Investment Property Manager Serving Haleiwa Hawaii

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Are you a real estate investor in Haleiwa Hawaii looking for fixed rate investment property management firm give us a chance to show you why we are the best!

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Whether you are searching for Property Managers in Kissimmee, Florida or Property Management Company near Beaverton, Oregon the consensus are that you should take a look us. With more than 30,000 tenants and over than 3,000 real estate investors in our porfolio across 6 states we are professional investment property manager in Haleiwa Hawaii! you can count on. Don’t matter if you have one rental property or two if have hired a rental property manager in the past you probably know by now that not all investment property manager is the same.

Great Things About Hiring The Right Investment Property Manager in Haleiwa Hawaii

When you are somebody who is presently investing in or planning on purchasing rental property, you have made a good decision. Be mindful that, managing property can be a round the clock job. It is certainly not a laid-back investment. That is unless you get a property management company. Below, we will be discussing a few of the advantages of working with an investment property management company for your investment property in Haleiwa Hawaii.

  1. Save Time: Probably the greatest benefit that comes with hiring a property management company to handle your investment property is related to the amount of time that you will end up saving. As mentioned, managing investment property could be a full-time task. After all, you will certainly be in charge of finding tenants, collecting rent, and even landlord duties. As opposed to having to concern yourself with this, you might simply outsource the management of your residence to a expert property manager in Haleiwa Hawaii to clear up some time that you can spend doing other stuff.
  1. Make use of Their Experience: A next benefit available from hiring a property manager for the investment property will be the power to leverage their experience. By employing a property management company in Haleiwa Hawaii that is local to the investment property, you should be able to get tailored and expert advice to help make your home a lot more alluring to renters. In addition to this, they are able to more efficiently promote your property in the neighborhood which may keep your property bringing in the cash-flow.
  2. Screening for Renters: The next best benefit gained from working with a seasoned manager to your property is being able to employ someone who is knowledgeable about looking for tenants. This is especially valid if you are looking to acquire long-term renters. You need to properly screen your potential tenants to ensure that you can hire a boarder who is not planning to leave your property damaged and that they will be able to make on-time payments. Having a skilled manager deal with this for you personally can certainly help decrease the risk associated with your rental property.

Ultimately, hiring a highly skilled property management company to your investment property can be a great way to make your investment a significantly less hands-on investment which could clear up time and help you save the anxiety of day-to-day management tasks. With that said it is important to ask about what is important to you during the hiring process. Or better yet, if have done some type of due diligence before the meeting. If you have additional questions, please, check out our blog. There you will find blog articles addressing subjects like property management El Paso and benefits of hiring an investment property manager in Haleiwa Hawaii, but better yet why don’t you give us a call!

Article of Interest to Those looking for Property Managers in Haleiwa Hawaii

Property Managers and Landlords: Are Smart Thermostats Right for Your Rentals?

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Smart home technology has become a sought-after amenity among renters for the convenience, security, and cost savings it provides. Smart thermostats are at the top of the list when it comes to home automation technology. As a property manager or landlord, how can you know if adding smart thermostats in your rental units will benefit your property’s competitive edge?

How do smart thermostats work?

Smart thermostats allow tenants to precisely control the temperature of the rental based on time of day, usage, and weather patterns to help save energy and lowering heating and AC costs. Smart thermostats are devised to automatically adjust temperatures based on the residents’ behavioral preferences and patterns. Smart thermostats can also be manually adjusted, allowing tenants to adjust and monitor the temperature of a unit remotely. They also provide property managers and landlords with more control over the energy outputs of the units.

Smart thermostats are relatively straightforward to install and compatible with most existing heating and cooling systems, making them a welcome upgrade that’s easy to integrate into rental units.

The benefits of installing a smart thermostat in rentals

Attracting and retaining tenants
Especially in competitive housing markets with many options for renters to consider, attracting and retaining quality renters can be challenging. However, rental properties offering smart technology is proving attractive to more renters of all ages. According to Buildium’s Annual Renters’ Report, 71 percent of millennial renters are more interested in units with smart home technology-enabled units. Fifty-five percent of baby boomer renters favor rentals with smart home technology, but only if it’s intuitive to use.

