Converting a Primary Residence into a Rental Property

There are a number of things you need to do, people to hire, and contracts to sign before your property is ready to be rented. One of the advantages of working with a property manager is that we take care of these steps for you! Contact us to learn more about our full-service concierge department. Read on for an overview of the steps to take and things you may need to learn to get your primary residence ready to rent.

Furnishings

• Will you leave your furniture at theproperty or remove some or all of it?
  • Also conider dishes and flatware, linens, curtains, etc
• What will you do about the artwork?
  • You coud leave it on the walls
  • Remove and replace with something else
  • Remove, fill the hole, and repaint the wall
• Take all your personal items our of the property.

Repairs

• You will want to have everything repaired before you rent or else the tenant will call and ask for the item or appliance to be fixed.
• Not doing so could decrease the tentant’s willingness to stay at property and renew the lease.
• Read about the importance of home maintenance at rental properties here.

Utilities

• What will you pay for?
• If it’s a house with a yard, will you pay for the yard? Tenants often don’t want to pay for that.
• How will payment be collected?

Animals

• There are 3 types of animals – pets, service animals, support animals.
• Allowing pets increases chances of renting quickly since a lot of people have pets.
• Service and support animals cannot be discriminated against and must be allowed at the property.
  • Are you well-versed with the laws?
  • Do you know how to vet the animal?
• Learn more about animals at rental properties here.

Marketing & Vetting Tenants

• We recommend at least 60-70 days to find a tenant because people plan ahead with their current lease ending.
• We also suggest you get professional photos.
• Do you know to know where to advertise?
• Do you know how to vet the tenants, do background checks, and credit checks?

Contracts, Vendors, and Payments

• You will need to have a property management contract,
  • Determine the fees that will be charged to PM company if you use one
• Do you know house rules/condo rules?
• You will have to pay gross excise taxes on rental
• Review your current vendors if you have them and/or the property management company’s and decide on who you’d like to use for any needs that come up during the lease.
  • How will repair requests be made from your tenant to you/the property manager?
  • How will monthly rent be collected?

We are Your Hawaii Rental Management Experts

One of the benefits of working with a property manager for your rental properties is that we take these tasks off your plate. Our full-service concierge department handles all aspects of property rentals, including pre-rental services. We perform thorough background checks to ensure our clients have the best tenants, coordinate vendor appointments, and perform regular property maintenance checks.

To learn more about our comprehensive property management services, click here or contact Doug at (808) 596-4883 or dougdavis@caronb.com. Visit our YouTube channel to watch our property management series, Ask Doug! in which Doug answers common property management questions.