Pet friendly rentals in high demand.
It’s no secret that we are big pet lovers – just look at our insta feed and you’ll see our furry friends star in more pics than is probably necessary! But with so many Australians owning a four legged friend, it’s surprising to find that the majority of rental properties are not pet friendly.
According to Sharon Fox-Slater, managing director of property insurance company RentCover, about 5.7 million households in Australia had at least one pet and in 2015 Roy Morgan Research found that more people lived with a pet than with a child. She says in contrast, only 10 percent of rental properties accept pets.
So why are owners so hesitant to consider furry flatmates?
Tenants who find these hidden pooch friendly gems, jump at the opportunity and are more likely to sign on for longer leases so they don’t risk the difficult process again. Other benefits can be seen in higher rental rates, shorter vacancy periods and a competitive edge in the rental game.
The biggest concern tends to be an apprehension that these extended family members will damage the property, however, Fox-Slater points out that “since introducing pet damage cover in February this year, they’ve received only one claim – which had more to do with an irresponsible owner than a bad pet.”
In our inner-western pocket of Brisbane alone, we see many couples with a small dog or cat who are desperate to find somewhere that will consider their beloved family. With vacancy rates at an all-time high and the vast majority of four legged friends being more well behaved (and spoilt!) than your first born child, perhaps it is time for property owners to reconsider their ‘no pets’ policy?
– Source: Real Estate Business, Josie North Coffee