It is becoming increasingly common for landlords to allow tenants to have a pet in their property.

There can be many benefits and opportunities of allowing pets on the tenancy agreement, but before you decide, make sure to consider the following pros and cons.

Pros

1. Increase your chances of finding a tenant

Since 2015, the percentage of people who searched for a pet friendly rental a month on reiwa.com increased by 224 per cent! It is fair to say that more and more Western Australians are owning pets, which means you will have a larger pool of prospective tenants to choose from. If you want to secure a tenant sooner rather than later, consider allowing pets.

2. Increased rent

Not only could banning pets cut you out of a larger demographic of people, it could also be a missed opportunity for you to charge higher rent. You can potentially increase your rent based on the high demand of pet friendly rental seekers. Look around your area and see how many pet friendly rentals there are currently available.

Find out how many pet-friendly rental properties are in your area.

The top five searched suburbs for pet friendly rentals on reiwa.com in 2018 were:

• Scarborough
• Joondalup
• Perth
• Ellenbrook
• Canning Vale

3. Longer tenancy

For most tenants who own pets, they are looking to secure something long term, as finding a rental that allows pets can be difficult and unpredictable. By allowing pets, you increase your chances of securing a responsible, reliable tenant on a long term lease who will go the extra mile to take care of your property.

4. Pet bond

By allowing pets, there is a pet policy that the tenants must adhere to when they sign the lease. Make it clear to the tenants what is expected of them and their animal, and if any of the terms are violated, you can issue a breach of the contract. You are also within your rights to charge a pet bond which should cover the costs of any damage caused by the pet to the property and count as insurance.

Cons

1. Potential damage to the property

The biggest deterrent for landlords when it comes to allowing pets is the potential for damage to the property. Pets can scratch floors, leave carpet stains, disturb the garden and even leave behind a lingering odour. This can be a risk of allowing pets, however, with routine inspections and good communication with your property manager and tenants, it is easy to mitigate and control. You can also include in the lease agreement not to have the animals inside the house if you wish, which can help reduce any damage caused inside of the property.

2. Disruption to the neighbours

Barking dogs, meowing cats and loud birds can sometimes disturb the peace in the surrounding neighbourhood.  If there are any noise complaints, it is important that the tenant communicates with the managing agent and the neighbours about coming to a solution. Generally, these are easily resolved, but it’s worth being aware of when weighing up whether you’re willing to allow pets in your property.

While allowing for pets does come with the potential for some minor risks, these are calculated risks. If you have all the correct measures in place, a pet-friendly property can be of immense benefit to you and is always going to acquire more demand than a property that does not allow for pets.

SOURCE: www.reiwa.com.au