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1 LEASING SERVICES PROPERTY MANAGEMENT ASSET MANAGEMENT FINANCIAL SERVICES MAINTENANCE SERVICES BROKERAGE SERVICES CONSTRUCTION SERVICES

2 NEW ENGLAND'S FULL SERVICE REAL ESTATE INVESTMENT FIRM Elm Grove Companies is a full service real estate investment firm operating throughout New England. We have multiple offices in New Hampshire and Central Massachusetts. Our corporate office is located in Manchester, NH. The Elm Grove family of companies is made up of Elm Grove Realty, Elm Grove Property Management and Kindler Development Group. Together our companies are active in all aspects of real estate investments; from real estate brokerage to in-house and fee based property management and a full suite of construction and maintenance services. Elm Grove is much more than a development and real estate investment company. We understand a greater responsibility to the communities we serve. We employ a holistic approach to property development and understand the value of transforming neighborhoods one building at a time. Our principals and employees are active in local charity efforts and can be counted on to participate as volunteers when needed. We look forward to discussing how we can help your investments flourish!

3 MEET THE ELM GROVE TEAM David acts as principal and head of operations and construction for Elm Grove Companies. He oversees all development and renovation projects. For over 15 years, David was directly in charge of all property management, maintenance and construction for a portfolio of multifamily apartments that numbered over 300 units. He has been involved with projects including land subdivision and development, new home construction, commercial and residential condo conversion, commercial condo association management, fire renovations and lead hazard projects. He is a licensed home inspector, a licensed lead hazard contractor and mold specialist. DAVID SCHLEYER David is an involved member of the community serving on the board of directors of Intown Manchester, VOPAR and The Way Home. He was recognized as the emerging leader of year in 2010 by the NH Charitable Foundation. He is a graduate of the Leadership Manchester Program. He was selected to the Union Leader s list of 40 under 40. Newton acts as principal and head of acquisitions and finance for Elm Grove Companies. He is formally educated in Economics and Finance having graduated Magna Cum Laude from Syracuse University and with honors from an overseas program of study in International Finance and Banking at Oxford University. He has completed the Harvard Business School Real Estate Executive Seminar. His career started in the investment banking industry in New York City at Lehman Brothers where he worked in the mortgage trading group securitizing residential mortgage backed securities. He then spent a number of years in the commercial real estate brokerage with Stebbins Commercial Properties before partnering with David Schleyer in NEWTON KERSHAW III Newton is Chairman of the Board of the Manchester Development Corporation and a trustee of the Manchester Historic Association. He is a past board member of the Manchester Young Professionals Network, past Green Buildings Committee Chair at the Greater Manchester Chamber of Commerce and past Finance Committee Member at The Moore Center Services, Inc., the area non-profit agency supporting individuals with developmental disabilities and acquired brain disorders. He is a graduate of the Leadership Greater Manchester Program. Chris acts as Chief Operating Officer for Elm Grove Companies. Chris graduated magna cum laude with a bachelor s degree in communications and public relations, with an emphasis on marketing from Florida Atlantic University. Prior to joining Elm Grove Companies, Chris held such positions as Director of Marketing for Bainbridge Companies, Senior Leasing Manager, Corporate Trainer and Area Director for Gatehouse Group and he was most recently the Director of Property Management for Cambridge Management, responsible for a portfolio of over 2000 apartment units, and a staff of over 120 employees. During his career, he has specialized in the branding and revitalization of distressed assets. Additionally, Chris has been personally responsible for the marketing and lease-up of a dozen brand new apartment communities in the Southeast USA. CHRIS SCHLEYER Chris is a licensed NH Realtor and a member of the National Apartment Association (NAA). Chris participated in the 2012/2013 class of Leadership Greater Manchester and is the past Marketing Committee Chairman for the University of Florida s Residential Property Management Advisory Committee. Chris is currently a member of the Manchester Board of Mayor and Alderman s substandard housing commission and a board member of the Manchester Community Music School.

