Courtney Downs September 06

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USA Courtney Downs LeaseCo, LLC Balance Sheet Books = Accrual Sep 2006

ASSETS Cash Operating Cash Security Deposits Total Cash

OTHER ASSETS Accounts Receivable Prepaid Expenses Tax Escrow Cash in Bank-Wrk Cap Reserve Capital / Repair Escrow Total Other Assets Total ASSETS

77,763.20 71,375.06 $149,138.26

6,391.24 20,000.41 181,354.81 74,813.44 200,000.00 482,559.90 631,698.16

LIABILITIES & CAPITAL LIABILITIES Accounts Payable - Trade Other Accounts Payable Accrued Taxes Prepaid Rent Security Deposits Notes Payable Total Liabilities

34,242.26 556,921.77 247,587.02 6,670.61 69,295.06 (328.39) 914,388.33

CAPITAL Owners Equity Retained Earnings Total Capital Total LIABILITIES & CAPITAL

100.00 (282,790.17) (282,690.17) 631,698.16

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 Actual

Apr 2006 Actual

May 2006 Actual

Jun 2006 Actual

Jul 2006 Actual

Aug 2006 Actual

Sep 2006 Actual

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

353,425 (32,721) (83,632) (13,129) 223,943

356,370 (25,521) (87,552) (3,761) 239,537

356,790 (27,566) (89,252) (3,761) 236,211

352,042 (20,448) (91,481) (3,761) 236,353

356,753 (24,375) (83,568) (8,525) 240,285

356,720 (29,656) (82,402) (4,902) 239,760

356,720 (19,795) (79,734) (6,891) 250,300

364,160 (36,416) (80,000) (6,085) 241,659

364,160 (40,058) (75,000) (6,085) 243,017

364,160 (40,058) (75,000) (6,085) 243,017

4,294,502 (388,576) (991,681) (72,997) 2,841,248

12,557.02 (1,136.19) (2,899.65) (213.44) 8,307.74

13.69 (1.24) (3.16) (0.23) 9.05

Other Income Total Revenue

26,619 246,945

19,852 246,692

32,398 256,342

25,588 265,125

26,964 263,175

20,730 257,083

20,479 260,764

29,442 269,202

23,112 273,411

20,445 262,104

20,445 263,462

20,445 263,462

286,518 3,127,766

837.77 9,145.51

0.91 9.97

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

25,751 4,155 8,790 6,877 2,996 750 20,876 5,261 (2,311) 33,892

34,224 2,418 12,875 3,034 938 1,089 15,092 9,118 0 33,962

28,896 3,488 9,217 6,347 1,390 7,856 17,309 8,907 (26) 41,050

30,735 1,785 4,566 6,868 2,786 6,550 15,941 9,673 0 36,561

32,813 4,044 9,311 4,319 4,753 3,601 18,145 13,946 0 34,740

30,497 1,759 9,128 6,576 1,299 3,942 18,942 10,892 0 35,107

25,074 2,987 5,468 2,661 933 6,370 16,905 14,755 0 33,746

24,299 3,030 6,385 7,900 13,595 4,640 15,084 16,590 0 37,237

24,299 3,030 5,860 7,500 2,295 4,640 15,469 10,900 0 37,237

37,759 3,030 6,885 7,500 2,295 2,395 14,969 10,900 0 37,237

353,440 35,680 96,524 63,875 36,112 42,018 198,525 139,730 0 434,826

1,033.45 104.33 282.23 186.77 105.59 122.86 580.48 408.57 0.00 1,271.42

1.13 0.11 0.31 0.20 0.12 0.13 0.63 0.45 0.00 1.39

Total Operating Exp. Net Operating Income

119,755 127,190

105,619 141,073

107,036 149,305

112,750 152,375

124,435 138,740

115,464 141,618

125,672 135,092

118,141 151,061

108,899 164,512

128,760 133,345

111,230 152,233

122,970 140,493

1,400,730 1,727,036

4,095.70 5,049.81

4.46 5.50

Rent Expense Partnership Expense Capital Expense

193,253 1,511 3,871

193,253 40 (782)

193,253 324 8,204

193,253 595 6,055

193,253 169 3,698

193,253 0 14,150

193,253 0 7,730

193,253 0 3,637

193,253 1,128 2,383

193,254 0 6,600

193,254 0 3,300

193,254 0 3,300

2,319,042 3,767 62,145

6,780.82 11.01 181.71

7.39 0.01 0.20

Cash Flow Frm Operations

(71,445)

(51,438)

(52,476)

(47,528)

(58,381)

(65,785)

(65,891)

(45,830)

(32,251)

(66,510)

(44,322)

(56,062)

(657,918)

(1,923.74)

(2.10)

