Hi,
I am looking at single family homes in Houston and wondered if having a pool adds to the rent value and if it was worth looking for these properties.
thanks
In hot weather climates, it can add to the rent but marginally so…make sure that your lease has a strong paragraph about liability and I would suggest extra insurance! Make sure all of the local “pool requirements” (e.g., fences, gates, covers, etc.) are covered!
I had a house in the Phoenix area and a guy (actually a licensed agent) assumed my VA loan. The county changed the fence law about a year after he bought it (he lived in it a while and then turned it into a rental). He came back to me and whined that the fence didn’t meet the new code (although it EXCEEDED the old code) and said I should help him pay for the new fence…I laughed (still giggle about it when I think of it). What a freakin’ sleaze bag he turned out to be!!! Luckily, he sold it to a young couple (with sketchy credit) but they made EVERY payment ahead of time and refinanced after a year.
Ah, the life of a real estate mogul! LOL!
Keith
sounds like a huge liability hazard and for marginal increase in rent…forget it (IMHO). Remember you can not discrimate against renting to people with children and if a kid dies in your pool, you are probably a bad situation.
If you want to take the risk, there has to be reward. An extra $50 a mont in rent will probabaly not cover the extra liability premiums you will incur…so why do it.
Please listen to the guy talking about liability.
Ask an insurance agent about liability on a pool, trampoline, or pit bull and you will probably decide against all three.
Good luck,
Ray
yea. The liability is the first thing that came to mind when I thought about a pool on a property.
Just wanted to see what others thought.
No matter what you do now a days, you need to think about liability, even in my job working for the government fighting wildfires, we have a acronym for it:
C Y A
Cover Your A**
Just some food for thought.
Wld