Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Jan-08 #REF! #REF! 91.40% (Net Rental income) / (total units * occupancy)
Average Advertising/Locator Cost per Move-In: $225 $206 Feb-08 #REF! #REF! 94.04%
Total Resident Retention per Unit: Mar-08 #REF! #REF! 95.32%
Average Cost per Turn (move-out): $538 $285 Apr-08 #REF! #REF! 93.18%
% Water/Sewer Recovery - MTD & YTD - Actuals 75.32% 71.90% May-08 #REF! #REF! 93.81%
Actual + Bud Budget Jun-08 #REF! #REF! 94.09%
Total Controllable Expenses (/unit/yr.): #REF! #REF! Jul-08 #REF! #REF! 93.94%
Total Non-controllable Expenses (/unit/yr.): #REF! #REF! Aug-08 #REF! #REF! 94.81%
Total Expenses (/unit/yr.): #REF! #REF! Sep-08 $0 0.00% 0.00%
Oct-08 $0 0.00% 0.00%
Nov-08 $0 0.00% 0.00%
Lease Expiration Dec-08 $0 0.00% 0.00%
Sep-08 20.00
Expenses Expenses
Category /unit/yr. Category /unit/yr.
Credit Card Fees $13
Salary Expense $1,003 Service Expense $155
Operating Expense $118 Administrative Expense $419
Advertising Expense $166 Utility Expense $433
Make Ready Expense $193 Taxes & Insurance $1,232
Maintenance Expense $126 Capital Expense $309
Management Expense #N/A
USA Courtney Downs LeaseCo, LLC
Summary Report
Other Revenue
Actual 37,758 28,230 23,739
Budget - Original 25,305 27,910 23,739
Variance 12,453 320 -
Expenses - Controllable
Actual 99,514 76,346 79,854 #REF! ( YTD Actual + Remaining Projected Budget)
Budget - Original 122,872 118,647 114,949 #REF!
Variance 23,358 42,301 35,095 #REF!
Expenses - Capital
Actual 23,117 7,400 6,259
Budget - Original 17,804 6,600 6,259
Variance (5,313) (800) -
Move Ins 17 16 19 16 28 16 31 25
cummulative move in 17 33 52 68 96 112 143 168
Move Outs 17 11 19 21 18 20 33 15
cummulative move out 17 28 47 68 86 106 139 154
Sep Oct Nov Dec
168
168 168 168 168
154
154 154 154 154
USA Courtney Downs LeaseCo,
LLC (10600)
12 Month Occupancy
Showing Occupancy Percentage By Property And Month
Year : 2008
Grouped By : Region
Calculation by : Unit Count
OTHER REVENUES
Late Charges & NSF Fees 1,463.00 1,463.00 1,771.00
Month to Month Premium 300.00 750.00 750.00
Storage Fees 680.00 720.00 880.00
Application Fees 1,176.00 1,323.00 1,519.00
Termination Fees & Damages 0.00 0.00 2,700.00
Miscellaneous Income 600.00 200.00 1,100.00
Interest Income 3,489.00 0.00 0.00
Pet Rents & Fees 3,360.00 3,360.00 3,360.00
Garage Income 6,790.00 6,790.00 6,790.00
Cable/Telephone Income 475.00 475.00 475.00
Forfeited Deposits 300.00 300.00 300.00
Administration Fee 1,820.00 2,100.00 2,660.00
Move-Out Charges 2,400.00 2,400.00 2,400.00
Short Term Lease Fees 500.00 375.00 500.00
TOTAL OTHER REVENUES 23,353.00 20,256.00 25,205.00
TOTAL REVENUE 268,840.00 270,216.00 283,599.00
SALARY EXPENSES
Managers Salary 12,689.00 12,689.00 12,689.00
Maintenance Salary 11,403.00 11,403.00 11,403.00
Commissions & Bonus 3,005.00 3,425.00 3,665.00
Group Insurance 1,720.00 1,720.00 1,720.00
Contract Labor 1,000.00 1,000.00 1,000.00
TOTAL SALARY EXPENSES 29,817.00 30,237.00 30,477.00
OPERATING EXPENSES
Office Operations & Supplies 850.00 850.00 850.00
Telephones 743.00 743.00 743.00
Answering Svc. & Pagers 98.00 98.00 98.00
Postage & Delivery 211.00 211.00 211.00
Publications & Subscriptions 114.00 114.00 114.00
Employee Training 350.00 350.00 300.00
Car Expenses 38.00 38.00 38.00
Credit Checks 288.00 324.00 372.00
Guest Suite Expense 600.00 550.00 500.00
TOTAL OPERATING EXPENSE 3,292.00 3,278.00 3,226.00
ADVERTISING EXPENSES
Advertising & Promotions 7,500.00 3,500.00 3,500.00
Resident Promotions 500.00 400.00 500.00
Locators 723.00 1,446.00 2,025.00
Resident Referrals 500.00 500.00 500.00
TOTAL ADVERTISING EXPENSES 9,223.00 5,846.00 6,525.00
MAINTENANCE EXPENSES
General Maintenance & Supplies 599.00 689.00 1,000.00
HVAC Parts & Repairs 200.00 100.00 100.00
Plumbing Parts & Repairs 120.00 120.00 120.00
Electric Parts & Repairs 40.00 50.00 50.00
Roof & Gutter Repairs 0.00 0.00 0.00
Pools & Fountains 100.00 100.00 100.00
Gates & Entrances 10.00 10.00 10.00
Glass & Screens 260.00 0.00 260.00
Appliance Parts & Repairs 300.00 300.00 300.00
Hardware 120.00 120.00 120.00
Exterior Painting 0.00 0.00 0.00
Uniforms 0.00 0.00 0.00
Security & Fire Systems 450.00 450.00 450.00
TOTAL MAINTENANCE EXPENSE 2,199.00 1,939.00 2,510.00
SERVICE EXPENSES
Landscape & Grounds 0.00 0.00 0.00
Trash Removal 755.00 755.00 755.00
Pest Control 205.00 205.00 205.00
Security Patrols 0.00 0.00 0.00
Snow Removal 3,500.00 3,500.00 3,500.00
TOTAL SERVICE EXPENSES 4,460.00 4,460.00 4,460.00
ADMINISTRATIVE EXPENSES
Management Fees 10,754.00 10,809.00 11,344.00
Legal Fees 400.00 200.00 400.00
Computer Expense 0.00 0.00 0.00
TOTAL ADMINISTRATIVE EXPENSES 11,154.00 11,009.00 11,744.00
UTILITY EXPENSES
Electricity 3,250.00 3,250.00 3,250.00
Natural Gas 1,967.00 1,967.00 1,967.00
Water & Sewer 20,000.00 20,000.00 20,000.00
Water & Sewer - Resident Reimb -13,600.00 -13,600.00 -13,600.00
Water - irrigation 0.00 0.00 0.00
Trash Reimbursement -2,400.00 -2,400.00 -2,400.00
Utility -Vacant Electric 1,505.00 1,415.00 325.00
Utility - Vacant Gas 903.00 849.00 768.00
TOTAL UTILITY EXPENSES 11,625.00 11,481.00 10,310.00
PARTNERSHIP EXPENSES
Partnership Accounting Fees 0.00 0.00 0.00
Partnership Travel 200.00 200.00 200.00
Asset Management Fees 1,000.00 1,000.00 1,000.00
Investor Administration Fee 3,250.00 3,250.00 3,250.00
TOTAL PARTNERSHIP EXPENSES 4,450.00 4,450.00 4,450.00
CAPITAL EXPENSES
Exterior Rehab 0.00 0.00 0.00
HVAC Replacement 0.00 0.00 0.00
Carpet & Floor Replacement 5,000.00 5,000.00 5,000.00
Refrigerators 0.00 0.00 0.00
Dishwashers & Ranges 0.00 259.00 319.00
Washers / Dryers 339.00 0.00 339.00
Other Capital Improvements 0.00 2,139.00 2,610.00
TOTAL CAPITAL EXPENSES 5,339.00 7,398.00 8,268.00
NET INCOME -46,019.00 -43,283.00 -32,075.00
OTHER REVENUES
Late Charges & NSF Fees 2,095.04 2,778.95 1,558.51
Month to Month Premium 455.00 666.00 761.61
Storage Fees 1,217.74 1,270.00 1,278.56
