property-ops

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.

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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]

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Procedure

When Invoked — Property Check

1. Read financial data:

   • Financial Plan for property details
   • COP for any property-related flags

2. 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]

━━━━━━━━━━━━━━━━━━━━━━━━━━━━

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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

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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)

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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

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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.

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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

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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.