Late Fees

New Bill - Act 179 Effective November 1, 2017

Effective November 1, 2017, all new rental agreements or renewals will have to be sure to have late fees of no more than 8%. 

In the past, many companies may have used 10% or even a flat amount as a late fee. 

So if you are managing your own unit, or if you are a professional and have not been paying attention to the new bills that are coming out - please be aware that this is new and taking into effect as of November 1st of this year (2017). 

Amanda Frazier, R, RMP (RB-21435)

Cornerstone Properties

Property Manager and Chief Operating Officer 

Home Warranty Companies

Home Warranty Companies:

Some of our clients ask us what we recommend when it comes to home warranty companies such as American Home Shield. In my opinion, they're not worth it. They not only charge you a premium each year, but they also charge you per visit - whether or not they repair it, how much the repair would cost. and often give you a lot of hassle to replace an appliance. 

Typically, they will use vendors we do not know and cannot recommend - probably the cheapest vendor they can find. This has been our personal experience working with AHS. 

Also, our wait time on the phone is typically an hour or more. This is such a hassle, that we cannot guarantee using them, even if you have a warranty service. 

For example, we are at 4pm on Monday, a tenant calls about a leaking toilet - typically we would call our plumber to go out to the unit, it would be repaired by tomorrow and cost probably around $100. 

Instead, we are trying to get on the phone with AHS, but with the wait time, will most likely have to call back tomorrow during our business hours - and then wait for them to assign the work order - no telling how long that will take the vendor to go out and do the repair. 

AHS requires the person at the door to pay for the visit in order to receive service. Typically, we do not require tenants to pay for repairs unless it was tenant caused. This causes a lot of friction for tenants when we ask them to up-front the money, and then reimburse them.  Imagine if you were a tenant and had to wait for a repair then pay out of pocket. 

Personally, when I bought my first place, my Realtor as a kind gesture offered to pay for one year of warranty services through American Home Shield. I quickly declined the offer, knowing what a true headache it is.

The reality is that you won't know when you'll need to send out someone to do a repair on an appliance, electrical, or plumbing. But when that time comes, wouldn't you rather have quick service, and know who you're sending out to do the repair? I know I would rather have one of my preferred vendors go out to my property and work on my home. 

Amanda Frazier, R, RMP (RB-21435)

Cornerstone Properties

Property Manager and Chief Operating Officer 

Insurance

Both as a home owner, and as a tenant, you will want to make sure you are properly insured. As we see with the recent hurricanes sweeping our nation, you never know when you will need that insurance to kick in. 

Home Owners:
Some home owners think they are covered by their association/building's general overall policy. This is not always the case. If your property is a rental - you should always have your own policy. 

Usually, the main building policy will have a high deductible and will not always cover liability, etc. Check with your insurance provider and be sure that you are covered. 

As a professional Property Management company, we always require that our clients have their insurance providers add us as Additional Insured under their policy. This is standard business practice - if your current company is not requiring this, you may want to reconsider if they are a qualified, professional company. 

The reason we need to be added, is that as your representative, if anyone were to go after your insurance for a claim, they will not only go after you, but also the building, association, and us. Since we are representing you, we require this layer of protection. 

Tenants: 
For around $100 a year, you can get covered through renter's insurance. Renter's insurance can cover things such as your property if there is a break in; cost to replace food in your fridge if the refrigerator goes out; the cost of repairs to the unit if you are responsible for accidentally setting a house fire. Check with your current insurance agent whom you use for your car insurance, etc - they will usually give you a discount for adding on another policy. 

Amanda Frazier, R, RMP (RB-21435)

Cornerstone Properties

Property Manager and Chief Operating Officer 

The Current Market

For over a year now, many rental proeprties on Oahu have had to lower rental prices in order to get renters. Our market is directly affected by the military presence here - more soldiers and their families have been moved off island than have come in. In addition, new batches of housing have become available on base for those families that are here - which has significantly decreased not only the demand in the rental market but also the money available from renters.

Keeping a higher price means your property will most likely sit vacant longer. In the past when demand was higher than supply, we would get multiple applications for one property, and properties would rent in one to two weeks.

Today, when we show a property, we get feedback that the potential tenant is looking at 5-10 other units that same day/week, and we have seen many rentals sit for several months empty. It's rare to receive applications these days, and we are not the only company seeing this. This is being seen across the island for all types of properties and from all property management companies.

Having a nice unit in a good location will not be enough to get a good renter these days. Price is one of the biggest factors because of the large amount of inventory. Keep this in mind when pricing your rental unit in today's market. 

Amanda Frazier, R, RMP (RB-21435)

Cornerstone Properties

Property Manager and Chief Operating Officer 

The Top 14 Things Landlords Wish Tenants Knew

 (Taken from: http://time.com/money/3697636/landlord-tenant-renters-tips-advice/) 

In this business, it's a lot about people management more so than property management - communication is key, and knowledge is golden. 