66,280

58,055

58,308

42,302

0

0

0

55,178

45,798

41,589

52,896

54,539

474,945

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)

(4,698) (590) 86 (34,325)

2,407 4,549 156 (34,325)

6,708 (4,100) 1,384 324,584

2,152 (8,512) 280 (30,394)

4,182 14,748 7,106 (30,394)

3,545 (1,503) 15,908 (30,394)

(771) 626 6,446 (30,394)

0 0 (23,201) (2,951)

0 0 0 (2,951)

0 0 0 (2,951)

12,089 13,950 8,262 56,856

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)

(39,527)

(27,213)

328,577

(36,473)

(4,358)

(12,444)

(24,092)

(26,152)

(2,951)

(2,951)

91,156

Accounts Payable Accrued Expenses Other Payables Notess Payable

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

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

22,679 26,292 1,789 (382)

5,948 32,763 (2,315) (382)

(1,420) (282,521) (5,212) (382)

65,950 115,337 (3,153) (701)

8,685 25,645 (2,593) (382)

30,415 23,477 (5,234) 0

(53,751) 32,478 (2,080) (391)

(34,000) 0 0 0

0 0 0 0

0 0 0 0

43,844 25,451 (10,951) (3,382)

Cash Increase (Decreae) From Liab.

30,890

27,511

50,377

36,014

(289,534)

177,433

31,355

48,658

(23,744)

(34,000)

0

0

54,962

NET CASH FLOW CUMM. NET CASH FLOW

2,236 29,014

(3,642) 25,372

16,682 42,054

3,574 45,628

(19,338) 26,290

75,176 101,466

(38,893) 62,573

45,563 108,136

(34,289) 73,846

(85,073) (11,227)

5,624 (5,603)

(4,473) (10,077)

(36,855)

$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

K30:

administrator: assume insurance increases by 50%

L30:

administrator: assume insurance increases by 50%

M30:

administrator: assume insurance increases by 50%

K46:

administrator: insurance downpayment

K47:

administrator:

L47:

administrator:

M47:

administrator:

replacement reserve + reduction in tax escrow due to overage replacement reserve + reduction in tax escrow due to overage replacement reserve + reduction in tax escrow due to overage

USA Courtney Downs LeaseCo, LLC Budget Comparison Books = Accrual For the period ending September 30, 2006 MTD Actual

MTD Budget

355,720.00 1,000.00

360,554.00 0.00

356,720.00 0.00 0.00 (19,795.25)

360,554.00 0.00 0.00 (32,450.00)

(108.55)

(2,000.00)

Corporate Discount Delinquent Rent Adjustments & W/O

0.00 0.00 (2,420.00)

0.00 0.00 (500.00)

Model Units Courtesy Officer Apt.

(1,980.00) 0.00

(1,980.00) (575.00)

(1,780.80) 0.00 (710.00) (79,625.52)

(1,900.00) 0.00 (1,130.00) (85,029.00)

0.00 0.00 0.00 0.00 $250,299.88

0.00 0.00 0.00 0.00 $234,990.00

Laundry Income Vending Income Covered Parking Income Late Charges & NSF Fees Month to Month Premium Storage Fees

0.00 0.00 0.00 2,498.00 155.00 674.23

0.00 68.00 0.00 2,300.00 300.00 1,300.00

Repair & Maintenance Fees Application Fees

0.00 1,795.00

0.00 1,000.00

397.67

1,033.00

Miscellaneous Income Renters Insurance Interest Income Pet Rents & Fees

612.50 0.00 0.00 2,704.66

500.00 0.00 0.00 900.00

Tower Rent Asset Management Fee Parking Spaces Income Homeowners Assessments Garage Income

0.00 0.00 0.00 0.00 6,595.50

0.00 0.00 0.00 0.00 8,700.00

Water/Sewer Income Cable/Telephone Income HOA Contributions Developer Developer HOA Dues Forfeited Deposits Developer Contributions Interest Income Other Thunder Income Administration Fee

