Courtney Downs Feb 06

  • Uploaded by: Marcy
  • 0
  • 0
  • December 2019
  • PDF

This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA


Overview

Download & View Courtney Downs Feb 06 as PDF for free.

More details

  • Words: 5,255
  • Pages: 173
USA Courtney Downs LeaseCo, LLC Budget Comparison Books = Accrual For the period ending February 28, 2006

Account Revenue Market Rent Loss / Gain to Lease Gross Potential Rent Prepaid Homeowners Dues Residential Rent Vacancy Loss

MTD Actual

MTD Budget

355,720.00 680.00 356,400.00 0.00 (139.00) (41,504.16)

355,390.00 0.00 355,390.00 0.00 0.00 (35,345.00)

(3,988.35)

(2,000.00)

0.00 0.00 (285.00) (1,980.00) (575.00) (1,780.80) 0.00 0.00 (79,307.32) 0.00 0.00 0.00 0.00 $226,840.37

0.00 0.00 (500.00) (1,980.00) (575.00) (1,900.00) 0.00 (1,130.00) (84,298.00) 0.00 0.00 0.00 0.00 $227,662.00

Laundry Income Vending Income Covered Parking Income Late Charges & NSF Fees Month to Month Premium Storage Fees Repair & Maintenance Fees Application Fees Termination Fees & Damages

0.00 0.00 0.00 825.00 200.00 1,133.90 0.00 700.00 502.86

0.00 68.00 0.00 2,300.00 300.00 1,300.00 0.00 1,000.00 1,033.00

Miscellaneous Income No Name Interest Income Pet Rents & Fees

666.86 0.00 0.00 2,029.50

500.00 0.00 0.00 900.00

0.00 0.00 0.00 0.00 7,208.00 0.00 1,006.00 0.00 0.00 0.00 0.00 0.00 0.00 3,303.00 2,051.60 225.00 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 19,851.72

0.00 0.00 0.00 0.00 8,700.00 0.00 1,000.00 0.00 0.00 190.00 0.00 0.00 0.00 2,000.00 929.00 225.00 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 20,445.00

$246,692.09

$248,107.00

8,419.93 0.00 9,191.94

9,545.00 0.00 6,660.00

0.00 4,026.40 1,711.28 1,520.00 0.00 0.00 0.00 2,909.89

0.00 3,500.00 1,576.00 1,442.00 0.00 0.00 0.00 1,576.00

27,779.44

24,299.00

532.56 785.56 0.00 112.94 0.00 0.00

600.00 1,080.00 100.00 200.00 0.00 0.00

Upfront Rent Concessions

Corporate Discount Delinquent Rent Adjustments & W/O Model Units Courtesy Officer Apt. Employee Apartment Housekeeping & Maintenance Fee Guest Suite Lease Term Concessions Homeowner's Assn Dues Income Homeowner Dues Paid Model Units Lease Contract Difference Total Rental Income

Tower Rent Asset Management Fee Parking Spaces Income Homeowners Assessments Garage Income Water/Sewer Income Cable/Telephone Income HOA Contributions Developer Developer HOA Dues Forfeited Deposits Developer Contributions Interest Income Other Thunder Income Administration Fee Move-Out Charges Short Term Lease Fees Extra-Ordinary Income Corporate Rent Corporate Units - expense Deferred Revenue HOA Developer Contributions Acquisition Fees Income - Rental Income - C.A.M. Income - Insurance Income - Taxes Income - Interest Income - Other Income - Condo Sales Total Other Income Total Revenue Expense Managers Salary Salaries Maintenance Salary

Salary - Administrative Commissions & Bonus Payroll Taxes Group Insurance Disability Insurance 401k Match Contract Labor Workers Comp

Total Salary Expense Office Operations & Supplies Telephones Answering Svc. & Pagers Postage & Delivery Patrol Services Membership Dues

$ Variance

MTD Variance Comment

330.00 680.00 1,010.00 0.00 (139.00) (6,159.16) occupancy averaged 89% for the month vs 90% budgetd. We closed out the month at 92% (1,988.35) additional concessions were offered on some vacant apartments. The remained of February was concessed on move in 0.00 0.00 215.00 0.00 0.00 119.20 0.00 1,130.00 4,990.68 0.00 0.00 0.00 0.00 $(821.63) a negative variance to vacancy loss was offset by a savings in concessions 0.00 (68.00) 0.00 (1,475.00) (100.00) (166.10) 0.00 (300.00) (530.14) one partial termination fee was collected this month 166.86 0.00 0.00 1,129.50 pet violation notices were sent out in January resulting in collections of additional pet fees and monthly pet rent 0.00 0.00 0.00 0.00 (1,492.00) 0.00 6.00 0.00 0.00 (190.00) 0.00 0.00 0.00 1,303.00 1,122.60 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 (593.28) $(1,414.91)

1,125.07 0.00 (2,531.94) the grounds keeper position was not included in the budget, but these costs are offset in a savings in make ready 0.00 (526.40) (135.28) (78.00) 0.00 0.00 0.00 (1,333.89) negative to budget due to the increased number of employees that were not budgeted (3,480.44) 67.44 294.44 100.00 87.06 0.00 0.00

YTD Actual

YTD Budget

$ Variance

Annual Budget

711,440.00 1,280.00 712,720.00 0.00 482.00 (91,961.49)

710,780.00 0.00 710,780.00 0.00 0.00 (70,690.00)

660.00 1,280.00 1,940.00 0.00 482.00 (21,271.49)

4,302,534.00 0.00 4,302,534.00 0.00 0.00 (390,390.00)

