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We've been talking about building on our HPP lot sooner rather than later. The idea is to build a nice place (perhaps 2/2) and then turn it over to a vacation rental propoerty management company. We would use it perhaps 2 months a year until we can retire to the Big Island for good and take over the place.
A few questions: (1) Has anyone else tried this, and did it work? (2) Are there good property management companies in the area that can be trusted to do a good job of screening and taking care of the property? (3) What would a nice new home on 3rd Avenue (near Paradise) bring in the vacation rental market? I'm guessing a minimum of $100 a night. Does this sound reasonable?
Thanks!
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We did the same thing with our home on 5th....and we are now retired and living there. Built about 15 years ago. But instead of using a rental agency....we rented it out by word of mouth to friends and family only. We kept it rented about 6 months out of the year for most years. $100.00 a day is about right for most homes here (except oceanfront)...only we gave a weekly and monthly discount. It was very popular...considering the $300-$400.00 a day hotel alternative.
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I know of several people that do professionally manage vacation rentals. Which one would be right for you would depend on the property and the landscaping, amenities, decor, etc. For example, one that I know only does really high-end properties (but they manage them exceptionally well) while others will take more "basic" properties (and also do an excellent job doing that).
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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John,
Has Aloha ventured into management yet?
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This is very helpful! Thank you.
John, what are the names of these property mgt. companies?
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Not currently managing rentals of either the long-term or vacation variety, but we may reconsider that in the future.
HPP4me, I'll email you.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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Thanks, John. I look forward to receiving this info!
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Weird, I sent it through the forum...did you not receive it? Email me and I'll reply with the info.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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Look at this link:
www.vrbo.com
It will give you a good idea of what houses are renting for. We rented a house for 2 weeks in Nanawale, much better than a hotel!
Dot
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I have rented from the following:
www.hawaiianhomesvacationrentals.com
and from Mark and Ron at...
http://www.hpvacationrentals.com/index.html
Had very good experiences with both. (Thanks for the blender Mark!)
