USA Courtney Downs Dec 2007
Transcript of USA Courtney Downs Dec 2007
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USA Courtney Downs LeaseCo, LLCBalance Sheet
Books = AccrualDec 2007
SETS
82,518.640.00
$82,518.64
vable 342.88
es 2,613.19255,613.86
eserves 48,427.04 Escrow 200,000.00
sets 506,996.97
589,515.61
S & CAPITAL
le - Trade 176,273.32
Payable 826,437.05362,261.61
20,048.63ts 38,506.72
2,052.901,425,580.23
100.00gs (836,164.62)
(836,064.62)
ES & CAPITAL 589,515.61
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USA Courtney Downs LeaseCo, LLCBudget Comparison
Books = AccrualFor the period ending December 31, 2007
MTD MTD YTD YTD
Actual Budget $ Variance MTD Variance Comment Actual Budget
294,410.00 347,440.00 (53,030.00) 3,554,650.00 4,209,210.00
4,439.00 0.00 4,439.00 340,691.00 0.00
298,849.00 347,440.00 (48,591.00) 3,895,341.00 4,209,210.00s 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00(11,315.35) (30,525.35) 19,210.00 (243,165.38) (325,479.64)
(6,526.71) (435.00) (6,091.71) (45,759.53) (59,160.00)
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00(8,250.48) (681.96) (7,568.52) (26,761.56) (7,841.82)
(1,980.00) (1,625.00) (355.00) Market rent higher than budgeted. (23,760.00) (19,500.00)
0.00 0.00 0.00 0.00 0.00(1,934.80) (2,050.00) 115.20 (21,844.60) (24,600.00)
nce Fe 0.00 0.00 0.00 0.00 0.00(1,160.00) (900.00) (260.00) (14,097.85) (10,800.00)
(12,998.29) (39,120.21) 26,121.92 (538,987.89) (632,942.99)
ncome 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
$254,683.37 $272,102.48 $(17,419.11) $2,980,964.19 $3,128,885.55
0.00 0.00 0.00 0.00 0.000.00 68.00 (68.00) 0.00 816.000.00 0.00 0.00 0.00 0.00
1,344.87 1,650.00 (305.13) 21,364.47 19,800.00
955.00 200.00 755.00 10,159.25 2,400.00
1,062.09 960.00 102.09 11,333.24 11,520.00
s 0.00 0.00 0.00 0.00 0.001,410.00 650.00 760.00 17,929.90 10,250.00
es 236.00 1,000.00 (764.00) 14,108.82 12,000.00
960.86 1,160.00 (199.14) 8,254.64 13,920.00
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 3,488.53 0.00
3,272.58 2,456.00 816.58 39,970.57 29,472.00
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 0.000.00 0.00 0.00 0.00 0.00
7,201.90 6,650.00 551.90 82,329.81 79,800.00
0.00 0.00 0.00 0.00 0.003,321.55 1,006.00 2,315.55 8,063.47 12,072.00
per 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
601.00 90.00 511.00 NR pet fees collected. 6,012.05 1,080.00
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 0.003,150.00 2,000.00 1,150.00 35,750.00 33,800.00
2,977.91 3,330.00 (352.09) Fewer charges required on move outs. 29,285.61 48,840.00
629.03 3 00.00 329.03 6,677.32 3,600.00
0.00 0.00 0.00 0.00 0.00
0.00 425.00 (425.00) No corporate units at this time. 475.41 5,100.00
0.00 (1,750.00) 1,750.00 0.00 (21,000.00)
0.00 0.00 0.00 0.00 0.00ns 0.00 0.00 0.00 0.00 0.00
Concessions are no longer beingoffered, market rents adjusted toreflect the lower rents.
Actual reflects variance in market rentsvs lease rents which includeconcessions.
Our vacancy was 5% higher thenbudgeted.
Includes up front concessions offeredas look and lease special to becompetetive with market. Two weeksto month free offered.
Loss is due to one skip who left owingrent and damages at move out.Includes late charges and concessionbill back.
