If you're a landlord, you've likely pondered the pet question: To allow or not to allow? It's a significant decision with potential upsides and downsides. At Bond Residential, we're here to help you navigate this decision with a balanced pet policy that works for everyone involved.
Weighing the Pros and Cons
The first step is to assess the potential benefits and drawbacks. Allowing pets can certainly broaden your tenant pool, as many renters have furry friends or plan to get them. However, pets can also cause damage and potentially lead to neighbourly disputes. It's important to consider these factors carefully before making your decision.
Crafting a Pet-Friendly Policy
If you decide to open your doors to pets, it's crucial to clarify which types are acceptable. Size, breed, and the number of pets should all be considered. Including provisions for pet-related damage or requiring a pet deposit can help cover potential repair costs. This deposit would be in addition to the standard security deposit.
Pet Interviews: A Unique Approach
Meeting a prospective tenant's pet can often provide valuable insights into the pet's behaviour and the tenant's ability to manage their pet. This can help inform your decision and ensure a good fit for your property.
Clear Lease Agreements
Your pet policy should be clearly outlined in the tenancy agreement. This should include rules regarding noise, leash requirements, and waste management. Clear guidelines help prevent misunderstandings and ensure both parties understand their responsibilities.
Regular Property Inspections
For properties housing pets, consider scheduling more frequent inspections. This allows you to identify and address any potential damage early on, and demonstrates to tenants that you take the property's condition seriously.
Creating a balanced pet policy can attract responsible, pet-owning tenants while protecting your property and maintaining its value. After all, a happy tenant with a pet often results in a long-lasting and profitable tenancy. And remember, at Bond Residential, we're always here to help guide you through these decisions.
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