0.00 1,183.00 0.00 0.00 150.00 0.00 0.00 0.00 3,000.00

0.00 1,000.00 0.00 0.00 190.00 0.00 0.00 0.00 2,000.00

Move-Out Charges

2,880.95

929.00

465.00 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 23,111.51

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

$273,411.39

$255,435.00

8,148.93

9,545.00

0.00

0.00

Account Revenue Market Rent Loss / Gain to Lease

Gross Potential Rent Prepaid Homeowners Dues Residential Rent Vacancy Loss

Upfront Rent Concessions

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

Termination Fees & Damages

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

$ Variance MTD Variance Comment (4,834.00) 1,000.00 Variance reflects residents booked at less than market rate. Was not budgeted but included in gross potential. (3,834.00) 0.00 0.00 12,654.75 Positive variance due to actual occupancy of 94% verses 92% budgeted. 1,891.45 Positive variance due to cutting back on upfront concessions. 0.00 0.00 (1,920.00) Additional write-offs due to 2-skips. 0.00 575.00 Savings due to termination of position. 119.20 0.00 420.00 5,403.48 We have been able to reduce the amount of concessions given. 0.00 0.00 0.00 0.00 $15,309.88 0.00 (68.00) 0.00 198.00 (145.00) (625.77) Residents at the end of the month have turned in storage units and have not had any new rents on them. 0.00 795.00 Variance due to 22 move in's and budgeted for 20. (635.33) Residents not paying at the time of move-out, however, they have been turned over to the collection agency. 112.50 0.00 0.00 1,804.66 Collections from new residents pet fees and pet rent per month. 0.00 0.00 0.00 0.00 (2,104.50) Garage occupancy is 93% and some were given away free as move in incentives. 0.00 183.00 0.00 0.00 (40.00) 0.00 0.00 0.00 1,000.00 Variance due to 22 move in's and budgeted for 20. 1,951.95 Aggressive collections of damages and fees from move-outs of past residents. 240.00 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 2,666.51 $17,976.39

1,396.07 Using temp service to select new employee. 0.00

YTD Actual

YTD Budget

$ Variance

Annual Budget

3,201,480.00 560.00

3,210,054.00 0.00

(8,574.00) 560.00

4,302,534.00 0.00

YTD Variance Comment

Filter 0.01 7,127,808.00 1,560.00

3,202,040.00 0.00 (18.00) (272,043.72)

3,210,054.00 0.00 0.00 (273,858.00)

(8,014.00) 0.00 (18.00) 1,814.28

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

7,129,368.00 0.00 (18.00) (598,146.97)

(106,016.58)

(18,000.00)

(88,016.58)

(24,000.00)

(126,125.13)

0.00 0.00 (18,460.10)

0.00 0.00 (4,500.00)

0.00 0.00 (13,960.10)

0.00 0.00 (6,000.00)

0.00 0.00 (25,880.10)

(17,820.00) (1,725.00)

(17,820.00) (5,175.00)

0.00 3,450.00

(23,760.00) (6,900.00)

(39,600.00) (7,475.00)

(16,027.20) 0.00 (710.00) (655,664.17)

(17,100.00) 0.00 (10,170.00) (767,814.00)

1,072.80 0.00 9,460.00 112,149.83

(22,800.00) 0.00 (13,560.00) (1,019,064.00)

(36,808.00) 0.00 (12,720.00) (1,588,132.69)

0.00 0.00 0.00 0.00 $2,113,555.23

0.00 0.00 0.00 0.00 $2,095,617.00

0.00 0.00 0.00 0.00 $17,938.23

0.00 0.00 0.00 0.00 $2,796,060.00

0.00 221.20 0.00 16,174.45 1,512.23 7,894.58

0.00 612.00 0.00 20,700.00 2,700.00 11,700.00

0.00 (390.80) 0.00 (4,525.55) (1,187.77) (3,805.42)

0.00 816.00 0.00 27,600.00 3,600.00 15,600.00

0.00 0.00 0.00 0.00 4,694,462.11 1.00 0.00 901.20 0.00 41,672.45 4,667.23 21,568.81

0.00 10,770.00

0.00 9,000.00

0.00 1,770.00

0.00 12,000.00

0.00 22,565.00

18,795.53

9,297.00

9,498.53

12,396.00

29,523.20

10,439.37 0.00 0.00 22,092.07

4,500.00 0.00 0.00 8,100.00

5,939.37 0.00 0.00 13,992.07

6,000.00 0.00 0.00 10,800.00

16,051.87 0.00 0.00 33,796.73

0.00 0.00 0.00 0.00 58,862.38

0.00 0.00 0.00 0.00 78,300.00

0.00 0.00 0.00 0.00 (19,437.62)

0.00 0.00 0.00 0.00 104,400.00

0.00 0.00 0.00 0.00 152,457.88

0.00 9,247.80 0.00 0.00 805.48 0.00 0.00 0.00 29,115.00

0.00 9,000.00 0.00 0.00 1,710.00 0.00 0.00 0.00 18,000.00

0.00 247.80 0.00 0.00 (904.52) 0.00 0.00 0.00 11,115.00

0.00 12,000.00 0.00 0.00 2,280.00 0.00 0.00 0.00 24,000.00

0.00 20,430.80 0.00 0.00 2,855.48 0.00 0.00 0.00 52,115.00

36,651.20

8,361.00

28,290.20

11,148.00

48,822.15

2,601.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 225,182.83

2,025.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 184,005.00

576.54 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 41,177.83

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

$2,338,738.06

$2,279,622.00

$59,116.06

$3,041,400.00

77,915.67

90,676.00

12,760.33

124,082.00

5,316.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 452,744.34 1.00 5,147,206.45 1.00 1.00 186,285.60

