Swimming pool or no way?

Question

Would you buy a SFH with a swimming pool for a buy and hold rental? (in Augusta, so it's way enough for several months of pool season).

Penny Clark · Answer

@Jack Forester, although a pool seems like an attractive amenity for renters, it can create all kinds of liability and maintenance issues with a rental. If you decide to risk renting a home with a pool, this is what I'd do:- Include pool maintenance cost in your rental expenses. Either build the cost into the rent (recommended) or charge a separate maintenance fee to the tenant. It is reasonable to ask your tenant to dip out leaves from the skimmer and pool but use a pool service for everything else, including chemical maintenance and equipment. It would also be helpful if you rented to a tenant who is familiar with pools (how to operate equipment - particularly if it comes with a spa). - Check your homeowner's insurance policy to ensure coverage for pools is not excluded. Some insurance companies as stated above will not offer coverage unless certain conditions are met. For example, having a locked gate surrounding the pool to control access or removal of diving boards or slides. Even if it is not an issue with your insurance company, I highly recommend you do both of these things. I would also recommend you get an umbrella policy in addition to bumping up your liability coverage to $500,000 if you haven't done so.- Make sure any plants, trees and other vegetation that surround the pool are low maintenance. This will cut down on maintenance and cleaning fees.Of course, if you decide to buy the property anyway but don't want to deal with the pool, you can have it filled in a day for a few thousand dollars. If you search the forums, I'm sure you'll find a few posts from members who have done that.Best of luck to you!

Levi T. · Answer

I would, only if I heavily discounted for maintenance and repair of said pool. I would stress on the seller than I would need huge discount just for having to deal with it, then find middle ground. After closing, cover the pool and leave it covered. If renting, and a tenant wants to open the pool. I would require a large deposit and charge for upkeep so you know is being done right.

Mike Hicks · Answer

personally i don't. way too much maintenance for a renter who usually doesn't care enough about your property to do the maintenance on it, which can cause issues with your pump or filter etc. I just wouldn't take that chance for the extra money a month you can charge in rent, as most people in the price point would just buy.

Malik Welch · Answer

Eh, Maybe ! Depends on the house you have & the location it's in. Who will the rental attract? I personally would if I am renting a nice 3/2 or 4/2 in grovetown close to the military base that rents for 1300-1400 to a captin or officer at fort Gordon. Those amenities may very well be expected by that class of tenant in that price range & location. If I am renting a 1400 house Id probably expect a pool . My expectation may be much different if I'm looking for a 850-900 rental in pepperidge .

Jack Forester · Answer

Yeah, found this thread:https://www.biggerpockets.com/forums/52/topics/59860-swimming-pool-in-a-rental-

Jack Forester · Answer

Actually, this was the wood siding on the house. The pool filter backwash drain was actually directed at the side of the house, so if you backwashed the filter, it sprayed the side of the house. This probably didn't help anything, but what looked to be the issue, was a shoddy siding job. They had about a 2" gap around where the electric service came into the house. The sheathing behind the siding was all mush. The roof looked to have been leaking for some time, and portions of the carport ceiling was open with insulation hanging out. The kitchen and stair risers had a DIY stacked stone, but the stair treads where face screwed down floating wood, which sloped down, so it fell as if you were going to slide down the stairs, and probably would, if you were in socks.The style of the house was a bit polarizing as well. It's off the market now. Looks like it was a flip gone wrong (bought off the VA).

Chris Majors · Answer

@Jack ForesterI just finished a flip in West Lake (Augusta area) with a pool with the same problems (stupid wood siding pool they don't do any more). We ended up having to remove and replace all the pool decking and basically redid everything. We kept the pool because it is one of the most expensive neighborhoods in the area, but sunk around $13k in the stupid thing. Ultimately this flip turned into a nightmare because it was myself and my partner's first "luxury flip." It was a great learning experience, but not a money maker. All said, if the deal is still available I may be interested. Shoot me a PM with the details and maybe we can both make some money.

Jack Forester · Answer

We looked at the property and decided against it. 1) There was evidence of extensive rot behind the wood siding2) The pool equipment was clearly not functional (pieces missing) 3) Interior reeked of pot4) Floating laminate floor was face nailed and screwed down with deck nails (assuming it was installed under the influence) 5) High power lines bordered the back property line6) A three building, 4 unit complex came on the market at less than twice the price of this house. It has a 2 bedroom house, a single bedroom house and a duplex (one bedroom each). 7) I bought the property in #6 ;)

Malik Welch · Answer

What did you end up doing jack ? Also look at the Exit . When you sale the house to an owner occupant . Factor that into the decision . I think you should keep it. You may sink you're resale value by 20,000 and have more Days on market because everyone else has a pool but you . If the buyers expect a pool . I say keep it & have the renters maintain it. IF that's the norm in that neighborhood. What's the potential rent ? Do other houses have a Pool ?

Jack Forester · Answer

Okay, so if the numbers work after including filling the pool, then it's a go. Right?