Missed Opportunity? Why Saying ‘Yes’ to Pets Can Boost Your Investment Returns
With 69% of Australian households now sharing their homes with pets, it’s clear that pets aren’t just a passing trend; they’re part of the family for many Aussies.
From dogs (38%) to cats (29%) and everything in between, pet ownership here is as high as it gets globally.
In fact, we Australians even surpass Americans, with our pet ownership at the top of the global leaderboard.
For investors, this cultural shift signals an opportunity to open up their properties to pet-friendly tenants.
Now, here’s an interesting stat: Australians live with more cats and dogs than children.
This tells us that allowing pets in rental properties isn’t simply a tenant “preference”—it’s an expectation for a large chunk of the rental market.
And yet, around 25% of rental properties in Melbourne, 22% in Sydney and less than 20% of Brisbane rentals are listed as pet friendly, leaving a notable supply gap for those renters eager to house their pets comfortably.
For landlords, this trend is an invitation to step into a relatively untapped market with several obvious benefits.
The reality is that tenants with pets are not only willing to pay more (often 10-20% extra), especially for homes that are pet-friendly, but they also tend to stay put longer.
A secure, fenced yard, for instance, makes a property especially appealing to pet owners, who will often happily pay a premium for such features.
At Metropole Property Management, we have found that pet owners typically stay for around 36 months.
They know pet-friendly rentals are hard to come by and will often aim for a long-term lease to avoid the hassle of frequent moves and the limited pet-friendly options available.
Of course, there’s always some initial concern around allowing pets, but the reality is that pet-owning tenants are often as responsible—if not more so—than tenants without pets.
Our experience has shown that pet owners are often conscientious, respectful, and eager to maintain a positive rental relationship to keep their hard-to-find, pet-friendly home.
Moreover, at Metropole, we include pet clauses in our leases, adding another layer of financial security for landlords.
A well-structured pet agreement can help clarify expectations and provide peace of mind, ensuring any potential issues are covered without disrupting the rental experience.
While inexperienced investors might be wary of opening the door to pets, seasoned property investors recognise that allowing pets can attract quality tenants, command a higher rental premium, and reduce turnover.
