There is a moderately untapped market of pet owners looking to rent properties. Forty percent of the households in the UK are pet owners, while only 7% of landlords advertise their property as pet friendly.
Earlier this year, the government has tried to encourage more landlords to be pet friendly, though its plans to remove restrictions on well-behaved pets. This will give tenants more options and a greater chance to keep pets when moving home.
Another opportunity has arisen from the effects of the Covid-19 pandemic. As a large proportion of people are now working from home, more people are opting to get a pet. This has pushed figures to an increase of 109%, for people looking for properties, which allowed pets.
Owing to the shortage of pet friendly rentals, this market has the potential for attracting higher yields.
There are many benefits from being a pet-friendly landlord and these include:
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