Courtney Downs December 2006

8/14/2019 Courtney Downs December 2006

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USA Courtney Downs LeaseCo, LLCBalance Sheet

Books = AccrualDec 2006

SETS

55,210.940.00

ts 57,710.71$112,921.65

vable 9,789.44es 37,528.48

251,160.37rk Cap Reserve 40,130.43 Escrow 200,000.00

sets 538,608.72

651,530.37

S & CAPITAL

le - Trade 20,783.50 Payable 549,332.81

340,004.435,004.76

ts 57,710.71(328.39)

972,507.82

100.00gs (321,077.45)

(320,977.45)

ES & CAPITAL 651,530.37


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50%

duction in tax escrow due to overage


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USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = Accrual

For the period ending December 31, 2006

MTD MTD YTD YTD Annual

Actual Budget $ Variance TD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment Filter0.01

316,480.00 364,160.00 (47,680.00) 4,229,400.00 4,302,534.00 (73,134.00) 4,302,534.00 ###35,435.00 0.00 35,435.00 37,565.00 0.00 37,565.00 0.00 ###

351,915.00 364,160.00 (12,245.00) 4,266,965.00 4,302,534.00 (35,569.00) 4,302,534.00 ###Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

342.91 0.00 342.91 342.91 0.00 342.91 0.00 685.82(30,487.33) (40,058.00) 9,570.67 (362,112.60) (390,390.00) 28,277.40 (390,390.00) ###

ons (6,152.27) (2,000.00) (4,152.27) (113,549.62) (24,000.00) (89,549.62) (24,000.00) ###

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(651.73) (500.00) (151.73) (21,691.13) (6,000.00) (15,691.13) (6,000.00) ###

(1,980.00) (1,980.00) 0.00 (23,760.00) (23,760.00) 0.00 (23,760.00) ###

0.00 (575.00) 575.00 Eliminated position. (1,725.00) (6,900.00) 5,175.00 (6,900.00) ###

(1,780.80) (1,900.00) 119.20 (21,369.60) (22,800.00) 1,430.40 (22,800.00) ###enance Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,160.00) (1,130.00) (30.00) (4,190.00) (13,560.00) 9,370.00 (13,560.00) ###

ns (79,130.09) (83,497.00) 4,366.91 (893,873.64) (1,019,064.00) 125,190.36 (1,019,064.00) ###

es Income 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nce 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00$230,915.69 $232,520.00 $(1,604.31) $2,825,036.32 $2,796,060.00 $28,976.32 $2,796,060.00 ###

1.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 68.00 (68.00) 403.23 816.00 (412.77) 816.00 1,287.23

e 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ees 745.00 2,300.00 (1,555.00) 20,266.70 27,600.00 (7,333.30) 27,600.00 ###

m 100.00 300.00 (200.00) 2,212.23 3,600.00 (1,387.77) 3,600.00 6,212.23718.89 1,300.00 (581.11) 10,062.34 15,600.00 (5,537.66) 15,600.00 ###

Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

870.00 1,000.00 (130.00) 13,400.00 12,000.00 1,400.00 12,000.00 ###mages 2,675.00 1,033.00 1,642.00 30,123.44 12,396.00 17,727.44 12,396.00 ###

308.30 500.00 (191.70) 11,742.15 6,000.00 5,742.15 6,000.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

3,271.29 900.00 2,371.29 30,606.02 10,800.00 19,806.02 10,800.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ents 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.006,522.87 8,700.00 (2,177.13) 78,442.04 104,400.00 (25,957.96) 104,400.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00me 1,151.00 1,000.00 151.00 16,899.67 12,000.00 4,899.67 12,000.00 ###

eloper 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

670.00 190.00 480.00 2,160.98 2,280.00 (119.02) 2,280.00 5,300.98s 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,650.00 2,000.00 (350.00) 34,215.00 24,000.00 10,215.00 24,000.00 ###5,987.93 929.00 5,058.93 50,153.91 11,148.00 39,005.91 11,148.00 ###

280.00 225.00 55.00 3,164.12 2,700.00 464.12 2,700.00 6,369.120.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nse 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

utions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

24,950.28 20,445.00 4,505.28 303,851.83 245,340.00 58,511.83 245,340.00 ###1.00

$255,865.97 $252,965.00 $2,900.97 $3,128,888.15 $3,041,400.00 $87,488.15 $3,041,400.00 ###1.00

1.00

Variance due to closingout at 91.52% occupiedand budgeted to closeout at 90%.

