Help is at hand for the many Kiwi landlords who have historically been put off by the idea of allowing pets in their rentals viewing them as a damage risk to their properties.

 New rules, described as  ‘purrfect and pawsitive’ by the government have come into effect this month which provide balance, reassure landlords they will be fairly compensated for any damage and give pet-loving tenants stronger rights and access to a wider range of rentals.

 With competition strong for stable, high quality reliable tenants, offering a pet-friendly rental widens the pool of potential rental candidates for landlords. And property owners who welcome pets often find that pet owners are more settled and tend to stay longer, reducing turnover, vacancy rates and providing more consistent rental income. It is a win-win situation as long as new residential tenancies regulations which came into effect this month are carefully followed.

 What are the changes and what do they entail?

• Pet bonds for fairness and protection have been introduced allowing property owners to request an additional bond of up to two weeks’ rent to cover any pet-related damage beyond normal wear and tear. This change provides a fair way to protect property owners’ investments while encouraging them to welcome tenants with pets.
• Tenants who wish to keep a pet must obtain written consent from the landlord who can only refuse on reasonable grounds, such as the property’s suitability or concerns about the pet’s breed or behaviour.
• Tenants are also fully liable for any pet-related damage beyond normal wear and tear, encouraging a shared responsibility in maintaining the property.

 How property owners can embrace these changes and reap the rewards

• Choose sensible and durable pet-friendly materials when renovating and maintaining your rental property. Look for scratch-resistant flooring covering options and wall paint which is easy to clean.
• Secure your outdoor spaces by ensuring hole-proof fencing and gates are in place and fence off areas you want pets to stay out of. It is important make your expectations around this clear.
• Be open to the idea of adding pet-friendly features like pet doors.

 In today’s competitive rental environment, the key to being a being great landlord and running a smooth rental business is finding that sweet spot where the interests of tenants are cared for in a way that benefits them and also profits you as an asset owner seeking attractive long-term returns.

 Whether you want to rent, buy or sell a property, don’t hesitate to contact your local Raine & Horne office.