(84,732.28)

(4,000.00)

(80,732.28)

(24,000.00)

0.00 0.00 (1,341.95) (3,960.00) (1,150.00) (3,561.60) 0.00 0.00 (79,328.71) 0.00 0.00 0.00 0.00 $447,165.97

0.00 0.00 (1,000.00) (3,960.00) (1,150.00) (3,800.00) 0.00 (2,260.00) (167,762.00) 0.00 0.00 0.00 0.00 $456,158.00

0.00 0.00 (341.95) 0.00 0.00 238.40 0.00 2,260.00 88,433.29 0.00 0.00 0.00 0.00 $(8,992.03)

0.00 0.00 (6,000.00) (23,760.00) (6,900.00) (22,800.00) 0.00 (13,560.00) (1,019,064.00) 0.00 0.00 0.00 0.00 $2,796,060.00

0.00 0.00 0.00 2,432.00 400.00 2,203.90 0.00 1,350.00 502.86

0.00 136.00 0.00 4,600.00 600.00 2,600.00 0.00 2,000.00 2,066.00

0.00 (136.00) 0.00 (2,168.00) (200.00) (396.10) 0.00 (650.00) (1,563.14)

0.00 816.00 0.00 27,600.00 3,600.00 15,600.00 0.00 12,000.00 12,396.00

6,852.45 0.00 0.00 2,515.50

1,000.00 0.00 0.00 1,800.00

5,852.45 0.00 0.00 715.50

6,000.00 0.00 0.00 10,800.00

0.00 0.00 0.00 0.00 14,099.22 0.00 2,012.00 0.00 0.00 0.00 0.00 0.00 0.00 5,190.00 8,462.87 450.00 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 46,470.80

0.00 0.00 0.00 0.00 17,400.00 0.00 2,000.00 0.00 0.00 380.00 0.00 0.00 0.00 4,000.00 1,858.00 450.00 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 40,890.00

0.00 0.00 0.00 0.00 (3,300.78) 0.00 12.00 0.00 0.00 (380.00) 0.00 0.00 0.00 1,190.00 6,604.87 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 5,580.80

0.00 0.00 0.00 0.00 104,400.00 0.00 12,000.00 0.00 0.00 2,280.00 0.00 0.00 0.00 24,000.00 11,148.00 2,700.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 245,340.00

$493,636.77

$497,048.00

$(3,411.23)

$3,041,400.00

17,592.37 0.00 19,121.67

19,090.00 0.00 13,320.00

1,497.63 0.00 (5,801.67)

124,082.00 0.00 86,582.00

0.00 9,316.90 3,851.39 3,192.00 0.00 0.00 0.00 6,018.84

0.00 3,500.00 2,872.00 2,884.00 0.00 0.00 0.00 2,872.00

0.00 (5,816.90) (979.39) (308.00) 0.00 0.00 0.00 (3,146.84)

0.00 42,000.00 20,210.00 17,304.00 0.00 0.00 0.00 20,210.00

59,093.17

44,538.00

(14,555.17)

310,388.00

2,059.35 2,443.47 167.97 584.04 0.00 0.00

1,200.00 2,160.00 200.00 400.00 0.00 0.00

(859.35) (283.47) 32.03 (184.04) 0.00 0.00

7,200.00 12,960.00 1,200.00 2,400.00 0.00 0.00

YTD Variance Comment

Publications & Subscriptions Conventions/Seminars Employee Training Furniture Rental Car Expenses Permits & Fees Credit Checks Guest Suite Expense Parking Cost Total Operating Expense

142.00 0.00 90.00 0.00 0.00 0.00 166.00 0.00 0.00 1,829.06

0.00 0.00 100.00 0.00 200.00 0.00 750.00 0.00 0.00 3,030.00

Advertising & Promotions

5,344.00

3,452.00

Resident Promotions Locators Resident Referrals

668.61 854.25 1,000.00

475.00 1,033.00 900.00

7,866.86

5,860.00

79.72

2,500.00

730.00

2,500.00

469.50 189.00 0.00 0.00 0.00 0.00 0.00 1,468.22

1,200.00 200.00 500.00 100.00 100.00 100.00 300.00 7,500.00

377.92 52.13 122.44 814.78

750.00 150.00 75.00 150.00

0.00 419.56 0.00 240.24 205.46 47.46 68.44 0.00 0.00 0.00 0.00 0.00 0.00 2,348.43

100.00 400.00 0.00 50.00 75.00 150.00 100.00 0.00 0.00 295.00 0.00 0.00 0.00 2,295.00

0.00 513.69 75.00 0.00 0.00 0.00 0.00 (2,500.00)

0.00 775.00 75.00 0.00 0.00 0.00 45.00 1,500.00

(1,911.31)

2,395.00

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

10,410.88

9,924.00

1,000.00 3,250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 112.23 0.00 0.00 0.00 0.00 0.00 14,773.11

1,000.00 3,250.00 550.00 0.00 0.00 0.00 0.00 0.00 0.00 50.00 0.00 0.00 0.00 0.00 0.00 14,774.00

0.00 0.00 550.00 0.00 0.00 0.00 0.00 0.00 0.00 (62.23) 0.00 0.00 0.00 0.00 0.00 0.89

2,755.94 0.00 4,782.76 6,137.21 (5,084.83) (1,217.62) 0.00

2,800.00 0.00 4,000.00 7,500.00 (4,000.00) 0.00 0.00

44.06 0.00 (782.76) 1,362.79 1,084.83 1,217.62 0.00

Total Advertising Expense Paint & Drywall Contract Cleaning Svcs. Carpet Cleaning & Repairs Window Coverings Vinyl & Tile Repairs Lock & Keys Counter & Tub Resurfacing Other Redecorating Cleaning Supplies Total Make Ready Expense

