A recent article in NuWire Investor reports findings from a study conducted in the US that condominium prices are affected by whether or not pets are permitted or prohibited on the property. Research from surveys taken in 2005-2007 in the Fort Lauderdale area showed there was a premium on prices for pet-friendly condos, while prices were negatively affected in condominiums that prohibit pets.
It should be noted that the survey may have been swayed because a significant amount of participants likely included retirees. The researchers insist, though that the data may prove to be foreseeing as the number of households with pets increase and developments that understand this and market to pet owners may be rewarded for doing so. An increasingly amount of new condominium projects are providing space for pet grooming areas, doggie parks, etc, as part of the building amenities.
Many condominiums are shifting to permitting unit owners to have pets on the propperty; however, prohibiting tenants from doing so. What once used to be a pet restriciton based on weight; typically 25 lbs or less, has now transitioned into restrictions on breed, mainly pets considered to be of "aggressive breeds."
For more information about pet-friendly condos for sale in Fort Lauderdale, whether buying or selling, contact me today at 954.850.2397.