Holiday to do list for landlords,
The holidays are the perfect time to get ready for the New Year or to reflect on the past year. This is the time we set goals or take stock of old activities. The following list is for individuals as well as business managers.
· If you are employed, ask your employer to move your year end bonus to next year if it saves you from going to a higher tax bracket.
· Bring your accounting up to date and determine how your business did for the year.
· Check your credit rating and address any suspicious activity.
· Tell your tenants that you appreciate them and value their business by sending a card, making a phone call or sending an email
· Contribute the maximum to your retirement accounts.
· Try to bring down debt by paying off loans and reducing spending.
· Fill out your Tenant Report cards on tenants who have left your property.
· Take inventory and evaluate all your investments.
· Inspect your property from top to bottom and from inside out. See for yourself the true conditions. Review and assess your maintenance schedule.
· Acquire all social security numbers and addresses of all independent contractors and professionals for your 1099 tax forms.
· Write your business and marketing plan. Remember the old saying, “If you fail to plan, you plan to fail.”
· Report bad debts to the credit agencies or directly to the big three credit bureaus and make a concerted effort to recover you money.
· Make a pinecone bird feeder by mixing oats, sunflower seeds, honey, chopped up nuts and birdseed with vegetable shortening. Roll some pinecones on the mixture, dry and string from a tree on you property.
· Clean your office, dust the books and throw out the old magazines.
· Balance your checkbook.
· Vacuum and dust out you computers and electronic equipment. Dust and dirt buildup can damage your equipment by causing excessive heat buildup.
· Set the New Year’s goals and objectives in writing.
1. Don’t overwhelm yourself with firm time commitments that cause you to give up when you have not achieved the first few months’ goals as planned
2. Goals are often achieved during down periods of the year. Make it a highlight to review your goals daily try to cross off just one goal a week.
3. Keep redefining and adjusting your goals weekly.
4- Change the air filter for your HVAC, clean your refrigerator coils, check toilets water levels. Do things in your community that can reduce your future maintenance cost.