Over a Quarter of Tenants Are Willing to Pay More Rent to Live With Pet

Photo by Stephen Bowler/Flickr

A survey has discovered that over a quarter of tenants would be willing to pay more rent in order to live with a pet.

28 percent of the private rental sector tenants are willing to pay extra, at an average of £24 per month.

Women were more inclined to say that they would pay more than men, with almost a third (31%) saying that they would pay extra fees just to live with their pet in their rented property, compared with the 23% of men.

The research among over 3,200 people across Britain was conducted by the LSL Corporate Client Department, a sister company of Your Move and Reeds Rains, an estate and letting agency network.

By comparison, the survey discovered that only 4% of tenants would pay additional fees for bike storage, with those who would pay more prepared to pay £11 typically.

Tenants who are younger were discovered to be particularly eager to pay extra if it meant that they could live with a pet, with 31% of those who are 18 to 35-year-olds saying that they would be happy to pay additional rent, at an average of £25.55 more per month.

Meanwhile, 22% of those who are aged 55 and over would pay extra to live with their pet, and are prepared to pay £19 more of their usual monthly rental payment.

The national lettings director at Your Move and Reeds Rains, Martyn Alderton, said that landlords could consider offering “pet-friendly” tenancy agreements in order to avoid missing out on a huge chunk of the market.

Alderton stated: “Our research clearly shows that being able to live with a pet is a huge incentive for some tenants.”

He said: “For example, landlords could request a slightly higher deposit, six weeks instead of four, to protect the property; or as this research shows, could consider increasing the monthly rent slightly to cover the cost of any pet-related damage.”

The head of public affairs at the RSPCA, David Bowles, stated: “Pets are part of our families and, as well as being wonderful companions, they also bring us many benefits for our health and general well-being.

“We encourage landlords to allow tenants to take pets into homes as this allows the opportunity for more rescue pets from charities such as the RSPCA to find loving new homes.

“Sadly it can cause a lot of distress and upset when families aren’t able to take their pet with them when they move to a new property, and charities such as the RSPCA can be left to pick up the pieces.

“We have produced booklets for housing agencies and landlords giving them useful and practical advice if they need it.”