courtney downs march 06

8/14/2019 Courtney Downs March 06

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USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = AccrualFor the period ending March 31, 2006

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

355,720.00 355,390.00 330.00 1,067,160.00 1,066,170.00 990.00 4,302,534.00(2,095.00) 0.00 (2,095.00) (815.00) 0.00 (815.00) 0.00

353,625.00 355,390.00 (1,765.00) 1,066,345.00 1,066,170.00 175.00 4,302,534.00s 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(200.00) 0.00 (200.00) 282.00 0.00 282.00 0.00(32,720.99) (31,811.00) (909.99) (124,682.48) (102,501.00) (22,181.48) (390,390.00)

(3,118.20) (2,000.00) (1,118.20) (87,850.48) (6,000.00) (81,850.48) (24,000.00)

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

(8,793.07) (500.00) (8,293.07) (10,135.02) (1,500.00) (8,635.02) (6,000.00)

(1,980.00) (1,980.00) 0.00 (5,940.00) (5,940.00) 0.00 (23,760.00)(575.00) (575.00) 0.00 (1,725.00) (1,725.00) 0.00 (6,900.00)

(1,780.80) (1,900.00) 119.20 (5,342.40) (5,700.00) 357.60 (22,800.00)an 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 (1,130.00) 1,130.00 0.00 (3,390.00) 3,390.00 (13,560.00)

(80,513.65) (85,068.00) 4,554.35 (159,842.36) (252,830.00) 92,987.64 (1,019,064.00)

n 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

$223,943.29 $230,426.00 $(6,482.71) Explained above. $671,109.26 $686,584.00 $(15,474.74) $2,796,060.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 68.00 (68.00) 0.00 204.00 (204.00) 816.00

0.00 0.00 0.00 0.00 0.00 0.00 0.001,637.65 2,300.00 (662.35) 4,069.65 6,900.00 (2,830.35) 27,600.00

103.23 300.00 (196.77) 503.23 900.00 (396.77) 3,600.001,086.38 1,300.00 (213.62) 3,290.28 3,900.00 (609.72) 15,600.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.001,385.00 1,000.00 385.00 2,735.00 3,000.00 (265.00) 12,000.00

g 4,915.00 1,033.00 3,882.00 5,417.86 3,099.00 2,318.86 12,396.00

651.34 500.00 151.34 7,503.79 1,500.00 6,003.79 6,000.00 Bad debt collections.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 0.004,027.44 900.00 3,127.44 6,542.94 2,700.00 3,842.94 10,800.00

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 0.00

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 0.006,853.64 8,700.00 (1,846.36) 20,952.86 26,100.00 (5,147.14) 104,400.00

0.00 0.00 0.00 0.00 0.00 0.00 0.001,006.00 1,000.00 6.00 3,018.00 3,000.00 18.00 12,000.00

op 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 0.000.00 190.00 (190.00) 0.00 570.00 (570.00) 2,280.000.00 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

4,650.00 2,000.00 2,650.00 9,840.00 6,000.00 3,840.00 24,000.00 Increased price of admin fee.

6,068.01 929.00 5,139.01 14,530.88 2,787.00 11,743.88 11,148.00

14.52 225.00 (210.48) 464.52 675.00 (210.48) 2,700.000.00 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

ion 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 0.00

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 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.0032,398.21 20,445.00 11,953.21 Explained above. 78,869.01 61,335.00 17,534.01 245,340.00

$256,341.50 $250,871.00 $5,470.50 Explained above. $749,978.27 $747,919.00 $2,059.27 $3,041,400.00

8,620.19 9,545.00 924.81 26,212.56 28,635.00 2,422.44 124,082.00

Variance due to lowering renewalincreases during the winter months to help maintainoccupancy.

Occupancy averaged 91%, inline with budet. We closed outthe month at 92%.

Holiday give away of "Ipod" andLook and Lease special.

Due to high number of move-outs with excessive chargespartially offset in miscellaneousincome.

Guest Suite budgeted and never set up due to lack of demand.

Guest Suite budgeted and never set up due to lack of demand.

Positive variance achievedthrough reduction of concessionsin renewals.

Decrease in overall late fees dueto increase in evictions of residents who paid latechronically.

Decrease in overall late fees dueto increase in evictions of residents who paid latechronically.

Increased number of residentsbreaking leases due to homepurchases.

Increased number of residentsbreaking leases due to homepurchases.

Aggressive collection of pet feesas a result of property petinspection in January.

Decrease in garage rentals dureto higher number of move-outsthan projected.

Decrease in overall occupancy of garages.

Increased price of admin fee.Currently chargins $150 per lease

Aggressive collection of move-out damages.

Due to not having a leasingposition filled, we hired tempservice beginning in March 2006,see contract labor.


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0.00 0.00 0.00 0.00 0.00 0.00 0.0010,546.22 6,660.00 (3,886.22) 29,667.89 19,980.00 (9,687.89) 86,582.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,778.60) 3,500.00 5,278.60 7,538.30 7,000.00 (538.30) 42,000.00

1,372.30 1,576.00 203.70 5,223.69 4,448.00 (775.69) 20,210.001,463.00 1,442.00 (21.00) 4,655.00 4,326.00 (329.00) 17,304.00

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

3,093.76 0.00 (3,093.76) 3,093.76 0.00 (3,093.76) 0.00

2,433.78 1,576.00 (857.78) 8,452.62 4,448.00 (4,004.62) 20,210.0025,750.65 24,299.00 (1,451.65) E xplained above. 84,843.82 68,837.00 (16,006.82) 310,388.00

ie 2,170.79 600.00 (1,570.79) Staisfacts survey costs 4,230.14 1,800.00 (2,430.14) 7,200.00

824.07 1,080.00 255.93 3,267.54 3,240.00 (27.54) 12,960.00212.76 100.00 (112.76) 380.73 300.00 (80.73) 1,200.00190.05 200.00 9.95 774.09 600.00 (174.09) 2,400.00

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

on 0.00 0.00 0 .00 142.00 0.00 (142.00) 1,645.000.00 0.00 0.00 0.00 0.00 0.00 0.00

275.75 100.00 (175.75) 365.75 300.00 (65.75) 2,200.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 200.00 200.00 0.00 600.00 600.00 2,400.000.00 0.00 0.00 0.00 0.00 0.00 0.00

481.59 750.00 268.41 949.10 2,250.00 1,300.90 9,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.004,155.01 3,030.00 (1,125.01) Explained above. 10,109.35 9,090.00 (1,019.35) 39,005.00 Explained above.

4,805.92 3,452.00 (1,353.92) 15,396.33 10,356.00 (5,040.33) 42,409.00

766.16 475.00 (291.16) 3,485.84 1,425.00 (2,060.84) 10,300.002,218.25 1,033.00 (1,185.25) 3,447.50 3,099.00 (348.50) 12,396.00

1,000.00 900.00 (100.00) 2 referrals at $500 each 4,500.00 2,700.00 (1,800.00) 10,800.008,790.33 5,860.00 (2,930.33) Explained above. 26,829.67 17,580.00 (9,249.67) 75,905.00 Explained above.

2,296.89 2,500.00 203.11 2,451.96 7,500.00 5,048.04 33,200.00

2,385.00 2,500.00 115.00 5,165.00 7,500.00 2,335.00 32,500.00

s 1,819.00 1,200.00 (619.00) 2,922.00 3,600.00 678.00 15,900.00

0.00 200.00 200.00 (2.00) 600.00 602.00 2,400.000.00 500.00 500.00 0.00 1,500.00 1,500.00 6,000.00

26.33 100.00 73.67 26.33 300.00 273.67 1,200.00g 0.00 100.00 100.00 185.00 300.00 115.00 1,200.00

