courtney down april 06

8/14/2019 Courtney Down April 06

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USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = Accrual

For the period ending April 30, 2006

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

0.01

355,720.00 355,390.00 330.00 1,422,880.00 1,421,560.00 1,320.00 4,302,534.00 ###950.00 0.00 950.00 135.00 0.00 135.00 0.00 ###

356,670.00 355,390.00 1,280.00 1,423,015.00 1,421,560.00 1,455.00 4,302,534.00 ###Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(300.00) 0.00 (300.00) Will re code in May. (18.00) 0.00 (18.00) 0.00 (636.00)

(25,520.65) (31,811.00) 6,290.35 (150,203.13) (134,312.00) (15,891.13) (390,390.00) ###

ons (4,141.09) (2,000.00) (2,141.09) (91,991.57) (8,000.00) (83,991.57) (24,000.00) ###

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 0.000.00 (500.00) 500.00 (10,135.02) (2,000.00) (8,135.02) (6,000.00) ###

(1,980.00) (1,980.00) 0.00 (7,920.00) (7,920.00) 0.00 (23,760.00) ###0.00 (575.00) 575.00 (1,725.00) (2,300.00) 575.00 (6,900.00) ###

(1,780.80) (1,900.00) 119.20 (7,123.20) (7,600.00) 476.80 (22,800.00) ###tenance Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 (1,130.00) 1,130.00 0.00 (4,520.00) 4,520.00 (13,560.00) ###ons (83,410.50) (85,068.00) 1,657.50 (243,252.86) (337,898.00) 94,645.14 (1,019,064.00) ###

ues Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00d 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 0.00nce 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$239,536.96 $230,426.00 $9,110.96 $910,646.22 $917,010.00 $(6,363.78) $2,796,060.00 ###0.01

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 68.00 (68.00) 0.00 272.00 (272.00) 816.00 816.00

me 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Fees 1,161.00 2,300.00 (1,139.00) 5,230.65 9,200.00 (3,969.35) 27,600.00 ###

um 100.00 300.00 (200.00) 603.23 1,200.00 (596.77) 3,600.00 ###930.00 1,300.00 (370.00) 4,220.28 5,200.00 (979.72) 15,600.00 ###

Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00960.00 1,000.00 (40.00) 3,695.00 4,000.00 (305.00) 12,000.00 ###

amages 5,555.00 1,033.00 4,522.00 10,972.86 4,132.00 6,840.86 12,396.00 ###

734.45 500.00 234.45 8,238.24 2,000.00 6,238.24 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

2,728.00 900.00 1,828.00 9,270.94 3,600.00 5,670.94 10,800.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ee 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

ments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.006,761.83 8,700.00 (1,938.17) 27,714.69 34,800.00 (7,085.31) 104,400.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

me 1,006.00 1,000.00 6.00 4,024.00 4,000.00 24.00 12,000.00 ###veloper 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 0.000.00 190.00 (190.00) 0.00 760.00 (760.00) 2,280.00 ###

ns 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

3,450.00 2,000.00 1,450.00 13,290.00 8,000.00 5,290.00 24,000.00 ###

2,167.22 929.00 1,238.22 16,698.10 3,716.00 12,982.10 11,148.00 ###

s 34.47 225.00 (190.53) 498.99 900.00 (401.01) 2,700.00 ###e 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 0.00ense 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 0.00butions 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 0.000.00 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

25,587.97 20,445.00 5,142.97 104,456.98 81,780.00 22,676.98 245,340.00 ###0.01

$265,124.93 $250,871.00 $14,253.93 $1,015,103.20 $998,790.00 $16,313.20 $3,041,400.00 ###

0.010.01

8,652.74 9,545.00 892.26 Manager is on maternity leave. 34,865.30 38,180.00 3,314.70 124,082.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0010,871.76 6,660.00 (4,211.76) 40,539.65 26,640.00 (13,899.65) 86,582.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Positive variance while vacancyloss averaged only 7% with abudget of 9%

additional move in incentivesoffered to obtain leases and getoccupancy to reach 93%

Slight positive variance to budgetas we are trying to reduce theseprorated lease concessions overtime with increases on renewals.

strict collections the past twomonths have resulted in fewerresidents paying late.

aggressive collections of

termination fees this month.Collected three full buy outs andpartial payment on one.

collection of 6 pet fees of $300each in addition to the monthlypet rent

Fewer rentals than anticipated.Average rental fee is $85

25 new admin fees charged at$150 or $99. we discontinuedwaiving these to increase incomeresulting in positive variance tobudget

Positive variance to budget withstricter charging of all move outcosts including additionalcleaning, carpet damages andany outstanding water bills.

With high occupancy and strictcollections of other fees, we arebeating Revenue to budget forthe month and Year to date

budgeted incorrectly andremoved one maintenanceperson. This negative varianceis offset in a savings inMaintenance costs.


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s 7,197.20 3,500.00 (3,697.20) 14,735.50 10,500.00 (4,235.50) 42,000.00 ###

2,112.77 1,576.00 (536.77) 7,336.46 6,024.00 (1,312.46) 20,210.00 ###1,330.00 1,442.00 112.00 5,985.00 5,768.00 (217.00) 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 0.001,641.75 0.00 (1,641.75) 4,735.51 0.00 (4,735.51) 0.00 0.00

2,418.23 1,576.00 (842.23) 10,870.85 6,024.00 (4,846.85) 20,210.00 ###34,224.45 24,299.00 (9,925.45) 119,068.27 93,136.00 (25,932.27) 310,388.00 ###

0.01upplies 587.85 600.00 12.15 4,817.99 2,400.00 (2,417.99) 7,200.00 ###

894.41 1,080.00 185.59 4,161.95 4,320.00 158.05 12,960.00 ###ers 92.84 100.00 7.16 473.57 400.00 (73.57) 1,200.00 ###

103.21 200.00 96.79 877.30 800.00 (77.30) 2,400.00 ###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

ptions 0.00 0.00 0.00 142.00 0.00 (142.00) 1,645.00 ###s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 100.00 100.00 365.75 400.00 34.25 2,200.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 200.00 200.00 0.00 800.00 800.00 2,400.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

740.01 750.00 9.99 1,689.11 3,000.00 1,310.89 9,000.00 ###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

se 2,418.32 3,030.00 611.68 12,527.67 12,120.00 (407.67) 39,005.00 ###0.01

ons 4,698.46 3,452.00 (1,246.46) 20,094.79 13,808.00 (6,286.79) 42,409.00 ###

464.31 1,500.00 1,035.69 3,950.15 2,925.00 (1,025.15) 10,300.00 ###3,711.75 1,033.00 (2,678.75) 7,159.25 4,132.00 (3,027.25) 12,396.00 ###

4,000.00 900.00 (3,100.00) 8 resident referrals at $500 each 8,500.00 3,600.00 (4,900.00) 10,800.00 ###

nse 12,874.52 6,885.00 (5,989.52) 39,704.19 24,465.00 (15,239.19) 75,905.00 ###0.01

199.04 3,000.00 2,800.96 2,651.00 10,500.00 7,849.00 33,200.00 ###

s. 1,710.00 3,000.00 1,290.00 6,875.00 10,500.00 3,625.00 32,500.00 ###

pairs 1,065.00 1,200.00 135.00 3,987.00 4,800.00 813.00 15,900.00 ###0.00 200.00 200.00 (2.00) 800.00 802.00 2,400.00 ###0.00 500.00 500.00 0.00 2,000.00 2,000.00 6,000.00 ###0.00 100.00 100.00 26.33 400.00 373.67 1,200.00 ###

acing 0.00 100.00 100.00 185.00 400.00 215.00 1,200.00 ###0.00 100.00 100.00 218.86 400.00 181.14 1,200.00 ###

60.16 300.00 239.84 262.25 1,200.00 937.75 3,600.00 ###

ense 3,034.20 8,500.00 5,465.80 14,203.44 31,000.00 16,796.56 97,200.00 ###

& Supplies 577.36 750.00 172.64 2,124.47 3,000.00 875.53 9,200.00 ###

s 0.00 150.00 150.00 532.98 600.00 67.02 1,800.00 ###airs 0.00 75.00 75.00 573.17 300.00 (273.17) 4,200.00 ###rs 0.00 150.00 150.00 972.75 600.00 (372.75) 1,800.00 ###

0.00 100.00 100.00 0.00 400.00 400.00 1,200.00 ###385.17 400.00 14.83 1,324.67 1,600.00 275.33 5,800.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 50.00 50.00 269.29 200.00 (69.29) 600.00 ###

pairs 0.00 75.00 75.00 793.03 300.00 (493.03) 900.00 ###0.00 150.00 150.00 226.50 600.00 373.50 1,800.00 ###0.00 100.00 100.00 77.40 400.00 322.60 1,200.00 ###

