“Should I rent my property long-term or as a vacation rental?”
“Should I rent my property or sell?
The long-term vs. short-term debate is one of the many reasons property owners on the Big Island come to us with, and for good reason. Empty properties cost money, but knowing exactly what to do with your empty property can be daunting. One of the ways to figure it out is to determine what the rental potential is for your property in each scenario.
Setting the proper rental rate for a property is critical in reducing the time a property sits vacant, costing you money instead of earning it. Many factors come together to influence the perfect rental rate or "Goldilocks" amount, such as:
Set the rate too high, and you risk a property that sits vacant for months. Set the amount too low, and you lose money on your investment and potentially lose out on market-savvy renters.
Hawaiian Dream Properties can help! We guide rental property owners on the Big Island on how to set the perfect rental rate for their property with our free rental analysis. There is no obligation to you. We will meet with you to learn the specifics of your property, then prepare a report for you.
Don't lose out on good tenants—or earn less than you should on your property! Sign up for your free rental analysis now.