218.86 100.00 (118.86) 218.86 300.00 81.14 1,200.00130.65 300.00 169.35 202.09 900.00 697.91 3,600.006,876.73 7,500.00 623.27 11,169.24 22,500.00 11,330.76 97,200.00 Explained above.

up 1,034.34 750.00 (284.34) 1,547.11 2,250.00 702.89 9,200.00

176.64 150.00 (26.64) 532.98 450.00 (82.98) 1,800.00

171.23 75.00 (96.23) 573.17 225.00 (348.17) 4,200.00157.97 150.00 (7.97) 972.75 450.00 (522.75) 1,800.000.00 100.00 1 00.00 0.00 300.00 300.00 1,200.00

450.76 400.00 (50.76) 939.50 1,200.00 260.50 5,800.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 50.00 50.00 269.29 150.00 (119.29) 600.00

412.25 75.00 (337.25) 793.03 225.00 (568.03) 900.00179.04 150.00 (29.04) 226.50 450.00 223.50 1,800.00

8.96 100.00 91.04 77.40 300.00 222.60 1,200.000.00 0.00 0.00 180.56 0.00 (180.56) 2,100.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.00404.55 295.00 (109.55) (284.05) 885.00 1,169.05 11,540.00

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

2,995.74 2,295.00 (700.74) 5,828.24 6,885.00 1,056.76 42,140.00

0.00 2,745.00 2,745.00 0.00 2,745.00 2,745.00 32,205.00

345.70 775.00 429.30 1,379.85 3,075.00 1,695.15 10,050.0075.00 75.00 0.00 225.00 225.00 0.00 900.000.00 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 45.00 45.00 0.00 135.00 135.00 540.00

329.12 1,000.00 670.88 ice melt (670.88) 4,000.00 4,670.88 8,000.00749.82 4,640.00 3,890.18 Explained above. 933.97 10,180.00 9,246.03 51,695.00 Explained above.

c 0.00 0.00 0.00 0.00 0.00 0.00 0.00Se 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 0.00s 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Re 0.00 0.00 0.00 0.00 0.00 0.00 0.00ng 0.00 0.00 0.00 0.00 0.00 0.00 0.00na 0.00 0.00 0.00 0.00 0.00 0.00 0.00c 0.00 0.00 0.00 0.00 0.00 0.00 0.00xe 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

Due to having a groundskeeper that is not budgeted for, this isoffset in make ready.

Due to having a groundskeeper that is not budgeted for, this isoffset in make ready.

Due to timing of payroll payout.Costs are in line with budgetYTD

Hired a leasing temp service tofill position of terminated leasingconsultant. Partially off-set insalaries.

Hired a leasing temp service tofill position of terminated leasingconsultant in March and April.

US Advisors charged property for a telephone survey in April 2006.

For Rent Magazine was notbudgeted for and we wereunable to be released fromcontract set by previousmanager.

For Rent Magazine was notbudgeted for and we wereunable to be released fromcontract set by previousmanager.

secured 6 locators leases thismonth. Budgeted for 3

Due to having an in houseemployee duing this work.

Due to having an in houseemployee duing this work.

9 carpet cleans and a reclassfrom previous month

Includes purchase of newweights for work out room

monthly monitoring costs. Weare evaluating a new supplier which will save us money

service does not begin unitl April,budget reflects March start date.Will be in line YTD

Under due to timing of annualsinstallation.


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10,615.44 10,035.00 (580.44) 30,905.26 29,917.00 (988.26) 121,658.001,000.00 1,000.00 0.00 3,000.00 3,000.00 0.00 12,000.00

ee 3,250.00 3,250.00 0.00 9,750.00 9,750.00 0.00 39,000.006,011.00 550.00 (5,461.00) 6,011.00 1,650.00 (4,361.00) 6,600.00

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 0.00en 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 825.49 0.00 (825.49) 1,000.000.00 50.00 50.00 112.23 150.00 37.77 2,600.000.00 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 63.95 0.00 (63.95) 1,400.000.00 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

20,876.44 14,885.00 (5,991.44) Explained above. 50,667.93 44,467.00 (6,200.93) 184,258.00 Explained above.