(25.00) 800.00 825.00 155.56 800.00 644.44 2,100.00 ###pairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ms 0.00 295.00 295.00 (284.05) 1,180.00 1,464.05 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

ense 937.53 3,095.00 2,157.47 6,765.77 9,980.00 3,214.23 42,140.00 ###

0.01345.00 2,745.00 2,400.00 345.00 5,490.00 5,145.00 32,205.00 ###

520.71 775.00 254.29 1,900.56 3,850.00 1,949.44 10,050.00 ###75.00 75.00 0.00 300.00 300.00 0.00 900.00 ###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 45.00 45.00 0.00 180.00 180.00 540.00 990.00

148.75 500.00 351.25 (522.13) 4,500.00 5,022.13 8,000.00 ###1,089.46 4,140.00 3,050.54 2,023.43 14,320.00 12,296.57 51,695.00 ###

ctric 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ter/Sewer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ounds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00sh Remova 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00aning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ntenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

urance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00E 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 0.00 0.000.01

10,836.31 10,035.00 (801.31) 41,741.57 39,952.00 (1,789.57) 121,658.00 ###ees 1,000.00 1,000.00 0.00 4,000.00 4,000.00 0.00 12,000.00 ###n Fee 3,250.00 3,250.00 0.00 13,000.00 13,000.00 0.00 39,000.00 ###

10.00 550.00 540.00 6,021.00 2,200.00 (3,821.00) 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 0.00

(52.00) 0.00 52.00 (52.00) 0.00 52.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00xpenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

includes past months bonuses aswell as April.

temporary help for office teamwhile manager is on maternityleave

Did not budget for additonal printadvertisement. We arediscontinuing this ad at the endof the contract in June. Thesecosts will then come in line withbudget

8 loctator referrals this monthwhich helped in achieving ourhigh occupancy

Most work is done in house,offsetting our personnel costswhich are over budget

Most work is done in house,offsetting our personnel costswhich are over budget

most work done in houseoffsetting overage in personnelcosts

All turn and general maintenancecosts are below budget as wehave done work in house and didnot need additonal expenses

irrigation costs only. Monthlyservice fee will hit next month


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0.00 0.00 0.00 825.49 0.00 (825.49) 1,000.00 ###47.71 50.00 2.29 159.94 200.00 40.06 2,600.00 ###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 0.00

0.00 0.00 0.00 63.95 0.00 (63.95) 1,400.00 ###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

15,092.02 14,885.00 (207.02) 65,759.95 59,352.00 (6,407.95) 184,258.00 ###0.01

3,116.77 2,800.00 (316.77) 13,405.33 11,200.00 (2,205.33) 33,600.00 ###dent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,713.24 2,700.00 986.76 16,137.94 14,700.00 (1,437.94) 35,120.00 ###

8,292.98 9,500.00 1,207.02 34,762.78 33,000.00 (1,762.78) 106,000.00 ###

dent Reimb (3,745.62) (4,500.00) (754.38) (14,194.58) (16,500.00) (2,305.42) (50,500.00) ###106.09 3,100.00 2,993.91 (7,440.11) 3,100.00 10,540.11 40,840.00 ###

bursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(1,864.61) (2,200.00) (335.39) (7,460.58) (8,800.00) (1,339.42) (26,400.00) ###

ursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00608.99 1,700.00 1,091.01 4,443.16 6,800.00 2,356.84 20,400.00 ###889.71 1,100.00 210.29 3,513.30 4,400.00 886.70 9,820.00 ###

nt - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.009,117.55 14,200.00 5,082.45 43,167.24 47,900.00 4,732.76 168,880.00 ###

0.010.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

RLL 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 26.00 0.00 (26.00) 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

es 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

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 0.000.00 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

ense 0.00 0.00 0.00 26.00 0.00 (26.00) 0.00 0.000.01

27,200.00 27,200.00 0.00 114,652.33 108,800.00 (5,852.33) 326,400.00 ###0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

