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Property Management HSI Management believes that the only true way to ensure that assets achieve optimum performance is through successful execution. HSI is committed to hiring individuals who possess the exceptional strengths necessary to meet the owner’s goals and objectives. Our team of highly trained and carefully selected professionals is empowered to make sound business decisions while the core management team functions as a support network for on-site associates. Our professionals have earned national designations from respected organizations such as Institute of Real Estate Management, National Apartment Association, Building Owners and Managers and other various associations. HSI was one of the first companies in Georgia to obtain the most respected designation of Accredited Management Organization awarded by the Institute of Real Estate Management. This is the highest designation given to companies that have met stringent standards of experience, financial stability, integrity and ethics. Such a diverse spectrum of talent allows our HSI team to focus our collaborative efforts on identifying and implementing a strategy tailored to each client’s specific needs. Critical analysis and clear communication are required when orchestrating each property’s business plan, as each asset is unique and consists of its own set of challenges and opportunities. Applying our in-depth market knowledge, we also help clients change course, or fine-tune their plans, should market conditions change or new opportunities arise. Following our guiding principles of Plan, Execute and Deliver, HSI will: PLAN by using a sound fiscal structure and maintaining our fiduciary responsibilities to the residents, owners, investors, and regulators we serve. EXECUTE according to plan by balancing the operational needs of the property and its residents, while remaining fiscally responsible and practicing the fundamentals of asset management - capital preservation, income generation, and capital growth. DELIVER quality service, well-maintained housing and financial stability; realizing the property’s economic and social potential. HSI has significant experience managing properties financed through a variety of programs, including Fannie Mae, HUD, Rural Development and conventional financing. Housing Systems, Inc. currently owns properties that are not only conventionally financed, but also are tax-credit or bond-financed properties. As mentioned previously, we also provide property management services for a diverse group of third-party owners and investors. As experienced managers, we treat each property as if it were our own and are able to take a highly practical and hands-on approach to these engagements; combining our operational, financial, and marketing expertise to achieve each client’s goals. General Objectives: Administers and monitors the financial transactions necessary for the operation of the property. Provides safety, security, satisfaction and a general feeling of well-being for the residents occupying the assigned building. Maintains the building to the standard of the owner(s). Provides professional and timely service for the people working in or using the facility. Maintains a formal and harmonious relationship with the residents and visitors to the building. Attends monthly meetings required by the owner(s). Arranges for financing in case of need for major capital repairs. Ensuring that preventative, corrective and mechanical maintenance, building systems, custodial care, refurbishment, and renovations are handled in a cost-effective and professional manner. Specific Responsibilities: Administrative: Hires, terminates and supervises all property employees as required for the proper repair, restoration, operation, and maintenance of the property. Collects all rent and common element fees from the residents. Disburses expenses related to the property. Marketing and leasing units as well as handles all evictions. Maintains all financial and maintenance records, agreements, contracts, etc., required for the management, supervision, and control of the property. Reports on a monthly basis to the owners on all aspects relating to the operation of the property, including summary financial statements and analysis, reports on non-recurring construction, renovations, repairs, etc., which affect the general management and operation of the property. (See sample reports) Maintains and controls all banking in order to provide sound operating funds. Maintenance: Maintenance of a complete inventory of all mechanical equipment. Managing work orders and negotiating yearly maintenance contracts, balancing quality service with competitive pricing. Protecting the owner's investment in the property and ensuring that the physical structure of the buildings is well maintained. Overseeing on-site superintendent's responsibilities and carrying out regular daily/weekly and scheduled inspections. On-Call Duty available based on the requirements of the properties. Employing preventative maintenance procedures and performing inspections regularly to identify or solve maintenance problems before more significant problems develop. By providing state-of-the art accounting and property management systems, offering full-range reporting and analysis, and leveraging our corporate resources and partnerships, HSI is prepared to provide and deliver these property management services to your property. Our goal is to realize the property’s economic and social potential, creating a new benchmark within the community and setting the standard for quality housing. We look forward to serving your property and proving our value. Accounting and Reporting HSI manages both conventional and affordable multi-family housing properties, all of which have individual needs and reporting requirements. These requirements have afforded HSI the opportunity to become skilled in a number of software packages. For properties that are classified as affordable, HSI operates on-site with i-CAMTM. i-CAMTM simplifies daily tasks such as rent collection, banking, compliance, maintenance, traffic, waiting lists and unit leasing activities. The software is not only capable of handling all of HUD’s TRACS requirements, but also serves many other purposes. A maintenance work order system, a maintenance parts and unit inventory system, a purchase order system with budget monitoring capabilities, re-certification and voucher processing and various reporting are all functions provided by i-CAMTM. HSI uses ACCPAC as our accounting package. It is capable of producing balance sheets, general ledgers, income statements, budgets, projections and various reports for analysis. In conjunction with accounting reporting, HSI also provides Management‘s Monthly Owner’s Reports that summarize the property’s operations for the given month. These reports include property information, leasing and renewal information, market information, property improvements completed and income and expense variance explanations. Asset Management & Property Repositioning Housing Systems, Inc. provides asset management, investment management and reporting services to its equity partners, real estate owned portfolios and third party clients. Through the efforts of our Development Team, our primary objective is to represent the owner on a day-to-day basis, and communicate clearly the established goals and objectives. We offer: Oversight, Analysis & Reporting of Construction Process Direct Management of Rehabilitation Programs Budget Review Approvals Finance Management & Analysis Income/Expense Management Investor Management & Reporting Acquisition/Disposition Due Diligence Analysis Associated Legal Processes Services include but are not limited to: Preparation and Implementation of an Annual Business Plan Operating Budget Reviews, Analysis, Approval & Re-Forecasting Analysis of Monthly Operating Statements Analysis of Weekly Occupancy Reports Documentation and Communication of Loan Agreement, Partnership Agreement & Operating Agreement Tracking & Coordinating Interest Rate Reductions, Escrow Releases & Other Lender Requirements Disposition & Refinance Analysis & Recommendations Analysis & Monitoring of Insurance Bid & Claim Process Compliance & Other Specialty Services HSI’s Compliance Team possesses the technical expertise in key service areas for specialized housing programs. Our services include: Training Consulting Affordable Housing (HUD Section 8 and 236, LIHTC, Private Activity Tax Exempt Bond and 501c (3) Tax Exempt Bonds) In order to maintain the highest level of professionalism, HSI implements a variety of training programs. Every step is carefully taken to keep our employees on the cutting-edge of performance and industry standards. Employee training classes, shopping reports and industry conferences are just a few of the ways we ensure our associates stay in that top tier. HSI has a long history of providing consulting services, including staffing recommendations, review of work flow patterns and preparation of policies and training procedures. On many occasions, our team of experts has been called upon to revise policy manuals and customize training programs that are specific for each property’s compliance needs. HSI can assist our clients with a full range of affordable housing related issues, such as: Section 8 Contracts Renewals Opt outs “Troubled Projects” REAC inspections Management Reviews Work outs Rent Increase Applications Budget Based AAFs, including special adjustments OCAFs Management of Escrow Accounts Budget Based AAFs, including special adjustments OCAFs Additions to Your Portfolio Transfers of Physical Assets (TPAs) Section 8 Contract assumptions Market Rent Surveys Section 8 Renewals Mark to Market Mark Up to Market AAF rent increases Physical Inspections Responding to REAC Preparing MIO plans Annual unit inspections State and Local Agency Compliance Reporting LIHTC/Tax Exempt Bond Compliance LIHTC Investor Reporting Resident Acquisition and Rehabilitation Income Certification (LIHTC)

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