For many a landlord, the idea of a tenant with a pet was one to skip over – but recent studies show that attitudes towards pet friendly rentals could in fact be changing.
An increasing number of millennials are pet owners – in the US, 71 per cent of men aged 18-34 had dogs, compared to 62 per cent of women. Given that this demographic has also been nicknamed ‘Generation Rent’, it’s perhaps no surprise that landlords are rethinking pet policies in order to cater to demand. Many landlords in the past may have worried that pet friendly rentals would result in property damage, noise complaints and issues with neighbours, but as many of these issues have been debunked as misconceptions, could it finally be time for landlords to advertise houses to rent with pets allowed?
Here we look at some reasons why you might want to reconsider your pet policy:
You can reduce turnover
Research has shown that pet friendly houses for rent tend to experience less turnover, and that tenants with pets tend to take more care in treating the home as they would their own. As finding pet-friendly properties can sometimes be challenging depending on the market, once in a home they like that caters to this request, many tenants will prefer to stay put and take extra care than look for another property.
You can expand your prospects
Letting with pets can help you cast your net wider, as it were, meaning you have more choice in terms of tenants. This can lower vacancy periods between tenancies whilst also giving you more choice and a better chance of finding a tenant you like who meets all of your criteria.
You can potentially make more
Some landlords will charge a little extra in rent each month to account for any damage, while others will charge a fee at the beginning of the tenancy to account for the additional furry occupants. Again, depending on the market and how readily available pet-friendly accommodation is, most tenants would be willing to pay a little extra if it means keeping their pet, which ultimately adds up to more for you.
After a CCTV camera, a loud barking dog has been named the second-biggest deterrent for break-ins. Of course, nuisance, noisy dogs who bark at all hours can create neighbour conflict, but many will simply bark just at the sound of the door or the sight of someone approaching the house. This alone can be incredibly effective in making burglars think twice about targeting your property.
Ultimately whether you choose to list your houses to rent with pets is a question of personal preference, but many landlords are already seizing the opportunity to widen their tenant market. You can always have caveats such as having occupants pay for end-of-tenancy cleaning written into the lease to help reduce the amount of maintenance you have to do between turnovers, and/or request a higher security deposit for added peace of mind.