IP with a pool

Viewing 8 posts - 1 through 8 (of 8 total)

Startinvestor101
Participant
@startinvestor101
Join Date: 2015
Post Count: 2
November 21, 2015 - 1:02 pm
Having looked at several IPs in the area we are interested in, one of the them has a pool. This IP has been well maintained inside and out and would only really need a kitchen makeover so there are other positives than just the pool.
What are people’s opinions on an IP with a pool?
We would have it in the rental agreement that the tenants are responsible for the general upkeep of it
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
November 22, 2015 - 8:03 am
Personally – I think it would be a big pain. Even if the tenants agree to maintain it – there will be some costs to the landlord (repairs, etc).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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crj
Participant
@crj
Join Date: 2004
Post Count: 618
November 22, 2015 - 4:00 pm
You might be better to build the cost of maintaining the pool into the rent
Pete
Participant
@pjewitt
Join Date: 2015
Post Count: 50
November 23, 2015 - 10:38 am
As someone who has a pool that gets used only a couple times a year during summer, while having to maintain it all year round, in my opinion, unless you can find tenants that are specifically looking for a pool, it might be off putting to every other potential applicant.
cheers
Pete
Andrew Vo
Participant
@guynextdoor
Join Date: 2015
Post Count: 5
November 30, 2015 - 9:36 am
Having a pool is a great feature but not all tenants look for it in a home.
So this may hurt your chances in finding the right tenants plus there are also the extra maintenance costs.
Also it will restrict you in the future if you decide to extend or construct a granny flat at the back.
Cheers,
Andrew
Andrew Vo | Home Loan Experts
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Helper for investors and first home buyers throughout Australia.
crj
Participant
@crj
Join Date: 2004
Post Count: 618
November 30, 2015 - 8:05 pm
Andrew Vo wrote:
Having a pool is a great feature but not all tenants look for it in a home.
So this may hurt your chances in finding the right tenants plus there are also the extra maintenance costs.
Also it will restrict you in the future if you decide to extend or construct a granny flat at the back.
Cheers,Andrew
True, but if you get a tenant who wants a pool, they want a pool. We rented our PPOR with a pool to tenants who wanted a house with a pool. 7th anniversary of them being in house comes up next week.
dtrain28
Participant
@dtrain28
Join Date: 2015
Post Count: 27
December 1, 2015 - 11:56 am
I currently rent a place with a pool. Prior to us moving in, the pool had to be drained and professional cleaned due to lack of maintenance while it was vacant. I’m sure the L/Lord is regretting the pool now, as it was a costly exercise.
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
December 1, 2015 - 6:54 pm
Generally avoid properties with pools. Limits your potential tenants, extra maintenance etc.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide