Should you allow pets in your rental property?

Pets provide an interesting dilemma for landlords. As a property owner, it’s a priority to find stable, responsible tenants who are keen for a long lease. These days, pets are becoming a part of the bargain. This month, we look at the reasons why pets in your property can be a good thing.

Tenants with pets are generally more responsible.
Having a pet is a long-term commitment. Pet owners, particularly those with older pets, are generally more responsible and mature; especially if they’ve had experience renting with their pets in the past. They know what to expect and what is expected of them.

Tenants with pets are more settled.
Tenants with pets are more likely to want a longer lease. It’s difficult for renters to find pet friendly properties; so once they’ve found one, they’ll want to stay.

You’re covered by pet deposits.

If you allow pets in your property, you’re within your rights to charge a pet deposit. In most cases any damage a pet will do to your property over the term of a lease will be covered by this payment.

You can attract a greater pool of applicants.
A lot of landlords aren’t willing to have pets in their property. By saying yes to pets, you’re expanding the pool of potential tenants.