5 Reasons Why You Should Let Your Tenants Have Pets
24 February 2017 1495 Views
We as the human race have long since had an affinity with animals, inviting them into our homes and making them part of our families. This longing for pets doesn’t stop if someone is living in rented property and because of this, landlords can often be faced with a difficult dilemma. Initially, there is the decision whether you should agree to a tenant’s pet request in the first place. Furthermore, landlords have to consider the possibility of dealing with the destructive aftermath of an unapproved pet, which can be really expensive. This is often why the topic of ‘pets’ is one of the biggest sticking points landlords and potential new tenants.
While landlords may be against allowing tenants to having pets in their rental, especially if the property is let as furnished, there are actually a number of benefits to this agreement. To help you decide if you should consider allowing animals in your accommodation, Vivo Property Buyers have outlined five surprising benefits of tenants keeping pets.
1. Pet owners are willing to pay a premium
A survey by the Dogs Trust discovered that 78% of tenants with pets have found it hard to find animal friendly rental properties. And, it is because of this that pet owners are generally willing to pay more to secure a place which will accept their furry friend. You are also likely to be able to demand a higher security deposit to cover any damage caused by the pet.
2. Longer leases
The small number of available animal friendly properties also means that tenants are much more likely to sign longer leases or renew their housing contracts than renters without a pet. Tenants with pets find it difficult to find the right place, so when they’ve found somewhere they love, they often become long-term, house proud and reliable tenants. What’s more, because of this you are likely to save time and money due to not needing to find new occupants as frequently.
3. Get it rented faster
Along the same vein as the first two points, potential tenants will have a higher propensity to say yes and sign contracts faster than those without pets, for fear of missing out on one of the few suitable properties available to them. Also, as it can be hard to find pet-friendly properties, prospective renters are more likely to be serious about your property and not waste your time.
4. Pet owners are responsible
Generally speaking, people with pets have to be responsible enough to care for another life, meaning they are likely to be more responsible and trustworthy as renters. Consider this too; a pet owner who has permission to keep their loved animal in their rented property is more likely to own up to (and fix) any damage, compared to a tenant trying to hide the fact they have a pet. In this case they could try to cover issues up or patch them over, rather than getting them fully rectified, potentially causing bigger issues down the line.
5. Happy Tenants
Numerous studies have shown that pets can lower stress levels and have multiple health benefits including aiding to reduce blood pressure. As a result of this, your tenant is likely to feel more at home in the rental, which could mean they are more likely to look after it.
If you do decide to open your property up to pet owners, don’t let it bite you in the behind! Amend your contracts (or ask your letting agent to do so) to ensure that you are fully covered if the animal causes any damage to your property or its contents.