Rental Property Operations Summary Form

[Gloria Sheridan]

In the spirit of sharing back with this community, I'm sharing the contents of a summary document I've created for each of my rental properties that gathers in one place, on 1-2 pages, all the crucial details to know to manage each property and keep them functioning. I currently self-manage all of our rental properties, so if something happens to me, that would be a major problem. In case I get run over by a dump truck, my husband can simply walk into my office, look for each of these forms, and take it from there as needed, or punt it to a management company if that is the decision.

Since it appears that I cannot upload an attachment to this post, I'll just show the contents/fields and then you can copy paste into your own document and adjust it as you require:

Property Address	110 North Street,  Dxxxxx, GA 30000
Property Format	3 individual separated small houses, 800-900 sq. ft. each
Owner	Your LLC Name, LLC
Mortgage	XYZ Mortgage Co.,   Member Service: 888-123-12xx
Account #	0000000001
Payments due	1st of each month, $1,478.30
Utilize Escrow Account?	Yes
Property Taxes	City of Dxxxxxx, due Dec 1 each year Smith County, due Jan 1 each year
Residents Pay for	Their own electricity, water, sewer, & trash pickup
Property Owner Pays for	Yard maintenance

Service Providers for this Property
Electricity	Georgia Power, 866-702-18xx
Water & Sewer	City of Dxxxxxx Water, Sewer & Sanitation, 777-123-80xx
Waste Pickup	City of Dxxxxxx Water, Sewer & Sanitation, 777-123-80xx
Trash Day(s)	Wednesday
Yard Maintenance	Joe Smith, 222-333-44xx
Plumber	Emergencies: ABCD Heating Cooling & Plumbing Infrastructure: Joe Schmoe
HVAC	ABCD Heating Cooling & Plumbing
Electrician	Mike Zapps, 222-444-44xx
Insurance	Berkshire Hathaway Policy #00000000001 Premium: $1668, renews 03/22/2020 Agent: Jack Black, 404-111-44xx

Current Residents
Unit A	Jack Sprat
Payment Method	EFT via cozy.co
Rent Flows to	Your Bank Name: Your LLC Name, Account # 99999999999
Lease Dates	4/1/2019 – 3/31/2020
Rent Amount	$725
Unit B	Ned Flanders
Payment Method	Money orders mailed to Your LLC Name, PO Box 123, YourTown, GA 10001 Rents are made payable to Your LLC Name
Rent Flows to	Money orders are marked for deposit only to Account # 0000000001, then mailed to: Capital Bank, NA PO Box 100 Banktown, MD 12345
Lease Dates	4/1/2019 – 3/31/2020
Rent Amount	$725
Unit C	Jon Snow
Payment Method	Money orders mailed to Your LLC Name, PO Box 123, YourTown, GA 10001 Rents are made payable to Your LLC Name
Rent Flows to	Money orders are marked for deposit only to Account # 0000000001, then mailed to: Capital Bank, NA PO Box 100,Banktown, MD 12345
Lease Dates	8/11/2018 – 8/31/2019
Rent Amount	$1,000

Make sure you also document the "Last Updated Date" for your form, so you know when you last maintained the information. As things change with the property, just keep this form up to date (digitally and then have a printed copy easy to access for your back-up person, as need be. I hope you find this idea useful!