Rental IP with a spa

[ffc1883_1996]

I'm looking into buying a rental IP in Melbourne with a big spa on a nice deck. This would definitely appeal to tenants but I'm concerned about the liabilities that we'd be faced with.

Any ideas to improve SANF?

 

[Raddles]

HI there
I am assuming the spa has a lockable cover? If not, then get one. Also you may need to check the fencing requirements - whether the spa needs a fence around.
Also as to ongoing maintenance - are you going to make the tenant responsible for checking chemicals and maintaining the spa? If not then you will need to factor that into your rent.
Problems with spas have occurred in resorts where young children got hair caught in outlets and were drowned - is the spa likely to have this as an issue?
Spas can be quite nice in a rental property. We lived in the US for a period and the home we rented had a spa that was not working. My husband offered to get it working for the owner - which he did - provided the owner paid for any repair parts (which turned out to be unnecessary). We enjoyed it throughout the period we were there and kept it maintained with chemicals etc. Hopefully you will choose a tenant that will do the same.

 

[duncan_m]

A few suggestions:

1. Up your Liability Insurance to $15M from the usual $10M?

2. Promptly attend to requested maintenance?

3. Put in lease conditions like
a) Tenant to notify Landlord promptly of any safety concerns with spa
b) Tenant acknowledges safety risks associated with spa and agrees to use it at their own risk

4. Include a "Spa information pack" with your lease.. operating instructions, safety information, etc.. Make Tenant initial each page and sign?

Nothing can cover you completely.. just set yourself up so that you have lots of ammunition if you ever get sued and your insurance company act like *******s (which would be rather unheard of?)..

 

[Pablo]

I've been looking for an IP with a spa as well but only so I can steal it and install it at my house

 

[sue78]

I would say don't bother. The thought is appealing but seriously, people won't use it all that much.

I have built houses with spa.swimming pool and all i did was over capitalised. The new owners had the swimming pool filled in!

My current new Ip has a spa but it just takes up the whole bathroom yet doesn't ever get used. We actually took a dip in the spa and couldn't believe that it took forever to fill up. Then when you turned the jets on, it's so bloody loud, can hardly be called relaxing....more like a fright! MY 2y.o screamed each time we turned the jets on.

and with the water restrictions aswell.

However, I think it's ok f it's japanese style...u know where you wash yourself first then take a dip in it and just leave the water for next use.