Reasons Why You Are Not Getting a Property Manager for Your Rental Home
Finding the right manager for your Hawaiian rental property can solve major issues for homeowners, whether looking for tenants or looking after the legalities of renting. The Hawaii real estate market is busy, and marketing and dealing with potential tenants can be tough for the owner. It requires a lot of hard work and time, which is difficult for busy people. Managers make the work easy, and you need not worry about a thing.
If you face rejection from several companies and managers, you may be doing something wrong. The best companies, like Graham property management, get a plethora of clients and thus like to choose only the best properties to manage. Since they deliver the best from their end, they like to handle only the good properties. Well, this does not mean you cannot get a property manager at all. With little details in mind, you can put your affairs in order. Once you understand why your application is being turned down, you will be able to fix them and get the best manager in the market.
Legal and Permit Issues
If your property has some legal permission issues, a property manager might not take it up. Illegal additions are among the major reasons why several properties get rejected by managers. You can contact the department of permitting in your area and look at where the issue is. Try to solve it as soon as possible, and you will see acceptance emails pouring in.
Keep your legal documents and permission updated at all times. No one likes to manage or move into houses that have legal issues. It is one of the most important tips to find the best tenant as well as the best property manager.
Tax Issues
Houses that owe taxes or have ownership disputes are often refused. The best idea is to find out what taxes are owed and pay them as you can. If you have no idea about property taxes, read a guide to property taxes in Hawaii to get an idea. In the case of an ownership dispute, it is best to opt for legal help and take steps as your counselor advises.
Zoning Issues
Some properties do not conform to zoning requirements. Every area has its own zoning rules and regulations, and each property must follow them. Property managers drop houses that do not follow these regulations. Companies do not like to list problematic houses on their list. For example, you will never find a property with zoning issues on the Graham rental properties list. Such prestigious companies like to maintain their standard of business and thus only choose properties that have all their affairs in place.
Verify the zoning requirements of your area and see if your house conforms to them. If it does not, you might have to seek a special permit from the permit department. Professional managers prefer to handle only properly zoned properties.
No Parking
Properties that have no parking are difficult to sell to tenants. Therefore, they do not like to take up properties that come with no parking. If you can add a parking space, you might have better luck with property managers.
Maintenance Issues
An ill-maintained and outdated property is a liability for the owner and the manager handling it. Tenants are unlikely to take up such a home, and thus managers do not like to waste their time. When it comes to buying vs. renting property in Hawaii, most people choose the latter to get a well-maintained property at affordable rates. So why would anyone settle for an outdated and poorly maintained property?
You can repair the parts that require attention and update your home to attract tenants who will pay more for your property. You can paint the house, change floorings and windows, etc.
The market's best property managers take up houses with a great chance of attracting tenants. They also ensure you get the best price for your property. So if your house has not been taken by any of the good companies in the market, there is a high probability that it lacks something and will not fetch you a reasonable income from rent. Therefore, see what is making managers turn down your property and try to fix it. You can seek initial help from a local property manager who will be able to point out the issue. Once it has been located and fixed, you will find yourself the best property manager in the market.
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