Landlords often consider what kind of amenities to offer and which ones would yield the best return on investment (ROI). Minor additions, such as new doorbells or flower beds, might not require much contemplation, but something as significant as adding a swimming pool does. It's an expensive amenity, both in terms of building it and maintaining it, so you have to be 100% certain before making any decision.

Before You Add a Swimming Pool to Your Property

Installation Costs

Adding an in-ground pool will require a sizable amount to install, and that's not including additional elements like swimming pool fences, landscaping, permits, and other necessary expenses. The cost of installing a new swimming pool ranges from $14,000 to $66,000, depending on its size.

Maintenance Costs

Maintaining a pool is no picnic. In addition to utility costs for filling it, you also have to account for pool chemicals to keep chlorine levels, cleaning costs, inspecting equipment for proper function, and more. The ongoing maintenance may not be worth the investment if you cannot maximize its benefits, especially since you will also have to purchase expensive equipment to make the pool operate efficiently.

Safety Risks

As the property owner, it's your job to ensure that the swimming pool is in good condition. Pool safety is your top priority, which means ensuring that the pool deck is clean, building barricades and covers to avoid accidental injury, and including other safety features. This will not only ease pool liability concerns, but prospective tenants will also appreciate the safety measures you implement.

Swimming Pool Laws

You need to familiarize yourself with the relevant laws and regulations governing swimming pools. For instance, Prince George's County law requires that pool fences be at least six feet high. Don't forget to check specifications for local fence laws, such as the required height and materials for your pool fence, as well as local building codes to maintain a legally compliant rental property.

Landlord Responsibilities

Yes, other swimming pool responsibilities fall outside what you pay for. Maintenance costs are just one part of the deal. Other property management tasks include creating a swimming pool addendum in your lease agreement to ensure the lease legally covers all relevant matters. You will also need to acquire a landlord's insurance policy for personal liability protection, as well as install pool alarms to ensure it remains secure.

Location

A rental property with a pool can easily attract higher-quality tenants, but only if it makes sense to have one. The increased rental value is not the only important factor. Since Indiana tends to have hot summer months, tenants would appreciate a rental property with a pool. Furthermore, this also means that the added property value can be high due to seasonal demand.

Target Market

Some tenants are wary of a rental property with a pool. Parents, in particular, may not be fond of the swimming pool area due to the risks it poses. Even if your rental home is compliant with pool fence laws and other pool safety measures, you still can't keep tenants safe all the time. Think about who you intend to rent to before adding a pool to prevent wasted investments.

What Property Owners Need to Maintain a Pool

Pool Cover: You need to cover the pool whenever it's not in use to prevent dirt and gunk from falling in. It would also promote safety when no one is keeping watch.
Pool Filter: The filter helps owners maintain the pool. Without a filter, you might have to clean the pool more frequently due to dirt buildup.
Heater: This is optional, but many landlords install heaters so the pool can be used all year round. It might add to your utility bill, but it adds appeal to your investment property.
Pool Vacuum: You will need a pool vacuum to clean the floor, even with pool water present. You won't be able to do this with normal vacuums, even wet/dry ones due to their limited length and capacity for water.
Power Washer: Since pools contain water, you can expect issues like green algae buildup, even on the floor around the pool. A power washer can help you clean it efficiently, although a brush would work just as well.
Pool Chemicals: The chemicals will disinfect your pool and prevent algae growth. The usual substances used are chlorine and bromine, although some property owners simply put saltwater in to reduce maintenance tasks.
Water Testing Kit: This helps you test pH, chlorine, alkalinity, and other levels that need to be regulated to keep the pool safe for swimming.

Rental Property Swimming Pool FAQs

Are landlords responsible for maintaining property swimming pools?

That's usually the case for shared swimming pools in multi-unit properties. However, that doesn't mean you can't educate tenants on how to maintain the pool properly.

Does a rental property with a pool attract more potential tenants?

That depends on your target market, location, and the type of property. Single-family homes with private pools in hot areas tend to attract tenants with families, whereas tenants in multifamily dwellings may be reluctant to use a shared pool. Consider all essential factors before adding a pool to your rental property.

Can I maintain my pool on my own?

Yes, as long as you do your research and follow the manufacturer's instructions for the equipment. Some tasks may require professionals, so you will have to do them at your own risk.

Can landlords charge higher rent for properties with swimming pools?

Yes, especially since having a pool increases your expenses, both in maintenance costs and utilities. To generate positive rental income, charging more is necessary.

Why Hiring a Property Manager is Beneficial

The financial benefits of having a pool can quickly be outweighed by the responsibilities that come with it. Between coordinating maintenance tasks and ensuring compliance with local laws, professional property management may be the solution to your problems.

CRM Properties can assist you with day-to-day operations, whether or not you decide to add a pool to your rental property. Our property management expertise can help you maximize the value of your investment, as well as navigate local laws to keep you out of financial trouble.

Let us help you with your rental business! Call us today, and we can discuss the services that can help you reach your investment goals.