july courtney downs

8/14/2019 July Courtney Downs

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USA Courtney Downs LeaseCo, LLCBalance Sheet

Books = AccrualJul 2008

SETS

(14,753.39)$(14,753.39)

vable 496.63es 23,964.79

112,265.77rk Cap Reserve 73,094.73 Escrow 200,000.00

sets 409,821.92

395,068.53

S & CAPITAL

le - Trade 118,870.66e Partners LLC 322,576.00

rs 322,576.00 Payable 345,285.05

211,319.2934,532.19

ts 44,618.0014,608.68

1,414,385.87

ners LLC 50.00C 50.00gs (1,019,417.34)

(1,019,317.34)

ES & CAPITAL 395,068.53


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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 Actual Budget Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.

342 313,778 342 313,778

297,252 295,197 294,829 294,994 296,658 296,653 297,075 297,075 304,686 304,342 304,117 303,954 3,586,832 10,487.81 11.43 364,160 4,569,562 13,361.29 14.56(14,979) (13,515) (12,201) (15,566) (15,360) (16,776) (16,865) (15,865) (16,802) (19,995) (22,418) (23,078) (203,419) (594.79) (0.65) (43,000) (292,511) (855.29) (0.93)(10,069) (8,145) (267) (7,022) (9,644) (9,354) (8,894) (8,894) (22,560) (23,621) (24,370) (24,994) (157,835) (461.50) (0.50) (80,000) (287,661) (841.11) (0.92)(14,603) (9,805) (5,576) (8,312) (6,419) (7,331) (5,735) (5,735) (6,663) (6,634) (6,614) (6,605) (90,033) (263.25) (0.29) (6,085) (109,600) (320.47) (0.35)257,600 263,731 276,786 264,094 265,235 263,191 265,581 266,581 258,661 254,092 250,715 249,277 3,135,545 9,168.26 9.99 235,075 3,879,791 11,344.42 12.36

27,835 34,204 26,056 32,784 34,945 32,874 37,758 27,500 23,739 22,628 24,013 20,220 344,556 1,007.47 1.10 19,000 408,798 1,195.31 1.30285,435 297,935 302,841 296,878 300,181 296,065 303,340 294,081 282,400 276,720 274,728 269,497 3,480,101 10,175.74 11.09 254,075 4,288,588 12,539.73 13.67

30,826 28,089 25,841 26,731 21,154 25,364 41,885 31,434 30,692 29,929 30,554 30,059 352,557 1,030.87 1.12 37,759 451,961 1,321.52 1.443,660 2,832 2,336 3,352 3,896 4,409 3,795 3,444 3,336 3,264 3,204 3,180 40,707 119.03 0.13 3,030 50,241 146.90 0.165,531 4,884 4,109 2,530 3,632 5,794 5,087 6,227 5,340 4,685 4,731 4,259 56,809 166.11 0.18 6,885 72,851 213.01 0.233,627 3,404 4,423 7,268 4,005 6,515 6,646 6,819 6,289 5,961 5,102 4,850 64,908 189.79 0.21 7,500 82,550 241.37 0.261,403 4,261 3,116 2,525 1,935 2,826 4,624 2,730 2,513 12,210 2,672 1,388 42,203 123.40 0.13 2,295 48,681 142.34 0.166,708 1,216 1,576 3,523 12,678 3,604 5,071 4,985 3,960 3,960 3,960 3,460 54,701 159.94 0.17 2,395 64,676 189.11 0.21

12,525 11,016 10,864 12,483 11,635 13,235 14,944 11,783 11,496 11,269 11,189 10,980 143,419 419.35 0.46 14,969 180,976 529.17 0.584,914 13,395 17,315 1,952 12,928 7,131 16,813 16,130 16,228 16,240 11,437 11,491 145,974 426.82 0.47 10,900 180,229 526.99 0.571,416 1,421 0 599 240 191 285 0 0 0 0 0 4,152 12.14 0.01

35,029 35,004 35,029 35,029 35,629 35,224 35,029 35,095 35,095 35,095 35,095 35,095 421,448 1,232.30 1.34 0 422,682 1,235.91 1.3537,237 37,237 108.88 0.12

