| name | property-ops |
| description | Real Estate & Property Management for the Owens household. Tracks the rental property ($120K equity, $1K/mo income) and primary residence ($245K mortgage). Tenant management, maintenance schedules, property tax payments, insurance renewals, market values, and depreciation tracking. Triggers on: "Rental check", "Property update", "Tenant", "Maintenance", "Property tax", "Home value", "Rental income", "Property management", "Lease", "Landlord", "Property ops", "Real estate", "House check", "Mortgage check". Real estate is a business — run it like one.
|
Property Operations — S4 Financial (Real Estate Division)
Mission: Manage the Owens real estate portfolio as a business. Two properties (primary residence + rental) with combined equity of $365K+ and rental income of $12K/year. Maintenance deferred is equity destroyed. Tenants unmanaged is income at risk.
Property Portfolio
Primary Residence
| Field | Value |
|---|
| Type | Single Family Home |
| Location | Indianapolis, IN area |
| Mortgage Balance | $245,000 |
| Interest Rate | [data gap — verify] |
| Monthly Payment | [data gap — verify PITI] |
| Estimated Value | [data gap — verify] |
| Equity | [value - mortgage] |
| Insurance | [carrier, premium — verify] |
| Property Tax | [annual amount — verify] |
Rental Property
| Field | Value |
|---|
| Type | [verify — SFH, duplex, condo?] |
| Location | [verify] |
| Equity | $120,000 (from financial plan) |
| Monthly Rent | $1,000 |
| Mortgage | [is there a mortgage? — verify] |
| Tenant | [current tenant status — verify] |
| Lease Expiration | [data gap] |
| Property Manager | [self-managed or PM company? — verify] |
| Insurance | [landlord policy — verify] |
| Property Tax | [annual amount — verify] |
Procedure
When Invoked — Property Check
-
Read financial data:
- Financial Plan for property details
- COP for any property-related flags
-
Deliver Property Operations Brief:
━━ PROPERTY OPS — [DATE] ━━
── PRIMARY RESIDENCE ──
Mortgage: $245,000 remaining
Payment: $X,XXX/mo (PITI)
Equity: ~$XXX,XXX
Maintenance: [any upcoming/overdue]
Insurance: [renewal date, premium]
Property Tax: [next due date]
── RENTAL PROPERTY ──
Tenant Status: [occupied/vacant, lease term]
Rent: $1,000/mo [current/past due]
Cash Flow: $1,000 - expenses = $XXX net
Maintenance: [any requests/upcoming]
Insurance: [renewal date]
Property Tax: [next due date]
Depreciation: Year X of 27.5 ($X,XXX annual deduction)
FINANCIAL SUMMARY:
Gross rental income (annual): $12,000
Expenses: -$X,XXX
Net rental income: $X,XXX
Tax benefit (depreciation): $X,XXX
Effective return on equity: X%
ACTION ITEMS:
[Any pending property tasks]
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Rental Property Management
Tenant Management
- Lease tracking: start date, end date, renewal terms
- Rent collection: on-time record, payment method
- Communication log: maintenance requests, issues
- Tenant screening (for new tenants): credit, background, income verification
Maintenance Calendar
| Frequency | Task |
|---|
| Monthly | HVAC filter change |
| Quarterly | Inspect exterior, gutters, landscaping |
| Semi-Annual | HVAC service (spring/fall) |
| Annual | Roof inspection, water heater flush |
| Annual | Smoke/CO detector battery replacement |
| As needed | Plumbing, electrical, appliance repair |
| Every 3-5 years | Interior paint, carpet replacement |
| Every 10-15 years | Roof replacement, HVAC replacement |
Financial Tracking
Monthly Cash Flow:
Rent collected: $1,000
Mortgage (if any): -$XXX
Insurance: -$XXX
Property tax (monthly): -$XXX
Maintenance reserve: -$100 (10% rule)
Property management: -$XXX (if applicable)
──────────
Net cash flow: $XXX
Primary Residence Maintenance
Seasonal Calendar
| Season | Tasks |
|---|
| Spring | HVAC service, gutter cleaning, exterior inspection, lawn startup |
| Summer | Deck/patio maintenance, check irrigation, pest inspection |
| Fall | Furnace service, gutter cleaning, winterize exterior, check roof |
| Winter | Check insulation, monitor ice dams, check pipes in cold snaps |
Capital Improvement Tracking
Track improvements for tax basis purposes:
- Date, description, cost, category
- Improvements increase basis → reduce capital gains at sale
- Keep receipts (scan to iCloud)
Tax Integration
- Rental depreciation: 27.5-year straight-line on building value (not land)
- Deductible expenses: mortgage interest, insurance, repairs, property tax, travel to property
- Passive activity rules: Net rental loss may offset other income (AGI-dependent)
- 1031 exchange: If selling rental, defer capital gains by exchanging into new property
- Primary residence: $500K capital gains exclusion for MFJ (2 of 5 years occupancy)
- Cross-reference: tax-intel handles the tax optimization; property-ops provides the data
Insurance Review
| Property | Coverage Type | Carrier | Premium | Renewal |
|---|
| Primary | Homeowner's | [?] | [?] | [?] |
| Rental | Landlord | [?] | [?] | [?] |
| Either | Umbrella | [?] | [?] | [?] |
Action: Ensure umbrella policy covers both properties. Landlord policy should include liability + loss of rent coverage.
Integration
- financial-intelligence: Rental is an asset class in the portfolio
- tax-intel: Depreciation, rental income/loss, capital improvements
- estate-guard: Property titles, beneficiary/trust ownership
- spend-intel: Maintenance expenses flow through spending tracking
- life-admin: Insurance renewals, property tax deadlines
The Standard
A rental property is a small business. It generates income, incurs expenses, requires maintenance, involves legal obligations, and has tax implications. Treating it like a passive asset is how landlords end up with deferred maintenance, unhappy tenants, and surprise expenses. This skill treats it like what it is: an investment that requires active management.
