Should you allow pets in your rental property?

If you have a rental property, at some stage you will have to decide whether or not to allow pets. To make this decision, you will have to consider if your property is suitable for pets. Are there expensive pieces of furniture which could be damaged by animals, is the backyard adequately fenced-off for a dog to run around in and is your property large enough for larger pets.

You will also have to consider what type of pets you will allow and how you will factor in the cost of repairs of any potential damage that pets may cause to your property. You will even have to consider the cost of cleaning the property as some pets leave an odour. Though this may sound off-putting, allowing pets in your rental property can actually have many positive benefits.

Widen the net of potential renters

Allowing pets in your rental property will widen the net of potential renters that you are able to market your house to. When a pets are disallowed, it limits your marketing to families who do not own a pet, whereas property owners that do allow pets can market their properties to anyone. With more and more people opting to own some type of pet nowadays, you will be able to market your property to many more people.

Charge a premium

Allowing pets into your rental property may even enable you to increase the rent per week on your property to cover any potential damage to the property caused by pets. You can also ask for a pet-deposit, which is a type of bond to cover damage caused by pets, as well as a pet fee per month, for the privilege of pets being allowed on the property.

Whilst these payments may only be small amounts of money, they are sure to add up over time. If you are trying to rent out a property in an area with few pet-friendly rentals available, you may also be able to increase the rent per week because your property is unique and hard to come by.

Greater protection

While pets can potentially damage your property, advertising your property as a pet-friendly property can actually be advantageous. When you advertise your property as pet-friendly, you set out all pet-related maintenance costs and bonds from the outset. This ensures that both you and your tenants are on the same page about each of your responsibilities with regard to the pet(s).

Advertising your property as pet-friendly eliminates the risk of tenants housing their pets in your property in secret.

Reduce tenant turnover

Pet owners are generally less likely to move from rental property to rental property as it is more difficult for them to find a suitable property for their pets. Offering your property as pet-friendly could save you time and money by reducing the turnover of tenants.

At Rosie & Rosie we understand that your investment property is an investment in your future. As property managers, we treat you, your property and your tenants with professionalism, respect and great care.