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USA Courtney Downs LeaseCo, LLC

Balance Sheet
Books = Accrual
May 2007

ASSETS

Cash
Operating Cash 47,019.94
Money Market 0.00
Security Deposits 46,036.00
Total Cash $93,055.94

OTHER ASSETS
Accounts Receivable 15,557.57
Prepaid Expenses 39,298.42
Tax Escrow 54,885.78
Replacement Reserves 48,368.58
Capital / Repair Escrow 200,000.00
Total Other Assets 358,110.35

Total ASSETS 451,166.29

LIABILITIES & CAPITAL

LIABILITIES
Accounts Payable - Trade 67,940.90
Other Accounts Payable 761,623.43
Accrued Taxes 141,668.55
Prepaid Rent 4,885.13
Security Deposits 46,036.00
Notes Payable (328.39)
Total Liabilities 1,021,825.62

CAPITAL

Owners Equity 100.00
Retained Earnings (570,759.33)
Total Capital (570,659.33)

Total LIABILITIES & CAPITAL 451,166.29
USA Courtney Downs LeaseCo, LLC
Cash Flow (Actual + Budget)
Books = Accrual
For the 12 Months Ending Dec 2007

Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 12 Month $/ $/ Dec 2006 12 Month $/ $/
Account Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.
342 313,778 342 313,778
Revenue
Gross Potential Rent 352,560 345,950 343,190 338,114 331,407 351,070 350,465 349,860 349,255 348,650 348,045 347,440 4,156,006 12,152.06 13.25 364,160 5,227,816 15,286.01 16.66
- Vacancy (34,193) (31,453) (33,657) (26,399) (19,217) (28,500) (25,000) (30,000) (42,000) (42,000) (42,000) (42,000) (396,420) (1,159.12) (1.26) (43,000) (524,580) (1,533.86) (1.67)
- Concessions & Disc. (77,240) (77,177) (74,811) (68,736) (56,781) (59,743) (58,387) (54,989) (49,108) (46,826) (42,919) (39,555) (706,273) (2,065.13) (2.25) (80,000) (870,815) (2,546.24) (2.78)
- Other Write-offs & Adj. (5,251) (7,154) (5,738) (5,449) (6,551) (5,231) (5,235) (5,242) (5,252) (5,250) (5,253) (5,257) (66,863) (195.51) (0.21) (6,085) (83,653) (244.60) (0.27)
Total Rental Income 235,876 230,165 228,984 237,529 248,858 257,596 261,843 259,629 252,895 254,573 257,873 260,628 2,986,450 8,732.31 9.52 235,075 3,748,768 10,961.31 11.95

Other Income 27,580 21,616 22,944 22,832 23,203 19,000 24,915 21,695 20,545 20,545 20,545 20,195 265,615 776.65 0.85 19,000 326,133 953.61 1.04
Total Revenue 263,457 251,781 251,928 260,361 272,061 276,596 286,758 281,324 273,440 275,118 278,418 280,823 3,252,066 9,508.96 10.36 254,075 4,074,901 11,914.92 12.99

