Owner Frequently Asked Questions
- Why should I use a professional to manage my home?
- Why should I have Young Hawaii Homes, Inc. manage my investment property?
- Can I choose to disallow pets, smokers, large families, etc.?
- How do you select a tenant?
- I want you to manage my property. What do I need to do now?
- Do you provide me with a report of activity on my property?
While the reasons our clients choose professional management vary, here are some of the key reasons many people elect professional management over self-management:
- We handle maintenance and emergency repairs, allowing you to sleep at night.
- We collect the rents and serve the proper notices upon failure to pay.
- We keep abreast of and apply the correct federal, state, and local laws, keeping you and your investment out of trouble.
- We know the local market, have an extensive network of contacts, and have resources available to us at discounted rates. We also advertise on various websites and search engines that are free to the owner. This allows us to effectively market your vacant home to prospective residents to get it filled.
- After you add up the increased rent we can often command, the discounts you'll receive on advertising, and the company rate we get on repairs, you'll often make more money than if you managed the property yourself!
We make owning a rental property simple with our proven management processes. Your property value will be enhanced, and you will have peace of mind.
Young Hawaii Homes is owned and operated by an experienced team who works hard to serve owners and investors by controlling costs and minimizing vacancies. We are able to show properties after business hours and on weekends to get your property rented quicker.
We comply fully with the Fair Housing Act. This means that you cannot choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal. After November 1, 2013, we will be allowed to collect a pet deposit (but not for a service animal).
If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.
We select a tenant based on the rental application and credit check. We meet with the tenant to discuss the information on their application. We generally require that the tenant makes three times the advertised rent, or has a qualified co-signer or guarantor. We contact the current and previous landlords. We collect an application fee to run a credit and criminal background check.
Properly screening the tenant helps to ensure that the rents will be paid on time and that the tenant will keep the property in good condition.
We are honored that you have chosen Young Hawaii Homes, Inc. as your property manager. These are the forms and items we will need from you:
1. The Property Management Agreement
2. Addendum A: This addendum gives us the property information and your personal information.
3. W-9: This form is to verify your social security number.
4. Lead-based Paint Disclosure form: This is required for all properties built prior to 1978. If you have any information about lead-based paint in your property, we need that paperwork.
5. Liability Insurance information: You must have liability insurance on your property, naming Young Hawaii Homes, Inc. as "additional insured."
6. General Excise information: You are required to pay the State of Hawaii a general excise tax of 4.5% on Oahu (4% on other islands) on all gross rents. If you need assistance in obtaining a general excise number, please contact us.
7. Bank account information: If you would like us to deposit your monthly net rents into your bank account, we need that information.
8. Keys: We need 3 sets of all keys and fobs and 2 garage remotes. We keep one set in our office.
9. Other: We need a copy of your Association House Rules. If you have any warranties on appliances or termite treatment, we need that paperwork also.
Yes, we will provide you a monthly report of rent and other income received, and maintenance, repairs, and other expenses incurred. This will be provided once per month. If you have questions regarding your statement, please do not hesitate to contact us.