The United ‘Animal’ Kingdom

It’s no surprise that pet ownership exploded in the UK during the pandemic. After all, having an animal around can be good for your mental health, and provides relief from staring at four walls and a screen all day.

In the UK, 17 million households collectively own over 12 million dogs and 12 million cats. To put that in context, that would be 3 furry friends for every person in Hong Kong.

The pet industry has been booming, with the pet products retailer Pets at Home posting over GBP 1 billion in annual sales to March 2021. Even pet kidnappings are on the rise, prompting ministers to make pet abduction into a criminal offense (it’s been treated as a loss of owner’s property so far).

But Fluffy getting abducted is not the only worry that comes with being a pet owner. It also becomes much more difficult to rent a property, too.

UK households have a 59% pet ownership rate, but only 7% of private landlords advertise their properties as ‘pet friendly’. This often leaves a gap of disappointment for pet owning renters who find a great property but have to continue their search because their beloved pet is not welcome.

Landlords are potentially missing out on extra cash flow, too. Although asking for a pet deposit is no longer allowed in England (it still is in Scotland and Wales), landlords can ask for ‘pet rent’ from the tenants.

Pet friendly = Profit friendly?

If you currently own a property in the UK and you’re having trouble finding a tenant, an easy way to differentiate your property is to actively advertise it as being ‘pet friendly’.

Regardless of whether there is a pet or not, the property generally has to be returned in the condition it was rented in anyway, minus the wear-and-tear. So as long as you have a tenant with good references, you don’t have very much to lose!