105,638 105,522 104,608 95,992 107,732 104,292 134,180 118,647 114,949 122,613 107,944 104,762 1,326,879 3,879.76 4.23179,797 192,412 198,234 200,886 192,449 191,774 169,160 175,434 167,451 154,107 166,784 164,735 2,153,223 6,295.97 6.86 122,970 1,592,084 4,655.22 5.07

131,106 2,696,504 7,884.52 8.59

193,253 193,253 193,253 193,253 193,253 216,819 216,819 216,819 216,819 216,819 216,819 216,819 2,483,999 7,263.16 7.924,719 4,539 4,626 4,787 4,740 4,508 4,200 4,450 4,450 4,450 4,450 4,450 54,368 158.97 0.17 193,254 256,681 750.53 0.829,734 2,903 11,566 6,943 7,872 13,807 23,117 6,600 6,259 6,000 5,000 5,000 104,800 306.43 0.33 0 115,107 336.57 0.37

3,300 3,300 9.65 0.01(27,909) (8,283) (11,211) (4,098) (13,416) (43,360) (74,976) (52,435) (60,077) (73,162) (59,485) (61,534) (489,945) (1,432.59) (1.56)

(65,449) 2,321,416 6,787.76 7.400 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 2,774 0 0 0 0 0 (154) 0 (154)

(50,394) 4,840 4,840 4,840 4,840 4,840 4,840 0 0 0 0 0 (21,352) 0 (21,352)(35,800) (35,800) (35,800) 341,933 (37,985) (38,933) (38,933) (7,125) (7,125) 14,250 (7,125) (7,125) 104,430 0 90,180

(2,951) (2,951)

s (88,090) (28,220) (40,732) 355,044 (35,592) (33,916) (31,319) (7,125) (7,125) 14,250 (7,125) (7,125) 82,925

(2,951) 65,724(22,965) 2,827 942 207 69,651 22,994 45,880 0 0 0 0 0 119,53620,453 31,811 51,607 (345,380) 44,376 16,001 30,188 0 0 0 0 0 (150,942) 0 (150,942)

920 2,385 345 1,665 (1,490) (150) 2,436 0 0 0 0 0 6,111 0 6,11148,905 (6,027) (5,836) (6,064) (6,293) (6,064) (6,064) 0 0 0 0 0 12,556 0 12,556

0 0

. 47,313 30,997 47,058 (349,572) 106,245 32,780 72,440 0 0 0 0 0 (12,739)0 (132,275)

(68,685) (5,507) (4,886) 1,374 57,237 (44,496) (33,854) (59,560) (67,202) (58,912) (66,610) (68,659) (419,759)

15,378 9,871 4,986 6,360 63,597 19,101 (14,753) (74,313) (141,515) (200,427) (267,037) (335,696) 181,601 2,504,864181,601

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


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s by 50%

+ reduction in tax escrow due to overage


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USA Courtney Downs LeaseCo, LLC

Budget ComparisonBooks = Accrual

For the period ending July 31, 2008

MTD MTD YTD YTD Annualt Actual Budget $ Variance MTD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment

301,250.00 301,250.00 0.00 2,071,529.00 2,081,390.00 (9,861.00) 3,587,640.00

e (4,175.00) 4,000.00 (8,175.00) 1,129.00 58,303.00 (57,174.00) 74,283.00

nt 297,075.00 305,250.00 (8,175.00) 2,072,658.00 2,139,693.00 (67,035.00) 3,661,923.00ers Dues 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(16,864.78) (15,591.00) (1,273.78) (105,261.38) (155,541.00) 50,279.62 (253,425.00)

essions 0.00 (3,000.00) 3,000.00 7,576.58 (27,000.00) 34,576.58 (42,000.00)

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

O (1,188.89) (1,618.00) 429.11 (26,280.61) (11,088.00) (15,192.61) (18,910.00)(1,685.00) (1,980.00) 295.00 (12,895.00) (13,860.00) 965.00 (23,760.00)

pt. 0.00 0.00 0.00 0.00 0.00 0.00 0.00nt (1,950.80) (1,935.00) (15.80) (13,936.57) (13,545.00) (391.57) (23,220.00)aintenance Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(910.00) (1,160.00) 250.00 (4,670.00) (8,120.00) 3,450.00 (13,920.00)ssions (8,894.19) (16,316.00) 7,421.81 (60,972.04) (104,154.00) 43,181.96 (205,887.00)

