As a landlord, deciding whether to permit pets in your rental properties is a crucial choice that can impact your rental market. Pets might increase wear and tear, but they can also broaden your tenant base and result in longer tenancies. Here’s how to establish a balanced pet policy that benefits both you and your tenants.
Evaluate the Advantages and Disadvantages
Before making a decision, consider the pros and cons. Allowing pets can make your property more attractive to a larger audience, as many tenants have pets or intend to get them. However, pets can cause damage and might lead to complaints from neighbours, so weigh these factors carefully.
Formulating a Pet-Friendly Policy
If you choose to allow pets, define which types of pets are acceptable. Think about size, breed, and the number of pets allowed. You might also want to include clauses for pet-related damage or request a pet deposit to cover potential repairs. This deposit could be in addition to the standard security deposit.
Pet Meetings
Occasionally, meeting a tenant’s pet can help you decide. This can give you an insight into the pet’s behaviour and how well the tenant manages their pet.
Incorporate a Pet Clause in Your Lease
Clearly state your pet policy in the tenancy agreement. Specify any rules regarding noise, leash requirements, and waste disposal. Clear guidelines help prevent misunderstandings and ensure that both parties are aware of their responsibilities.
Routine Inspections
For properties with pets, consider arranging more frequent inspections to check for damages early and address them before they become serious. This also demonstrates to tenants that you care about the property’s condition, encouraging them to do the same.
By implementing a clear and fair pet policy, you can attract responsible tenants who are looking for a pet-friendly home, while protecting your property and maintaining its value. Remember, a happy tenant with a pet often makes for a long-lasting and profitable tenancy.