We have been able to reduce theamount of concessions at turnover.We have also been renewing lease
with fewer concessions.
Collected fewer late fee this month dueto residents paying on time.
Five month to month fees collectedversus two budgeted.
28 applications fees collected versus19 budgeted.
Fewer term fees collected this month,adjusted two concession bill backs thatwere coded incorrectly.
Collected 21 utility transfer fees, and11 credit card convenience fees.
Collection of $20 pet rent, includesseveral NR pet fees.
Higher occupancy. Garage fee is $90per month.
$3,105.91 commissions collected aswell as $215.64 4th Qtr Cable income.
Collected 24 administration feesversus 13 budgeted.
Received four short term fees versusone budgeted.
Bills being paid under guest suiteexpense.
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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 0.000.00 0.00 0.00 0.00 0.000.00 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 0.000.00 0.00 0.00 0.00 0.0027,122.79 20,195.00 6,927.79 295,203.09 263,470.00
$281,806.16 $292,297.48 $(10,491.32) $3,276,167.28 $3,392,355.55
11,504.05 12,613.82 1,109.77 Fewer hours reported this month. 138,108.82 147,761.88
0.00 0.00 0.00 0.00 0.0011,142.47 11,784.65 642.18 151,303.51 138,048.78
0.00 0.00 0.00 0.00 0.003,458.93 5,170.30 1,711.37 We paid fewer bonuses then budgeted. 48,278.35 39,026.28
0.00 0.00 0.00 0.00 0.001,490.46 778.00 (712.46) 20,321.45 9,336.00
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
288.42 0.00 (288.42) 5,720.12 0.00
0.00 0.00 0.00 0.00 0.0027,884.33 30,346.77 2,462.44 363,732.25 334,172.94
es (229.16) 1,000.00 1,229.16 7,285.67 12,000.00
847.55 1,100.00 252.45 9,059.18 13,200.0069.00 100.00 31.00 1,175.40 1,200.00
167.93 170.00 2.07 2,781.78 2,040.000.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
s 0.00 90.00 90.00 1,198.82 1,080.000.00 0.00 0.00 0.00 0.00
1,320.93 115.00 (1,205.93) 4,963.64 1,380.00
0.00 0.00 0.00 0.00 0.000.00 25.00 25.00 385.44 300.00
0.00 25.00 25.00 0.00 300.00450.35 390.00 (60.35) 5,193.51 6,150.00499.77 650.00 150.23 6,419.51 7,800.00
0.00 0.00 0.00 0.00 0.003,126.37 3,665.00 538.63 38,462.95 45,450.00
2,241.00 2,600.00 359.00 Reflects current advertising costs. 42,030.54 36,900.00
367.33 798.00 430.67 5,113.61 9,576.00
1,560.43 1,446.20 (114.23) 15,503.18 24,440.780.00 1,550.00 1,550.00 No referral fees paid this month 5,100.00 26,195.00
4,168.76 6,394.20 2,225.44 67,747.33 97,111.78
52.36 427.50 375.14 2,456.88 7,852.50
We have more participants for ourinsurance program then what wasanticipated in the budget.
Used temp labor to cover for openoffice positions.
We received a refund check of$349.91 from HSBC.
Includes cost for holiday party, twomonths Grace Hill Training, pre-employment screening and annualDrug Free Workplace fee.
Spent less on resident party thismonth.
