Landlords: It can pay to go pet-friendly

Landlords who make their rental properties pet-friendly are able to widen their pool of potential tenants, keep their properties rented for longer and even maximise their profits, new data has found.

For many Auckland renters, pets are part of the family. With only 14% of landlords making their rentals pet-friendly, demand is high for these properties. Our data and insights show that landlords who make their rental properties pet-friendly are able to maximise profits, keep their properties rented for longer and widen the selection pool of potential tenants.

The potential for higher rental income

Typically, pet-friendly landlords are able to charge more on a weekly basis, due to high demand and competition for these properties. Pet-friendly rentals see on average $20.49 more income per week (a total of $1,065.48 annually) than that of their 'no pets' policy neighbours.

Tenants stay longer

Pet-friendly landlords often enjoy longer tenancies from their renters, even though it means paying higher rent. Tenants with pets have been found to stay on average a further 7 months throughout the Auckland region.

Wider tenant selection pool

Opening up a rental property to pet owners widens the selection pool of potential tenants, giving landlords the best chance at finding the perfect tenants for their property.

Young couple patting their terrier dog on an armchair

How to protect your investment

If you're considering making your rental pet-friendly, here are some tips to help ensure your investment is protected:

Add a pet clause to the Tenancy Agreement

Barfoot & Thompson have a specific clause to add to the Residential Tenancy Agreement, just ask your property manager to arrange this for you.

Take maximum bond

Equivalent to 4 weeks rent, taking the maximum bond helps offset any risk associated with pet-friendly rentals. Be aware that it is unlawful to take any more than the equivalent of 4 weeks rent.

Think about what your rental property can manage

The size of your property will help you decide what sort of pets you should accept. It is beneficial to also consider what fencing your property has, and whether the outdoor area is appropriate for larger pets.

Always reference check

Barfoot & Thompson have a rigorous tenant selection process, which your property manager will complete on your behalf. If the tenant has been allowed pets at a previous rental, your property manager will be able to ask their referee suitable questions around this.

If you'd like to make your rental pet-friendly, get in touch with your property manager for more information and tailored advice.

Need help with your rental property?

Find out more about how we help landlords and the property management services we offer. You can also book a rental appraisal and one of our property managers will be touch.