Investing in properties with pools

[FJO]

Now I know most of us run when we find a property for sale with a pool, especially an in-ground pool. The maintenance and up keep of pools is time consuming, costly and of course who can you trust, right?
But surely not all is bleak when looking for properties that have pools? What can you stipulate in a lease agreement about pools and their maintenance? Who pays? Who manages it?

Of course in a multi-strata complex, the body corporate looks after the pool and everyone contributes to the cost, but in a single dwelling home, what avenues can investors rely upon to make investing in properties with pools worth while?

Thanks

 

[russellpeter]

Now I know most of us run when we find a property for sale with a pool, especially an in-ground pool. The maintenance and up keep of pools is time consuming, costly and of course who can you trust, right?
But surely not all is bleak when looking for properties that have pools? What can you stipulate in a lease agreement about pools and their maintenance? Who pays? Who manages it?

Of course in a multi-strata complex, the body corporate looks after the pool and everyone contributes to the cost, but in a single dwelling home, what avenues can investors rely upon to make investing in properties with pools worth while?

Thanks

We find it best for the owner to pay for a monthly service. $66 and the tenant covers the costs of chemicals. any maintenance that is required is covered by the owner until its been caused by the tenants.

leaving it to the tenants to maintain the pool does not work unless they have had pools in the past.

we now don't take on properties with pools unless the owner is willing to pay for the service.

 

[pinkboy]

^^ What RussellPeter said. Control as much of the situation as you can, and pass the costs on. Tenants have a hard time dusting down the $20 blinds once every 12mth let alone have the time and patience to look after your $20,000 - $200,000 pool!


pinkboy

 

[FJO]

Thanks for the reply guys. Yes of course an agent would be ideal and an extra "fee" to cover it should suffice. But advertising a property for $260 a week and having a hidden fee in their lease agreement to maintain the pool regularly at an average of $50 a month is going to scare em. I guess the owners just have to pay the extra to get someone / anyone to maintain the pool and not have the tenant fork out (not too much anyway).

 

[travelbug]

I think you telling them that they get the pool cleaned and maintained once a month they would see that as a bonus and not quibble about the rent. If you put it at $10 a week higher to cover the maintenance it shouldn't be a problem.

 

[Sez]

In the past when I have managed properties with pools we advertise the rent at a slightly higher amount and list in the advertising that monthly pool maintenance is included in the rent. Tenants do not look after pools!

 

[BlackSwanRE]

In WA at this very moment and Agency is dealing with the drowning of a child in a pool, (not us).

A case is being made against the Owner because the access to the pool was a door that had been repeatedly repaired, quotes had been obtained to replace as per the Agents recommendation and the Owner insisted on the cheaper repair only option, repairs that continued to fail with use.

This entire sorry and sad saga should serve as a warning to Landlords to not just assume the tenant is going to maintain the pool, to be responsible, and to not cut costs where safety is concerned.

To Agents to back and enforce your recommendation to your owner, even at the risk of loosing the management.

To private landlords, engage the monthly service of a pool professional that will supply you with a written safety compliance check list.

 

[jenni_nextplace]

Tenants and pools generally don't mix.

Another advantage as a landlord sending the pool guy around each month is that they can keep an eye out for you on how well the property is being maintained.

Tenants expect to pay for the chemicals and should do most of the maintenance. Your pool guy is there only to do a general check of the pool pump etc, and make sure tenant is maintaining it, they should not be there to clean the leaves out. The tenant needs to be responsible for this as it is not a monthly job it is an as needed job and can only be done successfully by the person who lives there.

 

[8arterc]

We only invest with properties with pools now. We found that the tenants we go after tend to be POMS, fresh off the boat and all looking for the house with a pool. We vet carefully, and found that not only do the houses rent faster but we can charge $50-$70 more per week. The tenant pays cost of chemicals and we pay the cost of inspection. We have 6 properties with pools and get discount from pool cleaning guy. The key is to rent the property during the summer months and they queue to take it on.

 

[Jacque]

Interesting variety of responses to this one. Having bought for investor clients with and without pools I'd add that I believe a "pool maintenance levy" is a sound idea, but ensure that tenants are still responsible for general cleaning (via special conditions added to the lease) as per Jenni's post, as auto cleaners can only go so far without being cleaned regularly- ditto filter boxes

The biggest concern is safety and I would strongly encourage (as we do with our clients) that purchasers obtain a pool inspection safety check prior to committing, to ensure all is well and compliant. Things will be easier come April 2014 when NSW pools need to have a compliance certificate with the Swimming Pools Act upgrade and this includes all vendors and landlords prior to selling or leasing- about time too I say!

http://www.dlg.nsw.gov.au/dlg/dlghome/PublicTopicsIndex.asp?mi=0&ml=10&id=17

 

[Peterw]

Jacque, I agree with the post about ensuring there is a certificate of compliance in place. I am intrigued by the posts suggesting that we should advertise that costs of chemicals are tenants responsibility. I don't believe we are required to advertise "water efficient" homes, with the tenant having to pay for water consumption. I know this comment is tongue in cheek, we don't advertise that the tenant has to pay for Foxtel, even though we advertise the connection is there.
So having the tenant pay for chemical consumption ... ?