2,807.92 2,800.00 (7.92) 10,288.56 8,400.00 (1,888.56) 33,600.000.00 0.00 0.00 0.00 0 .00 0.00 0.003,453.46 4,000.00 546.54 14,424.70 12,000.00 (2,424.70) 35,120.00 Based on actual usage.8,397.92 8,500.00 102.08 26,469.80 23,500.00 (2,969.80) 106,000.00 Based on actual usage.

R (5,330.41) (4,000.00) 1,330.41 Based on actual usage. (10,448.96) (12,000.00) (1,551.04) (50,500.00)(3,413.42) 0.00 3,413.42 (7,546.20) 0.00 7,546.20 40,840.00

se 0.00 0.00 0.00 0.00 0.00 0.00 0.00(1,792.78) (2,200.00) (407.22) (5,595.97) (6,600.00) (1,004.03) (26,400.00)

0.00 0.00 0.00 0.00 0 .00 0.00 0.00847.88 1,700.00 852.12 3,834.17 5,100.00 1,265.83 20,400.00290.50 1,100.00 809.50 2,623.59 3,300.00 676.41 9,820.00

G 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5,261.07 11,900.00 6,638.93 Explained above. 34,049.69 33,700.00 (349.69) 168,880.00

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

(2,311.00) 0.00 2,311.00 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) 0.000.00 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

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 0.00

(2,311.00) 0.00 2,311.00 Explained above. 26.00 0.00 (26.00) 0.00

27,200.00 27,200.00 0.00 87,452.33 81,600.00 (5,852.33) 326,400.00 Due to increased taxes.0.00 0.00 0.00 0.00 0.00 0.00 0.00

6,691.59 6,691.00 (0.59) 19,999.74 20,073.00 73.26 80,292.000.00 0.00 0.00 500.00 0.00 (500.00) 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.0033,891.59 33,891.00 (0.59) 107,952.07 101,673.00 (6,279.07) 406,692.00 Explained above.

107,036.38 108,300.00 1,263.62 Explained above. 332,409.98 314,912.00 (17,497.98) 1,376,163.00 Explained above.149,305.12 142,571.00 6,734.12 Explained above. 417,568.29 433,007.00 (15,438.71) 1,665,237.00 Explained above.

106,586.67 106,587.00 0.33 319,760.01 319,761.00 0.99 1,279,044.0086,666.67 86,667.00 0.33 260,000.01 260,001.00 0.99 1,040,004.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00193,253.34 193,254.00 0.66 579,760.02 579,762.00 1.98 2,319,048.00

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 0.000.00 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 1,510.50 0.00 (1,510.50) 0.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00

265.21 0.00 (265.21) 305.62 0.00 (305.62) 0.0059.04 0.00 (59.04) 59.04 0.00 (59.04) 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 0.00324.25 0.00 (324.25) 1,875.16 0.00 (1,875.16) 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 No need for work.0.00 0.00 0.00 0.00 0.00 0.00 0.00

en 8,203.73 4,400.00 (3,803.73) 11,292.69 11,000.00 (292.69) 63,800.00

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 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00nts 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

8,203.73 4,400.00 (3,803.73) Explained above. 11,292.69 14,000.00 2,707.31 66,800.00 Explained above.

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(52,476.20) (55,083.00) 2,606.80 (175,359.58) (160,755.00) (14,604.58) (720,611.00) Explained above.

Due to aggressive evictions of chronic late paying residents.

Due to aggressive evictions of chronic late paying residents.

Due to a credit from the water and sewer company from abroken meter that was over paidon in 2005.

Due to a credit from the water and sewer company from abroken meter that was over paidon in 2005.

reclass of legal fees, above, inAdmin category

Due to large number of turnsneeding carpet replacement,residents were charged whenapplicable many are due to ageof carpet.


