Hawaii Property Management Podcast With Duke Kimhan podcast

Hawaii Property Management Podcast with Duke Kimhan

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Mind The Business: Small Business Success Stories

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Understanding Taxes as a Newly Formed Small Business - Part 2 of the Small Business Starter Kit 28:24

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In our second installment of the Small Business Starter Kit series - we’re tackling a topic that’s sometimes tricky, sometimes confusing, but ever-present: taxes. Hosts Austin and Jannese have an insightful conversation with entrepreneur Isabella Rosal who started 7th Sky Ventures , an exporter and distributor of craft spirits, beer, and wine. Having lived and worked in two different countries and started a company in a heavily-regulated field, Isabella is no stranger to navigating the paperwork-laden and jargon-infused maze of properly understanding taxes for a newly formed small business. Join us as she shares her story and provides valuable insight into how to tackle your business’ taxes - so they don’t tackle you. Learn more about how QuickBooks can help you grow your business: QuickBooks.com See omnystudio.com/listener for privacy information.…

Hawaii Property Management Podcast with Duke Kimhan

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Specializing and serving the Island of Oahu - Duke Kimhan provides you with all the latest updates, tips and tricks about how hiring a Property Manager can save you time and money.

24 episoder

#First #Buyer #Rental #Tax #401k #Residential #Home #Land #Sales #Duke Kinham #Once Upon a Time #Podcasting Education #Video #Investing #Property #Exchange

Hawaii Property Management Podcast with Duke Kimhan

updated for 8 år siden

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Specializing and serving the Island of Oahu - Duke Kimhan provides you with all the latest updates, tips and tricks about how hiring a Property Manager can save you time and money.

24 episoder

#First #Buyer #Rental #Tax #401k #Residential #Home #Land #Sales #Duke Kinham #Once Upon a Time #Podcasting Education #Video #Investing #Property #Exchange

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Hawaii Property Management Podcast with Duke Kimhan

1
How Do We Handle Water Leaks in Your Property?

for 8 år siden

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Water leaks are one of the biggest pains we have in the home rental business. Here’s how you can avoid them before they even happen. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent Water leaks are probably the most menacing opponent we face in the home rental business. If you’re a homeowner/investor, I highly suggest getting additional rent loss coverage on your home for this specific purpose. If you end up having a big leak, you’ll have to bear the full brunt of it most of the time. If we have a flooded unit, we have a tenant who can’t reside there. We will then have to immediately dry the unit out. However, that process takes three to five days to complete. During that time, you won’t be collecting any rent. Half of our leaks result in insurance claims. About half of our leaks result in insurance claims. The sooner we can get to them, the better. If you end up having to lose rent for a month or two, it will be offset by the money you saved by having that extra insurance. If you have any questions for us or you’re thinking about investing in real estate, give me a call or send me an email. I look forward to hearing from you.…

Hawaii Property Management Podcast with Duke Kimhan

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Should You Allow Pets in Your Rental Home?

for 8 år siden

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You can choose whether you want to allow pets in your rental property. Here’s what we recommend. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent One of the most common questions we get from homeowners is if they have to allow pets in their rental home. The answer is no. It’s totally up to you what kind of pets, if any, you will allow in your home. However, keep in mind that eight out of 10 people in today’s market have pets. Especially when rent is up a little higher and families are out there looking. Most families have one or two children and one or two pets. It just comes with the territory. If you do choose to allow pets in your home, our addendum helps protect you. We’ll go inspect the property every four months and look for pet damage, as well as any other damage. We’ll send you pictures of any damage, as well as a picture of the pet in the home. Our addendum protects you from pet damage. We don’t take our pet policy lightly. We’re here to protect your home and put money in your account. If you don't want to allow pets, that’s fine, but just know that you'll be missing out on a huge part of the market and it might take us longer to find a tenant than normal. If you have any other questions for us, don’t hesitate to reach out. We would love to hear from you soon.…

Hawaii Property Management Podcast with Duke Kimhan

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Landlord or Tenant. Who Pays for Pest Control?

