Pets are too comfortable in the regulatory debate, and many apartment owners subscribe to the cultural belief that these creatures only spawn disorder and noise.
But as the reproach to pets continues, more change is occurring, collectively motivated by rising living in the apartments, the need for companionship and a new era of solidarity, all defended by the paw. ]
The 2016 report on Australian pet pet ownership in Australia found that 62% of Australian households had a pet. While 38.5% of these favorite dogs and 29.2% of cats, he noted that other species such as reptiles and small mammals were also accustomed to coexist with us. But, according to the report, high-density housing in urban areas, particularly multi-unit dwellings, posed the greatest threat to the possession of pets.
In the face of reluctant landowners who believe that pets could cause considerable damage to their properties, the choice of potential tenant owners is still limited – to the point that they sometimes have to give their pets.
In fact, according to a study conducted by rent.com.au in October 2018, only 2% of rentals in Victoria were then explicitly marketed as pet-friendly, followed by 5% in NSW. Nationally, this is reduced to one in ten rentals.
Catching the tail
With demand for animal-friendly properties being desperately satisfied, could opening your investment gate to our country's furry companions be your next profitable venture?
"Pet-friendly rentals can certainly increase the market pool," says Nicola Parisi, head of property management at Village Property, a real estate and value-oriented real estate management agency.
"In general, it's a good move. Moving with one's time and adapting to modern lifestyles is a great way to increase the number of inquiries and include tenants' requests with pets that a owner would not otherwise have received. "
This trend was closely followed by Emma Power, a senior researcher in geography and urban studies at Western Sydney University. After tracking Australian attitudes towards pets in properties over the last 13 years and led several case studies, Power says that homeowners could benefit from a number of benefits in terms of homeownership. investment they chose to welcome pets.
"A study done in the United States shows that people are willing to spend more on a property that accepts pets. There is anecdotal evidence in Australia in my research that shows that properties that accept pets are more expensive and will pay more for a property if it's friendly, "she says.
Power's research also revealed that owners could experience not only faster turnaround rates, but also increased safety.
Pet owners tend to stay in properties longer than those who do not, which could be due to the "scarcity of pet-friendly properties," compounded by the fact that most households in Australia has pets.
Currently, although pet-friendly properties are less commonplace on the market, they can potentially give homeowners a competitive edge in securing tenants. The real estate agents with whom I spoke also said it was much faster to rent a pet-friendly property because the demand was still high, "says Power.
Power research conducted in February 2013 highlighted the need to find more pet-friendly homes. In fact, only 2.11% of the rental properties in Sydney were open to pets, and 50.8% of the postal codes had no pet-friendly property. and 23.3% had only one.
"There is no indication that it has become easier to rent with a pet. For low-income people, this can be particularly restrictive, "she says.
Power explains that while couples have moved from one apartment to another or from a semi-detached home when they had children, the price rise of the family was higher. Real estate and the demand of buyers have pushed more and more people to live in apartments throughout their lives, even having children.
Nowadays, many people want pets, have grown up with them, or are professionals looking for companionship.
For the market to remain topical, one must dispel misconceptions about pets in apartments – as shown in the 2016 review of stratum regulation, which then relaxed some stricter regulations on animal care, and more. currently on the rise of "urban village" developments that are marketed as pet-friendly.
"Rather than saying" no animals at all ", it is more productive to say" animals are considered ". It's about adapting the animal to the property, and the tenants themselves will usually have a good idea of ​​that, "says Power.
"Very few people would want to live on a property that is not suitable for their pets because they know it will make their pets unhappy and make their lives more difficult."
Playing Well
If you are convinced enough of its benefits to open a property investment in a pet-friendly market, it is important to know if your type of property and its location can accommodate a pet. Also note that not having a house with a large garden will not escape the list.
"A decent size outdoor space is always a benefit, especially if the pet owner is working outside the house all day. The apartments on the ground floor often offer courtyards or small gardens suitable for pets, "says Parisi.
"The nearby parks or dog parks where their dogs can socialize and exercise is also important for pet owners."
Since owners often leave their pets, they spend more time in the common areas of a building than if they did not have pets, creating valuable spaces for interaction. between residents, according to researcher Emma Power.
"Animal owners tell me that when they go home after work and take their dog to the communal gardens, the neighbors often stop to talk with them. when they arrived at home, "says Power, based on case studies.
"So there is an interesting social dynamic, especially around dogs, that can help to reinforce the sense of belonging to a community among people who have pets and those who have pets. company and those who do not have one in their building. "
Manage Potential Complaints
But just as human beings can cause potential wear and tear on a property, we can not help but wonder what a set of claws might do.
"Many insurance policies do not cover damage caused by pets and some have specific limitations. It is therefore important to ensure that damage to property by pets is adequately protected, "said Sharon Fox-Slater, Executive Director. at RentCover EBM, a leading insurance brokerage that has been protecting risk owners in the country for over 25 years.
"Some stratum agreements exclude pets on premises, so it is important that homeowners check all these details before renting their pet-friendly property."
As long as the insurance policy of a good owner is underwritten and that it perfectly covers damage to pets, the risks to an owner are not very different from those related to renting a property to people without animals, says Fox-Slater.
"There is a perception that a tenant with pets will be at a higher risk because the pets will damage the property, but the fact is that most of the claims for rental properties concern unpaid rents and damage caused by the tenants themselves, "she said. said.
"It is very easy to take out an owner's policy with a cover for damage to pets; however, many have sub-limits, so owners are advised to check that they have sufficient coverage, not just a few thousand dollars, "she says.
Emphasizing that risk does not outweigh the financial benefits, allowing pets can be a wise investment, according to Fox-Slater.
If landlords gave up their rents to a pet-friendly market, they would also drive change for a wider cause.
"We have a very high rate of animal abandonment and euthanasia in Australia. Petrestrictive housing contributes to this crisis, so I think homeowners need to be aware of that as well, "says Power.
"For them, it's not just about investment values; it's also about being part of a potential solution to the animal welfare crisis we're seeing in this country. "
