Bringing Landlords & Pet Owners Closer Together
As a landlord, dog owner and founder of Pets Lets, I see both sides of the ‘issue’ of renting with pets in the UK.
Pets are part of the family and rentals/ buy to let properties are investments. For many a rental property is their pension.
We talk to agents and landlords daily. Before that I was a London search agent & estate agent for over 25 years.
When it comes to pets & property, we are best placed to figure out how to find a compromise between pet owners & landlords.
Important facts for landlords to consider:
– 50% of the UK population owns a pet. Not a niche market.
– UK pet owners spend over £3 billion on pet food per year. Click here to see the latest UK pet trends https://petkeen.com/pet-industry-statistics-trends-uk/
– Pets are people’s ‘children’.
– In UK, millennials are the generation with the highest pet ownership percentage, followed by Baby Boomers, Gen X and Gen Z. Key tenant target markets.
– Only 10% of private landlords accept pets.
– Corporates like John Lewis, Legal & General are diversifying and investing in build to rents. They will be the main competitors toprivate landlords.
– People with pets rent longer. They value their home.
– According to Hot Tub Breakaway 27,000/mo search for dog friendly cottages
Issues landlords have with pet friendly rentals:
– The main points are damage, noise such as barking, allergies and hygiene.
– How responsible is the dog or cat owner.
– How many hours a day will the dog be left alone.
– The property is not set up for a dog or is too small.
– A property is an investment/ pension; prefer minimal damage. A dog or cat is risky.
– Had a bad experience or know someone who has.
External factors affecting landlords:
– Changing legislation with increased costs
– Inability to offset a mortgage against tax.
– Even though rents have been increasing, what happens when you have to re-mortgage. Interest rates have increased and may continue to do so.
– General uncertainty and falling rental returns.
– The feeling of constant pressure.
– Some landlords making a monthly loss or about breaking even.
Issues pet owners have with agents and landlords:
– Both agents and landlords say a ‘flat’ no to pets.
– Look at tenants with pets on a case-by-case basis.
– Many agents don’t ask a landlord if they will consider a pet for fear of losing the instruction.
What are the possible solutions?:
– Amendments to the ‘constraints’ of The 2019 Tenant Fees Act:
- Allow a landlord to ask a tenant for pet insurance to cover any damage.
- Increase the 5-week deposit cap for pet owners, to cover any potential damage.
- Allow landlords to ask for a professional deep clean.
– Management companies to be more flexible and remove no pets’ clauses in blocks,
– Why not ‘try’ renting to a person with a small dog or a house cat? Have a 6 month or 1 year break clause in case.
– Dogs go on training courses; people working more from home. Dogs and cats sleep a lot. Ask to see a Pet CV/ some pictures of the pet(s).
Summary:
- Pets bring joy to millions of households, are positive for mental health and are part of the
family. - It is harder to get on the ‘property ladder’. Younger generations have to rent. A large
proportion of them have pets.
If you are a landlord looking for advice on renting to tenants with pets, please email us info@petslets.com. We will entertain all sensible and polite emails.
This article was written by Russell Hunt, Founder of Pets Lets, a landlord and a dog owner.
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