Just 8% of rental properties are currently advertised as ‘pet friendly’
New insight from Zero Deposit reveals that just 8% of rental properties listed on the current market are pet-friendly, despite further changes to allow pets in rental properties on the horizon via the Renters’ Rights Bill.
In the UK alone, it is estimated that 51% of adults own a pet, but the rental sector has a long history of being far from pet-friendly with only a small proportion of rental properties, estimated at just 8% *, allowing the addition of furry friends. As a result, a huge number of tenants are unable to find a home that will accept them and their pets.
In recent years, the government has taken steps to try and address this issue. First, it revised its model tenancy agreement to encourage the acceptance of ‘well-behaved’ pets, and now the incoming Renters’ Rights Bill is expected to insist that landlords cannot ‘unreasonably’ refuse tenants pets into the home.
Despite this, Zero Deposit’s most recent analysis of live rental listings data* reveals that only 8% of available properties are being marketed as pet-friendly.
Of the 101,908 properties currently on the market, just 7,788 are described as pet-friendly.
On a regional level, tenants with pets in the North East have the best chance of securing a home with 9% of listings currently marketed as pet-friendly.
In London, the South West, South East, and North West pet-friendly properties account for 8% of the market, followed by the East of England (7%), East Midlands (6%), Yorkshire & Humber (6%), and West Midlands (5%).
“There’s a natural reticence for landlords to open their property to pets for fear of the damage they can potentially cause," comments Zero Deposit CEO, Sam Reynolds, "Many will have experienced pet damage to their properties which has shaped this preference. But these landlords are swimming against an increasingly fervent tide.
"The UK government is attempting to satisfy tenant demand for pet-friendly homes and when the Renters’ Rights Bill is finally introduced, landlords will find it increasingly difficult to deselect lets with animal companions,"
He adds, "While public opinion is naturally in favour of improving accessibility for pet owners, landlord concerns do hold weight. Property damage costs money to repair. This spending can be challenging to recoup and can eat into profit margins. And while the Renters’ Rights Bill disallows the blanket banning of pets, it also limits the amount of money landlords are allowed to take from their tenants for security deposits, further exposing landlords to the risk of property damage and, therefore, to loss of income.
"It is possible that the bill will give landlords the right to insist that specific insurance is taken out to protect against pet-related damage, thus providing greater security.”