This document provides a summary of June performance and goals for the second half of the year for IH Jacksonville. Key points include: - Rental rates increased 3.5% on average for renewals and turns in Q2. Occupancy increased to 89% in June. - Collections improved with delinquency decreasing to 5.1% in Q2 from 5.8% in Q1. - NOI and NCF exceeded targets for the first half of the year at 51.8% and 42.1% respectively. - Goals for the second half include increasing occupancy 1% per month through focused leasing efforts and modifying commission structures.

1. Jacksonville Update
7/23/2014

2. June Performance for Financials
• R&M:
• R & M Spend (12 wk). $1275
• % work by 3rd Party Contractors (12 wk). 50%
• Work order aging. 17 % (KPI 7/18/14)
• Maintenance Satisfact’s score. 4.30%
• Maintenance Confirmation Rate. 54% (74% 7.18.14)
• Leasing:
• Renewal Rent increase: 4% trending up
• Turn rent increase 5.6% (T-3) trending up
• Physical Occupancy 89.6% (Budget 85.3)
• % Leased Vs. Leasable 95.9%
• NER. 1.5% over under-written –( 3% )
• Days from Move-out to Move-in 27 days
• Financials:
• NOI 49.3% (target 50.1%)
• Net Cash Flow. 42.1% (target 41.5%)
• Total A.R. Delinquency rate 5.2% (June 2014)
• Rehab:
• Days to complete Rehab. 37
• 1.9 Avg. Days / $1000.
• Move-in related work-orders/home 11% (17 total)
• Turn. Committed spend/property $2008
• Turn. Days to complete 7 days
Scorecard
4 Week Average as of 7.18.14

3. JAX Facts

5. • The economy of Jacksonville, FL is the driving force behind north Florida’s
economy.
• The city of Jacksonville comprises all of Duval County; IH Jacksonville buys
homes in Duval and the surrounding counties: St. Johns, Clay and Nassau.
• Jacksonville job growth is at 4.29% over the most recent 12 months and the
June unemployment rate was 5.9%.
• The largest population is employed in sales/office/admin;
management/business/finance; and production/transportation/material
moving.
• The average weekly wage for Jacksonville MSA, Florida in 3rd quarter, 2013
was $819. This would be equivalent to $20.48 per hour or $42,588 per year,
assuming a 40-hour week worked the year around.
• The fastest growing occupations in Jacksonville MSA is expected to be in the
construction industry, oil/mining, genetic counseling and solar energy.
Market Overview

6. • The 2013 population of Jacksonville MSA, Florida was estimated at 1,394,624.
This represents a 24.22 percent increase from 2000.
• IH Jacksonville housing market is typically a 3 bedroom sfr, which is
represented by the majority of properties in our portfolio.
• A rated St. Johns County is ranked the third best school district in Florida,
• Jacksonville offers world-class health care, home of one of only three Mayo
Clinic campuses.
Market Overview Continued

7. Acquisitions Projections

8. • IH4 is purchasing 1995 and newer, 9.7% yield, “A” areas, <$22,000 rehab budget, 3 or 4
bedrooms. We are budgeted to purchase 35 homes per month in Fund IV
• 1813 high quality homes purchased since October 29, 2012
• Well located, high quality homes with an average age of 1998
• Efficient, disciplined and analytical buying strategy has allowed IH Jacksonville to acquire an
excellent portfolio of single family residences
• Acquisition vendors are communicated with weekly and late invoicing is not an issue
• Brokers are expected to set appointments for inspections, WDO, roof inspections and budget
walks; utilities are expected to be on at all properties. If not, bw cannot be done and broker
will pay a $50 trip fee
Acquisitions

10. 180 Properties Aug - Dec (27,983k)

11. 0.72
0.65
0.74
0.77
0.81
0.75
0.72
0.76
0.72
0.68
0.82
0.71
0.84
0.71
0.75
0.8
0.69
0.82
0.6
0.65
0.7
0.75
0.8
0.85
0.9
Percentage Escrow Closed
75% Avg. Escrow to Close

