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The term “rental pool” refers to a type of contract that involves a sharing arrangement, much like timeshares. Multiple parties divide up the use of the rental property as well as all related expenses and maintenance. Rental pool arrangements intend to increase the number of days that a property has occupancy, so that everyone in the agreement gets the most out of it.

There are some tax benefits that come along with a rental pool, and the tax law says that fair rental days (where rental income can be taxed) are only the days that a property is rented out, not the number of days that a home is available to be rented through the rental pool arrangement. Rental pool arrangements are also not limited to real estate. They can apply to natural resources like water, where individuals in certain areas want priority access to water stored in wells or reservoirs. You can also have a rental pool for objects like appliances or even computer and video equipment.