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2,980.00 250.00 (2,730.00) 34,565.00 3,000.00
689.00 1,425.00 736.00 18,076.00 26,175.00
0.00 100.00 100.00 3,075.19 1,200.00
0.00 0.00 0.00 0.00 0.000.00 50.00 50.00 670.00 600.00
935.93 416.67 (519.26) 2,072.57 5,000.04
0.00 25.00 25.00 0.00 300.0077.86 133.33 55.47 1,835.87 1,599.96
4,735.15 2,827.50 (1,907.65) 62,751.51 45,727.50
pplies 111.82 700.00 588.18 Fewer expenses this month. 7,449.17 8,400.00
0.00 100.00 100.00 1,700.38 1,200.00
42.41 140.00 97.59 1,342.07 5,055.006.07 150.00 143.93 507.57 1,800.000.00 0.00 0.00 270.00 0.00
0.00 450.00 450.00 No ordering of spa supplies this month. 4,595.34 5,400.00
0.00 0.00 0.00 125.00 0.0056.38 160.00 103.62 1,500.53 1,920.00
104.00 450.00 346.00 Fewer supplies required this month. 3,402.35 5,850.00
103.29 75.00 (28.29) 1,286.32 900.00
0.00 25.00 25.00 355.34 300.000.00 0.00 0.00 502.73 2,000.000.00 0.00 0.00 0.00 0.000.00 175.00 175.00 12,645.50 10,395.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
423.97 2,425.00 2,001.03 35,682.30 43,220.00
675.00 0.00 (675.00) 24,373.38 30,000.00
376.80 510.00 133.20 7,820.66 6,120.00172.00 75.24 (96.76) 1,559.26 902.88
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
443.07 1,250.00 806.93 16,813.49 5,850.00
1,666.87 1,835.24 168.37 50,566.79 42,872.88
0.00 0.00 0.00 0.00 0.00ewer 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
s 0.00 0.00 0.00 0.00 0.00emov 0.00 0.00 0.00 0.00 0.00g Svc 0.00 0.00 0.00 0.00 0.00ance 0.00 0.00 0.00 0.00 0.00ce 0.00 0.00 0.00 0.00 0.00es 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
11,263.62 11,691.90 428.28 Based on % of collection. 133,888.77 135,694.22
1,000.00 1,000.00 0.00 12,000.00 12,000.003,200.00 3,300.00 100.00 38,750.00 39,600.00
664.80 1,300.00 635.20 3,406.50 15,600.00
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
0.00 9.58 9.58 0.01 114.960.00 0.00 0.00 0.00 0.00
ses 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 572.67 0.00
0.00 0.00 0.00 123.71 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 2,550.30 5,124.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
16,128.42 17,301.48 1,173.06 191,291.96 208,133.18
We had an error in budgeting.Contract cleaned 32 units plus weeklycost to clean the clubroom.
We had fewer carpet cleans thananticipated.
Repair of backsplashes for the kitchenand bathroom in unit 9210.
Rock and feather grass installedaround the fountain and a repair to theirrigation line. Favorable YTD.
Ice melt for snow and one snowremoval on 12/09/2007.
Two evictions filed versus fivebudgeted for.
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3,041.61 3,340.00 298.39 30,886.61 40,080.00
0.00 0.00 0.00 0.00 0.002,405.18 2,565.00 159.82 19,988.40 30,780.00
13,178.18 8,965.00 (4,213.18) 155,742.88 107,580.00
Reim (11,246.52) (6,275.50) 4,971.02 (107,939.51) (75,306.00)
0.00 0.00 0.00 26,038.84 23,500.00ement 0.00 0.00 0.00 0.00 0.00
(2,186.15) (2,011.00) 175.15 (27,631.57) (24,132.00)
ment 0.00 0.00 0.00 0.00 0.001,364.05 880.44 (483.61) 13,075.56 9,387.78
742.87 586.96 (155.91) 5,709.57 6,258.52as 0.00 0.00 0.00 0.00 0.00
7,299.22 8,050.90 751.68 115,870.78 118,148.30
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 1,146.87 0.000.00 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 0.000.00 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 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 1,146.87 0.00
48,259.35 27,616.50 (20,642.85) 362,261.61 331,398.00
0.00 0.00 0.00 0.00 0.006,117.55 5,073.00 (1,044.55) Includes pollution policy. 101,180.39 60,876.00
0.00 49.88 49.88 600.00 598.56
0.00 0.00 0.00 0.00 0.0054,376.90 32,739.38 (21,637.52) 464,042.00 392,872.56
119,809.99 105,585.47 (14,224.52) 1,391,294.74 1,327,709.14161,996.17 186,712.01 (24,715.84) 1,884,872.54 2,064,646.41
