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Allowing Pets in My Rental Property?
It's definitely worth considering allowing pets in a rental property. While the damage a pet could cause is a valid cause for concern, there are many advantages to accepting pets. We look at the pros and cons.
Greater Tenant Longevity
Finding a property that accepts pets can be challenging. Once tenants have found a home that allows their furry friends, they are likely to stay longer.
Find out more about Retaining Good Tenants
Let Your Property More Quickly
If your property is suitable for a feline or furry friend, consider allowing pets by approval. Rentals that allow pets are relatively scarce, so you are likely to have a higher level of demand for your property. Be clear in your advertising though what sort of pets might be suitable in the property.
Increase Your Pool of Tenants
By allowing pets you are widening your pool of tenants to include those who have pets as well as those who don't.
Rent and Bond Considerations
While you can't charge extra bond for allowing a pet, tenants may be attracted to a property at a higher price point to allow for the convenience of keeping their pet. Remember the maximum bond a landlord can charge is the equivalent of four weeks' rent, and the bond must be lodged with Tenancy Services.
While owners cannot charge any extra bond, tenants are still responsible for any damage other than wear and tear done to the property caused intentionally or carelessly. This includes damage caused by pets.
Find out more about Rent, Tenants and Pets
Consider Which Pets You Will Allow
If you do accept pets, it's a good idea to specify which pets you'll allow. Some properties might be more suitable for cats or smaller-sized dogs. If you’re considering allowing dogs, you should ensure your property is fully fenced.
Ask for a Pet CV
A great idea for potential tenants is to prepare a pet CV. A pet CV can go a long way towards ensuring landlords have peace of mind when renting their property to tenants with pets. Knowing a pet’s breed, age, size and temperament may help to reassure landlords.
Add Conditions into Your Tenancy Agreement
When agreeing to allow pets, any conditions you have must be written into the tenancy agreement. Both the tenant and the landlord should agree on any conditions before the tenancy begins.
What Should I Put in the Tenancy Agreement if Allowing Pets?
If you agree to allow pets, ensure your tenancy agreement states:
- the number of pets you will allow in your property
- the type of pets you will allow
- the process to follow if a tenant wants a new or replacement pet.
Check Your Body Corporate and Cross Lease Rules
There may be restrictions on keeping animals for landlords with unit title or cross lease properties. It's important to check the conditions of your body corporate rules or leases before entering into a tenancy agreement. Even in unit titled properties that are pet friendly are by approval only, so make sure you seek that permission before entering into a lease with your tenant.
Happy Tenants are Long Term Tenants
Happy tenants are likely to be good, long term tenants. There are many factors to consider when leasing your property and allowing pets is just one of these. If you turn down a great tenant because they have a pet you may be denying yourself an excellent, long-term tenant.