Dues Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00Paid 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 0.00erence 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$265,581.34 $263,650.00 $1,931.34 $1,856,218.98 $1,806,385.00 $49,833.98 $3,080,801.00

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

come 0.00 0.00 0.00 0.00 0.00 0.00 0.00F Fees 2,374.45 1,925.00 449.45 15,613.70 12,397.00 3,216.70 21,791.00

emium 2,206.80 900.00 1,306.80 8,895.87 4,650.00 4,245.87 9,450.00

1,181.51 1,000.00 181.51 8,317.06 5,960.00 2,357.06 11,120.00nce Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2,510.00 2,205.00 305.00 13,310.00 12,005.00 1,305.00 19,796.00

& Damages 2,658.06 0.00 2,658.06 20,950.17 8,100.00 12,850.17 13,500.00

me 1,772.95 800.00 972.95 8,295.63 4,300.00 3,995.63 8,000.00

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

4,372.75 3,360.00 1,012.75 25,800.74 24,360.00 1,440.74 41,160.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00ome 0.00 0.00 0.00 0.00 0.00 0.00 0.00ssments 0.00 0.00 0.00 0.00 0.00 0.00 0.00

6,422.57 6,790.00 (367.43) 48,455.94 47,530.00 925.94 81,480.00

me 0.00 0.00 0.00 0.00 0.00 0.00 0.00ncome 81.23 475.00 (393.77) 9,937.72 3,325.00 6,612.72 5,700.00

Developer 0.00 0.00 0.00 0.00 0.00 0.00 0.00es 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 500.00 (500.00) No forfeits this month. 900.00 2,700.00 (1,800.00) 4,100.00

tions 0.00 0.00 0.00 0.00 0.00 0.00 0.00

her 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

4,200.00 4,200.00 0.00 25,950.00 21,140.00 4,810.00 33,880.005,659.05 2,400.00 3,259.05 32,280.65 18,000.00 14,280.65 30,000.00

Fees 998.00 750.00 248.00 4,342.74 3,625.00 717.74 6,625.00

me 0.00 0.00 0.00 0.00 0.00 0.00 0.003,320.83 0.00 3,320.83 3,405.83 0.00 3,405.83 0.00

xpense 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 0.00ntributions 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

les 0.00 0.00 0.00 0.00 0.00 0.00 0.00

37,758.20 25,305.00 12,453.20 226,456.05 171,581.00 54,875.05 290,091.00

$303,339.54 $288,955.00 $14,384.54 $2,082,675.03 $1,977,966.00 $104,709.03 $3,370,892.00

17,054.11 13,069.00 (3,985.11) We had three payroll in July. 81,279.04 89,203.00 7,923.96 154,548.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00y 16,394.39 11,745.00 (4,649.39) We had three payroll in July. 82,767.42 80,163.00 (2,604.42) 138,888.00

tive 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nus 8,032.50 4,900.00 (3,132.50) 30,290.13 28,635.00 (1,655.13) 46,633.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

270.33 1,720.00 1,449.67 3,912.06 12,040.00 8,127.94 20,640.00

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

133.76 0.00 (133.76) 1,640.79 3,000.00 1,359.21 5,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00

e 41,885.09 31,434.00 (10,451.09) 199,889.44 213,041.00 13,151.56 365,709.00

& Supplies 758.66 850.00 91.34 4,202.25 5,950.00 1,747.75 10,200.00781.26 743.00 (38.26) 6,256.52 5,201.00 (1,055.52) 8,916.00

Pagers 257.00 98.00 (159.00) 942.98 686.00 (256.98) 1,176.00

250.34 211.00 (39.34) 1,370.40 1,477.00 106.60 2,532.000.00 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

scriptions 175.00 114.00 (61.00) 1,673.08 798.00 (875.08) 1,368.00

Variance reflects market rent verseslease rents.

Actual vacancy is 5% and budgetedwas 4%.

No upfront concessions offered at thistime, due to stronger market this

month.

Will adjust market rents on model forAugust to reflect higher rents.

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

We had more insufficient fund checksthan budgeted.

Two month to month fees budgetedand actual collected was six.

