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Homes In Oahu Hawaii

You are here: Home / Archives for property management

How to Choose a Property Manager on Oahu

October 22, 2014 by Maureen Fukumoto Leave a Comment

We have lots of investors and property owners throughout the island, many of which either don’t live your full time or reside on the island at all. It can be difficult to decide who will manage your property in your absence but here are some things to consider when choosing a property management service on Oahu.

Questions to ask:

What are my responsibilities as the property owner and what are your responsibilities as the property manager?

How much does it cost to have the property managed and maintained?

Is there an initial cost for tenant placement as well as ongoing monthly management fees?

What expenses are tax-deductible?

In case of damage or repairs, do you have a list of resources that you refer to and may I see it?

How long have you been a property manager?

How many properties do you currently manage and you have assistance?

You want to make sure you use a local property manager that is familiar not only with the area and the neighborhood but local resources and referrals as well. You certainly wouldn’t want your property manager calling 10 different places to find the right plumber, charging you for their time.How to Choose a Property Manager on Oahu

You will also want to property manager with experience. Too many properties to manage without enough staff could mean that your property will get neglected or that your tenants will not receive service in a timely manner. Yes, it’s important for property managers to have a good book of business each month but too many properties without assistance or help could mean that your property and your tenant will be neglected. This could cause your tenant to be frustrated and move out, leaving you to find a new renter.

Customer service is also extremely important, not just to you but to your tenant as well. Yes, there are those renters that can become a nightmare but many renters are extremely upstanding people that deserve just as much customer service as you do. Make sure your property manager is courteous, communicative, and responsive timely manner, not just to you but to your tenants as well.

Talk to references. Ask about the property managers book of business and if you can contact current property owners. This is a great way to learn more about your property managers.

Understand exactly how fees and payments will be handled. Most property managers will collect rent on their own, and then deposit the leftover amount after their commission each month into your personal account. Make sure you get all financial agreements in writing and that everyone is on the same page.

Because we have dealt with hundreds of renters and landlords over the last few decades we know what it takes to be proper property managers on Oahu. If you have questions about property management services, please give us a call anytime.

Filed Under: Oahu Home Buyer Tips, Oahu Lifestyle & Events, The Latest on All Things Hawaii Real Estate Tagged With: oahu, property management, property management services, property manager

What’s going on in Property Management Land?

November 12, 2013 by Kinani Fitzgerald Leave a Comment

Adventures in Property Management Land 

There are a number of things that could go wrong in Property Management no matter how well you screen your tenants.  We are Property Managers and we don’t have the ability to see into the future.  The difference between a good Property Manager and a bad Property Manager is how we deal with the unforeseen problems.  I would like to share a recent adventure I had in Property Management Land with you.  The names and places have been changed to protect the parties involved.Kitchen

The owner of a property I manage in a very nice neighborhood had to change his counter tops.  He decided to go with Granite.  The owner lives on the east coast and his property is in Hawaii.  He went to purchase the granite on the east coast from a home improvement conglomerate which we also have in Hawaii.  We had great tenants who were aware that this work had to be done before they signed a lease.  After much debate and coordinating the installation began.  The work was supposed to take no more then 2 days.  Five weeks later, we let the tenant out of their lease.  The granite was installed just fine.  The problem was the store had allowed the granite installers to do the plumbing work as well unbeknownst to us.  Granite installers are not known for their plumbing skills.  The store charged the owner for a plumber.  Needless to say everything that could go wrong did. The brand new $400 sink didn’t fit, the dishwasher which worked fine before the install leaked all over the owner’s very expensive WOOD flooring.  The store finally got it right after 3 different attempts at a new dishwasher.

Now I was on the phone with the owner 5 times minimum a day.  We even joked we spoke more with each other then we did with our spouses.  Tenants were demanding food credits of $500+ a day for their family, which by the way doesn’t fly in Hawaii.  Owners are not required to cover food expenses of tenants.  The store was dragging their feet and wouldn’t return calls, which prompted me to be at their store in their face, demanding answers.

It ended well despite the drama we went through.  We let the tenants out of their lease and found new tenants who are delighted with the unit.  The old tenants found a place on the other side of the island.  The owner received from the store over 3x the amount the granite cost and a new dishwasher and sink.

I responded to every call, every request from the owner and advised him to get his insurance company involved as a backup in case they were needed.  This involved many late night calls and weekends spent fighting with the store.

A bad Property Manager will let the owners handle things themselves as they purchased the granite as this was above and beyond the normal scope of a Property Manager.  A bad Property Manager would also set perimeters of when they are available.  Let’s face it, as Property Managers, our owners and tenants alike don’t care if we want our weekends for ourselves, they want you available 24/7.  In situations like this, there is nothing more frustrating to an owner who works 9-5 and is thousands of miles away, not be able to reach their Property Manager.

Moral of the story, COMMUNICATE.  The owners have hired you to take care of their properties.  Treat their units as if it was your own!

By Kinani Fitzgerald

Filed Under: Property Management Tagged With: Oahu Real Estate, property management

How to Get a Good Property Manager

October 18, 2012 by T Emineth Leave a Comment

WHEN SEARCHING FOR A GOOD PROPERTY MANAGER

1)   Do your homework – Do a full background check on the agent you want to hire and the company they are with.  Look them up with the BBB & RICO (Regulated Industries Complaint Office)  You are entrusting this person with a HUGE asset of yours.

2)      Cost – What is this person going to do for his/her fee?  The more they do the higher the cost.  You want your manager to give you the most service for the least amount of cash.

3)      Inspections – A lot of property managers inspect units once a year.  This doesn’t help you if they’ve put a bad tenant in your unit.  You won’t know you have a problem until your place has been destroyed.  Look for quarterly inspections done by a property manager.

4)      Screening – Find out how the Property Manager screens potential tenants.  You want full credit & background checks done.  People with good credit tend to keep the units in good condition, pay on time & are less likely to skip out on a lease.

5)      Compatibility – If you don’t get along with the agent while screening them, things will not get better with time.  Your first impression is very important.

6)      References – Ask the agent for references from other owners.

7)      Properties – Find out how many properties the agent manages.  You don’t want to get lost in the shuffle if an agent is overwhelmed with properties.

8)      Experience – You want an agent with experience.  Remember this person is managing your home.

These simple rules will save you a lot of heartache and can also be applied when you are looking for an agent to sell your unit.  Remember, you are buying a service, do your homework!   

Filed Under: Real Estate News, The Latest on All Things Hawaii Real Estate Tagged With: landlord, property management

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About Hawaii Realty Pro

Hawaii Real Estate SpecialistsOahu real estate agent Maureen Fukumoto

Maureen and her team assists sellers and buyers in coming together over the right home and right price. With up to date listings, current market conditions and local information we are your full service source for all Oahu real estate.

For decades I have been assisting home owners sell their property quickly at economically. With licensed agents and brokers we can provide the same top quality service you would get from a fully commissioned Realtor or agent. We provide access to all the marketing and advertising tools needed to list and sell your Oahu Property.

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