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IP with inground pool.

Discussion in 'General Property Chat' started by -nb-, 1st Oct, 2015.

  1. -nb-

    -nb- New Member

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    29th Sep, 2015
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    Location:
    Stockholm
    Hi,

    General question, but anyone with advice on buying an IP that already has a in ground pool? Just don't or what are the consideration's?

    Thanks
     
  2. rhinsor

    rhinsor Well-Known Member

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    Perth
    Remove it, fill it in, have tenants maintain it, hire someone to maintain it.

    Is the property in an area where a pool will add value?
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    I'd avoid IPs with pools unless its in an area where it's expected to have one.

    Maintenance issues with cleaning it, keeping ph levels ok, keeping filter operational etc.

    Liability issues with fences, kids drowning etc
     
  4. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    I have an ip with a pool and tenants love it.

    Let them maintain it cleaning wise

    I have had to fix the pump once.

    Adds extra rent I believe.. In some cases
     
  5. citystar

    citystar Well-Known Member

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    QLD
    I'd avoid purchasing an IP with a pool and if I did I would include a monthly pool servicing in the rental price to avoid any dramas.
     
    Propertunity likes this.
  6. mini2

    mini2 Well-Known Member

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    This.

    +1
    <rant>
    I've spent $1500 fixing up the outside fence to stop, wait for it, intruders from having access to my pool too easily and drown themselves. This whole nanny state/cotton wooling everyone has got to stop. If they jumped my fence and managed to drown themselves in the process, suck sh*t you deserve it.
    </rant>
     
    RyanB, DanW, Toon and 2 others like this.
  7. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Melbourne
    I would also strongly agree with having a pool in a IP.
    1) Who will be responsible for the maintenance or repairs?
    2) Legal.. what if some one drowned or got hurt in the pool, would you be liable for any damages?
     
  8. Scott No Mates

    Scott No Mates Well-Known Member

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    If you're not getting extra rent or the same yield as you would without a pool, why bother? (Unless vacancy rates or quality of tenant improves with a pool)
     
    D.T. likes this.
  9. Biz

    Biz Well-Known Member

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    Pool is a slam dunk no for me for an IP.

    I look for the least complicated house as possible. Just more stuff for tenants to break and neglect. I've hardly ever had much in the way of vacancies so I must be doing something right.
     
    D.T. likes this.
  10. -nb-

    -nb- New Member

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    Thanks for all the replies. Appreciate it!
     
  11. datto

    datto Well-Known Member

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    I think it's a good idea having an pool. It can be used to settle rent arrears ie tenant held upside over the pool by the ankles.
     
    JDP1, TheGreenLeaf, -nb- and 2 others like this.
  12. C-mac

    C-mac Well-Known Member

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    Personally I dont touch houses with pools fpr the abovementioned reasons.

    Really, the only properties where a pool provides evidenced capital growth and rental return that exceeds the abovementioned maintainence costs, are the ones in the top end of town (in other words, typically the $800k+ houses that most investors dont buy due to the net returns being poorer)
     
  13. Inov8ive

    Inov8ive Well-Known Member

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    As stated, there are plenty of negatives with having an IP with a pool but there are some positives as well. I have an IP with an Inground pool and there have been some maintenance costs with it over the years but it has actually worked pretty well for me overall. My property has always been very popular with renters because of the pool and this has always ensured lots of applications whenever it has become available and actually increased bids over the asking price. It is a point of difference.