When it comes to counting the standard amenities of a rental property in Baltimore then, a pool tops the list. Renters or tenants look for certain amenities in a rental property and they prefer the property that has a pool. If you are an owner of a rental apartment with a pool in Baltimore or anywhere in Maryland then, you have something very goods in your hand. A pool is a desirable feature in hot climates and this can help you earn good rent money. But, maintaining a property with a pool is not an easy task. Also, there are many things that you need to consider before handover the keys to your tenants.
A rental property with a pool can be a great appeal to your property for certain tenants. They might envision them having a pool party with their friends or, helping their child to learn swimming, etc. Plus, the best advantage of having a pool in your rental property is that you can charge a higher rental amount. But, as a landlord, it is difficult to manage the different aspects of renting out a rental property in Maryland. A pool requires a surprising amount of maintenance so, if you have a pool then, you will have to keep it well maintained. Maintenance of the people is not only related to the looks of the pool but, the hygiene and safety. So, there are many important things that a landlord should consider before handing over the keys of the rental property with a pool to his tenants.
You Might Be Liable For Injuries Or Even Death
Yes, this can happen in your pool. What if someone drowned in the pool? The person could be anyone- the guest of your tenants, the person who is cleaning or maintaining the pool, or anyone who has entered the pool without permission. This could happen so, what you need to do is having a fence surrounds the pool, that has a self-locking gate that locks. And if not this then include a pool cover that latches and alarms whenever there’s a movement near the pool.
Pay Extra For a Swimming Pool Liability
Every landlord must have homeowner’s insurance policy that can cover the liability for a certain degree. So, being a landlord you should also have the home owners’ insurance policy and if you own or planning to purchase a rental property with a swimming pool in Baltimore then, you will have to buy additional insurance coverage for the swimming pool, because of the accidents associated with the a pool. For this, you can call your insurance agent, as he can advise you on this.
Difficulties In Finding Tenants
You will face too many challenges in finding the tenant for your property. This can take a few weeks or even a month, because there are people who search for a property with a pool but, then there are families with kids or older people, who are comfortable in renting a property with a pool. So, you might have difficulty renting to those groups if you have a swimming pool in your rental property.
Maintenance of your pool is very much important to keep that lovely shade of blue in your pool. Also, it is not easy to keep your swimming pool well maintained. It needs a lot of things like vacuuming, skimming, adjusting chemicals, cleaning the filters and chlorinating. This will increase your expenses too. You can do it by yourself only if you have adequate knowledge or experience in cleaning and maintaining the pool or you can simply hire professionals for this. The professional will clean your pool. And if your tenant is experienced in maintaining and cleaning the pool then, you can let your tenant to the job but, only when you are satisfied that he knows what he is doing.
Add A Swimming Pool Addendum In The Rental Or Lease Agreement
This will not only help you to protect yourself from the liability but, this will also help you to educate your tenants about their responsibilities for the swimming pool. Add the swimming pool addendum in your lease agreement that you and your tenants will sign. Inform your tenants about their responsibilities or duties for the maintenance of the pool. It’s important to inform your tenants that they should immediately inform the landlord if something is wrong with the pool or the fence surrounding it. Also, inform the tenants that they will be in charge of repairs for any damage occurred by them.
Though it is tough to maintain a property with a swimming pool or can be risky due to liability issues, this can also be the reason for you to earn good rent money. If you think you are not experienced in maintaining a property with a pool then, you can rely on Property Management Companies in Baltimore that can help you to maintain both your property and a pool in the best way.