June Courtney Downs

8/14/2019 June Courtney Downs

1/53

USA Courtney Downs LeaseCo, LLCBalance Sheet

Books = AccrualJun 2008

SETS

17,556.24$17,556.24

vable 3,270.84es 28,805.26

80,457.35eserves 65,969.73

Escrow 200,000.00sets 378,503.18

396,059.42

S & CAPITAL

le - Trade 161,895.14 Payable 928,437.05

181,130.826,083.02

ts 42,182.0120,673.11

1,340,401.15

100.00gs (944,441.73)

(944,341.73)

ES & CAPITAL 396,059.42


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USA Courtney Downs LeaseCo, LLCCash Flow (Actual + Budget)

Books = AccrualFor the 12 Months Ending Dec 2008

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 $ / $ / Dec 2006 12 Month $ / $ /Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.

342 313,778 342 313,778

297,252 295,197 294,829 294,994 296,658 296,653 305,250 305,131 304,686 304,342 304,117 303,954 3,603,063 10,535.27 11.48 364,160 4,585,841 13,408.89 14.61(14,979) (13,515) (12,201) (15,566) (15,360) (16,776) (15,591) (15,591) (16,802) (19,995) (22,418) (23,078) (201,872) (590.27) (0.64) (43,000) (290,959) (850.76) (0.93)(10,069) (8,145) (267) (7,022) (9,644) (9,354) (19,316) (21,188) (22,560) (23,621) (24,370) (24,994) (180,550) (527.92) (0.58) (80,000) (310,443) (907.73) (0.99)(14,603) (9,805) (5,576) (8,312) (6,419) (7,331) (6,693) (6,681) (6,663) (6,634) (6,614) (6,605) (91,937) (268.82) (0.29) (6,085) (111,511) (326.05) (0.36)257,600 263,731 276,786 264,094 265,235 263,191 263,650 261,671 258,661 254,092 250,715 249,277 3,128,704 9,148.26 9.97 235,075 3,872,929 11,324.35 12.34

27,835 34,204 26,056 32,784 34,945 32,874 28,000 27,910 23,739 22,628 24,013 20,220 335,208 980.14 1.07 19,000 399,422 1,167.90 1.27285,435 297,935 302,841 296,878 300,181 296,065 291,650 289,581 282,400 276,720 274,728 269,497 3,463,911 10,128.40 11.04 254,075 4,272,351 12,492.25 13.62

30,826 28,089 25,841 26,731 21,154 25,364 38,046 31,434 30,692 29,929 30,554 30,059 348,718 1,019.64 1.11 37,759 448,111 1,310.27 1.433,660 2,832 2,336 3,352 3,896 4,409 3,544 3,444 3,336 3,264 3,204 3,180 40,457 118.29 0.13 3,030 49,989 146.17 0.165,531 4,884 4,109 2,530 3,632 5,794 6,327 6,227 5,340 4,685 4,731 4,259 58,049 169.73 0.19 6,885 74,094 216.65 0.243,627 3,404 4,423 7,268 4,005 6,515 6,819 6,819 6,289 5,961 5,102 4,850 65,081 190.30 0.21 7,500 82,724 241.88 0.261,403 4,261 3,116 2,525 1,935 2,826 2,920 2,730 2,513 12,210 2,672 1,388 40,499 118.42 0.13 2,295 46,973 137.35 0.156,708 1,216 1,576 3,523 12,678 3,604 4,985 4,985 3,960 3,960 3,960 3,460 54,614 159.69 0.17 2,395 64,589 188.86 0.21

12,525 11,016 10,864 12,483 11,635 13,235 14,818 11,783 11,496 11,269 11,189 10,980 143,293 418.98 0.46 14,969 180,850 528.80 0.584,914 13,395 17,315 1,952 12,928 7,131 16,930 16,130 16,228 16,240 11,437 11,491 146,090 427.16 0.47 10,900 180,346 527.33 0.571,416 1,421 0 599 240 191 0 0 0 0 0 0 3,867 11.31 0.01

35,029 35,004 35,029 35,029 35,629 35,224 35,095 35,095 35,095 35,095 35,095 35,095 421,514 1,232.50 1.34 0 422,748 1,236.11 1.3537,237 37,237 108.88 0.12