General Maintenance & Supplies HVAC Parts & Repairs Plumbing Parts & Repairs Electric Parts & Repairs Roof & Gutter Repairs Pools & Fountains Gates & Entrances Glass & Screens Appliance Parts & Repairs Hardware Exterior Painting Uniforms Elevator Service & Repairs Security & Fire Systems Uninsured Losses Locks & Keys Bulbs & Ballasts Total Maintenance Expense

Landscape & Grounds Trash Removal Pest Control Security Patrols Window Cleaning Svc. Interior Cleaning Svc. Cable Television Snow Removal

Total Service Expense Expenses - CAM - Electric Expenses - CAM - Water/Sewer Expenses - CAM - Gas Expenses - CAM - Grounds Expenses - CAM - Trash Removal Expenses - CAM - Cleaning Svcs Expenses - CAM - Maintenance Expenses - CAM - Insurance Expenses - CAM - R/E Taxes Total CAM Expense Management Fees Asset Management Fees Investor Administration Fee Legal Fees Accounting Fees Postage & Delivery Bank Charges Partnership Insurance Other Administrative Expenses Travel Expense Employee Activities Printing Computer Consulting Computer Expense Bank Charges Development Cost Total Admin. Expense Electricity Electricity Gas - Resident Natural Gas Water & Sewer Water & Sewer - Resident Reimb Water - irrigation Electric - Tenant Reimbursement

(142.00) 0.00 10.00 0.00 200.00 0.00 584.00 0.00 0.00 1,200.94

142.00 0.00 90.00 0.00 0.00 0.00 467.51 0.00 0.00 5,954.34

0.00 0.00 200.00 0.00 400.00 0.00 1,500.00 0.00 0.00 6,060.00

(142.00) 0.00 110.00 0.00 400.00 0.00 1,032.49 0.00 0.00 105.66

1,645.00 0.00 2,200.00 0.00 2,400.00 0.00 9,000.00 0.00 0.00 39,005.00

(1,892.00) all print advertising costs were not completely budgeted. We will be dropping one of our advertisements next quarter to bring these costs more in line. The For Rent ad that we are discontiuing has not been effective and is expensive.

10,590.41

6,904.00

(3,686.41)

42,409.00

(193.61) 178.75 (100.00) two resident referrals at $500 each were paid out this month (2,006.86)

2,719.68 1,229.25 3,500.00

950.00 2,066.00 1,800.00

(1,769.68) 836.75 (1,700.00)

10,300.00 12,396.00 10,800.00

18,039.34

11,720.00

(6,319.34)

75,905.00

155.07

5,000.00

4,844.93

33,200.00

2,780.00

5,000.00

2,220.00

32,500.00

1,103.00 (2.00) 0.00 0.00 185.00 0.00 71.44 4,292.51

2,400.00 400.00 1,000.00 200.00 200.00 200.00 600.00 15,000.00

1,297.00 402.00 1,000.00 200.00 15.00 200.00 528.56 10,707.49

15,900.00 2,400.00 6,000.00 1,200.00 1,200.00 1,200.00 3,600.00 97,200.00

512.77 356.34 401.94 814.78

1,500.00 300.00 150.00 300.00

987.23 (56.34) (251.94) (514.78)

9,200.00 1,800.00 4,200.00 1,800.00

0.00 488.74 0.00 269.29 380.78 47.46 68.44 180.56 0.00 (688.60) 0.00 0.00 0.00 2,832.50

200.00 800.00 0.00 100.00 150.00 300.00 200.00 0.00 0.00 590.00 0.00 0.00 0.00 4,590.00

200.00 311.26 0.00 (169.29) (230.78) 252.54 131.56 (180.56) 0.00 1,278.60 0.00 0.00 0.00 1,757.50

1,200.00 5,800.00 0.00 600.00 900.00 1,800.00 1,200.00 2,100.00 0.00 11,540.00 0.00 0.00 0.00 42,140.00

0.00 1,034.15 150.00 0.00 0.00 0.00 0.00 (1,000.00)

0.00 2,300.00 150.00 0.00 0.00 0.00 90.00 3,000.00

0.00 1,265.85 0.00 0.00 0.00 0.00 90.00 4,000.00

32,205.00 10,050.00 900.00 0.00 0.00 0.00 540.00 8,000.00

184.15

5,540.00

5,355.85

51,695.00

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 0.00 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

20,289.82

19,882.00

(407.82)

121,658.00

2,000.00 6,500.00 0.00 0.00 0.00 0.00 0.00 0.00 825.49 112.23 0.00 0.00 63.95 0.00 0.00 29,791.49

2,000.00 6,500.00 1,100.00 0.00 0.00 0.00 0.00 0.00 0.00 100.00 0.00 0.00 0.00 0.00 0.00 29,582.00

0.00 0.00 1,100.00 0.00 0.00 0.00 0.00 0.00 (825.49) (12.23) 0.00 0.00 (63.95) 0.00 0.00 (209.49)

12,000.00 39,000.00 6,600.00 0.00 0.00 0.00 0.00 0.00 1,000.00 2,600.00 0.00 0.00 1,400.00 0.00 0.00 184,258.00