for 8 år siden

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If a tenant leaves food out in the house and a rodent problem develops, who is responsible for pest control: the owner or the tenant? Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent Pests can be a formidable adversary. Their job is to come into your house and find whatever food and water they can. That’s why pest control is an incredibly important subject for tenants and owners. As an owner, it is totally optional to carry pest control through the lease period of the tenants. That said, our addendum states that pest control is covered by the tenant. Pest control includes rodent control. The owner has no control if tenants leave out food, which attracts pests—so they should not be held responsible. If rodent control is an ongoing problem mentioned in the owner’s interview, I would recommend that you continue to carry rodent control in your house. The owner is not the one who attracted the pests, so the owner does not incur the costs of pest control. Rodents are brought in by food not being stored properly in the home. So, as I mentioned, since the tenant is the one who attracts the rodents, they are the ones responsible for the costs of rodent control. Although pest control is important, I would say that 90% of my homes do not have a rodent problem. If you have any other questions about pest control or would like to learn more about how we take care of your investment properties, just give me a call or send me an email. Feel free to check out our site as well. I would be happy to help you!…

Hawaii Property Management Podcast with Duke Kimhan

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Hawaii Pacific Property Management Helps Owners "Clean" Up On Rent

for 8 år siden

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Our move-out addendum ensures that your property is always in good condition. Here’s how it works. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent The Hawaii Landlord-Tenant Code is a 29-page document that spells out all the expectations for owners and renters. Here at Hawaii Pacific Property Management, we add an additional 14-page addendum to our rental contract called a “move-out addendum” that we wanted to talk to you about today. This addendum states that the tenant will get professional services to clean the home and leave it in the same condition it was when they moved in. To ensure this, we require tenants to sign the agreement up front before they move in. We also require them to provide receipts for any carpet cleaning or maid services they use. This way, there are never any questions about the condition of the property. It will look the same each time a tenant moves out. We protect your home and put money in your account. We do two things very well: We protect your home and put money in your account. If you need help with either of those things or have any questions about real estate in general, give me a call or send me an email. I look forward to hearing from you soon.…

Hawaii Property Management Podcast with Duke Kimhan

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When Do You Get Paid for Your Investment Property?

for 8 år siden

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As the owner of an investment property, how do you get paid? I’ll explain the process today. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent One of the most common questions we get is, “How do I get paid?” It’s pretty simple. We collect rents on the first of every month. Hawaii has a “no grace period” law for tenants, which means that rent is definitely due on the first. It takes a couple of days to process the payment but thanks to ACH and the magic of online banking, our owners will get paid on the fifth of the month. We do all of the behind-the-scenes work to manage your property. However, the only thing you need to know is that we make the rent appear at no hassle to you. Rent is always collected on the first of each month. When you work with me, you don’t have to pay any money up front. If your property needs repairs, the cost will be taken out of the rent. Don’t worry—we don’t do anything without your permission, and you will be communicated with about everything via text, email, or a phone call. If you have any other questions about your payment or would like to learn more about how we can help you, just give us a call or send us an email. We would be happy to help you!…

Hawaii Property Management Podcast with Duke Kimhan

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How We Discern Between Wear & Tear and Tenant Damage

for 8 år siden

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Discerning the difference between normal wear and tear versus actual damage is a difficult but important part of property management. Here's how we handle it. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent How do you discern wear and tear versus damage in a rental property? Getting a property condition form filled out correctly is one of the biggest problems I face in my business. The standard property condition form is four pages and it's very extensive. We require tenants to fill out this form on their way in within the first 10 days of living in a unit. We then go back in on a 10-day walkthrough to remove your lock box and collect the property condition form. During that time, we walkthrough each item on the form that's listed as damaged or not working properly. Getting a properly filled out condition form is one of the toughest parts of property management. If we commit to the repairs during the 10-day walkthrough, they'll be repaired at the owner's cost. Wear and tear means things like scratches and scuff marks on the stairs, walls, and bathtub, dirty mirrors, and yellowing on the toilet. We have to determine whether it's wear and tear from living in the unit or damage from negligence by the tenant. Our job is to make that determination for our owners upon move out. We also do a six-month walkthrough to make sure the home is cared for, four months if the unit allows pets. We provide pictures of the walkthrough, guaranteed. If you have any questions about assessing wear and tear or damage in a unit or you're interested in our property management services, don't hesitate to give us a call or send us an email. We'd be glad to speak with you further.…