105,638 105,522 104,608 95,992 107,732 104,292 129,484 118,647 114,949 122,613 107,944 104,762 1,322,183 3,866.03 4.21179,797 192,412 198,234 200,886 192,449 191,774 162,166 170,934 167,451 154,107 166,784 164,735 2,141,729 6,262.36 6.83 122,970 1,587,660 4,642.28 5.06

131,106 2,684,690 7,849.97 8.56

193,253 193,253 193,253 193,253 193,253 216,819 216,819 216,819 216,819 216,819 216,819 216,819 2,484,000 7,263.16 7.924,719 4,539 4,626 4,787 4,740 4,508 4,450 4,450 4,450 4,450 4,450 4,450 54,618 159.70 0.17 193,254 256,932 751.26 0.829,734 2,903 11,566 6,943 7,872 13,807 17,804 6,600 6,259 6,000 5,000 5,000 99,488 290.90 0.32 0 109,779 320.99 0.35

3,300 3,300 9.65 0.01(27,909) (8,283) (11,211) (4,098) (13,416) (43,360) (76,907) (56,935) (60,077) (73,162) (59,485) (61,534) (496,377) (1,451.40) (1.58)

(65,449) 2,314,679 6,768.07 7.380 0 0 0 0 0 0 0 0 0 0 0 0

250,000 250,000

0 0 0 0 0 0 0 0 0 0 0 0 0(1,895) 2,740 (9,772) 8,270 (2,448) 177 0 0 0 0 0 0 (2,928) 0 (2,928)

(50,394) 4,840 4,840 4,840 4,840 4,840 0 0 0 0 0 0 (26,192) 0 (26,192)(35,800) (35,800) (35,800) 341,933 (37,985) (38,933) (7,125) 14,250 (7,125) (7,125) (7,125) (7,125) 136,239 0 121,989

(2,951) (2,951)

s (88,090) (28,220) (40,732) 355,044 (35,592) (33,916) (7,125) 14,250 (7,125) (7,125) (7,125) (7,125) 107,119

(2,951) 89,918(22,965) 2,827 942 207 69,651 22,994 0 0 0 0 0 0 73,65620,453 31,811 51,607 (345,380) 44,376 16,001 0 0 0 0 0 0 (181,131) 0 (181,131)

920 2,385 345 1,665 (1,490) (150) 0 0 0 0 0 0 3,675 0 3,67548,905 (6,027) (5,836) (6,064) (6,293) (6,064) 0 0 0 0 0 0 18,620 0 18,620

0 0

. 47,313 30,997 47,058 (349,572) 106,245 32,780 0 0 0 0 0 0 (85,179)0 (158,835)

(68,685) (5,507) (4,886) 1,374 57,237 (44,496) (84,032) (42,685) (67,202) (80,287) (66,610) (68,659) (474,437)

13,834 8,327 3,441 4,815 62,052 17,556 (66,476) (109,161) (176,363) (256,650) (323,260) (391,919) 181,601 2,495,762181,601

UnSq. Ft.

## 384807

ba 160 146,080

cas 356 384,807

ce 300 274,080

co 257 254,074

jac 247 221,730

lee 10 22,160

re 428 398,868

ric 5 24,952

par 300 305,832

pol 440 403,761

sat 440 548,750

sw 240 264,892

trai 280 286,056

vlg 120 108,276

wa 284 254,103

we 12 48,309

wi 346 433,196

usa 280 299,111

usa 284 254,103

Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008

Row 60 Row 61


3/53

s by 50%

+ reduction in tax escrow due to overage


4/53

USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = AccrualFor the period ending June 30, 2008

MTD MTD YTD YTD AnnualActual Budget $ Variance MTD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment Filter

0.01

295,420.00 297,830.00 (2,410.00) M arket rent increase will reflect in July 1,770,279.00 1,780,140.00 (9,861.00) 3,587,640.00 4,143,669.00

1,233.00 8,157.00 (6,924.00) 5,304.00 54,303.00 (48,999.00) 74,283.00 68,997.00

296,653.00 305,987.00 (9,334.00) 1,775,583.00 1,834,443.00 (58,860.00) 3,661,923.00 4,212,666.00

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

(16,776.46) (17,809.00) 1,032.54 (88,396.60) (139,950.00) 51,553.40 (253,425.00) (262,932.06)

0.00 (3,000.00) 3,000.00 7,576.58 (24,000.00) 31,576.58 (42,000.00) (19,423.42)

