Renting A Home
Frequently Asked QuestionsWill I be charged an application fee? Generally speaking, application fees are not common on O’ahu, though some companies do charge a small fee to cover the credit and background check process. What’s the difference between a Condominium vs. Town Home? In Hawaii, “condominium” generally refers to high rise communities or apartments where you are likely to have a neighbor next to, above and/or below you. “Town home” generally refers to low rise communities where each unit originates on the ground level; two stories at most. What are Hawaii’s Fair Housing laws? The Federal Fair Housing Act and Rehabilitation Act of 1973 (Section 504) and Hawaii Revised Statutes Chapter 515 makes it illegal for a residential property owner, REALTOR®, property manager or housing provider to discriminate because of sex, race, ancestry, religion, color, disability, age, marital status, familial status or HIV infection. How do I find a list of property managers? The Hawaii Chapter of the National Association of Residential Property Managers® is one of the largest and most active chapters of professional residential property managers in the U.S. Their roster of Hawaii property managers is the perfect place to find a property manager. What’s the difference between furnished, partly furnished, & unfurnished? Generally, the definitions of these descriptions are as follows: Furnished – a full complement of furnishings which is likely to include linens and dishes. Partly Furnished – this category does not imply any furniture but does indicate that you should expect appliances to be included. Unfurnished – this category implies that you will need to furnish you own appliances. What about pets? Finding a rental property for you and your pet can be challenging on O’ahu. A number of landlords & property managers will not allow pets in the properties they are offering for lease. The Hawaiian Humane Society provides a list of pet friendly buildings as well as a pet friendly rental search engine. Are their rules that govern the rental process? The relationship between the landlord and the tenant is governed by the Hawaii Landlord Tenant Code. How much will my security deposit be? In Hawaii the total amount of all deposits may not be in excess of one month’s rent, and in most cases it will be equal to that amount. Collection of the last month’s rent is therefore not allowed. Indeed, the security deposit, unless agreed to in writing, may not be used as the last month’s rent. Once the lease is ended, the Landlord has 14 days to return the deposit to the tenant or provide an itemized list of charges including receipts for any amounts not returned. The landlord or property manager is not required to pay interest on the security deposit. Will I pay tax on my rent? The property owner must pay Hawaii General Excise Tax for rent received and in some cases may pass this on to the tenant. If so, this will be stated in the rental agreement. A rental that is less than 180 days is also subject to Transient Accommodations Tax which may also be charged to the tenant in the lease. Is it better to rent vs. buy? Decide for sure that renting is a better idea than buying at this time by calculating the difference financially. Income tax considerations and owner occupant property tax exemptions can also make buying more attractive. Rent vs. Buy Information |
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