An article from Money Magazine put it so well... 14 things Landlords wish their Tenants knew. Let's take a look at their insight:

"1. Pay your bills on time. Seems fairly obvious, I know, but many tenants believe they can pay every other bill before they pay the rent. Want to stay on our good side? Please pay your rent on time.

2. Always try to be polite. I will, too. Being polite and calm really does go a long way. You would not like it if I left you snarky or angry screaming messages on your voicemail. I know sometimes issues can seem to linger on and on, but we really are doing our best to get things resolved.

3. Listen to our instructions. We tell you things for a reason. If we show you how to trip a breaker or turn a gas valve off, listen. It may just save your butt. If we tell you there will be a hard freeze tonight and to please let your faucet drip, don’t call us the next day and complain that your pipes have frozen and you need to do laundry. I can’t control the weather, so you will just have to wait until it warms up.

4. Help us. We try to take care of our properties, but we can’t be everywhere all the time. Is there something we need to know about? Tell us. Is something broken? Let us know. Help us by being our eyes and ears.

5. Tell the truth. Did you or your kid flush something down the toilet and stop it up? Then tell us the truth so we can get the problem resolved as quickly as possible. After a dozen years in this business, we can almost always determine the culprit anyway.

6. Please just leave me a message. If we do not answer your call, do not hang up and call over and over again. There are times we simply cannot take your call. How do you think we are going to feel when we finally answer you after you have called five times in a row? It had better be a matter of life or death.

7. Understand that we have a lot going on. Sometimes other tenant’s issues may take priority. We know about your issue, and we will get to it just as soon as we can. We might for example need to make sure everyone has heat before taking care of your dripping bathroom sink.

8. If you get in a bind, talk to us. Communication is key! Tell us what is going on. Did you lose your job? Has your roommate gone off the deep end? We have been there before, and we know what it is like. But if you do not talk to us, there is no way we can help you. Please do not put your head in the sand and hope whatever problem you are having will go away. It will not, and things will only get worse.

9. Treat my property and the people who do work for me with respect. You would not believe how many people are just plain rude to the people we send over to try and fix their problems. Plus, how do you think we are going to react if we see that your place is a mess or that you are causing damage? Disrespecting our properties or our help is a sure way to create an adversarial relationship.

10. Work with me. We know you have a busy schedule. So do we, and trust us, we want your issue resolved as quickly as possible too because we have a dozen or so more to deal with. It all goes much easier if you work with us on times and arrangements. You might have to put up your dog for a day or allow us into your apartment on your day off. We hate to disturb you, but we will be done and out of your hair just as soon as we can.

11. Trust me. We are not going to steal your stuff or try and stiff you. Yes, we know some landlords might, but not us. If we say we need to get into your home, it is for a legitimate reason.

12. Follow the rules. They are there for a reason. They were explained to you when you moved in, and you agreed to follow them. It just makes life harder for all of us if you choose to ignore them. If you could not live with the rules, then you should not have moved in.

13. Respect your neighbors. Would you appreciate a loud party the night before you need to make a major presentation at work or before your final exams? No, you would not. Remember that you live in an apartment building, and you have neighbors — sometimes very close neighbors. Think about how your actions might affect them. I’m not saying do not have any fun; just try to be considerate.

14. Hide your weed. Just please do this. It is technically against your lease, and you really never know when there will be an emergency and who will need to access your place. [the only exception to this by State Law is Medical Marijuana which is still Federally illegal. If your lease states NO SMOKING, you CANNOT smoke marijuana even if it is under a Medical license.] 

A lot of the above is just common courtesy and common sense. But for those few — and you know who you are — please review and follow the above and let’s make your stay with us as pleasant as possible."

Fall Season has Arrived!

HAPPY FALL! 

We are now in the fall season which means we are still in the midst of hurricane season, the weather cools down, and those rain clouds can be seen more often. 

• Hurricane Preparedness: http://www.hawaiinewsnow.com/story/12590216/stock-up-checklist-for-your-hurricane-survival-kit

But besides the weather, you can have some fun for the season! 

• Fall Festivals: http://www.funtober.com/festivals/hawaii/ 
• New Mall in Kapolei: http://www.kamakanaalii.com/ 

Fifteen successful years with Sandy Jessmon

This week, we celebrated the 15th anniversary of Sandy Jessmon's employment here at Cornerstone. Sandy is Carl's personal assistant and has been a vital contributor to Cornerstone Properties' success. Congratulations and thank you for all of your hard work and dedication!

Act 225 passed into law!