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

(3,080.11) (1,621.00) (1,459.11) (25,091.72) (9,470.00) (15,621.72) (18,910.00) (39,262.83)

(1,645.00) (1,980.00) 335.00 Rent will be increased in July. (11,210.00) (11,880.00) 670.00 (23,760.00) (26,715.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(1,950.80) (1,935.00) (15.80) (11,985.77) (11,610.00) (375.77) (23,220.00) (27,481.57)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(655.00) (1,160.00) 505.00 Unit was rented for three nights. (3,760.00) (6,960.00) 3,200.00 (13,920.00) (12,535.00)

(9,354.20) (14,444.00) 5,089.80 (52,077.85) (87,838.00) 35,760.15 (205,887.00) (163,714.05)

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 0.00

$263,191.43 $264,038.00 $(846.57) $1,590,637.64 $1,542,735.00 $47,902.64 $3,080,801.00 3,660,602.071.00

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

1,736.73 1,925.00 (188.27) 13,239.25 10,472.00 2,767.25 21,791.00 27,372.981,815.00 750.00 1,065.00 6,689.07 3,750.00 2,939.07 9,450.00 13,004.07

1,100.32 920.00 180.32 7,135.55 4,960.00 2,175.55 11,120.00 14,115.87

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.002,600.00 2,107.00 493.00 10,800.00 9,800.00 1,000.00 19,796.00 25,307.00

2,500.00 2,700.00 (200.00) 18,292.11 8,100.00 10,192.11 13,500.00 31,592.111,476.99 600.00 876.99 6,522.68 3,500.00 3,022.68 8,000.00 12,099.67

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 3,489.00 (3,489.00) 3,489.00 3,489.00

3,901.68 4,200.00 (298.32) Fewer pets moved in this month. 21,427.99 21,000.00 427.99 41,160.00 50,529.67

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 0.006,829.00 6,790.00 39.00 42,033.37 40,740.00 1,293.37 81,480.00 96,392.37

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 475.00 (475.00) 9,856.49 2,850.00 7,006.49 5,700.00 13,181.49

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 0.000.00 500.00 (500.00) No deposits forfeited this month. 900.00 2,200.00 (1,300.00) 4,100.00 3,600.00

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 0.00 0.00 0.00 0.00 0.00

4,500.00 3,920.00 580.00 21,750.00 16,940.00 4,810.00 33,880.00 47,110.00

5,614.30 2,400.00 3,214.30 26,621.60 15,600.00 11,021.60 30,000.00 50,235.90

800.00 625.00 175.00 3,344.74 2,875.00 469.74 6,625.00 7,644.74

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 85.00 0.00 85.00 0.00 85.000.00 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 0.00

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 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

32,874.02 27,912.00 4,962.02 188,697.85 146,276.00 42,421.85 290,091.00 395,759.871.00

$296,065.45 $291,950.00 $4,115.45 $1,779,335.49 $1,689,011.00 $90,324.49 $3,370,892.00 4,056,361.941.00

1.0010,294.54 12,689.00 2,394.46 64,224.93 76,134.00 11,909.07 154,548.00 163,342.47

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

10,707.96 11,403.00 695.04 66,373.03 68,418.00 2,044.97 138,888.00 156,901.99

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.003,543.75 5,305.00 1,761.25 22,257.63 23,735.00 1,477.37 46,633.00 54,841.38

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00180.22 1,720.00 1,539.78 3,641.73 10,320.00 6,678.27 20,640.00 15,861.95

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 0.00637.26 0.00 (637.26) 1,507.03 3,000.00 1,492.97 5,000.00 5,144.29

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0025,363.73 31,117.00 5,753.27 158,004.35 181,607.00 23,602.65 365,709.00 396,092.08

1.001,790.23 850.00 (940.23) 3,443.59 5,100.00 1,656.41 10,200.00 11,183.82

795.62 743.00 (52.62) 5,475.26 4,458.00 (1,017.26) 8,916.00 11,471.88

125.83 98.00 (27.83) 685.98 588.00 (97.98) 1,176.00 1,497.81198.90 211.00 12.10 1,120.06 1,266.00 145.94 2,532.00 2,795.96

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

157.00 114.00 (43.00) 1,498.08 684.00 (814.08) 1,368.00 2,453.08

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00222.58 350.00 127.42 1,771.68 2,050.00 278.32 4,150.00 4,394.26

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Variance reflects market rent verseslease rents.