Hawaii Property Management Podcast with Duke Kimhan

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How Does Our Rent Guarantee Work?

for 8 år siden

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What is a rent guarantee and why do we offer one? I’ll explain everything today. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent When you work with us, I guarantee that we’ll pay an agreed upon amount if we don’t rent your property in 30 days or less. How do we do that? First of all, very few property management companies guarantee their work. We will look at your property’s area, present you with a market rent, and guarantee your rent at a certain amount. For example, let’s say your house’s recommended rent is $3,000; we’ll guarantee your rent at $2,400 or $2,600. There are many factors that go into renting your home. Until we actually look at the property, we don’t know how renting will go. We don’t know if the people who lived there used to bully the neighborhood, what the parking situation is, or if the house has pets. When we arrive at the house, we will look at all of those factors to determine whether or not we can rent your home. If we can, then you sign a contract that states that we will do everything in our power to rent your home. The contract also offers a rent guarantee, an eviction guarantee, and a communication guarantee. Many property management companies do not offer an eviction guarantee, even though they put the tenant in the property! If we have to go to eviction with a tenant, we will pay for that. We will also do a four and six-month walkthrough to make sure that your tenants are holding the line as far as your lease goes. We are here to make you money and protect your property. Our communication guarantee is extremely important. Many other property management companies can take a while to call you back if they call you back at all. We will give you an updated report each Monday to let you know how many people looked at the home, how many are interested in renting, and give you any feedback from the renters. You have three numbers to reach us: my number, your property manager’s number, and our 800 number that connects to all of our property managers. If you need to talk to us, someone will answer you, guaranteed. There are two reasons why I am here: to put money into your bank account and to protect your home. We promise and guarantee that we will do both of those things. If you have any questions for us, please don’t hesitate to give us a call. We are always happy to help you!…

Hawaii Property Management Podcast with Duke Kimhan

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Meet Your Property Specialists - The Nurre Team

for 8 år siden

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Today we want to introduce you to Ikaika and Julie Nurre, or as we call them, the Nurre Team. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent Ikaika Nurre is a property specialist who assists Julie Nurre for HI Pacific Property Management. He enjoys working our team's sophisticated management software system because of how efficiently it allows us to serve our owners. Julie is excited to be part of the dynamic team because of our focus on taking care of our owners. Not only do we take full care of our owners' investment properties, we put money in the bank for them. If you have any property management needs, don't hesitate to reach out to us! We'd love to work with you.…

