Looking to attract loyal tenants? Consider making your investment property pet friendly

In Australia, it’s fair to say that we love our pets, with over two-thirds of households now including a furry family member. From 2019 to 2021 pet ownership rates increased significantly, led by a surge in dog ownership during the pandemic, and, as of 2024, the number of households with pets in Australia sits at 69%.

This boom in pet parenting has increased demand for pet-friendly rental properties across the country. While some states have made it easier for tenants to rent with a pet, in many areas, finding a rental that accepts pets can still be challenging.

For property investors, this presents a golden opportunity. Making your investment property pet friendly offers plenty of benefits, including attracting a larger pool of long-term, reliable tenants and even helping to reduce the number of animals surrendered to shelters. This article outlines the advantages of accepting tenants with pets, along with key considerations for accommodating four-legged occupants.

Advantages of pet-friendly rentals

Increased applications & faster lease times

Due to their scarcity, pet-friendly properties usually attract a lot of applications and can rent faster. This gives landlords a larger pool of potential tenants, increasing the chances of finding a suitable occupant and reducing vacancy periods.

Pet owners make loyal, long-term tenants

Pet owners understand the difficulty of finding a suitable home with a pet and generally look for long-term leases to avoid having to find a new place and move frequently.

They’re also more likely to abide by rental rules to avoid risking their housing situation and disrupting themselves – and their pet.

This is a win-win for both parties, as longer leases benefit landlords by reducing advertising and vacancy costs and minimising the hassle of finding new tenants.

Opportunity for increased rent

In areas with high demand for pet-friendly rentals, accommodating tenants with pets could allow you to charge higher rent, particularly if your property is pet-friendly by design (e.g., fully fenced backyard, durable flooring, safe neighbourhood).

Considerations when allowing pets in an investment property

Flooring

If you’re renovating an investment property and plan to make it pet friendly, consider durable and easy-to-clean floor surfaces.

Tiled floors are ideal as they are scratch-resistant and easy to maintain. Floorboards are another good option but may show scratches, while carpeted areas will require professional cleaning and pest treatments upon the tenant vacating.

Outdoor areas

Pet owners value outdoor spaces, particularly if they’re fully fenced.

A cat flap or doggy door giving animals easy access to outdoor areas is a useful addition in properties advertised as pet-friendly, but not essential.

Small properties can also suit pets

It’s not just standard houses on larger blocks that suit pets. Smaller units or townhouses can be perfect for cats or smaller dogs, and less active breeds like greyhounds or basset hounds.

Request a ‘pet resume’

Before accepting fur tenants, you can request to see the animal’s 'pet resume'. This gives an overview of everything you need to know, including details such as the pet’s breed, age, size, vaccination records, temperament, and a reference from a previous landlord or vet.

Check your insurance

If you decide to make your property pet friendly check your landlord’s insurance policy to ensure you are covered for any damage caused by a pet living in the property, and any exclusions or limitations to your coverage.

Add a ‘pet clause’ in the tenancy agreement

To protect your investment property, it’s a good idea to outline the tenant’s responsibilities regarding pet ownership in a tenancy agreement. Common clauses may include:

• Cover any damage caused by the pet.
• Responding to noise complaints about the pet.
• Remove faeces from lawns, gardens and outdoor areas.
• Organising and paying for professional carpet cleaning or pest treatments before vacating the property.

Give yourself options
If you are unsure about allowing a pet or only want certain types of pets on your investment property, advertise the property with a ‘pets considered on application’ policy. 

This allows you to consider a pet on a case-by-case basis without being obligated to accept one.

Making your investment property pet friendly isn’t just a kind gesture, but a strategy to help attract reliable tenants, reduce vacancy periods, and potentially increase rental returns. By considering simple adjustments and clear guidelines, you can create a win-win for tenants and landlords.

Ready to take the next step? Contact your local Hockingstuart office for expert advice on creating a pet-friendly investment property.