Slight increase in upfrontconcessions for the

month to remaincompetitive in market.Up to one month offereddepending on the leaseterm.

We have reduced theprorated concessions onselect units byincreasing renewalsanywhere from $25-$75.

More residents paid ontime resulting in lesslate/NSF fees charged

and collected.

Storage units only 81%occupied.

Aggressive collectionson lease break fees,resulting in one full feeand one partial

Aggressive collectionsfrom current residentswith illegal pets as well

as new move-ins withpets.

Garage occupancy is90%, while some weregiven away free asmove-in incentive andreduced rents.

Positive variance withlease charges anddamages on move outcharges.


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9,343.85 14,316.00 4,972.15 107,081.92 124,082.00 17,000.08 124,082.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010,079.97 9,991.00 (88.97) 121,750.39 86,582.00 (35,168.39) 86,582.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.006,029.60 7,000.00 970.40 42,896.90 42,000.00 (896.90) 42,000.00 ###

2,015.42 2,505.00 489.58 21,659.24 20,210.00 (1,449.24) 20,210.00 ###1,396.50 1,442.00 45.50 17,717.50 17,304.00 (413.50) 17,304.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 21,303.72 0.00 (21,303.72) 0.00 ###2,298.85 2,505.00 206.15 25,851.43 20,210.00 (5,641.43) 20,210.00 ###

31,164.19 37,759.00 6,594.81 358,261.10 310,388.00 (47,873.10) 310,388.00 ###

1.00pplies 1,363.72 600.00 (763.72) 11,040.80 7,200.00 (3,840.80) 7,200.00 ###

(76.17) 1,080.00 1,156.17 10,042.95 12,960.00 2,917.05 12,960.00 ###

rs 79.16 100.00 20.84 1,080.04 1,200.00 119.96 1,200.00 2,459.20137.55 200.00 62.45 2,164.77 2,400.00 235.23 2,400.00 4,902.32

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

tions 0.00 0.00 0.00 534.75 1,645.00 1,110.25 1,645.00 2,179.75

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00918.00 100.00 (818.00) 2,049.90 2,200.00 150.10 2,200.00 5,267.90

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00204.00 200.00 (4.00) 505.00 2,400.00 1,895.00 2,400.00 3,309.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

276.00 750.00 474.00 5,342.90 9,000.00 3,657.10 9,000.00 ###963.01 0.00 (963.01) 4,768.34 0.00 (4,768.34) 0.00 5,731.35

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 3,865.27 3,030.00 (835.27) 37,529.45 39,005.00 1,475.55 39,005.00 ###

1.00

ns 5,148.52 3,452.00 (1,696.52) 54,489.72 42,409.00 (12,080.72) 42,409.00 ###

1,416.70 1,500.00 83.30 8,372.76 10,300.00 1,927.24 10,300.00 ###2,562.88 1,033.00 (1,529.88) 18,742.71 12,396.00 (6,346.71) 12,396.00 ###

0.00 900.00 900.00 17,000.00 10,800.00 (6,200.00) 10,800.00 ###

se 9,128.10 6,885.00 (2,243.10) 98,605.19 75,905.00 (22,700.19) 75,905.00 ###

1.0079.62 2,500.00 2,420.38 4,803.14 33,200.00 28,396.86 33,200.00 ###

s. 1,640.00 2,500.00 860.00 27,085.00 32,500.00 5,415.00 32,500.00 ###

airs 1,275.00 1,200.00 (75.00) 19,757.13 15,900.00 (3,857.13) 15,900.00 ###478.36 200.00 (278.36) 2,093.59 2,400.00 306.41 2,400.00 5,171.95

0.00 500.00 500.00 11.85 6,000.00 5,988.15 6,000.00 6,511.85

0.00 100.00 100.00 660.59 1,200.00 539.41 1,200.00 1,960.59cing 133.05 100.00 (33.05) 1,074.51 1,200.00 125.49 1,200.00 2,507.56

