There are benefits in allowing pets in a rental
One of the biggest questions many rental owners have involves whether or not they should allow pets in their rental, and it’s a natural concern when it comes to an investment property which is a major asset.
However, the rules around pets in rentals have recently changed in a number of states, with owners in some states and territories now required to provide specific reasons why a pet might not be allowed.
Meanwhile, there are benefits to having a ‘pets welcome’ policy in your rental property, including having a greater pool of prospective renters who could be more likely to stay long-term.
For some rental owners this has prompted concern about the impact a potential pet may have on their investment, but it’s important to appreciate there could be benefits to allowing pets in your rental.
With a rental crisis currently occurring that means there’s a good chance the renters considering your property are desperately seeking a home that will not just accommodate them, but will also welcome their four-legged friends. The benefits of a pets-welcome policy: If your home is suited to having pets, there are benefits to making them welcome in a rental.
A wider pool of potential renters – Rental owners who allow pets in their property and advertise this often find themselves with a greater number of rental applicants to choose from.
Longer rental agreements – Pet owners know a rental property that welcomes pets can be hard to come by, so are often willing to sign a longer rental agreement.
Higher rental price – If a property is sought after, it’s likely to command a slightly higher price, and many pet owners are willing to pay for the privilege of having a home that accommodates pets.
Faster rental – As they’re sought after, properties which welcome pets often rent quickly, ensuring there is minimal downtime and income lost between rental agreements.
Committed and responsible – One unexpected benefit of welcoming pets into your rental is that pet ownership comes with similar responsibilities to maintaining and looking after a rental property. After all, owning a pet takes commitment consideration and the ability to look after a living being.
If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or email@example.com.
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