About Paradigm Property Management:

R.O.I. Enterprises, Inc. dba Paradigm Property Management is a family owned business started by Ronald and Michelle Burkhardt in 2003. Michelle was a school teacher for a prestigious school in Hyde Park while Ronald was maintaining their personally owned properties in the Cincinnati Area. With all the drive and ambition the pair had together they decided to make multi-family management a full time adventure. Using the knowledge they had from managing their own properties for over fifteen years they were able to carry that personalized touch to their client’s investments. Priding themselves on attention to detail Paradigm began to expand from one property to several properties giving them the capability to expand their staffing department.

After five years and a reputation of honesty and ambition Paradigm has grown into a well organized, sophisticated corporation. We provide the full spectrum of property management services including, but not limited to, accounting, tenant relations, maintenance, leasing, turnovers, marketing, invoicing and Brokerage. Paradigm has created a dedicated team of experts to perform all the duties necessary to provide the best management possible for our clients and their customers. Paradigm is currently managing several properties in the Greater Cincinnati and Northern Kentucky area. Some of the areas we manage include: Bellevue and Dayton KY, Clifton, Oh, Dent, Oh and several more.

Just recently Paradigm has joined forces with First Commercial Reality, Inc to expand into new facets of property management, while perfecting current facets. Combing our management experience and the experience of First Commercial Reality we will be able to provide services above and beyond your normal management expectations.

About First Commercial Reality Inc.:

Since founding First Commercial Realty, Inc. in 1979, we have brought together individual real estate brokers with integrity who are recognized as experienced commercial leaders in brokerage. It is through the efforts and abilities of these individuals that First Commercial Realty was not only the FIRST company of its kind specializing in commercial real estate in Northern Kentucky, but also one of the most successful commercial brokerages in the Cincinnati/Northern Kentucky market place. We are still the only one in Northern Kentucky specializing in commercial real estate

First Commercial Realty, Inc. is celebrating its 31st year of serving commercial clients. These 31 years of experience, creating good investments for our clients, giving the best service and analyzing the total deal, is what we have to offer you. Anybody can sell a listing and get it financed, but does the deal make sense? We sell and lease shopping centers, office complexes and warehouses working with developers and users as well as listing and selling income producing investment property. We are "dealmakers". A lot of our business is repeat clients because we do what’s right. Our goal is to help our clients find the best property in the best location that will maximize their return. First Commercial Realty is licensed in Kentucky, Ohio, and Indiana.

A few of our clients include - Walgreens, FedEx, Dunkin Donuts, ACE Hardware, CVS Drugs, Cinergy, Willis Music, McDonald's, Cracker Barrel Restaurants, Applebee's, Red Lobster, Pizza Hut, Taco Bell, Wendy's, Burger King, Don Pablo's Kinko Copies, Hancock Fabrics, Sherwin Williams, Miller Brothers, Frame & Save, Duro Bag, Jiffy Lube, Advance Auto, Auto Zone, Shell Oil, Pilot Oil, Marriott Hotels, Comfort Inn, Super 8, Motel 6, Huntington Bank and many other retail, restaurant, office, industrial, and developer clients.

First Commercial Realty is a continuum of self-motivated hard work and we enjoy helping clients achieve their investment goals. We believe in the ethics and moral responsibility that goes along with being a real estate broker. We would like to help you find your commercial real estate.

Our Promise

Paradigm Property Management is a property management company connecting individuals to communities in the Greater Cincinnati/Northern Kentucky areas. We enjoy serving our clients to the fullest, while improving and maintaining their properties for the better of the community. We take the calls, you take the tax deduction!

Property Management Services Provided:

GENERAL

Paradigm Property Management provides the following services:

Accounting – Monthly tenant statements, rent collection, bill payment, etc.Monthly financial statementsAnnual financial statementsTenant Management – Evictions, correspondence, lease termination reconciliationsAsset Management – Keys, laundry.Leasing – Advertising, leasing, re-leasing, applications, background checks.Maintenance – preventative and emergencyTurnoversLandscape servicesRent optimizationAnnual Budgets

MEASURES

Paradigm provides the above services in the following specific ways:

Meet with each current tenant to begin the process of establishing relationships and determining the caliber and long-term viability of each.

Regular visits to make sure that grounds, entries, and units continue to create the same well-kept impression.

Advertise and show units, including all associated activities such as taking phone calls, making appointments, taking applications, and obtaining background checks.

Qualify prospects in accordance with Paradigm Management criteria.

Review and sign leases with new tenants.

Address tenant issues as they occur.

Issue a monthly statement to each tenant indicating rent and other fees due.

Collect rent.

Issue late notices and interim statements as required.

Make deposits to bank account.

Pay bills associated with this property out of your property's bank account.

Provide a monthly accounting of all financial activities.

