09-13-2006, 07:33 AM
As a past landlord, any conveinent (to jobs, roads, public transportation) location will have good rental potential. Things to remember: highly desirable properties rent for more, but usually cost more (this is a duh hey, but some people forget this basic).
If you are looking at a property for strictly rental purpose, or at least as a long term rental, it is best to look very carefully at it as a LANDLORD. How easy is it to break things (this can/will happen, a sturdy structure will withstand rental use/abuse better than a more decorative one)? How easy is it to repair things, and try to think about how costly the repair could be (that toilet may/will overflow, what damage can that do to the rest of the structure)? How easy is it to maintain this property (ie. anything by the ocean will need frequent check ups, as the salt air does a number on many different things, esp. any metal, and any landscaping will morph into amazing things here if not tended to, etc.)? How much are you willing to budget for the maintenance, and what is your backup if something exceeds this budget (systems seem to fail in tandem....Peter Principle)?
What are you willing to put up with (renters can range from fanatastic to a nighmare you cannot get away from - and some can morph over time!)
As far as areas in Puna, along 130 from Nanawale through Pahoa and into Keaau are good rent potentials, along 11 from Moutain View all the way into Hilo (and of course Hilo) have good rent potentials. For up & coming neighborhoods, HPP, Orchidland, HA, FA, et al (all have good qualities, but have some considerations as a landlord, inc. lack of public services). For retreat type rentals, in WaaWaa, Kapoho, outer Kalapana (may be the best land for rental value right now, as long as the structure is mobile).
Choosing to be a landlord has a lot of responsibilities, and can have some significant costs. It is best to go into this with your eyes wide open & talk to & even work with a competant propoerty manager before purchase.
Aloha, Carey
If you are looking at a property for strictly rental purpose, or at least as a long term rental, it is best to look very carefully at it as a LANDLORD. How easy is it to break things (this can/will happen, a sturdy structure will withstand rental use/abuse better than a more decorative one)? How easy is it to repair things, and try to think about how costly the repair could be (that toilet may/will overflow, what damage can that do to the rest of the structure)? How easy is it to maintain this property (ie. anything by the ocean will need frequent check ups, as the salt air does a number on many different things, esp. any metal, and any landscaping will morph into amazing things here if not tended to, etc.)? How much are you willing to budget for the maintenance, and what is your backup if something exceeds this budget (systems seem to fail in tandem....Peter Principle)?
What are you willing to put up with (renters can range from fanatastic to a nighmare you cannot get away from - and some can morph over time!)
As far as areas in Puna, along 130 from Nanawale through Pahoa and into Keaau are good rent potentials, along 11 from Moutain View all the way into Hilo (and of course Hilo) have good rent potentials. For up & coming neighborhoods, HPP, Orchidland, HA, FA, et al (all have good qualities, but have some considerations as a landlord, inc. lack of public services). For retreat type rentals, in WaaWaa, Kapoho, outer Kalapana (may be the best land for rental value right now, as long as the structure is mobile).
Choosing to be a landlord has a lot of responsibilities, and can have some significant costs. It is best to go into this with your eyes wide open & talk to & even work with a competant propoerty manager before purchase.
Aloha, Carey