Operating Expenses
Salary Expense 33,611 20,391 30,933 32,195 31,382 30,089 28,026 27,426 30,872 26,976 27,014 30,347 349,263 1,021.24 1.11 37,759 445,405 1,302.35 1.42
Operating Expense 2,710 2,821 2,230 3,652 3,228 3,905 3,965 3,845 3,725 3,725 3,725 3,665 41,196 120.46 0.13 3,030 51,737 151.28 0.16
Advertising Expense 6,159 5,921 9,117 4,298 6,292 8,791 9,390 8,192 7,393 6,993 6,993 6,394 85,934 251.27 0.27 6,885 106,458 311.28 0.34
Make Ready Expense 3,805 2,722 3,636 6,647 4,645 4,095 4,875 4,095 3,803 3,705 3,803 2,828 48,657 142.27 0.16 7,500 62,929 184.00 0.20
Maintenance Expense 2,027 1,541 2,485 2,639 1,612 2,425 2,425 2,425 2,425 15,095 2,425 2,425 39,949 116.81 0.13 2,295 47,211 138.04 0.15
Service Expense 6,403 10,329 1,917 3,299 5,923 3,085 3,085 3,085 5,585 5,585 6,385 1,835 56,517 165.25 0.18 2,395 67,297 196.78 0.21
Administrative Expense 15,368 15,798 15,451 15,440 14,701 17,048 19,640 17,122 17,235 17,209 17,247 17,301 199,560 583.51 0.64 14,969 249,662 730.01 0.80
Utility Expense 9,370 15,941 12,794 6,685 9,354 12,763 13,713 13,713 12,776 8,388 8,001 8,051 131,551 384.65 0.42 10,900 158,888 464.59 0.51
Taxes & Insurance 37,910 33,542 33,143 33,465 34,552 32,739 32,739 32,739 32,739 32,739 32,739 32,739 401,787 1,174.82 1.28 0 402,963 1,178.26 1.28
37,237 37,237 108.88 0.12
Total Operating Exp. 117,362 109,007 111,705 108,319 111,690 114,941 117,860 112,644 116,553 120,416 108,332 105,585 1,354,415 3,960.28 4.32
Net Operating Income 146,094 142,774 140,223 152,043 160,371 161,655 168,898 168,680 156,887 154,702 170,086 175,237 1,897,651 5,548.69 6.05 122,970 1,629,788 4,765.46 5.19
131,106 2,445,113 7,149.45 7.79
Rent Expense 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 3,270 9.56 0.01
Partnership Expense 0 0 0 0 365 415 415 415 415 415 415 415 89,487 261.66 0.29 193,254 283,833 829.92 0.90
Capital Expense 1,601 4,113 10,791 8,376 13,906 21,300 4,900 4,900 4,900 4,900 4,900 4,900 0 0.00 0.00 0 9,800 28.65 0.03
3,300 3,300 9.65 0.01
Cash Flow Frm Operations (48,760) (54,592) (63,822) (49,586) (47,153) (53,313) (29,670) (29,888) (41,681) (43,867) (28,483) (23,331) 1,804,894 5,277.47 5.75
(65,449) 2,148,180 6,281.23 6.85
Rental Guarantees 7,543 (3,489) 0 0 0 0 0 0 0 0 0 0 0
250,000 250,000
Balance Sheet Adjustments
Cash - Non Operating Accounts 0 0 4,562 4,374 2,739 0 0 0 0 0 0 0 (5,768)
Accounts Receivable (4,571) (717) 131,540 (134,406) 2,387 0 0 0 0 0 0 0 (1,770) 0 (1,770)
Prepaid Assets (7,749) 3,588 6,328 (4,460) 523 0 0 0 0 0 0 0 138,161 0 138,161
Escrow Deposits (30,394) (34,568) (34,568) (34,822) 322,388 (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) 0 0 (14,250)
(2,951) (2,951)
Cash Increase (Decreae) From Assets (42,714) (31,697) 107,861 (169,314) 328,037 (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) 130,623
(2,951) 119,191
Accounts Payable 36,334 64,458 (135,734) 185,452 117,385 0 0 0 0 0 0 0 (196,724)
Accrued Expenses 41,830 25,859 110,449 36,480 (411,342) 0 0 0 0 0 0 0 (11,675) 0 (11,675)
Other Payables (1,829) (1,300) (1,433) (4,374) (2,739) 0 0 0 0 0 0 0 0 0 0
Mortgages Payable 0 (11,458) (5,571) 15,448 1,581 0 0 0 0 0 0 0 0 0 0
0 0
Cash Increase (Decrease) From Liab. 76,334 77,559 (32,289) 233,006 (295,115) 0 0 0 0 0 0 0 (208,399)
0 (11,675)

NET CASH FLOW (7,597) (12,219) 11,751 14,106 (14,231) (60,438) (36,795) (37,013) (48,806) (50,992) (35,608) (30,456) 1,727,118
CUMM. NET CASH FLOW 47,614 35,395 47,146 61,251 47,020 (13,418) (50,213) (87,227) (136,033) (187,025) (222,632) (253,088) 181,601 2,505,696
55210.94 181,601

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$-

$(100,000)

$(200,000)

$(300,000)
Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007

Row 59 Row 60

Units
Sq. Ft.
### 384807

bayclub2 160 146,080
castlep 356 384,807
cedar 300 274,080
congress 257 254,074
jackson 247 221,730
lee 10 22,160
rem 428 398,868
ric 5 24,952
parkside 300 305,832
polo 440 403,761
sat 440 548,750
sweet 240 264,892
trailapt 280 286,056
vlgcrest 120 108,276
walnut 284 254,103
westo 12 48,309
wind 346 433,196
usacourt 280 299,111
usawalcr 284 254,103
W30: administrator:
assume insurance increases by 50%

W47: administrator:
replacement reserve + reduction in tax escrow due to overage
USA Courtney Downs LeaseCo, LLC
Budget Comparison
Books = Accrual
For the period ending May 31, 2007

MTD MTD YTD YTD Annual
Account Actual Budget $ Variance MTD Variance Comment Actual Budget $ Variance Budget
Revenue
Market Rent 294,410.00 351,675.00 (57,265.00) Variance due to no 1,493,780.00 1,764,425.00 (270,645.00) 4,209,210.00
longer offering any
concessions, market
rents changed to reflect
lower rents.
Loss / Gain to Lease 36,997.00 0.00 36,997.00 Variance due to the 217,441.00 0.00 217,441.00 0.00
changing budget to
reflect lower market
rents. This will continue
to reduce over time as
last year concessions
burn off.
Gross Potential Rent 331,407.00 351,675.00 (20,268.00) 1,711,221.00 1,764,425.00 (53,204.00) 4,209,210.00
Prepaid Homeowners Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Residential Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vacancy Loss (19,217.27) (28,705.15) 9,487.88 Positive variance due to (144,919.57) (141,965.57) (2,954.00) (325,479.64)
closing out at 95.3%
versus budgeted at
91.93%
Upfront Rent Concessions (2,505.81) (7,830.00) 5,324.19 Current specials are (16,751.15) (28,710.00) 11,958.85 (59,160.00)
$350 off of our 2/2 only
and offered on a look
and lease special only.
Corporate Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Delinquent Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments & W/O (1,630.00) (636.36) (993.64) Additional write off due (5,539.49) (3,147.52) (2,391.97) (7,841.82)
to one skip.
Model Units (1,980.00) (1,625.00) (355.00) Increased market rents. (9,900.00) (8,125.00) (1,775.00) (19,500.00)
Courtesy Officer Apt. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Apartment (1,780.80) (2,050.00) 269.20 (8,904.00) (10,250.00) 1,346.00 (24,600.00)
Housekeeping & Maintenance Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Guest Suite (1,160.00) (900.00) (260.00) (5,800.00) (4,500.00) (1,300.00) (10,800.00)
Lease Term Concessions (54,275.10) (56,019.08) 1,743.98 We have been able to (337,993.70) (311,864.53) (26,129.17) (632,942.99)
reduce the concession
offered to meet the
market needs.
Reducing concessions
at turn over and
renewal.
Homeowner's Assn Dues Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowner Dues Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Model Units 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lease Contract Difference 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rental Income $248,858.02 $253,909.41 $(5,051.39) $1,181,413.09 $1,255,862.38 $(74,449.29) $3,128,885.55