Serve eviction notices when requested to do so, and represent owner in court.

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Propose preventive maintenance and property upgrade items, as they become apparent.

Regular cleaning of common areas such as stairwells and laundry areas.

Maintenance of exterior areas, including lawn care, landscaping, litter removal, and trash collection.

Provide appropriate responses to routine and 24/7 emergency maintenance situations, including scheduling of work, coordination of contractors, and purchasing of materials.

Unit turnovers within a reasonable period of time including repairs, upgrades, painting, and cleaning.

o Turnovers shall be performed in accordance with a pre-approved scope and cost.

Maintenance:

Our maintenance staff is highly trained and skilled individuals with a combined experience of 44 years. Our main staff consists of our head of maintenance, Ronald, our head of turnovers, Justin and our highly skilled maintenance tech, Eric.

Ron is responsible for making sure all maintenance men are performing their duties in a timely, efficient manner while making sure all of our property’s exterior and interior are maintained appropriately. He is also responsible for contacting vendors to supply bids and or perform services. He over sees all services performed by vendors and. During the past 15 years Ron has been able to learn and perform many tasks most companies normally need to contract out. He has experience in plumbing, hot water heaters, HVAC, electrical work, appliance repairs, window repairs, roofing, locksmith duties, cabinetry and much more.

Our head of turnovers is responsible for writing proposals, scheduling painting, cleaning and maintenance necessary to complete the turn. He also completes small maintenance repairs to vacant and occupied apartments as necessary. His background consists of the construction industry for four years and twelve years experience in maintenance and turnovers with our corporation.

Eric has an extensive background in custom home building and management. He started in the home building industry as a carpenter and framer for four years quickly advancing up the ladder into management for another nine years. With all the knowledge and experience Eric has gained throughout the past thirteen years has greatly added to the quality and expectation of the rest of our maintenance staff. He has been with Paradigm for two years doing preventative and emergency maintenance and is continuing to excel.

Leasing:

Paradigm’s main leasing staff has a combined experience of 14 years. Michelle is the head of leasing; some of her responsibilities include, maintaining a professional team, reviewing potential tenant applications, reviewing all letters and memos sent to tenants, handling major tenant issues, hold weekly update meetings with the leasing team, review weekly leasing schedules and much more.

As stated in the background portion Michelle has a ten year background in leasing and property management. Not only does she have an extensive background in leasing and management, Michelle has her Masters from Mount Saint Joseph College in Special Education. Her position as floor leader at Springer Elementary in Hyde Park helped her maintain a high level of patience and drive. She has great interpersonal skills she learned throughout the years at Springer which is used on a daily bases.

With all of our leasing agents interpersonal skills is a must have in order to succeed in the property management field. With our current team members and new team members they are required to complete and receive certification on our mandatory Fair Housing courses, Rent Manager training and Paradigm’s training course on leasing and tenant relations with Michelle before any contact with tenants, owners, maintenance staff.

Software:

London Computer Systems, Inc. /Rent Manager

Headquartered in Cincinnati, Ohio, LCS provides comprehensive, industry-leading property management and accounting software. Originally written in 1982, Rent Manager is available as a stand-alone or web-based product. There are currently over 15,000 residential and commercial property managers and owners who use Rent Manager to efficiently and effectively manage their rental properties.

Rent Manager is a Residential and Commercial Property Management Software designed specifically to help today’s Real Estate professionals work more efficiently and effectively. Designed for properties of any size, Rent Manager helps us increase your productivity by organizing your rental information and reducing the number of delinquent accounts.

Rent Manager also includes a completely integrated accounting system that offers a General Ledger, Accounts Payable, Accounts Receivable, Budgeting, and Financial reports that integrated seamlessly with the powerful property management system. Rent Manager allows us to track multiple companies and integrates the accounting around your property.

Their goal is to provide each client with the best property management software and support available.

Accounting:

Paradigm’s Accounting department is headed by the company controller Kim Niehaus. She has done consulting for companies for many years now. In 2008 Kim began her own consulting company and has been with Paradigm since. She has many years of experience in invoicing, budgeting, commercial real estate, condo boards and associations and major franchises in the Cincinnati and Northern Kentucky areas.

Kim’s responsibilities consist of preparing monthly invoicing for all of our clients, creating annual budgets, reviewing bookkeeping in QuickBooks and Rent Manager, setting new clients up in Rent Manager and doing all the necessary preparation for the client and much more.

Marjean and Marguerite are the other two employees in the accounting department. They work together as a team paying bills for all property locations and Paradigm accounts, entering all rent checks collected throughout the month, processing payroll bi-weekly, speaking with all contractors, reconciling property bank accounts and any other monthly bookkeeping duties that may arise.

