L/O with pool, any advice? - Posted by Stacy (AZ)

Real Estate Investing
#1

Posted by JohnBoy on December 02, 2000 at 14:31:28:

What about you having a pool service contracted to maintain and service the pool? Then add that cost to the lease amount the tenant/buyer would pay and just include pool service with the agreement. Maybe have a clause included included that requires the tenant/buyer to pay any cost in addition to the standard service that would be a condition from normal wear and tear since they are getting the use of the pool.

Check with your agent about additional coverage and check if any special requirements might be needed in your area pertaining to special pool covers for rentals.

#2

L/O with pool, any advice? - Posted by Stacy (AZ)

Posted by Stacy (AZ) on December 02, 2000 at 14:14:02:

Hi all. It’s been awhile since I’ve posted.

Just a quick question. I’ve got a house I’ve taken subject-to, and I want to L/O. I’ve never done this with a house that has a pool. Anything special about this? I know many of you L/O experts have the TB pay for house maintenance and repairs up to a certain dollar amount. Same with the pool? A pool can get ugly pretty fast if it’s not maintained.

Any special accident/insurance issues?

Thanks, and happy holidays!

Stacy

#3

Re: L/O with pool, any advice? - Posted by Mark (SDCA)

Posted by Mark (SDCA) on December 04, 2000 at 12:32:16:

John Boy is 100% right. Pay a pool service to do it. That way at least you know SOMETHING is getting done. Here is more info.

  1. Pool service is NOT cheap. I have 2 properties in Phoenix with pools. Figure 80-100 per month.

  2. If the pool is not properly maintained, it can get VERY expensive to get it back into shape. (Drain, re-fill, acid wash etc). Additionally, the city can get involved because a poorly maintained pool is a health hazard (mosquitos). And the city is relentless and unforgiving!

  3. There a lot of BAD pool service companies. I cannot say I am completely satisfied with the 2 I have. But there are some who are even worse (don’t show up at all, show up and do nothing, give you 1 billions excuses why your pool is different than every other pool in town they maintain etc.)

  4. Pool service requires electric and water. I hate doing so but I pay the water and electric bills. That way I KNOW the pool can be maintained.

Good luck,

Mark

#4

Re: L/O with pool, any advice? - Posted by Tom

Posted by Tom on December 02, 2000 at 18:49:07:

I have a house leased that has a pool. I required an extra deposit before they could open the pool and I had them sign a wavier of liability, plus an addendum stating that they are responsible for a up keep and expenses. They have just signed the third year extension on the lease and I have never spent a dime on the pool.

#5

Re: L/O with pool, any advice? - Posted by Matt B

Posted by Matt B on December 02, 2000 at 15:15:37:

I like JohnBoy’s idea. It would give you a little better assurance that the pool would be maintained properly.

However, I have lease optioned 2 properties with pools and have not had any problems. I simply made sure to explain to the tenant/buyers that they were responsible for all maintenance and repairs to the property, which includes the pool. It seems to have worked out OK. One tenant/buyer even had a deck built and a new lining put into the pool. Unfortunately for her, she was transferred by her job and was unable to buy the house. (Worked out OK for me though.)