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Landlords Missing Out On Long Term Ruffenue


 
PRLog - Aug. 20, 2014 - LANDLORDS THAT EXCLUDE PET OWNERS from their rental property risk overlooking quality tenants.

Lets Rent, an online letting agency, recently found that landlords who advertise their property allowing pets get a 14% better response rate from tenants than those that choose to exclude pets. Once more, the survey found that tenants with pets were 37% more likely to renew their rental agreement.

This is was presumed that allowing pets opens properties up to a larger audience. A study by Dogs Trust found that 78% of pet owners had experienced difficulties finding privately rented properties that allowed pets, so accommodating for these people will naturally gain more enquiries.

Pet owners face difficulty finding a property they can call home, so when they do find a property that allows pets, they are more likely to stick around, meaning less vacant periods and reduced tenant find fees for the landlord, and thus increasing their return on investment.

A PFMA (Pet Food Manufacturer Association) survey revealed that 46% of households own pets. In today’s increasingly difficult economy, renting is on the rise and people are also renting for a longer period of time, which means more people with pets.

Landlords who indicated that they wouldn’t consider letting to pet owners cited property damage as their main concern (63%), but also smell to the property (13%) and noise disturbances to neighbours (11%) were also of concern.

Oliver Fitzpatrick, director of Lets Rent, commented: ‘Property damage is clearly a concern for landlords, and understandably so. However, if you do a full reference check with the previous landlords, they will be able to tell you whether any damage to the property was caused. Also, landlords may want to take a proactive approach and meet the pet in question to observe how the pet behaves. With these things in mind, you may find yourself with a good tenant who stays in the property for a longer-term’.

ENDS

For more information please visit www.lets-rent.co.uk, or call 0330 223 1646 to chat with a member of the team.

NOTES TO EDITOR

·         Figures from http://www.pfma.org.uk/pet-population-2014/

·         Survey based on 572 landlord responses

·         Lets Rent is a free online letting service which aims to make property letting easy and simple. We achieved crowdfunding investment early 2014 from CrowdCube, and have been growing our operations ever since

Media Contact
Lets Rent
hello@lets-rent.co.uk

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Source:Lets Rent
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Industry:Property, Real Estate
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