Pets are becoming increasingly popular among UK households, and pet-friendly rental properties are in high demand.
According to government and pet charity figures, over 50% of UK properties now house a pet.
Additionally, during the pandemic, while households were on furlough or working from home, 3.2 million pets were purchased.
This surge in pet ownership has resulted in a rise in searches for landlords who accept dogs and cats, which has gone up by 120% in the past year alone.
As a landlord, it may be worthwhile to consider allowing pets in your rental properties.
Doing so would enable you to attract a wider range of tenants and potentially even charge above-average rent rates.
Furthermore, tenants with pets tend to stay longer in properties that allow pets, meaning a stable tenancy for landlords.
Despite these benefits, many landlords are still hesitant to allow pets on their properties because they are concerned about potential property damage.
Fortunately, new moves have been made to allay these fears. For example, the Tenant Fees Act has been amended to include pet insurance as a "permitted payment."
This means that landlords can require tenants to carry insurance against damage to the property and furnishings owned by the landlord.
To further minimise risks, landlords should screen prospective tenants who own pets.
This could include checking if the pets are microchipped, regularly vaccinated, treated for fleas and worms, and litter-trained (in the case of cats). For exotic pets, landlords should ensure that the tenants have the necessary license from the local council.
An inventory can be another useful tool for minimizing risks.
By providing a detailed inventory that lists the existing condition of walls, doors, window hangings, floor coverings, and furniture and backing it up with photographic evidence, landlords can avoid disputes if it seems that an animal has caused damage.
At Fraser & Co, a London-based estate agency specializing in high-quality rental properties, we have the know-how to help landlords get the most from their properties, including those that are pet-friendly. Our expert team can provide guidance on tenant screening, inventory checklists, and other risk-mitigating measures.
Whether you're a landlord looking to attract pet-owning tenants or a tenant searching for a pet-friendly rental property in London, Fraser & Co can help you find the best match for your needs.
Click here to contact our Property management department
Sources:
www.hub.rightmove.co.uk/demand-for-pet-friendly-homes
www.rspca.org.uk/local/oxfordshire-brach/latest/detail?newsTitle-pets-in-rented-housing
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