Some property managers give renters access to their security deposits to pay for essentials
HONOLULU, Hawaii (HawaiiNewsNow) - In these difficult times, people are stepping up to find ways to support the local community.
Mark Development alongside other affordable housing owners are making security deposits available to their tenants for a good reason: They hope the extra money will allow families to buy necessities during the coronavirus pandemic.
On Kauai Lihue Gardens Elderly center, Halawa View Apartments and Kewalo Apartments are among the privately owned low income rental properties where this is being tried.
Craig Watase is the president of Mark Development and realized this vital option was needed, in these times of need.
“Our tenants are often friends an family relatives, or classmates," said Watase. “I was looking into their eyes and seeing that these are hard times -- people are out of work.”
Mark Development will also defer the normal one month’s rent security deposit for three months on their Kauai County property Koa’e Makana Workforce Housing project.
“Mayor Kawakami and Mayor Caldwell have been challenging us,” said Watase. “As a landlord I looked at the people we served which are low income housing tenants and at-least we can give put cash in peoples pockets, its their money were just holding it in trust as a security deposit as a landlord.”
Tenants can pay the security deposit in installments over three months.
Watase has reached out to other owners of properties he manages, and people aren’t hesitating to help, knowing these times require additional Kokua.
“In a time like this you have to do extraordinary things,” said Watase. “Were hoping that it catches on an maybe a lot of other landlords that own a lot bigger an more properties can help their tenets out that way.”
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