Pets are a divisive subject for some landlords, pet lovers and not alike! But, whether you love or hate the idea of pets in your properties, here are the pros and cons we see for you to consider:
Many tenants are limited in the choices they can make for properties by the fact that they have a beloved family pet – allowing tenants to have a pet at your property means that you open your pool of potential tenants further.
Other tenants you may have in the future may be allergic to pet hair – this is difficult to overcome but the number of pet-hair allergic people is significantly lower than those with pets!
It’s well documented that pets make people happy. Happy tenants make your job (and life easier) and happy tenants are likely to stay.
Some pets are noisy. Their owners might not care, but their neighbours certainly will. Overcome this by getting quality references for your new tenants if they already have a pet.
As Pet-friendly properties are more limited, you have the option of increasing your rental price without fear of being priced out by your competition.
Cats scratching furniture and walls, animals chewing carpets and flooring – this can cause some damage to your property. That being said, you can manage this with clauses in your contracts stating that the tenant is responsible for any pet damage caused. (You should make sure that you take photographs of the property on commencement of the tenancy and that the tenants agree to the state the property was in at commencement.)
Because it’s harder to find pet-friendly options, pet-owning-tenants are more likely to stay in their properties longer. It’s also really hard to up-root some family pets, so staying put becomes an appealing option.
That’s right, the smell of pets is enough to put off new potential tenants when needing to change things up. There are ways to overcome this, however, if you need to. A full deep clean and a really decent airing can help. You can also advise any potential tenants that the current tenants are pet keepers, but that you will be ensuring that the property is fully refreshed prior to their occupancy. That might alleviate any potential concerns.
If you agree to allow pets, your tenants are not likely to add one that you don’t know of. Keeping things honest means your insurance is suitable and your relationship with your tenants stays healthy.
Pet hair is a common concern among landlords. It is pervasive and gets everywhere! But, with many common dog breeds now becoming more popular for their lack of shedding, this may not be as much of an issue as you might think.
It’s expensive to keep a pet and, statistically, people with a pet will be in a higher earning bracket, this means more security for your rent payments reaching you.
REMEMBER: A no-pet-policy does not allow you to say “no” to a potential tenant who needs the animal for support/assistance.
We’ve checked out the pros and cons of allowing pets – and there’s much more to discuss. If you want some advice on how you can protect your property, and still give yourself as much opportunity as possible by allowing pets, get in touch with a member of our expert team today.