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RIDGEVIEW COMMONS UPDATE FEBRUARY 2019 • Apartment Turnover We had two move -outs in February. • Resident Meeting The RVC Activity Committee scheduled a free luncheon prior to our February Resident's Meeting. The main topic for the meeting was the recent rent increase. Combine that with a free lunch, and we had one of the largest resident's meetings ever. Typically, our rent increases have been in the 0%- 2% range. This year the increase was from 5%-8%, and the resident's wanted to know why. Erin, the property Administrator explained due to re - syndication, we are currently going through a capital needs assessment. This will determine the priority of the upgrades we will make during the rehabilitation phase of the property. There were many questions about what would be done and the uncertainty of the process. Erin promised more resident meetings soon once the re -syndication application is approved and after final decisions on the needs of the property have been made. The residents were assured that the improvements that they have suggested in prior meetings, has been shared to the re -syndication team. The meeting ended with everyone hoping not to see a similar increase next year. • Staffing In December 2018, our Social Service Coordinator gave her 2 -week notice. This is a 30 hour a week position that works closely with staff, and residents on -a daily basis. We believe we have found the right person to fill this position. Our new SSC starts on Monday March 11th. • New Water Heater In February, we had to replace one of the 100 - gallon water heaters in the South Building. Due to the hardness of the Pleasanton water, we are lucky if we can get 15 years of service out of any replacement.