0.00 100.00 100.00 218.86 1,200.00 981.14 1,200.00 1,518.86148.12 300.00 151.88 1,065.19 3,600.00 2,534.81 3,600.00 5,113.31

nse 3,754.15 7,500.00 3,745.85 56,769.86 97,200.00 40,430.14 97,200.00 ###1.00

& Supplies 375.82 750.00 374.18 8,040.71 9,200.00 1,159.29 9,200.00 ###14.35 150.00 135.65 1,116.60 1,800.00 683.40 1,800.00 3,080.95

irs 262.50 75.00 (187.50) 5,279.63 4,200.00 (1,079.63) 4,200.00 9,817.13

s 0.00 150.00 150.00 1,493.93 1,800.00 306.07 1,800.00 3,443.930.00 100.00 100.00 0.00 1,200.00 1,200.00 1,200.00 1,300.00

125.00 400.00 275.00 4,611.33 5,800.00 1,188.67 5,800.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 50.00 50.00 1,712.44 600.00 (1,112.44) 600.00 2,362.44airs 153.02 75.00 (78.02) 2,337.78 900.00 (1,437.78) 900.00 3,465.80

46.92 150.00 103.08 595.27 1,800.00 1,204.73 1,800.00 2,592.190.00 100.00 100.00 90.11 1,200.00 1,109.89 1,200.00 1,390.11

0.00 0.00 0.00 944.62 2,100.00 1,155.38 2,100.00 3,044.62airs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

s (6,003.28) 295.00 6,298.28 5,960.93 11,540.00 5,579.07 11,540.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nse (5,025.67) 2,295.00 7,320.67 32,183.35 42,140.00 9,956.65 42,140.00 ###1.00

(3,750.00) 0.00 3,750.00 25,854.61 32,205.00 6,350.39 32,205.00 ###

694.28 775.00 80.72 6,322.45 10,050.00 3,727.55 10,050.00 ###75.00 75.00 0.00 835.56 900.00 64.44 900.00 1,885.560.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 45.00 45.00 0.00 540.00 540.00 540.00 585.00

8,139.80 1,500.00 (6,639.80) 8,000.17 8,000.00 (0.17) 8,000.00 ###

5,159.08 2,395.00 (2,764.08) 41,012.79 51,695.00 10,682.21 51,695.00 ###

1.00tric 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00er/Sewer 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 0.00unds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00h Remov 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ntenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00rance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Includes a reversal ofaccurals from Octoberand November

fewer leases this monthresulting in lowercommissions

Copier needed newdrum and businesscenter copier needed

repairs as well.Adjusted accruals yearend, per Cherie Hicks.

Staff holiday party andmanager meeting.

Furniture rental andComcast actual bills.

Added a rolling ad atKing Scoopers for$1100 and added newupgraded features toApt shoppers guide.

5 locators referredversus 3 budgeted for.

No residents referralsthis month.

Positive variance due tomaintenance staff doingall paints in houseinstead of contractingoutside vendors.

Less cleans due to lessrentals for the month.

Did not need to replaceany at this time.

Adjusted accruals yearend, per CH.

Adjusted accrual fromprior month

Accrued for snowremoval bills, per CH.


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Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.0011,332.80 10,119.00 (1,213.80) 129,737.11 121,658.00 (8,079.11) 121,658.00 ###

es 1,000.00 1,000.00 0.00 12,000.00 12,000.00 0.00 12,000.00 ###Fee 3,250.00 3,250.00 0.00 39,000.00 39,000.00 0.00 39,000.00 ###

2,795.60 550.00 (2,245.60) 16,635.00 6,600.00 (10,035.00) 6,600.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 (104.00) 0.00 104.00 0.00 (104.00)0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

xpenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00176.12 0.00 (176.12) 1,142.40 1,000.00 (142.40) 1,000.00 2,318.5265.12 50.00 (15.12) 2,661.14 2,600.00 (61.14) 2,600.00 5,376.260.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 3,936.30 1,400.00 (2,536.30) 1,400.00 5,336.30

