Having a pool at your Delaware County rental property could add value, attract families, and appeal to more individuals. But, before investing in a DelawareCounty property with a pool or adding a pool there are some things to keep in mind.
Pools may increase the chances of liabilities and need regular maintenance. There are pros and cons to owning a rental property with a pool. Learn tips for managing a property with a pool, what the liabilities are as well as the pros below.
Liabilities and Pros of Owning a Rental Property with a Pool in Delaware
The pros may outweigh the cons of owning a property with a pool if you take the liabilities and maintenance seriously! However, it is important to know all the pros and cons and weigh your decision about owning a property with a pool based on the provided information.
Cons/Liabilities:
- Injuries: Injuries and deaths happen in pools, unfortunately. At the end of the day, if these circumstances occur, the landlord may be liable and have to pay fees, medical bills, etc.
- Trespassers: Trespassers tend to like homes with pools (sometimes it is teens sneaking in to have fun). Regardless, there have been circumstances where landlords get sued for trespassers’ injuries.
- Extra Insurance: A pool will likely cost you extra on insurance for the property. Added liability insurance protects yourself if anything goes wrong.
- Maintenance Cost and Procedures: The cost of maintaining a pool can add up and there are tasks that need to completed weekly and monthly. It is quite a time consuming especially for someone that rents a property as opposed to living at it!
- More Laws and Regulations to Follow: There are laws and regulations all landlords have to follow. There will be extra regulations and rules for homes with pools and PA fencing laws to follow.
Pros:
- Attract a larger pool of potential tenants: Many people love having a pool, especially families! Therefore, you may attract more potential tenants.
- Can charge more for the amenity: The pool is an amenity and will allow you to tack on some extra dollars to the monthly rent.
- Pools can add to the exterior appeal: A pool can add to the appeal of the home. Pools can add an aesthetic aspect to a backyard.
- Adds to home and rent value: Having a pool at a rental home may add value to the home and in return allow you to increase the rental value. If you buy a home with a pool already, it will cost you more than a home without one, but again adds to rental value! Consider the pros and cons and decide if the expense to add a pool or purchase a home with one outweighs the cost to do so.
Pool Maintenance Tips
As this is a rental property, you will have to hire a pool maintenance company or make a schedule with the tenant for you to come by to maintain the pool. A pool that isn’t properly maintained is useless and dangerous. Follow the helpful tips below:
- Skim and scrub often.
- Clean filter basket weekly and clean filter pipes monthly.
- Check chemical levels at least once a week and follow the pools’ guide for adding chemicals as needed. Consistent chemical levels are an important part of maintenance.
- Keep an eye on water level and drain as needed (drain before big storms)
- Keep deck clean and power wash often.
- Winterize the pool at the end of the summer each season.
- Whether you decide to complete the tasks listed above or hire a professional, you need an annual service from a certified company to maintain a pool.
More Tips for Managing a Delaware County Property with a Pool
- Add a lease addendum: Add a lease addendum regarding the pool rules to the lease. The rules should include things such as; children must be supervised, no glass by the pool, and other safety requirements. Doing so may help limit your liability should something go wrong.
- Supply tenants with safety sheet: Always give the tenants a safety sheet to explain best practices for pool safety. This is for both their safety and additional liabilities that could fall on you.
- Put up warning and pool rule signs: Emphasize the rules and safety instructions in the lease and safety sheet by putting signs and warnings around the pool. This is another good way to minimize your liability as the landlord.
- Extra security: Add extra security features like motion detected lights or a camera by the pool. Doing so may minimize trespassing issues or allow them to be recorded if needed in court.
- Hire a property management company: When in doubt, hire a property management company. Managing all aspects of leasing, management, and maintenance is complex for a solo landlord. When you add a pool, the liabilities and maintenance that come with it get harder.
A Delaware County property management company has trusted vendors to maintain the pool and can manage the legality of the lease addendum. When an issue arises and you need to prove that the tenant is liable, a property management company has lawyers to help.
Looking for a property management company in Delaware County? Bay Property Management Group Delaware County offers property management services in and around Wayne, Haverford, Upper Darby and Newtown Square. Contact our team of experienced property managers for additional advice on how to effectively manage your Delaware County rental property.