In a renter’s market, landlords must find different approaches to minimise vacancy in their properties and to improve rental return.
According to the RSPCA, about 62% of Australian households own pets. There are an estimated more than 24 million pets in Australia. There has been much discussion in the media recently about pet ownership, health benefits and how this all fits with tenants, property owners and their rights and responsibilities.
In a country as pet friendly as Australia, finding a rental property where pets are welcome is a stressful, and often heartbreaking and time consuming experience. It is little wonder then, that in a high rental state like Queensland that there’s a correspondingly high demand for pet friendly accommodation.
In Queensland 39% of households have a dog, 24% have a cat and 12% have both.
As a landlord, you have the option to consider an untapped (and proven) market of potential tenants who are often willing to stay longer than non pet‑owning tenants. Often this is as a result of the difficulty in finding a pet-friendly property.
Pet friendly properties in certain suburbs through Ipswich, Springfield Lakes and Forest Lake can be rare. As a result, they have the potential to lease quicker and, with tenants more likely to stay long‑term, marketing and vacancy costs for a property can be minimised.
Landlords need not feel they lose control by offering a ‘pets considered’ property. Property Managers can advise on pet application and agreement forms that will help to identify responsible pet owning tenants and which clearly detail the expectations of how pets will be managed in the rental premises – helping to put your mind at ease.
Collins Gregory Real Estate supports advertising appropriate properties as ‘pets considered’ to ensure the choice to permit a pet remains with the property owner, while at the same time helping to increase the number of potential quality tenants for consideration.
Assessing a particular pet and their suitability to a property should be a collaborative process between the prospective new tenant, the property owner and the Collins Gregory Real Estate team.
If you are interested in exploring the possibility of considering pets at your investment property, please get in touch. We are happy to provide advise and support you through the process.