Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all available deposit, investment, loan or credit products.
Pool ownership comes with a list of expenses — pool liner, pumps, hoses, chemicals, test kits, skimmers, brushes and more — but now some pool owners are making a six-figure income from their backyard swimming hole. Swimply, an app that allows owners to lease their pool at an hourly rate, has received over 122,000 bookings since the beginning of 2020, reported The Motley Fool.
See: Is a Pool a Good Investment?
Find: 7 Easy Home Renovations for $5,000 or Less
Roughly 13,000 pool owners in 125 markets across the U.S. are bringing in extra cash by listing their unused pool on Swimply, also dubbed the “Airbnb for backyard pools” on social media, according to The Wall Street Journal. “We’ve seen a lot of families [and friends] rekindling with Swimply,” said Bunim Laskin, Swimply co-founder and chief executive.
According to Asher Weinberger, Swimply co-founder and chief operating officer, hosts on average earn between roughly $5,000 and $10,000 a month. Most pool owners charge between $35 and $50 an hour, while Swimply collects 15% from the hosts and another 10% from the guests, WSJ added.
Related: How To Make Money on Airbnb
Disruptions to the pool chemical supply chain amidst the pandemic have meant chlorine shortages and price increases, leading to higher costs related to pool maintenance. Prices are expected to jump 70% this summer, according to financial analytics firm IHS Markit and as reported by The Motley Fool, after doubling in some places over the last year.
Swimply isn’t the only pool renting service. Peerspace, a peer-to-peer marketplace for booking space for events, meetings and productions, also offers thousands of spaces with swimming pools at hourly rates. Other short-term rental companies including Airbnb and Expedia Group’s Vrbo rent homes with pools by the day, as well.
Economy Explained: How Supply and Demand Impacts Your Wallet in Many Ways
Summer Fun: 5 Health Clubs and Gyms That Offer Senior Discounts
“With the heat rising, we see lots of demand for outdoor spaces, many of which have pools,” Matt Bendett, Peerspace co-founder and vice president of operations, told WSJ. With so much opportunity at their fingertips, can pool owners afford not to take advantage of such money-making endeavors right now?
More From GOBankingRates:
Last updated: July 26, 2021
Every day, get fresh ideas on how to save and make money and achieve your financial goals.
Sponsored Links by Zergnet
Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all available deposit, investment, loan or credit products.
Sign up for our daily newsletter for the latest financial news and trending topics.