Property managers and renters may view a swimming pool for your rental property as an appealing feature that can de help attract new tenants and keep current tenants happy. But pools also come with a maintenance price tag and that is the maintenance checkup from Keepe this week.
Building a swimming pool on-site may not always be a good option so there are some issues to consider.
Here are 10 things to consider before building a pool for your rental property.
1. A pool for your rental can be dangerous
Pools can represent a serious and potentially deadly danger for those who do not know how to swim, especially children. Making a pool available to residents will require implementing effective safety measures to eliminate the danger of accidental falls or easy access for unsupervised children.
2. Safety is necessary but expensive
A property owner and/or manager can be held liable for injuries caused by negligence. Implementing safety measures will be necessary, and those measures will come with a price tag. From building fencing and a locked-gate system to hiring a seasonal lifeguard, expenses should be expected.
3. Return on investment is not ideal
In most cases, building a pool for your rental property is an expensive project. While it can raise an estimated five percent to a property’s value, you are not likely to get that back when the property is sold. The market demands in a certain area will dictate the value of a property and of the addition of the pool, not the exact amount that was invested into building it.
4. Expect higher utilities
Operating the pool and additional elements – such as lighting around the pool or the filtering system – will require higher usages of water and electricity, which translates into a more expensive utilities bill. If you plan to heat the pool which is needed in some parts of the country, it costs even more.
5. Routine maintenance is a must
Regularly scheduled pool maintenance is a must to guarantee it is clean and safe. Outdoor pools are exposed to dirt, debris and even insects, which can all easily contaminate the water. A professional pool maintenance service should be contacted and hired to actively maintain the pool, especially during the warmer seasons.
6. Careful with chemicals
Pool maintenance includes the use of chemicals to condition the water, keep Ph levels safe, and bacteria and algae out. Improper maintenance of chemicals can cause tenants to get sick and/or experience reactions to the chemicals. Managing and adding chemicals to the pool should only be left to a qualified, trained professional.
7. Mosquitoes love pools too!
Some areas vulnerable to mosquito infestations can be even more vulnerable with a pool. Building a pool in those areas will require extensive and regular maintenance and treatments by a pest control specialist.
8. Trespassing and unwanted guests
Tenants won’t be the only ones wanting to enjoy their new pool. Sometimes, unwanted guests might begin accessing the property’s pool, which is not only a nuisance but also a safety concern. For this reason, building secure fencing or some kind of monitoring system might be needed.
9. Plan on routine updates
Over time, pools will need updating. Every five years or so, it is appropriate to check and update the pool with new materials, such as tiles, panels, lighting or draining systems. This kind of preventative maintenance will help avoiding unexpected, substantial damages and will keep the pool looking appealing.
10. Construction can annoy neighbors and residents
From a construction standpoint, building a pool requires extensive work. Tenants and neighbors will experience construction site noise and traffic. Generally, it’s always best to notify tenants and neighbors about the project ahead of time and offer support throughout the process.
Summary on building a pool for your rental property:
For most of us, outdoor pools are the synonym of fun, relaxation and good times in the sun. It can be easy to get excited about having access to a pool as part of one’s own amenities: both property managers and renters alike tend to view it as a unique asset to the property. Especially in warmer geographies, pools are generally quite an appealing feature that can definitely help with attracting new tenants and keeping current tenants happy.
Keepe is an on-demand maintenance solution for property managers and independent landlords. The company makes hundreds of independent contractors and handymen available for maintenance projects at rental properties.