4 MEET THE ELM GROVE TEAM Mark E. Roy acts as a Managing Broker for Elm Grove Realty. He studied business at Western Kentucky University and has created success for himself across a variety of industries including real estate, construction, and government. Mark is a seasoned real estate broker specializing in traditional buying and selling, buyer representation, multi-family analysis, auction analysis, wholesaling, flipping, and consulting. Prior to the creation of Elm Grove Realty, Mark was the Owner of The CM Roy Group Real Estate. Mark has a vast construction background as the Director of Business Development for Premium Builders, Inc., and Owner of Kirby Construction. Mark has also served the community as an elected official, representing Manchester s North End on the Board of Mayor and Alderman. Over three terms he served two mayors and on multiple standings and special committees. MARK E. ROY Matt acts as the Director of Operations for Elm Grove Companies. His focus is Operational Excellence, including cost savings, efficiency, high quality workmanship, and excellent customer service. Matt graduated magna cum laude from Tufts University with a Bachelors of Science in Computer Engineering and summa cum laude from Worcester Polytechnic Institute with a Masters of Science in Electrical and Computer Engineering. Prior to joining Elm Grove Companies, Matt contributed to a variety of defense electronics programs as an engineer at BAE Systems in Nashua, NH. Matt was part of the Leadership Development Program, which included technical curriculum and leadership training, while working on software, hardware, integration and test, systems engineering, project management, and new business development. During Matt s career at BAE Systems, Matt also built a portfolio of multifamily apartments in Southern NH, utilizing Elm Grove Companies property management. This enabled Matt to grow his portfolio in the trusted hands of Elm Grove, while focusing on the demanding work at BAE Systems. MATTHEW MENNING Matt serves on Digital Federal Credit Union s (DCU) Board of Directors. Matt shares DCU s vision that All Members Achieve Their Financial Goals. Matt acts as Vice President of Finance and Accounting with a focus in financial reporting, accounting and financial management along with cash flow oversight. Matt leads a team to ensure accurate and timely reporting and analysis is sent out to portfolio owners on a monthly, quarterly and yearly basis while ensuring proper cash flow management practices are followed. Matt graduated from the Whittemore School of Business and Economics at the University of New Hampshire with a Bachelors of Science in Finance. Prior to joining Elm Grove Companies, Matt was most recently part of a team at State Street Bank which oversaw the accounting, trade and cash management of a variety of mutual funds. MATT VLANGAS Matt currently sits as Vice Chair of the Manchester Heritage Commission which oversees the preservation of historical districts, through outside development, within the City of Manchester.

5 MEET THE ELM GROVE TEAM Joshua Hamel acts as president of Kindler Development. Joshua has 20 years of construction experience ranging from large commercial renovations and builds, to land development and residential new construction. Joshua is a licensed lead hazard contractor and has overseen a large number of lead renovations in NH. Prior to the creation of Elm Grove Companies, Joshua specialized in framing and structural build. Joshua was the owner and operator of a 40 employee strong construction company capable of building out over a quarter million square feet of framing a year. JOSHUA HAMEL Joshua sits on the board of the Manchester Masonic Foundation, a charitable fundraising organization, and is a trustee of the Manchester Historical Association. Jeff acts as General Manager of Construction Operations with a heavy focus on operational efficiency of field operations, scheduling, job costing, and project accounting. Jeff works to ensure projects are completed with a consistent focus on success and excellence. Jeff graduated from the University of Maine where he received his Bachelors of Science in Construction Management Technology. Jeff has experience in many aspects of construction including, residential framing and siding, heavy civil construction job engineering, and residential project management. Jeff has a strong background in building science as well as energy efficient construction, having built a number of Energy Star certified homes. Prior to joining Elm Grove Companies Jeff most recently was CEO of a NH based Startup Company; successfully growing the company from a vision to a tangible product that is now getting exposure at the national level. JEFF KELLEY Jeff has served as National Director to the NAHB on behalf of the NH Home Builder Association, as Chairman of the Board for the Government Affairs Committee of the NH Home Builders association, and as a board member on the NH EESE board working to ensure NH home owners have access to safe and affordable energy efficient solutions.

6 PROPERTY MANAGEMENT RESIDENTIAL, COMMERCIAL, MULTI-FAMILY, CONDO ASSOCIATIONS WE ARE YOUR INVESTMENT PARTNERS. WE REMOVE THE WORRY SO YOU CAN ENJOY YOUR INVESTMENT. Elm Grove Property Management has been managing multi-family properties, condo associations, and complexes throughout New Hampshire and Massachusetts since Elm Grove is currently managing 1200 plus residential and commercial units. We offer a wide array of services to make your investment property experience simple and profitable. Our experienced team will keep your investment property running efficiently by monitoring expenses while keeping your property appealing to existing and prospective residents. We take the hassle out of property management so that you can enjoy peace of mind as an investment owner. Leasing Services When it comes to leasing units, our seasoned portfolio managers will develop a marketing and advertising strategy customized for your individual property. Our advertising capabilities include, online marketing and listing, social media marketing, print advertising and more. Our agency of record, Burke Advertising, assists our companies with advertising and marketing strategies. Our goal is to maximize occupancy with quality tenants. As your partner, we will retain tenants by ensuring their satisfaction and delivering on customer service. Assessing market rent amount Coordinating the advertising for the property for rent Showing property to potential tenants Screening potential tenants Procuring lease Collecting security deposit Performing move-in inspection Coordinating routine maintenance issues while property is vacant Financial Services To ensure precision, we utilize a fully integrated property management accounting software. We manage our clients finances with attention to detail to preserve the property s fiscal health. Accounts Receivable and Accounts Payable Deposit rent into owner s operating account Collect up front costs from new tenants and deposit into owner s escrow account Maintain separate interest-bearing security deposit escrow account Provide monthly and annual operating statements including copies of bills Regulatory Compliance Multiple payment options Audit and Tax Preparation Asset Management Management Services We handle all of the day-to-day responsibilities with proactive management that establishes resident confidence. As an owner, you know that profitability comes from having your units occupied and managed effectively. At Elm Grove we know how to help you achieve the goals you have for your investment. Collecting rent Notifying tenants with a pay notice when they are late Assessing and collecting late fees Coordinating evictions Receiving maintenance requests from tenants Dispatching staff to fulfill requests and following up with tenants Performing regular inspections as well as move-out inspections Reconciling security deposits Strategic long-term planning including recommendations for long-term maintenance issues, potential rent increases, etc. Other tenant relations Maintenance Services In addition to our robust & skilled maintenance team, if improvements to your property are needed, we work with several trusted and qualified contractors and vendors. Keeping a well maintained property will only increase it s value for tenants, and future buyers. On call maintenance 24/7 for emergencies Arrange for cleaning, painting, repairs and lock service upon move out Completing routine and ordinary maintenance requests. Owner will be consulted on major repairs Obtaining bids and negotiating capital improvement contracts if necessary Pest control and treatment Maintaining laundry facilities and deposit laundry income into owners account Coordinating snow plowing, sanding, salting and removal Landscaping / yard care