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5/177

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

342 313,778

356,941 356,261 353,425 355,390 356,985 356,985 356,985 356,985 360,554 364,160 364,160 364,160 4,302,991 12,581.85 13.71(50,457) (41,504) (32,721) (31,811) (28,559) (28,559) (21,419) (28,559) (32,450) (36,416) (40,058) (40,058) (412,571) (1,206.35) (1.31)(80,765) (83,296) (83,632) (87,068) (87,817) (87,817) (89,436) (87,817) (87,029) (86,256) (85,497) (85,497) (1,031,927) (3,017.33) (3.29)

(5,393) (4,621) (13,129) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (6,085) (77,907) (227.80) (0.25)220,326 226,840 223,943 230,426 234,524 234,524 240,045 234,524 234,990 235,403 232,520 232,520 2,780,585 8,130.37 8.86

26,619 19,852 3 2,398 20,445 20,445 20,445 20,445 20,445 20,445 20,445 20,445 20,445 262,874 768.64 0.84246,945 246,692 256,342 250,871 254,969 254,969 260,490 254,969 255,435 255,848 252,965 252,965 3,043,459 8,899.00 9.70

31,314 27,779 25,751 24,299 24,299 37,759 24,299 20,239 24,299 24,299 24,299 37,759 326,395 954.37 1.044,125 1,829 4,155 3,030 4,030 3,030 3,375 4,330 3,030 3,030 3,030 3,030 40,024 117.03 0.13

10,172 7,867 8,790 6,885 6,845 5,860 7,885 5,860 5,860 6,385 5,860 6,885 85,155 248.99 0.272,824 1,468 6,877 8,500 8,800 8,800 8,800 8,700 8,200 7,900 7,500 7,500 85,869 251.08 0 .27

484 2,348 2,996 3,095 2,345 2,345 4,645 2,345 2,295 13,595 2,295 2,295 41,083 120.13 0.132,095 (1,911) 750 4,140 8,140 3,640 3,640 3,640 6,640 4,640 4,640 2,395 42,449 124.12 0.14

15,018 14,773 20,876 14,885 15,549 15,049 16,670 17,049 15,067 15,084 15,469 14,969 190,459 556.90 0.6117,811 10,978 5,261 14,200 1 7,050 16,295 16,295 16,295 16,655 16,590 10,900 1 0,900 169,230 494.82 0.541,732 605 (2,311) 0 0 0 0 0 0 0 0 0 26 0.08 0.0034,178 39,883 33,892 33,891 33,891 33,891 33,891 33,891 33,891 33,891 33,891 33,891 412,971 1,207.52 1.32

119,755 105,619 107,036 112,925 120,949 126,669 119,500 112,349 115,937 125,414 107,884 119,624 1,393,661 4,075.03 4.44127,190 141,073 149,305 137,946 134,020 128,300 140,990 142,620 139,498 130,434 145,081 133,341 1,649,798 4,823.97 5.26

193,253 193,253 193,253 193,254 193,254 193,254 193,254 193,254 193,254 193,254 193,254 193,254 2,319,046 6,780.84 7.39

1,511 40 324 0 0 0 0 0 0 0 0 0 1,875 5.48 0.013,871 (782) 8,204 6,600 6,600 6,600 6,600 6,600 6,600 6,600 3,300 3,300 64,093 187.41 0.20

(71,445) (51,438) (52,476) (61,908) (65,834) (71,554) (58,864) (57,234) (60,356) (69,420) (51,473) (63,213) (735,216) (2,149.75) (2.34)

66,280 58,055 58,308 42,301 0 0 0 54,510 60,031 59,565 59,152 16,742 474,944

792 (2,230) (4,698) 0 0 0 0 0 0 0 0 0 (6,136)9,672 (940) (590) 0 0 0 0 0 0 0 0 0 8,141

