All Topics / Help Needed! / IP with a pool

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  • Profile photo of Startinvestor101Startinvestor101
    Participant
    @startinvestor101
    Join Date: 2015
    Post Count: 2

    Having looked at several IPs in the area we are interested in, one of the them has a pool. This IP has been well maintained inside and out and would only really need a kitchen makeover so there are other positives than just the pool.
    What are people’s opinions on an IP with a pool?
    We would have it in the rental agreement that the tenants are responsible for the general upkeep of it

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Personally – I think it would be a big pain. Even if the tenants agree to maintain it – there will be some costs to the landlord (repairs, etc).

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    You might be better to build the cost of maintaining the pool into the rent

    Profile photo of PetePete
    Participant
    @pjewitt
    Join Date: 2015
    Post Count: 50

    As someone who has a pool that gets used only a couple times a year during summer, while having to maintain it all year round, in my opinion, unless you can find tenants that are specifically looking for a pool, it might be off putting to every other potential applicant.

    cheers
    Pete

    Profile photo of Andrew VoAndrew Vo
    Participant
    @guynextdoor
    Join Date: 2015
    Post Count: 5

    Having a pool is a great feature but not all tenants look for it in a home.

    So this may hurt your chances in finding the right tenants plus there are also the extra maintenance costs.

    Also it will restrict you in the future if you decide to extend or construct a granny flat at the back.

    Cheers,
    Andrew

    Andrew Vo | Home Loan Experts
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    Helper for investors and first home buyers throughout Australia.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    Having a pool is a great feature but not all tenants look for it in a home.
    So this may hurt your chances in finding the right tenants plus there are also the extra maintenance costs.
    Also it will restrict you in the future if you decide to extend or construct a granny flat at the back.
    Cheers,Andrew

    True, but if you get a tenant who wants a pool, they want a pool. We rented our PPOR with a pool to tenants who wanted a house with a pool. 7th anniversary of them being in house comes up next week.

    Profile photo of dtrain28dtrain28
    Participant
    @dtrain28
    Join Date: 2015
    Post Count: 27

    I currently rent a place with a pool. Prior to us moving in, the pool had to be drained and professional cleaned due to lack of maintenance while it was vacant. I’m sure the L/Lord is regretting the pool now, as it was a costly exercise.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Generally avoid properties with pools. Limits your potential tenants, extra maintenance etc.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

Viewing 8 posts - 1 through 8 (of 8 total)

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