New research has revealed only one in five first-time property investors intend to lease their properties to tenants with pets.
Mortgage Choice’s 2013 First Time Property Investors Survey found that 24 per cent of 1,019 respondents who planned to buy in the next two years would allow tenants with pets to live in their investment property.
South Australians were most likely to allow pets in their rental properties (25 per cent), followed by Victorians (24 per cent), New South Wales (23 per cent), Queensland (23 per cent) and Western Australia (22 per cent).
Mortgage Choice general manager of group marketing and communication, Melissa McCarney said property owners could attract more tenants if they were happy to rent to people with pets.
“Interestingly, of those respondents who will allow pets, 15 per cent were looking to purchase a small apartment as their first investment property,” she said.
“Renters should be mindful that while a landlord may be accepting of pets, whether or not they are allowed in a property will ultimately depend on how the property is managed as, for example, a strata group could rule that pets are not allowed to live in a property.”
Mortgage Choice customer and first time property investor Fabio De Castro said while investor preferences varied, allowing pets in his investment property was an easy choice.
”I myself am a pet owner so I understand the connection that someone can form with an animal and how difficult it can often be to find a place to rent that will allow pets,” said Mr De Castro.
“Given that not many landlords offer pet-friendly properties, I have the advantage of reaching a broader demographic of tenants, which is especially important in the family orientated neighbourhood that my investment property is located.
“By allowing pets, my property is more likely to attract longer-term tenants as the property will feel more ‘homely’ where a pet is permitted. I also find pet owners are often very reliable as they are used to the responsibility of looking after their pet and this trait bodes well for the landlord.”