Hawaii Property Management Podcast with Duke Kimhan

1
Filet Mignon For Property Owner With Rent Loss Insurance - No Hot Dogs!

for 8 år siden

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We recommend that our owners carry certain types of insurance coverage so they can maximize their investment property’s value. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent Free Insurance Quote One of the questions we get asked a lot by our owners is, “How much insurance should we carry on our home while we don’t live in it?” Today I want to delve into this topic to give you an idea of what owners and tenants can expect. The first thing you must do as an owner is notify your current insurance company that you’re not using the property as your primary residence. This is an important detail for insurance companies because that makes the property an investment property. After that’s done, we first recommend you take out a renter’s insurance policy that covers at least $10,000 in personal property. This is primarily to cover your appliances. This sum won’t be enough to cover a disaster like a wind storm blowing off your roof, but we’ve been fortunate enough in Hawaii to mostly avoid hurricanes and other storms capable of that kind of damage in the past 100 years. Your liability coverage will be $100,000, which is in place in case an accident happens on the property. The other thing we recommend for owners is to get loss of rent coverage. This is important because if there’s a leak or your home incurs some type of water damage, the tenants probably won’t be able to reside in it and pay rent. The loss of rent coverage makes sure you are compensated for the lost rent on your investment. As an owner, your liability coverage will be $100,000. What do we ask on the tenant’s side? We require all tenants to carry a renter’s policy , which is a simple renter’s policy to cover a minimum of $10,000 on their property, $50,000 in liability, and more if they have a dangerous pet. If they happen to have what we consider a dangerous pet, we ask them to cover $100,000. We also ask them to have loss of rent coverage in their policy so that policy will kick in if something happens to them and prevents them from paying rent. If your house has wood floors and experiences a water leak and the tenants can still live there but aren’t happy about it, the tenant’s coverage will take care of what they can cover, and the owner’s coverage will take care of the rest. We often see this situation happen with condos and townhouses. Depending on the insurance company, this will cost an owner anywhere from $100 to $300 and a tenant anywhere from $100 to $200. It’s a minimal cost, and we require it of both our tenants before they move in and our owners before they have a tenant reside in their unit. If you have any questions about this topic, please feel free to reach out to us. We look forward to hearing from you!…

Hawaii Property Management Podcast with Duke Kimhan

1
Messing With Deposits Could Send Us To Jail

for 8 år siden

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We do everything we can to protect our clients’ investment properties. One way we do this is by having renters sign an addendum when they move in. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent I’m here today to talk a little bit about the tenant security deposit and how the tenant gets that returned to them when they move out. We provide each tenant with a move-out addendum that they sign when they move in. There are a number of things that the addendum covers. Before moving out, tenants will have to: Have all carpets cleaned professionally Agree to a 10-day walkthrough Fill and patch any holes created by hanging pictures Remove all yard debris and garbage Return the property to the condition it was on move-in day Have a special carpet treatment if pets had lived in the home We want to make sure your property is in the same condition when a tenant moves out as when they move in. This is how we guarantee that your security deposit return will be 100%. We’re here to put money in your account and protect your property. Now, it is important to keep in mind that a house will have some normal wear and tear on it after a few years. Most of this stuff, like re-applying caulk around the bathtub, we require the tenant to do at their final walkthrough. This is how we protect your investment and it’s why we need to make sure your home is all clean before a tenant moves in or out. There are only two reasons why I’m in business. One is to put money in your account, and the other is to protect your property. If you have any other questions for me, don’t hesitate to give me a call or send me an email. I would love to hear from you.…

Hawaii Property Management Podcast with Duke Kimhan

1
How We Earn Our Management Fees!

for 8 år siden

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How do we earn our fees as a property management company? Here are all the things we do for owners to help them protect their investments. Find Out How Much Your Home Will Rent For in Today's Market Learn More About Guaranteed Rent This year has been great so far. Interest rates have gone up, so I commend those of you who have invested in property and chose us to help make your property more valuable. It was a smart move. A lot of people want to know about our owner fees and how we earn them when it comes to maintenance and finding tenants. We put a lot of work into these areas so that our owners and their investments are protected. Before we take over a property to manage, we first look at the appliances. If they need to be serviced, we take care of them. However, once the tenant gets in there, all bets on maintenance are off. People handle day-to-day living differently. Many times we’ll see a disposal overload or toilet backup. Doing the hard work up front allows us to find great tenants. Whenever something goes wrong, our property manager will contact the owner to see how they want to handle the situation. If they have a friend or family member that can take care of the maintenance, we will go to them. If not, we have our in-house vendors that we have approved and worked with in the past. We won’t repair anything for you without your permission, however. Another area of our business where we are really strong is our marketing. We make sure to take pictures and video of our properties each time a tenant moves in or out. We also push our properties to the major websites like apartments.com, Trulia, Zillow, Craigslist, and more. Some of those sites have been very strong for us in finding good tenants. We do background checks, credit checks, and criminal checks on all potential tenants. We believe in doing the hard work up front because once it’s done, we can foresee and chase out all the bad prospects or tenants we may get. Once we have a tenant, we do a four- or six-month walkthrough to ensure proper maintenance in the home. If they have pets, it’s every four months. If they don’t, it’s every six. In a nutshell, that’s how we earn our fees. We think we are more than worth our price, and many of our owners can attest to that. If you have any questions for us or you’re looking to invest in property here in Hawaii, give us a call or send us an email. We would love to hear from you.…

