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Pet Friendly Rentals

Monday, February 20, 2012

Some of the best tenants are those with pets. They understand the importance of excellent references and exemplary conduct.

Have you ever considered renting for pet owners? Conventional wisdom suggests you might want to think twice about that. Obviously there’s the potential for marked walls or garden damage.

New research suggests perhaps not. Research also shows that tenants with pets pay substantially more per week for their property.

Responsible pet owners typically work hard to ensure their pets don’t annoy neighbours and don’t do damage to their rental property. They know that one black mark against their name means it may be much more difficult to rent in future, or worse, they may have to surrender their pet to be euthanised, if they can’t find a suitable property.

Naturally, as with all rental applicants, good pet references are essential. We have many landlords that agree to have pets in their property. We ask tenants to sign an annexure to their lease, clearly spelling out expectations and requirements.

By having in place clear guidelines on the keeping of pets in your property, irresponsible pet owners can be screened out without penalizing responsible ones. Responsible pet owners will agree immediately to keep the premises clean and take all necessary sanitation precautions. They also have current medical and registration records.

As a landlord, the choice remains yours but allowing us to consider applications from prospective tenants with good references expands your pool of potential customers. Anecdotal evidence also suggests tenants with pets rent for longer periods, reducing the wear and tear that occurs when people move in and out, and, lifting your annual net return.

Even though vacancy rates are at very low levels and many landlords experience no difficulty finding good tenants for their properties, renting to a responsible tenant with a pet may see your investment leased for a longer period, at a higher rate, and that’s well worth thinking twice about.


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