7,480.64 0.00 10,971.24 18,071.88 (5,118.55) (4,132.78) 0.00

5,600.00 0.00 8,000.00 15,000.00 (8,000.00) 0.00 0.00

(1,880.64) 0.00 (2,971.24) (3,071.88) (2,881.45) 4,132.78 0.00

33,600.00 0.00 35,120.00 106,000.00 (50,500.00) 40,840.00 0.00

2,420.28 done in house to save money to offset staffing costs 1,770.00 fewer turns on apartments created a positive variance 730.50 11.00 500.00 100.00 100.00 100.00 300.00 6,031.78 Positive variance more than offsets the negative payroll costs

372.08 97.87 (47.44) (664.78) Hot water heater coils purchased. 100.00 (19.56) 0.00 (190.24) (130.46) 102.54 31.56 0.00 0.00 295.00 0.00 0.00 0.00 (53.43) no extraordinary costs for the month. In line with budget, YTD is positive to budget 0.00 261.31 0.00 0.00 0.00 0.00 45.00 4,000.00 snow removal was not required this month and the negative entry is a reversed accrual from last month. These costs will not be accrued going forward, unless service is rendered 4,306.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (486.88) Based on total revenue collected.

Trash Reimbursement Water - Tenant Reimbursement Utility -Vacant Electric Utility - Vacant Gas Tenant Reimbursement - Gas Total Utility Expense

(1,915.44) 2,819.98 1,478.49 1,221.07 0.00 10,977.56

(2,200.00) 0.00 1,700.00 1,100.00 0.00 10,900.00

Management Fees Management Fees-MRLL Property Legal Fees

0.00 0.00 605.00

0.00 0.00 0.00

Credit Card Fees Bank Charges Bank Adjustments Other Professional Fees Late Charges HOA Assessment Fees Contributions Fiduciary Fees Custodial Fees Thunder Expense Accounting Fees Total Management Expense

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 605.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Property Taxes Franchise Tax Insurance Tax Consultants MIP Total Taxes & Insurance Total Operating Expenses NET OPERATING INCOME

33,052.33 0.00 6,330.29 500.00 0.00 39,882.62 105,618.99 141,073.10

27,200.00 0.00 6,691.00 0.00 0.00 33,891.00 104,944.00 143,163.00

Base Rent Stated Rent Office Rent Total Rent Expense

106,586.67 86,666.67 0.00 193,253.34

106,587.00 86,667.00 0.00 193,254.00

0.00 0.00 0.00 0.00 0.00

Mortgage Interest Loan Fees Interest Expense Interest Expense Total Debt Service Partnership Legal Fees Partnership Accounting Fees Partnership Travel Partnership - Meals Partnership Fees - Other Partnership Expense Due Diligence Cost Dead Deal Cost Partnership Exp- Leaseup Costs Total Partnership Expense Exterior Rehab Interior Rehab HVAC Replacement Carpet & Floor Replacement Refrigerators Dishwashers & Ranges Washers / Dryers Fire Alarm Replacement Other Capital Improvements Boiler Replacement Roof Replacement Total Capital Expenses Casualty Losses Casualty Recovery Total Casualty Loss NET INCOME (LOSS)

(284.56) (2,819.98) 221.51 (121.07) 0.00 (77.56)

(3,803.19) 0.00 2,986.29 2,333.09 0.00 28,788.62

(4,400.00) 0.00 3,400.00 2,200.00 0.00 21,800.00

(596.81) 0.00 413.71 (133.09) 0.00 (6,988.62)

(26,400.00) 0.00 20,400.00 9,820.00 0.00 168,880.00

0.00 0.00 2,311.00

0.00 0.00 0.00

0.00 0.00 (2,311.00)

0.00 0.00 0.00

0.00 26.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,337.00

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 (26.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (2,337.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

60,252.33 0.00 13,308.15 500.00 0.00 74,060.48 225,373.60 268,263.17

54,400.00 0.00 13,382.00 0.00 0.00 67,782.00 206,612.00 290,436.00

(5,852.33) 0.00 73.85 (500.00) 0.00 (6,278.48) (18,761.60) (22,172.83)

326,400.00 0.00 80,292.00 0.00 0.00 406,692.00 1,376,163.00 1,665,237.00

0.33 0.33 0.00 0.66

213,173.34 173,333.34 0.00 386,506.68

213,174.00 173,334.00 0.00 386,508.00

0.66 0.66 0.00 1.32

1,279,044.00 1,040,004.00 0.00 2,319,048.00

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 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 40.41 0.00 0.00 0.00 0.00 0.00 0.00 40.41

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 (40.41) 0.00 0.00 0.00 0.00 0.00 0.00 (40.41)

1,510.50 0.00 40.41 0.00 0.00 0.00 0.00 0.00 0.00 1,550.91

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 (40.41) 0.00 0.00 0.00 0.00 0.00 0.00 (1,550.91)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 (3,000.00) 0.00 2,217.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (782.37)

0.00 0.00 0.00 3,300.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,300.00

0.00 0.00 0.00 3,088.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,088.96

0.00 3,000.00 0.00 6,600.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,600.00

0.00 3,000.00 0.00 3,511.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,511.04

0.00 3,000.00 0.00 63,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 66,800.00

0.00 0.00 0.00 (51,438.28)

0.00 0.00 0.00 (53,391.00)

0.00 0.00 0.00 (122,883.38)

0.00 0.00 0.00 (105,672.00)

0.00 0.00 0.00 (17,211.38)

0.00 0.00 0.00 (720,611.00)

0.00 0.00 (605.00) legal fees for eviction proceedings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (605.00) (5,852.33) Includes Arapaho County tax. 0.00 360.71 (500.00) Tax fee paid to Advantax. 0.00 (5,991.62) (674.99) (2,089.90)