Laundry Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vending Income 0.00 68.00 (68.00) 0.00 340.00 (340.00) 816.00
Covered Parking Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges & NSF Fees 1,908.00 1,650.00 258.00 Aggressive rental 6,748.84 8,250.00 (1,501.16) 19,800.00
collections.
Month to Month Premium 343.70 200.00 143.70 3,059.99 1,000.00 2,059.99 2,400.00
Storage Fees 917.58 960.00 (42.42) 4,123.31 4,800.00 (676.69) 11,520.00
Repair & Maintenance Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Application Fees 1,710.00 1,250.00 460.00 Budgeted to collect 25 6,860.00 4,200.00 2,660.00 10,250.00
app fees and actually
collected 35.
Termination Fees & Damages 860.33 1,000.00 (139.67) 3,684.76 5,000.00 (1,315.24) 12,000.00
Miscellaneous Income 495.77 1,160.00 (664.23) Variance due to 3,336.18 5,800.00 (2,463.82) 13,920.00
collection of 22 utility
transfer fees and 13
credit card fees.
Renters Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 3,488.53 0.00 3,488.53 0.00
Pet Rents & Fees 4,625.75 2,456.00 2,169.75 Variance due to eight 17,097.71 12,280.00 4,817.71 29,472.00
pet fees budgeted for
and actual collected
were 15.
Tower Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Asset Management Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Parking Spaces Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowners Assessments 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Garage Income 6,793.61 6,650.00 143.61 33,477.75 33,250.00 227.75 79,800.00
Water/Sewer Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable/Telephone Income 1,117.00 1,006.00 111.00 5,687.00 5,030.00 657.00 12,072.00
HOA Contributions Developer 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Developer HOA Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Forfeited Deposits 0.00 90.00 (90.00) 2,162.50 450.00 1,712.50 1,080.00
Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Administration Fee 3,300.00 4,400.00 (1,100.00) Variance due to 14,550.00 13,800.00 750.00 33,800.00
budgeted to collect 29
admin fees and actual
collected was 22.
Move-Out Charges 1,022.45 5,550.00 (4,527.55) Variance due to 13,126.44 21,090.00 (7,963.56) 48,840.00
apartments being left in
better condition resulting
in fewer fees charged.

Short Term Lease Fees 108.87 450.00 (341.13) Fewer short term leases 772.44 1,950.00 (1,177.56) 3,600.00
than anticipated.
Extra-Ordinary Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Corporate Rent 0.00 425.00 (425.00) No corporate units at 0.00 2,125.00 (2,125.00) 5,100.00
this time.
Corporate Units - expense 0.00 (1,750.00) 1,750.00 See guest suit expense 0.00 (8,750.00) 8,750.00 (21,000.00)
category.
Deferred Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Acquisition Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - C.A.M. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Condo Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Other Income 23,203.06 25,565.00 (2,361.94) 118,175.45 110,615.00 7,560.45 263,470.00

Total Revenue $272,061.08 $279,474.41 $(7,413.33) $1,299,588.54 $1,366,477.38 $(66,888.84) $3,392,355.55

Expense
Managers Salary 11,463.50 12,013.16 549.66 Variance due to 11 days 56,255.14 60,065.80 3,810.66 147,761.88
of accrual for March and
April and for reclass of
payroll taxes.
Salaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 11,485.64 11,223.48 (262.16) 65,492.60 56,117.40 (9,375.20) 138,048.78
Salary - Administrative 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 6,420.12 2,700.00 (3,720.12) Variance due to March 18,236.23 13,349.09 (4,887.14) 39,026.28
and April accruals.
Payroll Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Group Insurance 1,748.00 778.00 (970.00) Accrual of 11days in 8,141.50 3,890.00 (4,251.50) 9,336.00
March and April.
Disability Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
401k Match 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contract Labor 264.25 0.00 (264.25) Services needed to 386.75 0.00 (386.75) 0.00
cover for vacations.
Workers Comp 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 31,381.51 26,714.64 (4,666.87) 148,512.22 133,422.29 (15,089.93) 334,172.94