12. 24,559
22,614
15,703
14,625
23,743
23,114
15,586 15,533
Mar Apr May Jun
2014
1,446
1,453
1,430
1,454
1,451
1,444
Mar Apr May
2014
Expected
Actual
Expected
Actual
Actual
Expected
Expected Rehab: $19,375
Avg. Actual Rehab: $19,949
Expected Rent: $1443
Avg. Actual Rent: $1450
Expected
Expected
Expected
Expected
Actual
Actual
Actual
Actual
We are right in line with our rehab expectations. We have exceeded rent expectations.
Fund 4 Rehab Fund 4 Rent

13. RISKS
• Economic Downturn:
• Increased Rehab costs:
• The increase in A quality Apartments:
Opportunities
• Economic Downturn:

14. Inventory Analysis
Prior 7-12 Months
07/16/2013 -
01/15/2014
Prior 4-6 Months
01/16/2014 -
04/15/2014
Current - 3 Months
04/16/2014 -
07/16/2014
Total # of Comparable
Sales (Settled)
857 360 507
Absorption Rate (Total
Sales/Months)
142.83 120.00 169.00
Total # of Active Listings 311 (Active on
01/15/2014)
438 (Active on
04/15/2014)
541 (Active on
07/16/2014)
Months of Housing
Supply (Total Listings /
Ab. Rate)
2.18 3.65 3.2
Median Sale & list Price, Dom, Sale/List % Prior 7-12 Months Prior 4-6 Months Current - 3 Months
Median Comparable Sale
Price
184,500 179,900 190,103
Median Comparable
Sales DOM
38 53 46
Median Comparable List
Price
194,900 209,900 214,450
Median Comparable
Listings DOM
138 105 54
Median Sale Price as % of
List Price
98 % 97 % 98 %
Supply and Demand

15. • Median sales price in markets that IH Jacksonville buys +6.22 % / YTD ending March
2014 perFHFA.gov
• Months of Inventory is 3.2 which indicates an undersupply of housing
• Median sales price in IH Jacksonville markets is $185,000; IH Jacksonville average
sales price is 14% below the median; IH4 average acquisition price is $156,554, 15%
below median
• IH Jacksonville bank owned market typically sells at 10.6% below market value
which indicates we negotiate a greater discount
• IH Jacksonville short sales market typically sells at 12% below market value, also
indicating a greater discount

16. REVENUE

17. Competitive Landscape-Rental rate/Vacancy
Q1
• Average rent growth (Renewal/Turn)
– IH: .6%
– Jacksonville (SFR): 3%
– Multifamily: 1.8%
• Leased occupancy
– IH: 93%
• Physical occupancy
– IH: 79.3%
– Multifamily (Jacksonville): 92.6%
• Economic occupancy (% of GPR minus gain/loss to
lease and concession divided by GPR)
– IH: 99.61%
Q2
• Average rent growth (Renewal/Turn)
– IH: 3.5%
– Jacksonville (SFR): 1.5%
– Multifamily: 2% (expected)
• Leased occupancy
– IH: 94.9%
• Physical occupancy
– IH: 89%
– Multifamily (Jacksonville): 92% (estimate)
• Economic occupancy (% of GPR minus gain/loss to
lease and concession divided by GPR)
– IH: 99.5%

18. Pricing
• IH Jacksonville expects a minimum of 3% rent growth for turns and renewals
• Rent may trend downwards after peak leasing season (September through December)
• Pricing responsibility
• Director of Leasing, RVP and VP of Acquisitions
• Utilizes the Scheduled M/O next 30 days-with eviction report for premarketing purposes
• Pricing set 30 days in advance and all premarketed homes publish to the website 25 days
prior to lease expiration

