Page 11 - Preserve at Tech Investor Quarterly Report Academic Year 2021-2022 Quarter 2

Ruston Properties I, LLC
The Preserve at Tech
Budget Comparison Report
Managed by RISE Residential
As of January 31, 2022

Prior MTD Prior YTD Current
Month to Date 01/31/2022 01/31/2021 Year to Date 01/31/2022 01/31/2021 Fiscal Year
Actual Budget Variance Actual Variance Actual Budget Variance Actual Variance Budget
REVENUE

RENTAL INCOME
358,680 358,680 0 0 358,680 5120 - Gross Potential Rent (GPR) 2,150,130 2,152,080 (1,950) 0 2,150,130 4,304,160
3,695 0 3,695 0 3,695 5125 - Gain/Loss to Lease 14,288 65,421 (51,133) 0 14,288 65,421
3,900 0 3,900 0 3,900 5127 - Accelerated Rent 3,900 0 3,900 0 3,900 0
366,275 358,680 7,595 0 366,275 GROSS RENTAL INCOME 2,168,318 2,217,501 (49,183) 0 2,168,318 4,369,581

COST OF LEASING
(100,915) (107,660) 6,745 0 (100,915) 5220 - Rent Loss-Vacancy (650,966) (733,620) 82,654 0 (650,966) (1,379,580)
(1,950) (1,950) 0 0 (1,950) 5221 - Rent Loss-Model (11,700) (11,700) 0 0 (11,700) (23,400)
0 (1,950) 1,950 0 0 5222 - Rent Loss-Security 0 (7,800) 7,800 0 0 (19,500)
(492) (2,298) 1,806 0 (492) 5223 - Employee Units (1,750) (9,888) 8,138 0 (1,750) (23,676)
0 0 0 0 0 5250 - Concessions (73,355) (69,690) (3,665) 0 (73,355) (69,690)
(11,663) (2,454) (9,209) 0 (11,663) 5255 - Bad Debt Expense (28,768) (14,494) (14,274) 0 (28,768) (29,217)
(115,020) (116,312) 1,292 0 (115,020) TOTAL COST OF LEASING (766,539) (847,192) 80,653 0 (766,539) (1,545,063)

251,255 242,368 8,887 0 251,255 NET RENTAL INCOME 1,401,779 1,370,309 31,470 0 1,401,779 2,824,518
OTHER INCOME
0 35 (35) 0 0 5914 - Vending Income 0 70 (70) 0 0 140
2,150 1,000 1,150 0 2,150 5920 - Late Charge Income 13,978 5,750 8,228 0 13,978 11,750
(10) 70 (80) 0 (10) 5924 - NSF Check Fee Income 50 350 (300) 0 50 770
0 0 0 0 0 5926 - Administrative Fee (400) (400) 0 0 (400) (400)
(1,230) 0 (1,230) 0 (1,230) 5930 - Resident Damages 145 0 145 0 145 0
(250) 0 (250) 0 (250) 5932 - Cleaning Fee 50 0 50 0 50 0
50 0 50 0 50 5936 - Parking Permit Fees 150 0 150 0 150 0
1,600 200 1,400 0 1,600 5951 - Application Fees 10,050 5,450 4,600 0 10,050 13,450
400 0 400 0 400 5952 - Onetime Pet Fee Income 2,900 0 2,900 0 2,900 0
450 0 450 0 450 5953 - Fines 1,000 50 950 0 1,000 50
360 50 310 0 360 5954 - Replmnt Keys/Cards/Lock Outs 1,655 300 1,355 0 1,655 600
21,191 12,657 8,534 0 21,190 5956 - Utility Income 82,553 55,160 27,393 0 82,553 131,102
500 0 500 0 500 5957 - Transfer Fees 3,300 0 3,300 0 3,300 0
241 75 166 0 241 5964 - Monthly Pet Rent Income 1,136 420 716 0 1,136 870

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