How to Rent Out Your Swimming Pool for Passive Income
Wish you had a swimming pool to dip your body in? Is your community pool closed? Or maybe it isn't but you want to be away from all those noisy swimmers? Well now there is an opportunity to rent a private pool from a neighbor. And it couldn't be easier. Considering how fast the sharing economy continues to expand, it was only a matter of time.
Review of Swimply
During the Coronavirus pandemic, many businesses closed down or went into temporary shutdown. However, new opportunities also arose. For instance, I read about a mobile bowling alley that functioned quite well out of a truck. The business proved to be very profitable. Seriously.
Swimming pools have always been a hot commodity. But with climate change and the pandemic increasingly forcing us to find new ways to cool down, pools are now just as desirable as hotel rooms. Not to mention at the time of this writing, public pools are largely shut down in many states.
Swimply is an app that allows owners to rent out their private pools to customers by the hour. It was founded by Bunim Laskin and Asher Weinberger. Asher got the idea back in 2018 when he bought his first house that included a swimming pool. When friends and family asked to borrow it, he started to create a schedule and a plan to help him avoid liability. The ideas started bubbling and it wasn't long before Asher and Bunim launched Swimply.
Over a year later, Swimply already has about 100,000 downloads and many thousands of listed pools. During 2020, the app experienced a 30x growth due to the pandemic. In addition, the app doesn't just provide pools for recreational use. Pools are also rented out for physical therapy, filming movies and even to test underwater drones.
How Much Money Can You Make?
You can make a surprising amount of income simply renting out your pool. Making over $10,000 in one month is actually quite doable. This depends on many factors, including the location, available amenities, the size of your pool, and how often you can get it booked.
Even when a pool is booked a small portion of the time, users of the app can still make enough income to live off of. In fact, I have a friend who only rents out her pool half of the month at about $40 per hour. She still makes roughly $1,500 per month. She's quite happy with that sum considering how little it's booked. Not to mention, her pool is quite dimunitive.
On average, the rental fees on the app range between $40 to $60 per hour. Ultimately, the choice is yours. However, aftering listing, Swimply's Host Care Team can further assist you with suggested pricing and tips to keep your pool booked and customers happy. Having said that, it's probably wise to start pricing lower and raise the rate as demands rises.
To be able to charge more, offer access to more amenties, like a diving board, a pool house or even better, a private bathroom. Though if a bathroom isn't available (it is optional), Swimply will coordinate portable ones. Just get in touch with the Host Care Team to learn more. Having said that, most hosts do offer restrooms since it allows them to charge more per hour and accept longer reservations.
How to Get Started on Swimply
As a host, your first step is to upload a profile photo so that guests know who they're talking to. Set your pricing, available booking times, add photos of your pool and list details such as amenties. Afterwards, your listing will go live. Swimmers filter searches by booking times and amenities.
Message guests and accept bookings through the easy-to-use interface of the app. Once you and the customer confirm a booking, your customer will receive info on the address and other instructions. In the rare case something goes wrong, Swimply's Host Care Team is there to help on every booking. They're open every day of the year.
Guests are charged upfront through Swimply's secure payment system powered by Stripe. Your payments are directly deposited to your account after every booking, minus Swimply's 15% service fee (to keep the lights on).
Swimply often advises hosts on what to do to ensure safety. For instance, during the pandemic, it was suggested hosts cap their maximum guests to 8 to prevent a virus spreader event. Eventually, Simply is adding a $2 million insurance policy to protect all parties involved.
For full income or just to supplement your current income, renting out your pool is as good of an idea as any. You can join thousands of other Swimply pool owners earning effortless money, while contributing to society by making others happy. Even when COVID-19 fully ends, it won’t mean the end of this hot market. People will always want privacy and a place to relax and cool down.
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