0.00

0.00

0.00

0.00

0.00

Maintenance Salary

9,518.24

6,660.00

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

0.00 1,170.70 1,488.70 1,396.50 0.00 0.00 1,745.37

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

1,605.66 25,074.10

1,576.00 24,299.00

346.30 733.47 0.00 83.78 0.00 0.00 269.00 0.00 127.87 0.00 0.00 0.00 823.79 602.91

600.00 1,080.00 100.00 200.00 0.00 0.00 0.00 0.00 100.00 0.00 200.00 0.00 750.00 0.00

0.00 2,987.12

0.00 3,030.00

Advertising & Promotions

1,459.00

3,452.00

Resident Promotions Locators Resident Referrals

123.51 885.16 3,000.00

475.00 1,033.00 900.00

5,467.67

5,860.00

22.32

2,900.00

Contract Cleaning Svcs.

1,255.00

2,500.00

Carpet Cleaning & Repairs Window Coverings Vinyl & Tile Repairs

1,035.00 312.66 0.00

1,500.00 200.00 500.00

Lock & Keys Counter & Tub Resurfacing Other Redecorating Cleaning Supplies Total Make Ready Expense

0.00 0.00 0.00 36.10 2,661.08

100.00 100.00 100.00 300.00 8,200.00

2,877.68 Maintenance staff doing all paints in house instead of contracting outside vendors. 1,245.00 Only had 6 cleans due to other apts were ready from last month. 465.00 (112.66) 500.00 Did not need to replace any at this time. 100.00 100.00 100.00 263.90 5,538.92

198.11 247.83 0.00 0.00 0.00 161.39 0.00 0.00 125.89 0.00 0.00 0.00 0.00 199.87 0.00 0.00 0.00 933.09

750.00 150.00 75.00 150.00 100.00 400.00 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

5,744.98 539.77 85.56 0.00 0.00 0.00 0.00 0.00 6,370.31

Workers Comp Total Salary Expense Office Operations & Supplies Telephones Answering Svc. & Pagers Postage & Delivery Patrol Services Membership Dues Publications & Subscriptions Conventions/Seminars Employee Training Furniture Rental Car Expenses Permits & Fees Credit Checks Guest Suite Expense Parking Cost Total Operating Expense

Total Advertising Expense Paint & Drywall

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

(2,858.24) Additional porter position added but was not budgeted for, this is offset in make ready expense. 0.00 2,329.30 87.30 45.50 0.00 0.00 (1,745.37) Temporary office help needed to assist in the office. (29.66) (775.10)

92,373.97

63,271.00

(29,102.97)

86,582.00

171,823.21

0.00 29,899.50 16,034.93 13,395.00 0.00 0.00 18,221.72

0.00 28,000.00 14,553.00 12,978.00 0.00 0.00 0.00

0.00 (1,899.50) (1,481.93) (417.00) 0.00 0.00 (18,221.72)

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

0.00 62,570.20 33,652.63 29,211.50 0.00 0.00 19,967.09

19,242.01 267,082.80

14,553.00 224,031.00

(4,689.01) (43,051.80)

20,210.00 310,388.00

8,057.26 8,152.10 749.57 1,467.93 0.00 0.00 534.75 0.00 918.82 0.00 76.72 0.00 3,810.90 2,822.32

5,400.00 9,720.00 900.00 1,800.00 0.00 0.00 1,645.00 0.00 1,900.00 0.00 1,800.00 0.00 6,750.00 0.00

(2,657.26) 1,567.90 150.43 332.07 0.00 0.00 1,110.25 0.00 981.18 0.00 1,723.28 0.00 2,939.10 (2,822.32)

7,200.00 12,960.00 1,200.00 2,400.00 0.00 0.00 1,645.00 0.00 2,200.00 0.00 2,400.00 0.00 9,000.00 0.00

36,976.67 540,486.90 1.00 14,403.56 19,685.57 1,749.57 3,551.71 0.00 0.00 2,448.75 0.00 3,046.69 0.00 2,076.72 0.00 12,134.69 3,425.23

0.00 26,590.37

0.00 29,915.00

0.00 3,324.63

0.00 39,005.00

41,018.74

32,053.00

(8,965.74)

42,409.00

0.00 62,522.49 1.00 77,982.74

5,904.71 14,470.41 16,000.00

7,325.00 9,297.00 8,100.00

1,420.29 (5,173.41) (7,900.00)