Hawaii Property Management Podcast with Duke Kimhan

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Meet Evan Miyaki

for 8 år siden

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Meet Evan Miyaki, another member of the Hawaii Pacific Property Management. Today we’d like to introduce another member of Hawaii Pacific Property Management, Evan Miyaki. Evan loves that our team is a high-integrity group with a commitment to communication. Evan primarily covers the metro Honolulu area. "Our team is committed to communicating with our clients." Another thing Evan likes about our team is our rent guarantee. Our rent guarantee states that if we don’t rent out your property in 30 days, we will pay your rent program. If you have any questions for Evan, give him a call at 808-721-3639 or email him at Evan@HiPacificPM.com. If you have any other questions, please don’t hesitate to reach out to us. We look forward to hearing from you!…

Hawaii Property Management Podcast with Duke Kimhan

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Meet Arlene Ichimura

for 8 år siden

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We’re back to introduce another great member of our team. This time we’re talking to Arlene Ichimura. It’s time again for us to introduce you to another one of the great members of our team. This time it’s Arlene Ichimura, a property manager here at Hawaii Pacific. Arlene’s goal is to provide excellent communication and customer service to our owners and tenants. What she likes most about working with us are the efficient systems we have in place, our ongoing training, and the support we offer. "Arlene’s goal is to provide excellent communication and customer service." Arlene covers the areas of Kapolei and Ewa Beach. If you have any questions for her, give her a call at (808) 721-7990 or send her an email to Arlene@hipacificpm.com. We look forward to hearing from you soon.…

Hawaii Property Management Podcast with Duke Kimhan

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How Our Move Out Addendum Benefits Us and Our Tenants

for 8 år siden

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For every home we lease, we have the tenant sign a move out addendum. This ensures that the property is left in good condition for the next tenant . Today we wanted to talk about an important part of our leasing contract: The Move Out Addendum. You see, every tenant that signs with us signs a move out addendum. This contract is an agreement that the tenant will leave the property in the same condition that they got it, specifically with regard to ensuring that the carpet and the interior are professionally cleaned, because this is the service that we offer to them. This addendum also guarantees us in writing that if the tenant has a pet, they will get special pet treatment on their carpets and deodorize the entire home so that there is no residue. “ We work to protect your home and put money into your account. ” In addition, this addendum gives the tenant the option of allowing us to professionally clean the home if they don’t want to do it themselves. That way, they don’t have to clean the house twice. If our tenant does choose to do their own professional cleaning and we get the receipt that things aren’t finished, however, we have the right to recall the service company, specify what they didn’t finish, and make sure the job gets done. Remember, we only work with two goals in mind: 1) to protect your home; 2) to put money into your account. If you have any questions about our move out addendum or anything else related to property management, please feel free to call us or shoot us an email. We look forward to hearing from you!…

Hawaii Property Management Podcast with Duke Kimhan

1
Meet Our Office Manager

for 8 år siden

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Priscilla Jacobo is our Office Manager. She wears a lot of hats to ensure that our business continues to thrive. We are back to introduce another great member of our team. Priscilla Jacobo is our Office Manager here at Hawaii Pacific Property Management. She actually started out as a tenant at one of our properties. She was impressed by our genuine character and how we took care of her, so she decided that she wanted to be part of our team. As the office manager, Priscilla handles all the bookkeeping, invoicing, and back-end tasks to ensure that we really take care of our owners and their properties. We are grateful to have Priscilla on our team. If you have any questions for us, don't hesitate to reach out by phone or email. We would love to hear from you!…

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