Last week on the 9th, new legislature known as Act 225 was signed into law by Governor David Ige. Act 225 pertains to property owners and seller financing, both introducing some new laws and restoring some old ones which were removed by past amendments. In this picture taken at the bill signing ceremony can you spot our very own Amanda Frazier, member of the Hawaii Association of Realtors and one of the helping hands behind the passing of this bill?

For more details on Act 225 and how it may affect you, please visit http://www.capitol.hawaii.gov/session2…/bills/SB756_CD1_.pdf

Carl meets Yancy Medeiros

This weekend, only a few weeks following Cornerstone Properties' first official sponsorship of local MMA athlete Yancy "The Kid" Medeiros, Carl received an opportunity to meet him face to face!

Carl and "The Kid" in Las Vegas

We're proud of the different ways in which Carl and "The Kid" represent Hawaii.  Keep up the good work gentlemen!

Check us out at Sam's Club!

One of the banners hanging by the exit at Sam's Club on Ke'eaumoku St.

Thursday, June 18th:

This summer is off to a great start!  The season is almost always busy with a spike in tenants moving in and out, and this year is no exception.  The business side of the company is jam-packed with work, making sure that we stay on top of affairs and serve our client's and tenants' needs as best we can.  However, we got a nice little reminder of the other side of Cornerstone Properties this week - the side that gives back to its community.  At Sam's Club in Honolulu earlier this week, this banner was spotted hanging from the walls right next to the exit.  We at Cornerstone Properties have been a part of the Children's Miracle Network ohana for quite some time now, and wholeheartedly believe in the difference that they are making with many local keiki.  Thank you Sam's Club for the shoutout!  And keep up the great work, CMN; you'll have our support in all of your endeavors.

New Listings!

Visit our website www.cornerstonehawaii.com to view our new and upcoming listings! 

• Halawa Valley Single Family Home for $1750: 3 Bedrooms/1.5 Bathrooms/1 Driveway and Street Parking available. Ground floor duplex available now!
• Waiau Gardens Kai Townhouse for $2050: 3 Bedrooms/1.5 Bathrooms/2 Assigned Parking. Two Stories - New washer/dryer, 3 window AC units - available now!
• Westloch Estates Single Family Home for $2700: 3 Bedrooms/3 Bathrooms/2 Car Garage. Extended living room - Upgraded kitchen and bathrooms - available now! 

Termites in Hawaii

In Hawaii, there are two main types of termites, ground termites and drywood termites. 

• Drywood Termites: Drywood termites are the ones you see flying around the house - they come in the hundreds, and usually like to eat your doors, cabinets, baseboards, things like that. Professionals can usually spot treat them with a spray or if there are several nests, tent the house. 
• Ground Termites: Ground termites, you don't see - they live in the ground, come in the millions, and can eat an entire house in just a short period of time. These you can treat by having professionals do a ground treatment that usually lasts for 5 years under warranty. You can do this to prevent the ground termites, whereas there is no real preventative measure for drywood termites.

Newly Updated Website!

www.cornerstonehawaii.com 

We've recently updated our website! Please visit us at www.cornerstonehawaii.com to take a look!

New changes include:

• Leasing - information about our leasing services
• Online Maintenance Requests - tenants can now submit maintenance requests through a portal on our website 
• Apply Online - potential renters can now fill out and pay for applications through our website
• About Us - Our Staff - you can now learn more about our staff, especially if you've never met us face-to-face
• Testimonials - you can go to About Us - Testimonials to view what previous and current clients say about us

We hope you'll enjoy this new user experience. Thank you for taking the time to check it out! 

Amanda Frazier, RA

Property Manager and head of Government Affairs Committee for National Association of Residential Property Managers, Oahu Chapter 

Recently Rented!

Even more properties have been snatched up at the Cornerstone office this week! Here’s a list, as well as additional details, of our most popular properties that have just LEASED/ RENTED.

• Aeloa, Kapolei – 3 bedroom, 2.5 bathroom, 2 car garage, single family home featuring an open patio and a beautiful fenced landscaped yard - leased for $2,600/month 
• Fairways Edge, Ewa Beach – 3 bedroom, 2 bathroom, 2 car garage, townhouse, featuring central air conditioning, a fenced yard and covered lanai, and carpeted and ceramic floors, leased for $2,100/month (water included in the rent)
• Crescent Lane, Mililani – 1 bedroom, 1 bathroom, 2 assigned parking, upstairs unit, townhouse, leased for $1,350/month (water included in the rent)
• Century Park Plaza, Pearl City - Studio, 1 bathroom, 1 assigned covered parking, condo on the 38th floor with building amenities including 24-hr security guard, gated entry/secured key entry, and a pool, leased for $950/month (water included in the rent)
• Iolani Court Plaza, Kapiolani - Penthouse Studio, 1 bathroom, 1 assigned parking, condo on the 38th floor, featuring central air conditioning, carpet and vinyl floors, with building amenities including guarded entry, a convenience store, carwash facility, pool, and tennis courts, leased for $1,250/month (electricity, water, and basic cable included in the rent)
• The Keoni Ana, Waikiki - 2 bedroom, 1.5 bathroom, 1 parking, condo on the 5th floor, featuring a balcony and carpeted and ceramic tiled flooring, building amenities include key entry, a BBQ area, and a jogging track, leased for $1,900/month (water included in the rent)

**Please note, these properties are no longer available and are OFF THE MARKET. To see a complete list of our Available Rentals and Current Inventory, please click here or visit our website at www.cornerstonehawaii.com for more information about our company.

