Potential Rental with a Pool

[Chuks Erinne]

Hi Fellow BPs!

Im in the process of buying an investment/vacation rental home in Savannah. I live in Atlanta but work in Savannah and decided to get something here. Im focused in the midtown area of Savannah which is where i work. close to school and hospital so its in a nice convenient location.

What I found: I found a property, 4/2.5 but it comes with a pool. The pool is not too deep but i worry about maintenance long-term. Although it can get very hot and humid in Savannah, so i see it as a plus personally. My strategy is to rent each room out individually (Plan A) or AirBnB (Plan B) or rent the whole house out to a 1 individual or a family (Plan C).

Question 1: Have you had any experience in a place like Savannah, GA with schools/colleges/army bases...renting individual rooms? I like this because of more cash flow. Is this a good strategy long-term? What is your experience doing this with a property mgmt company or yourself??

Question 2: any experience with pool maintenance in a rental? Any advice...Do/Don't etc. Like liability insurance, adding it to lease agreement, requiring tenant to get coverage etc.

Question 3: Is a house with pool desirable in Savannah? will that help attract renter in  general?

Thank you

[Greg Scott]

I'm not from the SE but have property in Texas.

First of all, check with your insurance company.   In my experience there isn't much cost difference with a pool unless it has a slide.   Also, make sure you have a security gate.  I'd recommend getting more liability insurance.

From a repairs perspective, I've had 2 properties with pools.  Over 5 years, I think I spent $1500 on equipment and repairs, so it hasn't been an issue at all.    

Ongoing maintenance is a different topic.   I wouldn't let your tenant manage the pool.  If they don't care for it you will have a quagmire and need to buy new equipment.     On my properties, I included pool cleaning which costs about $125/mo and I added that to the rent.   People will see the value in having a pool without any effort on their part to keep it running.

Good luck