ent 106,586.67 106,586.67 0.00 1,279,040.04 1,279,040.04ment 0.00 0.00 0.00 0.00 0.00
86,666.71 86,666.67 (0.04) 1,040,000.52 1,040,000.040.00 0.00 0.00 0.00 0.00
193,253.38 193,253.34 (0.04) 2,319,040.56 2,319,040.08
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 0.000.00 0.00 0.00 0.00 0.00
0.00 170.00 170.00 0.00 2,040.00es 0.00 170.00 170.00 365.00 2,040.00
913.46 75.00 (838.46) 1,993.92 900.00144.16 0.00 (144.16) 889.96 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 0.000.00 0.00 0.00 0.00 0.00
Costs 0.00 0.00 0.00 0.00 0.001,057.62 415.00 (642.62) 3,248.88 4,980.00
0.00 0.00 0.00 4,533.00 18,946.000.00 0.00 0.00 0.00 3,250.000.00 0.00 0.00 0.00 0.00
nt 8,522.14 4,900.00 (3,622.14) 71,146.85 58,800.00
0.00 0.00 0.00 1,227.02 600.000.00 0.00 0.00 0.00 0.00
263.01 0.00 (263.01) One dryer needed replacing. 263.01 0.00
0.00 0.00 0.00 0.00 0.00s 540.48 0.00 (540.48) Two windows replaced. 14,731.97 3,713.00
0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
9,325.63 4,900.00 (4,425.63) 91,901.85 85,309.00
Due to increase of water charges whenonly budgeted for a 3% increase.
Collected 85% of water billed.Favorable variance due to increase inwater rates beyond budget.
Vacant electric bills higher thananticipated due to colder weather.
Accrue monthly property tax as well as2007 tax true up.
Eight carpets needed replacement,versus four budgeted.
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0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
(41,640.46) (11,856.33) (29,784.13) (529,318.75) (344,682.67)
0.00 0.00 0.00 4,054.35 0.00(41,640.46) (11,856.33) (29,784.13) (525,264.40) (344,682.67)
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nnual
udget YTD Variance Comment
209,210.00
0.00
209,210.000.000.00
325,479.64)
(59,160.00)
0.000.00
(7,841.82)
(19,500.00)
0.00(24,600.00)
0.00(10,800.00)632,942.99)
0.000.000.000.00
128,885.55
0.00816.00
0.0019,800.00
2,400.00
11,520.000.00
10,250.00
12,000.00
13,920.00
0.000.00
29,472.00
0.000.000.000.00
79,800.00
0.0012,072.00
0.000.00
1,080.00
0.000.000.00
33,800.00
48,840.00
3,600.00
0.005,100.00
(21,000.00)
0.000.00
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0.00
0.000.000.000.000.00
0.000.00263,470.00
,392,355.55
147,761.88
0.00138,048.78
0.0039,026.28
0.009,336.00
0.000.000.00
0.00334,172.94
12,000.00
13,200.001,200.002,040.00
0.00
0.00
1,080.000.00
1,380.00
0.00300.00
300.006,150.007,800.00
0.0045,450.00
36,900.00
9,576.00
24,440.7826,195.00
97,111.78
7,852.50
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3,000.00
26,175.00
1,200.00
0.00600.00
5,000.04
300.001,599.96
45,727.50
8,400.00
1,200.00
5,055.001,800.00
0.00
5,400.00
0.001,920.005,850.00
900.00
300.002,000.00
0.0010,395.00
0.000.000.00
43,220.00
30,000.00
6,120.00902.88
0.000.000.000.00
5,850.00
42,872.88
0.000.00
0.00
0.000.000.000.000.000.000.00
135,694.22
12,000.0039,600.0015,600.00
0.000.00
114.960.000.000.00
0.000.000.00
5,124.000.000.00
208,133.18
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40,080.00
0.0030,780.00
107,580.00
(75,306.00)
23,500.000.00
(24,132.00)
0.009,387.78
6,258.520.00
118,148.30
0.000.000.00
0.000.000.00
0.000.000.00
0.000.000.000.000.000.00
331,398.00
0.0060,876.00
598.56
0.00392,872.56
,327,709.14,064,646.41
,279,040.040.00
,040,000.040.00
,319,040.08
0.00
0.000.00
0.000.00
2,040.002,040.00
900.000.000.00
0.000.000.000.00
4,980.00
18,946.003,250.00
0.00
58,800.00
600.000.00
0.00
0.003,713.00
0.000.00
85,309.00
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0.000.000.00
(344,682.67)
0.00(344,682.67)
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USA Courtney Downs LeaseCo, LLC
Cash Flow (Actual + Budget)Books = Accrual
For the 12 Months Ending Dec 2007
Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 12 Month $ / $ / Dec 2006 12 Month $ / $ /Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.