7 TECHNOLOGY ELM GROVE COMPANIES At Elm Grove Property Management we utilize technology to better serve our clients and customers. Following is a list of some of the tech solutions we are currently using and how they are helping us provide superior service. RENT MANAGER SOFTWARE Rent Manager is a powerful property management software which tracks and manages all customer, client and vendor activity. Rent Manager integrates powerful tools such as CRM, Service Manager, Resident Ledgers, Marketing and Accounting to effectively manage all aspects of customer and asset management. Online Resident Service Request App Online Payments App Online Owner Portal Rent Manager App Suites for resident account information and service orders Website Integration for marketing availability Robust Reporting Features MAP COMMUNICATIONS MAP Communications is a 24/7 live answering service for managing after hours emergency service calls. Service calls are pre-screened and routed as necessary to Elm Grove s maintenance dispatch. Emergencies are responded to 24/7. DIAL MY CALLS Dial My Calls is an application that allows for mass broadcasting to residents of a given building or group of buildings. Applications include: Snow Emergency Alerts Utility Outage Alerts Life Safety/Security Alerts MULTIPLE LISTING SERVICE Our agents are licensed Realtors and have access to the local MLS. We use MLS to advertise apartment rentals. MLS listings push to Zillow, Realtor.com and many other real estate advertising sites. ELMGROVECOMPANIES.COM The Elm Grove Companies website has owner and tenant portals where clients and customers can pay online, request service online, communicate via and receive news and updates.

8 FAQs ELM GROVE COMPANIES HOW LONG HAS ELM GROVE BEEN IN THE PROPERTY MANAGEMENT BUSINESS? Elm Grove Property Management (EGPM) was formalized in Elm Grove s principles have been in the property management business for over 15 years. Collectively, we have managed thousands of apartments in Florida, Massachusetts, Connecticut and New Hampshire. We have a decade s worth of experience managing large scale luxury and affordable apartment complexes in Florida, as well as, small and medium sized portfolios of multi-family housing in New England. In total, we have managed in excess of 10,000 apartment units over the past 15 years. WHAT SERVICES DO YOU PROVIDE? EGPM provides full services property management solutions. Resident placement and management, rent collections, routine and emergency service calls, evictions, bill pay, apartment make ready and bookkeeping. We can also provide asset management, capital improvement planning, budgeting, construction and real estate brokerage services. HOW MANY APARTMENTS DO YOU MANAGE NOW? Elm Grove Property Management currently manages over 1,200 units located throughout New Hampshire and Massachusetts. HOW MANY PROPERTY MANAGERS DO YOU HAVE? Elm Grove employs a talented team of professionals including four property managers and four leasing specialists. In addition to our property management and robust maintenance teams, we also employ accounting, administrative, and human resources staff. HOW MANY VACANT APARTMENTS DO YOU NORMALLY HAVE? Our portfolio covers a wide spectrum of property types and locations. Generally we maintain an average 5% vacancy across our portfolio. Typically, nicer buildings in better areas tend to maintain higher occupancy rates while buildings in less desirable areas and condition may experience lower performance. We are experts at transforming distressed property into stable investment property. DO YOU OWN ANY OF THE APARTMENTS YOU MANAGE? Yes, we own about 75% of the apartments we manage.

