It’s the smallest room you’ll ever see but it will make your property rent in a flash and your tenants will love you! But, what is it?
Blogger: Paul Eslick, Justin Eslick & Geoff Doidge, The Reno Kings
Answer: It’s a Dog Kennel!
Geoff Doidge has a place with a kennel and it rents like crazy. If you’re happy for tenants to have pets, you’ll have happy tenants – some huge percentage of Aussies have a dog, and almost as many have cats. If your place makes it easy, safe and welcoming for tenants to keep their family pets with them, it will stand out from other rental options.
Make a kennel as a project if you’re really keen, or get one from an online auction – really great ones go all the time for cheap prices. Clean it up, make it watertight, paint or varnish it, and you’re done. So getting a kennel is inexpensive, and although it may or may not raise the rent, depending on the property and current rent, it will keep good tenants happy and there for a good length of tenancy.
Similarly, Geoff was once asked by a lady tenant whether she could install a cat door. Geoff agreed, so she did – and she stayed for three years. And when she did eventually more, who should move in? Somebody with a cat!
Do get a pet reference from a prospective tenant’s previous landlord if you plan to go down this path, as you need to make sure the particular pet will suit your property and you’ll need to come to an agreement (in writing) with the tenant as to what is and isn’t allowed as far as the pet goes i.e. indoor/outdoor, flea treatments, inspections, carpet cleaning etc.
Renting to pet owners could be considered a niche rental market, so it’s worth doing your homework and making it work well for you as a landlord.
If your property is fenced and safe and welcoming for pets, you can feasibly ask for and expect to get a slightly higher rent for renting to tenants with pets.
So, go and get that cat door installed and the dog kennel in the garden and you’ll have done a couple of good 30 minute reno projects to make your investment property stand out from others!
About The Reno Kings
The Reno Kings have been successful in property for over 35 years – and it hasn’t been by taking risks! And for 12 years now they’ve been showing people from all over Australia how to buy exceptional property deals, cleverly add tremendous value to residential properties through cosmetic renovation and development and to safely and successfully create wealth by building a property portfolio.
Justin has been teaching alongside Geoff and Paul for the past 5 years and his town planning and professional buying skills are so very powerful that they won’t touch a property without Justin first giving it the ‘go-ahead’. Others have come and gone, but the Reno Kings have always been there, powering along, using their safe and secure formulas to build up $40million worth of property.
Thriving – not just surviving – through 35 odd years of property cycles proves that what they’re doing is right! And that’s why they get so many questions from property investors and why the media always go to them for help on property and renovation stories. The Reno Kings are the trusted name in property education.