Here’s my advice when owners ask me about hiring a property manager.
I get asked by homeowners all the time about the benefits of having a property manager. They often ask me if I would manage my own property or hire a manager to do it for me.
To answer this question, you have to answer another question first: Are you going to be an off-island or on-island owner? One of the statutes in Hawaii states that you need an on-island representative to watch over your property. If you’re off-island and have a problem, who are your tenants going to call? How are they going to get repairs done?
Hawaii is a tenant-friendly state. If you ever have to go to court against a tenant, you better be prepared. As a property manager, my job is to put money in your account and protect your home. To do that, I need a plethora of vendors, and I have to be on the island.
There are so many things involved in the process, and often when I transfer a tenant from another owner-occupant or property manager, they do not fill out their property condition form correctly. That’s a problem at move out. Nothing bad happens at move-in—the bad things happen at move-out. The less you’re prepared for move-out, the worse off you are.
So to answer the question, if I were you and I was off-island, I would definitely hire a property manager.
If you have any questions about this topic or property management in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.