25 Oct Demand for Pet Friendly Rentals Soars
Like many of you, we are huge fans of our furry friends and even bring our Spaniel, Alfie into the office to help out with the admin. The Covid-19 pandemic and the subsequent lockdowns left many people feeling lonely, isolated and, some were just bored. This has resulted in a so-called ‘pandemic pet-boom’ which has seen more than a third of UK households becoming pet owners since March 2020.
This is now translating into an important sector of the property market.
If you would like to talk to a member of our expert team about your property options, make sure you give the leading letting agents in Colnbrook a call on 01753 683000 or email us and we’ll help you find your next home.
Pet-friendly homes
A recent study by the online property portal Rightmove saw that the demand for pet-friendly properties increased by 120% in a year – this is a huge chunk of total rental enquiries received by the portal.
This sudden increase in pet owners is likely to indicate in which direction the rental market goes in the future. Owning a pet is a long-term commitment and inevitably impacts any decisions people will make when it comes to living circumstances.
It is becoming very clear that if landlords want to succeed in this extremely competitive market, they will need to consider allowing a well-behaved pet to be included as part of the agreement. This will give them access to a bigger pool of potential tenants and, while clauses can be included in any tenancy agreement to cover damage, the changes might affect some landlord insurance premiums which may have to be reflected in the price of the monthly rent.
Priority requirements
The lockdowns in 2020 made people appreciate outdoor spaces much more than ever before. The exodus out of cities into the commuter belt in the Summer of 2020 was driven by people previously holed up in city apartments looking for more space. This was especially important as many companies switched to a more remote style of working, making living close to the office less of a priority.
Demand for rental properties with a balcony has risen by 70% while demand for properties with a garden has gone up by 39%. According to Rightmove the most searched for keyword for renters was “pet friendly” followed by “garden” and “balcony”.
For Landlords
If you are a landlord and have an enquiry on your property from a pet owner, you might be having mixed feelings about it. After all, your property is a valuable asset and pets can cause damage which is expensive to fix over and above the permitted security deposit amounts.
Pet-owning tenants can be excellent tenants for a landlord. They are less likely to be transient and will be looking for longer-term accommodation, at the moment pet-friendly homes are harder to come by but, getting ahead of the curve could help you secure a reliable and long-term tenant for your property. We recommend that you meet the pet too, it will give you peace of mind to see how it behaves with your own eyes and speak honestly and openly with your tenant.
Contact Us
If you are looking to move to this area, we are the leading independent estate agents in Colnbrook and are location experts. So, contact us on 01753 683000 or email us. You can also follow us on Facebook, LinkedIn, and Instagram.