Application Fees 1,800.00 1,500.00 1,050.00
Termination Fees & Damages 5,090.00 2,500.00 5,566.26
Miscellaneous Income 736.40 1,318.85 484.35
Pet Rents & Fees 3,370.97 4,806.71 2,998.22
Garage Income 7,019.83 7,091.17 7,066.89
Cable/Telephone Income 0.00 3,113.37 0.00
Forfeited Deposits 0.00 0.00 300.00
Administration Fee 4,050.00 3,150.00 2,250.00
Move-Out Charges 1,600.34 5,608.70 1,871.78
Short Term Lease Fees 400.00 400.00 544.74
Corporate Rent 0.00 0.00 325.00
TOTAL OTHER REVENUES 27,835.32 34,203.75 26,055.92
TOTAL REVENUE 285,435.33 297,934.75 302,841.44
SALARY EXPENSES
Managers Salary 11,795.28 11,618.56 11,346.86
Maintenance Salary 12,801.68 11,172.74 10,949.05
Commissions & Bonus 4,717.00 3,807.35 3,349.77
Group Insurance 1,490.46 1,490.46 195.24
Contract Labor 21.23 0.00 0.00
TOTAL SALARY EXPENSES 30,825.65 28,089.11 25,840.92
OPERATING EXPENSES
Office Operations & Supplies 1,040.43 0.00 51.40
Telephones 1,211.63 1,200.38 796.96
Answering Svc. & Pagers 125.83 56.83 125.83
Postage & Delivery 288.66 196.82 73.88
Publications & Subscriptions 37.00 84.00 0.00
Employee Training 74.64 65.00 150.17
Permits & Fees 0.00 0.00 0.00
Credit Checks 381.95 561.00 636.65
Guest Suite Expense 499.77 668.32 500.81
TOTAL OPERATING EXPENSES 3,659.91 2,832.35 2,335.70
ADVERTISING EXPENSES
Advertising & Promotions 1,051.00 1,961.49 1,694.00
Resident Promotions 259.91 80.84 32.42
Locators 3,969.81 2,591.50 2,382.08
Resident Referrals 250.00 250.00 0.00
TOTAL ADVERTISING EXPENSES 5,530.72 4,883.83 4,108.50
MAINTENANCE EXPENSES
General Maintenance & Supplies 548.03 241.89 500.52
HVAC Parts & Repairs 0.00 52.85 98.24
Plumbing Parts & Repairs 286.20 47.36 119.76
Electric Parts & Repairs 252.62 0.00 245.42
Pools & Fountains 0.00 169.88 -110.84
Glass & Screens 0.00 0.00 0.00
Appliance Parts & Repairs 273.05 514.57 475.46
Hardware 26.73 1.92 18.61
Uniforms 0.00 0.00 0.00
Security & Fire Systems 16.20 3,232.75 1,769.28
TOTAL MAINTENANCE EXPENSE 1,402.83 4,261.22 3,116.45
SERVICE EXPENSES
Landscape & Grounds 0.00 0.00 0.00
Trash Removal 555.73 731.92 788.10
Pest Control 86.00 153.00 86.00
Snow Removal 6,066.20 330.66 701.86
TOTAL SERVICE EXPENSES 6,707.93 1,215.58 1,575.96
ADMINISTRATIVE EXPENSES
Management Fees 11,360.56 11,917.39 12,113.66
Legal Fees 1,164.90 -901.34 -1,250.00
Bank Charges 0.00 0.00 0.00
Computer Expense 0.00 0.00 0.00
TOTAL ADMINISTRATIVE EXPENSES 12,525.46 11,016.05 10,863.66
UTILITY EXPENSES
Electricity 4,040.14 3,457.01 2,915.98
Natural Gas 3,808.88 3,487.42 2,745.36
Water & Sewer 13,536.27 16,771.41 20,957.09
Water & Sewer - Resident Reimb -16,247.17 -9,812.59 -8,871.37
Water - irrigation 74.35 0.00 0.00
Trash Reimbursement -2,300.14 -2,206.42 -1,803.54
Utility -Vacant Electric 1,439.86 886.14 927.65
Utility - Vacant Gas 561.78 811.79 443.45
TOTAL UTILITY EXPENSES 4,913.97 13,394.76 17,314.62
MANAGEMENT EXPENSES
Property Legal Fees 837.50 1,059.00 0.00
Credit Card Fees 578.11 362.44 0.00
