3 Reasons to Consider Letting to Tenants with Pets
Landlords often have a default no-pets policy in their properties but there can definitely be some advantages to letting to tenants with pets. Of course we aren’t suggesting that you allow tenants to open up a zoo in your property and whether it’s a good idea of course depends on your property and the type of pet that the tenants have. There’s a big difference between an Alsatian and a Pug and you would need to consider the type of pet on a case by case basis rather than have a blanket yes or no but in our experience it is definitely something worth considering. The top 3 benefits to Landlords are;
On average tenants with pets generally stay in a property for longer than those without pets. This is because renting with pets can be difficult with many Landlords not allowing pets so it is a lot more difficult for pet owners to find somewhere. Once they do they are then a lot less likely to want to move which is great news for Landlords looking for long term tenants.
When you rent to tenants with pets you would always look to seek extra protection. At AKS Residential as standard we always collect at least an additional £100 on top of the standard deposit and also insert a clause within the agreement that the tenants must get the property and carpets professionally cleaned at the end of the tenancy. This ensures that the property is returned in a good clean condition and of course the tenants would be liable for any damage their pets had caused in the same way as if they had caused it themselves.
Many tenants have pets but at any one time probably around 75% of the properties on the rental market will not allow pets. This means there is a huge market for the minority of properties allowing pets with far more tenants looking then there are properties available. From a Landlords perspective this results in being able to afford to be extremely selective in your choice of tenant whilst minimising any void periods and can also mean being able to charge a premium rent.
CLICK HERE TO READ 5 THINGS TO DO BEFORE BUYING YOUR FIRST BUY TO LET PROPERTY.