19. Forecasting/Goal Setting
Pricing
• Premarket turns 5-10% above CMA or U/W (whichever is greater)
• Hold pricing for 3-4 weeks during premarketing phase
• If not leased at Rehab completion, rent decreased to 3%-5% above CMA or U/W (whichever is
greater)
• If on the market 3-4 weeks with minimal traffic, a new CMA is prepared and the rent is
decreased slightly below CMA or U/W (whichever is greater)
Lease Expiration Management/Lease Term:
• Invest in a Revenue Management system to effectively manage lease terms and maximize
revenue for shorter term leases (RentMaximizer available through Yardi)
• Manage lease start dates to avoid the 1st of the month and the last day
• Each lease will begin on the occupy date (not necessarily on the 1st or last day of the
month)

20. Revenue
Preleasing
• 100% of turns are preleased (2.7% of total inventory)
• Each resident is expected to take possession within 10 days or less from an
approved application
• Exceptions up to 30 days for relocations from out of state

21. Risks/Opportunities
Risks
• New construction of single family homes (70% homeownership in Jacksonville)
• Less restrictions on underwriting by banks and mortgage lenders
• Lack of significant competition from major institutional investors (may limit
Opportunities
• Above average job growth
• Low purchase prices (below national median) and high rent averages (exceeds national
average gross)
• IH brand more recognizable after more than a year in the market (excellent market
footprint through ILS, MLS and local Realtors)

22. Performance to Underwriting
Q1
• Leased properties: -4.3%
• Rolling 30: -6.1%
**Utilized NER reports month
ending**
Q2
• Leased properties: -3.3%
• Rolling 30: 2.1%
**Utilized NER reports month
ending**

23. Performance to Underwriting (cont.)
Current
• Leased properties: -3.2%
• Rolling 30: 1.7%
• PTU for leased properties remains
negative due to initial lease up
discounts for aged inventory;
however, this number continues
to trend upward based on
focused price increases for 2nd
generation leases
Same store comparison
• Leased properties improved by
16% (.6%+)
• Rolling 30 improved by 185%
(3.7%+)
**Current compared to the average
for Q1 and Q2**

24. Commission Strategy
Historical
• 45% paid to In House Agent if leases own listing
• 30% paid to In House Agent if another In House
Agent leases the home
• 45% paid to 3rd Party Selling Broker (if listed with
IH in the past) and 30% to the In House Listing
Agent
• 30% paid to In House Listing Agent and 10% paid
to Outside Realtor (if haven’t listed with IH in
the past)
• 5 month average of $136,394 paid out to
Agents, 3rd Party Brokers and outside Realtors
Proposed
• Pay 30% of 1st full month’s rent to the Selling
Agent (In House Agents)
• Pay $100 finders fee to any 3rd Party Broker or
Outside Realtor
• New structure would account for approximately
$33,300 paid out per month, would save
$103,094 per month and $721,658 for the
remainder of the year (based on comparison to
current structure)
**Based on 75 move ins per month with an average
commission of $444 and average rent of $1,480 per
sold listing**

25. Goals for Balance of Year (Leasing)
• Increase physical occupancy by 1% each month
• Decrease left to lease by 1% per month
• Resize In House Leasing team between 5-6 for market needs
• Increase gross potential and NOI through the following areas of focus:
• Increase maximum physical occupancy
• Maintain low leasing and renewal concessions (higher NER)
• Decrease current Agent commissions (modify current commissions structure)
• Shorter days on market (less vacancy loss)
• Maximize renewal rents and 2nd generation lease rates

