Having adequate parking greatly affects the value of your rental property.
Today I’m here to talk about something very important: adequate parking. In Hawaii, parking is the number one issue when buying a home. The first thing I ask homeowners is if they have any parking on their property. I need to know if it’s assigned, and how many spots there are. This will greatly affect the rent price.
A lot of people have a four-bedroom house with one parking spot. They justify that because they say there’s plenty of street parking, but that doesn’t count as assigned parking. If you have a home or a rental property that doesn’t have any assigned parking spots, we will not manage it. It’s just too difficult for our property managers to get in and out, for the tenant to come and see the place, for visitors and service vehicles to park, etc.
In Hawaii, having adequate parking is extremely important in the rental business. I have property outside of Hawaii, and I have noticed that it’s not as important in other places. However, here, parking is key.
If you have any questions about adequate parking, call me at (808) 445-9223 or visit my website here. I hope to talk to you soon!