February 2024 Blog

February 2024 Newsletter

Welcome to February! By the time you have received this newsletter, you should have already received your 1099 for 2023’s rental income collected by our agency. If there are any problems or if you have questions, please contact us directly.

For our out of state owners, you should have received your form 592, which is a summary of the withholding taxes we collected throughout 2023.

You may also have received your 12-month Cash Flow report from our, which outline the income and expenses for calendar year 2023.  All of the above documents are necessary to provide to your tax professional for filing purposes.

Monterey Rental Registry

The March 01, 2024 deadline to have your rental property registered with the city of Monterey is fast approaching. We are attending a seminar February 08, 2024 to ask some questions and gather more information on the registration process. As of now, we are undecided if we are going to require owners to register the properties themselves, or if we will do it on your behalf for a fee. More information to come on this.

Maintenance To-Do’s

• We are expecting a rainy winter season. That means certain maintenance items will come strongly recommended from your property manager. Here is a list below of recommended maintenance item to address before, during and after the winter rains come.
• Checking gutters and downspouts for functionality and clog and pitch.
• Pressure washing heavily trafficked walking areas to prevent slip hazards
• Exterior lighting check of each property to make sure all walkable surfaces are illuminated properly.
• Cleaning the yard up – heavy rains bring new growth, foliage and weeds.
• Checking operation of sump pump (if you have one) – testing regularly keeps them operational when needed most!
• Check all windows and sills for cracks, rot, moisture intrusion, etc.
• Check with tenants during inspects to make sure bathrooms are diverting moisture (exhaust vents working properly, windows opened during showers, etc)
• Home that don’t receive a lot of sun benefit from a dehumidifier to manage humidity levels.
• Encouraging regular cleaning and inspection for mold/mildew (pulling away furniture, looking in dark places, using damp rid in closets, etc.)