could declining values in a no pet building be turned around by allowing pets?

Asked by Drmcfall, Edgewater, NJ Wed Aug 1, 2012

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Pamela Burns’ answer
Pamela Burns, Agent, Edgewater, NJ
Tue Sep 4, 2012
Buildings that allow pets appeal to ALL buyers and as a result, increase the buyer pool and property values. Buildings that do not allow pets drastically decrease their buyer pools because anyone who has a pet will not even look in these buildings. Encourage your board to allow pets, install a dog run (if possible), and write up ground rules for pet owners. The board may want to have a size limit of fewer than 50 lbs and encourage owners and renters to pay a pet deposit.
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Diane Glander, Agent, Spring Lake, NJ
Thu Aug 2, 2012
Sure. By allowing pets, you open up ownership to a whole new group of people. Any time you increase the number of potential owners, you increase the potential for price improvement.
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Jacques Ambr…, Agent, Forest Hills, NY
Wed Aug 1, 2012
I've been selling apartments for 30 years, and my answer is definitely YES. since so few buildings allow pets I think it would help. My experience is that even in no pet buildings plenty of people have pets, so you may as well. Once suggestion is to charge a "pet fee" to cover any messes
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