26. Revenue: Current Occupancy
 Occupancy Trends

27. Revenue: Current Occupancy (Turn Times)

28. Revenue: Current Occupancy (Days to Lease)

29. Revenue: Current Occupancy (Renewal Rate Trends: Current)

30. Revenue: Current Occupancy (Renewal Rate Trends vs. Budget)

31. Revenue: Current Occupancy (Skip/Eviction %)
 Skip/Eviction %

32. Revenue: Lease Expirations
 Lease Spreading

33. Revenue: Rate Increases (Current)
 Rent Increases

34.  Rental Rates
Revenue: Rate Increases (Jan to June)

35.  Regional Comparison
Revenue: Concessions
 Concessions (% of Revenue)

36. Collections: Delinquency % (Previous End of Month)
 Delinquency %

37. Collections: Delinquency % (End of Month Trending)

38. Expenses: Turn Costs

39. Expenses: Repair and Maintenance Costs

40. Expenses: Repair and Maintenance Costs

41. Expenses: Utility Expenses
 Net Utilities

42. Renewals
• For the 1st half of the year, we renewed 232 leases or 56.3% at an
average rate increase of 4%
• The “Eligible” Renewals were at 65.5%
• Of those that did not renew:
• 27% Purchased a new home
• 14% Relocated out of Jacksonville
• 13% No Reason Given
• 12% Lost Roommate/Divorced/Death
• 9% Lost Job/Personal Finances
• 7% Eviction/Skip
• 6% Preferred Better Location/Crime Issue
• 5% Needed More/Less Space
• 4% Transferred to another IH Home
• 2% IH Decided to Not Renew
• 1% Unsatisfied – Maintenance/Management

43. A/R
• For the 1st half of the year, we had a delinquency rate of 5.4%
– We improved this from 5.8% in Q1 to 5.1% in Q2
7.20%
4.50%
5.80%
5.60%
4.50%
5.20%
0.00%
2.00%
4.00%
6.00%
8.00%
January February March April May June
Delinquency by Month
Delinquency

44. NOI
• For the 1st half of the year, our actual NOI was
51.8%. Our budgeted NOI was 50.1%.
0.00%
20.00%
40.00%
60.00%
80.00%
January Febraury March April May June
Actual NOI vs Target NOI
Actual NOI Target NOI

45. NCF
• For the 1st half of the year, our actual NCF was
42.1%. Our budgeted NCF was 41.5%.
0.00%
20.00%
40.00%
60.00%
January Febraury March April May June
Actual NCF vs Target NCF
Actual NCF Target NCF

46. Renewals
Q1
• Total Leases - 122
• Leases Renewed - 72
• Renewal Rate – 59.02%
• “Eligible” Renewal Rate – 66.67%
• Rate Increase – 3.3%
Q2
• Total Leases - 290
• Leases Renewed - 160
• Renewal Rate – 55.17%
• “Eligible” Renewal Rate – 65.04%
• Rate Increase – 3.9%

47. A/R
Q1
• Delinquency Rate – 5.8%
• Evictions/Skips – 6
– $27,251.75
Q2
• Delinquency Rate – 5.1%
• Evictions/Skips – 9
– $27,421.09

48. NOI
Q1
• Actual NOI – 47.6%
• Target NOI – 52.7%
Q2
• Actual NOI – 52.2%
• Target NOI – 45.2%

49. NCF
Q1
• Actual NCF – 35.9%
• Target NCF – 46.2%
Q2
• Actual NCF – 37.3%
• Target NCF – 35.3%

50. Risks/Opportunities
• Risks
– Home Buying
– Emerging/Changing Platform
• Opportunities
– Better utilization of technology and resources
• Revenue Management System
– Open Rent Maximizer available in Yardi Voyager allows for the
management of leases and leased Market Rents
– Emerging/Changing Platform

51. Goals for Balance of Year
• Complete the reorganization and implementation of the Community
PODS;
– Develop each team to work as their own business with each meeting their
business metrics
– Provide improved service to our customers
– Continue to reduce costs and improve NOI/NCF
• Reduce AR
– Decrease our delinquencies on an average below 3.5% for the remainder of
the year
• Continue to increase our rate growth and renewal %
– Increase our renewal rates by 4% in Q3 and Q4
• Reduce GA
– Office expenses

52. Concession Strategy
• Concession Percentage by Category YTD - $27,111
– Move In – 2%
– Other* – 28%
– Rehab – 7%
– Renewal – 41%
– Maintenance – 21%
• Total Concessions as a % of Rental Income – 0.27%
* We no longer use this Concession Code. In January and February, we used “Other” for all of the concessions.

