What should be the value of a hot tub as it applies to a rental property?

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Michael_Co

I live in Colorado and I'm renting a house that has a hot tub that's on the lease. Problem is, the hot tub isn't working and hasn't worked since I've moved in. It's time to sign a new lease and I feel that I should be reimbursed for the broken amenitie. My question is how much should I ask for back?
It has been asked of the landlord that the hottub was broken since the get-go.

Answer
You won't get any reimbursement for the hot tub being broken if you didn't ask to get it fixed. DUH! Start by asking the landlord to fix the broken hot tub. If he agrees to do so, you don't have an issue. If he refuses, you may be in a position to ask for a rent reduction, but don't count on it being more than a few bucks a month.

I am considering puting in a pool and I want to know if adding the Hot tub is really worth the money?

Joel B

My wife and I live in Austin, TX where it can get pretty warm out. We know that we want to add a swimming pool to our back yard, but we are not sure about the spa. The spa will run an extra 7,000 to 9,000 dollars. Although we know that we will use it from time to time, we are not sure it is worth the extra cost.

One of my big concerns is the resale value of the home. Knowing that I will most likely only get back $.50 on the dollar if we ever sell this home, I wonder if the Hot tub will impact that price. When people look at buying a home with a pool do they see a pool in the yard or do they really take notice that their is a spa.

I guess my question is, will I actually see any more return on my investment if I have the spa built or not?

Thanks you in advance for your feed back.

Answer
yes it is in most cases
buyers look at thebig picture when they look at a home and pools add value. when they see a hot tub its anouther thing they can enjoy together and adds value. in there head they are adding pluses and minuses hey this one had a pool but this one had a pool and a hottub. its a bonus i live in florida and have a pool and my wife asked me to add a hot tube within 3 months of moving in and i live in florida.

pools generally add about 25k to the value of your home look at any appraisal and you will see homes without pools get a 25k deduction. and its all about how long will you hold the property if you plan on staying in it for 5 jor 10 years what would be the cost of a pool then and the gain will also go up.

anyone who says its a waste hasnt seen appraisals. i look at 20 appraisals a month averagage an many different states and have never seen simular houses one with a pool and one without and not seen a higher value on the one with a pool. hot tubs add additional value not to mention interest!!!

in any market its all about getting more buyers wanting your home at the same time.

we spend many nights drinking wine togethere and watching the sun set. I say go for it its worth the expense and the more buyers that place themselves in that hot tub the better for you when it comes negoation time.

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Title Post: What should be the value of a hot tub as it applies to a rental property?
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