Pet Premiums in Rental Properties
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Rise in Dog Owning Tenants According to a London letting specialist, EJ Harris, a huge rise in the number of tenants looking for a property where dogs are welcome has led to a corresponding rise in price premiums on deposits for such properties.
Ten years ago, there were no enquiries from tenants with a dog, but this year 30 per cent of all prospective tenants have a dog in tow. Unfortunately there are not enough central London properties where dogs are welcome – 40% of all prime flats in central London have “no dogs” written into the head lease. The landlords who do allow pets are now commanding huge deposits to cover any unforeseen damage during the tenancy.
Cleaning Payments For example, on a two bed flat in central London costing £1,000 per week, a dog-free tenant would have to pay a £5,000 deposit whereas a tenant with a dog would be charged £10,000. Many landlords also write a cleaning clause into the tenancy, which requires the tenant to make a non-refundable payment (as well as their deposit) towards the cost of a professional cleaning contractor at the end of a tenancy,