Pets have become constant companions in our changing world. Over 23 million American households have brought home a pet during the pandemic. This pet parent boom has allowed for various apps, products, and services to enter the multifamily ecosystem. But don’t be surprised when you learn the younger a pet parent is, the more they will spend on these new opportunities to keep their fur kids comfortable and safe.
Lerer Hippeau reported, “As Gen Z, the 'loneliest generation,' enters their key spending years, many are searching for companionship in their pets. Millennials and Gen Z own ~45% of dogs today and will own 60% of dogs by 2025 — these younger generations are demonstrating a higher willingness to spend on pets, and will contribute to continued growth in the pet care industry as a whole.” Even if younger generations are the driving force behind this pet boom, everyone can benefit from apps that connect pets to caretakers to collars that track location to sleep cycles.
Most importantly, pets are being cared for on a larger scale, from veterinary care to animal welfare.
“...While the pandemic accelerated pet ownership, household formation among Millennials and Gen Z will likely sustain it. In the AlphaWise survey, 65% of 18- to 34-year-olds plan to acquire or add a pet in the next five years, helping drive what's expected to be a 14% increase in pet ownership by 2030. What's more, pet owners—younger ones in particular—are spending incrementally more on their pets,” Morgan Stanley forecasts.
Breed Restrictions Keep Pet Parents Away
According to Multifamily Insiders, apartment operators have begun to ease breed and weight restrictions to increase pet-friendliness, but not as quickly as pet parents need. Many communities still limit breeds based upon insurance policies or community rules. "Better enforcement of dog license laws, increased availability of low-cost sterilization, graduated penalties for dangerous dogs, and laws that hold owners financially accountable for failure to adhere to animal control laws are the foundation of a more effective policy," PropModo states.
To take advantage of the additional revenue stream, management teams must decide if they will change breed restrictions or refuse potential residents.
Forbes goes on to really break down one of the highest friction points in multifamily housing. “The Pet-Inclusive Housing Initiative has found 72% of multifamily residents report trouble finding pet-friendly housing. Many rental properties are not fully pet inclusive. They either entirely outlaw or substantially restrict residents from housing their pets in their apartments.
Despite those 72% of residents who say pet-friendly housing is hard to find, 76% of owner-operators consider themselves pet friendly, according to the report. Just 8% of rental housing is free of pet restrictions. But when pet-friendly housing is offered, residents stay 21% longer than they do in non-pet-friendly housing, the report says.”
Pet-friendly SEO Tips
“While a pet-friendly status alone used to be a competitive edge, it is now expected of most communities. So, to stand out to pet owners, it’s important to not only market the fact that you are pet-friendly, but also share your enthusiasm for the four-legged companions in our lives,” G5 Marketing explains.
- Include a healthy amount of pet-friendly keywords in your website copy
- Be sure to include photos of animals on your website and include relevant keywords in the alt descriptions (the description that helps screen readers/assistive devices know what an image shows on your website)
- Consider adding a page to your website that is devoted to your pet policies, amenities, and other pet-related perks
Top 5 Pet Parent Retention Services
Provide a Pet Spaw
Whether it’s on-site or mobile, pet parents need simple access to grooming services. Partner with Elevated Living to schedule your community’s next spaw day
Host 1-on-1 Trainers & Pet Parenting Classes
The best way to help residents be responsible pet parents is to offer on-site training. Schedule weekly classes through Elevated Living, and watch the positive changes in your community’s furry residents.
Support Local Rescues & Shelters
Fostering community and supporting local organizations is important to many residents. Elevated Living event managers can help your team plan and deliver nonprofit and fundraising events.
Offer Dog Walking & Pet Sitting Services
Prevent pets from getting lonely or destructive with pet caretaker booking options right in your building’s branded app powered by Elevated Living. Dog walking, cat sitting, and meal time can all be scheduled straight from your app.
Host Pet Events
Tailor experiences for pet owners by creating unique opportunities for them to connect with neighbors and on-site teams. Elevate Living event managers can show you how easy it is to retain pet parents when they love where they live.