Tenant Placement
Marketing
At RentVest Hawaii we specialize in making your property attractive to renters. We list the property on the most popular websites by syndicating the listing through our software. Our process is meant to ensure that the most possible qualified people will be clicking on the listing of your property. It is recommended that the listing photos be taken when the property is vacant and empty of owner furnishings, unless the unit will be rented WITH the furnishings. More on furnishings HERE.
Market Analysis
At RentVest Hawaii, we establish a rental rate that is not only going to fetch the upper end of market value for rent, but also be competitive enough to make sure it does not sit on the market unnecessarily. Many owners have a good idea of what they need to get out of rent to stay above water with all of their overhead – ie, Mortgage, HOA Fees, property and GE taxes, property management fees, etc. The sum of all of those overhead expenses may be a bigger number than what the property can get out of rent. It is extremely important to be realistic with the initial rental value that we list the property for. Before your property is listed, a market analysis will determine where to set the recommended rental rate.
Once its Listed
The first week of leads is extremely crucial in getting the property rented in short order. Sometimes owners want to get an unrealistic amount of rent (according to market norms) for their unit. When this happens, we end up wasting that precious first week of leads on a rental amount that won’t generate serious, qualified leads. We will list the property at the higher end of the market analysis, then inventory and assess the lead flow from there. If the leads are flowing, the home will rent for the listed amount. If not, we will lower the rental rate to match the market. Using our techniques and knowledge of the market, we will make sure vacancy of your property is absolutely minimal. Vacancy can be the most expensive overhead in Hawaii.
Tenant Screening
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.
Why are we confident we can place good tenants?
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.