Real Estate budget file
Real Estate
Budget Detail
MREG: Confidential
Economic Occupancy
Occupied %
Turnover
No. of Units:
Rentable SQFT:
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23 Total Budgeted
94.31%
96.20%
32.38%
94.40%
96.28%
32.38%
94.48%
96.36%
32.38%
94.57%
96.44%
32.38%
94.26%
96.12%
32.38%
94.34%
96.20%
32.38%
94.43%
96.28%
32.38%
94.51%
96.36%
32.38%
95.00%
96.83%
32.38%
94.69%
96.52%
32.38%
94.77%
96.59%
32.38%
93.98%
96.83%
31.27%
94.46%
96.42%
32.06%
168,525
(4,007)
164,518
(6,407)
0
0
(533)
0
(1,-
(1,-,152
168,525
(3,776)
164,749
(6,273)
0
0
(533)
0
(1,-
(1,-,517
168,525
(3,558)
164,967
(6,140)
0
0
(533)
0
(1,-
(1,-,868
168,525
(3,353)
165,172
(6,006)
0
0
(533)
0
(1,-
(1,-,207
168,525
(3,159)
165,366
(6,541)
0
0
(533)
0
(1,-
(1,-,866
168,525
(2,977)
165,548
(6,407)
0
0
(533)
0
(1,-
(1,-,182
168,525
(2,805)
165,720
(6,273)
0
0
(533)
0
(1,-
(1,-,488
168,525
(2,643)
165,882
(6,140)
0
0
(533)
0
(1,-
(1,-,783
168,525
(2,492)
166,033
(5,337)
0
0
(533)
0
(1,-
(1,-,737
168,525
(2,348)
166,177
(5,872)
0
0
(533)
0
(1,-
(1,-,346
168,525
(2,213)
166,312
(5,738)
0
0
(533)
0
(1,-
(1,-,614
168,525
(7,464)
166,421
(7,062)
0
0
(536)
0
(1,-
(1,-,398
2,022,300
(40,795)
1,981,505
(74,197)
0
0
(6,399)
0
(12,-
(17,111)
0
1,871,798
Per SQFT
126
152,600
Per Unit
INCOME
Rental Revenue- Gross Mkt Rent Potential- Gain/Loss to Lease
Potential Rent- Vacancy- Non Rev Producing Units- Models- Employee Units
Government Subsidy Income- Rental Concessions- Prior Month Prepaid Rent- Prepaid Rent Collected- Current Months Delinquents- Past Due Collected- Write-Offs- Write-Off Rent Recovery
Total Rental Revenue
Other Rental Income-
MTM Premium
Short Term Lease Premium-
Pet Premium-
Garage-
Carport-
Storage
Boat Slips
Accelerated rent-
Reimbursed Electricity-
Reimbursed Gas-
Reimbursed Water
Reimbursed Amenity-
Reimbursed Trash
Reimbursed Pest Control
Total Other Rental Income
Net Rental Revenue
Other Income-
Application Fees-
NSF Fees-
Late Fees-
Initial Pet Fees
Redecoration Fees-
Administrative Fees-
Clubroom Rental-
Vending Income
Transfer Fees
Gate Card Income-
Lease Cancellation Fees
13.25
-
-
(0.04)
0.00
-
-
16,050.00
-,726.23
-
-
-
-,855.54
-,300
20
2,160
-,300
40
2,330
-,300
60
2,420
-,300
80
2,590
-,-,720
-,-,850
-,-,980
-,-,090
-,-,220
-,-,-,370
-,-,-,500
-,-,-,630
7,200
0
1,-,-,600
1,560
34,860
-
-
157,312
157,847
158,288
158,797
158,586
159,032
159,468
159,873
160,957
160,716
161,114
160,028
1,912,018
12.53
15,174.75
-,-,500
-,-,500
-,-,500
-,-,500
-,-,-,500
-,-,500
-,-,-,500
-,-,500
-,-,500
-,-,500
-,-,500
-,-,500
3,750
1,800
30,000
3,600
0
8,-,000
-
-
Page 1 of 9
Real Estate
Budget Detail
MREG: Confidential
Write Off Other Income
Bad Debt Recovery - Other Income
Collection Allowance
Resident Services Income-
Damages/Cleaning-
Interest Income-
Cable Service Income
Cable Service Expense-
Attorney Fee Recovery-
Forfeited Security Deposits
Furniture Rental
Phone Income
Yacht Club Dues
Garage Income
Credit Report Fees-
Alarm Fees
Maintenance Income-
Other Income Concessions
Total Other Income
Jan-23
(1,-,-,777
Corporate Apartment Income-
Corporate Premium-
Corporate Furniture-
Furnishings-
Utilities-
Cleaning-
Other
Total Corporate Apartment Income
Laundry Income-
Washer/Dryer Rental-
Coin-op Laundry-
Washer/Dryer Rental Exp.
