Would you pay more to live with your pet?

Would you pay more to live with your pet?

Pet friendly rentals have long been in demand, because so many landlords refuse to let their tenants keep their furry friends with them. While many renters may want a pet - are people actually willing to pay for a pet friendly rental…


Pet friendly rentals have long been in demand, because so many landlords refuse to let their tenants keep their furry friends with them. While many renters may want a pet - are people actually willing to pay for a pet friendly rental…

They do say that a dog is a man’s best friend… but would you really be willing to pay more every month to keep a dog, cat or caterpillar in your rental home? Recent research has revealed that in fact tenants are more willing to pay an average of £24 more a month to live with their pet - a pretty considerable amount!

The survey, which was conducted by Your Move, found that almost a third (28%) of tenants would pay more for their rent if it meant they could move in with a furry pal.

It suggests that younger renters are the most likely to spend the extra cash - with 31% of 18 – 35 year olds happy to pay more for their pet, in comparison to only 22% of those ages 55 and over.

In the UK, 40% of people now own a pet, and this research shows that being able to live with a pet is clearly a huge incentive for many tenants. Maybe it’s time more landlords start offering pet friendly tenancy agreements to tap into a large chunk of the market clearly willing to pay more for the luxury?

As the private rental sector continues to grow year on year, it’s estimated that over a quarter of households will be privately rented by 2025. Peoples priorities are shifting, and it’s very likely that fewer people are viewing rental properties as a means to an end. Tenants are looking to secure longer term rentals, as opposed to the short 1-2 year contracts that have been more common in the past.

This is great for landlords, as longer term tenancies are easier to manage and save money on maintenance and admin fees for the landlord. If more landlords want to encourage their tenants to stay for longer, maybe they should consider allowing pets. With more residential property developers considering pet friendly dwellings, featuring community gardens and pet-suitable balconies, maybe renters will be able to embrace living with their furballs in coming years.

Would you pay more for a pet friendly rental? Comment below to let us know!

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