342 313,778 342 313,778
352,560 345,950 343,190 338,114 331,407 327,521 321,211 314,121 309,900 307,861 304,657 298,849 3,895,341 11,389.89 12.41 364,160 4,874,409 14,252.66 15.53(34,193) (31,453) (33,657) (26,399) (19,217) (11,745) (8,517) (14,496) (17,176) (16,540) (18,457) (11,315) (243,165) (711.01) (0.77) (43,000) (316,649) (925.88) (1.01)(77,240) (77,177) (74,811) (68,736) (56,781) (52,476) (45,332) (33,435) (26,860) (27,853) (24,522) (19,525) (584,747) (1,709.79) (1.86) (80,000) (710,506) (2,077.50) (2.26)(5,251) (7,154) (5,738) (5,449) (6,551) (6,386) (5,803) (8,688) (5,798) (7,418) (8,902) (13,325) (86,464) (252.82) (0.28) (6,085) (115,029) (336.34) (0.37)
235,876 230,165 228,984 237,529 248,858 256,914 261,560 257,502 260,065 256,050 252,776 254,683 2,980,964 8,716.27 9.50 235,075 3,732,225 10,912.94 11.89
27,580 21,616 22,944 22,832 23,203 22,482 19,521 31,751 27,802 23,451 24,899 27,123 295,203 863.17 0.94 19,000 367,089 1,073.36 1.17
263,457 251,781 251,928 260,361 272,061 279,396 281,081 289,253 287,867 279,501 277,675 281,806 3,276,167 9,579.44 10.44 254,075 4,099,313 11,986.30 13.06
33,611 20,391 30,933 32,195 31,382 31,663 40,842 22,827 31,229 29,995 30,781 27,884 363,732 1,063.54 1.16 37,759 461,221 1,348.60 1.472,710 2,821 2,230 3,652 3,228 3,040 5,519 2,088 3,595 1,911 4,543 3,126 38,463 112.46 0.12 3,030 49,275 144.08 0.166,159 5,921 9,117 4,298 6,292 4,400 4,564 7,230 3,448 6,521 5,629 4,169 67,747 198.09 0.22 6,885 84,628 247.45 0.273,805 2,722 3,636 6,647 4,645 6,951 5,843 4,190 7,769 6,636 5,174 4,735 62,752 183.48 0.20 7,500 80,344 234.92 0.262,027 1,541 2,485 2,639 1,612 1,405 3,289 2,097 2,185 11,250 4,727 424 35,682 104.33 0.11 2,295 43,233 126.41 0.146,403 10,329 1,917 3,299 5,923 4,883 3,010 3,137 3,150 3,267 3,583 1,667 50,567 147.86 0.16 2,395 58,360 170.64 0.19
15,368 15,798 15,451 15,440 14,701 16,179 18,825 16,316 16,541 14,854 15,690 16,128 191,292 559.33 0.61 14,969 238,639 697.78 0.76
9,370 15,941 12,794 6,685 9,382 12,548 12,990 1,571 8,672 10,645 7,972 7,299 115,871 338.80 0.37 10,900 142,381 416.32 0.450 0 0 0 0 0 0 0 0 945 202 0 1,147 3.35 0.00
