Rental properties with pools come with advantages and disadvantages. Some landlords may view a pool as a great amenity that can attract potential renters. However, if you are considering purchasing or renting out a property with a pool you need to consider some important issues.
Liability: When you have a pool on your rental property you can be liable if someone injures themselves or drowns. In order to avoid potential liability you need to ensure that there is a fence around the property. In addition, adding other measures like back door alarms could help protect you against a lawsuit if your tenant’s child wonders into the pool and is injured. You may also want to get extra insurance to protect you if you do get sued.
Maintenance: Maintaining a pool can be expensive and costly. You cannot always rely on tenants to clean and maintain a pool. Failure to properly maintain a pool can cost thousands in repairs. Hiring a pool company (and getting permission from tenants to clean the pool) is an important cost you will need to consider when renting a property with a pool.
Adapted Lease: Spelling out in the lease rules what pool rules you expect the tenant to follow is very important. Have your lawyer draft a pool specific paragraph to your lease and ensure it includes notifying you if any part of the pool, including safety features is damaged.
If you have a pool on your rental property there are several aspects you need to consider. The most important aspect to consider when having a pool on your rental property is the potential liability if anyone gets injured while using the pool. Therefore, if you do have a pool on your rental property ensure that your property management system tracks all information related to your rental properties’ pools including maintenance, safety and compliance with local and state regulations.
This post is provided by RISSOFT Residential and Commercial Property Management Software, specializing in innovative and cutting-edge property management software for all 50 states. Request a demo or contact us today to receive more information.
Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.
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