Whether to allow pets inside your investment property can be a tricky decision to make.
Yes, pets can be messy. But the fact is, hundreds of thousands of Australians like to share their home with a pooch, parrot or cat – so refusing to allow a tenant to keep a pet could exclude a huge market from your rental property.
Interestingly, the decision may soon be taken out of your hands, according to reports:
“The blanket bans on pets in apartments, units, and townhouses could soon come to an end with the recent landmark determination from the Victorian Civil and Administrative Tribunal (VCAT).
VCAT ruled against the owners corporation of an Eaglemont townhouse after it banished a four-year-old cavoodle, Hamish, owned by Melbourne renter Madison Brewster, despite getting a consent from landlord and property owner Greg Watkins.”
Read the full story here.
Pets in your investment property may soon be the norm!
If you do have a tenant who requests to keep a pet, here are my tips:
- Request an extra ‘pet bond’ to help deal with the cleanup after they vacate.
- Ensure your landlords insurance policy covers pet damage.
- Make sure your property manager knows about the pet/(s) and is on top of regular inspections, so any potential issues are picked up as soon as possible.
- Keep an open communication line: in the event that the pet becomes a nuisance to the neighbours (for instance, if it barks all day while the tenant is at work), you need to be able to negotiate a solution calmly.