TOTAL MANAGEMENT EXPENSES 1,415.61 1,421.44 0.00
PARTNERSHIP EXPENSES
Partnership Accounting Fees 0.00 0.00 0.00
Partnership Travel 518.50 237.43 354.87
Partnership - Meals 0.00 101.53 70.74
Asset Management Fees 1,000.00 1,000.00 1,000.00
Investor Administration Fee 3,200.00 3,200.00 3,200.00
TOTAL PARTNERSHIP EXPENSES 4,718.50 4,538.96 4,625.61
CAPITAL EXPENSES
Exterior Rehab 1,993.00 0.00 859.02
Interior Rehab 0.00 0.00 0.00
HVAC Replacement 0.00 0.00 540.47
Carpet & Floor Replacement 2,698.32 2,700.47 9,488.59
Refrigerators 0.00 0.00 0.00
Dishwashers & Ranges 0.00 0.00 485.32
Washers / Dryers 296.29 0.00 0.00
Other Capital Improvements 4,746.03 202.76 192.60
TOTAL CAPITAL EXPENSES 9,733.64 2,903.23 11,566.00
NET INCOME -27,908.57 -8,283.13 -11,211.17
TOTAL OF ALL -27,908.57 -8,283.13 -11,211.17
Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08
ASSETS
Cash
Operating Cash 15,738.29
Total Cash $15,738.29
OTHER ASSETS
Accounts Receivable 3,715.71
Prepaid Expenses 19,124.32
Tax Escrow 144,074.19
Cash in Bank-Wrk Cap Reserve 80,219.73
Capital / Repair Escrow 200,000.00
Total Other Assets 447,133.95
LIABILITIES
Accounts Payable - Trade 172,864.06
A/P - Creekstone Partners LLC 342,576.00
A/P - US Advisors 342,576.00
Other Accounts Payable 345,285.05
Accrued Taxes 241,507.76
Prepaid Rent 24,292.90
Security Deposits 45,663.00
Notes Payable 8,544.25
Total Liabilities 1,523,309.02
CAPITAL
Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008 12 Month $/ $/
Account Actual Actual Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Total Unit Sq. Ft.
342 313,778
Revenue
Gross Potential Rent 297,252 295,197 294,829 294,994 296,658 296,653 297,075 297,575 297,076 304,342 304,117 303,954 3,579,722 10,467.02 11.41
- Vacancy (14,979) (13,515) (12,201) (15,566) (15,360) (16,776) (16,865) (14,200) (15,865) (14,995) (22,418) (23,078) (195,817) (572.57) (0.62)
- Concessions & Disc. (10,069) (8,145) (267) (7,022) (9,644) (9,354) (8,894) (8,230) (8,894) (23,621) (24,370) (24,994) (143,505) (419.60) (0.46)
- Other Write-offs & Adj. (14,603) (9,805) (5,576) (8,312) (6,419) (7,331) (5,735) (3,954) (5,735) (6,634) (6,614) (6,605) (87,324) (255.33) (0.28)
Total Rental Income 257,600 263,731 276,786 264,094 265,235 263,191 265,581 271,191 266,582 259,092 250,715 249,277 3,153,076 9,219.52 10.05
Other Income 27,835 34,204 26,056 32,784 34,945 32,874 37,758 28,230 23,739 22,628 24,013 20,220 345,286 1,009.61 1.10
Total Revenue 285,435 297,935 302,841 296,878 300,181 296,065 303,340 299,421 290,321 281,720 274,728 269,497 3,498,362 10,229.13 11.15
Operating Expenses
Salary Expense 30,826 28,089 25,841 26,731 21,154 25,364 41,885 21,906 30,692 29,929 30,554 30,059 343,029 1,003.01 1.09
Operating Expense 3,660 2,832 2,336 3,352 3,896 4,409 3,795 3,198 3,336 3,264 3,204 3,180 40,461 118.31 0.13
Advertising Expense 5,531 4,884 4,109 2,530 3,632 5,794 5,087 6,200 5,340 4,685 4,731 4,259 56,782 166.03 0.18