372 (275) 86 0 0 0 0 0 0 0 0 0 183(34,325) (34,325) (34,325) 34,875 (7,125) (7,125) (7,125) (7,125) 19,275 (7,125) (7,125) (7,125) (98,701)

(23,489) (37,770) (39,527) 34,875 (7,125) (7,125) (7,125) (7,125) 19,275 (7,125) (7,125) (7,125) (96,512)

(5,209) 4,548 22,679 0 0 0 0 0 0 0 0 0 22,01734,702 17,279 26,292 0 0 0 0 0 0 0 0 0 78,2721,398 6,448 1,789 0 0 0 0 0 0 0 0 0 9,635

0 (763) (382) 0 0 0 0 0 0 0 0 0 (1,145)

30,890 27,511 50,377 0 0 0 0 0 0 0 0 0 108,779

2,236 (3,642) 16,682 15,268 (72,959) (78,679) (65,989) (9,849) 18,950 (16,980) 554 (53,596) (248,004)29,014 25,372 42,054 57,322 (15,637) (94,316) (160,305) (170,154) (151,204) (168,184) (167,630) (221,226)

UnSq. Ft.## 384807

ba 160 146,080cas 356 384,807ce 300 274,080co 257 254,074

jac 247 221,730lee 10 22,160re 428 398,868ric 5 24,952

par 300 305,832 pol 440 403,761sat 440 548,750sw 240 264,892trai 280 286,056vlg 120 108,276wa 284 254,103we 12 48,309wi 346 433,196usa 280 299,111usa 284 254,103

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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ipes burst in outside patio closet due to joint failure.

ROUTINE REPLACEMENTS:

Number of:NITS 16 REFRIGERATORS 0

7 DISHWASHERS 09 STOVES 0

192 A/C COMPRESSORS 0ending Completed 0 CONDENSING UNITS 00 32 32 WATER HEATERS 00 18 18 ICE MAKERS 00 16 16 GARBAGE DISPOSALS 00 10 10 MICROWAVES 0

0 93 93 CARPETS 40 0 0 CEILING FANS 00 23 23 TOILETS 00 0 0 A/C FAN MOTORS 00 192 192 COUNTER TOPS 0

0 CABINETS RESURFACED KITCHEN 00 BLINDS 17

TUBS RESURFACED 0TUB TILES 0

S IN PROGRESS:

NG ATTENTION:on 04/04/2006 to replace or re-dig the water meter hole.and the part for it is on order.

Nancy HowlandBeth McCallWendy GillanTemporary personnel.

r Gabriel TellezRussell BrileyJorge Chavez and Jorge Bernal

R THE MONTH:r landscaping, and picked out flowers for the spring season for planting in May.triping.

Number Replaced


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mployees.Lowes.

s and price sheets, we are waiving deposits for this group and app fees.


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Apt. #

9104, 7302, 9105, 4105

5-1, 2105-3, 12205-2, 13305-1, 10212-1, 10101


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SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUALS/F PER UNIT PER S/F GROSS GROSS

0 704 28,160 830 1.18 $33,200 $398,4002 704 22,528 860 1.22 $27,520 $330,2408 910 16,380 935 1.03 $16,830 $201,9604 808 19,392 895 1.11 $21,480 $257,7602 808 25,856 925 1.14 $29,600 $355,2002 977 41,034 1130 1.16 $47,460 $569,5204 1,030 45,320 1150 1.12 $50,600 $607,2002 1,030 22,660 1180 1.15 $25,960 $311,5204 977 23,448 1150 1.18 $27,600 $331,2006 1,030 16,480 1150 1.12 $18,400 $220,8000 1,030 20,600 1180 1.15 $23,600 $283,2004 1,140 27,360 1245 1.09 $29,880 $358,5604 1,140 4,560 1255 1.10 $5,020 $60,240