44 applications budgeted and actualcollected was 50.

Due to one skip #7111 and one

eviction #19205.This includes 31 utility transfer fees, 16credit card convenience fees, two lockchanges and three propane tank fines.

Eight new pet fees collected and threewere budgeted for.

Fewer rentals this month. Averagerental is $90.

Cable income check was mistakenlybooked to corporate rent. Actual was$3320.83

Apartments left in bad condition at thetime of move out resulting in morecharges and 19 payments made onpast due bills.

We budgeted six short term leases

and actual collected was seven.

Comcast revenue share check wasmistakenly booked here.

We had double commissions paid outon some of our move-ins from ourpromotions in June. Includes newleases and renewals. We had 30move ins this month.

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

June & July ansering service paid outthis month.


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ars 0.00 0.00 0.00 0.00 0.00 0.00 0.00199.82 350.00 150.18 1,971.50 2,400.00 428.50 4,150.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 38.00 38.00 0.00 266.00 266.00 456.000.00 0.00 0.00 16.00 0.00 (16.00) 0.00

835.40 540.00 (295.40) 4,025.95 2,940.00 (1,085.95) 4,848.00

se 537.40 600.00 62.60 3,820.74 3,950.00 129.26 6,450.000.00 0.00 0.00 0.00 0.00 0.00 0.00

ense 3,794.88 3,544.00 (250.88) 24,279.42 23,668.00 (611.42) 40,096.00

otions 3,053.00 3,500.00 447.00 13,407.54 28,500.00 15,092.46 44,000.00

ns 152.30 500.00 347.70 1,271.22 3,200.00 1,928.78 5,400.001,381.71 1,827.00 445.29 15,638.53 10,528.00 (5,110.53) 16,070.00

500.00 500.00 0.00 1,250.00 3,500.00 2,250.00 5,500.00pense 5,087.01 6,327.00 1,239.99 31,567.29 45,728.00 14,160.71 70,970.00

425.39 540.00 114.61 2,262.92 2,421.00 158.08 4,217.00

We processed 16 credit checks onlybudgeted 10.

Savings due to dropping of ApartmentGuide subscription.

Five locator fees budgeted and actualspent was four.


6/58

Svcs. 3,845.00 2,859.00 (986.00) 19,915.00 20,013.00 98.00 34,308.00

Repairs 1,103.00 2,490.00 1,387.00 7,889.00 11,166.00 3,277.00 19,446.00

832.42 270.00 (562.42) 2,636.76 1,890.00 (746.76) 3,240.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.0026.87 85.00 58.13 261.96 595.00 333.04 1,020.00

urfacing 0.00 417.00 417.00 No repairs needed at this time. 1,586.00 2,919.00 1,333.00 5,004.00

g 0.00 0.00 0.00 0.00 0.00 0.00 0.00

413.53 158.00 (255.53) 1,335.57 1,106.00 (229.57) 1,896.00

xpense 6,646.21 6,819.00 172.79 35,887.21 40,110.00 4,222.79 69,131.00

ce & Supplies 1,331.54 900.00 (431.54) 4,632.75 5,528.00 895.25 8,611.00

airs 54.23 350.00 295.77 Fewer repairs needed this month. 578.39 1,550.00 971.61 2,300.00

Repairs 206.96 120.00 (86.96) 1,241.48 840.00 (401.48) 1,440.00pairs 0.00 50.00 50.00 652.35 340.00 (312.35) 540.00airs 0.00 0.00 0.00 0.00 3,000.00 3,000.00 3,000.00

957.57 600.00 (357.57) 2,200.68 2,700.00 499.32 4,200.00

0.00 20.00 20.00 0.00 110.00 110.00 150.000.00 260.00 260.00 None needing repair at this time. 611.03 1,040.00 428.97 1,820.00

Repairs 744.24 300.00 (444.24) 3,879.69 2,100.00 (1,779.69) 3,600.00

110.99 120.00 9.01 569.25 840.00 270.75 1,400.000.00 0.00 0.00 0.00 255.00 255.00 355.00

730.84 0.00 (730.84) 763.16 300.00 (463.16) 600.00

Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00tems 487.50 200.00 (287.50) 5,561.14 2,455.00 (3,106.14) 14,555.00

