Got the prospect of pets as tenants? Here's what to consider
As a landlord, if you haven't been asked already, one day either a current or prospective tenant will ask whether or not pets are allowed.
In the UK, the law states that landlords can’t prohibit tenants from having pets. Meaning should your tenant make the request, you cannot refuse it unless you have reasonable grounds – such as a large dog in a small apartment. Additionally you can certainly choose rental applicants who don’t have pets. But remember that 44% of people in the UK so saying no could limit the number of quality tenants interested in your property.
In fact, allowing pets could actually attract better tenants. Let’s discuss how you could benefit from this tenant segment.
Benefits of owning a pet
Pet owners have better mental and physical health
Many studies have shown that owning a pet has many benefits to their owners especially in terms of mental and physical health. The main benefits are:
Combat loneliness: cats and dogs in particular make for great companions. You can talk to them, cuddle up to them, and play with them. Just ask anyone who had the benefit of a pet during lockdown!
Lower stress: Pets can help you feel more relaxed in a stressful world. Watching fish swim in their aquarium, while listening to the bubbling water of the filter, can be very relaxing. Or you could Netflix and chill with your dog or cat.
Keeping fit: Man’s best friend, in particular, needs to be taken out for regular walks, which not only keeps them healthy and keeps the boredom away – but keeps their owners healthier too.
Safety: It's widely known that many people get “guard dogs” to protect them and their home from burglars.
Pet owners are more responsible
The most popular types of pets include dogs, cats, birds, rabbits, guinea pigs, fish and snakes – require a lot of care. From simply feeding and watering them, cleaning up after them to keeping them entertained, pets are a lot of work. And it takes a certain level of responsibility and care to own one.
Benefits to landlords who allow pets
As a landlord, you want to ensure your tenants are taking great care of your property and research has found that those who allow pets, actually benefit more than those that don’t. Here’s why:
Increased demand: By allowing pets into your home, you’ll attract more tenant interest. As we’ve previously stated, almost half the people who live in the UK have a pet – and if you permit them, you’re opening up your door to more applicants, giving you more choice for tenants.
Increased income: You can increase your rental income. Only 7% of landlords allow pets so it can be difficult for tenants to find a property that allows pets meaning they’re generally willing to pay more. More rent means higher income for you to help pay off your mortgage.
Long term tenants: Your tenants will rent for longer. Because it can be difficult to find a good home that allows pets, your tenants are more likely to ask for a longer lease – which means you have a more secure rental income. They are also more likely to renew their tenancy.
More responsible tenants: As we explained earlier Pet owners have a lot of responsibility taking care of an animal, so they’ll generally be more accountable for taking care of a home as well.
Added security: This is particularly the case with dogs, as they can deter vandals or burglars into the home.
Precautions to take before accepting a tenant with pets
Now, wouldn’t you like to have healthy, responsible tenants? Although there are many benefits, there are also risks involved with allowing pets into the home. One of the major concerns, of course, is damage – particularly caused by dogs that tend to chew or jump or cats that like to claw your screen doors and windows. Not to mention bad odours, fleas and holes in the garden from digging. Noise could also be an issue if you have a dog that barks when left alone, and allergies can be problematic, particularly if pets are in unit buildings with shared air conditioning.
If you do have concerns with allowing pets into your home, there are a number of precautions you can take to ensure your property is better protected.
Here are our tips:
Restrict the size of the pets to suit the size of the property: The last thing you want is a Doberman in a single bedroom unit. Small pets for small homes; larger pets for larger homes with a yard and plenty of outdoor space.
Limit the number of pets your tenants can have: Most people only have one or two pets, but if you have concerns that someone is bringing 10 cats into your home, you might limit that number.
Ask plenty of questions: How many pets? What breed and size? How old are they? How long has the tenant owned the pet? Is the pet trained and has it had its vaccines?
If you’re unsure about a tenant’s choice of pet, before you approve their lease, you could ask to see the animal(s) yourself (or for your managing agent to do so). Alternatively, you could check with their previous property manager or their references and ask them whether there has ever been complaints, damage or problems with the animal.
When setting up your lease agreement, ensure you include a clause that states the tenant must tell you if they bring more pets to the property. This keeps you updated so there are no surprises. Ensure your agreement mentions what needs to happen if there is damage, who is the emergency contact for the pet should the owner be away or not answering calls and messages, and make sure the agreement stipulates that if there are any changes to the number of pets or type of animals in the home, the landlord needs to be informed immediately.
By being prepared before you allow pets into your property, you will have less chance of problems down the track.
Mitigate any risks
Did you know that our Butterfingers insurance covers damage done by any pets that you allow into your property, check it out today.