6,762.00 6,691.00 (71.00) 26,761.74 26,764.00 2.26 80,292.00 ###0.00 0.00 0.00 500.00 0.00 (500.00) 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

e 33,962.00 33,891.00 (71.00) 141,914.07 135,564.00 (6,350.07) 406,692.00 ###ses 112,750.05 112,925.00 174.95 445,160.03 427,837.00 (17,323.03) 1,376,163.00 ###ME 152,374.88 137,946.00 14,428.88 569,943.17 570,953.00 (1,009.83) 1,665,237.00 ###

0.01106,586.67 106,587.00 0.33 426,346.68 426,348.00 1.32 1,279,044.00 ###86,666.67 86,667.00 0.33 346,666.68 346,668.00 1.32 1,040,004.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00193,253.34 193,254.00 0.66 773,013.36 773,016.00 2.64 2,319,048.00 ###

0.010.00 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 0.000.01

s 0.00 0.00 0.00 1,510.50 0.00 (1,510.50) 0.00 0.00g Fees 595.00 0.00 (595.00) tax prepartation fees 595.00 0.00 (595.00) 0.00 0.00

0.00 0.00 0.00 305.62 0.00 (305.62) 0.00 0.00

0.00 0.00 0.00 59.04 0.00 (59.04) 0.00 0.00her 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

eup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nse 595.00 0.00 (595.00) 2,470.16 0.00 (2,470.16) 0.00 0.000.01

0.00 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 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ement 6,054.83 6,600.00 545.17 17,347.52 17,600.00 252.48 63,800.00 ###

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00s 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 0.00nt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ments 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

6,054.83 6,600.00 545.17 17,347.52 20,600.00 3,252.48 66,800.00 ###0.01

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) (47,528.29) (61,908.00) 14,379.71 (222,887.87) (222,663.00) (224.87) (720,611.00) ###

42,301.60 0.00 42,301.60 224,944.65 0.00 224,944.65 0.00 ###(5,226.69) (61,908.00) 56,681.31 2,056.78 (222,663.00) 224,719.78 (720,611.00)

positive variance is a function ofoccupancy being better thanbudget

positive variance is a function ofoccupancy being better thanbudget

water costs were not broken outand included in water sewer,

above. Combined variance ispositve to budget again due tohigher occupancy and moreapartments paying for water

replacement of 7 carpets thismonth. In line with budget for theyear


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

Books = AccrualFor the 12 Months Ending Dec 2006

Jan 2006 Feb 2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 12 Month $ / $ /

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

342 313,778

356,941 356,261 353,425 356,370 356,985 356,985 356,985 356,985 360,554 364,160 364,160 364,160 4,303,971 12,584.71 13.72(50,457) (41,504) (32,721) (25,521) (25,000) (28,559) (21,419) (28,559) (32,450) (36,416) (40,058) (40,058) (402,722) (1,177.55) (1.28)(80,765) (83,296) (83,632) (87,552) (83,000) (80,000) (80,000) (80,000) (80,000) (80,000) (75,000) (75,000) (968,244) (2,831.12) (3.09)(5,393) (4,621) (13,129) (3,761) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (75,583) (221.00) (0.24)

220,326 226,840 223,943 239,537 242,900 242,341 249,481 242,341 242,019 241,659 243,017 243,017 2,857,421 8,355.03 9.11

26,619 19,852 32,398 25,588 20,445 20,445 20,445 20,445 20,445 20,445 20,445 20,445 268,017 783.68 0.85246,945 246,692 256,342 265,125 263,345 262,786 269,926 262,786 262,464 262,104 263,462 263,462 3,125,438 9,138.71 9.96

31,314 27,779 25,751 34,224 24,299 37,759 24,299 20,239 24,299 24,299 24,299 37,759 336,320 983.39 1.074,125 1,829 4,155 2,418 4,030 3,030 3,375 4,330 3,030 3,030 3,030 3,030 39,413 115.24 0.13

10,172 7,867 8,790 12,875 6,845 5,860 7,885 5,860 5,860 6,385 5,860 6,885 91,144 266.50 0.292,824 1,468 6,877 3,034 8,800 8,800 8,800 8,700 8,200 7,900 7,500 7,500 80,403 235.10 0.26

484 2,348 2,996 938 2,345 2,345 4,645 2,345 2,295 13,595 2,295 2,295 38,926 113.82 0.122,095 (1,911) 750 1,089 8,140 3,640 3,640 3,640 6,640 4,640 4,640 2,395 39,398 115.20 0.13

