Mon 16 Oct 2017
I have this week completed a viewing on a property for a couple who have a dog. The landlord is happy to have one dog in the house and they like the property. Hopefully we will have a happy Landlord, Tenants and Dog by the end of the week
However what is evident is that there are many loving families and couples who have pets that simply find it near on impossible to find a pet friendly landlord. If you search a lot of property listings online then a lot of properties will not accept pets. NO PETS!!
Hassle or Opportunity?
For me, whenever I spot a barrier to entry i.e. most pet owning tenants find it difficult to secure a rental property then I see opportunity. I guess, many will see hassle, possible damage and then cost to fix the damage. To those who disagree with me and firmly come down on the ‘no pets’ side of the fence, I want to highlight just two things that a landlord should consider about pets:
1) Higher rental amounts - Because it is difficult for pet owners to find nice houses, they will pay more.
2) Longer term tenants - Because it is difficult for pet owners to find nice houses, they will stay put longer due to the hassle of finding somewhere new!
Now, if I was to promise the above two points without telling you how, I am sure you would be interested to hear how the above is achieved. However, when I mention that higher rents and longer term tenants can be achieved by allowing pets, then most landlords will scoff. But why?
“Because they damage the house” - That can be the only legitimate reason why a landlord would refuse. But, I would argue that you can mitigate against damage, cleaning and smells. Three careful steps can lead you to enjoy higher rents and longer term tenants.
What Can you do as a Landlord?
1) Take a larger deposit or a Pet Deposit. However this option may be taken away from us with the Tenant Fee Ban.
2) Add some additional clauses in your rental agreement to cover returning the property to its original clean, pet stain free state. You may also consider doing a separate pet agreement.
3) Vet the Pet just like you do the tenant. You could visit the new prospective tenant in the existing property. From this you can tell a lot to see if the pet has caused damage in the existing property or if we can smell the pet in property.
So, why not think about it, you may just make a bit more money out of your investment by getting more monthly rent and less voids whilst also making a loving pet owner very happy! Dare I also argue that if someone agrees to point 2 above, then they are also more likely to look after the general state of the house - humans can cause far more damage after all!
"Example of testimonial would go here"