Preparing for the Year Ahead
December is the time to review, plan, and prepare. Whether you manage rental properties or serve on an HOA board, this checklist will help you close out 2025 and start 2026 on solid footing.
For Landlords
Financial Review
[ ] Reconcile all income and expenses[ ] Calculate actual ROI for each property[ ] Review rent rolls against market rates[ ] Compile documentation for tax preparation[ ] Assess capital improvements made this yearLegal Compliance
[ ] Verify all properties comply with AB 1482 (if applicable)[ ] Check local rent ordinance registration requirements[ ] Review lease agreements for needed updates[ ] Confirm security deposit records are complete[ ] Update required disclosures for new tenanciesProperty Maintenance
[ ] Schedule preventive maintenance inspections[ ] Check smoke and CO detector batteries/expiration[ ] Winterize properties as needed[ ] Review vendor contracts and get competitive bids[ ] Assess deferred maintenance and budget accordinglyInsurance Review
[ ] Verify adequate liability coverage[ ] Check replacement cost coverage keeps pace with values[ ] Review umbrella policy limits[ ] Confirm loss of rent coverage[ ] Update property schedules with improvements2026 Planning
[ ] Project rent increase strategy (with proper notice timelines)[ ] Budget for anticipated repairs[ ] Evaluate portfolio performance and exit strategies[ ] Research new regulations effective January 1[ ] Schedule continuing educationFor HOA Boards
Financial Review
[ ] Review year-to-date budget performance[ ] Audit reserve fund balances[ ] Reconcile all accounts[ ] Review collection efforts and delinquencies[ ] Assess insurance claim historyGovernance Compliance
[ ] Verify all required annual disclosures were sent[ ] Review board meeting minute records[ ] Confirm election was conducted properly[ ] Update contact information for all board members[ ] Review committee appointments and termsReserve Planning
[ ] Review reserve study (update if due)[ ] Confirm adequate funding trajectory[ ] Identify major projects for upcoming year[ ] Budget for reserve contributions[ ] Communicate reserve status to ownersInsurance and Contracts
[ ] Review master insurance policy[ ] Verify D&O coverage for all board members[ ] Audit vendor contracts for auto-renewals[ ] Get competitive bids for major services[ ] Review management company performance2026 Planning
[ ] Adopt annual budget (member approval if increase exceeds 20%)[ ] Plan board meeting calendar[ ] Schedule annual meeting[ ] Identify maintenance projects and timeline[ ] Set communication/transparency goalsNew Laws Effective January 1, 2026
Check the California Legislature website and consult your attorney for new laws affecting landlords and HOAs. Common areas of change include:
Rent control modificationsTenant protection expansionsHOA election proceduresReserve funding requirementsAccessibility requirementsFinal Thoughts
The best property managers and board members don't wait for problems—they anticipate them. Use this quiet time to strengthen your operations, update your knowledge, and position yourself for success in the new year.
As we close out another year, I'm reminded that effective property management is a marathon, not a sprint. The habits you build—documentation, compliance, communication—compound over time into thriving properties and communities.
Happy New Year from HOACart!
