Our rental house has a pool, how much more should we charge?

4 Replies

Our first rental property will be the home we have lived in for eight years. It has a pool and will be the one and only rental on the market in our area with a private pool. So I have no comps to judge by... Approximately how much more should I expect to charge?

You might need to search a little farther away to get a good idea. Also, call some of the larger property management companies and ask for an opinion. You don't have to commit to them. Simply tell them you are considering renting out your house, give them details, SF, age, features, etc and ask them what they think the market will bear. Once you have an idea, put it on the market. Good luck.

@Fallon Pollard - I would also have a good sit-down with your insurance company and lawyer to discuss liability and instructions that need to be drawn up on your lease.

Definitely figure out who is going to have responsibility to maintain the pool (probably will end up being you...tough to expect tenants to take proper care of it, just make sure you build that into your lease).

Originally posted by @Fallon Pollard :

Our first rental property will be the home we have lived in for eight years. It has a pool and will be the one and only rental on the market in our area with a private pool. So I have no comps to judge by... Approximately how much more should I expect to charge?

 I would consider selling the property if it was mine. If you didn't already own this house would you buy it to rent it out? The likely answer is no, so go ahead and sell it and if you want to have a rental house use that money to buy a better rental property. 

We looked at a house that had a pool and ended up passing for liability reasons. I would definitely take Alex's advice and sit down with a lawyer and insurance company. I'd also be very strict during the screening process to find a top notch tenant. Maybe you can find someone that's had a pool before...