Office Operations & Supplies 302.98 1,000.00 697.02 Savings due to 2,274.82 5,000.00 2,725.18 12,000.00
purchasing of less
supplies this month.
Telephones 769.42 1,100.00 330.58 Current local and long 3,656.29 5,500.00 1,843.71 13,200.00
distance service,
includes fax lines.
Answering Svc. & Pagers 115.10 100.00 (15.10) 494.16 500.00 5.84 1,200.00
Postage & Delivery 100.81 170.00 69.19 1,045.74 850.00 (195.74) 2,040.00
Patrol Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Membership Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Publications & Subscriptions 0.00 90.00 90.00 0.00 450.00 450.00 1,080.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Training 932.85 115.00 (817.85) Variance due to Annual 2,345.64 575.00 (1,770.64) 1,380.00
Apt association
conference, employee
outing and team dinner.
Furniture Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Car Expenses 0.00 25.00 25.00 385.44 125.00 (260.44) 300.00
Permits & Fees 0.00 25.00 25.00 0.00 125.00 125.00 300.00
Credit Checks 520.50 750.00 229.50 1,662.00 2,520.00 858.00 6,150.00
Guest Suite Expense 486.62 650.00 163.38 2,777.02 3,250.00 472.98 7,800.00
Parking Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 3,228.28 4,025.00 796.72 14,641.11 18,895.00 4,253.89 45,450.00

Advertising & Promotions 2,625.12 2,600.00 (25.12) 18,453.63 18,300.00 (153.63) 36,900.00
Resident Promotions 387.80 798.00 410.20 Fewer suppliies needed. 2,070.53 3,990.00 1,919.47 9,576.00

Locators 1,278.75 3,181.64 1,902.89 Three locator 6,662.14 9,978.78 3,316.64 24,440.78
placements this month,
budgted for seven.
Resident Referrals 2,000.00 3,410.00 1,410.00 Four resident refferals, 4,600.00 10,695.00 6,095.00 26,195.00
budgeted for seven.
Total Advertising Expense 6,291.67 9,989.64 3,697.97 31,786.30 42,963.78 11,177.48 97,111.78
Paint & Drywall 410.29 720.00 309.71 Staff painted in house. 981.25 3,150.00 2,168.75 7,852.50
Contract Cleaning Svcs. 2,525.00 250.00 (2,275.00) Variance due to 11,870.00 1,250.00 (10,620.00) 3,000.00
budgeting error.
Carpet Cleaning & Repairs 1,063.00 2,400.00 1,337.00 Fewer carpet cleans 6,729.00 10,500.00 3,771.00 26,175.00
needed this month.
Window Coverings 502.93 100.00 (402.93) Replaced mini blinds 1,162.76 500.00 (662.76) 1,200.00
damaged at move out
and the sun.
Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lock & Keys 23.00 50.00 27.00 364.31 250.00 (114.31) 600.00
Counter & Tub Resurfacing 0.00 416.67 416.67 Non needed this month. 75.00 2,083.35 2,008.35 5,000.04
Other Redecorating 0.00 25.00 25.00 0.00 125.00 125.00 300.00
Cleaning Supplies 120.99 133.33 12.34 272.14 666.65 394.51 1,599.96
Total Make Ready Expense 4,645.21 4,095.00 (550.21) 21,454.46 18,525.00 (2,929.46) 45,727.50

General Maintenance & Supplies 680.27 700.00 19.73 2,941.46 3,500.00 558.54 8,400.00
HVAC Parts & Repairs 54.02 100.00 45.98 1,093.74 500.00 (593.74) 1,200.00
Plumbing Parts & Repairs 0.00 140.00 140.00 336.25 700.00 363.75 5,055.00
Electric Parts & Repairs 0.00 150.00 150.00 0.00 750.00 750.00 1,800.00
Roof & Gutter Repairs 0.00 0.00 0.00 270.00 0.00 (270.00) 0.00
Pools & Fountains 0.00 450.00 450.00 Current supplies were 596.58 2,250.00 1,653.42 5,400.00
sufficient.
Gates & Entrances 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Glass & Screens 56.38 160.00 103.62 556.86 800.00 243.14 1,920.00
Appliance Parts & Repairs 416.66 450.00 33.34 1,077.12 2,700.00 1,622.88 5,850.00
Hardware 0.00 75.00 75.00 149.87 375.00 225.13 900.00
Exterior Painting 0.00 25.00 25.00 355.34 125.00 (230.34) 300.00
Uniforms 0.00 0.00 0.00 1,045.40 1,000.00 (45.40) 2,000.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 405.00 175.00 (230.00) 1,881.52 875.00 (1,006.52) 10,395.00
Uninsured Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Locks & Keys 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bulbs & Ballasts 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Maintenance Expense 1,612.33 2,425.00 812.67 10,304.14 13,575.00 3,270.86 43,220.00

Landscape & Grounds 4,958.38 5,000.00 41.62 7,458.38 7,500.00 41.62 30,000.00
Trash Removal 889.53 510.00 (379.53) Based on new service 3,641.04 2,550.00 (1,091.04) 6,120.00
rate. Increase not
anticipated.
Pest Control 75.00 75.24 0.24 400.00 376.20 (23.80) 902.88
Security Patrols 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Window Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interior Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable Television 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Snow Removal 0.00 0.00 0.00 16,370.42 3,800.00 (12,570.42) 5,850.00
Total Service Expense 5,922.91 5,585.24 (337.67) 27,869.84 14,226.20 (13,643.64) 42,872.88

