Landlords who consider only the possible drawbacks of having pets in their investment properties should weigh them against the benefits of offering pet-friendly accommodation, says Lew Geffen Sotheby’s Yael Geffen.
◆Higher rents – Pet-friendly properties usually achieve higher rents.
◆Pet owners are long term – Pet-friendly rentals are hard to come by, so once tenants secure a suitable property they are often inclined to sign a longer lease and/or renew their lease.
The agency’s Lorrain Dellbridge says landlords can protect themselves and their properties against possible damage by:
◆Asking for an additional deposit to cover possible damage.
◆Limiting the number of pets allowed on the property or allowing certain pets.