For decades, the standard attitude has been that dogs don’t belong in rental properties because they’re too likely to chew holes through carpets or gnaw at doors. That was true, but you’ll also pay a financial cost by including a blanket ‘no pets allowed’ rule in your tenancy agreement.
Void period: the biggest killer of any landlord’s bottom line is when a property stands empty. Not only do you not have anyone paying rent, but you’re usually paying marketing fees to find someone who will, plus agents’ commissions and the occasional month of council tax on an otherwise empty shell. While it’s true that a pet can sometimes increase wear and tear, the flipside is often a more conscientious and long-term tenant, which can make a huge difference to the financial viability of your investment. If you exclude all pet owners, as many landlords still do, you’re immediately taking yourself out of the running for at least half the renter pool – half of all renters in the UK either own a cat or dog already or would like to in the future.
It’s important to note that nothing will ever go back to the way it was. After the passing of the Renters’ Rights Act, the balance between landlord and tenant has changed. This law has given tenants a statutory right to request that they be allowed to bring their pets into their rented homes. As such, if a pet owner makes a reasonable request, it must be considered unless there’s a sound, justifiable reason not to permit it. For Cheltenham Letting Agents, visit www.meandyouestateagents.co.uk/lettings/
In other words, it’s now possible for you to say no to the family Labrador – but you’ll need to show why this decision is fair and logical, given the specifics of the property and your concerns about its condition. If you believe that the risk outweighs the benefit, consider the following steps instead of outright saying no to pets:
Ask for more details on the animal, such as references from previous landlords and a medical history.
Take detailed inventories, ensuring that there are plenty of photographic check-in and check-out reports when any pet is present.
If the law still allows for it, ask them to take out a Pet Insurance plan that covers damage to your property.
These aren’t so much ‘saying no’ as ‘yes, but’.
Your property might be just a house, but to a tenant looking for a place to rest, settle down, and grow, it’s so much more than that – especially if they’re considering starting a family. This has become increasingly true in a competitive market. No doubt, bringing a pet into your property introduces some level of risk. However, by using all the tools at your disposal, there are ways to control and manage that risk to ensure that your investment continues to perform in the coming years.
