Canadians love their pets. There are a large number of pet owners that rent apartments, condos and houses. However, many landlords are reluctant to allow these pet owning families as tenants on their property, for fear of having the pets spoil their property.
Here are some good reasons that you as a landlord, may want to consider tenants with pets:
You can get more rent: Properties that allow pets can often charge more in rent than those that don’t, simply because the large pool of prospective tenants with pets have few accommodation choices.
Better vacancy rates: Being pet friendly may mean you find tenants quicker. If long vacancy periods are common in your area, a pet-friendly approach might give you a competitive edge and secure a tenant sooner. Otherwise not allowing pets could actually cost you more.
Higher tenant retention: Tenants who rent with pets, tend to stay longer as they are aware that their renting options are somewhat limited.
So if you do allow pets on your property, you can protect yourself by doing the following:
- Get references from previous landlords that the tenant was renting from. Specifically ask pet related questions.
- In the agreement, ensure that the tenant has to have the property professionally cleaned every 6 months or at the end of the lease, depending on how you feel about the pet.
- Increase the amount of the pet deposit to cover a thorough cleaning of your home once the tenant vacates.
- Put a clause into the agreement that allows an initial 3 month inspection. If the state of your property is not acceptable then the pet has to go.
So if you are a landlord that allows pets, you can find yourself at a competitive advantage. And because pet owners often have a hard time finding a place to rent, they tend to stay put and be very loyal, making great tenants.
Virani Rentals offers a collection of homes, apartments, townhouses and penthouses for rent. We are industry leaders in the Vancouver Real Estate market therefore you have the comfort of knowing that you are getting good value for your dollar when renting from us.
Complete and submit this form or call 604-695-1000. Our Property Rental Specialist will contact you shortly.