Pool in an IP?

I have had one in an IP for a long time and really it has been fine. With some tenants who I didn't trust - I included once a month service in the rent (additional). With responsible tenants - I provided one maintenance visit to teach them how to maintain.

That being said - my pool is VERY simple. Pump+filter is about it with no automation.

 

Got 2 with pools in Brisbane.

The pros are only that the deals were very good, got a good price. Plus the added benefit of reducing summertime vacancies.

But the cost was alot, in compliance work, large amount of initial maintenance, and replacing equipment.

Going forward, will use a pool guy every month.

 

Well it seems work fine for me. The tenants currently look after the pool themselves (they have experience in looking after pools before), and we could charged like $20-30 more than the similar properties that doesn't have pools and could charge extra $20 if we maintain the pool(Call someone for service, tenants pay for chemicals). I was so surprised how popular it was (Attracted 3 groups of tenants applications after Ad, rented out in 1 day). But i think it might be approaching Summer in Brisbane and it's already quite warm here in noon.

 

Out of curiosity, when it's listed on realestate.com.au or whatever, would you just have the normal rent and then as people come through, state that they can either maintain it to a standard or that it will be an extra $x per month for a maintenance person to look after it?

Personally for me, I've purposefully avoided prospective purchases with a pool due to my inability to be hands on whilst working interstate.

 

I just spoke to my PM about my prospective purchase with pool. She told me that she has a few properties she looks after with pools, and has the owner pay for the monthly service ($44) and the tenant pays for any chemicals needed. Considering that if leased between October-March, it will add approximately $20 more in rent a week (other months she thinks it will have to be on par with similar properties without the pool to rent out) this isn't too bad. Of course, I'll probably be cursing my decision once the pump or the filter goes, but as said earlier, my offer i've put forward is not taking the pool into account, rather the underlying asset. Keeping fingers crossed we snag this one, as we are now regretting not budging the extra 10k with another house we had an offer on that has now gone unconditional and in retrospect was still a good buy at 10k+ (and without the potential hassles of a pool!)

 

Yeah in your ad you normally list the price with tenants manage the pools, and on your descriptions add $20/30 per week if you are going to manage for the tenants

 

Hi montoya,

Are you able to share which pool company you use? The current one my PM organised for me is charging double of your price ($88) for monthly pool service and I've got a couple of quotes from them which seem over the roof. Want to start comparing especially they just quoted me a new chlorinator replacement for $1150...

 

Crikey!
Probably worth getting a couple of your own quotes on that.

 

Absolutely, which is why I start to feel like a milk cow now with this pool company

 

I have a pool at home but I would never buy an IP with a pool. Don't want the hassles, the costs (eg replacing equipment) nor the risks. Pools are a lifestyle choice - not going to offer it to my prospective tenants. They can go elsewhere.

 

How long have you had this IP for?
Have they had a lot of maintenance requests?

 

3 months to date.
It's just bad luck I guess... First there was a leak so costed me couple hundred to get that fixed, and now they are saying the chlorinator is gone so need to be replaced quickly otherwise pool will turn green (without the chlorine). As a rough calculation I would say the pool company charged me close to 1k to-date not including the chlorinator they want to put in.

Apart from the pool the oven thermostat also "retired" last month (another couple hundred), there are some minor plumbing issues (couple of hundred again) and last week tenant reported clothes line snatched from root. I can't believe 3 months in and all I had are issues after issues to the point where rent is no longer enough to cover maintenance cost!

 

@LeMU I have sent an email off to my PM to request the details.

 

Thank you

 

Quite simply pools are extra work and if the tenant is not up to maintaining a pool then you will need to do build the cost into the rental.
Here's a clause we use for pools

1 Swimming Pools And Spa's

Where the premises includes a swimming pool or spa the Tenant agrees:

(1)to observe any instructions from the Landlord about use and maintenance of the pool or spa.

(2)to bear the cost of all chemical treatments and labour required to keep the pool or spa in good condition.

(3)to ensure all filtration systems are cleaned regularly.

(4)to have written consent from the Landlord before draining the pool or spa.

(5)to immediately notify the Landlord of any equipment malfunction or damage.

 

Glad did not buy IP with pool..

 

Have you got any other IP's with this PM?
Might be just bad luck as you say.

 

We have an IP with pool, former PPOR. Our tenants wanted a pool and have been there 7 years. They maintain. Over the years we've replaced pump, filter etc etc. For us these costs have been cheap as we have had no vacancy. If we lease it again after they go I would get pool co into maintain.

 

How much did the pump go for?
My sister/BIL just replaced one, much cheaper than quotes from some companies.
Shop around.

 

I am sorry to hear that. Just wondering would you be able to claim any insurance (landlord insurance) to replace/fix the equipments? also, if the damage is from tenants are the tenants gonna pay for the fix?