Make Ready Expense 3,627 3,404 4,423 7,268 4,005 6,515 6,646 8,067 6,289 5,961 5,102 4,850 66,156 193.44 0.21
Maintenance Expense 1,403 4,261 3,116 2,525 1,935 2,826 4,624 3,710 2,513 12,210 2,672 1,388 43,183 126.26 0.14
Service Expense 6,708 1,216 1,576 3,523 12,678 3,604 5,071 3,160 3,960 3,960 3,960 3,460 52,875 154.61 0.17
Administrative Expense 12,525 11,016 10,864 12,483 11,635 13,235 14,944 11,724 11,496 11,269 11,189 10,980 143,359 419.18 0.46
Utility Expense 4,914 13,395 17,315 1,952 12,928 7,131 16,813 18,384 16,228 16,240 11,437 11,491 148,227 433.41 0.47
Credit Card Fees 1,416 1,421 0 599 240 191 649 0 0 0 0 0 4,516 13.20 0.01
Taxes & Insurance 35,029 35,004 35,029 35,029 35,629 35,224 35,029 35,029 35,095 35,095 35,095 35,095 421,382 1,232.11 1.34
Total Operating Exp. 105,638 105,522 104,608 95,992 107,732 104,292 134,543 111,375 114,949 122,613 107,944 104,762 1,319,970 3,859.56 4.21
Net Operating Income 179,797 192,412 198,234 200,886 192,449 191,774 168,796 188,046 175,372 159,107 166,784 164,735 2,178,392 6,369.57 6.94
Base Rent 106,587 106,587 106,587 106,587 106,587 130,152 130,152 130,152 130,152 130,152 130,152 130,152 1,443,997 4,222.21 4.60
Stated Rent 86,667 86,667 86,667 86,667 86,667 86,667 86,667 86,667 86,667 86,667 86,667 86,667 1,040,001 3,040.94 3.31
Partnership Expense 4,719 4,539 4,626 4,787 4,740 4,508 4,200 4,583 4,450 4,450 4,450 4,450 54,501 159.36 0.17
Capital Expense 9,734 2,903 11,566 6,943 7,872 13,807 23,117 7,400 6,259 6,000 5,000 5,000 105,600 308.77 0.34
Cash Flow Frm Operations (27,909) (8,283) (11,211) (4,098) (13,416) (43,360) (75,339) (40,756) (52,155) (68,162) (59,485) (61,534) (465,708) (1,361.72) (1.48)
Rental Guarantees 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash Increase (Decreae) From Assets (88,090) (28,220) (40,732) 355,044 (35,592) (33,916) (31,319) (37,312) 42,875 (7,125) (7,125) (7,125) 81,363
Accounts Payable (22,965) 2,827 942 207 69,651 22,994 45,880 83,754 (16,000) 0 0 0 187,291
Accrued Expenses 20,453 31,811 51,607 (345,380) 44,376 16,001 30,188 30,188 0 0 0 0 (120,754)
Other Payables 920 2,385 345 1,665 (1,490) (150) 2,436 1,045 0 0 0 0 7,156
Mortgages Payable 48,905 (6,027) (5,836) (6,064) (6,293) (6,064) (6,064) (6,064) 0 0 0 0 6,491
Cash Increase (Decrease) From Liab. 47,313 30,997 47,058 (349,572) 106,245 32,780 72,440 108,923 (16,000) 0 0 0 80,184
NET CASH FLOW (68,685) (5,507) (4,886) 1,374 57,237 (44,496) (34,218) 30,855 (25,280) (75,287) (66,610) (68,659) (304,160)
CUMM. NET CASH FLOW 15,378 9,871 4,986 6,360 63,597 19,101 (15,117) 15,738 (9,542) (84,829) (151,439) (220,097)
84063.14
J48: rssmith:
estimated Replacement Reserve draw
USA Courtney Downs LeaseCo, LLC
Budget Comparison
Books = Accrual
For the period ending August 31, 2008
Expense
Managers Salary 10,700.81 13,069.00 2,368.19 Based on actual payroll expense. 91,979.85 102,272.00 10,292.15 154,548.00
Payroll went from semi-monthly to
biweekly.
Salaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 11,024.72 11,745.00 720.28 Based on actual payroll 93,792.14 91,908.00 (1,884.14) 138,888.00
expense.Payroll went from semi-
monthly to biweekly.
Salary - Administrative 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 0.00 4,900.00 4,900.00 30,290.13 33,535.00 3,244.87 46,633.00
Payroll Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Group Insurance 180.22 1,720.00 1,539.78 We have less participants for our 4,092.28 13,760.00 9,667.72 20,640.00
insurance program than what was
anticipated in the budget.
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 0.00 0.00 0.00 1,640.79 3,000.00 1,359.21 5,000.00
Workers Comp 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 21,905.75 31,434.00 9,528.25 221,795.19 244,475.00 22,679.81 365,709.00
Office Operations & Supplies 499.33 850.00 350.67 Less supplies bought for the office 4,701.58 6,800.00 2,098.42 10,200.00
this month.
Telephones 787.83 743.00 (44.83) 7,044.35 5,944.00 (1,100.35) 8,916.00
Answering Svc. & Pagers 69.00 98.00 29.00 1,011.98 784.00 (227.98) 1,176.00
Postage & Delivery 259.94 211.00 (48.94) 1,630.34 1,688.00 57.66 2,532.00
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 0.00 114.00 114.00 1,673.08 912.00 (761.08) 1,368.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Training 245.27 350.00 104.73 2,216.77 2,750.00 533.23 4,150.00
Furniture Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Car Expenses 0.00 38.00 38.00 0.00 304.00 304.00 456.00
Permits & Fees 0.00 0.00 0.00 16.00 0.00 (16.00) 0.00
Books = Accrual
For the period ending August 31, 2008
Guest Suite Expense 480.82 500.00 19.18 4,301.56 4,450.00 148.44 6,450.00
Parking Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 3,197.84 3,444.00 246.16 27,477.26 27,112.00 (365.26) 40,096.00
Advertising & Promotions 1,336.00 3,500.00 2,164.00 Savings due to dropping of Apartment 14,743.54 32,000.00 17,256.46 44,000.00
Guide advertising.
Resident Promotions 76.85 400.00 323.15 1,348.07 3,600.00 2,251.93 5,400.00
Locators 4,286.75 1,827.00 (2,459.75) We had 12 locator fees paid out 19,925.28 12,355.00 (7,570.28) 16,070.00
verses five budgeted.
Resident Referrals 500.00 500.00 0.00 1,750.00 4,000.00 2,250.00 5,500.00
Total Advertising Expense 6,199.60 6,227.00 27.40 37,766.89 51,955.00 14,188.11 70,970.00
Paint & Drywall 1,400.66 540.00 (860.66) Contracted paints due to Jorge being 3,663.58 2,961.00 (702.58) 4,217.00
on vacation.
Books = Accrual
For the period ending August 31, 2008
Carpet Cleaning & Repairs 1,672.00 2,490.00 818.00 Had more carpets replaced this month 9,561.00 13,656.00 4,095.00 19,446.00
than cleans.
Window Coverings 317.47 270.00 (47.47) 2,954.23 2,160.00 (794.23) 3,240.00
Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lock & Keys 387.65 85.00 (302.65) We needed to order locks for turns. 649.61 680.00 30.39 1,020.00
Counter & Tub Resurfacing 426.68 417.00 (9.68) 2,012.68 3,336.00 1,323.32 5,004.00
Other Redecorating 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cleaning Supplies 77.06 158.00 80.94 1,412.63 1,264.00 (148.63) 1,896.00
Total Make Ready Expense 8,066.52 6,819.00 (1,247.52) 43,953.73 46,929.00 2,975.27 69,131.00
General Maintenance & Supplies 580.18 720.00 139.82 5,212.93 6,248.00 1,035.07 8,611.00
HVAC Parts & Repairs 36.93 350.00 313.07 We did not have as many repairs then 615.32 1,900.00 1,284.68 2,300.00
anticipated in the budget.