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

xpense 4,623.87 2,920.00 (1,703.87) 20,689.92 21,058.00 368.08 42,571.00

nds 3,235.32 3,000.00 (235.32) 20,327.81 20,581.00 253.19 29,581.00

829.87 755.00 (74.87) 5,120.37 5,285.00 164.63 9,060.001,006.00 305.00 (701.00) 1,648.75 1,635.00 (13.75) 2,760.00

0.00 925.00 925.00 None needed at this time. 0.00 1,850.00 1,850.00 2,775.00

Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00vc. 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 7,278.72 14,000.00 6,721.28 19,500.00

se 5,071.19 4,985.00 (86.19) 34,375.65 43,351.00 8,975.35 63,676.00

Electric 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Water/Sewer 0.00 0.00 0.00 0.00 0.00 0.00 0.00Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00Grounds 0.00 0.00 0.00 0.00 0.00 0.00 0.00Trash Remov 0.00 0.00 0.00 0.00 0.00 0.00 0.00Cleaning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00Maintenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nsurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00R/E Taxes 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

12,133.58 11,558.00 (575.58) Based on % of collections. 83,238.25 79,119.00 (4,119.25) 134,836.00

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 0.00608.49 200.00 (408.49) 255.45 1,800.00 1,544.55 2,800.00

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 0.000.00 0.00 0.00 952.36 0.00 (952.36) 0.00

nce 0.00 0.00 0.00 0.00 0.00 0.00 0.00e Expenses 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

ng 0.00 0.00 0.00 0.00 0.00 0.00 0.002,202.01 3,060.00 857.99 Yardi 2008-2009 licensing fee. 2,255.61 3,060.00 804.39 3,060.00

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

Overage due to many turns thismonth.We had 30 move ins.Favoarble YTD

Had more carpet replacements thismonth than cleans.

WE made ready over 30 units thismonth.

Reflects supplies needed to clean 30plus units this month plus commonareas. WE also use some supplies inmove in gifts for new residents.

More supplies needed due to manyturns this month. Includes purchase ofsupplies for make ready and workorders. Also replaced two flags.

Extra chlorine needed for the pool thismonth and three filters needed for thepool.

More supplies needed due to manyturns this month. Includes purchase ofdrip pans, mocrowave parts and otherparts for make ready units and work

orders.

New shirts ordered for themaintenance guys this month.

Service call on office connectionsneeding repair.

Overage due to replaced sod in the petkill areas.

Removal of bee hives from building 12and 13.

Two evictions fees budgeted for andactual filed was Four.


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se 14,944.08 14,818.00 (126.08) 86,701.67 83,979.00 (2,722.67) 140,696.00

3,031.00 3,500.00 469.00 22,292.76 23,750.00 1,457.24 40,500.00

esident 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,681.68 1,967.00 285.32 Less usage. 15,783.67 13,769.00 (2,014.67) 23,604.00

17,770.67 20,000.00 2,229.33 122,286.73 140,000.00 17,713.27 240,000.00

esident Reimb (11,088.94) (13,600.00) (2,511.06) (89,961.94) (95,200.00) (5,238.06) (163,200.00)

6,140.50 5,800.00 (340.50) 10,055.07 22,400.00 12,344.93 37,400.00

eimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ent (2,256.15) (2,012.00) 244.15 (15,350.96) (15,636.00) (285.04) (25,696.00)mbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00tric 1,206.08 797.00 (409.08) 6,152.86 7,107.00 954.14 12,108.00

328.48 478.00 149.52 3,189.55 4,837.00 1,647.45 7,837.00ment - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 16,813.32 16,930.00 116.68 74,447.74 101,027.00 26,579.26 172,553.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00MRLL 0.00 0.00 0.00 0.00 0.00 0.00 0.00s 0.00 0.00 0.00 1,896.50 0.00 (1,896.50) 0.00

285.24 0.00 (285.24) Credit card fee charged. 2,255.58 0.00 (2,255.58) 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

Fees 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

Fees 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00xpense 285.24 0.00 (285.24) 4,152.08 0.00 (4,152.08) 0.00

30,188.47 30,188.00 (0.47) 211,319.29 211,316.00 (3.29) 362,256.000.00 0.00 0.00 0.00 0.00 0.00 0.00

