Being a landlord didn’t make us rich

My husband and I recently celebrated our golden anniversary. We have been landlords for 47 of those 50 years. At the end of this year, we hope to end this saga.

We were fortunate to live in an era when opportunities were abundant. In 1967, the first year of our marriage, we bought a home in Pearl City. With my husband’s GI bill, no down payment was necessary.

Three years later, we visited our best man, who had bought a home in Ewa Estates. Stopping at the model homes, a salesperson convinced us to apply for a home under my state retirement loan. We were able to come up with $3,000 down payment, and that started us on the road to being landlords.

Through the years, we have had numerous tenants. Our rentals were very basic three-bedroom homes. We did not ask for outrageous rents. At first, our tenants were outstanding — military families. They were respectful, always paid the rent on time, and, most importantly, left the property in better condition than when they moved in. The U.S. government soon started building military housing — and, as that source for tenants came to an end, we turned to the local housing market.

Through the years, we have had many tenants. Sad to say, families were the worst tenants. After they moved, we often found appliances not working properly; the property was often in a mess and in disrepair. We spent almost everything we had collected in rents for painting, repairs, removal of things installed without permission; not to mention the monies we had already spent through the years for utilities, property and general excise taxes, insurance, yard work, solar and roof repairs.

We tried renting to singles, by the room. But though they seemed responsible at first, it did not take too long to notice the roach population had gotten rampant and mold and mildew fast becoming uncontrollable; or rents were not paid on time for one reason or another. Some we never got to collect.

At the close of this year, we are looking forward to not being landlords. It is, very simply, not worth the trouble. Also, we are now seniors and no longer have the energy to deal with tenants.

Last year, we had a distant relative visit from Fukuoka, Japan, and he asked if he could bring friends and relatives to stay in our homes and how much would we charge. It is a very tempting idea.

Vacationers stay a short time. They are not in the home very much, as they are at the beach or touring the island. They often eat out. They are respectful and generally leave the home neat and clean upon leaving. They are also willing to pay $100 or more for a room per night; perhaps $3,000 or more per month for a furnished three-bedroom home.

I ask you, who may be thinking landlords are rich and greedy people: What would you do? Continue to take a chance to rent to thoughtless, messy people who don’t give a darn, or rent to vacationers who stay for a few days and are willing to pay the price? Hmm.

Though most of our tenants were down-and-out people who were barely making a living (a few were homeless), and we did not get rich being landlords, I like to think that our Heavenly Father noticed and blessed us in other ways. From the very onset, we somehow were able to buy real estate at their lowest points, and sold a few at their highest. We never planned it that way; it just happened. Today, we live a comfortable and debt-free life with grateful hearts.

Linda Kunimitsu and her husband, Norio, are retired but spend time helping on a family coffee and mac nut farm in Kona.