2 917 313,778 $1,044 $1.14 $357,150 $4,285,800


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ON Vacants NoticeT GROSS0 1.10 $31,000 7 3 0 0 70 1.10 $31,000 0 0 0 0 00 0.91 $14,850 4 1 0 0 40 0.98 $19,080 5 0 0 3 50 0.98 $25,440 0 0 0 0 00 0.82 $33,558 6 1 1 1 70 0.83 $37,400 5 2 0 2 50 0.83 $18,700 0 0 0 0 00 0.82 $19,176 0 0 0 0 00 0.83 $13,600 6 0 0 1 60 0.83 $17,000 0 0 0 0 0

0.91 $24,840 0 4 0 1 00.91 $4,140 0 0 0 0 0

0.92 $289,784 33 11 1 8 34

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


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MARKET SURVEYCourtney Downs

March-06

rookside 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 303-680-6696Greenwood 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 1687 7 3 6 3 3 4 3 4

$30.00 $40.00 $35.00 $40.00 $35.00 $35.00 $35.00 $35.00 $40.00yes yes yes yes yes yes yes yes yesyes. yes yes yes yes yes yes yes yes

225-375 350-500 400-500 150-300 200-300 400 300-500 400 300-600300-400 275 275-325 300 100 250-400 199 99 225-375

yes yes yes Only In Select Units Only Select Units no no no nono no yes yes yes yes yes yes yesyes yes yes yes yes yes yes yes yesyes yes yes yes yes yes yes yes yesno yes no no no no yes yes yes1 2 1 1 1 1 1 2 1

yes yes yes yes yes yes yes yes yesyes 2 1 1 1 1 1 2 1yes yes yes yes yes yes yes yes yesyes yes yes yes yes yes yes yes yesyes yes yes yes yes yes yes yes yesyes yes yes yes yes yes yes yes yesno yes yes yes yes yes yes yes yesyes yes no yes yes yes yes yes yesno yes yes yes no no yes yes yesno yes no yes yes no yes no yesyes no no no no no no no nono no no no no no no no noyes yes yes yes yes no yes yes yesyes yes yes yes yes yes yes yes yesno no no no no no no no noyes yes no yes yes yes yes yes yes


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MARKET SURVEY Courtney downs

March-06

PROPERTY: Courtney Downs Apt Brookside Village Carriage Place Coyte Ranch Windsor at Meridian Pinnacle @ the Creek riar@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) 830 704 1.18 850 812 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) 895 808 1.11 975 815 1.20 1065 785 1.36 955 853 1.12 645 701 0.92 660 705 0.94 880 853 1.03 825 842 0.98B1B w/study 935 910 1.03 740 811 0.91 730 760 0.96B BB w/loft B1B w/study 835 956 0.87 910 1051 0.87B2B (E) 1,130 977 1.16 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 0.96B2B (F) 1,150 1030 1.12 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) 1,150 1030 1.12 1030 1180 0.87B2B (H) B2BB w/study B2B TH B2B TH B2B 1,235 1140 1.08 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 92.6 95% 97 96% 98.00% 98% 91.3 96% 0 0% 91 94% 92 93% 96 93% 90 93% 95 96%Avg PSF 1 1.11 1.06 1.19 1.05 1.01 0.87 1.09 0.95 1.11 0.98

Avg Rents 1046 $1,144 $1,288 $1,114 $994 $808 $1,072 $1,004 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 selecte Special: $100 off 11-12 mo Special: $150-$200 off mar Special: $200-300 off mark Sepcial:None Special: waive deposits and Special: $150 to $200 off p Special:$250-$275 off markSpecial: 3 Months off of marSpecial: waive application or waive deposits.flect these rates $685 1/1 $805 2/2 $1310 3 $150 giftcertificate to $626 1/1 $800 2/2 $1275 3/2ecials: 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 corp Ren:Per corporate Ren: $50 increases on 12 Ren: $40 increas for 12 mo Ren: Average $15 to $20 in Ren: Free carpet cleaning with 12mo.

nits (Tot


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courtney downs march 06

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