Thank you!

Fire Safety - Fire Extinguishers

Cornerstone Properties is a member of NARPM (National Association of Residential Property Managers).  Each month, we meet with other property managers and learn from guest speakers who are experts in their field.  


This month, our guest speaker was the Honolulu Fire Department.  We learned about fire safety.  One of the ways you can be safe is to have the right fire extinguishers in your home.  


If you don't already have them, check out this site: http://www.safetyathome.com to find out what is best for your home. 

Recently Rented!

You know we love to keep you posted in regards to “Recently Rented” properties that were snatched up in the Cornerstone office in the last few days! Here’s a list, as well as additional details, of our most popular properties that have just LEASED/ RENTED.

• Sunrise, Ewa Beach – 2 bedroom, 2 bathroom, 2 parking (1 carport + 1 assigned stall), 3rd floor apartment featuring new carpet, ceramic tiled and vinyl flooring - complex amenities include a pool/jacuzzi, BBQ area, recreation area and on-site resident manager - leased for $1,400/month (water included in the rent)
• Palehua Nani, Makakilo – 2 bedroom, 1 bathroom, 1 assigned parking, upstairs, end-unit townhouse, featuring carpeted floors, leased for $1,250/month (water included in the rent)
• Kuahelani Apartments, Mililani – 2 bedroom, 2.5 bathroom, 2 assigned parking (1 covered + 1 open), split-level unit, close distance to the shopping center, leased for $1,650/month (water included in the rent)

**Please note, these properties are no longer available and are OFF THE MARKET. To see a complete list of our Available Rentals and Current Inventory, please click here or visit our website at www.cornerstonehawaii.com for more information about our company.

Thank you!

Recently Rented

You know we love to keep you posted in regards to “Recently Rented” properties that were snatched up in the Cornerstone office in the last few days! Here’s a list, as well as additional details, of our most popular properties that have just LEASED/ RENTED.

• Wiliwili Vista, Honolulu – 1 bedroom, 1.5 bathroom, 2 covered parking, penthouse featuring a den and a great city view - building amenities include a pool/jacuzzi, a BBQ area, and secured access for $1,700/month (water included in the rent)
• Sun Terra South, Ewa Beach – 4 bedroom, 3 bathroom, 2 car garage, two-story single family home, featuring a beautiful landscaped yard, covered patio with built-in BBQ area, a deck off of the master bedroom, and a wonderful golf-course view, leased for $2,400/month (yard service included in the rent)
• Clairmont, Honolulu – 1 bedroom, 1 bathroom, 1 assigned parking, ground floor unit, very close distance to the University of Hawaii, leased for $925/month (water included in the rent)
• Island Classics at Kapanoe, Mililani Mauka - 3 bedroom, 2.5 bathroom, 2 car garage, single family home featuring a beautiful landscaped yard with covered patio, central and split AC, and beautiful laminate flooring and carpet throughout, leased for $2,550/month 

**Please note, these properties are no longer available and are OFF THE MARKET. To see a complete list of our Available Rentals and Current Inventory, please click here or visit our website at www.cornerstonehawaii.com for more information about our company.

Thank you!

Recently Rented

We love to keep you in the loop of the “Recently Rented” properties that were snatched up in the Cornerstone office just this past week! Here’s a list, as well as additional details, of our most popular properties that have just LEASED/ RENTED.

• Ke Noho Kai, Ewa Beach – 4 bedroom, 3 bathroom, 2 car garage single family home with a separate mother-in-law unit featuring an upstairs loft/den space for $3,300/ month (yard service included in the rent)
• Kulana Knolls, Royal Kunia – 2 bedroom, 1 bathroom, 2 assigned parking, ground floor unit townhome located in a gated community, featuring beautiful laminate flooring throughout, leased for $1,600/ month (water included in the rent)
• Waikalani Woodlands, Mililani – 2 bedroom, 1 bathroom, 2 assigned parking, ground floor unit, featuring laminate and ceramic tiled floors, leased for $1,550/ month (water & basic cable included in the rent)

**Please note, these properties are no longer available and are OFF THE MARKET. To see a complete list of our Available Rentals and Current Inventory, please click here or visit our website at www.cornerstonehawaii.com for more information about our company.

Thank you!