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

18,619.64 14,969.00 (3,650.64) 205,007.95 184,258.00 (20,749.95) 184,258.00 ###1.00

6,062.88 2,800.00 (3,262.88) 41,490.39 33,600.00 (7,890.39) 33,600.00 ###

ent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,394.47) 4,000.00 5,394.47 27,812.89 35,120.00 7,307.11 35,120.00 ###

11,020.36 7,500.00 (3,520.36) 108,615.53 106,000.00 (2,615.53) 106,000.00 ###

ent Reimb (5,667.47) (4,000.00) 1,667.47 (61,927.47) (50,500.00) 11,427.47 (50,500.00) ###

(795.23) 0.00 795.23 21,095.41 40,840.00 19,744.59 40,840.00 ###bursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(2,604.26) (2,200.00) 404.26 (25,860.00) (26,400.00) (540.00) (26,400.00) ###rsement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

844.17 1,700.00 855.83 10,424.83 20,400.00 9,975.17 20,400.00 ###

171.46 1,100.00 928.54 8,038.66 9,820.00 1,781.34 9,820.00 ###

- Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.007,637.44 10,900.00 3,262.56 129,690.24 168,880.00 39,189.76 168,880.00 ###

1.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LL 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 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 0.00nse 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.0037,179.41 27,200.00 (9,979.41) 352,157.67 326,400.00 (25,757.67) 326,400.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

8,353.88 6,691.00 (1,662.88) 87,738.25 80,292.00 (7,446.25) 80,292.00 ###

0.00 0.00 0.00 700.00 0.00 (700.00) 0.00 700.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

45,533.29 33,891.00 (11,642.29) 440,595.92 406,692.00 (33,903.92) 406,692.00 ###

es 119,835.49 119,624.00 (211.49) 1,399,655.85 1,376,163.00 (23,492.85) 1,376,163.00 ###ME 136,030.48 133,341.00 2,689.48 1,729,232.30 1,665,237.00 63,995.30 1,665,237.00 ###

1.00106,586.67 106,587.00 0.33 1,279,040.04 1,279,044.00 3.96 1,279,044.00 ###

86,666.71 86,667.00 0.29 1,040,000.12 1,040,004.00 3.88 1,040,004.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

193,253.38 193,254.00 0.62 2,319,040.16 2,319,048.00 7.84 2,319,048.00 ###1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00

0.00 0.00 0.00 1,510.50 0.00 (1,510.50) 0.00 1,510.50 Fees 0.00 0.00 0.00 10,726.30 0.00 (10,726.30) 0.00 ###

0.00 0.00 0.00 655.29 0.00 (655.29) 0.00 655.290.00 0.00 0.00 86.91 0.00 (86.91) 0.00 86.91

er 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 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 0.00up Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00se 0.00 0.00 0.00 12,979.00 0.00 (12,979.00) 0.00 ###

1.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 3,000.00 3,000.00 3,000.00 3,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ment 7,935.93 3,300.00 (4,635.93) 60,353.42 63,800.00 3,446.58 63,800.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 236.72 0.00 (236.72) 0.00 236.72

t 0.00 0.00 0.00 4,658.23 0.00 (4,658.23) 0.00 4,658.23

Based on actualexpense.

9 evictions actual versusthe 4 budgeted for.

Includes past duepayments

Adjustment of prioraccural

Resurface of hot tubincluded draining andrefilling. Also includes ayear end accrual

Positive variance due tohigher occupancy thanbudgeted



Based on actual

expense.

Based on actualexpense.

8 carpets actualreplacement versus 3budgeted for do to 5skips this month.


7/52

ments 5,163.03 0.00 (5,163.03) 6,247.03 0.00 (6,247.03) 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 0.0013,098.96 3,300.00 (9,798.96) 71,495.40 66,800.00 (4,695.40) 66,800.00 ###

1.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(70,321.86) (63,213.00) (7,108.86) (674,282.26) (720,611.00) 46,328.74 (720,611.00) ###1.00

56,846.57 0.00 56,846.57 470,890.30 124,335.14 346,555.16 124,335.14 ###(13,475.29) (63,213.00) 49,737.71 (203,391.96) (596,275.86) 392,883.90 (596,275.86) 1.00

New heat exchange forthe hot tub as well asthe hot tub needingresurfacing.


