LJ Hooker

A Seasoned Property Investor’s Guide to Maximise Returns p. 31 The Benefits of Allowing Pets in Your Rental Property 05 Pets or no pets? Have you considered allowing pets in your rental property? Australia has one of the highest rates of pet ownership in the world, with about 62% of Australian households owning pets according to the RSPCA and many of these pet owners are renters. The majority of landlords are reluctant to allow pets, therefore if you’re prepared to, you will likely gain a competitive advantage. Pet-friendly rentals are highly coveted and will attract many more tenants into your tenant pool. A larger tenant pool means faster letting and lower vacancies, plus due to the rarity of pet friendly properties, tenants are often willing to pay more if they bring their pets. Pet-friendly properties are also hard to find and, in many cases, pet owners will sign longer leases which will ensure you have reliable long term rental income, stable tenants, reduced vacancy rates, and reduced advertising costs for re-letting your property. What type of pets should you allow? Determine what type of pet is appropriate for every rental property you own. If you only have a small courtyard, then a cat might have to be the limit. If there is a large garden but no fence, a dog might be an issue. As a landlord you retain complete control over what animals are allowed to live at your property.