0.00 3,000.00 reversal of prior accural 0.00 1,082.37 Replaced three carpets. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,082.37 0.00 0.00 0.00 1,952.72

USA Courtney Downs LeaseCo, LLC Cash Flow (Actual + Budget) Books = Accrual For the 12 Months Ending Dec 2006 Jan 2006 Actual

Account

Feb 2006 Actual

Mar 2006 Reforecast

Apr 2006 Reforecast

May 2006 Reforecast

Jun 2006 Reforecast

Jul 2006 Reforecast

Aug 2006 Reforecast

Sep 2006 Reforecast

Oct 2006 Reforecast

Nov 2006 Reforecast

Dec 2006 Reforecast

12 Month Total

$/ Unit 342

$/ Sq. Ft. 313,778

Revenue Gross Potential Rent - Vacancy - Concessions & Disc. - Other Write-offs & Adj. Total Rental Income

356,941 (50,457) (80,765) (5,393) 220,326

356,261 (41,504) (83,296) (4,621) 226,840

355,390 (31,811) (87,068) (6,085) 230,426

355,390 (31,811) (87,068) (6,085) 230,426

356,985 (28,559) (87,817) (6,085) 234,524

356,985 (28,559) (87,817) (6,085) 234,524

356,985 (21,419) (89,436) (6,085) 240,045

356,985 (28,559) (87,817) (6,085) 234,524

360,554 (32,450) (87,029) (6,085) 234,990

364,160 (36,416) (86,256) (6,085) 235,403

364,160 (40,058) (85,497) (6,085) 232,520

364,160 (40,058) (85,497) (6,085) 232,520

4,304,956 (411,661) (1,035,363) (70,864) 2,787,068

12,587.59 (1,203.69) (3,027.38) (207.20) 8,149.32

13.72 (1.31) (3.30) (0.23) 8.88

Other Income Total Revenue

26,619 246,945

19,852 246,692

20,445 250,871

20,445 250,871

20,445 254,969

20,445 254,969

20,445 260,490

20,445 254,969

20,445 255,435

20,445 255,848

20,445 252,965

20,445 252,965

250,921 3,037,989

733.69 8,883.01

0.80 9.68

31,314 4,125 10,172 2,824 484 2,095 15,018 17,811 1,732 34,178

27,779 1,829 7,867 1,468 2,348 (1,911) 14,773 10,978 605 39,883

24,299 3,030 5,860 7,500 2,295 4,640 14,885 11,900 0 33,891

24,299 3,030 6,885 8,500 3,095 4,140 14,885 14,200 0 33,891

24,299 4,030 6,845 8,800 2,345 8,140 15,549 17,050 0 33,891

37,759 3,030 5,860 8,800 2,345 3,640 15,049 16,295 0 33,891

24,299 3,375 7,885 8,800 4,645 3,640 16,670 16,295 0 33,891

20,239 4,330 5,860 8,700 2,345 3,640 17,049 16,295 0 33,891

24,299 3,030 5,860 8,200 2,295 6,640 15,067 16,655 0 33,891

24,299 3,030 6,385 7,900 13,595 4,640 15,084 16,590 0 33,891

24,299 3,030 5,860 7,500 2,295 4,640 15,469 10,900 0 33,891

37,759 3,030 6,885 7,500 2,295 2,395 14,969 10,900 0 33,891

324,943 38,899 82,224 86,493 40,383 46,339 184,467 175,869 2,337 412,970

950.13 113.74 240.42 252.90 118.08 135.49 539.38 514.24 6.83 1,207.52

1.04 0.12 0.26 0.28 0.13 0.15 0.59 0.56 0.01 1.32

Total Operating Exp. Net Operating Income

119,755 127,190

105,619 141,073

108,300 142,571

112,925 137,946

120,949 134,020

126,669 128,300

119,500 140,990

112,349 142,620

115,937 139,498

125,414 130,434

107,884 145,081

119,624 133,341

1,394,925 1,643,064

4,078.73 4,804.28

4.45 5.24

Rent Expense Partnership Expense Capital Expense

193,253 1,511 3,871

193,253 40 (782)

193,254 0 4,400

193,254 0 6,600

193,254 0 6,600

193,254 0 6,600

193,254 0 6,600

193,254 0 6,600

193,254 0 6,600

193,254 0 6,600

193,254 0 3,300

193,254 0 3,300

2,319,047 1,551 60,289

6,780.84 4.53 176.28

7.39 0.00 0.19

Cash Flow Frm Operations

(71,445)

(51,438)

(55,083)

(61,908)

(65,834)

(71,554)

(58,864)

(57,234)

(60,356)

(69,420)

(51,473)

(63,213)

(737,822)

(2,157.38)

(2.35)

66,280

58,055

58,308

42,301

0

0

0

54,510

60,031

59,565

59,152

16,742

474,944

Balance Sheet Adjustments Cash - Non Operating Accounts Accounts Receivable Prepaid Assets Escrow Deposits

792 9,672 372 (34,325)

(2,230) (940) (275) (34,325)

0 0 0 (7,125)

0 0 0 (7,125)

0 0 0 3,093

0 0 0 (7,125)

0 0 0 (7,125)

0 0 0 (7,125)

0 0 0 19,275

0 0 0 (7,125)

0 0 0 (7,125)

0 0 0 (7,125)

(1,438) 8,732 97 (103,283)

Cash Increase (Decreae) From Assets

Operating Expenses Salary Expense Operating Expense Advertising Expense Make Ready Expense Maintenance Expense Service Expense Administrative Expense Utility Expense Management Expense Taxes & Insurance

Rent Guarantee

(23,489)

(37,770)

(7,125)

(7,125)

3,093

(7,125)

(7,125)

(7,125)

19,275

(7,125)

(7,125)

(7,125)

(95,892)

Accounts Payable Accrued Expenses Other Payables Notess Payable

(5,209) 34,702 1,398 0

4,548 17,279 6,448 (763)

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

(661) 51,980 7,846 (763)

Cash Increase (Decreae) From Liab.