Plumbing Parts & Repairs 161.54 120.00 (41.54) 1,403.02 960.00 (443.02) 1,440.00
Electric Parts & Repairs 130.38 40.00 (90.38) 782.73 380.00 (402.73) 540.00
Roof & Gutter Repairs 0.00 0.00 0.00 0.00 3,000.00 3,000.00 3,000.00
Pools & Fountains 521.84 600.00 78.16 2,722.52 3,300.00 577.48 4,200.00
Gates & Entrances 0.00 20.00 20.00 0.00 130.00 130.00 150.00
Glass & Screens 0.00 260.00 260.00 None needed at this time. 611.03 1,300.00 688.97 1,820.00
Appliance Parts & Repairs 1,468.72 300.00 (1,168.72) More appliance parts needed than 5,348.41 2,400.00 (2,948.41) 3,600.00
anticipated for turns, such as two
microwave doors and stove parts.
Hardware 0.00 120.00 120.00 None needed at this time. 569.25 960.00 390.75 1,400.00
Exterior Painting 0.00 0.00 0.00 0.00 255.00 255.00 355.00
Uniforms 0.00 0.00 0.00 763.16 300.00 (463.16) 600.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 810.00 200.00 (610.00) Alarm monitoring for the quarter. 6,371.14 2,655.00 (3,716.14) 14,555.00
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 3,709.59 2,730.00 (979.59) 24,399.51 23,788.00 (611.51) 42,571.00
Landscape & Grounds 2,463.64 3,000.00 536.36 We did not have as many mows this 22,791.45 23,581.00 789.55 29,581.00
month then budgeted.
Trash Removal 609.90 755.00 145.10 5,730.27 6,040.00 309.73 9,060.00
Pest Control 86.00 305.00 219.00 No pigeon service at this time. 1,734.75 1,940.00 205.25 2,760.00
Security Patrols 0.00 925.00 925.00 None needed at this time. 0.00 2,775.00 2,775.00 2,775.00
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 7,278.72 14,000.00 6,721.28 19,500.00
Total Service Expense 3,159.54 4,985.00 1,825.46 37,535.19 48,336.00 10,800.81 63,676.00
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 11,950.85 11,583.00 (367.85) Based on % of collections. 95,189.10 90,702.00 (4,487.10) 134,836.00
No Name 0.00 0.00 0.00 0.00 0.00 0.00 0.00
No Name 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Legal Fees (326.00) 200.00 526.00 Filed one sheriff fee and collected one (70.55) 2,000.00 2,070.55 2,800.00
payment from 12309 and one from
7311.
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 98.72 0.00 (98.72) 1,051.08 0.00 (1,051.08) 0.00
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 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Activities 0.00 0.00 0.00 0.00 0.00 0.00 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 2,255.61 3,060.00 804.39 3,060.00
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
Books = Accrual
For the period ending August 31, 2008
Water & Sewer - Resident Reimb (13,385.44) (13,600.00) (214.56) (103,347.38) (108,800.00) (5,452.62) (163,200.00)
Water - irrigation 6,942.70 5,000.00 (1,942.70) Very hot temperature caused us to 16,997.77 27,400.00 10,402.23 37,400.00
water a bit more to preserve lawn.