Expenses - CAM - Electric 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Water/Sewer 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Grounds 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Trash Removal 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Cleaning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Maintenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - R/E Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total CAM Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Management Fees 11,202.18 11,178.98 (23.20) 53,620.78 54,659.09 1,038.31 135,694.22
Asset Management Fees 1,000.00 1,000.00 0.00 5,000.00 5,000.00 0.00 12,000.00
Investor Administration Fee 3,250.00 3,300.00 50.00 16,250.00 16,500.00 250.00 39,600.00
Legal Fees (920.00) 1,300.00 2,220.00 Seven evictions filed. 1,594.50 6,500.00 4,905.50 15,600.00
Residents riembursed
$180 each.
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Postage & Delivery 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 9.58 9.58 0.00 47.90 47.90 114.96
Partnership Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Administrative Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Travel Expense 169.30 0.00 (169.30) 169.30 0.00 (169.30) 0.00
Employee Activities 0.00 0.00 0.00 123.71 0.00 (123.71) 0.00
Printing 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Consulting 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Expense 0.00 0.00 0.00 0.00 2,624.00 2,624.00 5,124.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Development Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Admin. Expense 14,701.48 16,788.56 2,087.08 76,758.29 85,330.99 8,572.70 208,133.18
Electricity 3,183.50 3,340.00 156.50 13,385.59 16,700.00 3,314.41 40,080.00
Electricity Gas - Resident 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Natural Gas 1,569.69 2,565.00 995.31 Actual usuage was less 12,824.55 12,825.00 0.45 30,780.00
than anticipated.
Water & Sewer 12,957.27 8,965.00 (3,992.27) Variance due to 70,727.38 44,825.00 (25,902.38) 107,580.00
increase of water
charges when only
budgeted for a 3%
increase.
Water & Sewer - Resident Reimb (9,043.62) (6,275.50) 2,768.12 Variance due to (41,037.62) (31,377.50) 9,660.12 (75,306.00)
aggressive in house
collections on water
bills. Collected 70%.
Water - irrigation 269.68 500.00 230.32 291.94 1,000.00 708.06 23,500.00
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (1,811.59) (2,011.00) (199.41) (12,279.07) (10,055.00) 2,224.07 (24,132.00)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 1,554.81 827.94 (726.87) Usuage higher than 6,256.51 4,094.70 (2,161.81) 9,387.78
anticipated. Averaging
$55 per vacant.
Utility - Vacant Gas 674.51 551.96 (122.55) 3,975.79 2,729.80 (1,245.99) 6,258.52
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 9,354.25 8,463.40 (890.85) 54,145.07 40,742.00 (13,403.07) 118,148.30

Management Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Management Fees-MRLL 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Property Legal Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Credit Card Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Assessment Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fiduciary Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Custodial Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Management Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Property Taxes 25,974.73 27,616.50 1,641.77 07 RE tax accrual 141,668.55 138,082.50 (3,586.05) 331,398.00
adjustment.
Franchise Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Insurance 7,977.61 5,073.00 (2,904.61) Variance due to reclass 30,343.13 25,365.00 (4,978.13) 60,876.00
from N/P to Exp acct as
well as reclass from
prepaid insurance.
Tax Consultants 600.00 49.88 (550.12) Includes annual admin 600.00 249.40 (350.60) 598.56
2007 fee prop.
MIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Taxes & Insurance 34,552.34 32,739.38 (1,812.96) 172,611.68 163,696.90 (8,914.78) 392,872.56
Total Operating Expenses 111,689.98 110,825.86 (864.12) 558,083.11 531,377.16 (26,705.95) 1,327,709.14
NET OPERATING INCOME 160,371.10 168,648.55 (8,277.45) 741,505.43 835,100.22 (93,594.79) 2,064,646.41

Base Rent - Interest Payment 106,586.67 106,586.67 0.00 532,933.35 532,933.35 0.00 1,279,040.04
Base Rent - Principal Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Stated Rent 86,666.71 86,666.67 (0.04) 433,333.55 433,333.35 (0.20) 1,040,000.04
Office Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 193,253.38 193,253.34 (0.04) 966,266.90 966,266.70 (0.20) 2,319,040.08

Mortgage Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loan Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Debt Service 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Partnership Legal Fees 0.00 170.00 170.00 0.00 850.00 850.00 2,040.00
Partnership Accounting Fees 365.00 170.00 (195.00) 365.00 850.00 485.00 2,040.00
Partnership Travel 0.00 75.00 75.00 0.00 375.00 375.00 900.00
Partnership - Meals 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Fees - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Due Diligence Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dead Deal Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 365.00 415.00 50.00 365.00 2,075.00 1,710.00 4,980.00