10,300.00 12,396.00 10,800.00

13,828.22 25,685.57 28,000.00

77,393.86

56,775.00

(20,618.86)

75,905.00

3,851.51

25,300.00

21,448.49

33,200.00

145,496.53 1.00 32,073.83

19,160.00

25,000.00

5,840.00

32,500.00

47,915.00

14,287.13 1,385.38 0.00

12,300.00 1,800.00 4,500.00

(1,987.13) 414.62 4,500.00

15,900.00 2,400.00 6,000.00

29,122.13 3,698.04 5,000.00

377.99 941.46 218.86 752.88 40,975.21

900.00 900.00 900.00 2,700.00 74,300.00

522.01 (41.46) 681.14 1,947.12 33,324.79

1,200.00 1,200.00 1,200.00 3,600.00 97,200.00

551.89 (97.83) 75.00 150.00 100.00 238.61 0.00 50.00 (50.89) 150.00 100.00 0.00 0.00 95.13 0.00 0.00 0.00 1,361.91

5,540.68 562.50 1,208.80 1,155.89 0.00 3,761.81 0.00 1,418.51 1,539.20 548.35 90.11 547.85 0.00 1,553.18 0.00 0.00 0.00 17,926.88

6,950.00 1,350.00 675.00 1,350.00 900.00 4,600.00 0.00 450.00 675.00 1,350.00 900.00 2,100.00 0.00 2,655.00 0.00 0.00 0.00 23,955.00

1,409.32 787.50 (533.80) 194.11 900.00 838.19 0.00 (968.51) (864.20) 801.65 809.89 1,552.15 0.00 1,101.82 0.00 0.00 0.00 6,028.12

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

5,745.00 775.00 75.00 0.00 0.00 0.00 45.00 0.00 6,640.00

0.02 235.23 (10.56) 0.00 0.00 0.00 45.00 0.00 269.69

25,599.91 4,579.41 685.56 0.00 0.00 0.00 0.00 (522.13) 30,342.75

26,715.00 7,725.00 675.00 0.00 0.00 0.00 405.00 4,500.00 40,020.00

1,115.09 3,145.59 (10.56) 0.00 0.00 0.00 405.00 5,022.13 9,677.25

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

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

11,355.17

10,217.00

96,468.67

91,186.00

(5,282.67)

121,658.00

1,377.99 1,941.46 1,218.86 3,788.98 126,136.29 1.00 13,438.79 2,310.33 1,958.80 2,655.89 1,000.00 8,923.20 0.00 1,918.51 2,415.09 2,048.35 1,090.11 2,647.85 0.00 4,703.05 0.00 0.00 0.00 45,109.97 1.00 63,804.89 13,619.18 1,521.12 0.00 0.00 0.00 450.00 3,977.87 83,373.06 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 209,226.84

1,000.00 3,250.00 1,300.00

1,000.00 3,250.00 550.00

9,000.00 29,250.00 11,667.70

9,000.00 29,250.00 4,950.00

0.00 0.00 (6,717.70)

12,000.00 39,000.00 6,600.00

20,000.00 65,000.00 18,467.70

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 50.00

0.00 0.00 (104.00) 0.00 0.00 825.49 1,958.87

0.00 0.00 0.00 0.00 0.00 500.00 2,450.00

0.00 0.00 104.00 0.00 0.00 (325.49) 491.13

0.00 0.00 0.00 0.00 0.00 1,000.00 2,600.00

0.00 0.00 (104.00) 0.00 0.00 1,325.49 4,458.87

253.70 346.53 100.00 116.22 0.00 0.00 (269.00) 0.00 (27.87) 0.00 200.00 0.00 (73.79) (602.91) Guest suite set up by Creekstone, not budgeted for. 0.00 42.88 1,993.00 For Rent ad not budgeted. 351.49 147.84 (2,100.00) Budgeted for 2 resident referrals and booked 6. 392.33

(1,138.17) Based on gross collections. 0.00 0.00 (750.00) Budgeted for 4 eviction cost and booked 9. 0.00 0.00 0.00 0.00 0.00 0.00 50.00

Printing Computer Consulting Computer Expense Bank Charges Development Cost Total Admin. Expense Electricity Electricity Gas - Resident Natural Gas

Water & Sewer

0.00 0.00 0.00 0.00 0.00 16,905.17

0.00 0.00 0.00 0.00 0.00 15,067.00

2,882.79 0.00 3,312.08

2,800.00 0.00 2,160.00

(82.79) 0.00 (1,152.08) More gas needed earlier in the season to heat the pool than predicted. 1,091.55 Based on billing from Arapahoe County. 2,071.96 Based on billing from Arapahoe County. (1,398.70) Based on billing from Arapahoe County. 0.00 (139.76) 0.00 1,103.16 Less vacants and controlling use of A/C by staff and vendors during the make ready process.