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ourtney Downs ApartmentsDec-06

18 INCOME THIS MONTH: $255,866.0019 INCOME LAST MONTH: $263,270.00-1 DIFFERENCE: -7404

TOTAL # GARAGES 120# GARAGES OCCUPIED 118

90.94%, 91.52% GARAGES OCCUPIED % 98%

REASONS WHY PROSPECTS DID NOT LEASE:

affic Leased

0 0 * Job Transfer 77 1 * Too expensive. 120 0 * Future/No Availability/Waiting list 00 0 * Just started looking. 19

28 5 * Waiting for Home to Sell 00 0 * Current Lease to Expire 6

37 3 * Needs Ground Floor 711 3 * Moved Elsewhere 08 0 * Will return with roommate or spou 228 0 * Realtor Looking for Client 00 0 * Undecided 80 0 * Employment pending 30 0 * House sale pending 3

* Rented at Competitor 099 12 TOTALS 87

3%

FOR THE MONTH

g information.ur fitness for break room.resentative for rolling ad in stores.for the month.

ricing and specials for the month of December .esources at Albertsons Supermarket.

options of temporary housing for new home buyers.

chures and price sheets at Holiday Inn Express.res to Marriott extended stay hotels.er's to First Data Corporation.Chevrolet with brochures.

k one with brochures.ERTIES:discounted rents on selected units.e rents of $625, two bedrooms at $784and three bedrooms starting at $1025.$400.00 off move in as well as prorating concessions on a 12 to 13 month lease with some of our competitors.

of December. Seven are moving due to buying and/or renting houses,erring on site, 2 are going MTM and 1 skipped.ncrease of $43 per renewal.

e property this month.


9/52

ROUTINE REPLACEMENTS:

Number of: Apt. #

11 REFRIGERATORS 07 DISHWASHERS 04 STOVES 0

107 A/C COMPRESSORS 0Completed 0 CONDENSING UNITS 0

47 47 WATER HEATERS 015 15 ICE MAKERS 011 11 GARBAGE DISPOSALS 06 6 MICROWAVES 016 16 CARPETS 3 7211, 9302, 63120 0 CEILING FANS 012 12 TOILETS 00 0 A/C FAN MOTORS 0

107 107 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 0

0 BLINDS 11TUBS RESURFACED 0

TUB TILES 0

RESS:

TION:

cy Howlanddy Gillane McMillanca Branchiel Tellezell Briley

e Chavez and Jorge Bernal

NTH:

NumberReplaced

17201-3, 19201-1, 6212-1, 12207-1, 6312-2, 7304-1, 10311-2.


10/52

TS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION Vacants Notice

S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS

40 704 28,160 830 1.18 $33,200 $398,400 690.00 140.00 0.98 $27,600 6 0 5 1 0

32 704 22,528 860 1.22 $27,520 $330,240 690.00 55.00 1.10 $31,000 0 0 2 0 2

18 910 16,380 935 1.03 $16,830 $201,960 690.00 245.00 0.76 $12,420 2 0 2 0 5

24 808 19,392 895 1.11 $21,480 $257,760 830.00 65.00 1.03 $19,920 13 0 3 0 12

32 808 25,856 925 1.14 $29,600 $355,200 830.00 95.00 1.03 $26,560 0 0 3 0 0

42 977 41,034 1130 1.16 $47,460 $569,520 830.00 300.00 0.85 $34,860 2 1 2 0 13

44 1,030 45,320 1150 1.12 $50,600 $607,200 830.00 320.00 0.81 $36,520 3 0 6 0 7

22 1,030 22,660 1180 1.15 $25,960 $311,520 830.00 350.00 0.81 $18,260 0 0 0 0 0

24 977 23,448 1150 1.18 $27,600 $331,200 830.00 320.00 0.85 $19,920 0 0 0 0 0

16 1,030 16,480 1150 1.12 $18,400 $220,800 830.00 320.00 0.81 $13,280 0 0 0 0 5

20 1,030 20,600 1180 1.15 $23,600 $283,200 830.00 350.00 0.81 $16,600 0 0 0 0 0

24 1,140 27,360 1245 1.09 $29,880 $358,560 1,145.00 100.00 1.00 $27,480 7 0 0 0 3

