A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
A rental property with a pool.
Good or Bad?
Now that we
are entering summer and as temperatures rise, a nice dip in a pool sure
looks inviting, but is it an invitation for investment property owners to
purchase properties with a pool. A pool may be a great luxury for your private
residence, but in my business of Property Management, I find that when you take
a close look, people care more about what school is in the area then whether
there is a pool at the home. A recent chart that was put out by Realtor.com
states that 3 out of 5 Home buyers say that school attendance boundaries would
be a factor in choosing a home and a majority even say that they would go above
budget to have their children attend the school of their choice. Even though
this information deals with home buyers, I'm sure the results would be similar
for Renters.
Pool Expense
If you have
a pool, you know how expensive it can be to maintain it properly and if you
have a pool in a rental property, it is almost required to have a pool
professional maintain the pool. If you have the Tenants do the maintenance, you
will find more times than not, that the pool is not well maintained and that
may not only cost you in repairs, but it can also be a health hazard. If you
shop around, you will find pool maintenance to be competitive, but you need to
make sure that the company you hire is professional and is going to not only
maintain the chemicals, but also clean and be able to do maintenance if equipment
breaks down.
Renters
desire for a pool
Depending on
the area your investment property is in, a pool may or may not be a draw for
renters. I have rarely had people tell me that if a property had a pool, they
would rent it, but I have had many people tell me that they would not rent a
property with a pool. That may not be a fair assessment, because, if a property
has a pool, people know that before they inquire about the property.
Liability
When swimming pool accidents on a
rental property include injury or death, there is plenty of liability to go
around. Both the landlord and the Tenant can be sued, and depending on the law,
judgments can be awarded against all of the parties.
There are 3 classes of persons who
can affect pool liability amounts when renting a house with a pool. The first
is a guest who is invited to enter the pool premises for social reasons. This
includes a Tenant using the pool, or a party guest who was invited to a social
gathering by the Tenant. The second is a person
who is allowed to enter the pool premises for business reasons, which would
include servicing the pool. The third is a trespasser who does not have
anyone’s permission to enter the pool premises. A trespasser, for example,
jumps the fence to swim without the knowledge, or consent, of the tenant or the
landlord.
There are pro’s and con’s to having a rental property with a
pool and every Landlord has to decide what is best for their business. If you are on the fence about a pool, it may
be better to buy a rental property without a pool, because once you have a
pool, you can’t make it go away.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County
Ca.