We achieved higher occupancythismonth, our vacancy was 5.6% and wewere budgeted to be 5.8%.

No upfront concessions offered at this

time.

We had one unit that skipped owing afull months rent.

We have been able to reduce theamount of concessions offered due tohigher occupancy.

Two month to month fees budgeted,actual collected was five.

We had 42 applications budgeted andactual collected was 52.

This includes collection of 17 creditcard fees and 16 utility transfer fees.

Cable income check is quarterly andwe received that last month.

Collected 30 administration fees whenbudgeted for 26.

More damages at move out thananticipated.

Shorter payrolls due to conversion tobiweekly pay.

Shorter payrolls due to conversion to

biweekly pay.

We paid out fewer new move ins andrenewals this month.

We have less participants for ourinsurance program then what wasanticipated in the budget.

We used a temp in the office due toone open position for a short time.

Old office supply bill unpaid frommonth ago of $1400. Favorable YTD.


5/53

0.00 38.00 38.00 0.00 228.00 228.00 456.00 266.000.00 0.00 0.00 16.00 0.00 (16.00) 0.00 16.00

601.20 516.00 (85.20) 3,190.55 2,400.00 (790.55) 4,848.00 6,707.75517.26 600.00 82.74 3,283.34 3,350.00 66.66 6,450.00 7,750.60

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.004,408.62 3,520.00 (888.62) 20,484.54 20,124.00 (360.54) 40,096.00 48,537.16

1.002,571.62 3,500.00 928.38 10,354.54 25,000.00 14,645.46 44,000.00 41,426.16

267.20 400.00 132.80 1,118.92 2,700.00 1,581.08 5,400.00 4,486.122,705.65 1,705.00 (1,000.65) 14,256.82 8,701.00 (5,555.82) 16,070.00 27,368.47

250.00 500.00 250.00 We had one resident referral. 750.00 3,000.00 2,250.00 5,500.00 4,500.00

5,794.47 6,105.00 310.53 26,480.28 39,401.00 12,920.72 70,970.00 77,780.75

1.00(3.75) 405.00 408.75 1,837.53 1,881.00 43.47 4,217.00 4,119.78

Savings due to dropping of ApartmentGuide advertising.

Five locators budgeted and we hadeight referrals.

No paint supplies or contract workneeded this month. In house staffpainted the units.


6/53

3,050.00 2,859.00 (191.00) 16,070.00 17,154.00 1,084.00 34,308.00 39,133.00

2,419.00 1,868.00 (551.00) 6,786.00 8,676.00 1,890.00 19,446.00 19,749.00

278.96 270.00 (8.96) 1,804.34 1,620.00 (184.34) 3,240.00 3,973.300.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

46.85 85.00 38.15 235.09 510.00 274.91 1,020.00 876.94353.31 417.00 63.69 1,586.00 2,502.00 916.00 5,004.00 4,858.31

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00370.14 158.00 (212.14) 922.04 948.00 25.96 1,896.00 2,398.18

6,514.51 6,062.00 (452.51) 29,241.00 33,291.00 4,050.00 69,131.00 75,108.51

1.00834.38 720.00 (114.38) 3,301.21 4,628.00 1,326.79 8,611.00 9,483.5955.39 350.00 294.61 We had no repairs this month. 524.16 1,200.00 675.84 2,300.00 2,129.55

185.72 120.00 (65.72) 1,034.52 720.00 (314.52) 1,440.00 2,060.2450.36 50.00 (0.36) 652.35 290.00 (362.35) 540.00 1,042.71

0.00 1,500.00 1,500.00 No repairs needed at this time. 0.00 3,000.00 3,000.00 3,000.00 4,500.00

537.57 600.00 62.43 1,243.11 2,100.00 856.89 4,200.00 4,480.680.00 20.00 20.00 0.00 90.00 90.00 150.00 110.00

239.19 0.00 (239.19) 611.03 780.00 168.97 1,820.00 1,630.22

915.84 300.00 (615.84) 3,135.45 1,800.00 (1,335.45) 3,600.00 6,151.29

7.18 120.00 112.82 458.26 720.00 261.74 1,400.00 1,305.440.00 100.00 100.00 0.00 255.00 255.00 355.00 355.000.00 0.00 0.00 32.32 300.00 267.68 600.00 332.320.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 5.00 5.00 5,073.64 2,255.00 (2,818.64) 14,555.00 7,333.640.00 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