15,018 14,773 20,876 15,092 15,549 15,049 16,670 17,049 15,067 15,084 15,469 14,969 190,666 557.50 0.6117,811 10,978 5,261 9,118 17,050 16,295 16,295 16,295 16,655 16,590 10,900 10,900 164,147 479.96 0.521,732 605 (2,311) 0 0 0 0 0 0 0 0 0 26 0.08 0.00

34,178 39,883 33,892 33,962 33,891 33,891 33,891 33,891 33,891 37,237 37,237 37,237 423,079 1,237.07 1.35

119,755 105,619 107,036 112,750 120,949 126,669 119,500 112,349 115,937 128,760 111,230 122,970 1,403,523 4,103.87 4.47127,190 141,073 149,305 152,375 142,396 136,117 150,426 150,437 146,527 133,345 152,233 140,493 1,721,916 5,034.84 5.49

193,253 193,253 193,253 193,253 193,254 193,254 193,254 193,254 193,254 193,254 193,254 193,254 2,319,045 6,780.83 7.39

1,511 40 324 595 0 0 0 0 0 0 0 0 2,470 7.22 0.013,871 (782) 8,204 6,055 6,600 6,600 6,600 6,600 6,600 6,600 3,300 3,300 63,548 185.81 0.20

(71,445) (51,438) (52,476) (47,528) (57,458) (63,737) (49,428) (49,417) (53,327) (66,510) (44,322) (56,062) (663,147) (1,939.03) (2.11)

66,280 58,055 58,308 42,302 0 0 0 45,074 52,214 52,536 52,896 47,280 474,945

792 (2,230) (4,698) 2,407 0 0 0 0 0 0 0 0 (3,729)9,672 (940) (590) 4,549 0 0 0 0 0 0 0 0 12,691

372 (275) 86 156 0 0 0 0 0 (30,110) 0 0 (29,770)(34,325) (34,325) (34,325) (34,325) (7,125) (2,951) (2,951) (2,951) 23,449 (2,951) (2,951) (2,951) (138,683)

(23,489) (37,770) (39,527) (27,213) (7,125) (2,951) (2,951) (2,951) 23,449 (33,061) (2,951) (2,951) (159,491)

(5,209) 4,548 22,679 5,948 0 0 0 0 0 0 0 0 27,96534,702 17,279 26,292 32,763 0 0 0 0 0 0 0 0 111,0341,398 6,448 1,789 (2,315) 0 0 0 0 0 0 0 0 7,320

0 (763) (382) (382) 0 0 0 0 0 0 0 0 (1,527)

30,890 27,511 50,377 36,014 0 0 0 0 0 0 0 0 144,793

2,236 (3,642) 16,682 3,574 (64,583) (66,688) (52,379) (7,294) 22,336 (47,034) 5,624 (11,733) (202,901)

29,014 25,372 42,054 45,628 (18,955) (85,643) (138,022) (145,316) (122,980) (170,014) (164,390) (176,123)

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

tra 280 286,056

vlg 120 108,276

wa 284 254,103

we 12 48,309

wi 346 433,196

us 280 299,111us 284 254,103

b 2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006

NET CASH FLOW CUMM. NET CASH FLOW


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50%

50%

50%

duction in tax escrow due to overage







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Courtney Downs ApartmentsApril-06

Y

16 INCOME THIS MONTH: $265,124.93

S: 16 INCOME LAST MONTH: $255,335.50

TH: 0 DIFFERENCE: $9,789.43

TOTAL # GARAGES 120

# GARAGES OCCUPIED 11692.4% 95.3% GARAGES OCCUPIED %; 97%

REASONS WHY PROSPECTS DID NOT LEASE:

Traffic Leased

2 1 * Job Transfer 109 4 * Restricted Pet Breed 00 0 * Future/No Availability/Waiting list 0

19 5 * Just started looking. 80 0 * Waiting for Home to Sell 175 1 * Current Lease to Expire 0

14 4 * Needs Ground Floor 0RAL 6 4 * Moved Elsewhere 0

11 2 * Will return with roommate or spous 130 0 * Realtor Looking for Client 00 0 * Undecided 0

6 3 * Employment pending 7 7 0 * House sale pending 0

* Rented at Competitor 0

79 24 TOTALS 55

33%

& SOURCES FOR THE MONTH

om Blue Book will be going out in the next few weeks to Coyote Ranch.with new move in specials and price sheets took cookies to them for repeat business.

new local churches on Sundays to singles group with price sheets and new color flyers.dds with current pricing and specials.

rogram with current residents who work for large employers, to take flyers to breakrooms, etc.fees and promote Resident Referral Program

ABLE PROPERTIES:e offering rents averaging one to three months off on a month lease.s from $525 to $1095 and three bedrooms from $950 to $1275.

ed an increase of $27.00. We have continued to discuss all options withto a minimum.

w due to buying houses, 3-resident got new job, 1 got married.

