The implementation of the Renters' Rights Bill could lead to more than a million households in England taking in a new cat or dog next year, research reveals.
A survey by Go.Compare pet insurance found that 42% of renters who either had a previous request declined by a landlord or had never asked would go ahead with pet ownership once the law takes effect.
The Bill will strengthen protections for private tenants, including a rule making it easier for renters to keep animals.
Landlords can only refuse a pet request if they provide a valid reason.
1 million new pet owners
Should the number of tenants who have had a pet request turned down decide to reapply, landlords in England could see more than a million additional pet-owning households.
The split between cats and dogs looks almost even, with 56% of would-be owners leaning towards a feline companion, while 52% said they would prefer a dog.
However, the findings also reveal concerns over financial preparedness.
Around one in four said they might not buy insurance for their animals.
That could mean as many as 269,000 new households without cover if pets fall ill or get injured.
Rents will rise for pets
For landlords, not only is that number a worry but it looks like MPs will reject an amendment for landlords to demand pet damage insurance.
Another amendment enabling landlords and agents to request up to three weeks' rent as a pet deposit has also been opposed by Labour and is unlikely to be accepted.
The managing director of lettings at Martyn Gerrard Estate Agents, Greg Tsuman, said: "Rejecting the pet deposit amendment doesn't empower tenants.
"If landlords can't require a deposit or insurance to cover pet-related damage, many will simply price in the risk by raising rents across the board."
He added: "That doesn't help tenants – it drives defensive pricing, reduces affordability and choice, and unfairly penalises those without pets for rules meant to protect those with them."
Get pet insurance
Rhys Jones, a pet insurance expert at Go.Compare, said: "Seeing the Renters' Rights Bill introduced was a really positive step for tenants in the private rental sector, as it will hopefully give them more security and stability, and improve overall conditions.
"Measures like this one, making it easier for renters to keep pets, will also help to make renting a more comfortable and flexible housing option for many." He added: "With so many tenants planning to get a pet when the rules change, we could certainly see a boom in new owners across England. “
Student tenants with pets
For student landlords, the Renters' Rights Bill could mean adjusting their expectations as more student tenants look to move in with animals.
The managing director of Accommodation for Students, Simon Thompson, said: "Student landlords will need to be prepared for a new generation of tenants who see pets as part of their lifestyle rather than a luxury.
"Those who adapt quickly and set out clear, fair terms on pets could actually find their properties become more attractive to long-term renters."
He added that tenancies will need 'flexible but watertight' pet clauses.
