All Forum Posts by: Joni Chin

Here's the link to the code (HRS) https://cca.hawaii.gov/ocp/hrs-chapter-521/

Landlord/Tenant Handbook(2022): https://cca.hawaii.gov/ocp/files/2023/05/2023-Landlord-Tenan..

This page also has links to the handbook as well as HRS code and other info: https://cca.hawaii.gov/ocp/landlord-tenant/

 I self manage my own rental here in Hawaii as well as in AZ, if you have any questions or need advice feel free to contact me! 

Joni 

@Nick Gagel

So currently they paid rent July 12 through August 11, correct? So you could either just have them pay on august 12, a prorated amount that would cover rent through the 31st of August. Then they pay for full month of sept on Sept 1st.

Or a more complicated option is they would pay on august 12 to cover rent through sept 11 like usual, but pay rent again on September 1st but it would be prorated, and the prorated amount due would be for sept 12 through the 30th. Then they would start the next rent payment on October 1 for the full month. But I think the 1st option is easier and less confusing. :)

If it’s hard for them intially, you could just split the payments up for September, have them pay 1/2 if the rent on sept 1st and the remainder on Sept 16th. Then from October 1st make it for the full month.

I know, I rarely am on here now, due to lack of time. But even more so since theres no app on my phone, so Im missing out.It was just a lot easier to just click on the app when I had a spare moment :( 

I hope it will be available for iphones again soon. I almost want to go back to my old phone!

Same here too. I just upgraded to iPhone 13 pro today only to find out I can’t access the bigger pockets app anymore because it’s no longer available in the App Store and I can’t open the app on my new phone although everything else migrated just fine. . It’s so much easier to have the app. I’m disappointed because the mobile website isn’t as “mobile friendly”.

@John Morgan

Hi John, PM sent too :)

@Tyler Henry

Like the others have said, the lowest priced condos in waikiki are the ones sitting on leasehold land. I was a realtor way back in the mid-80’s when many of the waikiki condos were on leasehold land. Over the next few years many of the landowners sold the land to the condo associations and in turn each condo unit owner purchased their % of the fee interest. But not all did-I can’t remember how it all played out years later, back then the lease rents were so cheap like $10 a month but every time they were “renegotiated” the new rates were much higher. I remember the condos lease rents back then listed as renegotiating in early 2000’s —that seemed so far off and expirations were in 2035, 2040 etc. —most of my clients eventually either sold the property or or bought the fee by the time I left my real estate “career” (I wish I stayed in!—but I had moved on to my next “business venture”- owning and running a retail store. Wish I never sold the waikiki condo I lived in back then either—it’s selling for $450k plus today. Unfortunately being young and impatient and wanting to start a new business I sold it for $165k two years after I bought it for $65k)

Today, the vast majority of condos are on fee simple land —same goes for homes. It’s rare to see leasehold homes now but back when I was selling real estate, it was quite common. I remember one of my clients had a home in Hawaii Kai —at the time I think he paid around 180k (leasehold) for it, and bought the land under it when it was offered for around $15k a few years later, (and complaining about the cost!) but had he waited a few more years, the price would have been 50k plus. Today that same home is worth around 1.2 million.

We don’t have the crazy appreciation like the Bay Area in California but our real state market here has been a steady increase year after year of around 6%-8% on average. In the last 20 years our own property has more than doubled, nearly tripled in value when we had it appraised almost 2 years ago. (20yrs ago we paid 300k +250k to build new home, in January 2019 it appraised at 1.5 mil)

So basically Hawaii real estate is a good investment for appreciation but I invest out of state for rentals (cashflow) and for flips. I’m priced out of the market here but if the right investment came along and I had funds to invest hell yeah I would here too!

@Pete Silan

I think you should check with your CPA and see which would be more advantageous for you, as well as which is best for your family.

Personally I think it’s better to keep ownership of property, and that was the better option for us.

Another word of caution is make sure that your daughter knows the landlord tenant code for your state as well as fair housing laws. My daughter who lives in one of the units has high “expectations” of tenants and roommates which is good, but I’ve had to stress to her there were certain things we could not do, regardless of her personal feelings or annoyances.

I probably should mention some of the “cons” we have experienced although I would say the vast majority of our college student tenants have been great, there were several who had a shorter term lease (thankfully) that were a little problematic. :)

Among those, we have dealt with a couple of “helicopter moms”, a few roommate incompatibility “issues”, tenants leaving furniture behind (this can be good or bad) burst pipes (!) and one tenant (not a college student) in the studio who got a little behind in rent during Covid and developed some annoying habits and caused a little “drama” before moving out (we took rent owed out of security deposit) But over time we added clauses to our lease and we learned to deal effectively with the other situations to avoid repeats in the future. We now require all tenants to have rental insurance, including our own daughter. There is a higher turnover, but we also have had students who stay for 2-3 years as well.

@Pete Silan

Hi Pete,

Both of our rental properties we have came about as a result of our children going out of state for college, and knowing there was no way for us to cover the cost of tuition and living/dorm expenses for them. We have a 4/2 + 2/1 duplex + studio addition in Arizona and another 4/2 (+1) SFR in Oregon. 3 of my 4 children lived there during their time in college (after freshman year) and it's been a great investment overall with very few headaches or damage over the last 6 years, even after COVID happened. We still have one living there who will graduate in the spring, and it has been a good life and "work" experience for them as well. We have done both individual room leases as well as one lease per dwelling unit.

We intend to keep them for a little while, even after our remaining child graduates, as it has worked out well for us!

At the very start we did 1 yr individual room leases, though we had some as school year leases from August 15 to May 15th from time to time. Even then (at least up until this past year with COVID and schools going online) we literally had times where one student was moving out the day after graduation, while the very next day we had another student waiting to move in after moving out of their dorms. So very little vacancy! Even this year we have been very fortunate as we have had responsible students that know our expectations and the leasing terms. And in most cases we also have the parents signing a financial responsibility form or sign as co-signer on the lease. From the very start we have required payments be done electronically (Zelle), or by direct deposit into our bank account—but during the last 3 years we now require all payments to be done via Cozy, which makes record keeping so much easier. Our children while they live there act as the “resident” property manager, but they do not handle any of the rent collection or security deposits. But they are responsible for showing the property, doing some “pre-screening”, relaying maintenance/repair requests, yardwork, cleaning, and doing some simple maintenance/repairs.

We actually purchased both properties from thousands of miles away, while my son went to view the properties with my realtor, and was also there in my place for the property inspections/walk through before closing.

So you really do not need property management, even if they aren’t moving in yet they can be your “boots on the ground”. Plus it will give them a good learning experience in being a good tenant or a good landlord in the future! :)

@Zachary McDonough

Most of my tenants are college students and I use Cozy. I use Zillow rental manager sometimes for advertising my rentals and they have a similar service. I might even switch in the future, but for now I’m very happy with cozy. Most of my tenants have all their payments set up on autopay, i rarely have to text reminders anymore.

@Marc Estepa

Hey Marc, I sent you a PM. Been through it before and I’m in Hawaii. I can also give you the name of attorney we used.

Joni