Exterior Rehab 0.00 2,546.00 2,546.00 No expense this month. 0.00 2,546.00 2,546.00 18,946.00
Interior Rehab 0.00 0.00 0.00 0.00 3,250.00 3,250.00 3,250.00
HVAC Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Carpet & Floor Replacement 12,605.83 4,900.00 (7,705.83) Replaced 13 carpets. 32,992.22 24,500.00 (8,492.22) 58,800.00
Damaged due to pet
and wear and tear.
Refrigerators 0.00 0.00 0.00 585.06 600.00 14.94 600.00
Dishwashers & Ranges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Washers / Dryers 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fire Alarm Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Capital Improvements 1,300.18 0.00 (1,300.18) Variance due to golf cart 5,209.71 3,713.00 (1,496.71) 3,713.00
repair and purchasing of
microwave for apartment
#6311.
Boiler Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Roof Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Capital Expenses 13,906.01 7,446.00 (6,460.01) 38,786.99 34,609.00 (4,177.99) 85,309.00

Casualty Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Casualty Recovery 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Casualty Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET INCOME (LOSS) (47,153.29) (32,465.79) (14,687.50) (263,913.46) (167,850.48) (96,062.98) (344,682.67)

Rental Guarantee 0.00 0.00 0.00 4,054.35 0.00 4,054.35 0.00
(47,153.29) (32,465.79) (14,687.50) (259,859.11) (167,850.48) (92,008.63) (344,682.67)
YTD Variance Comment Filter
0.01
###

###

###
0.00
0.00
###

###

0.00
0.00
###

###
0.00
###
0.00
###
###

0.00
0.00
0.00
0.00
###
1.00
0.00
408.00
0.00
###

4,603.69
###
0.00
###

###
###

0.00
3,488.53
###

0.00
0.00
0.00
0.00
###
0.00
###
0.00
0.00
2,702.50
0.00
0.00
0.00
###
###

3,281.31

0.00
2,550.00

###

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
###
1.00
###
1.00
1.00
###

0.00
###
0.00
###

0.00
###

0.00
0.00
651.00

0.00
###
1.00
8,577.80

###

1,209.26
2,166.55
0.00
0.00
540.00
0.00
3,968.49

0.00
535.44
150.00
5,452.50
7,163.64
0.00
###
1.00
###
7,246.33

###

###

###
1.00
5,261.54
###

###

2,265.69

0.00
687.31
2,575.02
150.00
1,193.11
###
1.00
7,821.73
1,747.76
1,176.25
900.00
270.00
3,296.58

0.00
1,573.24
4,643.78
599.87
505.34
2,045.40
0.00
3,336.52
0.00
0.00
0.00
###
1.00
###
7,590.57

926.44
0.00
0.00
0.00
0.00
###
###
1.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
###
###
###
8,474.50

0.00
0.00
57.48
0.00
0.00
338.60
123.71
0.00
0.00
2,624.00
0.00
0.00
###
1.00
###
0.00
###

###

###

2,061.62
0.00
###
0.00
###

###
0.00
###
1.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
###

0.00
###

1,499.28

0.00
###
###
###
1.00
###
0.00
###
0.00
###
1.00
0.00
0.00
0.00
0.00
0.00
0.00
1,020.00
1,750.00
450.00
0.00
0.00
0.00
0.00
0.00
0.00
3,220.00
1.00
5,092.00
3,250.00
0.00
###

1,185.06
0.00
0.00
0.00
###
0.00
0.00
###
1.00
0.00
0.00
0.00
###
1.00
4,054.35
1.00
A15: deparker:
What is our current Up Front Special?

A103: deparker:
Where is this invoice?

A132: deparker:
Did the glass break twice in #3201, both invoices $250.25

A183: deparker:
What was this refund for?

A186: deparker:
We need to notify the PUC of this HUGE increase. Oublic Utility Commission, it may be illegal for the big increase.

A190: deparker:
Not complaining but how can we collect more than we billed out in trash, are they coding the resident paid fees for the billing service to this account as well?
Courtney Downs Apartments
May-07
LEASING & OCCUPANCY

NUMBER OF MOVE INS: 22 INCOME THIS MONTH: $272,061.08
NUMBER OF MOVE OUTS: 12 INCOME LAST MONTH: $260,361.28
NET FOR THE MONTH: 10 DIFFERENCE: $11,699.80

TOTAL # GARAGES 120
# GARAGES OCCUPIED 117
OCCUPIED/LEASED %: 95.3%, 87.1% GARAGES OCCUPIED % 98%

SOURCE OF TRAFFIC: REASONS WHY PROSPECTS DID NOT LEASE:
Traffic Leased
APTGUIDE.COM 7 1 * Job Transfer 5
APARTMENT GUIDE 0 0 * Too expensive. 4
YELLOW PAGES 0 0 * Future/No Availability/Waiting list 6
OTHER. NET 8 0 * Just started looking. 0
BLUE BOOK 37 12 * Waiting for Home to Sell 9
RENT.NET 0 0 * Current Lease to Expire 0
LIVES IN AREA 27 11 * Needs Ground Floor 7
RESIDENT REFERRAL 7 3 * Moved Elsewhere 4
LOCATORS 9 2 * Will return with roommate or spouse 18
RENT.COM 0 0 * Realtor Looking for Client 0
WALK-IN 0 0 * Undecided 4
SIGNAGE 0 0 * Employment pending 11
WORD OF MOUTH 0 0 * House sale pending 0
* Rented at Competitor 0
TOTALS 95 29 TOTALS 68