2,825.63 3,885.00 1,059.37 16,066.05 18,138.00 2,071.95 42,571.00 40,914.68

1.002,446.05 3,000.00 553.95 Monthly service only this month. 17,092.49 17,581.00 488.51 29,581.00 40,119.54

1,020.75 755.00 (265.75) 4,290.50 4,530.00 239.50 9,060.00 10,596.25

137.00 305.00 168.00 642.75 1,330.00 687.25 2,760.00 2,414.750.00 925.00 925.00 None used at this time. 0.00 925.00 925.00 2,775.00 1,850.00

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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 7,278.72 14,000.00 6,721.28 19,500.00 21,278.72

3,603.80 4,985.00 1,381.20 29,304.46 38,366.00 9,061.54 63,676.00 76,259.261.00

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 0.000.00 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 0.000.00 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

0.0011,830.72 11,678.00 (152.72) Based on % of collections. 71,104.67 67,561.00 (3,543.67) 134,836.00 162,174.39

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 0.00601.90 200.00 (401.90) (353.04) 1,600.00 1,953.04 2,800.00 2,048.86

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 0.00802.36 0.00 (802.36) Reflects four months of bank charges. 952.36 0.00 (952.36) 0.00 1,754.72

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 53.60 0.00 (53.60) 3,060.00 53.60

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

We had more turns this month thanbudgeted.

We had more turns this month thanbudgeted.

More turns this month, Includespurcahse of doggy bags for the petstations.

Needed new screens for turns due todamage.

Two microwave doors for turns, drippans, brackets for fridges.

One extra pick up for the month ofJune.

Nine evictions filed and two budgetedfor.


7/53

13,234.98 11,878.00 (1,356.98) 71,757.59 69,161.00 (2,596.59) 140,696.00 166,031.571.00

2,551.94 3,500.00 948.06 19,261.76 20,250.00 988.24 40,500.00 45,563.70

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.002,668.28 1,967.00 (701.28) 14,101.99 11,802.00 (2,299.99) 23,604.00 30,539.27

17,130.91 20,000.00 2,869.09 Based on actual expense. 104,516.06 120,000.00 15,483.94 240,000.00 261,646.97

(16,985.04) (13,600.00) 3,385.04 (78,873.00) (81,600.00) (2,727.00) (163,200.00) (191,058.04)

3,178.50 5,800.00 2,621.50 3,914.57 16,600.00 12,685.43 37,400.00 29,493.07

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(2,375.40) (2,012.00) 363.40 Residents pay a flat rate fee. (13,094.81) (13,624.00) (529.19) (25,696.00) (31,106.21)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00599.49 920.00 320.51 Savings due to higher occupancy. 4,946.78 6,310.00 1,363.22 12,108.00 12,776.27

362.16 552.00 189.84 Savings due to higher occupancy. 2,861.07 4,359.00 1,497.93 7,837.00 17,659.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

7,130.84 17,127.00 9,996.16 57,634.42 84,097.00 26,462.58 172,553.00 165,989.261.00

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 0.000.00 0.00 0.00 1,896.50 0.00 (1,896.50) 0.00 1,896.50

191.14 0.00 (191.14) Actual credit card fee for the month. 1,970.34 0.00 (1,970.34) 0.00 2,161.48

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 0.000.00 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

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00191.14 0.00 (191.14) 3,866.84 0.00 (3,866.84) 0.00 4,057.98

1.0030,188.47 30,188.00 (0.47) 181,130.82 181,128.00 (2.82) 362,256.00 422,635.29

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.005,035.65 4,850.00 (185.65) 29,213.52 29,100.00 (113.52) 58,200.00 68,199.17

0.00 57.00 57.00 600.00 342.00 (258.00) 684.00 999.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

35,224.12 35,095.00 (129.12) 210,944.34 210,570.00 (374.34) 421,140.00 491,833.46104,291.84 119,774.00 15,482.16 623,783.87 694,755.00 70,971.13 1,386,542.00 1,542,604.71191,773.61 172,176.00 19,597.61 1,155,551.62 994,256.00 161,295.62 1,984,350.00 2,513,757.23

