One of the biggest questions asked by property owners looking to rent out their property is whether or not to allow tenants to have pets and what the potential impact is of this decision.
Allowing no pets at all will potentially reduce the pool of tenants who will want to rent your property.
On the upside though, having no pets obviously means there will be less wear and tear on the property in terms of damage to the property and potentially, odours in the property.
In our experience, around eight times out of ten the tenant will ask for a pet. It’s a common thing that happens throughout a tenancy.
At the start of a tenancy when being advertised, we always ask owners to consider listing a property as ‘pets upon application’ (this does not mean pets are a definite ‘yes’, it means that each application will be considered on its merits and each pet considered). Ultimately it is the owner’s decision on whether to allow pets.
At Property Zest, we have a pet agreement form that a tenant must use to request permission for a pet to reside at a property. The tenants and also the property manager sign this agreement. This is a safeguard for all parties involved. The tenant signs to say that they understand that should their pets do any damage that they will be held responsible for rectifying this damage in a timely matter.
The benefits of allowing pets is that it will open up your property to a much larger potential tenant pool, possibly decreasing vacancy time. The reality is the most pets and pet owners are not an issue, however, not all pets are created equal! Having a ‘pets on application’ approach coupled with a signed agreement from the tenant is a good step in providing the right to ‘veto’ any pets you do not consider appropriate and safeguarding your investment.