Southern California has great weather most of the year and having a pool for your Long Beach rental can be an asset to keep your tenants happy during the warmer months. Many first time landlords may be nervous about buying a rental house with a pool. Many fear the liability that comes with renting a house with a pool and other experienced landlords shy away because of the maintenance cost. Below you’ll discover ways to make the pool in your rental property be an asset.
Having great weather nearly year round gives value to having a pool in your rental property. Pools can be a strong reason why a tenant decides to rent your property especially if they enjoy hosting parties, barbecues, or any gatherings during Summer.
Of course, the size needed for a pool can be a challenge for the standard lot sizes in Long Beach. Many Long Beach properties are on a 5,000 sqft to 6,000 sqft lot. Having a pool could take up the majority of the back yard, possibly reducing the number of potential tenants.
The costs associated with a pool can feel like an unwanted expense to many landlords looking to buy a rental property. Maintenance costs and an increase in insurance premiums are a few of these expenses. Many of the costs can be offset by passing them to the tenant. For example, you could stipulate maintenance needs to be handled by the tenant. Another option is to bundle the maintenance cost and increase in insurance to the rent. Whichever direction you decide, make sure it is clearly specified in your rental agreement as you want to ensure that your asset is taken care of properly because no one wants to pay for pool repair due to neglect of a pool.
If you feel your rental property needs to be more competitive in the market, adding a pool to your rental could be the right choice. The average cost of building an inground pool is between $50 - $125 per square foot. This is about $35,000 to $65,000 depending on size of the pool and material. Though the price can seem steep at first this addition will open the market to renters that may be overlooking your rental previously.
A popular alternative to traditional pools are above ground pools. These are far more affordable with total installation costs being between $1,800 - $ 8,000 depending on the size and depth of the pool.
Making sure proper safety measures are implemented is important to keep your tenants secure and happy. Property safety measures will prevent accidents, injuries and reduce your liability. Some of the measures to consider are:
Keeping rescue equipment within the pool area such as life rings, rope and other safety equipment. The equipment should always be accessible and visible in case of an emergency.
Place signs with rules prominently. These rules should include that children must be supervised at all times, no diving in parts of the pool, and that the pool is at the person’s own risk. Make sure the signs are clear, visible, and posted in multiple locations in the pool area.
Installing a fence around the perimeter of the pool is a great safety measure. Make sure the fence is at least 4 feet tall and designed in a way that can’t easily be climbed by children and has an automatic closing and latching gate. If you’re wondering what material is best suited,
check our article about fencing.
If you have any further questions about costs to add a pool or if a pool can be an asset to your Beach City Rental call us today (562) 888-0247 or fill out our
free rental analysis to see what your rental could yield today.
