Lets with pets, still a long way to go – market study by Lettingweb

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New data from leading letting portal shows sharp rise in enquiries for pet-friendly property

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As the private rental sector continues to take the burden off of home ownership and social housing, Lettingweb had a look at their statistics to see whether tenants with pets had been coming into the market.

The results, taken from enquiries made on the Lettingweb site (the largest marketplace for lettings in Scotland), show a staggering increase in the number of requests for properties that accommodate for pets.

Total enquiries for lets with pets in 2012 were huge; 103% more than just two years previous. Enquiries were also up 213% on 2009 and 235% on 2008.

The percentage of enquiries coming through the site that specifically request a pet has also been steadily increasing for the last 5 years – and in 2012 it was almost 5%, well over double what it was in 2007.

This highlights the real need for pet-friendly offerings from letting agents, an area perhaps overlooked in the past. And Lettingweb’s analysis shows that the supply has not been matching demand, less than 2% of the flats available on the site were listed as pet friendly and almost 5% were specifically not for pets.

Lettingweb’s graph shows a rise in share of pet-friendly flats on the site, but not enough match the massive increase in enquiries. If letting agents and landlords don’t react to this trend, this could resolve in a large niche of possible renters blocked out of the market.

Patrick Foot, Lettingweb’s Product Manager, added:

‘Understanding that the key demographics traditionally associated with the private rental market are losing relevancy is key to remaining strong and capturing the new tenants who are turning to lets.

'If agents and landlords aren’t tuned to the needs of their tenants, they could lose out as areas like this are of huge potential for growth.’

-ENDS-
1. For further information, or to speak to Patrick Foot please contact Lettingweb’s Press Office:

  •     Patrick Foot: 0131 557 7770
  •     Email: marketing(at)lettingweb(dot)com

Follow Lettingweb on Twitter, to follow up on latest press releases and industry insights: http://www.twitter.com/lettingweb

2. For more information of Lettingweb, please visit their website:

http://www.lettingweb.com

About Lettingweb

Lettingweb are Scotland’s largest letting agent organisation, and the biggest letting-only marketplace in the country. Founded in 1999 by a letting agent who saw the opportunity to utilize the web to make letting better, they quickly rose to become a market leader and have remained there ever since.

Combining a site with the best choice of lettings in the country and a network that distributes property to more sites than any other in Scotland, Lettingweb offer a way for agents, tenants and landlords to have an easier time renting in a turbulent market.

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