1.00106,586.67 106,586.67 0.00 639,520.02 639,521.67 1.65 1,420,433.67 1,492,215.0323,565.33 23,565.33 0.00 23,565.33 23,565.33 0.00 23,565.33 94,261.3286,666.71 86,667.00 0.29 520,000.26 520,002.00 1.74 1,040,004.00 1,213,335.97

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00216,818.71 216,819.00 0.29 1,183,085.61 1,183,089.00 3.39 2,484,003.00 2,799,812.321.00

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 0.000.00 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 0.00 0.000.00 0.00 0.00 540.00 365.00 (175.00) 365.00 905.00

255.51 200.00 (55.51) 1,898.47 1,200.00 (698.47) 2,400.00 3,553.9852.40 0.00 (52.40) 279.81 0.00 (279.81) 0.00 332.21

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 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 1,000.00 1,000.00 None booked at this time. 4,000.00 6,000.00 2,000.00 12,000.00 11,000.00

4,200.00 3,250.00 (950.00) Investor reporting fee. 21,200.00 19,500.00 (1,700.00) 39,000.00 48,150.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.004,507.91 4,450.00 (57.91) 27,918.28 27,065.00 (853.28) 53,765.00 63,941.19

1.00

0.00 1,215.00 1,215.00 Did not replace utility doors yet. 2,852.02 6,721.00 3,868.98 16,846.00 10,788.02

0.00 0.00 0.00 1,021.68 0.00 (1,021.68) 0.00 1,021.680.00 600.00 600.00 No repairs needed at this time. 540.47 600.00 59.53 1,800.00 1,740.47

10,149.40 6,000.00 (4,149.40) 34,341.60 32,000.00 (2,341.60) 66,000.00 82,491.00

0.00 0.00 0.00 651.41 690.00 38.59 1,450.00 1,341.410.00 259.00 259.00 485.32 1,156.00 670.68 1,734.00 1,900.32

0.00 0.00 0.00 890.25 1,017.00 126.75 1,017.00 1,907.250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

We had lower cost than anticipated inthe budget.

Due to higher gas prices our expensehas increased.

As of June 1st we started collectingthe reimbursement in house which hasimproved the collections.

We had lower cost than anticipated inthe budget.

Budgeted for five carpets and wereplaced nine, and had two end ofmonth bills from May come in forpayment in June.


8/53

3,657.50 0.00 (3,657.50) 12,042.09 11,899.00 (143.09) 11,899.00 27,598.59

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

13,806.90 8,074.00 (5,732.90) 52,824.84 54,083.00 1,258.16 100,746.00 128,788.741.00

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

(43,359.91) (57,167.00) 13,807.09 (108,277.11) (269,981.00) 161,703.89 (654,164.00) (478,785.02)1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(43,359.91) (57,167.00) 13,807.09 (108,277.11) (269,981.00) 161,703.89 (654,164.00) 0.00

BBQ installed for the pool area, A/Crepaired for #13204, replaced the poolpump and installed a new water metergage.


9/53


10/53

ROUTINE REPLACEMENTS:

Number of: Apt. #

19 REFRIGERATORS 012 DISHWASHERS 07 WINDOWS 0

164 A/C COMPRESSORS 0ompleted 0 CONDENSING UNITS 0

11 11 WATER HEATERS 032 32 ICE MAKERS 1 1910319 19 GARBAGE DISPOSALS 023 23 MICROWAVES 0

62 62 CARPETS/vinyl 90 0 CEILING FANS 017 17 TOILETS 00 0 A/C FAN MOTORS 0

164 164 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 0

0 BLINDS 24

TUBS RESURFACED 0TUB TILES 0

RESS:

TION:

y Howlande McMillanyanna BlackHawkinsel Tellezell BrileyChavez and Jorge Bernal

TH:

onco's parkway.azard.

NumberReplaced

6304, 2206, 12104, 7102, 6103,2105, 7309, 13101, 13204.

2209-2, 10103-2, 19302-1, 6304-1,12112-3, 10205-2, 2206-2, 19310-1, 16302-1, 10201-2, 9207-2,12104-1, 7102-2, 12207-2.


