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.
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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.