Total Laundry Income
TOTAL REVENUE
Feb-23
(1,-,-,842
Mar-23
(1,-,-,802
Apr-23
(1,-,-,867
May-23
(1,-,-,272
Jun-23
(1,-,-,882
Jul-23
(1,-,-,297
Aug-23
(1,-,-,862
Sep-23
(1,-,-,877
Oct-23
(1,-,-,887
Nov-23
(1,-,-,892
No. of Units:
Rentable SQFT:
126
152,600
Dec-23 Total Budgeted Per SQFT
(1,500)
(18,000)
-,115
13,-,-,890
71,147
0.47
Per Unit
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,780
0
0
3,780
-
-
163,404
164,004
164,405
164,979
165,173
165,229
166,080
166,050
167,149
166,918
167,321
166,233
1,986,945
13.02
15,769.40
3,-,079
2,382
3,-,079
2,382
4,-,619
3,573
3,-,079
2,382
3,-,079
2,382
3,-,079
2,382
3,-,079
2,382
4,-,619
3,573
3,-,079
2,382
3,-,079
2,382
3,-,079
2,382
3,-,079
2,382
42,002
5,-,028
30,966
-
-
OPERATING EXPENSES
Payroll-
-
Manager
Assistant Manager
Leasing
Leasing
Leasing
Fitness Instructor
Bookkeeper
Other Administrative Salaries
Employee Housing - Admin
Leasing Manager
Leasing Consultant
Employee Housing - Leasing
Other Leasing Salaries
Maintenance Manager
Asst Maintenance Manager
Manager
Assistant Manager
Regional Manager
Leasing
Leasing
Leasing
Activity Director
Asst Activity Director
Fitness Instructor
Bookkeeper
Leasing Manager
Leasing Consultant
Leasing Consultant
Maintenance Manager
Asst Maintenance Manager
Page 2 of 9
Real Estate
Budget Detail
MREG: Confidential-
Maintenance Assistant
Asst Maintenance Manager-
Maintenance Assistant
Maintenance Assistant-
Porter/Grounds Person
Porter/Grounds Person-
Porter/Grounds Person
Porter/Grounds Person-
Painter-In-House
Painter In-House-
Housekeeper
Housekeeper
Employee Housing - Maint
Other Maintenance Salaries
Bonus - Admin
Bonus - Leasing
Bonus - Maintenance
Bonus - Cleaning
Bonus - Grounds
Bonuses (currently not operable-
Payroll Taxes - Admin-
Payroll Taxes - Leasing-
Payroll Taxes - Maintenance-
Payroll Taxes - Cleaning-
Payroll Taxes - Grounds-
Payroll Taxes (currently not operable-
Insurance Benefits - Admin-
Insurance Benefits - Leasing-
Insurance Benefits - Maintenance-
Insurance Benefits - Cleaning-
Insurance Benefits - Grounds-
Insurance Benefits (currently not operable-K Contribution - Admin-K Contribution - Leasing-K Contribution - Maintenance-K Contribution - Cleaning-K Contribution - Grounds-K Contribution (currently not operable-
Workers Compensation - Admin-
Workers Compensation - Leasing-
Workers Compensation - Maintenance-
Workers Compensation - Cleaning-
Workers Compensation - Grounds-
Workers Compensation (currently not operable)
Payroll Processing-
Temporary Help - Admin-
Temporary Help - Maint
Other
Total Payroll
Utilities-
Electricity-Vacant
Electricity-Common Area
Gas-Vacant
Oil
Gas-Common Area
Water
Water Rebilling
Trash Removal
Cable
Trash - Valet
Other Utilities Internet
Reimbursed Electricity
Jan-23
0
0
Feb-23
0
0
Mar-23
0
0
Apr-23
0
0
May-23
0
0
Jun-23
0
0
-,-,167
-,-,144
-,-,-,992
-,-,135
-,-,135
-,-,190
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
Page 3 of 9
No. of Units:
Rentable SQFT:
Jul-23
0
0
126
152,600
Aug-23
0
0
Sep-23
0
0
Oct-23
0
0
Nov-23
0
0
Dec-23 Total Budgeted Per SQFT-
Per Unit
0.00
0.00
-,-,135
-,-,-,028
-,-,190
-,-,081
-,-,244
-,-,059
0
0
0
0
0
5,-,-,-,-,-,-,500
-