30,890

27,511

0

0

0

0

0

0

0

0

0

0

58,402

NET CASH FLOW CUMM. NET CASH FLOW

2,236 29,014

(3,642) 25,372

(3,900) 21,472

(26,732) (5,260)

(62,741) (68,001)

(78,679) (146,680)

(65,989) (212,669)

(9,849) (222,518)

18,950 (203,568)

(16,980) (220,548)

554 (219,994)

(53,596) (273,590)

(300,369)

$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $$(100,000) $(200,000) $(300,000) Jan 2006

Feb 2006

Mar 2006

Apr 2006

May 2006

NET CASH FLOW

Jun 2006

Jul 2006

Aug 2006

Sep 2006

Oct 2006

Nov 2006

Dec 2006

CUMM. NET CASH FLOW

Units Sq. Ft. ### 384807 bayclub2 castlep cedar congress jackson lee rem ric parkside polo sat sweet trailapt vlgcrest walnut westo wind usacourt usawalcr

160 356 300 257 247 10 428 5 300 440 440 240 280 120 284 12 346 280 284

146,080 384,807 274,080 254,074 221,730 22,160 398,868 24,952 305,832 403,761 548,750 264,892 286,056 108,276 254,103 48,309 433,196 299,111 254,103

D47:

administrator: replacement reserve

E47:

administrator: replacement reserve

F47:

administrator: replacement reserve

G47:

administrator: replacement reserve

H47:

administrator: replacement reserve

I47:

administrator: replacement reserve

J47:

administrator: replacement reserve

K47:

administrator: replacement reserve

L47:

administrator: replacement reserve

M47:

administrator: replacement reserve

Courtney Downs Apartments February 2006 LEASING & OCCUPANCY NUMBER OF MOVE INS: NUMBER OF MOVE OUTS: NET FOR THE MONTH:

19 10 9

OCCUPIED/LEASED %:

87.0% 91.2%

SOURCE OF TRAFFIC: APTGUIDE.COM APARTMENT GUIDE YELLOW PAGES OTHER. NET FOR RENT RENT.NET LIVES IN AREA RESIDENT REFERRAL LOCATORS RENT.COM WALK-IN SIGNAGE WORD OF MOUTH TOTALS CLOSING RATIO:

INCOME THIS MONTH: INCOME LAST MONTH: DIFFERENCE:

$246,692.09 $246,944.68 -$252.59

TOTAL # GARAGES # GARAGES OCCUPIED GARAGES OCCUPIED %;

120 115 96%

REASONS WHY PROSPECTS DID NOT LEASE: Traffic 0 8 0 10 0 4 9 3 5 0 0 8 7

Leased 0 3 0 5 0 2 5 3 3 0 0 3 4

54

28

* * * * * * * * * * * * * *

Job Transfer Restricted Pet Breed Future/No Availability/Waiting list Just started looking. Waiting for Home to Sell Current Lease to Expire Needs Ground Floor Moved Elsewhere Will return with roommate or spouse Realtor Looking for Client Undecided Employment pending House sale pending Rented at Competitor TOTALS

33%

MARKETING ACTIVITIES & SOURCES FOR THE MONTH * Met with Apartment Guide representative to create new flyers for outside marketing and direct mailers. * Updated all locators with new move in specials and price sheets. * Dropped off brochures and price sheets to surrounding realtors with short term leasing options. * Updated all Internet adds with current pricing and specials. * Met with Human Resources Representative from Home Depot with relocation deals.

OVERVIEW OF COMPARABLE PROPERTIES: The surrounding comps are offering rents averaging from $565 to $755 on one bedrooms, and two bedrooms from $775 to $1015 and three bedrooms from $965 to $1215. Due to a few harsh winter weeks all properties in our market have increased concessions and all pro rated specials. RESIDENT RETENTION: We are showing 10 renewals for the month of February at an average increase of $20.70. We have continued to discuss all options with residents to keep turnover to a minimum. 5- residents did not renew due to buying houses, 1-resident is moving out of town, and 1-moved due to financial reasons. INCIDENTS ON THE PROPERTY: N/A

4 0 2 7 0 1 0 0 5 0 0 4 3 0 26

MAINTENANCE:

MARKET READY UNITS COMPLETE PAINTS TOUCH UPS WORK ORDERS Pending Misc 0 Electrical 0 Punch 0 HVAC 0 Plumbing 0 Property Ext. 0 Appliances 0 Safety 0 Total 0 ROOF LEAKS PLUMBING LEAKS

ROUTINE REPLACEMENTS:

Completed 10 21 11 6 83 0 13 0 144

Number of: 11 5 6 144 0 10 21 11 6 83 0 13 0 144 0 0

REFRIGERATORS DISHWASHERS STOVES A/C COMPRESSORS CONDENSING UNITS WATER HEATERS ICE MAKERS GARBAGE DISPOSALS MICROWAVES CARPETS CEILING FANS TOILETS A/C FAN MOTORS COUNTER TOPS CABINETS RESURFACED KITCHEN BLINDS TUBS RESURFACED TUB TILES

Number Replaced 0 0 0 0 0 0 0 0 0 5 0 0 0 0 0 8 0 0

Apt. #

2,105,182,021,911,250,000,000

9303-2,4208-2,7105-1,2105-3.

