Posted on: 27 May 2015
One of the major challenges faced by landlords is deciding how much leeway to give their tenant. Typically, landlords tend to be fairly strict on issues such as pets; however, it's worth giving this issue close attention as giving tenants, similar to those staying at places like Wynn Residential Apartments in Toronto, some freedom in your property can go a long way.
Advantages of Allowing Pets in Your Property
The main advantage of allowing your tenant to have a pet in the property is it will undoubtedly set you apart from other properties. The majority of tenancies available on the market are strictly "no pets allowed"; therefore, by allowing your tenant to have a pet in the property it opens up your lease to this specific type of tenant.
Additionally, due to the difficulty pet owners have in finding a suitable pet-friendly property, they are likely to be exemplary tenants. The reason for this is should you evict them from your property, they may find it extremely difficult to find another landlord as lenient as you. Therefore, they are likely to make every effort possible to show you they are great tenants with respect for your property.
As an add-on to this, allowing pets can ensure you have a long-term tenant who will renew their tenancy when the original lease is up. An empty property leaks money from your wallet, so having a good agreement in place can really secure your profit for a long period of time.
Disadvantages of Allowing Pets in Your Property
While allowing pets can really add some tangible value to potential tenants, it's important not to rush into the agreement without weighing up the pros against the cons.
First, some pets can be destructive and messy, particularly if their owner is negligent towards them. While cats aren't likely to destroy your property from top to bottom, large dogs may have a good go at it if they aren't properly trained. Therefore, it's best to ask your tenant about their current pets or any animals they plan on bringing into the property. Asking your potential tenant to meet their pet prior to signing the agreement may seem slightly totalitarian; however, it can save you major headaches down the line.
The next thing to consider is the proximity of your property to other homes. If you are leasing an apartment, for example, you likely won't want large animals disturbing other homeowners in the same block. Some pets simply aren't suited for apartment living, so it's important to know what type of animal is coming into your property. However, if you are leasing a detached house in the suburbs, you may be able to allow noisier pets in your property.
Finally, you have to consider the financial implications. Typically, a property that has hosted a pet will require a thorough cleaning once the tenant leaves. While the pet may not have destroyed anything, they will have left a noticeable odor on all of the furniture. If they aren't looked after properly, they may also have caught fleas, infesting your property throughout.
Preparing a Pet-friendly Tenancy Agreement
When preparing your tenancy agreement, it's imperative you add in special clauses outlining the tenant's responsibilities. Typically, this will cover the tenant's duties of keeping the property clean, replacing any damaged furniture, and ensuring neighbors aren't disturbed during their day-to-day routine.
Additionally, it may be worth requesting a non-returnable pet payment. This pet payment can be requested to cover the cost of cleaning once the tenant leaves the property. In order to gauge the expected cost of cleaning, consider contacting a professional cleaning company who will be able to outline the typical costs incurred when cleaning a property that previously hosted pets.
While many landlords will immediately refuse pets on their property, going against the grain can help you stand out from the crowd. If you do decide to allow pets in your home, tenants will view you as a great landlord and will likely renew their tenancy agreement when it expires – which is great news for your wallet!Share