The following is a summary of the July 2010 Community Rent Surveys by JLT & Associates for Colorado. Occupancy numbers DO NOT INCLUDE repossessed homes as reported by the on-site personnel. Comments on each market (below) include the number of repossessed homes. Please call 808-283-3380 with any questions.

Surveys can be ordered by calling 808-283-3380, sending a email to JohnTurzer@aol.com or visiting www.JLT-Associates.com where you can download reports using your VISA or Mastercard!

STATEWIDE SUMMARY

The surveys cover Northern (Fort Collins and Greeley) and Southern Colorado (Colorado Springs and Pueblo) and the Greater Denver area and include 79 "All Ages" communities with 24,060 homesites. Statewide, the occupancy rate at July 2010 for these markets is 84%, a .8% increase (+171 homesites) over July 2009. Occupancy rates vary by market and are discussed on the following pages.

Surveys include 14 "55+" communities with 3,619 homesites. Statewide, the occupancy rate at July 2010 is 84%, a 1.6% decrease (-49 homesites) over July 2009.

Average adjusted rents (rents after deducting services) in the "All Ages" communities increased 2.4% from $445 to $455 per month. Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent.

Average adjusted rents (rents after deducting services) in the "55+" communities increased 1.3% from $457 to $463 per month. Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent.

NORTHERN COLORADO

The Fort Collins survey includes 11 "All Ages" communities with 3,163 homesites. The July 2010 occupancy rate is 90%, a 2.5% increase over July 2009.

The Greeley survey includes 6 "All Ages" communities with 1,642 homesites. The July 2010 occupancy rate is 71%, a .7% decrease over July 2009.

The Fort Collins survey includes 1 "55+" community with 320 homesites. The July 2010 occupancy rate is 91%, the same as July 2009.

In the Fort Collins market, the average adjusted rent (rent after deducting services) in the "All Ages" communities is $390, an increase of $9 (2.4%) over July 2009.

In the Greeley market, the average adjusted rent (rent after deducting services) in the "All Ages" communities is $395, an increase of $5 (1.3%) over July 2009.

In the Fort Collins market, the average adjusted rent (rent after deducting services) in the "55+" community is $335, an increase of $8 (2.4%) over July 2009.

Only four (4) communities in Northern Colorado reported occupancy rates of 95% or higher and fourteen (14) communities implemented rent increases during the past twelve months.

SOUTHERN COLORADO

The Colorado Springs survey includes 12 "All Ages" communities with 3,311 homesites. The July 2010 occupancy rate is 89%, a .7% increase over July 2009.

The Pueblo survey includes 5 "All Ages" communities with 1,290 homesites. The July 2010 occupancy rate is 69%, a 1.4% increase over July 2009.

The Colorado Springs survey includes 4 "55+" communities with 954 homesites. The July 2010 occupancy rate is 79%, a .7% decrease over July 2009.

The Pueblo survey includes 1 "55+" community with 161 homesites. The community reported that the July 2010 occupancy rate is 84%, a 2.2% decrease over July 2009.

In the Colorado Springs market, the average adjusted rent (rent after deducting services) in the "All Ages" communities is $343, an increase of $8 (2.4%) over July 2009.

In the Pueblo market, the average adjusted rent (rent after deducting services) in the "All Ages" communities is $325, an increase of $10 (3.2%) over July 2009.

In the Colorado Springs market, the average adjusted rent (rent after deducting services) in the "55+" communities is $422, an increase of $1 over July 2009.

In the Pueblo market, the average adjusted rent (rent after deducting services) in the "55+" community is $350, the same as July 2009.

Only three (3) communities in Southern Colorado reported occupancy rates of 95% or higher and sixteen (16) communities implemented rent increases during the past twelve months.

DENVER METRO AREA

The survey includes 45 "All Ages" communities with 14,654 homesites. The July 2010 occupancy rate is 85%, a 1% increase over July 2009. Sub-market data can be obtained by contacting JLT & Associates.

The survey includes 8 "55+" communities with 2,184 homesites. The July 2010 occupancy rate is 86%, a 2% decrease over July 2009. Sub-market data can be obtained by contacting JLT & Associates.

The average adjusted rent (rent after deducting services) in the "All Ages" communities is $513, an increase of $12 (3%) over July 2009.

The average adjusted rent (rent after deducting services) in the "55+" communities is $508, an increase of $8 (2%) over July 2009.

Only sixteen (16) communities in the Denver area reported occupancy rates of 95% or higher and forty-seven (47) communities implemented rent increases during the past twelve months.

John Turzer is the President of JLT & Associates, a full service real estate market research company specializing in the manufactured housing industry. The company conducts pre-acquisition and new community development market research, due diligence, a one-day sales training program and client specific consulting projects. JLT & Associates also prepares and markets manufactured home community rent surveys for 71 markets nationwide including Albuquerque, Atlanta, Las Vegas, Greater Phoenix, Tucson, Salt Lake City, Kansas City, Minneapolis/St. Paul, Raleigh, Charlotte, Seattle and major markets in Florida, Texas, Michigan, Colorado, New York, Oregon, Indiana and Ohio. He can be reached at (808) 283-3380, (808) 442-9950 (fax) or by email at JohnTurzer@aol.com or visiting www.JLT-Associates.com.