CAPITAL IMPROVEMENTS IN PROGRESS: N/A in progress.

PROBLEM AREAS NEEDING ATTENTION: Notified by Arapahoe water district that Irrigation meter housing must be lowered to grade, per county code. Meter was removed by Arapahoe County to avoid damage. We are in the process of bidding out the work.

CURRENT STAFF: Manager Assistant Manager Leasing Consultant Leasing Consultant Maintenance Supervisor Assistant Maintenance Maintenance/ Grounds

Nancy Howland Beth McCall Wendy Gillan Kathy Hensey Gabriel Tellez Russell Briley Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH: Treadmills were repaired and free weights replaced. Both flood units are completed.

Courtney Downs RENTAL SCHEDULE

February-06

UNIT TYPE A1 A1V A2 B1 B1V C C1 C1V CV D DV E EV TOTAL

1BR 1BR 1BR 2BR 2BR 2BR 2BR 2BR 2BR 2BR 2BR 3BR 3BR

#UNITS

SIZE

40 32 18 24 32 42 44 22 24 16 20 24 4

704 704 910 808 808 977 1,030 1,030 977 1,030 1,030 1,140 1,140

TOTAL S/F 28,160 22,528 16,380 19,392 25,856 41,034 45,320 22,660 23,448 16,480 20,600 27,360 4,560

342

917

313,778

MKT RENT PER UNIT 830 860 935 895 925 1130 1150 1180 1150 1150 1180 1245 1255 $1,044

MKT RENT MONTHLY PER S/F GROSS 1.18 $33,200 1.22 $27,520 1.03 $16,830 1.11 $21,480 1.14 $29,600 1.16 $47,460 1.12 $50,600 1.15 $25,960 1.18 $27,600 1.12 $18,400 1.15 $23,600 1.09 $29,880 1.10 $5,020 $1.14

$357,150

ANNUAL GROSS $398,400 $330,240 $201,960 $257,760 $355,200 $569,520 $607,200 $311,520 $331,200 $220,800 $283,200 $358,560 $60,240

EFFECTIVE CONCESSION RENTS* 775 775 825 795 795 799 850 850 799 850 850 1,035 1,035

CONCESSION PER UNIT 55 85 110 100 130 331 300 330 351 300 330 210 220

$4,285,800

EFFECTIVE PER S/F

1.10 1.10 0.91 0.98 0.98 0.82 0.83 0.83 0.82 0.83 0.83 0.91 0.91

EFFECTIVE MONTHLY GROSS $31,000 $24,800 $14,850 $19,080 $25,440 $33,558 $37,400 $18,700 $19,176 $13,600 $17,000 $24,840 $4,140 $283,584

* Net of Concessions

Vacants + 7 0 4 5 0 6 5 0 0 6 0 0 0

Vacants Leased 3 0 1 0 0 1 2 0 0 0 0 4 0

33

11

Notice

Notice Leased

Net Available

0 0 0 0 0 1 0 0 0 0 0 0 0

0 0 0 3 0 1 2 0 0 1 0 1 0

4 0 3 2 0 5 1 0 0 5 0 0 0

1

8

20

MARKET SURVEY Courtney Downs February-06 Apartment Name

Address Phone Location # of units Age of Property Application Fee Credit Card Pets Allowed Pet Deposit Sec. Deposit W/D included Covered Parking Garage Cable Tennis Courts # of pools Weight Room Jacuzzi Ceiling Fans Microwaves Mini Blinds FF Freezer Icemakers Fireplaces Access Gates Alarm in Unit Door to Door Aerobics/Kick Box Movie Room Computer Library Indoor Basketball Water Charge

Courtney Downs

Brookside Village

15849 E. Jamison Dr 5400 S Park Terrace 720-870-6114 303-220-7086 Englewood, Co Greenwood Village, Co 342 304 2002 1998 $50.00 $30.00 yes yes yes yes. 300 n/r 225-375 300-1500 300-400 Yes yes no no Detached yes Yes yes no no 1 1 yes yes yes yes yes yes yes yes yes yes yes yes yes no yes yes no no Prewired no no yes no no no yes yes yes no no yes yes

Carriage Place

Coyote Ranch

4900 S Ulster 16363 E Freemont Ave 303-740-7011 303-693-8787 Denver, Co 80237 Aurora, Co 331 507 1997 2002 $40.00 $35.00 yes yes yes yes 350-500 400-500 275 275-325 yes yes no yes yes yes yes yes yes no 2 1 yes yes 2 1 yes yes yes yes yes yes yes yes yes yes yes no yes yes yes no no no no no yes yes yes yes no no yes no

Windsor @ Meridian

9875 Jefferson Pkwy 303-256-7700 Englewood, Co 80112 653 1999 $40.00 yes yes 150-300 300 Only In Select Units yes yes yes no 1 yes 1 yes yes yes yes yes yes yes yes no no yes yes no yes

Pinnacle @ the Creek Greenbriar @ Saddle Rock

6107 S Parker Rd 303-766-2500 Centennial, Co 216 2002 $35.00 yes yes 200-300 100 Only Select Units yes yes yes no 1 yes 1 yes yes yes yes yes yes no yes no no yes yes no yes

22159 E Ontario Dr 303-617-6600 Aurora, Co 250 2002 $35.00 yes yes 400 250-400 no yes yes yes no 1 yes 1 yes yes yes yes yes yes no no no no no yes no yes