4 1,140 4,560 1255 1.10 $5,020 $60,240 1,145.00 110.00 1.00 $4,580 0 0 0 0 0

342 917 313,778 $1,044 $1.14 $357,150 $4,285,800 $845 $213 0.92 $289,000 33 1 23 1 47

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


11/52

MARKET SURVEYCourtney Downs

December-06

oyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek

E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr

03-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7220 303-680-6696

Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112

507 653 216 312 380 168

4 7 4 5 4 5

$35.00 $40.00 $35.00 $30.00 $35.00 $40.00yes yes yes yes yes yes

yes yes yes yes yes yes

300-600 150-300 $100 300-500 400-500 300

275-325 300 100 99 100-200 100

yes Only In Select Units Only Select Units no no no




no no no yes yes yes

1 1 1 1 2 1


1 1 1 1 2 1



yes yes yes yes yes yesyes yes yes yes yes yes


no yes yes yes yes yes

yes yes no yes yes yes

no yes yes yes no yes

no no no no no no

no no no no no no



no no no no no no

no yes yes yes yes yes


12/52

MARKET SURVEY Courtney Downs

December-06

(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

fficiency fficiencyB1B (A) 640 704 0.91 690 779 0.89 615 627 0.98 624 685 0.91 700 768 0.91 645 707 0.91 689 763 0.90B1B (B) 660 808 0.82 780 853 0.91 615 701 0.88 700 705 0.99 750 842 0.89

B1B w/study 690 910 0.76 615 811 0.91 784 760 0.96B B

B w/loft B1B w/study 875 956 0.92 784 1051 0.75B2B (E) 800 977 0.82 855 1105 0.77 1110 1044 1.06 1014 1120 0.91 810 1115 0.73 828 1033 0.80 820 1037 0.79

B2B (F) 830 1030 0.81 910 1192 0.76 1440 1196 1.20 880 1220 0.72 832 1093 0.76B2B (G) 860 1030 0.83 1030 1180 0.87

B2B (H)B2B

B w/study B2B TH B2B TH

B2B 1,100 1140 0.96 1215 1398 0.87 1510 1330 1.14 1064 1230 0.87 1050 1356 0.77 1151 1235 0.93 1099 1257 0.87B2B

occ /leased 91 91.52 95% 98 99 98% 0 0% 89.35 93.06 94% 92.3 94 93% 92.0 93 94% 96.0 97 96%

Avg PSF 1 0.84 0.84 0.99 0.90 0.80 0.85 0.86Avg Rents 797 1114 994 808 838 1131 995

/ Avail) 342 33 507 22 653 216 26 312 17 360 22 0 168 16

ates Sepcial:Noneflect these rates1 Bd $725 1 BD $695 to $735 $685 1/1 $805 2/2 $1310 3/2 1 Bd $624 to $784 1 Bd $650 to $880 1 Bd $655 to $784

pecials: 2 Bd $875 2BD $840 to $1000 special was pulled off the inter 2 Bd $784 to $1014 2 Bd $895 to $920 2 Bd $797 to $8823 Bd $1150 3BD $1095 due to property will not give info. 3 Bd $1110 to $1120 3 Bd $942 to $1255

Ren: $25 to $50 increase. Ren:Per corporate

nits(Tot

Special: $100 off of January'srent look and lease special,waiving security deposit.

Special: Reduced pricingfor all floor plans.

Special:waive securitydeposit and $150.00 giftcard to any location.

Special: $400.00 off 1stmonth rent look and leasespecial.

Special: Up to 3 monthsfree on a 12 month lease.

Special: Discounts on allavailable rents.

Ren.: Keep all residents4% under all newresidents.

Ren: Info not avail percorporate

Ren: $40 increas for 12month lease

Ren: Average $10 to $25increase.

Ren: Free carpet cleaningwith 12mo.


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Courtney Downs December 2006

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