37,910 33,542 33,143 33,465 34,552 34,243 64,955 34,433 34,062 34,680 34,680 54,377 464,042 1,356.85 1.48 0 465,400 1,360.82 1.4837,237 37,237 108.88 0.12
117,362 109,007 111,705 108,319 111,718 115,314 159,837 93,888 110,652 120,703 112,980 119,810 1,391,295 4,068.11 4.43
146,094 142,774 140,223 152,043 160,343 164,082 121,244 195,364 177,215 158,798 164,695 161,996 1,884,873 5,511.32 6.01 122,970 1,660,718 4,855.90 5.29131,106 2,438,595 7,130.40 7.77
193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 2,319,041 6,780.82 7.390 0 0 0 365 0 690 273 735 0 129 1,058 3,249 9.50 0.01 193,254 197,699 578.07 0.63
1,601 4,113 10,791 8,376 13,906 2,091 4,426 11,143 8,759 6,129 11,240 9,326 91,902 268.72 0.29 0 112,736 329.64 0.363,300 3,300 9.65 0.01
(48,760) (54,592) (63,822) (49,586) (47,181) (31,262) (77,125) (9,305) (25,533) (40,585) (39,927) (41,640) (529,319) (1,547.72) (1.69)(65,449) 2,124,861 6,213.04 6.77
7,543 (3,489) 0 0 0 0 0 0 0 0 0 0 0250,000 250,000
s 0 0 4,562 4 ,374 2 ,739 0 46,036 0 0 0 0 0 57,711(4,571) (717) 131,540 (134,406) 2,415 (1,420) 8,565 8,538 (43) 321 1,244 (2,018) 9,447 0 8,672(7,749) 3,588 6,328 (4,460) 523 337 10,797 5,633 5,633 5,139 5,880 3,267 34,915 0 44,062
(30,394) (34,568) (34,568) (34,822) 322,388 (35,800) (35,800) (35,800) (35,800) (35,800) 14,016 (35,800) (12,750) 0 (34,534)
(2,951) (2,951)sets (42,714) (31,697) 107,861 (169,314) 328,065 (36,884) 29,597 (21,630) (30,210) (30,340) 21,140 (34,552) 89,322
(2,951) 15,24936,334 64,458 (135,734) 185,452 117,385 41,375 118,141 24,714 18,691 37,197 6,339 67,513 581,86341,830 25,859 110,449 36,480 (411,342) 29,291 (51,145) (11,371) 25,600 32,375 21,925 48,259 (101,791) 0 (31,606)(1,829) (1,300) (1,433) (4,374) (2,739) (793) (1,500) (2,763) (2,538) 1,250 (1,824) 638 (19,204) 0 (20,390)
0 (11,458) (5,571) 15,448 1,581 0 12,262 0 (11,933) 0 0 2,053 2,381 0 4,4340 0
iab. 76,334 77,559 (32,289) 233,006 (295,115) 69,872 77,757 10,580 29,821 70,821 26,440 118,463 463,2500 (47,562)
(7,597) (12,219) 11,751 14,106 (14,231) 1,726 30,229 (20,355) (25,922) (103) 7,653 42,271 23,253
47,614 35,395 47,146 61,251 47,020 48,746 78,975 58,620 32,698 32,595 40,248 82,519 181,601 2,342,548181,601
UnSq. Ft.