The data on smart thermostats shows that, on average, 32 percent of renters surveyed say that they would be more interested in renting a unit with a smart thermostat installed. The added bonus is the eco-friendly benefits that smart provide, a feature that appeals to more residents who are conscientious about living a sustainable and energy-conscious lifestyle.

Property managers hoping to encourage current tenants to renew their lease may be able to convince them to stay by offering to install a smart thermostat. The same Buildium report finds that 12 percent of survey respondents say they would be more likely to renew their lease if smart home technology was to be installed.

Raise the Rent

Additional data from the survey reveals that 23 percent of renters would be willing to pay higher rent for a unit with smart home technology installed. When you compare a smart thermostat to the top three unit amenities for which renters say they’d be willing to pay a premium (including in-unit washer/dryer, central air conditioning, and a balcony or private patio), a smart thermostat is much less expensive and easier to install. When considering upgrades to improve the value of a unit, we recommend that property managers first perform some market research to understand the potential a particular upgrade can justify a higher rent price based on how much people would be willing to pay for the added feature.

If you have existing tenants who are considering renewing their lease, you can add the addition of a smart thermostat to explain the upcharge in rent in your rent increase letter, and further explain how a smart thermostat can lower their utility bills and compare what they’d save in energy costs to what they’d spend in rent to emphasize your case. Utility companies will often do the analysis for you.

Lower costs for property owners who pay the utilities 

Property owners with multi-family residences who have no way to divide the utility bill among tenants, installing smart thermostats is an easy and affordable way to save some money. Smart thermostats can help make your units as energy efficient as possible and enable you to control the heating and AC remotely. Tenants who don’t pay their own utilities are less likely to be attentive when setting the heat or cooling temperature in their units. A smart thermostat puts you in control when it comes to monitoring temperatures and minimizing energy costs.

Additionally, energy isn’t wasted in vacant units since smart thermostats automatically expend less energy in unoccupied spaces. They can also provide you with an idea of total usage across your properties if you own more than one.

Initial costs

The most popular smart thermostats, such as Ecobee4, Emerson Sensi Touch, and Google Nest Learning Thermostat range in costs, generally between $130 and $249. Depending on the number of units to which you plan to add smart thermostats, the cost can add up. However, there are some great local and state energy efficiency incentive and rebate programs available to property owners for energy-saving devices. Before you make an energy-efficient purchase, visit the Department of Energy (DOE) website to search their database of energy efficiency tax credits, rebates, and savings available at the local and state levels.

While providing smart thermostats offers your renters the opportunity to save money on their utility bills, as a property owner you’re not saving any money. However, you can raise the rent on your units to defray the initial cost of your investment and at the same time, give prospective tenants an incentive to choose your property over your competitors and encourage current tenants to renew their leases.

If you’re considering replacing any major appliances or preparing to start significant renovation work, if investing in smart thermostats threatens to bust your budget, now may not be the time to install them. Go with those upgrades that your market tells you are most attractive to the highest percentage of renters.

Other smart home options to consider include smart locks or a smart security camera system, which renters also rank high on their list of preferred amenities. However, keep in mind that, not only do those options cost more to purchase and install, for security cameras you’ll want to make sure to consult with neighbors and familiarize yourself with local and state laws regarding security systems as these devices could impact issues of privacy.

Make the decision that’s right for your rental property

When it comes to deciding whether to install smart thermostats in your rental units, you know your budget and rental market best. If you don’t, we highly recommend working with a property manager who is qualified, understands your market’s demands, and is experienced in helping property owners make smart home upgrade decisions The right property management team can help you determine whether installing smart thermostats will boost your rental property’s appeal to renters and help boost its competitive clout among other rentals in the area. They can also help set fair market rent pricing, and assist with renovations.