2016 Rental Outlook
DARLENE HIGA (RA), MPM, RMP
Property Profi les, Inc.
President, Oahu Chapter
National Association of Residential Property Managers
Darlene A. Higa (S) MPM, RMP, a Realtor and property manager with Property Profiles, Inc., has been installed as the 2016 President of the Oahu Chapter of the National Association of Residential Property Managers (NARPM). She has earned her RMP (Residential Management Specialist) designation as well as the coveted MPM (Master Property Manager) designation. Only a handful of property managers in Hawaii hold the MPM designation.
The rental market for 2016 should continue to be strong. Rents are projected to remain at an all-time high with dwindling supply and pent-up demand. Prices have increased, but tenant incomes have not, so there is still a cap on what landlords can charge. Pricing will become extremely important as landlords compete for those well qualified tenants, according to market forecasts.
We are noticing a lower turnaround time between tenants, especially when the unit has been returned to the landlord in a professionally cleaned condition. Some landlords have made professional cleaning a requirement in their contracts, again allowing for a smoother transition between tenants.
The NARPM Oahu Chapter, founded in 2004, is consistently one of the top three chapters in the nation with over 240 members. The Oahu Chapter consistently offers education not only to their own members but also to other real estate professionals and is a source of information for the public.
Monthly, luncheon meetings typically feature speakers addressing a broad range of subjects including legal issues, medical marijuana, comfort animals, economic forecasts, rental screening, security deposit issues and more. Real estate agents who are not NARPM members are welcome to attend up to two meetings per year.
One of the more popular seminars is held annually and targets non-licensed homeowners who rent and manage their own units. The seminar, commonly referred to as the “Mom and Pop” Seminar, will be held on August 16, 2016. The allday event, which is also attended by real estate agents interested in learning more about the rules and regulations relating to property management, includes an array of speakers concentrating on the Landlord Tenant Code and related property management issues and procedures.
The Oahu Chapter also participates in community service projects annually. In November 2015, numerous members offered their sweat equity to help clean and spruce up facilities across Oahu that help children and support families.
NARPM was founded in 1988 and has approximately 3,000 members nationwide. NARPM property managers have heightened expertise and industry knowledge to assist them in doing the best possible job. They are real estate professionals who know first-hand the unique challenges of managing rental property in today’s constantly changing economic and legislative environment. Professional Members must be licensed real estate agents but there are other levels of membership, such as Support Specialists, inclusive of administrative staff, and Affiliate Members, which includes vendors supplying services to the industry.