CLOSING RATIO: 33%

MARKETING ACTIVITIES & SOURCES FOR THE MONTH

* Took brochures to Regal Entertainment for preferred employer program.
* Took flyers and brochures to Sky Ridge Human Resources for new employees to the area.
* Took flyers to Parker Adventist Hospital.
* Took locators lunch and new prices for the month.
* Updated all internet ads with new pricing and specials for the month of April .
* Brochures and lunch were taken to Direct TV Human Resources.
* Met with Metro Brokers sales team with options of temporary housing for new home buyers.
* Dropped off cookie basket and brochures to Nextel.
* Dropped off doughnuts and brochures to Marriott extended stay hotels.
* Took cookie and candy bag with flyer's to Ryland Homes team.
* Took cookie bag and brochures to Ford dealership.
* Took cookie and candy bag to Richmond homes.
OVERVIEW OF COMPARABLE PROPERTIES:
The surrounding comps are still offering discounted rents on selected units.
This translates into one bedroom effective rents of $688, two bedrooms at $840and three bedrooms starting at $900.
Look and leases are being locked in with $250 to $500 off 1st rent on a 12 to 13 month lease.

RESIDENT RETENTION:
We had 20 leases expiring in the month of May. Two are moving due to purchasing a home and/or condo,
four are moving due to relocating, one is loosing their roommate, one due to price increase, one is moving closer to work.
Overall we had 10 renewals with an average increase of $43.50 per renewal.

INCIDENTS ON THE PROPERTY:
Resident drove into our pine tree on the south east entrance off of Bronco's parkway, the resident has received the bill for the
replacement of the new tree and he is submitting the bill to his insurance, which in turn will cut our landscaping company a check
and then the tree will be replaced.

MAINTENANCE: ROUTINE REPLACEMENTS:
Number
Number of: Replaced Apt. #
MARKET READY UNITS 13 REFRIGERATORS 0
COMPLETE PAINTS 8 DISHWASHERS 0
TOUCH UPS 5 WINDOWS 0
WORK ORDERS 120 A/C COMPRESSORS 0
Pending Completed 0 CONDENSING UNITS 0
Misc 0 21 21 WATER HEATERS 0
Electrical 0 18 18 ICE MAKERS 0
Punch 0 13 13 GARBAGE DISPOSALS 0
HVAC 0 12 12 MICROWAVES 0
5202, 9201, 2301, 2211, 7207,
Plumbing 0 47 47 CARPETS 6 9112.
Property Ext. 0 0 0 CEILING FANS 0
Appliances 0 9 9 TOILETS 0
Safety 0 0 0 A/C FAN MOTORS 0
Total 0 120 120 COUNTER TOPS 0
ROOF LEAKS 0 CABINETS RESURFACED KITCHEN 0
5202-3, 16202-1, 7207-2, 16203-1,
PLUMBING LEAKS 0 BLINDS 15 9112-3, 19112-2, 16103-2, 9203-1.
TUBS RESURFACED 0
TUB TILES 0

CAPITAL IMPROVEMENTS IN PROGRESS:
N/A

PROBLEM AREAS NEEDING ATTENTION:
We will be painting the pool fence on the 12th and 13th of this month.

CURRENT STAFF:

Manager Nancy Howland
Assistant Manager Wendy Gillan
Leasing Consultant Carrie McMillan
Leasing Consultant Jessica Branch
Maintenance Supervisor Gabriel Tellez
Assistant Maintenance Russell Briley
Maintenance/ Grounds Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH:
Removal of dead trees on the property.
Flowers have been planted on the property.
Reseeded pet kill areas.
Courtney Downs
RENTAL SCHEDULE
May 2007

EFFECTIVE EFFECTIVE EFFECTIVE Vacants Notice Net
UNIT TYPE #UNITS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION CONCESSION PER S/F MONTHLY Vacants Leased Notice Leased Available
S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS
A1 1BR 40 704 28,160 725 1.03 $29,000 $348,000 0.00 725.00 0.00 $- 1 0 2 3 3
A1V 1BR 32 704 22,528 725 1.22 $27,520 $330,240 0.00 55.00 0.00 0 0 0 0 0
A2 1BR 18 910 16,380 850 1.03 $15,300 $183,600 0.00 850.00 0.00 $- 0 0 2 0 2
B1 2BR 24 808 19,392 750 1.11 $18,000 $216,000 0.00 750.00 0.00 $- 0 0 4 0 4
B1V 2BR 32 808 25,856 760 1.14 $24,320 $291,840 0.00 760.00 0.00 $- 0 0 0 0 0
C 2BR 42 977 41,034 875 1.16 $36,750 $441,000 0.00 875.00 0.00 $- 4 0 6 2 9
C1 2BR 44 1,030 45,320 900 1.12 $39,600 $475,200 0.00 900.00 0.00 $- 3 2 7 0 8
C1V 2BR 22 1,030 22,660 925 1.15 $20,350 $244,200 0.00 925.00 0.00 $- 0 0 0 0 0
CV 2BR 24 977 23,448 875 1.18 $21,000 $252,000 0.00 875.00 0.00 $- 0 0 0 0 0
D 2BR 16 1,030 16,480 925 0.90 $14,800 $177,600 0.00 925.00 0.00 $- 2 0 2 0 4
DV 2BR 20 1,030 20,600 925 0.90 $18,500 $222,000 0.00 925.00 0.00 $- 0 0 0 0 0
E 3BR 24 1,140 27,360 1160 1.02 $27,840 $334,080 0.00 1,160.00 0.00 $- 0 0 2 0 2
EV 3BR 4 1,140 4,560 1160 1.02 $4,640 $55,680 0.00 1,160.00 0.00 $- 0 0 0 0 0

