Nottingham is said to have 3% of its rental properties listed as pet-friendly. This seems like a small percentage, but it is enough to see the city listed in the top ten for pet-friendly locations across the United Kingdom.
There are strong arguments for landlords to not allow tenants with pets into their rental property. The damage caused by pets can be costly to repair, and time-consuming. Therefore, it is natural for many landlords to ban pets from their rental property.
However, in a challenging market, it isn’t a surprise to learn many landlords are considering letting in this manner.
Some landlords are considering letting to tenants with pets
A study by a proptech start-up company, Home Made has found that 56% of landlords are considering allowing tenants with pets to stay at their rental property.
The most popular pets with tenants looking for property are:
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Dogs, cited by 60% of tenants looking for property
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Cats, listed by 50% of tenants looking for rental property
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Fish, named by 15% of tenants looking for a rental property
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Small pets, such as hamsters, named by 12% of tenants looking for rental property
The challenges faced by tenants looking for rental property found that 39% of tenants have been unable to rent property because they have a pet.
The main problem for landlords, as cited by 67% of respondents, is the potential damage to their rental property caused by tenants.
Many tenants would pay a premium to let with their pet
52% of tenants said they would be happy to at least a 5% premium on their rent to mitigate the cost of wear and tear. 7% of respondents said they would be willing to pay a premium of at least 10% each month. This is a sum that is likely to entice many landlords as being a worthwhile venture.
CEO and founder of Home Made, Asaf Navot, said; “We’re a nation of pet lovers – even more so following lockdown. But finding a rental property to suit you and your pet or pets can be tough. It is understandable many landlords are concerned about potential damage to their properties as we know that pets can be hard on a home. But there are real upsides to renting to pet owners – they’re often more conscientious tenants and they stay longer.”
Asaf also said; “If you’re a renter with a pet, try getting pet references from previous properties or organise a play date with the landlord so they can get to know your friend. If you’re a landlord concerned about your property, chat to prospective tenants about the additional wear and tear and factor this into tenancy negotiations. You can also spend some time pet proofing the property by removing items like rugs that could be easily damaged.”
Asaf concluded by saying; “No one should have to rehome a pet because of a lack of housing options – and searching for pet-friendly properties needs to be made easier. As a team of animal lovers, we’ve created a ‘pet-friendly property’ search tool on our site so prospective renters can find the perfect place to live.”
We offer property management, property to rent and property for sale in Arnold, Woodthorpe, West Bridgford, Hucknall, Carlton, Wilford, Mapperley and throughout the Nottingham area. If you would like to arrange an appointment to help you negotiate the local buy-to-let market, please contact Holdencopley today by calling us on 01158969800 or emailing steven@holdencopley.co.uk.