8,408.45

9,500.00

(6,071.96)

(4,000.00)

7,688.70

6,290.00

0.00 (2,060.24) 0.00 596.84

0.00 (2,200.00) 0.00 1,700.00

(1.94) 0.00 14,754.72

405.00 0.00 16,655.00

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

Property Taxes Franchise Tax Insurance Tax Consultants MIP Total Taxes & Insurance Total Operating Expenses NET OPERATING INCOME Base Rent Stated Rent Office Rent Total Rent Expense

0.00 0.00 0.00 0.00 0.00 (1,838.17)

0.00 0.00 3,936.30 0.00 0.00 153,003.03

0.00 0.00 1,400.00 0.00 0.00 138,736.00

0.00 0.00 (2,536.30) 0.00 0.00 (14,267.03)

0.00 0.00 1,400.00 0.00 0.00 184,258.00

30,042.54 0.00 22,441.11

25,200.00 0.00 24,420.00

(4,842.54) 0.00 1,978.89

33,600.00 0.00 35,120.00

0.00 0.00 5,336.30 0.00 0.00 323,711.20 1.00 60,925.33 0.00 52,333.19

80,685.03

82,500.00

1,814.97

106,000.00

181,093.48

(42,429.68)

(38,500.00)

3,929.68

(50,500.00)

(91,001.64)

15,269.24

34,550.00

19,280.76

40,840.00

63,797.94

0.00 (18,103.60) 0.00 8,315.99

0.00 (19,800.00) 0.00 15,300.00

0.00 (1,696.40) 0.00 6,984.01

0.00 (26,400.00) 0.00 20,400.00

0.00 (42,163.84) 0.00 25,912.83

406.94 0.00 1,900.28

5,119.60 0.00 101,340.23

6,820.00 0.00 130,490.00

1,700.40 0.00 29,149.77

9,820.00 0.00 168,880.00

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 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

27,619.00 0.00 6,126.87 0.00 0.00 33,745.87 108,899.13 164,512.26

27,200.00 0.00 6,691.00 0.00 0.00 33,891.00 115,937.00 139,498.00

(419.00) 0.00 564.13 0.00 0.00 145.13 7,037.87 25,014.26

259,740.26 0.00 62,676.47 700.00 0.00 323,116.73 1,037,771.86 1,300,966.20

244,800.00 0.00 60,219.00 0.00 0.00 305,019.00 1,023,241.00 1,256,381.00

(14,940.26) 0.00 (2,457.47) (700.00) 0.00 (18,097.73) (14,530.86) 44,585.20

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

106,586.67 86,666.67 0.00 193,253.34

106,587.00 86,667.00 0.00 193,254.00

0.33 0.33 0.00 0.66

959,280.03 780,000.03 0.00 1,739,280.06

959,283.00 780,003.00 0.00 1,739,286.00

2.97 2.97 0.00 5.94

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 0.00 0.00 0.00

0.00 750.00 349.67 27.87 0.00 0.00 0.00 0.00 0.00 1,127.54

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 (750.00) (349.67) (27.87) 0.00 0.00 0.00 0.00 0.00 (1,127.54)

1,510.50 1,514.30 655.29 86.91 0.00 0.00 0.00 0.00 0.00 3,767.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,510.50) (1,514.30) (655.29) (86.91) 0.00 0.00 0.00 0.00 0.00 (3,767.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Exterior Rehab Interior Rehab HVAC Replacement Carpet & Floor Replacement

0.00 0.00 0.00 2,382.61

0.00 0.00 0.00 6,600.00

0.00 0.00 0.00 44,049.78

0.00 3,000.00 0.00 50,600.00

0.00 3,000.00 0.00 6,550.22

0.00 3,000.00 0.00 63,800.00

24,270.00 0.00 263,239.95 1.00 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 0.00 559,359.26 0.00 135,713.34 700.00 0.00 695,772.60 2,285,848.99 2,861,357.46 1.00 2,131,736.70 1,733,336.70 0.00 3,865,073.40 1.00 0.00 0.00 0.00 0.00 0.00 0.00 1,510.50 2,264.30 1,004.96 114.78 0.00 0.00 0.00 0.00 0.00 4,894.54 1.00 0.00 3,000.00 0.00 103,632.39

Refrigerators Dishwashers & Ranges Washers / Dryers Fire Alarm Replacement Other Capital Improvements Boiler Replacement Roof Replacement Total Capital Expenses