53. Concession Strategy
• We have been consistently below the national average in our use of
concessions.
• Opportunities
– We have significantly reduced the renewal concessions. We are no
longer offering a concession to all renewals. We now utilize these to
close the deal with difficult renewals.
– Our maintenance concessions will continue to decline. We have
increased our communications with residents regarding their work
orders. We have daily and weekly meetings to discuss open work
orders. Also, as the pod is rolled out, we will continue to make strides
in communicating issues or delays with the resident.

54. COLLECTIONS

55. Collections
• Current Delinquency and Trend
– We ended Q2 at 5.2%.
– We our trending in the right direction. We are on pace to have our lowest delinquency yet in
July. We are expecting a delinquency below 3.5%.
– We reduced our delinquency by 12% from Q1 to Q2 by reaching out to delinquent residents
earlier and more often during the month
– We should see higher decreases than that in Q3 and Q4 as we continue to improve and fine
tune our processes.
• We are having weekly “Call-A-Thons” to reach out to all delinquent accounts.
• We have shut down Rent Café after the 5th to all residents that are late. We will open up Rent Café and
allow the resident to pay online if they provide us proof they have the funds in their bank account and
pay while we are on the phone with them. We use this as a negotiating tool to have them pay
immediately.
• We are working closely with our attorneys to get the evictions completed much quicker than before.
We have an APM that is working closely with the attorneys to place an emphasis on getting the
evictions completed and off of the books as soon as possible. This month, we expect to have all of the
delinquencies over 60 days evicted and out of the home.

56. Collections Continued
• Bad Debt
– Our bad debt YTD was 0.86% of income. This is well below our target.
– Our bad debt increased in June because we worked closely with our
attorneys to move the existing evictions through.
– Just 35% of the security deposits that we receive are being forfeited.
– We are trying to collect these debts in house now.
• At the end of the month, we call the resident and let them know they have an
outstanding balance.
• We try to work out a payment arrangement with the resident.
• We negotiate the amount of time that we will allow them to pay it off before
we file it against their credit.
• We are working with our in house attorney to establish best practices and a
policy to officially implement this process.

57. EXPENSES

58. CURRENT R&M COST
• 4 Week average - $1394
– The trending variance has been approximately ±4% per week.
• Highest categories of spending:
• HVAC ($832)
1. Equipment Failures
2. Normal Wear and Tear
3. Resident caused damages
4. Previous week’s annualized cost per home $171
• Landscaping ($212)
1. HOA Violations
2. Routine Maintenance
3. Resident caused damages
4. Previous week’s annualized cost per home $119

59. HVAC COST REDUCTION STRATEGIES
• Equipment Failure
– Changing of replacement guidelines for newly acquired homes.
• Changed the replacement criteria from pre 2004 to pre 2008.
• All units are inspected by a licensed HVAC Contractor and decisions are made off of those inspections.
– Looking at system repair vs. system replace.
• Age of the unit vs. cost of repairs vs. cost of replacement.
• How many times has it been repaired? How much have we already spent?
• Normal Wear and Tear
– Conducting repairs In-House.
• Dispatchers or technicians asking questions to try and solve the problem over the phone.
• Sending a technician before sending a vendor.
– Renegotiating pricing with vendors
• Standardizing labor rates and prices with vendors
• Looking at alternatives to OEM repair parts when possible.
• Resident Caused Damages
• Charging residents for damages or neglect.
• Billing residents for repairs related to misuse, lack of resident responsibility maintenance or resident caused
damage.
• Educating residents on their responsibilities and proper maintenance.
• Showing residents what they are responsible for and how to maintain it at the time of Orientation.
• Sending out a seasonal newsletter addressing resident’s responsibilities and how to perform those tasks such as filter
replacement and cleaning a drain line.