11/53

MARKET SURVEYCourtney Downs

June-08

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 303-805-7200 303-680-6696

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

507 653 216 312 360 168

5 7 4 6 6 6

$35.00 $40.00 $35.00 $40.00 $35.00 $50.00yes yes no yes no yes

yes yes yes yes yes yes

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

275-325 300 $300 $100.00 $200-300 100

yes Only In Select Units Only Select Units no yes no

yes yes yes 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


12/53

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 28,160 725 1.03 $29,000 $348,000 725.00 1.03 $29,000 3 3 13 6 7

32 704 22,528 725 1.03 $27,520 $330,240 725.00 1.03 $27,520 0 0 0 0 0

18 910 16,380 850 0.93 $15,300 $183,600 850.00 0.93 $15,300 0 0 1 0 1

24 808 19,392 750 0.93 $18,000 $216,000 750.00 0.93 $18,000 1 1 5 3 2

32 808 25,856 760 0.94 $24,320 $291,840 760.00 0.94 $24,320 0 0 0 0 0

42 977 41,034 875 0.90 $36,750 $441,000 875.00 0.90 $36,750 5 3 10 5 7

44 1,030 45,320 900 0.87 $39,600 $475,200 900.00 0.87 $39,600 2 2 13 3 10

22 1,030 22,660 925 0.90 $20,350 $244,200 925.00 0.90 $20,350 0 0 0 0 0

24 977 23,448 875 0.90 $21,000 $252,000 875.00 0.90 $21,000 0 0 0 0 0

16 1,030 16,480 925 0.90 $14,800 $177,600 925.00 0.90 $14,800 1 1 4 3 1

20 1,030 20,600 925 0.90 $18,500 $222,000 925.00 0.90 $18,500 0 0 0 0 0

24 1,140 27,360 1160 1.02 $27,840 $334,080 1,160.00 1.02 $27,840 2 1 5 1 5

4 1,140 4,560 1160 1.02 $4,640 $55,680 1,160.00 1.02 $4,640 0 0 0 0 0

342 917 313,778 $870 $0.95 $297,620 $3,571,440 $870 0.95 $297,620 14 11 51 21 33

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


13/53

MARKET SURVEY Courtney Downs

June-08

(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) 725 704 1.03 725 779 0.93 715 627 1.14 705 685 1.03 700 768 0.91 695 707 0.98 690 763 0.90B1B (B) 850 808 1.05 805 853 0.94 740 701 1.06 800 705 1.02 715 842 0.85 700 796 0.88 710 763 1.05

B1B w/study 750 910 0.82 820 811 0.91 805 760 1.03 720 992 0.73 710 916 0.78B B

B w/loft B1B w/study 835 956 0.87 900 1051 0.86B2B (E) 875 977 0.90 925 1105 0.84 915 1044 0.88 915 1120 0.82 805 1115 0.72 800 1033 0.77 810 1037 0.78

B2B (F) 900 1030 0.87 940 1192 0.79 960 1196 0.80 815 1220 0.67 830 1093 0.76 825 1037 1.23

B2B (G) 925 1030 0.90 980 1180 0.83B2B (H)B2B

B w/study B2B TH B2B TH

B2B 1,160 1140 1.02 1185 1398 0.85 1215 1330 0.91 985 1230 0.80 1000 1356 0.74 1005 1235 0.81 925 1257 0.74B2B 1205 1398 0.91 1055 1235 1.04 1015 1257 1.10

% occ /leased 96 99.42% 96% 99% 0 0% 93% 94.20% 91.4% 90% 92.1% 94% 92.5% 96%

Avg PSF 1 0.94 0.88 0.93 0.93 0.77 0.86 0.97

Avg Rents 884 1114 994 808 793 1131 995/ Avail) 342 25 507 17 653 216 34 312 45 360 26 0 168 10

Rateseflect these rates:

pecials:

Ren: $50 to $75 increase. Ren:Per corporate

Units(Tot

Special: Waived securitydeposit with approved credit.

Special: One month freeon 12 to 13 month lease.

Will not give out anyinformation.

Special:1/2 month freewith look and lease.

Special: One month free orgiftcertificate to the mallw/look and lese special.

Special: 1/2 month off 12 to13 month leases.

Special: One month free on a12 to 13 month special.

Ren.: 15% increase on allrenewals.

Ren: Info not avail percorporate

Ren: $35 to $80 increasfor 12 month lease

Ren: Average $25 to $75increase.

Ren: Free carpet cleaningwith 12mo.


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June Courtney Downs

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