Q4 - 2010 Presentation - Boardwalk REIT

Revenue Maximization StrategyTwo basic approaches:1) In a strong market, focus is maximizing market rent on turnover suites,minimal to no incentives, and lower occupancy to help confirm marketrents are being achieved. Higher rental rates help offset loweroccupancy, generating maximum revenue.2) In a weaker market, focus is on decreasing rental rates and offeringincentives to increase occupancy. Higher occupancy helps offset lowerrents and higher incentives (90% of a lower rental price is better than 0%of a higher rental price), generating maximum revenue.In both strong and weak markets, constant focus on customer loyaltyprovides most stable revenues.Boardwalk Boardwalk Real Estate Real Estate Investment Investment Trust Trust www.BoardwalkREIT.com 8