House with a Pool--A Good Rental?

Question

We are considering buying a home with a pool as a primary residence and eventually making it a rental. We would live in the house for 5-10 years and then rent it out. What are the issues related to renting out a home with a pool? FYI--the pool is/will be fenced in, but what are the legal ramifications if someone gets hurt or (God forbid) drowns in the pool.

Thanks for your thoughts in advance.

Elizabeth Colegrove · Answer

it depends on your goals and why you are buying it, the area and the market. In my area pool are a huge selling and renting feature. They rent for more, not a lot but enough to cover the additional cost. On the other hand this causes them to "fly" off the shelf.

We typically don't buy them as pure rentals. On the other hand I would totally buy them as a personal turned rental. It is nice to have a diversity.

Jonathan Schwartz · Answer

We own a vacation rental on Cape Cod, with a pool and it gives us a strong point of differentiation over almost all other houses in our price range. I estimate that our exact house without the pool would rent for approximately 30% less per week, which would destroy the ability to be a viable rental. We have to pay additional liability insurance and we have all tenants sign a pool waiver, but after 2 seasons, we have had minimal issues. We spend about $2,000 per year on opening/closing and weekly cleanings but it is well worth that investment. We are starting to look at our next vacation rental purchase and I will definitely purchase another house with a pool.

Matt R. · Answer

I recently rented a house with a pool. I can say it was a deciding factor as to renting that house vs. Non pool houses. It cost the landlord more but the tenants in SoCal will love them and will pay more for pool option.

thanks,

Matt

Phillip Hunt · Answer

Never! Liability and Maintenance costs.........end of line.

Stan Hill · Answer

No. My biggest fear: no matter what safety measures you take, if a renter's kid or neighbor kid drowns, somehow it will be your fault. I have never had a pool, but also suspect maintenance would be an issue.

Landon Elscott · Answer

Is it in an area with vacationer appeal and steady tourism - you mentioned a beach was close by.  Granted, going the vacation property direction is a slightly different ball game than long term, residential properties but it might be justifiable.

I have absolutely zero experience with vacation rental properties and zero experience in the mentioned locale, but I'd at least analyze it from that perspective, too.

With sites like Homeaway.com, I know a lot of vacationers are transitioning into finding short term apartments or homes for their trips rather than hotels. Again, the details of property management in vacation realty is beyond me, but typically from my readings, vacation properties like this tend to attract better demographics rather than those looking for cheap motels and also, dependent upon the area might pull in better returns - and might just justify a pool.

Katie K. · Answer

I appreciate your feedback as it pertains to your respective real estate markets.

I understand that maintaining a pool will hurt my bottom line--including having to maintain it, clean it, umbrella insurance policy etc.  But is there anyone out there who actually is actually currently renting out a home with a pool in California--LA, SF, San Jose, or Orange County.

The home is situated near a beach community in California--so a pool would be a huge draw to a potential renter--setting it apart from other homes in the neighborhood.  What is your monthly cost to maintain it?

Pat L. · Answer

I am ready to fill ours in...34x25 gunite its a PITA. But our kids were proficient swimmers at a very early age & now at least our grandchildren are doing the same.

Due to liability I would definitely pass on any potential rental properties that had a pool. In fact one I bought in '91 (& still own) had a huge in-ground pool that they backfilled a year before they sold it to me. Apparently on the misguided advice of their agent.

On several rental properties (that we have recently viewed) we found the pools (esp those with liners) in very poor condition.

Charles Fella · Answer

I would enjoy the pool for the 5-10 years you live there and then take it out when you move.

House with a Pool--A Good Rental?

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