Turning Home with Pool into Long-Term Rental

[Jason G. Mcphee]

A few years ago I purchased the home my family and I currently live in. We got the home at a great price, fixed it up, added an in-ground pool and are looking at turning it into a long-term rental as we prepare to move again. We have owned a long-term rental before but never one with a pool. My wife and I have concerns about the liability and putting the pool maintenance in the hands of the tenants. We do have a large umbrella policy but I am looking for some thoughts/guidance from the group based on experience. Has anyone turned their home with a pool into a rental? Have you ever had liability issues from tenants? What did you do to ensure the pool was properly maintained to avoid large, unnecessary costs? Thanks in advance!

[Bill B.]

It’s been a non-issue in my 2 vegas rentals with pools. Rent includes pool service that I schedule and pay for. Insurance difference is undetectable. I think pools might actually add more value as a rental than when you sell. The two pool homes I purchased were the same price or cheaper than homes without pools, and that’s in Vegas with year round pool use.