For many years now, landlords and pets have been arch enemies. Tenants have snuck furry friends into properties without permission, and countless legal battles have ensued due to damage caused as a result.
Now though, many landlords are realizing that this pet thing might not be as cut and dry as it seems. With more renters on the market than ever, pet approval is becoming increasingly popular, and there’s evidence to suggest that you’d be barking mad not to consider it
Obviously, you’ll want to put precautions in place to reduce damage where possible. Many landlords are noticing the benefits of patioed lawns with dogs around. Even those accepting indoor cats are realizing the importance of carpet alternatives, including tile and concrete polishing benefits.
But, once you take care of these relatively inexpensive adjustments, you open yourself to a world of pet-acceptance advantages, such as –
#1 Brand new rental opportunities
The rental market is fierce at the moment, and it isn’t unheard of for rental properties to sit on the market for months at a time. Not only does this cost in advertising, but it also leaves your income stalling. That’s a mixture no landlord wants, and it’s a risk you can do away with by accepting pets and opening your opportunities.
There are a great many pet-owning renters right now, and their options are still relatively limited in the grand market scheme.
As such, appealing here not only increases your market but also makes it easier for your property to stand above a limited crowd. This could result in speedy rentals and resumed property incomes that you’d struggle to get without this perk.
#2 The chance to make some money
Many landlords imagine pets will cost them, but that’s not the case. As mentioned, changing gardens and flooring applications may leave you out of pocket, to begin with, but you can cover these costs using calls for pet deposits at the commencement of agreed rental contracts.
These contracts should also make it clear that tenants must replace all items, furnishing, etc. that their pet damages in any way.
As such, you’ll be legally within your right to withhold deposit amounts in light of soiled carpets or chewed furnishings. Rather than leaving you out of pocket, pets could well see your property getting a revamp that doesn’t cost you a dime.
#3 A competitive edge
Let’s not forget that offering pet opportunities also give you a competitive market edge that’s guaranteed to take you far. In an age where everyone and their mother seems to have a rental on the market, this could be fundamental for helping you to secure long-term rental contracts at competitive prices.
The simple fact is that even a slightly more expensive rental is guaranteed to appeal to pet owners over another property that doesn’t allow animals.
This way, you can keep your prices high even with changing market needs, and still never worry about sealing rental deals. Instead, your pet-friendly policies will secure those contracts for you!
Are you considering pets at your rental property?