Should you allow pets in your rental property?
It is becoming increasingly common for landlords to allow tenants to have a pet in their property.
There can be many benefits and opportunities of allowing pets on the tenancy agreement, but before you decide, make sure to consider the following pros and cons.
Pros
- Increase your chances of finding a tenant
Since 2015, the percentage of people who searched for a pet friendly rental a month on reiwa.com increased by 224 per cent! It is fair to say that more and more Western Australians are owning pets, which means you will have a larger pool of prospective tenants to choose from. If you want to secure a tenant sooner rather than later, consider allowing pets.
- Increased rent
Not only could banning pets cut you out of a larger demographic of people, it could also be a missed opportunity for you to charge higher rent. You can potentially increase your rent based on the high demand of pet friendly rental seekers. Look around your area and see how many pet friendly rentals there are currently available.
Find out how many pet-friendly rental properties are in your area.
The top five searched suburbs for pet friendly rentals on reiwa.com in 2018 were:
- Scarborough
- Joondalup
- Perth
- Ellenbrook
- Canning Vale
- Longer tenancy
For most tenants who own pets, they are looking to secure something long term, as finding a rental that allows pets can be difficult and unpredictable. By allowing pets, you increase your chances of securing a responsible, reliable tenant on a long term lease who will go the extra mile to take care of your property.
- Pet bond
By allowing pets, there is a pet policy that the tenants must adhere to when they sign the lease. Make it clear to the tenants what is expected of them and their animal, and if any of the terms are violated, you can issue a breach of the contract. You are also within your rights to charge a pet bond of $260 which can only be used for fumigation, any other damage caused by the animal will be the tenants responsibility.
Cons
- Potential damage to the property
The biggest deterrent for landlords when it comes to allowing pets is the potential for damage to the property. Pets can scratch floors, leave carpet stains, disturb the garden and even leave behind a lingering odour. This can be a risk of allowing pets, however, with routine inspections and good communication with your property manager and tenants, it is easy to mitigate and control. You can also include in the lease agreement not to have the animals inside the house if you wish, which can help reduce any damage caused inside of the property.
The team at PB & A have specific Pet Agreement which has to be signed by the Tenant and becomes part of the lease agreement. The addendum is a detailed agreement which clearly outlines the Tenants obligations and responsibilities in regards to rectifying and financially compensating for any damage that may be caused. Please let your property manager know if you would like to view the Pet Agreement.
- Disruption to the neighbours
Barking dogs, meowing cats and loud birds can sometimes disturb the peace in the surrounding neighbourhood. If there are any noise complaints, it is important that the tenant communicates with the managing agent and the neighbours about coming to a solution. Generally, these are easily resolved, but it’s worth being aware of when weighing up whether you’re willing to allow pets in your property.
Summary
While allowing for pets does come with the potential for some minor risks, these are calculated risks. If you have all the correct measures in place, a pet-friendly property can be of immense benefit to you and is always going to acquire more demand than a property that does not allow for pets. For strata titles properties there may not be an allowance for pets under the strata by-laws. Your property manager can assist with finding out if pets are allowed on site or not. The team at PB & A are here to support whatever choice you make. There is no right or wrong answer.
To find out more about the realities of letting tenants with pets move into your rental, speak to the team at PB & A to see whether this is suitable for your investment.
Reference: https://reiwa.com.au/information/investors/should-you-allow-pets-in-your-rental-property-/
