The Swimply pool rental marketplace has created the ultimate scramble for homeowners. Spending over $100,000 to create the ultimate luxury outdoor living space is an investment some are willing to make. This is especially true if one can be sure that they will recover this investment quickly. Renting out the pool to friends and neighbors is a smart way to do this.
The pool rental concept
Swimming pool rentals are sweeping the country and the innovative online market Swimply leads the charge. Described as “Airbnb swimming pools“, Swimply debuted last year. According to the company, there are more than 20,000 swimming pools in all 50 states, as well as Canada and Australia.
After recently lifting $40 million in funding from the co-founders of AirBnB and Lime last year, Swimply is poised for massive growth through 2023. The service has quickly gained traction with consumers attracted by the ability to rent a pool by the hour.
Swimply’s business model is unique
In the sharing economy, Swimply, certainly deserves recognition for their offering. Provide a marketplace that allows buyers and sellers to connect and rent a swimming pool is at the heart of the company’s business plan. The model is simple, Swimply takes 15% of the booking fee from hosts and 10% from guests.
Swimply’s pool rental market can be lucrative for hosts and may not be as strange as it sounds. As water recreation facilities have been shut down by COVID for the past two years, Swimply has emerged to fill the void. Consequently, the company has grown exponentially.
We spoke with Swimply co-founder and COO Asher Weinberg last year about revolutionary new technology that connects landlords with an open market of consumers looking to rent a yard for a few hours.
Listen to our conversation on the Pool Magazine podcast:
The pool rental market has grown by 5,000% during Covid
After a soft launch in 2019, Weinberger quickly realized that audiences were thrilled with their offering. “There was a tremendous amount of interest and at the time we could only meet 10-15% of the demand,” Weinberger said. “It helped us lay the groundwork because we learned a lot about what people wanted and how they were using the platform.”
“We caught huge tailwinds in light of Covid and were up about 5,000% year over year,” Weinberger said. Since then, Swimply’s market has exploded with consumers seeking a safe recreational experience with friends and loved ones in an open outdoor setting. This has been true on both the guest side and the host side.
Homeowners are looking to monetize their pool
It seems word has definitely started to spread that renting your pool is a sweet new hustle. One man in particular recently made headlines after bringing in $177,000 just by renting out his pool and garden.
Jim Battan of West Linn, Oregon, said source of information“I like to say the pool has paid for itself and more. I built a man cave last year, and I give credit for that to my swimply pool as well.
Swimplement as a side shove
Being a Swimply host isn’t for everyone, according to Battan. Side hustle requires a fair amount of work from the host. Pool maintenance between guests involves much more than just laying out clean towels. His 26-by-18-foot swimming pool and pool house have cost him about $37,000 to maintain over the past decade. In a typical week, Battan estimates that he and his wife Lisa spend around 12-14 hours cleaning and testing water chemicals as well as managing all of their bookings.
“I love the income, but I usually caution people,” Battan told reporters. “Unless you’re retired or don’t have a job, it takes a long time to learn chemistry and swimming pool management. It is not enough to rely on a service once a week to come and see your belongings. I check my pool chemicals probably five to ten times a day. »
Renting your pool by the hour can be profitable
It is also important to note that the Battan Pool represents the best case scenario. Currently, it is Swimply’s top earner out of 25,000 pools in the United States, Canada and Australia. Average host incomes are between $10,000 to $20,000 per year.
Ned Gilardino is another high earner from Aurora, Colorado, who benefits from the lucrative side hustle. Last year he rented out his swimming pool roughly 500 times the compensation of nearly $50,000 In the process.
“Not only did the extra money pay for the cost of maintaining the pool,” Gilardino said. source of information“It actually generated a whole new source of income for my family.”
Owners looking for MSI (multiple sources of income) can definitely put Swimply on their resource list. Generally, most pools on the platform rent between $15 and $75 per hour. However, there doesn’t seem to be a limit to how much hosts can earn. We’ve seen pools in high-end areas like Beverly Hills rent up to $200 per hour. Those with luxury amenities in their backyard can obviously charge towards the higher end of the spectrum.
Customers can search for an ideal backyard in their price range to host a pool party and even filter their search to show properties with specific amenities. It’s easy to find a yard with a fire pit, an outdoor grilling area, or an area that allows pets. Swimply has simplified the selections with the ideal features that consumers are looking for.
The interface is simple and intuitive to use on both sides. Swimply also enabled owners to track their reservations, communicate with customers, and quickly get their pool rental on their easy-to-use marketplace.
Swimply’s contribution to the shared economy
While the shared economy is a young concept himself; The arrival of Swimply simply ushers in something that we will undoubtedly see even more of in the years to come. Although unexpected and a newcomer; one thing is certain, owners and consumers have embraced the concept of rent a pool by the hour.