## 384807
ba 160 146,080
cas 356 384,807
ce 300 274,080
co 257 254,074
jac 247 221,730
lee 10 22,160
re 428 398,868
ric 5 24,952
par 300 305,832
pol 440 403,761
sat 440 548,750
sw 240 264,892
trai 280 286,056
vlg 120 108,276wa 284 254,103
we 12 48,309
wi 346 433,196
usa 280 299,111
usa 284 254,103
Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007
Row 60 Row 61
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es by 50%
+ reduction in tax escrow due to overage
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ourtney Downs ApartmentsDecember 07
25 INCOME THIS MONTH: $281,806.0023 INCOME LAST MONTH: $277,675.002 DIFFERENCE: $4,131.00
TOTAL # GARAGES 120# GARAGES OCCUPIED 116
93.57%/95.32% GARAGES OCCUPIED % 97%
REASONS WHY PROSPECTS DID NOT LEASE:
affic Leased
0 0 * Job Transfer 00 0 * Too expensive. 50 0 * Future/No Availability/Waiting list 00 0 * Just started looking. 11
18 4 * Waiting for Home to Sell 00 0 * Current Lease to Expire 0
22 8 * Needs Ground Floor 33 1 * Moved Elsewhere 69 2 * Will return with roommate or spou 90 0 * Realtor Looking for Client 00 0 * Undecided 7
8 4 * Employment pending 0
0 0 * House sale pending 0* Rented at Competitor 0
60 19 TOTALS 41
2%
FOR THE MONTH
Nextel Human Resources.on specials and prices..
uman Resources.ect T.V.ricing and specials for the month of December.
First Data Human Resources.s of temporary housing for new home buyers.
hures to Wells Fargo Team.es to Marriott extended stay hotels.er's to Newman Homes.hures to Richmond Homes Team.Horton Homes sales center.
ERTIES:discounted rents on selected units.e rents of $680, two bedrooms at $755 and three bedrooms starting at $1099.with a 12 to 13 month lease.rental rate of $810. per month.
of December. Nine renewed leases with a $52 increase.relocating out of the area (4) job change
to freezing temperatures.
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ROUTINE REPLACEMENTS:
Number of: Apt. #
18 REFRIGERATORS 08 DISHWASHERS 010 WINDOWS 0
124 A/C COMPRESSORS 0
Completed 0 CONDENSING UNITS 032 32 WATER HEATERS 019 19 ICE MAKERS 018 18 GARBAGE DISPOSALS 07 7 MICROWAVES 0
25 25 CARPETS 80 0 CEILING FANS 015 15 TOILETS 08 8 A/C FAN MOTORS 0
124 124 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 0
0 BLINDS 21
TUBS RESURFACED 0TUB TILES 0
RESS:
TION:ment.
red or replaced.
cy Howlande McMillanmer WahrmanHawkins
riel Tellezsell Brileye Chavez and Jorge Bernal
NTH:
perty due to ice patches forming on the shady side of the bldgs.
month than last month.
NumberReplaced
7209, 6209, 16304, 7106, 12207,10109, 12105, 10306.
9210-2, 12207-2, 19111-3, 2111-1,9207-1, 9212-1, 12208-2, 10109-2,7106-2, 7209-1, 6209-2, 16304-2
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TS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION Vacants Notice
S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS
40 704 28,160 725 1.03 $29,000 $348,000 725.00 1.03 $29,000 2 0 6 1 7
32 704 22,528 725 1.03 $27,520 $330,240 725.00 1.03 $27,520 0 0 0 0 0
18 910 16,380 850 0.93 $15,300 $183,600 850.00 0.93 $15,300 1 0 1 1 1
24 808 19,392 750 0.93 $18,000 $216,000 750.00 0.93 $18,000 2 0 3 1 4
32 808 25,856 760 0.94 $24,320 $291,840 760.00 0.94 $24,320 0 0 0 0 0
42 977 41,034 875 0.90 $36,750 $441,000 875.00 0.90 $36,750 3 3 4 0 4
44 1,030 45,320 900 0.87 $39,600 $475,200 900.00 0.87 $39,600 3 0 5 0 8
22 1,030 22,660 925 0.90 $20,350 $244,200 925.00 0.90 $20,350 0 0 0 0 0
24 977 23,448 875 0.90 $21,000 $252,000 875.00 0.90 $21,000 0 0 0 0 0
