A swimming pool on the property adds more value to such property. The rush for such property is going to be massive. Often, prospective clients desire such not-so-common luxury for different reasons; it could be for its relaxation benefit; you know, sitting by the pool and sipping a glass of lemonade.
Also, it could be that they have concluded that having a swimming pool will save them from stressing over a party location in the future. Whatever the reason may be, it is supposed to be a lucrative business and a win-win for both parties. However, things could go south if not adequately managed.
6 Things Landlords Should Know
Swimming Pool Attract High Maintenance
Building a pool is quite expensive, and so also is its maintenance. The pool expenses do not stop after building a pool; the maintenance costs continue right after. The fact that a pool requires frequent and continuous use makes it a major expense.
For this reason, landlords need to be sure that they consider the cost of continuous maintenance while deciding how much rent to charge. Fine, having a pool will add value to your property, but you will want to make sure you don’t end up shooting yourself in the leg with it.
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Pool Increases Liability
Should any accident happen in the pool, you can be indicted as the property owner, especially if you are negligent with putting the required safety in place. You Protect yourself from being liable by observing regular pool maintenance, adhering to state and local laws that apply to pool safety, and you can also ensure that your tenants sign a pool waiver. This relieves the landlord of any liability should an accident occur while using the pool.
Consider Installing Safety Features
A landlord can’t be concerned about the profit alone, the welfare of tenants should be utmost; therefore, as a landlord, you should fence the pool area to prevent accidental drowning and ensure that the fence has doors with locks to keep children out or put up a sign that says; “children are not allowed to swim without supervision.” Call Timber Ridge Fence Company Indianapolis for your fencing installation needs.
The Need To Draft A Pool Addendum
Play it safe. While drafting a rental agreement, including a pool addendum. A landlord can completely exonerate himself should an accident occur; all the landlord needs to do is to clearly state all the rules for the pool in the addendum and also educate them on the risks that come with its usage
It Is Possible To Charge More For Rent
Having a pool requires consistent maintenance, and a landlord should consider this while deciding what to charge for rent. Such consideration can also give room to maximize profit by charging more for rent. As long as you have what the client wants, they will be more than willing to pay
Pools Require Regular Maintenance
Having a pool is not an easy feat; in fact, work never stops on it; it is forever ongoing. Before renting a house with a pool, you need to know that you need to constantly pick out the debris in the pool. Also, the water must not be under chlorinated to avoid plants growing on it, nor must it be over chlorinated because it can cause skin irritation. You also need to make sure that the pool is more environmentally friendly.
Even with the knowledge of the mentioned points, landlords may still find strict adherence to the swimming pool laws and maintenance tasks daunting. However, Getting worked up is unnecessary when property management companies can offer professional services. PMC can handle the lease and ensure the landlord stays legally compliant with laws on renting a property with a swimming pool, and they will also handle all cases of an indictment if there are any.
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Conclusion
The sum-up of everything is that renting a house with a swimming pool will attract prospective clients at a significant percentage. It is now left to the landlord to understand the risk and responsibilities that come with renting out such property
The landlord is expected to understand that a house with a swimming pool comes with added risks and expenses. The key to successfully managing the property by the landlord is to be in the know of basic safety needs and laws on renting a house with a swimming pool. The landlord is good to go once he doesn’t make any move contrary to those laws.
Iskra Banović is our seasoned Editor-in-Chief at Blufashion. She has been steering the website’s content and editorial direction since 2018. With a rich background in fashion design, Iskra’s expertise spans across fashion, interior design, beauty, lifestyle, travel, and culture.