PERTY:rtment due to faulty sprinkler system


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ROUTINE REPLACEMENTS:

Number of:

NITS 15 REFRIGERATORS 07 DISHWASHERS 08 STOVES 0

195 A/C COMPRESSORS 0

Pending Completed 0 CONDENSING UNITS 00 32 15 WATER HEATERS 00 18 45 ICE MAKERS 0

0 16 15 GARBAGE DISPOSALS 00 10 11 MICROWAVES 00 93 89 CARPETS 70 0 8 CEILING FANS 00 23 12 TOILETS 00 0 0 A/C FAN MOTORS 0

0 192 195 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 00 BLINDS 11

TUBS RESURFACED 0TUB TILES 0

TS IN PROGRESS:

DING ATTENTION:inkler systems- a few broken main lines and 60 broken sprinkler heads-one broken line price will be deducted from the final

replaced.

Nancy HowlandBeth McCallWendy GillanTemporary personal.

sor Gabriel Tellezce Russell Brileyds Jorge Chavez and Jorge Bernal

OR THE MONTH:rted and spring flowers will be planted in the next week.

NumberReplaced


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Apt. #

10311, 9205, 12205, 7311, 7103, 10106, 9307

4-1, 13205-1, 12110-2, 10311-2, 3201-1, 19302-

Coloradoscapes bill


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S SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL

S/F PER UNIT PER S/F GROSS GROSS

40 704 28,160 830 1.18 $33,200 $398,400

32 704 22,528 860 1.22 $27,520 $330,240

18 910 16,380 935 1.03 $16,830 $201,960

24 808 19,392 895 1.11 $21,480 $257,760

32 808 25,856 925 1.14 $29,600 $355,200

42 977 41,034 1130 1.16 $47,460 $569,520

44 1,030 45,320 1150 1.12 $50,600 $607,200

22 1,030 22,660 1180 1.15 $25,960 $311,520

24 977 23,448 1150 1.18 $27,600 $331,200

16 1,030 16,480 1150 1.12 $18,400 $220,800

20 1,030 20,600 1180 1.15 $23,600 $283,200

24 1,140 27,360 1245 1.09 $29,880 $358,560

4 1,140 4,560 1255 1.10 $5,020 $60,240

0

42 917 313,778 $1,044 $1.14 $357,150 $4,285,800


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ON Vacants Notice

T GROSS

5.00 1.03 $29,000 1 1 3 3 0

5.00 1.10 $31,000 1 0 1 0 2

0.00 0.91 $14,850 4 2 4 1 5

0.00 0.88 $17,160 7 2 7 0 12

0.00 0.96 $24,800 0 0 0 0 0

5.00 0.79 $32,550 7 2 6 0 13

0.00 0.78 $35,200 5 0 2 0 7

0.00 0.78 $17,600 0 0 0 0 0

0.00 0.82 $19,200 0 0 0 0 0

0.00 0.83 $13,600 0 0 0 0 5

0.00 0.83 $17,000 0 0 0 0 0

0.00 0.91 $24,840 3 2 2 0 3

0.00 0.91 $4,140 0 0 0 0 0

0.90 $280,940 28 9 25 4 47

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


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MARKET SURVEYCourtney Downs

April-06

Brookside Village Carriage Place Coyote Ranch Windsor @ Meridian Pinnacle @ the Creek eenbriar @ Saddle Ro Dove Valley Cherrywood Village Reserve @ South Creek

5400 S Park Terrace 4900 S Ulster 16363 E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 22159 E Ontario Dr 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr

303-220-7086 303-740-7011 303-693-8787 303-256-7700 303-766-2500 303-617-6600 303-362-2000 303-805-7220 303-680-6696

Greenwood Village, Co Denver, Co 80237 Aurora, Co Englewood, Co 80112 Centennial, Co Aurora, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112

