It’s estimated that 43% of the UK population owns a pet. And yet most rentals explicitly state that pets aren’t allowed. Pet owners struggle to find privately rented accommodation that will accept them and their pets. All too often they are forced to live in unsuitable properties, or end up keeping their pets without consent from the landlord. In some cases they face having to give up their pets or becoming homeless.
Accepting pets into your rental property comes with risk. Many landlords are afraid of damage and smells that might result of having a pet in the house. But opening up your property to tenants with pets could maximise its rental potential, and by excluding pet owners you are missing out on a large chunk of the market. Pet-friendly properties are in demand, and tenants tend to stay longer as they find it so hard to find suitable accommodation. Responsible pet owners aren’t likely to do anything to jeopardize their tenancy either.
A new insurance product has just been launched by Endsleigh in collaboration with Dogs Trust and their Lets with Pets campaign. Designed to offer landlords peace of mind, it includes pet damage cover in the policy as standard. In a recent survey by Dogs Trust, 88% of landlords said they would rent to pet owners if there was suitable cover available to cover any damage the pet might cause. This new product might be just what they are looking for. The policy covers accidental pet damage, 120 days unoccupancy, theft and malicious damage by tenants, £2m owner’s liability insurance and landlords contents insurance.
|To find out more insurance cover for tenants with pets and to get a quote visit http://www.endsleigh.co.uk/letswithpets
For more information on insurance options for landlords and what you should be looking for in a landlord’s insurance policy, visit our landlord information section.