Hey,
I was looking at this nice 3 bedroom house, it has an above ground swimming pool out the back of the property.
I am looking at properties to renovate and then rent out, and was wondering about any technical/legal issues i might have with renting a property out to someone that has a swimming pool.Will i need extra sort of insurance?
I assume i will need good fencing and gate surrounding the pool to make it all legal.
Is it worth it for any extra rent i can get?Or is it a complicated nightmare i should probably stay away from?
Being an above ground pool, its nothing to just rip it down if its too much of a hassle to keep it.
A pool’s a pool, for some it is a must, for others it’s a must avoid. It requires daily maintenance & filtering. Some tenants don’t mind others don’t want to know.
Fencing is mandatory, make sure it is compliant with the regulations & there are no climbing frames nearby.
States vary in their laws. In QLD, for example they have recently made annual council safety compliance inspections mandatory (at $250/yr). In NSW there are no compulsory laws like that but they will probably come in after the next negligent drowning, in my guess. Some tenants will look after a pool, others see it as the owners job and then you end up paying a pool company to do it because even though the actual work is quick, it is several days/week ideally (to net out leaves, test chemicals etc etc) unblock filter.
My suggestion is look up state laws on pools for landlords (eg type in "landlord pool tenants" into google for your state and see what is there. Other really good resource is just ask a property manager in the area what normal protocol is. Some places are so hot and there are a lot of families that a pool jacks up the rent enough to justify it.
At a minimum, fencing should be compliant and make sure you have good public liability insurance. I'd also suggest writing into a lease that it is tenants job to care for the pool, and you provide a quarterly pool expert visit or something like that.
Hi illuminati
We keep away from them completely, for both our tenanted buy & holds and the properties we buy and on-sell with vendor finance. Our experience was they cost us too much in the longer term.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
I think they can be a pain. One more thing to break down, leak etc (nd that's without the insurance worry).
Maybe ask a few real estate agents whether the demand is there and would it increase the rent. If not get rid of it.
I'd advertise it on Ebay (dismantle and take away yourself type deal). Easy for you. Just buy some grass to cover.
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