PROPERTY MANAGEMENT STRATEGY

• Ascendant will utilize Evergreen RE Management to manage the multifamily assets

• Evergreen will enter into a sub-management agreement with a leading management company in the local market of the asset

• Evergreen will select the sub-manager, based on a selection criteria and track record of the sub-manager with regard to managing and hiring the best possible team for the specific asset class in the specific sub-market

• The sub-manager will assist in the recruitment and of an outstanding team in the local market of the asset, in particular the leasing consultant and property manager.  Most management companies under-estimated the importance of the leasing agent position, however Evergreen will bring in the best possible leasing agent and property manager for each asset

• Evergreen will supervise and monitor the hiring and operational management of the sub-manager with a strict adherence to policies, procedures and controls:

 Hiring the best talent for each asset with a strong leasing consultant

 Development of sound rental criteria 

 Lease approvals with strict adherence to rental criteria

 Frequent study of the sub-market and competitors to set rent

 Sound retention policies focusing on client service and work order management to minimize move outs.

 Strong leasing program and tight control over delinquency management

 Quarterly audits of each asset to check variances with leasing criteria