--- 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 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] ━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ``` --- ## 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. --- Source attribution: FDU-INS Original project: https://github.com/FDU-INS/Insurance-Skills/blob/b22eca2e974f918ce591c5b2bd829fb7510e0191/Skills/property-ops/SKILL.md License: Apache-2.0 License information: https://www.apache.org/licenses/LICENSE-2.0 Original upstream instructions; downloaded from Dave AI. ## Upstream license notice Apache License Version 2.0, January 2004 http://www.apache.org/licenses/ TERMS AND CONDITIONS FOR USE, REPRODUCTION, AND DISTRIBUTION 1. Definitions. "License" shall mean the terms and conditions for use, reproduction, and distribution as defined by Sections 1 through 9 of this document. "Licensor" shall mean the copyright owner or entity authorized by the copyright owner that is granting the License. "Legal Entity" shall mean the union of the acting entity and all other entities that control, are controlled by, or are under common control with that entity. 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See the License for the specific language governing permissions and limitations under the License. # Dave AI resource metadata Creator / publisher: FDU-INS Original project: https://github.com/FDU-INS/Insurance-Skills/blob/b22eca2e974f918ce591c5b2bd829fb7510e0191/Skills/property-ops/SKILL.md Attribution basis: Source repository record Fields of work: Finance & Accounting, Real Estate Roles: Accountant, Property Manager, Real Estate Agent Specialties: Specialty not specified Tools: Tool not specified Country applicability: Country not specified Classification basis: Source catalog labels Instruction SHA-256: c02c5878c4b11bdd6003e37b782b5d6fbd6eae20acab4667bb8bea2b6c065545