4,840.47 4,850.00 9.53 34,053.99 33,950.00 (103.99) 58,200.000.00 57.00 57.00 600.00 399.00 (201.00) 684.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

ance 35,028.94 35,095.00 66.06 245,973.28 245,665.00 (308.28) 421,140.00enses 134,179.83 122,872.00 (11,307.83) 757,963.70 817,627.00 59,663.30 1,386,542.00

COME 169,159.71 166,083.00 3,076.71 1,324,711.33 1,160,339.00 164,372.33 1,984,350.00

t Payment 106,474.53 130,152.00 23,677.47 745,994.55 769,673.67 23,679.12 1,420,433.67

al Payment 23,677.47 0.00 (23,677.47) 47,242.80 23,565.33 (23,677.47) 23,565.3386,666.71 86,667.00 0.29 606,666.97 606,669.00 2.03 1,040,004.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00216,818.71 216,819.00 0.29 1,399,904.32 1,399,908.00 3.68 2,484,003.00

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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

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

Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00nting Fees 0.00 0.00 0.00 540.00 365.00 (175.00) 365.00

0.00 200.00 200.00 No expense at this time. 1,898.47 1,400.00 (498.47) 2,400.00

0.00 0.00 0.00 279.81 0.00 (279.81) 0.00Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00

se 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

Fees 0.00 1,000.00 1,000.00 No expense at this time. 4,000.00 7,000.00 3,000.00 12,000.00

tion Fee 4,200.00 3,250.00 (950.00) Investor reporting fee for the month. 25,400.00 22,750.00 (2,650.00) 39,000.00

easeup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00xpense 4,200.00 4,450.00 250.00 32,118.28 31,515.00 (603.28) 53,765.00

2,543.08 10,125.00 7,581.92 5,395.10 16,846.00 11,450.90 16,846.00

0.00 0.00 0.00 1,021.68 0.00 (1,021.68) 0.00t 0.00 600.00 600.00 No expense at this time. 540.47 1,200.00 659.53 1,800.00

lacement 14,854.93 6,000.00 (8,854.93) 49,196.53 38,000.00 (11,196.53) 66,000.00

471.71 760.00 288.29 1,123.12 1,450.00 326.88 1,450.00

nges 225.00 319.00 94.00 710.32 1,475.00 764.68 1,734.000.00 0.00 0.00 890.25 1,017.00 126.75 1,017.00

ment 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Less usage on common areas and

bldg services.

Reflects current usage, budgetanticipated a higher rate increase andadditional fees implemented fromArapahoe county.

Collected @ 62%. We convertedbilling to collect water at the property.Hoping this will increase. Alsoincludes credits from AUIM for priorpayments, also adjustments to someaccounts for over charging.

Based on current usage. YTD isfavorable.

Occupancy was one percent less thanbudget and move-ins came late in themonth.

Sweeping and restripping of theparking lot.

14 actual carpets replaced (all wereoriginal carpets), six were budgetedfor.

One fridge needed replacement in10205.


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ovements 5,021.89 0.00 (5,021.89)Pool chair slings and backs replaced. 17,063.98 11,899.00 (5,164.98) 11,899.00

t 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

ses 23,116.61 17,804.00 (5,312.61) 75,941.45 71,887.00 (4,054.45) 100,746.00

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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

SS) (74,975.61) (72,990.00) (1,985.61) (183,252.72) (342,971.00) 159,718.28 (654,164.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00(74,975.61) (72,990.00) (1,985.61) (183,252.72) (342,971.00) 159,718.28 (654,164.00)


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Courtney Downs ApartmentsJuly 08

30 INCOME THIS MONTH: $303,340.0032 INCOME LAST MONTH: $300,181.00-2 DIFFERENCE: $3,159.00

TOTAL # GARAGES 120# GARAGES OCCUPIED 110

95.%98.% GARAGES OCCUPIED % 92%

REASONS WHY PROSPECTS DID NOT LEASE:

raffic Leased

1 1 * Job Transfer 00 0 * Too expensive. 50 0 * Future/No Availability/Waiting list 87 2 * Just started looking. 93 2 * Waiting for Home to Sell 616 7 * Current Lease to Expire 08 3 * Needs Ground Floor 03 3 * Breed restrictions 25 4 * Will return with roommate or spouse 68 1 * Realtor Looking for Client 00 0 * Undecided 830 10 * Employment pending 00 0 * Location 4