-,250.00
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
300
1,-,300
0
1,-
3,600
14,-,600
0
18,-
-
-
Real Estate
Budget Detail
MREG: Confidential
Reimbursed Gas
Reimbursed Water
Reimbursed Sewer
Reimbursed - Other Utilities
Total Utilities
No. of Units:
Rentable SQFT:
Jan-,335
Feb-,375
Mar-,375
Apr-,300
May-,375
Jun-,300
Jul-,375
Aug-,300
Sep-,375
Oct-,375
Nov-,300
Redecorating / Make-Ready-
Carpet Cleaning-
Carpet Repair-
Vinyl Repair
Countertops Resurfacing-
Painting
Window Coverings Repair
Wall Coverings Repair-
Contract Cleaning-
Cleaning Supplies-
Window Cleaning
Private Gate Repair
'Tub and Counter Resurfacing
Total Redecorating / Make-Ready
-,-,405
-,-,705
-,-,405
-,-,705
-,-,405
-,-,705
-,-,405
-,-,705
-,-,405
-,-,705
-,-,405
-,-,545
2,-,542
2,400
0
6,-,710
2,400
31,500
-
-
Contracted Services-
Landscape Contract
Flowers/Mulch
Landscape Supplies
Plants & Plant Maintenance
Landscape Equipment
Lake/Pond Maintenance
Courtesy Patrol
Alarms & Monitoring-
Pest Control-
Cable Contract
Snow Removal-
Elevator Contract
Contract Pool Service-
Electrical Contract
Contract Housing Allowance
Other Contracted Services
Total Contracted Services
2,-,690
2,-,690
2,-,690
2,-,690
2,-,690
2,-,590
2,-,690
2,-,590
2,-,690
2,-,660
2,-,690
2,-,740
27,-,-,-,800
0
0
4,500
44,100
-
-
Repairs & Maintenance-
Electrical-
Plumbing Repairs & Maint
Plumbing Supplies-
HVAC Repairs & Maint-
HVAC Supplies-
Appliance/Equipment
Interior Doors
Exterior
Roof
Gutter-
Pool & Spa Repairs & Maint-
Pool Supplies
Recreational Facilities
Lawn Sprinkler/Irrigation
Chimney Sweeping
Windows/Screens/Doors
-
-
-
-
-
-
-
-
-
-
-
-
6,000
6,000
0
6,000
0
3,600
6,-,-,750
-
-
Page 4 of 9
Dec-23 Total Budgeted Per SQFT-,300
136,085
0.89
126
152,600
Per Unit-,080.04
Real Estate
Budget Detail
MREG: Confidential
General Supplies - Tools/Equip-
Parking & Garage-
Parking Lot Repairs
Cleaning & Supplies
Water Extraction-
Fire / Life Safety-
Golf Carts/Vehicle
Painting Contract
Painting Supplies
Locks and Keys
Preventive Maintenance
Maintenance Uniforms
Other
Total Repairs & Maintenance
Jan-,400
Feb-,000
Mar-,-,800
Apr-,350
May-,000
Jun-,350
No. of Units:
Rentable SQFT:
Jul-,400
Aug-,350
Sep-,400
Oct-,350
Nov-,375
Dec-23 Total Budgeted Per SQFT-,-,-,-,325
44,100
0.29
126
152,600
Per Unit-
Leasing & Marketing- Adv. - Printed Media
Apartment Guide/Magazine
Adv. - Production Expense
Radio / TV
Corporate Marketing
Collateral Materials
Banners/Flags
Signage
Model Furniture
Model Accessories
682500 Promotions
Prospect Refreshments
Resident Functions/Parties- Resident Referral
Locator / Broker Fees- Market Studies/Shopper Reports
Community Newsletter
Resident Retention- Other Adv/Internet/Website
Other Marketing
Total Leasing & Marketing
-
-,710
-
-
-
-
-
-
-
-
-
-
0
7,-,380
12,600
-
-
General & Administrative-
Telephone
Cell Phone
Answering Service
Pagers/Beepers
Employee Recruiting-
Training & Education
Employee Travel / Mileage
Employee Development
Office Supplies-
Postage/Express Mail-
Dues & Subscriptions
Office Equipment
Furniture Rental-
Credit Verification Fees-
Eviction Legal Fees-
Governmental Licenses Fees/Permits
Banking Fees/Charges