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (2,348.75) (2,012.00) 336.75 (17,699.71) (17,648.00) 51.71 (25,696.00)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 927.90 797.00 (130.90) 7,080.76 7,904.00 823.24 12,108.00
Utility - Vacant Gas 386.24 478.00 91.76 3,575.79 5,315.00 1,739.21 7,837.00
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 18,383.75 16,130.00 (2,253.75) 92,831.49 117,157.00 24,325.51 172,553.00
Base Rent - Interest Payment 106,361.87 106,361.87 0.00 852,356.42 852,358.07 1.65 1,372,966.07
Base Rent - Principal Payment 23,790.13 23,790.13 0.00 71,032.93 71,032.93 0.00 71,032.93
Stated Rent 86,666.71 86,667.00 0.29 693,333.68 693,336.00 2.32 1,040,004.00
Office Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 216,818.71 216,819.00 0.29 1,616,723.03 1,616,727.00 3.97 2,484,003.00
Partnership Legal Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Accounting Fees 0.00 0.00 0.00 540.00 365.00 (175.00) 365.00
Partnership Travel 350.32 200.00 (150.32) Corporate site visit. 2,248.79 1,600.00 (648.79) 2,400.00
Partnership - Meals 32.76 0.00 (32.76) Corporate site visit. 312.57 0.00 (312.57) 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
Asset Management Fees 0.00 1,000.00 1,000.00 4,000.00 8,000.00 4,000.00 12,000.00
Investor Administration Fee 4,200.00 3,250.00 (950.00) 29,600.00 26,000.00 (3,600.00) 39,000.00
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 4,583.08 4,450.00 (133.08) 36,701.36 35,965.00 (736.36) 53,765.00
CURRENT STAFF:
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) 755 704 1.07 785 779 1.01 759 627 1.21 745 685 1.09 705 768 0.92 720 707 1.02 705 763 0.92
1B1B (B) 870 808 1.08 805 853 0.94 829 701 1.18 750 705 1.06 728 842 0.86 750 796 0.94 725 763 0.95
1B1B w/study 770 910 0.85 899 811 0.91 810 760 1.07 815 992 0.82 805 916 0.88
1B
1B
1B w/loft
1B1B w/study 899 956 0.94 1005 1051 0.96
2B2B (E) 905 977 0.93 940 1105 0.85 909 1044 0.87 1015 1120 0.91 889 1115 0.80 900 1033 0.87 840 1037 0.81
2B2B (F) 920 1030 0.89 980 1192 0.82 1080 1196 0.90 999 1220 0.82 935 1093 0.86 885 1037 0.85
2B2B (G) 945 1030 0.92 1099 1180 0.93
2B2B (H)
2B2B
2B w/study
2B2B TH
2B2B TH
3B2B 1,195 1140 1.05 1190 1398 0.85 1119 1330 0.84 1185 1230 0.96 1190 1356 0.88 1095 1235 0.89 1100 1257 0.88
3B2B 1255 1398 0.90 1095 1235 0.89 1195 1257 0.95
% occ /leased 97 98.00% 96% 97% 0 0% 96% 96.30% 97.2% 98% 93.0% 96% 93.2% 97%
Avg PSF 1 0.97 0.90 0.97 1.01 0.85 0.91 0.89
Avg Rents 909 993 949 918 888 900 908
/ Avail)
Units(Total 342 37 507 24 653 216 22 312 37 360 17 0 168 14
Ren.: 15% increase on all Ren: Info not avail per Ren: $35 to $80 increas Ren: Average $25 to $75 Ren: Free carpet cleaning
Ren: $35 to $75 increase. renewals. corporate Ren:Per corporate for 12 month lease increase. with 12mo.
Apartment Name Courtney Downs Coyote Ranch Windsor @ Meridian Pinnacle @ the Creek
Address 15849 E. Jamison Dr16363 E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd
Phone 720-870-6114 303-693-8787 303-256-7700 303-766-2500
Location Englewood, Co Aurora, Co Englewood, Co 80112 Centennial, Co
# of units 342 507 653 216
Age of Property 5 5 7 4
Application Fee $50.00 $35.00 $40.00 $35.00
Credit Card yes yes yes no
Pets Allowed yes yes yes yes
Pet Deposit 300 n/r 300-600 150-300 $100
Sec. Deposit 150 275-325 300 $100
W/D included Yes yes Only In Select Units Only Select Units
Covered Parking no yes yes yes
Garage Detached yes yes yes
Cable Yes yes yes yes
Tennis Courts no no no no
# of pools 1 1 1 1
Weight Room yes yes yes yes
Jacuzzi yes 1 1 1
Ceiling Fans yes yes yes yes
Microwaves yes yes yes yes
Mini Blinds yes yes yes yes
FF Freezer yes yes yes yes
Icemakers yes yes yes yes
Fireplaces yes no yes yes
Access Gates no yes yes no
Alarm in Unit Prewired no yes yes
Door to Door no no no no
August 08