Monthly Operations Checklist

Inspect common areas (kitchen, living room, bathrooms) Check and restock cleaning supplies, toilet paper, trash bags Respond to all tenant messages and maintenance requests Check for any maintenance needs (leaks, lights, locks) Review occupancy — any upcoming move-outs or vacancies? Empty common area trash and recycling

Review income and expenses — reconcile all transactions Pay all property bills (mortgage, insurance, utilities) Full property walkthrough — exterior and interior inspection Update bookkeeping — categorize all income and expenses Review vacancy/occupancy rates — take action if below target Test all smoke detectors and carbon monoxide detectors Review and respond to any platform reviews/ratings Save receipts and document all expenses for tax purposes

Deep clean all common areas (professional or thorough DIY) Replace HVAC filters Review room rent rates vs current market — adjust if needed Tenant satisfaction check — informal conversations or quick survey Review insurance coverage — still adequate? Inspect exterior: gutters, grading, landscaping, paint Review and update vendor contact list

Full property inspection — document condition with photos Lease renewals — review and renew with existing tenants Tax preparation — organize all documents for CPA Major maintenance assessment — roof, HVAC, plumbing, electrical Insurance policy review and renewal Annual budget review — set budget for next year Review rent roll — plan any rent increases Evaluate portfolio performance — should you acquire, sell, or hold?