304 331 507 653 216 250 312 380 168

7 7 3 6 3 3 4 3 4

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

yes yes yes yes yes yes yes yes yes

yes. yes yes yes yes yes yes yes yes

225-375 350-500 400-500 150-300 200-300 400 300-500 400 300-600

300-400 275 275-325 300 100 250-400 199 99 225-375

yes yes yes Only In Select Units Only Select Units no no no no

no no yes yes yes yes yes yes yes



no yes no no no no yes yes yes

1 2 1 1 1 1 1 2 1


yes 2 1 1 1 1 1 2 1





no yes yes yes yes yes yes yes yes

yes yes no yes yes yes yes yes yes

no yes yes yes no no yes yes yes

no yes no yes yes no yes no yes

yes no no no no no no no no

no no no no no no no no no

yes yes yes yes yes no yes yes yes


no no no no no no no no no

yes yes no yes yes yes yes yes yes


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MARKET SURVEY Courtney Downs

April-06

(Concessions reduced rates)

PROPERTY: Courtney Downs Apt Brookside Village Carriage Place Coyte Ranch Windsor at Meridian Pinnacle @ the Creek Greenbriar@Saddle Rock 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 PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF

fficiency fficiencyB1B (A) 725 704 1.03 850 812 1.05 1030 776 1.33 855 779 1.10 640 627 1.02 620 685 0.91 785 707 1.11 795 768 1.04 850 707 1.20 795 763 1.04B1B (B) 750 808 0.93 975 815 1.20 1065 785 1.36 955 853 1.12 645 701 0.92 660 705 0.94 880 853 1.03 825 842 0.98 #DIV/0!

B1B w/study 825 910 0.91 740 811 0.91 730 760 0.96 #DIV/0! #DIV/0! #DIV/0! #DIV/0!B #DIV/0! #DIV/0! #DIV/0!B

B w/loft B1B w/study 835 956 0.87 910 1051 0.87B2B (E) 775 977 0.79 1140 1130 1.01 1265 1141 1.11 1160 1105 1.05 1110 1044 1.06 930 1120 0.83 1075 1033 1.04 1040 1115 0.93 1110 1033 1.07 995 1037 0.96

B2B (F) 800 1030 0.78 1155 1144 1.01 1460 1237 1.18 1250 1192 1.05 1440 1196 1.20 1195 1093 1.09 1090 12220 0.09 1190 1093 1.09B2B (G) 850 1030 0.83 1030 1180 0.87

B2B (H) B2B

B w/study B2B TH B2B TH

B2B 1,035 1140 0.91 1600 1485 1.08 1265 1141 1.11 1350 1398 0.97 1510 1330 1.13 995 1230 0.87 1425 1235 1.15 1270 1356 0.94 1375 1235 1.11 1195 1257 0.95B2B 1645 1414 1.16

% occ /leased 92 95 95% 95.00 97 96% 97 98.00% 98% 93 91.3 96% 0 0% 93 91 94% 90 92 93% 97.0 96 93% 89.0 90 93% 92.0 95 96%

Avg PSF 1 0.88 1.06 1.19 1.05 1.01 0.87 1.09 0.95 1.11 0.98Avg Rents 823 1144.00 1288.33 1114.00 993.75 807.50 1072.00 1004.00 1131.25 995.00

/ Avail) 342 9 304 11 331 5 507 20 653 216 8 292 22 312 8 360 41 0 168 5

ates Special: 1-4 months off selecteSpecial: $100 off 11-12 mo Special: $150 off market onSpecial: $300 to $400 off mSepcial:None Special: waive deposits and Special: $150 to $200 off per mo onSpecial:3 months free over 12 Special: 3 Months off of market Special: waive application or waive deposits.eflect these rates $685 1/1 $805 2/2 $1310 3 $150 giftcertificate to $626 1/1 $800 2/2 $1275 3/2pecials: special were pulled off the internet southwest airlines w/ look and lease

due to property will not give info.Look and lease $250 off 1st full month

Ren: $25 to $50 increase Ren: $15-$25 Increase. Ren.: 20% off of market. Ren.: Increase $0 to $50. Ren: Info not avail per corpRen:Per corporate Ren: $50 increases on 12 mo renewRen: $40 increas for 12 monthRen: Average $15 to $20 increaRen: Free carpet cleaning with 12mo.

nits(Tot


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courtney down april 06

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