Should your rental be pet-friendly?
Allowing pets or not is one of the very careful decisions a landlord needs to make. Many landlords have a standard ‘no pets' approach when advertising for tenants, but actually can be quite negotiable, particularly when they know how to protect themselves with a good pet clause.
On the other hand, if you allow a pet you may be able to attract a tenant in a difficult market, or keep an existing tenant, or you may be able to charge higher rent. Many landlords do not realise they can manage the pet risk reasonably well. If you allow pets, be specific about the pet, and set out clear instructions on how it is to be managed in your pet attachment in the tenancy agreement.
We appreciate pets may not be suitable for every property, but the benefits may outweigh the risks.
Benefits:
More applicants - Landlords who allow pets in their properties will have access to a much larger pool of potential tenants. More choice is always a bonus when looking for the right tenants.
Setting your rent - Demand is high for rental properties that are pet-friendly and renters are often willing to pay a higher weekly rent to secure a home that is pet-friendly.
Tenants may stay longer - You may find that your tenants with pets are more inclined to stay in your rental property for a longer period of time due to the difficulty associated with finding a pet-friendly property.
Less time marketing your property - Due to the high demand for pet-friendly rental properties, it may take less time to find a suitable tenant. The lack of pet-friendly rentals available combined with the huge number of renters with pets creates an ideal circumstance for landlords.
Reference Check for Pets:
At Sinclair Property Group, we have a rigorous tenant selection policy. Your Sinclair Property Group property manager will complete reference checks, including a credit check and background check which will assist you to choose the most suitable applicant. If the tenant has been allowed to have their pet at a previous rental, your property manager will also ask their past landlord suitable questions around this.
Pet clause in Tenancy Agreement:
Sinclair Property Group has a specific pet clause that we add to the Residential Tenancy Agreement. This creates a space for transparency around the rules, restrictions and responsibilities of your tenants regarding their pets. Being able to control the situation from the start and come to a mutual agreement with clear guidelines will help you to avoid any issues arising down the track.
The decision to allow pets is a choice that each landlord should assess and consider. We recommend that you view it on a case by case basis as to not limit your applicant pool and keep your options open. If you’re still not sure if your property should be pet-friendly, speak with us today!
