Pets in Rental Properties: Celebrating International Cat Day
Cats, with their affectionate nature and independent personalities, make wonderful companions, bringing comfort and reducing stress for their owners. On International Cat Day, The Lettings Hub shares our top reasons why allowing renters the right to request a pet move with them into their rental home, as proposed in the Renters Reform Bill, can be positive news for everyone.
More tenants to choose from
By embracing pet-friendly policies, landlords will be opening the doors to a greater pool of prospective tenants. According to recent statistics, approximately 40% of UK households own a pet, highlighting the significance of pets in people’s lives. Therefore, making your property pet-friendly can attract responsible and reliable tenants who may have limited alternative housing options.
Longer tenancies and shorter voids
If tenants with pets often face barriers in finding suitable rental properties that will allow their furry companion to move in with them, then you could attract responsible pet owners who are more likely to stay put for an extended period, leading to reduced turnover and fewer voids.
According to pet ownership statistics in the UK 18% of households own at least one cat!
With the growing demand for pet-friendly properties, landlords could consider charging a premium for pet-inclusive rentals. Tenants with pets may be willing to pay higher rents for the privilege of living with their beloved companions and as a result, allowing pets can lead to increased rental yields and improved cash flow for landlords.
Greater tenant satisfaction
Allowing pets in rental properties can significantly boost tenant satisfaction and foster positive landlord-tenant relationships. Recent studies have shown that pet ownership is particularly high among young adults aged 16 to 34 years, who often comprise a significant portion of the rental market. Plus, happy tenants are more likely to take better care of the property, leading to reduced maintenance costs.
How to spot a responsible pet owner
- Is the four-legged friend registered with a vet?
- Has the tenant invested in an anti-flea subscription?
- Is the pet vaccinated?
- Does a dog-owners have a regular dog walker for when they are out at work?
- Do they have a pet-cam to keep an eye on their animals?
What may the Renters Reform Bill bring?
The Renters Reform Bill aims to modernise the renting process, and when enacted will result in significant changes for the private rental sector.
The proposals in the act range from offering tenants more secure tenancies and a ban on so called no-fault evictions. One important aspect of the bill addresses pets in rental properties as previously, many landlords have declined requests to have a pet, due to concerns about potential damage, allergies, and increased wear and tear. However, under the new legislation existing tenants will be able to ask permission to have a pet, and the landlord must consider all reasonable requests; with the stipulation that the tenant needs to arrange specialist insurance to cover any damage.
It’s not yet been announced precisely how the insurance arrangement will work, but you can be assured that The Lettings Hub is already working on a range of solutions which will ensure that those tenants who do keep a pet, do so without any risk to your landlords.