All Forum Posts by: Account Closed

@Drew Sygit 

Hey, I totally get where you’re coming from and appreciate the breakdown—it’s a solid reminder about how vacancy eats into returns.

But just to clarify, my initial question was whether my property manager was pricing the unit too low. And after speaking with one of the more experienced managers in their office, I felt validated—they actually suggested a rent higher than I was expecting. So this isn’t just a “newbie mistake”—I’m basing my number on what the unit offers and direct feedback from within the same management team.

I don’t think you’re seeing the full picture of what I’m asking here. I’m starting strong based on comps and guidance, but I’m not stuck on the number—I’m watching the response closely and will adjust if needed.

Also, to be real, I wouldn’t even be converting this to a rental if I wasn’t confident it could cover the HOA and mortgage. I’m not trying to get greedy—I’m just trying to make sure it pencils out responsibly

@Drew Sygit I don't think its wise to start renting a property that is below what my mortgage/HOA fee. I know I should be able to break even in Hawaii's market.

I don't think its wise to start renting a property that is below what my mortgage/HOA fee. I know I should be able to break even in Hawaii's market.

@Nathan Gesner Yes. I understand the additional fees for the PM, repairs, but don't want to start with a rental fee that is lower than my mortgage/HOA fees.

I am going to have my first rental property by June 1 and met with a property manager. I need $2,200 to cover my mortgage/HOA fee. She says 1 bed, 1 bath condos start at 1,800 a month and says to be honest a lot of people in Hawaii are negative in their returns since its so expensive. A comparable unit in my condo rented last year at $2,000. And a two bed rented for $2,300. Yet I have a coworker who is renting a 420 sq foot studio for $2,375 a month plus $80 for electricity not far from where I live. She also lacks a dishwasher, balcony, no view, no in unit washer/dryer and no guest parking. What would you rent my condo out given this information?