0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,382.61

0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,600.00

0.00 0.00 236.72 4,658.23 0.00 0.00 0.00 48,944.73

0.00 0.00 0.00 0.00 0.00 0.00 0.00 53,600.00

0.00 0.00 (236.72) (4,658.23) 0.00 0.00 0.00 4,655.27

0.00 0.00 0.00 0.00 0.00 0.00 0.00 66,800.00

0.00 0.00 0.00 (32,251.23)

0.00 0.00 0.00 (60,356.00)

0.00 0.00 0.00 28,104.77

0.00 0.00 0.00 (491,025.59)

0.00 0.00 0.00 (536,505.00)

0.00 0.00 0.00 45,479.41

0.00 0.00 0.00 (720,611.00)

45,798.43 13,547.20

0.00 (60,356.00)

45,798.43 73,903.20

325,920.91 (165,104.68)

124,335.14 (412,169.86)

201,585.77 247,065.18

124,335.14 (596,275.86)

Water & Sewer - Resident Reimb Water - irrigation Electric - Tenant Reimbursement Trash Reimbursement Water - Tenant Reimbursement Utility -Vacant Electric

Utility - Vacant Gas Tenant Reimbursement - Gas Total Utility Expense Management Fees Management Fees-MRLL Property Legal Fees 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

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

Casualty Losses Casualty Recovery Total Casualty Loss NET INCOME (LOSS) Rental Guarantee

0.00 0.00 0.00 4,217.39 Replaced only 3 carpets instead of the anticipated 6. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,217.39

0.00 0.00 236.72 4,658.23 0.00 0.00 0.00 111,527.34 1.00 0.00 0.00 0.00 (1,120,137.82) 1.00 496,054.48 1.00

Courtney Downs Apartments Sep-06 LEASING & OCCUPANCY NUMBER OF MOVE INS: NUMBER OF MOVE OUTS: NET FOR THE MONTH:

22 11 11

OCCUPIED/LEASED %:

93.3% 89.5%

SOURCE OF TRAFFIC:

$273,411.00 $269,201.00 4210

TOTAL # GARAGES # GARAGES OCCUPIED GARAGES OCCUPIED %

120 115 96%

REASONS WHY PROSPECTS DID NOT LEASE: Traffic 0 15 0 2 5 2 42 12 5 0 0 11 6

Leased 0 3 0 0 0 0 11 5 0 0 0 3 0

TOTALS

100

22

CLOSING RATIO:

33%

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

INCOME THIS MONTH: INCOME LAST MONTH: DIFFERENCE:

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

Job Transfer Too expensive. 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

11 19 0 24 0 0 1 0 11 0 0 6 6 0 78

MARKETING ACTIVITIES & SOURCES FOR THE MONTH * Dropped off muffins and brochures with David Weekly Homes sales team with options for temporary housing for new home buyers. * Dropped off brochures to 24 Hour fitness team for employee break room and locker rooms. * Dropped off doughnuts and brochures to Arapahoe Medical building. * Took locators lunch and new prices for the month. * Updated all internet ads with new pricing. * Brochures where taken to Human Resources at Albertsons Supermarket. * Met with Richmond sales team with options of temporary housing for new home buyers. * Dropped off cookie basket and brochures and price sheets with Human Resources at First Data Corporation.

OVERVIEW OF COMPARABLE PROPERTIES: The surrounding comps are still offering specials of one to two months free on selected units. This translates into one bedroom effective rents of $575, two bedrooms at $715 and three bedrooms starting at $985. Look and leases are being locked in with $500.00 off move in and pro rated concessions on a 12 month lease with some of our competitors. RESIDENT RETENTION: We had 55 leases expiring in September. Due to the high number of expirations for the month of September we did no increases for the month of September if you signed by the 22nd of the month. We had 30 renew for the month averaging $9.83 per renewal. Notices to vacates are as follows 17 moved out due to buying houses/town homes, 4 moved closer to work and 4 moved out of state. INCIDENTS ON THE PROPERTY: N/A

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

ROUTINE REPLACEMENTS:

Completed 23 15 19 12 63 3 12 0 147

PLUMBING LEAKS

Number of: 19 8 11 147 0 23 15 19 12 63 3 12 0 147 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

CAPITAL IMPROVEMENTS IN PROGRESS: N/A

PROBLEM AREAS NEEDING ATTENTION: Building #11 still in process of repair, waiting for final inspection from Fire Department to clear the Fire room.

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

Nancy Howland Wendy Gillan Carrie McMillan Jessica Branch Gabriel Tellez Russell Briley Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH: N/A

Number Replaced 0 1 0 0 0 0 0 0 0 5 0 0 0 0 0 13 0 0

Apt. # 10302

19111, 4102, 6306, 10310, 4206.

19304-2, 2302-1, 4102-2, 4205-1, 16205-1, 7202-2, 10112-2, 122111, 7306-1.

