Question for Hawaii Property Managers

[Rob White]

Aloha,

I currently manage 4 of my own rentals here in Hawaii, and going to begin my RE license course in the next few days with the intention of becoming a SFR property manager.

I'm curious if any current or former property managers working in Hawaii have any tips/guidance for someone entering the business. 

Also, seeing as I must work under a broker, I'm curious how property managers are paid i.e. Example: 10% fee is paid by the homeowner. How much of that 10% goes to the broker and how much (usually) does the property manager receive? Or, are some situations salary based?

Thanks for your help!

[Loren Clive]

Aloha, Rob. I'm on Maui, too, and a real estate broker and former property manager. Typically property managers are paid a salary to manage a portfolio of clients that the broker already has and are considered employees and receive benefits accordingly.

@Jin Lim what do you mean "independently"? Brokers are not going to pay you a salary unless you're managing a porftolio of 50+ properties. You do not have the liberty to refuse taking on additional clients as an employee.

FYI, many brokerages will not let you manage your own property as it increases liability and raises E+O insurance rates. Also, most brokerages will not let you do property management without prior experience. 

Good luck @Rob White for delving into PM!