There’s no need to be a scaredy cat when it comes to allowing pets in a rental property.
Let’s face it, a lot of tenants find looking for and keeping a rental property stressful. It can be hard for them to find a place that is close to their work, school and family. Throw a pet into the equation and it makes it even harder; with over half of all landlords in Perth not willing to look at applications from people that own pets.
The funny thing is, rent-seekers and landlords have something in common, they both (potentially) have pets. So why is it so hard for a tenant to find a place that approves pets? As a property investor, think of the opportunities that open up when a rental is offered to a pet owner.
Pets are great for mental health, fitness and act as great companions, therefore, a stress-free, pet-owning tenant could help to maintain tenant stability.
Yes...pets can sometimes be a bit smelly, and yes… they can get up to mischief, but is it worth eliminating these people as potential tenants, reducing prospective tenants by around 50 percent and possibly increasing an investment properties chance of being vacant for longer?
Here are some other reasons why it could benefit a landlord to allow pets in a rental...
1. It can help keep tenants organised.
Being motivated to feed, groom and exercise pets can help people get into a routine. Routines mean organisation and planning, two behaviours which are beneficial to mental health and wellbeing.
2. Socialising pets can get tenants active and out of the house!
Those daily walks, dog clubs, puppy schools and cat shows encourage a sense of socialisation fot the pet and the owner. Getting out with a pet can improve social interactions and fitness levels.
3. Pets = Commitment
When tenants have a pet, they commit to a responsibility to give their companion a loving and safe home. Once they find a rental they love, with the ability to have a pet in residence, their commitment will likely extend to maintaining a stable homelife for their pet. i.e. Once Rufus is settled, they won’t want to move him in a hurry!
We know that having a tenant with a pet is not always rosy, so here are a couple of safeguards to put in place that will reduce the chance of damage to an investment property:
We know that having a tenant with a pet is not always rosey, so here are a couple of safeguards to put in place that will reduce the chance of damage to an investment property:
Use a good property manager that knows the laws on having pets in rentals
Request a pet bond. At present this is $260
Keep up regular inspections on the property checking for:
Additional wear and tear on carpets and floor boards
Heavy soiling of grout, carpets and other flooring
Any damage from claws or chewing to walls, doors including the backs, skirtings and fly screens
Signs of fleas in carpets
Request the carpets are treated for fleas when a tenant vacates
If all else fails and the tenant is not looking after the property as stated in the tenancy agreement, issue a breach
If you want to know more about how to safely rent your property to someone with a pet or for any other property investment advice, PEB Property Group can help. Give us a call on 1300 187 894
We come to you!
PEB Property Group is a complete financial planning advisory service for Perth families. Offices are located in Inglewood and Willetton, Perth, Western Australia and offer - Financial Planning · Finance Broking · Property Management · Real Estate Sales · Property Investment · Development.
Disclaimer: Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this edition is correct as of the date of publication and is subject to change.