60. LANDSCAPING COST REDUCTION STRATEGIES
• HOA Violations
– Reaching out to HOA’s to determine an acceptable course of action for both parties.
• Approximately 95% of our homes are governed by an HOA.
• There are approximately fifty management companies that manage the associations. We are building trust relationships with them.
– Utilizing alternatives to sod such as Xeriscaping, Weed and Feed treatments, or seeding.
• State statutes for Florida Friendly landscaping (Xeriscaping) over rule HOA Covenants and Restrictions.
• When allowed or practical we are choosing to Weed and Feed, seed or sod with less costly grasses.
• Routine Maintenance
– Reducing the frequency of lawn maintenance on vacant homes to every other week.
• The current schedule was bi-weekly during the non-growing season and weekly during growing season.
• Given the current amount of homes in rehab and vacant this could save $100,000 based on an 8 month growing season.
– Performing landscaping repairs in-house.
• We have been able to complete some tree removals and a few large drainage jobs which saved approximately $8,000 last month.
• We are also scheduling more irrigation work in house.
• Resident Caused Damages
• Holding residents responsible for violations.
• This is dependent on when the violation was created, how long the home was occupied and what the lawn looked like at time of
move in.
• Holding resident’s responsible for unmaintained landscaping at time of move out.
• Resident’s deposits are being used to cover maintenance as required.
• Educating residents on the proper care and maintenance of their lawn.
• We are currently creating a piece for the next news letter that covers lawn maintenance.

61. GENERAL COST REDUCTION STRATEGIES
• Materials
– Purchasing materials with better or extended warranties.
• Products such as Moen or Glacier Bay which have limited lifetime warranties or Frigidaire or Lennox that have extended
warranties beyond the standard term.
– Purchasing materials that are of a better quality and can be repaired instead of replaced.
• Products such as Moen or Delta which are easier to repair and utilize a smaller pool of repair parts keeping costs lower.
– Purchasing parts in bulk to leverage savings.
• Purchasing bulk packs for products like toilet flappers or light bulbs.
• In-House Maintenance
– Problem solving over the phone.
• Having Dispatchers or technicians try and help the resident repair issues over the phone.
– Sending technicians before vendors.
• Dispatch technicians whenever possible.
– Continuous education of staff.
• Utilize programs such as Leasehawk, mentoring, cross training, and shadowing to increase skill levels.
• Continuous Improvement
– We are continuing to utilize the R&M Spending Tracker looking for ways to reduce spending.
– The Resource Manager, Vendor Manager, Director of Maintenance, Regional Vice President, and Regional President
continuously review pricing and push vendors to reduce their prices.

62. R&M GOALS
• Thoughts/Assumptions
– Improved Quality Control during Rehab would reduce R&M Spend.
• 20% of the total R&M Spend was within 30 days after lease start.
– More robust budgeting during Initial Rehab to reduce future R&M CapEx expense.
• What is the best course of action for the long term benefit of the asset?
– Q4 CapEx spending should decrease due to an anticipated reduction in seasonal issues.
• R&M Expense
– Q1 Annualized $ 383
– Q2 Annualized $ 304
– Goal $ 300
• R&M CapEx
– Q1 Annualized $ 1435
– Q2 Annualized $ 1039
– Goal $ 700

63. Jacksonville Turn Cost
Q1
• Average – $3,648.00
• Days - 19
Q2
• Average – $2,145.00
• Days - 7

64. Budget and the Turn Process
• Budgets: We meet at a turn home each week with the Superintendent
that prepared the budget, and a representative from each department to
create standards that are acceptable to all. Budgets are reviewed to
ensure standardized costs, and the best course of action with repairs or
replacement.
• Product Installed: We have narrowed down and standardized our product
line from Home Depot to products we have found that have a better
performance rate. During the turn process, when possible, we have been
going back on the manufacturer’s warranty to cover materials.
• Quality Delivered: We have focused on quality by limiting the amount of
vendors we use. These vendors have been graded as far as quality,
completion times, and customer service.