Computer Services & Fees
-
-
-
-
-
-
-
-
-
-
-
-
2,-,-,507
3,-,400
-
-
Page 5 of 9
Real Estate
Budget Detail
No. of Units:
Rentable SQFT:
MREG: Confidential
Apt. Association Dues
Print/Copy/Fax
Mobility Plan
Uniforms
Application Fees Collected
Total General & Administrative
Jan-,398
Feb-,455
Mar-,398
Apr-,398
May-,764
Jun-,814
TOTAL CONTROLLABLE OPERATING EXPENSES
35,385
37,079
43,650
35,568
36,359
35,938
128,019
126,925
120,756
129,411
128,814
4,902
4,920
4,932
4,949
2,345
0
7,247
2,345
0
7,265
2,345
0
7,277
3,-,518
3,-,518
16,-,016
Bad Debt Expense-
Bad Debt Expense
Total Bad Debt Expense
Non-Routine Maintenance
770050
Building & Structures
770100
General Property
770150
Furniture & Fixtures
770200
Equipment & Appliances
770210
Appliances (Non-Capitalized)
770250
Carpet Replacements
770255
Vinyl Replacements
770300
Interior
770350
Exterior
770400
Roof Repair
770450
HVAC Replacements
770500
Exterior Painting
770550
Parking Lot
770600
Pool
770650
Electrical/Lighting
770700
Rehabilitation
770750
Landscape - Non-Routine
CONTROLLABLE NET OPERATING INCOME
Management Fees-
Management Fee
Management Fee Incentive
Asset/Renovation Management Fee-
Accounting Expense
Total Management Fees
Insurance-
Property-
General Liability-
Excess Liability-
Boiler Liability-
Other Flood
Total Insurance
Real Estate & Property Taxes
'-
Real Estate Property Taxes-
Personal Property Taxes-
Tax Service Consultants
Special Assessments-
Sales Tax
Other
Total Real Estate & Property Taxes
Aug-,420
Sep-,486
Oct-,486
Nov-,364
Dec-23 Total Budgeted Per SQFT-,-,456
18,900
0.12
35,459
41,383
35,535
35,646
36,368
36,415
444,785
2.91
3,530.04
129,291
130,621
124,667
131,614
131,271
130,954
129,818
1,542,160
10.11
12,239.36
4,955
4,957
4,982
4,982
5,014
5,008
5,020
4,987
2,345
0
7,294
2,345
0
7,300
2,345
0
7,302
2,345
0
7,327
2,345
0
7,327
2,345
0
7,359
2,345
0
7,353
2,345
0
7,365
2,339
0
7,326
59,608
0
28,134
0
25,617
-
-
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
3,-,518
42,-,216
-
-
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
16,-,016
192,-,192
-
1,-,525.33
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
0.00
0.00
0.00
0.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Page 6 of 9
Jul-,464
126
152,600
Per Unit-
Real Estate
Budget Detail
MREG: Confidential
770800
Survey / Seepage Consulting
770850
Plumbing
770950
Other
770900
Replacement Reserve
Total Non-Routine Maintenance
Jan-
Feb-
Mar-
Apr-
May-
Jun-
TOTAL NON-CONTROLLABLE EXPENSES
26,781
26,799
26,811
26,828
26,834
26,836
TOTAL OPERATING EXPENSES
NET OPERATING INCOME
RS Capital Improvements
150020
Balconies and Decks
150040
Blinds & Drapes
150050
Exercise Equipment
150060
Cabinets
150080
Clubhouse Renovation
150090
Asphalt/Concrete Improvements
150100
Countertops
150120
Doors & Hardware
150140
Electrical
150160
Exterior Replacement
150180
Foundations & Slab
150200
Fire Protection / Life Safety
150220
Gutters & Downspouts
150240
HVAC - Common
150245
HVAC - Unit
150260
Insulation
150280
Interior Replacements
150300
Model Renovation
150320
Painting & Staining
150340
Plumbing
150360
Roof
150380
Siding/Stucco
150400
Stairs & Landings
150420
Windows
150440
Dishwashers
