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I'm looking at purchasing a home to fix up and rent in Hawaiian Parks, so I wanted to see if others had experience with this rental market? And if so, how strong is the demand?
Because of the location, I'm guessing there would not be very much vaca rental demand for that area (the house is near the top, closer to Pahoa), or am I wrong and there is demand for vaca rentals in this area?
If not, how is the local rental market?
I don't see many other houses advertised on Craigslist, etc., so I'm guessing that demand is strong and anything available goes quickly, or there is little to no demand. Thoughts?
And Mahalo to Punaweb and all the regulars here who have taught me so much about BI and Puna...
Aloha,
Chris
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Craiglsist is not very utilized for long term rentals here, the local paper is more representative. If you live on the mainland, Hawaii requires that landlords have an agent in state to represent them. Many rentals are handled by just a few property management companies, there is an old thread here that talks about the pros and cons of the different companies, which might be worth digging up and reading. I would call a few of these companies and ask what they charge to represent you, and what rents you would be likely to be able to charge. If they think they might become your agent they will be more willing to talk to you.
Carol
Carol
Every time you feel yourself getting pulled into other people's nonsense, repeat these words: Not my circus, not my monkeys.
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quote:
Originally posted by csgray
If they think they might become your agent they will be more willing to talk to you.
Just be careful, some of those companies charge you a monthly fee regardless of whether your property is rented or not, and they might not do much to get it rented either!
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
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Typically Tropical Properties
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My take on it is that the market is flooded for both rentals and sales. Lots of empty houses just sitting. Be careful.
I want to be the kind of woman that, when my feet
hit the floor each morning, the devil says
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I want to be the kind of woman that, when my feet
hit the floor each morning, the devil says
"Oh Crap, She's up!"
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Chris,
There are lots of vacation rentals in the HPP area (ours included...) but I'm not sure I'd recommend owning/operating one while you're thousands of miles away. All those management/cleaning/maintenance expenses will add up quickly, and you may end up subsidizing other people's vacations. I also think renters take better care of the rental when they've communicated directly with the owner and know that he/she is nearby.
Rich
I have a small vacation rental in the Volcano area. I take care of it myself, including the cleaning. If anyone has an idea of how I can get some mainlanders to remove their shoes in the house, I'd love to hear it. I have one of those "Mahalo for removing your shoes" tiles on the front door and a printed sign inside but still they wear their shoes inside. Also rolling luggage on the floor which leaves scuff marks and also has chipped door molding into the bedrooms. Some renters are great and will even strip the beds. But some . . .grrrrrrr!!!
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as a landlord, i would say the long term market is also saturated and the pool of good/qualified tenants are spotty unless you get a recommendation. also the further out from hilo and the lower the rent you can charge. its a tough investment for landlords during this market.
Noel
http://noelmorata.blogspot.com/
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rentals always tough.... especially now as so many were bought as investments & second homes. I am back in the market in Maui - its a buyers market as all the rentals are hitting the market as foreclosures
prices half of what they were in 2007
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quote:
Originally posted by Mauka
Also rolling luggage on the floor which leaves scuff marks and also has chipped door molding into the bedrooms.
I have rolling luggage because I can't carry it. Now steering it, with your hands full of other travel stuff, upon arrival or departure, is difficult. But after dragging things through airports and in and out of rental cars, I'm betting many are just too tuckered to do anything but grit their teeth and drag stuff once more into the house so they can start the real "vacation" part.
Life goes on, with you or without you.
Peace and long life
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Always surprises me the stuff folks bring - for a one week vacation. It seems to be a gender deal. Me - my backpack usually enough.
Bullwinkles rule - if you cant lift it - you cant bring it