65. Cost and Time Management
1. Meeting HOA parameters and time constraints:
– Roof Replacement: Getting roofs approved by the HOA can take additional time. We have
selected one color, Weatherwood, that meets all HOA requirements to save time within the
Turn process.
– Submitting all required paperwork and documentation to the HOA ARB prior assigning the
home to the Superintendent
2. Reduction in material costs:
– Standardization of materials: We have narrowed down the lines of products we use to ones
that are easier to maintain or have better warranties.
– Paint materials cost: We have utilized Paint Drop by Valspar to perform paint color matching
on site. The cost is approximately 25% less. This has helped to reduce our time in rehab by 1
to 2 days. The paint is ordered at time of budget and is waiting at the home when the turn
starts. It reduces the need to travel back to the store in the event the paint does not match.
We have reached out to our tenants to use this service to purchase touchup paint prior to
move out in an effort to reduce time even more.
3. Pricing:
– Vendors: We are aggressively meeting with vendors to get the best pricing and targeting
smaller contractors with potentially less overhead.

66. Minimizing Budget Variances
• Following all houses with scheduled move in dates, allows for the adjustment of final services
when date changes are made which improves tenant satisfaction at move in, and decreases
the need for “Oops” gift cards and rent credits. This also helps to minimize HOA violations for
the yard.
• As Rehab and TURN completions are happening closer to the move ins, the need for touch
up cleans have decreased. When a mess is made after completion and the final clean, it is
now easier to determine who made the mess, and charge it back to them, instead of paying
for another clean.
• We have transitioned to a “one stop shop” to treat, clean, and guarantee flea eradication
instead of separately paying different companies for treatment and cleaning, which in turn
saves money for each house being treated.
• Weekly meetings with the PM’s to discuss tenant deposit reconciliations. We were receiving
numerous disputes about move out charges. This has helped to create more accurate
budgets and tenant charges.

67. Turn Cost and Speed Goals
• The National Goal is Less than $1500.
• Jacksonville’s Current Turn Cost is $1658 for a 4 week average. Last week
we were at $1126.
• Our current Turn Cost goal is $1000
• The National Goal of Turn Speed is Less Than 7 days.
• Jacksonville’s Current Turn Speed meets the National Goal, our 4 week
average is 7 days.
• Our current Turn Speed Goal is 6 days

68. TRIP CHARGES
• Trip Charge Policy
– Dispatchers inform residents that they need to cancel the appointment 24 hours in advance to avoid a trip charge
– If the resident is not home, the technician calls the resident.
– If they are unable to contact the resident or they are not available the technician tags the door and notifies Dispatch.
– Dispatch notes the work order, selects the appropriate flag, and alerts the Portfolio Manager with an Outlook Task.
– The Portfolio Manager accepts the task and enters the trip charge on the Resident’s Ledger.
– The Portfolio Manager creates a ledger entry to bill the resident for the trip charge.
– Once the above steps are completed the Task is completed.
– At the end of the week, the Dispatcher reviews the Tasks. Any open tasks are communicated to the Director of
Maintenance, Senior Portfolio Manager, and Regional Vice President.
• Thoughts
– There is not a report that can be pulled easily to verify trip charges have been charged
– There is not a system to determine if trip charges have been submitted correctly.

69. TENANT CAUSED DAMAGES
• Tenant Caused Damage Policy
– Technicians note the damage in the work order and upload pictures.
– Technicians notify Dispatch, who then marks the work order Tenant Caused, adds the appropriate flag, creates an
Outlook Task for the Portfolio Manager, and notifies the Vendor Manager, Field Operations Manager and the Director
of Maintenance.
– The Dispatcher provides the work order number and repair cost to the Portfolio Manager.
– Within 24 hours, the Portfolio Manager reviews the charges, the work order documentation, notifies the resident of
the charges and creates a ledger entry.
– The Outlook Task is completed once the above steps are finished.
• Thoughts
– There is not a report that can be pulled easily to verify tenant caused damage has been charged
– There is not a system to determine if tenant caused damage charges have been submitted correctly
– Uses same GL code for move out damages.

