One major difference between a sophisticated landlord and an amateur.
Allowing Pets: When we hear owners say a blanket NO PETS to our property managers our first question often is why? The most common reason given is they do not want a pet destroying their property investment. This is a great reason for not allowing a Doberman in a 1 bedroom apartment or a Labrador into a studio.
However not every pet is a snarling Doberman or muddy Labrador. As a result every case is different and has its own merits. Allowing a pet provides for a number of things:
- Free carpet cleaning – Leases in most states are allowed to enforce the tenants payment for steam cleaning of carpets (non-pet leases cannot)
- Stability of tenants – Pet owners tend to stay longer in properties for stability (the average tenancy with a pet is 3 years)
- Vermin control – Some pets actively assist the owner in keeping vermin at bay (cats are excellent at removing rodent issues at a property)
- You remain insured – We work with insurers that allow pets in a property and in the unlikely event that an issue occurs, the damage is recoverable.
Instead of a blanket “no pets” for your investment, the sophisticated investor works with their property manager on a case by case basis. You have a right as an owner not to allow certain pets, and to allow others. You can determine the type and quantity of pet in your property. So whilst a Labrador may not be suitable, a cat may well be. Your property manager will work with you to assist. As part of our work with our owners we have access to insurers that provide cover for pet damage for landlords.
Simply, the sophisticated landlord does not close themselves off to an opportunity because of a perceived potential issue, but rather allows their property manager to maximise those opportunities presented, in this case guaranteed carpet cleaning and a broader cross section of stable tenants.
