Definition of Rental pool:
Rental pool arrangements intend to increase the number of days of use at a fair rental value. For example, with real estate the idea is to increase the number of days a property has occupancy.
A rental pool is a type of contract that involves a sharing arrangement. Typically, rental pool agreements, the terms of which vary, are commonly associated with real estate. The arrangements resemble timeshares, in that multiple parties divide up use of the property as well as any associated expenses, such as rent and maintenance. Timeshares can encompass a variety of properties, including homes, condominiums, and resorts.
Property sharing arrangement similar to time sharing. The parties involved share the use of the property as well as rental income and expenses associated with ownership and maintenance.
How to use Rental pool in a sentence?
- Rental pools are agreements between multiple parties to divide use of a resource.
- Rental agreements can be drawn to use other shared resources, such as water, to determine priorities of usage.
- Rental agreements are typically created in real estate for tax purposes because it enables participants in a pool to deduct taxes from passive income.
Meaning of Rental pool & Rental pool Definition