All Forum Posts by: Account Closed

@Kaylee Pratt competence. There’s an ocean of agents out there, but very little agents who understand thoroughly multiple aspects of the industry. Competence in the industry is the first trait to seek in any sort of agency or consulting relationship in any market, not just RE. My opinion.

@JJ P. Yes, I think most PM or at least the ones who are "thinking" are having the same thoughts about our near future. This is almost uncharted territory we may be heading into but I'm putting hope in the genius that God (not being religious here) gave humanity that we will find a solution and use out creative abilities to weather this storm and also help others. This is why I'm grateful for this community! About the water, yes that is a real issue. Hopefully there will be some sort of funds allocated from this next stimulus that address this issue for landlords. It's the same here in Hawaii. We cannot shut off utilities to our homes if tenants qualify for moratoriums.

@Jennifer T. Wow! This is awesome! My extended family and I know a bunch of business owners here on the Island. I'm definitely going to send a mass email out big box stores, franchises and other smaller businesses regarding hiring and make a print out for tenants of business that are hiring. One problem I do know of that is becoming a cancer is people not wanting to go back to work due to them receiving unemployment; and with the schools shut down, kids are home all day and need a care taker, so most parents are choosing to not accept new work, which is illegal actually, and if reported they could lose their unemployment. This could be a strong motivator for them returning to work of some sort. I hate to pull that card, but unfortunately if they're not paying rent, I will. Very appreciative of this idea Jennifer! We will weather this storm!!

@Steve Morris First off, I love Les Miserables! haha! great example! Yes eviction is unavoidable in some cases, and it pains me deeply to even imagine to evict someone due to job loss, and ESPECIALLY if they have exhausted every available option out there. My mind wonders into places like, "where will they go?" ..."on the street?" ..."in a tent on the beach?" which mind you is not as luxurious as it sounds, as where there is poverty, there is always the darkest sides of humanity, and I only know this because I came from poverty... yes, here in Hawaii... the side they don't share with you on TV and magazines... its tough here for locals sometimes, especially in markets like Hawaii where affordable housing is limited, and the normal market rents are just way too high for single income families. All that ranting to say, yes I 100% agree tenants need to know the conditions of the lease that they signed, and if unmet, unfortunately, it may be time for them to move on.

This time in the world is actually deeply motivating me to start investing and networking to create more of an affordable market for locals here in Hawaii... which mind you will bring lots of road blocks as unions start putting their hands out for a piece of the profits! haha. But I absolutely love what @Brandon Turner says in his video about humanity rising up in the darkest hours and becoming more innovative and creative in finding solutions to problems! ok... not sure if that's exactly what he said, but it was somewhere along those lines, and it really gave me fuel and deep motivation to push through this time, and work towards an end goal for my investing strategies!!
 

Thank you all!!! Sorry if there's typos or ideas not making sense as I want to respond but have very limited time!

And would Love to hear more of what others are doing!!

Aloha,

-Tony

@Will Fraser thanks so much for taking the time to respond! I love your analogy about the universe coming into balance with bad tenants! Haha! Brilliant work by Brandon Turner as well, and as I’m just getting my feet wet into the investing side of RE I’m truly grateful or this network they have created and all the professionals willing to help each other out. It’s truly a gift to those who are willing to receive it and use it.

Aloha from Hawai’i Island!

We manage over 100 privately owned work force housing units here in Big Island of Hawaii.

At this time quite a few our tenants are on some kind of unemployment due to the shut downs and lack of tourism here in the islands (which hopefully will bounce back soon). For the most part we’re doing ok with with rent collection and are not strictly enforcing late payments as long as the tenants are communicating with us their unique situation and also what their plan is to obtain this months rent before next is due. We have also been diligent in sending printouts to tenants with info on rental assistance and different types of funding which are available for those who qualify. I believe this has helped us tremendously.

So far we’ve been blessed and have not seen much of a decline in our revenue, partly I believe because we have been diligent in working with each tenant on an individual basis.

My question is: what are some strategies and/or creative solutions landlords and PM companies are putting into place for tenants who are starting to fall behind in rent but are protected by moratoriums? Here in Hawaii our moratoriums end this month 10/31 but they’re still able to apply for the CDC and stay if they qualify.

Which leads to my next question. If Covid does not go away and this next stimulus is not as effective as we need it to be, what is some insight on a POTENTIAL larger scale eviction? Obviously I’m going to be heart broken if we have to put people out on the street, but we just can’t run a housing complex with no revenue, and if you let one person slide.. when does that train end?

I’d love to hear what others are planning or maybe some creative solutions others are putting into place to help tenants keep their housing or wisdom in the event of a tragedy such as evicting tenants who can’t pay due to the effects of the COVID lockdowns.

Grateful for any wisdom or insight anyone may have.

Mahalo and Aloha,

Tony