tenant pays Pet Administrative Fees, Pet Deposits, and/or monthly Pet Fees each month to Umano Property Management.
Beginning January 1, 2021, Umano retains the pet fees and uses them to cover our costs of administering the program and making repairs to your property if an approved pet causes damage. For example, if an approved pet in your property causes damage to the carpet and $1,500 of carpet needs replaced, Umano replaces the carpet at no cost to you!
This program covers up to $3,000 in damage above the tenant's deposit!
The program does not cover emotional support animals, companion animals, service animals or unapproved pets that the tenant concealed from us. However, we will try to recover the pet admin fees that the tenant was required to pay, and if recovered, we would then be able to cover the damage.
The program does not cover emotional support animals, companion animals, service animals or unapproved pets that the tenant concealed from us. However, we will try to recover the pet admin fees that the tenant was required to pay, and if recovered, we would then be able to cover the damage.
GENERAL RULES (Unless otherwise restricted by Owner, HOA or City):One (1) Pet allowed in stacked condos, or any multi-unit that does not have access to a yard. Up to two (2) Pets allowed in single family homes or townhomes with yard access. Dogs and cats must be at least 1 year old so no puppies or kittens. Pets must be spayed and neutered and if applicable, they should also be licensed.
Risks of Renting to Tenants With Pets
We’d be misleading you if we said that renting to pet-owners is all fun and games (or fetch and play)! There are several considerations to take into account before opening up your space to that Daschund with the sweet eyes–but very sharp teeth.
Property Damage - It’s clear that dogs, cats, and other pets can cause damage such as scratching the doors, chewing the floors, and having accidents on the carpet. These are just a few of the exploits that unattended and improperly trained pets can have. There are costs associated with the cleanup and repairs to be factored in when making the decision to allow destructive pets into a rental home.
This is why Umano will cover up to an additional $3000 when pets cause damage above the security deposit amount. On average our security deposit is $1500. So on average, you have $4500 worth of damage covered by Umano. If the deposits and $3000 are exhausted, Umano will pursue the tenant and file collections.
Increased Liability or Physical Injury - Increased liability is another concern for many of our Umano clients. It’s worth noting, however, that most states have strict liability statutes which hold dog owners, not landlords, responsible for the behavior of their dogs. You do have the responsibility to report a dog that is dangerous and may be responsible for anything that should occur if the dog is under your care and an incident should happen.
Increased Insurance Costs - Pet-friendly landlords can face higher insurance costs. For example, the Firepaw study noted that pet-friendly landlords reported an average annual insurance premium of $150 more. Consider checking with your insurance provider to see if becoming pet-friendly will affect your rates, but keep in mind that these expenses can easily be recovered in higher rent premiums and reduced vacancy costs.
Potential Complaints From Neighbors - Another concern that landlords have is complaints about noise–even though noise complaints may be less common than you think. According to Firepaw, only about one-third of landlords have ever had noise problems. Modern buildings are quite soundproof and many animals eventually settle down after a short bout of barking or meowing.
Why is Umano offering a Pet Damage Protection Program?
On January 17th, 2017, the City of Seattle imposed caps on move -in fees, including caps on pet deposits. This cap is currently limited to 25% of one months rent which in many cases is not enough to cover damages caused by tenant’s animals. In addition, there was a push to prohibit pet rent altogether, and other fees associated with pets. While that did not pass, it became clear that the City of Seattle intends to keep pushing for limitations on pet fees, and what landlords can charge tenants. Umano developed this program to help combat these limitations, as other cities have been known to follow Seattle’s lead. Some of the other benefits include:
· Higher Occupancy Rates / Reduced Vacancy
· Keep Tenants Longer. Longer-Term Tenants Who Renew
· More applications since as high as 67% of all tenants have pets
· Avoid Fair Housing Violations & Discrimination Suits
· Less Worry and Headache
· More security / Peace of Mind
By allowing Umano Property Management to manage your home approve a pet, are automatically enrolled in Umano’s Pet Damage Protection Plan at no cost to the Owner. If Umano approves a pet that causes damage to the premises, Umano will cover pet-caused damage up to $3,000.00 (Three Thousand Dollars) in the case that cost of the pet damage is in excess of the tenant’s security deposit held by Umano.