16 1,030 16,480 925 0.90 $14,800 $177,600 925.00 0.90 $14,800 4 0 1 0 5
20 1,030 20,600 925 0.90 $18,500 $222,000 925.00 0.90 $18,500 0 0 0 0 0
24 1,140 27,360 1160 1.02 $27,840 $334,080 1,160.00 1.02 $27,840 2 0 3 0 5
4 1,140 4,560 1160 1.02 $4,640 $55,680 1,160.00 1.02 $4,640 0 0 0 0 0
342 917 313,778 $870 $0.95 $297,620 $3,571,440 $870 0.95 $297,620 17 3 23 3 34
* Net of Concessions
EFFECTIVECONCESSION
EFFECTIVEPER S/F
EFFECTIVEMONTHLY
VacantsLeased
NoticeLeased
NetAvailable
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MARKET SURVEYCourtney Downs
December-07
oyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek
E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr
03-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7200 303-680-6696
Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112
507 653 216 312 360 168
5 7 4 6 6 6
$35.00 $40.00 $35.00 $40.00 $35.00 $50.00yes yes no yes no yes
yes yes yes yes yes yes
300-600 150-300 $100 300-500 $400-500 300
275-325 300 $300 $100.00 $200-300 100
yes Only In Select Units Only Select Units no yes no
yes yes yes no no no
yes yes yes yes yes yes
yes yes yes yes yes yes
no no no yes yes yes
1 1 1 1 2 1
yes yes yes yes yes yes
1 1 1 1 2 1
yes yes yes yes yes yes
yes yes yes yes yes yes
yes yes yes yes yes yesyes yes yes yes yes yes
yes yes yes yes yes yes
no yes yes yes yes yes
yes yes no yes yes yes
no yes yes yes no yes
no no no no no no
no no no no no no
yes yes yes yes yes yes
yes yes yes yes yes yes
no no no no no no
no yes yes yes yes yes
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MARKET SURVEY Courtney Downs
December-07
(Concessions reduced rates)
PROPERTY: Courtney Downs Apt Coyote Ranch Windsor at Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve@South Creek
PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF
fficiency fficiencyB1B (A) 725 704 1.03 760 779 0.98 680 627 1.08 795 685 1.16 755 768 0.98 725 707 1.03 719 763 0.94B1B (B) 850 808 1.05 775 853 0.91 740 701 1.06 830 705 1.02 765 842 0.91 745 796 0.94 738 763 1.05
B1B w/study 750 910 0.82 840 811 0.91 845 760 1.03 780 992 0.79 780 916 0.85B B
B w/loft B1B w/study 820 956 0.86 1109 1051 1.06B2B (E) 875 977 0.90 885 1105 0.80 920 1044 0.88 1110 1120 0.99 955 1115 0.86 905 1033 0.88 819 1037 0.79
B2B (F) 900 1030 0.87 915 1192 0.77 1060 1196 0.89 985 1220 0.81 905 1093 0.83 905 1037 1.23
B2B (G) 925 1030 0.90 1090 1180 0.92B2B (H)B2B
B w/study B2B TH B2B TH
B2B 1,160 1140 1.02 1270 1398 0.91 1320 1330 0.99 1169 1230 0.95 1099 1356 0.81 1290 1235 1.04 909 1257 0.72B2B 1340 1398 0.91 1305 1235 1.04 1039 1257 1.10
% occ /leased 94 95.32% 96% 97% 0 0% 93% 95.10% 94.6% 96% 92.5% 95% 94.5% 96%
Avg PSF 1 0.94 0.88 0.95 1.03 0.86 0.94 0.97
Avg Rents 884 1114 994 808 890 1131 995/ Avail) 342 40 507 21 653 216 27 312 19 360 19 0 168 18
Rateseflect these rates:
pecials:
Ren: $50 to $75 increase. Ren:Per corporate
Units(Tot
Special: look and leasespecial $150 security depositwaived and reduced rents onselect units.
Special: Reduced pricingfor all floor plans.
Will not give out anyinformation.
Special:One month freewith look and lease.
Special: One month off 12to 13 month lease.
Special: First full monthsrent.
Special: One month free on a12 to 13 month special.
Ren.: 15% increase on allrenewals.
Ren: Info not avail percorporate
Ren: $60 to $85 increasfor 12 month lease
Ren: Average $50 to $125increase.
Ren: Free carpet cleaningwith 12mo.
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