Page 33 - Preserve at Tech Investor Quarterly Report Academic Year 2021-2022 Quarter 2

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

08/31/2021 09/30/2021 10/31/2021 11/30/2021 12/31/2021 01/31/2022 02/28/2022 03/31/2022 04/30/2022 05/31/2022 06/30/2022 07/31/2022 Total Original
Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Act/Bud Budget Variance
REVENUE

RENTAL INCOME
5120 - Gross Potential Rent (GPR) 358,680 356,730 358,680 358,680 358,680 358,680 358,680 358,680 358,680 358,680 358,680 358,680 4,302,210 4,304,160 (1,950)
5125 - Gain/Loss to Lease 0 4,699 1,052 2,574 2,268 3,695 0 0 0 0 0 0 14,288 65,421 (51,133)
5127 - Accelerated Rent 0 0 0 0 0 3,900 0 0 0 0 0 0 3,900 0 3,900
GROSS RENTAL INCOME 358,680 361,429 359,732 361,254 360,948 366,275 358,680 358,680 358,680 358,680 358,680 358,680 4,320,398 4,369,581 (49,183)
COST OF LEASING
5220 - Rent Loss-Vacancy (128,650) (109,635) (103,018) (105,200) (103,548) (100,915) (107,660) (107,660) (107,660) (107,660) (107,660) (107,660) (1,296,926) (1,379,580) 82,654
5221 - Rent Loss-Model (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (23,400) (23,400) 0
5222 - Rent Loss-Security 0 0 0 0 0 0 (1,950) (1,950) (1,950) (1,950) (1,950) (1,950) (11,700) (19,500) 7,800
5223 - Employee Units (130) (130) (130) (376) (492) (492) (2,298) (2,298) (2,298) (2,298) (2,298) (2,298) (15,538) (23,676) 8,138
5250 - Concessions (50,220) (18,190) (4,340) 0 (605) 0 0 0 0 0 0 0 (73,355) (69,690) (3,665)
5255 - Bad Debt Expense (2,370) (580) (3,180) (8,083) (2,893) (11,663) (2,454) (2,454) (2,454) (2,454) (2,454) (2,454) (43,491) (29,217) (14,274)
TOTAL COST OF LEASING (183,320) (130,485) (112,618) (115,609) (109,488) (115,020) (116,312) (116,312) (116,312) (116,312) (116,312) (116,312) (1,464,410) (1,545,063) 80,653

NET RENTAL INCOME 175,360 230,944 247,114 245,645 251,460 251,255 242,368 242,368 242,368 242,368 242,368 242,368 2,855,988 2,824,518 31,470
OTHER INCOME
5914 - Vending Income 0 0 0 0 0 0 0 0 35 0 0 35 70 140 (70)
5920 - Late Charge Income 750 3,950 1,600 2,045 3,483 2,150 1,000 1,000 1,000 1,000 1,000 1,000 19,978 11,750 8,228
5924 - NSF Check Fee Income 0 0 0 0 60 (10) 70 70 70 70 70 70 470 770 (300)
5926 - Administrative Fee (400) 0 0 0 0 0 0 0 0 0 0 0 (400) (400) 0
5930 - Resident Damages 0 0 70 0 1,305 (1,230) 0 0 0 0 0 0 145 0 145
5932 - Cleaning Fee 0 0 0 0 300 (250) 0 0 0 0 0 0 50 0 50
5936 - Parking Permit Fees 0 50 50 0 0 50 0 0 0 0 0 0 150 0 150
5951 - Application Fees 4,250 1,250 950 1,200 800 1,600 500 750 750 1,000 2,500 2,500 18,050 13,450 4,600
5952 - Onetime Pet Fee Income 0 1,700 400 400 0 400 0 0 0 0 0 0 2,900 0 2,900
5953 - Fines 50 0 0 450 50 450 0 0 0 0 0 0 1,000 50 950
5954 - Replmnt Keys/Cards/Lock Outs 50 260 550 310 125 360 50 50 50 50 50 50 1,955 600 1,355
5956 - Utility Income 0 4,509 35,715 11,083 10,055 21,191 12,657 12,657 12,657 12,657 12,657 12,657 158,495 131,102 27,393
5957 - Transfer Fees 0 750 750 750 550 500 0 0 0 0 0 0 3,300 0 3,300
5964 - Monthly Pet Rent Income 44 90 255 266 240 241 75 75 75 75 75 75 1,586 870 716
5146 - Relet Fee 750 250 0 301 4,630 (3,130) 0 0 0 250 250 250 3,551 1,500 2,051
TOTAL OTHER INCOME 5,494 12,809 40,340 16,805 21,598 22,322 14,352 14,602 14,637 15,102 16,602 16,637 211,300 159,832 51,468
TOTAL INCOME 180,854 243,753 287,454 262,450 273,058 273,577 256,720 256,970 257,005 257,470 258,970 259,005 3,067,288 2,984,350 82,938

Page 15