Courtney Downs RENTAL SCHEDULE

September 2006

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 $4,285,800

EFFECTIVE CONCESSION RENTS* 690.00 690.00 690.00 830.00 830.00 830.00 830.00 830.00 830.00 830.00 830.00 1,145.00 1,145.00

CONCESSION PER UNIT 140.00 55.00 245.00 65.00 95.00 300.00 320.00 350.00 320.00 320.00 350.00 100.00 110.00

$845 * Net of Concessions

$213

EFFECTIVE PER S/F

0.98 1.10 0.76 1.03 1.03 0.85 0.81 0.81 0.85 0.81 0.81 1.00 1.00 0.92

EFFECTIVE MONTHLY GROSS $27,600 $31,000 $12,420 $19,920 $26,560 $34,860 $36,520 $18,260 $19,920 $13,280 $16,600 $27,480 $4,580 $289,000

Vacants

Vacants Leased

Notice

Notice Leased

Net Available

9 2 1 9 0 11 4 0 0 0 0 3 0

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

8 1 1 4 0 5 2 0 0 0 0 1 0

3 0 1 1 0 0 1 0 0 0 0 1 0

0 2 5 12 0 13 7 0 0 5 0 3 0

39

3

22

7

47

MARKET SURVEY Courtney Downs September-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

Coyote Ranch

15849 E. Jamison Dr16363 E Freemont Ave 720-870-6114 303-693-8787 Englewood, Co Aurora, Co 342 507 4 4 $50.00 $35.00 yes yes yes yes 300 n/r 350-600 150 275-325 Yes yes no yes Detached yes Yes yes no no 1 1 yes yes yes 1 yes yes yes yes yes yes yes yes yes yes yes no no yes Prewired no no no no no no yes yes yes no no yes no

Windsor @ Meridian

Pinnacle @ the Creek

Dove Valley

9875 Jefferson Pkwy 303-256-7700 Englewood, Co 80112 653 7 $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

6107 S Parker Rd 303-766-2500 Centennial, Co 216 4 $35.00 yes yes $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

7550 S Blackhawk 303-362-2000 Englewood, Co 80112 312 5 $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 4 $35.00 yes yes 350-500 275-325 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 5 $40.00 yes yes 300 125-250 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 September-06

(Concessions reduced rates) PROPERTY:

Courtney Downs Apt 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

% occ /leased Avg PSF Avg Rents Units(Total / Avail)

SIZE

Coyote Ranch

PSF

PRICE

SIZE

705 760

Windsor at Meridian

PSF

779 853

PRICE

0.91 0.89

SIZE

Pinnacle @ the Creek

PSF

PRICE

SIZE

Dove Valley

PSF

PRICE

690 690

704 808

0.98 0.85

615 615

627 701

0.98 0.88

619 715

685 705

0.90 1.01

690

910

0.76

615

811

0.91

744

760

0.96

875 1110

956 1044

0.92 1.06

769

1051

1014

1120

0.73 0.91

830

977

0.85

770

1105

0.70

830 830

1030 1030

0.81 0.81

1020

1192

0.86

1440 1030

1196 1180

1.20 0.87

1,245

1140

1.09

1150

1398

0.82

1510

1330

1.14

0

0% 0.99

93 1 829 342

89.5

13

95% 0.88

96 1114 507

99

98% 0.83

11

994 653

1064

1230

94 808 216

96

19

Special: 1x1 690.00, 2x2 830.00, as well as price matching a few comps in the Special:waive security Rates area. Special: 1 to 2 months free Sepcial:None deposit reflect these rates: $685 1/1 $805 2/2 $1310 3/2 specials: special was pulled off the internet due to property will not give info.

Ren: $25 to $50 increase

Ren.: Increase $0 to $50.

Ren: Info not avail per corporate

Ren:Per corporate

0.87

94% 0.90

SIZE

710 750

PSF

PRICE

768 842

0.92 0.89

Cherrywood Village SIZE PSF

641

0.91

650

763

0.85

850

1037

0.82

950

1257

885

1115

0.79

763

1033

0.74

965

1220

0.79

1155

1093

1.06

1100

1356

0.81

1285

1235

1.04

96.5 882 312

95

93% 0.84

20

89.2 1131 360

93

24

Reserve@South Creek SIZE PSF

PRICE

707

94% 0.94 0

97.0 995 168

90

0.76

96% 0.81

14

Special:Up to $275.00 off per month depind on floor Special: 1 1/2 months to 3 plan. months free Special: 1 to 2 months free $626 1/1 $800 2/2 $1275 3/2

Ren: $40 increas for 12 month lease

Ren: Average $15 to $20 increase.

Ren: Free carpet cleaning with 12mo.

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