* Rented at Competitor 081 33 TOTALS 48

35%

S FOR THE MONTH

o Mann Theatres.and price sheets to Marriott extend stay.pricing and specials for the month of July.arker Adventist hospital Human Resources.

our Fitness for employee break room.to Go Motors staff.with options of temporary housing for new home buyers.

s to US bank for the break room.ures to Wells Fargo for break room.yer's to United Artist Theaters staff.el Corporation.s on specials and prices.ERTIES:discounted rents on selected units.

ve rents of $705, two bedrooms at $835 and three bedrooms starting at $1170. to 1 month free off with a 12 to 13 month lease.

nd rental rate of $827 per month.

of July. 13 renewed leases with a $30.46 increase.) out of state, (1) closer to work, (1) closer to school, (2) roommate split

(2) skips, (1) mtm.


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ROUTINE REPLACEMENTS:

Number of: Apt. #

23 REFRIGERATORS 014 DISHWASHERS 1 4308

9 WINDOWS 0185 A/C COMPRESSORS 0

Completed 0 CONDENSING UNITS 018 18 WATER HEATERS 032 32 ICE MAKERS 023 23 GARBAGE DISPOSALS 1 10211,31 31 MICROWAVES 0

61 61 CARPETS/vinyl 140 0 CEILING FANS 08 8 TOILETS 012 12 A/C FAN MOTORS 0

185 185 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 0

0 BLINDS 31TUBS RESURFACED 1 7205TUB TILES 0

GRESS:

NTION:hich we are receiving bids on.

m, getting bids for next years budget.

ncy Howlandrie McMillaneyanna Blacke Hawkinsbriel Tellezssell Brileyge Chavez and Jorge Bernal

ONTH:

erty

NumberReplaced

2307, 6101, 6310, 6105, 7205,7306, 12106, 19104, 19312, 4108,12210, 19205, 2309, 7111,

9207-2, 2211-1, 2307-2, 4206-2,6101-3, 6105-1, 6310-1, 7301-1,7306-1, 9303-2, 12106-2, 12110-2,13308-2,19104-2, 4108-3, 2103-2,19205-2.


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MARKET SURVEYCourtney Downs

July-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 $45.00 $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 $100 $199.00 $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


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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 4 3 8 4 5

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 1 1 2 1 1

24 808 19,392 750 0.93 $18,000 $216,000 750.00 0.93 $18,000 3 3 6 1 5

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 1 0 10 1 10

44 1,030 45,320 900 0.87 $39,600 $475,200 900.00 0.87 $39,600 3 1 13 1 14

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 2 0 2

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 3 3 3 0 3

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 16 12 44 8 40

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


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MARKET SURVEY Courtney Downs

July-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) 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 0.92B1B (B) 870 808 1.08 805 853 0.94 829 701 1.18 750 705 1.02 728 842 0.86 750 796 0.94 725 763 1.05

B1B w/study 770 910 0.85 899 811 0.91 810 760 1.03 815 992 0.82 805 916 0.88B B

B w/loft B1B w/study 899 956 0.94 1005 1051 0.96B2B (E) 895 977 0.92 940 1105 0.85 909 1044 0.87 1015 1120 0.91 889 1115 0.80 900 1033 0.87 840 1037 0.81

B2B (F) 905 1030 0.88 980 1192 0.82 1080 1196 0.90 999 1220 0.82 935 1093 0.86 885 1037 1.23

B2B (G) 935 1030 0.91 1099 1180 0.93B2B (H)B2B

B w/study B2B TH B2B TH

B2B 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 0.88B2B 1255 1398 0.91 1095 1235 1.04 1195 1257 1.10

% occ /leased 95% 98.86% 93% 97% 0 0% 94% 98.10% 95.0% 93% 93.0% 96% 93.2% 97%

Avg PSF 1 0.96 0.90 0.97 0.99 0.85 0.93 1.00

Avg Rents 904 1114 994 808 888 1131 995/ Avail) 342 40 507 28 653 216 18 312 37 360 17 0 168 14

Rateseflect these rates:

pecials:

Ren: $35 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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july courtney downs

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