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Are You Open To Lets With Pets?

Are You Open To Lets With Pets?

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.

If you’re looking for landlords insurance, get in touch today.