Should you allow tenants to keep pets at your rental property?

This is a question that often comes up when a property is to be purchased and subsequently rented out. The answer usually depends on the type of property that you are interested in renting and the tenants that the property is likely to attract.

According to the 2016 census, it has been observed that in Albany that most of the occupied dwellings are standalone houses. Tenants of these rental properties are usually families who require the extra space and rooms to accommodate all of their family members. It is expected that some of the families will have pets. But bear in mind that whilst the property may be advertised as ‘pets considered’ you will still be able to make the final decision on what type of pet is approved.

What kind of property are you interested in?

If you are looking to invest in an apartment or townhouse with two bedrooms or less, it is more likely that the prospective tenants will be professionals or couples who do not require much space.

Such tenants will not usually have pets to accommodate so the issue of pet approval is not such an issue.

If you are inclined towards buying a house with three or more bedrooms, this kind of property will typically appeal families. In a city like Albany, such houses are obviously more in demand as shown by the data. As mentioned earlier, families generally have pets and so you will need to be prepared if you want to tap into this market and secure tenants for your property.

The Benefits of Allowing Pets At Your Rental Property

Offering pet-friendly properties is beneficial in several ways:

  1. Your property will appeal to a wider number of tenants because tenants with pets as well as without pets can both consider it as a potential rental.
  1. There is always a demand of pet-friendly properties in Albany so you can take advantage of this by allowing pets and attracting more tenants. This could be the difference that secures you a good tenant over competing properties.
  1. You will have the opportunity of requesting a higher rent simply because you are offering an extra benefit that is missing in other similar properties.

It is more beneficial to add this facility rather than miss the opportunity of securing tenants. So keep this fact in mind while purchasing a property in Albany.

For further advice more specific to the Albany Rental Market, call us and speak with an experienced Property Manager who can assist you in making this decision.

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