Fur children! A lot of families are incomplete without them. However, increasing amount of landlords are declining tenants with pets, as they are afraid to have them residing in their investment properties.

Fur children! A lot of families are incomplete without them. However, increasing amount of landlords are declining tenants with pets, as they are afraid to have them residing in their investment properties.

As a result, there has been an overall increase in pets being surrendered to shelters as tenants simply cannot find homes that accommodate their little furry family member. This in turn has resulted in overcrowding of our rescue shelters. Let’s share the love, what do you say landlords? In this article, we explore our top reasons why you should consider allowing your investment property to become pet friendly.

#1 Reduction in property vacancy

Alright, so the rental market is in an all time high at the moment. But let us be honest, this won’t last forever. There will come a time where you may struggle to consistently have your property occupied. That is just how the industry can be. As such, having a pet friendly investment property opens you horizons and allows you to accomodate to tenants outside the scope of other landlords in the same area. You have a competitive edge. This in turn means you reduce the risk of property vacancy. Who can say no to that?

#2 You open up to a chunk of Aussies, 37% to be precise

Opening up your investment property to pet owners exposes you to 37% of the Australian population. That’s no figure to laugh at. 37% is a huge market share that you are allowing to just sit, untapped. Or worse, allowing them to choose a neighbouring landlord over you.  Making your property pet friendly opens up to a larger market share. Simple!

#3 Pet owners generally know a thing or two about responsibility

Eager to find a tenant who is responsible, disciplined, routine-based and who are reliable? You have just described the profile of a pet owner. Part and parcel of their day entails looking after and helping tend to a furry friend. For the most part, a good pet owner has transferable attributes that equate to the ideal tenant.

#4 You may be able to get a higher rent price

Rental demand is up as we already covered. Most rentals on the market are not pet friendly. Now, imagine your bargaining power if yours was one of the few in the area that allows pets? That’s right, having a pet friendly investment property allows you the potential to negotiate higher rent on the property compared to others in the area.

#5 This avoids tenants (or guests of tenants) sneaking pets in

At the end of the day, you cannot always ensure no pets are getting into your property. Oftentimes, we have seen situations where tenants, or their friends, have snuck in pets occasionally for a duration of time. But, because your property hasn’t covered this possibility, you aren’t protected for damages. Therefore, if you allow pets, tenants will be less likely to sneak in pets that you have not approved.

#6 Tenancy terms will be longer

Normally speaking, if you get a tenant with a pet, they don’t tend to move very easily. It takes a lot for a pet owner to find a property that fits their situation, so once they are settled there is nothing really prompting them from moving apart from lifestyle changes. This means you can rest easy knowing you have a reliable tenant at home for the long haul.

#7 You CAN always put a pet agreement in place

You aren’t just opening up your home to the unlimited risk for damages. You are always entitled to having a air-tight pet agreement in place that covers damages, and liability on the tenant should a pet cause any breakage or damage. So, you will always be covered, minimising your risk.

If you are considering opening up your investment property to pet owners, we can help you through this process. Our team of real estate agents in Perth can help guide you seamlessly through this, and we can ensure you get a great tenant who respects your property, and stays for the long haul. We invite you to get in touch with our team today.