Hi
Does anyone own an IP with a pool. I wondered whether it was more diffciult in finding tenants when the house has a pool. I suppose many tenants may view this as a plus, esp if they have a family whilst others may see it as a costly expense and therefore not consider renting it due to the costs associated with the pool.
What are your thought?
Hi Maria,
Pools can increase a gross rental return but yes there are increased costs incurred.
I would suggest that as landlord you should be responsible for maintaining the pool – just add a premium to the weekly rent to cover those increased costs. If you use a pool service agreement with a local shop then there is minimal impact on you or your tenant personally.
It is also very important that you ensue safety regulations and requirements are strictly adhered to and attended to if required. As a fatality in your pool could see yourself answering some tricky questions in court. Not wanting to be alarmist but extra diligence on your part, as a landlord, would be advantageous.
As for increased tenantability – ensure your leases expire in peak pool season when demand for a pool is at its greatest.
Derek
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0409 882 958
Property investment advice and researched property in quality locations available.Hi There,
I could probably write a book on my experience of owning an IP with a pool.
When renting out my property, it was definately a negative if it was winter time. Some people liked the property but did not want a pool.
However, I had no problems renting in summer.I would make sure you get a pool inspection, (this is not costly) but definately could save you headaches down the track.
After many expensive maintenance bills I now have a company maintaining the pool every month, this costs $50 per month and the tenant actually makes sure the chemicals are maintained. I raised the rent to cover this.
In winter it would not be necessary to maintain the pool every month.
It would be a good idea to provide the tenant with appropriate equipment, ie creepy crawley etc. This is not cheap, approx $690 for creepy crawley.
In short, weighing the good and bad, I would definately not buy an IP with a pool. I hope I have turned you off purchasing an IP with pool, just dont want you to make the same mistake I did.
Regards, M
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