This is perhaps the most important ingredient to successful renting. We consider this to be the most important part of our job. Simply put, we are looking for tenants who will: 1. Pay rent, and pay it on time. 2. Take care of and properly maintain the property. What more can you ask for? To achieve this, we dive deeply into the credit history, income source, rental and eviction history, pet history, and criminal background of each and every applicant. We use a third party private investigation firm to collect court documents and credit history of applicants. In addition, we personally call the applicants employer, former landlord or property manager, their listed references and verify income and identity by collecting paystubs, tax forms, bank statements, and identification. We then review all applicants and pick the most qualified based on these indicators. We practice and obey landlord tenant code for equal opportunity housing standards.

In most cases, especially single family homes, we recommend renting an empty home, except for appliances. It is Oahu rental market standard that all appliances, including laundry units, are included in the rental agreement and serviced by the owner. Other furnishings, However, such as beds, couches, etc. are typically best to not include in the rent. We want to “cast a wide net” for tenants. Meaning, we don’t want to drive away possible interested tenants, who have their owner furnishings (extremely common with military personnel). This is not a hard and fast rule, and doesn’t apply to Waikiki area, where tenancy is more transient and shorter term. Working together with your property manager at RentVest Hawaii, we will consult and recommend the best course to fit any situation.

In condos or high rise buildings, some utilities are included in the HOA fee. In this case, we would include those utilities in the monthly rental rate. Outside of that, utilities will almost always be a tenants responsibility. They will be required to put applicable utilities in their name upon move in. Between tenants, when the property is vacant, you as the owner will need to have utilities put in your name during that interim time. The easiest way to do this, is to contact the utility company and let them know you will be renting the property long term, and that between each tenant, you want to have the utility company revert the responsibility back to you as soon as a tenant quits service. This ensures that there is no lapse in service and the lights will be on during showings between tenants.

In some cases of multi-family units, utilities will be split by separate occupying tenants, or even sometimes with you, as the owner if you live on site. We are able to configure the lease and payments in whatever way is most practical for the owner.

The process of collecting rent and then distributing the funds to the owner is called the “owner draw” process. Rent is collected on the first of each month. Any outstanding maintenance bills will be paid to the vendors and then the owner draw will be initiated. Your funds will always be in your account between the 11th and the 15th of every month, as long as the tenant has paid rent on time. Your owner portal will then be updated with a monthly statement that details the income and expenses. You will have access to the portal 24 hours a day, 7 days a week. At the end of the year, you will be provided with a year end statement as well as an IRS 1099 Form which you can give to your tax professional.

RentVest Hawaii’s tenant lease is a carefully crafted document meant for the protection of the owner and the tenant according to the landlord tenant code. Lease lengths are negotiable with tenants but must be longer than 6 months in order to qualify for a long-term lease. Typically, a 1 year lease is the optimal starting point with a tenant. When the lease term is expiring, your property manager will reach out to you for the negotiation of a lease renewal as you consider your long-term goals with the property. Once the plan of action is determined, we will work to execute a lease renewal.

Our lease will typically require a tenant to be responsible for landscaping of the property as well as regular pest control. Circumstances may require other arrangements to fit the situation. Tenant responsibility for landscaping is all vegetation that is “head height” or lower. Such as grass, shrubs, low hanging branches from trees, gravel and garden areas, etc. Everything above head height is going to be the owner’s responsibility to maintain. We have great tree trimming vendors that service island wide, or we can continue to use your landscaper.

Upon Move in, we will meet the tenant on move-in day and turn possession over to them by giving them keys and completing a “move-in orientation”. The move in orientation consists of a walk through of the property while the property manager discusses house rules, lease terms, and proper maintenance of appliances, fixtures, and filters. A condition report will be filled out and filed away for reference at the end of the lease. To see a sample lease - click here