TOTAL 342 917 313,778 $870 $0.95 $297,620 $3,571,440 $- $837 0.00 $- 10 2 25 5 32
* Net of Concessions
MARKET SURVEY
Courtney Downs
May-07

Apartment Name Courtney Downs Coyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek
Address 15849 E. Jamison Dr16363 E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr
Phone 720-870-6114 303-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7220 303-680-6696
Location Englewood, Co Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112
# of units 342 507 653 216 312 380 168
Age of Property 5 5 7 4 5 5 5
Application Fee $50.00 $35.00 $40.00 $35.00 $30.00 $35.00 $40.00
Credit Card yes yes yes yes yes yes yes
Pets Allowed yes yes yes yes yes yes yes
Pet Deposit 300 n/r 300-600 150-300 $100 300-500 400-500 300
Sec. Deposit 150 275-325 300 100 99 100-200 100
W/D included Yes yes Only In Select Units Only Select Units no no no
Covered Parking no yes yes yes yes yes yes
Garage Detached yes yes yes yes yes yes
Cable Yes yes yes yes yes yes yes
Tennis Courts no no no no yes yes yes
# of pools 1 1 1 1 1 2 1
Weight Room yes yes yes yes yes yes yes
Jacuzzi yes 1 1 1 1 2 1
Ceiling Fans yes yes yes yes yes yes yes
Microwaves yes yes yes yes yes yes yes
Mini Blinds yes yes yes yes yes yes yes
FF Freezer yes yes yes yes yes yes yes
Icemakers yes yes yes yes yes yes yes
Fireplaces yes no yes yes yes yes yes
Access Gates no yes yes no yes yes yes
Alarm in Unit Prewired no yes yes yes no yes
Door to Door no no no no no no no
Aerobics/Kick Box no no no no no no no
Movie Room no yes yes yes yes yes yes
Computer Library yes yes yes yes yes yes yes
Indoor Basketball no no no no no no no
Water Charge yes no yes yes yes yes yes
MARKET SURVEY
Courtney Downs
May-07
(Concessions reduced rates)

PROPERTY: Courtney Downs Apt Coyote Ranch Windsor at Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve@South Creek
PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF
Efficiency
Efficiency
1B1B (A) 725 704 1.03 710 779 0.91 680 627 1.08 713 685 1.04 720 768 0.94 690 707 0.98 689 763 0.90
1B1B (B) 850 808 1.05 900 853 1.06 740 701 1.06 688 705 1.02 730 842 0.87 708 796 729 763 1.05
1B1B w/study 750 910 0.82 840 811 0.91 739 760 1.03 895 992 1040 916
1B
1B
1B w/loft
1B1B w/study 820 956 0.86 900 1051 0.86
2B2B (E) 875 977 0.90 950 1105 0.86 920 1044 0.88 975 1120 0.87 885 1115 0.79 900 1033 0.87 813 1037 0.78
2B2B (F) 900 1030 0.87 1015 1192 0.85 1060 1196 0.89 970 1220 0.80 965 1093 0.88 840 1037 1.23
2B2B (G) 925 1030 0.90 1090 1180 0.92
2B2B (H)
2B2B
2B w/study
2B2B TH
2B2B TH
3B2B 1,160 1140 1.02 1270 1398 0.91 1320 1330 0.99 1100 1230 0.89 1100 1356 0.81 1290 1235 1.04 897 1257 0.71
3B2B 1340 1398 0.91 1305 1235 1.04 1134 1257 1.10

% occ /leased 95 87.10% 91% 98 99.8 98% 0 0% 96 99.00% 94% 92.0 93 93% 89.4 92 94% 98.0 99 98%
Avg PSF 1 0.94 0.92 0.95 0.95 0.84 0.96 0.96
Avg Rents 884 1114 994 808 883 1131 995
/ Avail)
Units(Total 342 32 507 15 653 216 11 312 24 360 53 0 168 5

Special: look and lease
special $150 security deposit
waived and $350 off first Special: $400.00 off 1st Special: Look and lease
months rent only on Special: Reduced pricing Special:waive security month rent look and lease special $250 to $500 off Special: $150 off the 1st
Rates steepelchases and arlingtons. for all floor plans. Sepcial:None deposit. special. 1st months rent. months rent.
reflect these rates: $680 1/1 $820 2/2 $1320 3/2
specials: special was pulled off the internet
due to property will not give info.

Ren.: 11% increase on all Ren: Info not avail per Ren: $15 to $30 increas Ren: Average $10 to $25 Ren: Free carpet cleaning
Ren: $35 to $50 increase. renewals. corporate Ren:Per corporate for 12 month lease increase. with 12mo.