MANAGER'S REPORT

01/18/2010





UNITS FOR SALE UNITS FOR RENT



#505 $375,000 #205 $2,000 N/A SUMMER

#1001 $399,000 #301 $2,000 N/A SUMMER

#1005 $335,000 #305 $1,600-$1,800

#1806 $649,000 #801 ?

#1006 unfurnished

#1101 unfurnished

#1603
Watson 759-0474

ADMINISTRATION



1. Audit start postponed due to computer problems. Motherboard replaced on

01/13/2010. Compter infected with viruses and not useable.

2. Reserve study scheduled for mid-February.

3. Contract with Leland Management signed 01/04/2010. Cost is $550 per mo.

Or $6,600 annual. Legal to review: $1,140

4. Quarterly payroll returns in progress; also annual returns..

5. Anticipate four insurance agents submitting proposals. A decision needs to be

made by February 5, 2010.

6. Little or no progress has been made toward resolving the damage to three

Units from the November drain cleaning.

7. We have five troubled units: 3 of which are in foreclosure (204, 502, 1205).

The two with liens will follow.

8. Three storage bins appear to have been broken into. One had two toolboxes

taken.

9. Certain elevator upgrades are required by law. Electronic door restraints will

Cost $4,654. Universal fire service key switches for zone 3 will cost $2,213.00.

These are required and must be completed before the next license to operate

Is issued in August.



BUILDING AND PROPERTY



1. Chemical treatment of drains – 90 day trial period.. Evaluation in February.

2. Pigeons are a problem in the 18th floor, especially the oceanfront balconies.

May need to obtain netting to limit their access.

3. It appears that we lost very few plants due to the cold weather early in the

Month.

4. Unit #1001 finished a kitchen remodel; #1801 remodeled entire unit. Doors

And windows were replaced in unit #1002.

5. A wall in the library was removed along with an old a/c condensing unit.

New lighting and ceiling installed. Electrical and telephone lines moved.