Maui Condos

The market seems to be quite strong and values are continuing to climb though not back to the high a few years ago. Now is a good time to be looking at that Maui investment property or your second home. A lot of people who are purchasing condos in Maui are planning on using their new Condo as a vacation rental. Some things to be aware of is does the property you are looking allow vacation rentals as many do not. You also need to be aware of what the monthly AOAO fees are that cover your portion of the monthly expenses needed to take care of the entire property in many Condos this can be several hundred dollars each month. When renting your Condo, you have a few choices that you can make you can have a local company manage your property so they will keep a percentage of the rental monies that come in, they will charge for any upkeep, they typically keep track of the taxes due every year often they will charge you for rentals coming in others ways. Something that has been very popular and has worked very well for owners is using company’s such as VRBO vacation rental by owner. Countless numbers of the vacationing public prefer to rent their vacation rental direct from the owner the entire web site is turnkey and quite easy to set up usually about one day gets you up and running. The site takes credit cards from renters which is automatically deposited into your bank account.  Your site has a calendar that shows what days are available, the rate, all amenities, pictures and allows you to describe in detail why someone would want to stay in your piece of paradise. Lastly through VRBO the renter has safety features when booking and also travel insurance if something unexpected comes up. Some other things to be aware of is you will eventually need an on island contact person listed on you website and in any correspondence sent to your renters. This is just in case any emergency comes up while they are on island  the state has not enacted this yet but it is coming at some point.

Aloha for now and Mahalo for reading my blog.