Dove Valley

7550 S Blackhawk 303-362-2000 Englewood, Co 80112 312 2001 $35.00 yes yes 300-500 199 no yes yes yes yes 1 yes 1 yes yes yes yes yes yes yes yes no no yes yes no yes

Cherrywood Village

16950 E Carlson Dr 303-805-7220 Parker, Co 80134 380 2002 $35.00 yes yes 400 99 no yes yes yes yes 2 yes 2 yes yes yes yes yes yes yes no no no yes yes no yes

Reserve @ South Creek

15611 E Jamison Dr 303-680-6696 Englewood, Co 80112 168 2002 $40.00 yes yes 300-600 225-375 no yes yes yes yes 1 yes 1 yes yes yes yes yes yes yes yes no no yes yes no yes

MARKET SURVEY Courtney Downs February-06

(Concessions reduced rates) PROPERTY:

Courtney Downs PRICE

Efficiency Efficiency 1B1B (A) 1B1B (B) 1B1B w/study 1B 1B 1B w/loft 1B1B w/study 2B2B (E) 2B2B (F) 2B2B (G) 2B2B (H) 2B2B 2B w/study 2B2B TH 2B2B TH 3B2B 3B2B

SIZE

Brookside Village

PSF

PRICE

SIZE

850 975

Carriage Place

PSF

812 815

1.05 1.20

PRICE

SIZE

1030 1065

Coyote Ranch PSF

776 785

1.33 1.36

PRICE

SIZE

855 955

Windsor at Meridian PSF

779 853

1.10 1.12

PRICE

SIZE

Pinnacle @ the Creek

PSF

PRICE

SIZE

PSF

830 895

704 808

1.18 1.11

640 645

627 701

1.02 0.92

620 660

685 705

0.91 0.94

935

910

1.03

740

811

0.91

730

760

0.96

835 1110

956 1044

0.87 1.06

910

1051

930

1120

0.87 0.83

1,130

977

1.16

1140

1130

1.01

1265

1141

1.11

1160

1105

1.05

1,150 1,150

1030 1030

1.12 1.12

1155

1144

1.01

1460

1237

1.18

1250

1192

1.05

1440 1030

1196 1180

1.20 0.87

1,235

1140

1.08

1600

1485

1.08

1265 1645

1141 1414

1.11 1.16

1350

1398

0.97

1510

1330

1.14

% occ /leased 87% 92% Avg PSF 1.11 Avg Rents $1,046 Units(Total / Avail) 342 34 Rates Special: 1-4 months off selected units. reflect these rates: $625 1/1 $725 2/2 $985 3/2 specials:

94% $1,144 304

94% 1.07

9

Special: 1-3 months off selected units.

$900-1/1 $990-2/2 $1650-3/2

94% $1,288 331

92% 1.21

11

Special: 1 to 2 months off market.

$797-1/1 $1011-2/2 $77 off 1/1 $353 off 2/2

93% $1,114 507

93% 1.06

26

Special: 1-4 months off market.

$680-1/1 $815-2/2 $1225-3/2

0% 0% 1.00 $994 653 Special: Unknown $685 1/1 $805 2/2 $1310 3/2 special were pulled off the internet

995

1230

0.81

87% 88% 0.88 $808 216 32 Special: No specials $670-1/1 $765-2/2 $1022-3/2

due to property will not give info.

Greenbriar@Saddle Rock PRICE

SIZE

785 880

PSF

707 853

Dove Valley PRICE

1.11 1.03

SIZE

795 825

Cherrywood Village SIZE PSF

PSF

768 842

Ren: Free carpet cleans with renewal. Ren.: Corporate sets all renewal prices.

Ren.: Increase +25 to +50 Ren: Info not avail per corporate

Ren:Per corporate

707

795

763

1.04

995

1037

0.96

1195

1257

1033

1.04

1040

1115

0.93

1110

1033

1.07

1093

1.09

1090

12220

0.09

1190

1093

1.09

1.15

1270

1356

0.94

1375

1235

1.11

1235

93% $1,072 292

94% 1.09

18

Special: $300 off 1st mo rent

$585-1/1 $850-2/2 $1275-3/2 $150-$200 off 1/1

96% $1,004 312

95% 0.79

17

Special:1-3 Months free off of Market

Ren: $20 to $40 icrease pending month renewal

$650-1/1 $860-2/2 $1050-3/2

90% $1,131 360

41

PRICE

1.20

1075

$200-$225 off 2/2 $300 off 3/2

Ren: $25 to $50 increase

850

1195

1425

Reserve@South Creek SIZE PSF

PRICE

1.04 0.98

93% 1.12

93% $995 168

0

Special: 3 Months off of market

0.95

97% 0.98

11

Special: Look and lease is $125 off select units.

$626 1/1 $800 2/2 $1275 3/2

$750 2/2 $925 3/2

Look and lease $250 off 1st full month Ren: $80 increas for 13 month lease

Ren: Average $15 to $20 increase.

Ren: Increase is $10-$25

Related Documents

Courtney Downs Feb 06
December 2019 16
Courtney Downs June 06
December 2019 27
Courtney Downs March 06
December 2019 22
Courtney Downs September 06
December 2019 19
Courtney Downs Jan 06
December 2019 12
Courtney Downs July 06
December 2019 16

More Documents from "Marcy"

October 07 Rent Roll
December 2019 13
Usa Courtney Downs June 2007
December 2019 11
Courtney Downs September 06
December 2019 19
Courtney Downs August 2006
December 2019 13
Courtney Downs Feb 06
December 2019 16