If you’re going to rent a home out here in Hawaii, you’re going to need parking. Here’s why.
One issue that people often ask me about is whether or not they need to offer parking. Sometimes, investors can get a huge discount on a unit by not offering parking. On the rest of the island, however, there’s no parking unless you pay for it. There’s a parking shortage, as I’m sure most of you are aware.
If you don’t have a parking space for your unit, however, you can forget about renting that unit out. Where is your tenant or their guests going to park? Where will we park when we go to service the unit with a plumber or electrician?
“If you have a parking space, you have options.”
If you have an investment question about a parking space and if it’s worth it to add one, that’s a good idea. If you have a parking space, you have options. If you don’t, I probably won’t manage your unit because it will be so hard to show and find a tenant for your unit. The bottom line is that you need to have parking and no much is too much. Our island doesn’t have enough parking as it is. Do what you can to add more and you’ll reap the benefits.
If you have any questions for me in the meantime about your parking situation or anything else related to the management of your investment property, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.