150460
Disposals
150480
Microwaves
150500
Ovens
150520
Ranges
150540
Hoods
150560
Refrigerators
150580
Washers/Dryers
150590
Water Heaters
150600
Other Appliances
150620
Common Area Carpet Replacements
150640
Common Area Vinyl Replacements
150660
Unit Carpet Replacement
150680
Unit Vinyl Replacement
150700
Other Flooring Replacement
150720
Computers
150740
Furniture (Indoor)
150760
Furniture (Outdoor)
150780
Golf Carts
150800
Office Equipment
No. of Units:
Rentable SQFT:
Jul-
Aug-
Sep-
Oct-
Nov-
Dec-23 Total Budgeted Per SQFT-
26,861
26,861
26,893
26,887
26,899
26,860
126
152,600
Per Unit-
322,150
2.11
2,556.75
62,166
63,878
70,461
62,396
63,193
62,774
62,320
68,244
62,428
62,533
63,267
63,275
766,935
5.03
6,086.79
101,238
100,126
93,945
102,583
101,980
102,455
103,760
97,806
104,721
104,384
104,055
102,958
1,220,010
7.99
9,682.62
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-
-,-,-,700
0
4,-,-
-
-
Page 7 of 9
Real Estate
Budget Detail
MREG: Confidential
150820
Other Personal Property
150840
ADA
150860
Misc. Land
150880
Site Improvements
150900
Misc. FF&E
150920
Misc. Buildings
150940
Other Capital Improvements
150950
Asbestos Abatement
150955
Boiler
150960
Trees & Shrubs
150965
Swimming Pool
150969
Recreational Facilities - Other
150973
Parking Lot
150975
Security System
150978
Sprinkler System
150979
Pest Control
150980
Fence Repair/Replacement
Total RS Capital Improvements
Jan-,850
Feb-,400
Mar-,850
Apr-,300
May-,850
No. of Units:
Rentable SQFT:
Jun-,300
Jul-,850
Aug-,600
Sep-,350
Oct-,300
Nov-,850
Dec-23 Total Budgeted Per SQFT-,300
37,800
0.25
126
152,600
Per Unit-
Interest - Mort Encumb-st Mortgage Note
2nd Mortgage Note
Letter of Credit Fees
Contingent Interest
Principal
Total Interest - Mort Encumb
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
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
-
-
Casualty Loss
Casualty Loss Expense
Insurance Reimbursement
Escrow Reimbursement
Total Casualty Loss
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
0
0
0
0
0
0
0
0
0
0
0
0
-
-
Partnership Expenses
Auditing
Partnership Accounting
Appraisal Fees
Legal Fees
Stockholders Mgmt Fee
Trustee Ordinary Fees & Exp
Issuer Administration Fee
Issuer Compliance Fee
Asset Oversight Fee
Facility Fee
Guarantee Fee Preff
Other Partnership Expenses
Total Partnership Expenses
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Depreciation/Amortization
785050
Depreciation
785100
Amortization
Total Depreciation/Amortization
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
-
-
Make-a-difference Center Expense
Program Expense
Social Activities
Office Supplies
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
-
-
Page 8 of 9
Real Estate
Budget Detail
MREG: Confidential
Telephone
Utilities
Maintenance
Equipment Purchase
Equipment Repair
Software
Supplies
Payroll-Full Time
Payroll-Part Time
Vehicle Allowance
Total Make-a-difference Center Expense
Jan-
Feb-
Mar-
NET GAIN / (LOSS)
97,388
97,726
90,095
Apr-,283
May-,130
Jun-,155
Page 9 of 9
No. of Units:
Rentable SQFT:
Jul-,910
Aug-,206
Sep-,371
Oct-,084
Nov-,205
Dec-23 Total Budgeted Per SQFT-,658
1,182,210
7.75
126
152,600
Per Unit-,382.62