Traditions Investor Package

PRO FORMA
Year 1 Year 2 Year 3 Year 4
May 2021 May 2022 May 2023 May 2024
REVENUE % Per Unit
Gross Potential Rental Revenue $4,540,731 100.00% 18,309 4,874,781 5,166,643 5,348,932
Vacancy (319,238) 7.03% (1,287) (308,436) (308,436) (308,436)
Loss to Lease (136,222) 3.00% (549) (73,122) - -
Concessions - 0.00% - - - -
Bad Debt (18,163) 0.40% (73) (19,499) (20,667) (21,396)
Model Unit (18,468) 0.41% (74) (18,468) (18,468) (18,468)
Employee Unit - 0.00% - - - -
Other Loss - 0.00% - - - -
Effective Rental Income 4,048,640 89.16% 16,325 4,455,256 4,819,073 5,000,633
OTHER INCOME
Other Income 177,441 3.91% $715 246,008 265,288 275,900
Utility Reimbursements (RUBS) 230,580 5.08% $930 230,580 239,808 249,396
Total Other Income 399,153 8.79% $1,609 476,588 505,096 525,296
Effective Gross Income 4,447,793 98.0% 17,935 4,931,844 5,324,169 5,525,929
EXPENSES FCM % Per Unit
Payroll (334,800) 7.53% 1,350 (338,416) (345,184) (352,088)
Repairs and Maintenance (192,200) 4.32% 775 (194,276) (198,161) (202,125)
Contract Services - 0.00% - - - -
Turnover (93,000) 2.09% 375 (94,004) (95,885) (97,802)
Utilities (229,400) 5.16% 925 (231,878) (236,515) (241,246)
General/Admin (62,000) 1.39% 250 (62,670) (63,923) (65,201)
Marketing (45,880) 1.03% 185 (46,376) (47,303) (48,249)
Insurance (147,776) 3.32% 596 (149,372) (152,360) (155,407)
Franchise Tax - 0.00% - - - -
Other - 0.00% - - - -
Real Estate Taxes (604,095) 13.58% 2,436 (739,473) (770,143) (802,010)
Property Management Fee (133,434) 3.00% 538 (147,955) (159,725) (165,778)
Total Expenses (1,842,584) 41.43% 7,430 (2,004,419) (2,069,199) (2,129,906)
Net Operating Income 2,553,951 57.4% 10,298 2,927,425 3,254,970 3,396,023