70. MAINTENANCE STAFFING AND OVERTIME
• Current Staffing
– 1 – Director
– 2 – Supervisors
– 2 – Dispatchers
– 1- Administrative Assistant (Reclassify to Dispatcher)
– 7- Technicians (One additional position available)
• Overtime (6% of Total Hours Worked)
– On Call Technician (50% of Overtime)
• Overtime is based on the amount of Emergency calls received.
• Periods with extreme temperatures tend to show an increase in overtime with HVAC calls counting for 56% of the emergencies.
– Dispatcher/Administrative Assistant/Supervisor (25% of Overtime)
• One person works approximately 8-10 hours per weekend depending on call volume.
• Two salaried Supervisors share in the rotation to reduce overtime.
– Technicians (25% of Overtime)
• Some overtime is necessary in order to complete work orders and not make additional visits.
• Emergency calls are assigned to technicians who may have worked an 8 hour day because they are the closest to the call.
• Overtime Reduction Strategy
– Currently interviewing to fill vacant technician position.
– Looking at weekend call volume and types to determine if weekend dispatching is justified.
– Accurately calculating travel time to a technician’s first job and ending their day accordingly to minimize overtime.
– Overtime must be approved.

71. REHAB STAFFING AND OVERTIME
• Current Staffing
– 1 – Director
– 2 – Construction Managers
– 10 –Superintendents
– 3- Administrative Assistants
– 4- Turn Technicians
• Overtime
– 1% of hours worked was overtime
• Overtime Reduction Strategy
– Staggered move in dates will allow an even work flow for the month.
– Overtime must be approved.

72. WORK ORDER SURVEYS
• YTD Average – 4.12
• Areas we do well
– Courteousness and professionalism of the technicians – 4.38
– Did the Maintenance Staff clean up – 92%
– Did the Maintenance Team ask if there was anything else prior to leaving – 74%
• Assuming a 60% in house work order completion ratio we feel this number is good. It does open the need to ask our contractors to ask the same question and report
back any issues to us.
• Areas we need work
– Quality of work – 4.08
– Were you notified of a delay – 34%
– Speed at which the request was handled – 3.86
• Action plan
– Continually work with technicians to improve their skill sets.
– Contacting residents daily to inform them of the status of work, ensuring they understand the delay.
– Push vendors to complete work faster and replace non performing vendors.
• Current Month – 4.24

73. MOVE IN SURVEYS
• YTD Average – 4.29
• Areas we do well
– Courteousness and professionalism – 4.67
– Orientation Staff Performance– 4.43
– Appearance of the interior of the home – 4.43
• Areas we need work
– Value received for rent paid– 4.07
– Issues fixed prior to move in– 46%
– Condition of the yard’s landscaping– 3.70
• Action plan
– Increase curb appeal to increase a resident’s idea of value.
– Work with Superintendents and contractors to reduce the items at Orientation and develop a sense of urgency to get
items completed.
– Work with Landscape contractors to develop a better curb appeal through aggressive watering and fertilization
schedules as soon as the home is acquired or received for turn.
• Current Month - 4.22

74. MOVE OUT SURVEYS
• YTD Average – 3.61
• Areas we do well
– Appearance of the interior of the home – 4.08
– Recommend to a friend or family member – 71%
– Appearance of the exterior of the home – 3.92
• Areas we need work
– Appearance of the yard’s landscaping – 3.00
– Were you asked to stay when you put in notice - 36%
– Value for the rent you paid – 3.46
• Action plan
– Work with Landscape contractors to develop a better curb appeal.
– New procedures have In House agents asking the resident to stay when they give notice.
– Increase curb appeal to increase a resident’s idea of value.
• Current Month – 4.15

75. CUSTOMER SERVICE SATISFACTION
GOALS
• Work Orders
– YTD 4.12
– Current 4.24
– Goal 4.4 (Current National YTD goal is 4.15 and Satisfacts index is 4.35)
• Move In
– YTD 4.29
– Current 4.22
– Goal 4.4 (Satisfacts Index is 4.34)
• Move Out
– YTD 3.61
– Current 4.15
– Goal 4.0

76. INSURABLE EVENTS
• There was one insurable event with a remediation cost (fire damage) of $17,412.17.
Payment received from the insurance company was $16,230.99.
• A further review of potential insurable events showed that the costs involved were below the
amount need to turn in for an insurance claim.