The past year has been hard on a lot of us. But one thing that hasn’t suffered is the rental market. Tenant demand has risen 13% over the last 12 months, which is great news for landlords looking to rent out their empty properties. But another interesting statistic is hiding in there too. The demand for specifically pet-friendly properties has more than doubled – it’s up 120%. Over half of UK adults now own pets, and two-thirds of renters would like to own a pet, but don’t because of their landlord’s rules. Which has caused a lot of landlords to start questioning whether they should consider allowing pets in their rental properties. If you are, here are a few pros and cons for you to consider.
Pros
- Longer Tenancies: Generally, the longer you can keep a tenant in your property, the better it is for you. It reduces your costs if you don’t have to keep paying fees to find and vet new tenants, and you avoid vacant periods where you earn no money at all. Pet owners are more likely to sign long-term tenancy agreements when they find a property that they and their furry friend can feel comfortable in. Because so many landlords don’t allow pets, tenants tend to remain loyal to the ones that do.
- More Choice: Research shows that almost half of all renters have a pet – so if you don’t accept pets, you are literally cutting your tenant choices in half, and your property will likely be on the market for longer. By allowing pets, you’ll have the pick of the litter for tenants, and you can make the best choice for you and your property.
- No sneak-Ins: It’s no secret that some tenants who aren’t allowed pets will attempt to sneak them in anyway without their landlord’s knowledge. It’s best to be open and know how your property is being used, so that you can make sure the right provisions are in place. Allowing pets means you never have to worry about pets being in your home without your approval.
- Happier Tenants: Happy tenants are good tenants. Research and experience show that happy tenants tend to be quieter, take better care of the property and stick around for longer. If your tenants know that their fluffy best friends are welcome too, they are more likely to take pride in the property and be a courteous tenant.
Cons
- Damage: This is what worries most landlords above anything else. Animals aren’t as civilised as people, and they have been known to cause damage to properties. Scratched carpets, damaged skirting boards, stained flooring and urine damage to grass are some of the most common issues we see with pets.
- Neighbour Complaints: Try as we might, we all worry when a new neighbour moves in. We worry about noise and disturbances, whether the dog will bark all the time or the cat will use our lawn as a litterbox. Allowing pets could cause those worries in your outside neighbours or other tenants, so you need to just bear that in mind.
- Odours: There’s no getting around the fact that animals can sometimes leave an odour in a property. Even the cutest ones have accidents, but if you have responsible tenants who use the right products and clean thoroughly, then it shouldn’t be an issue. But if you have tenants who don’t look after their animals or your property, then odours could linger, and those little accidents could cost you a lot to fix.
At the end of the day, there is no right or wrong answer when it comes to accepting pets. As a landlord you need to weigh up the pros and cons for yourself, and decide on what you think is best for your situation. We recommend using your discretion and choosing whether to allow pets on a case-by-case basis, rather than a blanket yes or no for all tenants. It is often the tenants themselves who cause the issues by not looking after their pets properly, and a good agent will always seek to find tenants who will respect and look after the property anyway, so it should be no different if pets are involved. If you would like a professional opinion, or just want to ask some questions, just get in touch with the team at Northwood, and we would be happy to help.
