A campaign from the Dog’s Trust, ‘Lets With Pets’ has been informing landlords and letting agencies that exclude tenants with pets from their properties that they are missing out on a significant share of the rental market, with nearly half of UK households currently owning a pet.
Unlike this peculiar story of an unusual pet in Edinburgh, most pets are cats and dogs, and if one of your tenants asks permission to keep a pet on the property, do you know what your reaction will be?
It may initially seem like a risk to allow animals in your property, but permitting tenants to keep a pet can set you apart from other landlords, improve your relationship with your tenants, and even allow you to add a premium to the rental value you can achieve.
With almost half of all households in the UK owning a pet, by excluding pet-owning tenants, you could be missing out on a massive part of the rental market. Allowing pets can increase the demand for your property, and attract responsible tenants looking for a long-term let.
Once a tenant finds a tenancy that allows them to bring their furry friend, they are far more likely to stay.
While it is no longer possible to charge a ‘pet deposit’, most pet owners would be willing to increase their rent by a small amount to account for additional wear and tear, meaning more profit for you.
For the vast majority of pet owners, their four-legged friend is a much-loved member of the family, and they take ownership very seriously. Pets require commitment, a regular income, and a responsible nature – all desirable traits in a tenant.
You may need to check with your insurance provider to see if your policy includes accidental pet damage, as it is likely that it will not be included as standard.
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