If you’re lucky enough to own (or have the chance to purchase) a rental property with a swimming pool, there are a lot of things you’ll love about it. A private pool is a big draw for fun-loving families and singles alike, potentially making it much easier to rent out your space. However, a pool might mean additional work (and cost) for you and your tenant.
Here are some of the basic things you should know about owning a rental property that has a swimming pool.
Maintenance is huge.
The pool becomes more of a headache—and less of a fun feature—if it is dirty or otherwise not maintained well. The pool constantly needs to be cleared of debris, including leaves and rocks, which could damage your filter or vacuum system. You’ll also have to regularly check the chemical levels of the water, to make sure it is balanced and healthy for swimming. In addition, you’ll need to maintain the pump and motor, and perform any repairs on it.
You’ll want an addendum in your lease.
Add an addendum to your rental lease to manage liability and cost associated with a pool. In this addendum, you should specify which maintenance tasks the tenant is responsible for, and which you will provide as an additional service. You should also outline any pool policies, including policies about the fence, additional maintenance, and any manufacturer information associated with the pool equipment.
You need to know about your neighborhood and city policies when it comes to pool ownership. Many communities require private pools to be surrounded by a self-locking fence for safety purposes. Making sure the fence and lock are constantly in proper working order will help you avoid any liabilities associated with the pool. Make sure your tenant knows to keep an eye out for any malfunctions, and notifies you immediately if there are any problems or concerns.
You should also consider safety when it comes to the areas immediately surrounding your pool. Make sure the deck is free of obstructions or hazards. Keep plants and trees trimmed so they aren’t protruding into walkways.
Ideally, no one will ever be harmed in your pool. However, you need to make sure that if an accident were ever to occur, you would be protected financially. Make sure that your liability insurance coverage is adequate to cover pool ownership, and make sure a pool is covered by your policy. Talk to an insurance agent to make sure that the insurance is taken care of. You may also want to speak to a lawyer to discuss your options, were something to happen.
Having a pool at your rental property can be a great asset, but it also could pose challenges you hadn’t yet considered. Make sure you think about these things while considering if you want to rent out a house with a pool.
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