Would you consider Pets at your rental property?

Pets or No Pets?

Pets or No Pets?

Property investors have long been hesitant to list their properties as pet friendly. There are fears that animals will damage their property which sometimes prevent landlords from all the potential prospective tenants at the time their property is listed for rent. It is important for landlords to consider all the benefits and potential risk before a decision is made:

Benefits of a pet-friendly property
· Pet-friendly properties immediately increases tenant interest

· It gives your property an advantage over competing properties

· Advertising your property as pet-friendly makes the rental more in demand, which can reduce time on advertising

· Pet-friendly properties more often than not increase the weekly rent

· In-demand properties (such as pet-friendly) have very short vacancy periods, limiting pauses in cash flow from rent payments

· Once a pet-owner secures a property they feel ‘at home’ having their pets with them, and are therefore less likely to leave

· Property is to be professionally treated for fleas and deodorised if required upon vacating
Risks of a pet-friendly property
· Potential damage from animals chewing or scratching the property

· Potential odour from animals (even though we cover this in the lease to be completed)

· Noise complaints
How to make your investment property pet-friendly Making slight modifications to your investment property can minimise the damage caused by tenants’ pets (such as scratches to floors and doors) and the need for excessive maintenance.
· Advertise outside pets only

· Consider tiles or linoleum flooring rather than carpet or floorboards

· Ensure the outdoor space is securely fenced off to attract tenants with outdoor pets

· Install additional features such as doggie-doors

· Ensure the tenant signs a pet agreement outlining their responsibilities, additional cleaning or pet repair costs making it clean in their pet friendly property obligations