9 FAQs - continued ELM GROVE COMPANIES HOW DO YOU ENSURE THAT YOUR APARTMENTS ARE NOT PRIORITIZED OVER MINE? Our motto is, we manage it as though we own it. Elm Grove was formed in order to meet our own needs of high quality, scalable property management services. We began offering these services to others in 2011 when we recognized a significant gap in the market. In order to be successful we must treat all of our clients equally. Our property managers and leasing staff are indifferent to who owns a property. Buildings and apartments in good locations that are clean, updated, well maintained and priced right will rent quickly, while less desirable apartments may not. Elm Grove staff provides the guidance needed in order to choose and maintain buildings in way that will maximize marketability. HOW DO YOU SCREEN RESIDENTS? Elm Grove has a formal resident selection criteria policy. When qualifying potential residents, we consider income, work history, rental history, evictions, criminal background, and credit history if requested by the owner. Applicants pay an application fee and are carefully vetted by our staff who are fully trained in fairhousing rules and regulations. HOW DO YOU COLLECT RENT? We offer several options for residents to pay rent. These include payments online via our website, in-person, via mail, or at our overnight drop box. Rent is due on the 5th of each month. A $50 late fee to the building owner may apply. WHO HANDLES EVICTIONS? While we try our best to work with residents who are struggling to pay rent, we are also diligent about filing legal demands and notices as required by law. Then, if we determine that a resident cannot, or will not, pay rent we are able to move forward with eviction as quickly as legally possible, utilizing the services of an eviction attorney. The average eviction takes approximately 45 days after the demand for rent expires, which is usually posted 10 days after rent is not paid. HOW CAN I CONTACT A PROPERTY MANAGER ABOUT MY BUILDINGS? Communication between owners and property managers is important. You will have contact information for your property manager, accounting manager and the President of EGPM.

10 FAQs - continued ELM GROVE COMPANIES HOW DO YOU HANDLE MAINTENANCE EMERGENCIES? We utilize a 24 hour live answering service. In the event of a maintenance emergency an on-call technician is dispatched. HOW DO YOU HANDLE ROUTINE MAINTENANCE? We employ a robust maintenance team including skilled carpenters, painters, HVAC and maintenance technicians. We also manage a network of high quality and affordable contractors for all project types. Service orders are addressed shortly after they are received. In the event that a repair will be costly, the owner is notified and made aware of his/her options. WILL I RECEIVE MONTHLY REPORTS? Yes. You will receive reports at the end of each month. Should you require specific types of reports, these will be made available upon request. Owners will have access to our property management software through an online owner portal. From this portal you will be able to pull numerous reports and review current activity for your portfolio. WHEN WILL I RECEIVE DISBURSEMENTS? We typically send out a disbursement check at the end of each month upon determining our fees and paying building related bills. If an owner would like to receive more frequent or less frequent disbursements, we can arrange another payment schedule. WHAT TYPE OF CONTRACT WILL I SIGN? We are confident in our ability to successfully manage for you. We typically offer a month to month contract. In the event of a conflict we will make every effort to resolve it amicably. If a resolution is not possible, the contract can be terminated by either party with 30 days notice.

11 MARKETING & ADVERTISING When you hire Elm Grove, you are not only hiring a skilled property management team, but a creative marketing team as well. We develop a personalized marketing strategy for all properties under management, establishing a plan based upon the scope and budget of the owner. Elm Grove has retained Burke Advertising as its agency of record, who assists in implementation and refines our creative plans. We are able to accomplish a wide range of marketing and advertising initiatives to maximize exposure in a competitive marketplace including: Media Planning and Placement for Television, Radio and Print Direct Mail to targeted renters and buyers Online banner advertising campaigns Online remarketing Facebook advertising to targeted audiences Search Engine Optimization (Elm Groves gets top-page Google rankings) marketing to current tenants, local business and targeted lists Social Media campaigns on Facebook, Instagram, Twitter, etc. Video Brochures for highlighted properties Branding of specific buildings and properties Public Relations As part of the lease-up and ongoing operations of managed properties, we can be counted on to lead or participate in the creative process of brand development, messaging, and marketing materials design. We can manage social media campaigns, outreach marketing, direct mail, open houses, events and press releases.

12 REPORTING AND FINANCIAL MANAGEMENT At Elm Grove we understand the importance of successful financial management. We have developed our bookkeeping policies and procedures around sound financial practices with checks and balances. Our process is transparent and our reporting and review schedule is completely customizable. Monthly Reports Monthly Distributions Escrow Account Management Reserve Account Management Quarterly Reviews Rent Manager Owner Portal AP/AR Utility Account Management Vendor Account Management Risk Management Rent Collections and Deposits Budgeting Our quarterly review format is an excellent opportunity to ask and answer questions. We work closely with owners to identify and respond to general ledger questions and to budget for future capital improvements and repairs.