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I'm considering buying a house with a swimming pool. Personally I like the feature; I have no toddler kids and we are a family of divers so this is not a risk to me.
But I also intend to rent this house out. Will a swimming pool be a net asset or net liability in the rental situation?
It may add rental appeal value to a renter or buyer appeal value when selling, but when the place is being rented, your landlord insurance (don't make the mistake of thinking your regular homeowner's insurance will cover you when renting out the house) sees it as a liability. You may also want to check with your ALJ as in some places, when used as a rental, stricter pool safety/barrier regulations may come into play.
As a rental whether the pool is an advantage or disadvantage depends on the area. If the pool is truly usable year round, like here in Florida, it’s a plus. If your busy season is when it is too cold to swim most families with small children would consider it a disadvantage.
Our house with a pool in Central Florida rents year round. The house with no pool has much more availability in the hot summer.
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Originally Posted by charmed59
As a rental whether the pool is an advantage or disadvantage depends on the area. If the pool is truly usable year round, like here in Florida, it’s a plus. If your busy season is when it is too cold to swim most families with small children would consider it a disadvantage.
Our house with a pool in Central Florida rents year round. The house with no pool has much more availability in the hot summer.
Agreed.
Caveat: I suggest you hire a pool maintenance outfit for regular maintenance. Bake the Bucks into the Rent.
Don't leave it all up to the tenants, who may or may not be willing or competent to keep your pool value protected.
I don't see a pool as a liability. Here in Phoenix, it's a huge benefit and improves a property's rentability. Although I require the tenant to be responsible for pool maintenance, it's probably a good idea to back the pool maintenance into the rent.
I'd say it's a bad idea. I would absolutely pay for regular pool service, and roll that cost into the rent. A tenant is not going to maintain a pool like they should. Liability is an issue, so I agree with getting an umbrella insurance policy. Also, check out what youor insurance costs would be. Insuring a rental property with a pool may cost you a lot more than you think. When you add all of those costs together, it may not make financial sense.
You may also check to see if there are additional requirements in your area for fencing, etc.
Agreed.
Caveat: I suggest you hire a pool maintenance outfit for regular maintenance. Bake the Bucks into the Rent.
Don't leave it all up to the tenants, who may or may not be willing or competent to keep your pool value protected.
I was going to suggest the same thing. Same for the lawn, hire a company and figure it into the rent.
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