Associated Brokers:

Ray Merkel   President and CEO of First Commercial Realty, Inc. Mr. Merkel has a BS in Business Management and Accounting from the University of Dayton, and a Juris Doctor from the University of Cincinnati College of Law. Mr. Merkel practiced law in Chicago, IL and served as Regional Real Estate Attorney for McDonald’s Corporation for a 14-state area; and also served as Regional Real Estate Manager in Columbus, OH. Mr. Merkel was associated with Manual Mayerson Associates, a major Cincinnati Developer and worked on regional malls, retail, and office projects. Mr. Merkel has represented many national retail, office, industrial, and restaurant clients in site selection, lease negotiation and purchase acquisition. Mr. Merkel is also active in selling and purchasing real estate investment properties. Mr. Merkel is a licensed Real Estate Broker in Kentucky, Ohio, and Indiana. Susan Kathryn Travis Executive Vice President/Principal of First Commercial Realty, Inc. Before co-founding First Commercial Realty in December 1978, Susan Travis worked as a licensed real estate broker for Koetzle Corp. and Krumpelman Realty.  Prior she was director of rental services for National Computerized Property Management and a management consultant for Running Spring Village in Anderson, Indiana.

A graduate of Gulf Park College, Gulfport, Mississippi, and Susan was a piano major at the College Conservatory of Music and took courses in real estate at the University of Cincinnati and Cincinnati Technical College. She has four grown children: Cary, Camy Kathryn, Tammi-Jill & Teddy (twins) and four grandchildren: Jordan Kathryn, Megan Ann, Grant Travis, and Blake Robert.

She is currently a ten-year member of the Advisory Board of St. Joseph Orphanage, Cincinnati, Ohio, and was a founding member and secretary of the Board of Directors for the Tri-State Drug Rehabilitation and Counseling Center, dba Kids Helping Kids for five years.  

Travis was listed in Who’s Who in Real Estate in the Cincinnati Business Courier. Currently she holds a Real Estate Broker’s License in Kentucky, Ohio, and Indiana. Herbert E. Moore Jr. Mr. Moore holds degrees from the University of Cincinnati and Thomas More College in Engineering Technology and Business Administration.

A veteran of 20 years of engineering and contract manufacturing in product development for Procter and Gamble, Mr. Moore has traveled the world helping to develop most major brands in the Beauty Care Division.

Since the late 80’s, Mr. Moore has built, developed, and managed multiple properties in the Northern Kentucky area including subdivision, shopping centers, office and retail.

Mr. Moore’s combination of engineering, construction, and development experience makes him uniquely qualified to help you pinpoint properties and build your portfolio.

Besides his formal education, Mr. Moore holds the following professional designations and licenses: Registered Builder, Registered Developer, Licensed Real Estate Agent and Licensed

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Bill McBee · Born in Burlington, Boone County, Kentucky · Graduated Burlington High School· Graduated Georgetown College, KY with a degree in Business Administration· Lettered in baseball 3 years· Member of Lamba Chi Alpha Fraternity· Served two years in U.S. Army, 1954-1956· Taught school for four years· Sales for General Motors and Kosmos Cement Company· Started in real estate part time in 1967· Elected to Kentucky State Legislature in 1972, served 19 years· Lobbied for 4 years· Real Estate full time since 1995· Married to Anne McBee, Attorney at Law· Initiated and worked The Bean Bash, a significant charity fund-raiser for adults and children with disabilities in Northern Kentucky which is 30 years old.· Has been with First Commercial Realty for 25 years. James "Jim" B. Lohr Has been a licensed real estate professional since 1980. He has an AB in Economics from Brown University and is a former Marine. He is currently licensed in Ohio and Kentucky.  Mr. Lohr has a working knowledge of the primary areas of commercial real estate, and keeps up-to-date on the trends that are impacting the real estate marketplace in the Tri-State area. In recent years, Mr. Lohr has specialized in the sale of investment properties and mobile home communities.  He would be pleased to assist you in fulfilling your current requirements locally.

Jim Carmichael Serves as an Investment Sales Vice President for First Commercial Realty, Inc. specializing in the sale and leasing of mobile home parks, multi-family, land and retail properties in Florence, Kentucky. With nine years experience, Carmichael has secured over 65 transactions resulting in a brokerage volume over $55 million. Prior to returning to First Commercial Realty, Inc, Carmichael gained real estate experience at Sperry Van Ness, in Florence, Kentucky and Marcus & Millichap, Cincinnati, Ohio where he served as Midwest Mobile Home Park Specialist procuring over $15 million in listings. Previously, Carmichael served as general manager for CMH Homes Inc. in Kinston, North Carolina, where he was responsible for personnel, training, management, financing and collections. Carmichael received numerous awards from CMH Homes including Top Salesman in the Cincinnati Region and Top Sales Center Eastern Carolina Region. Carmichael led the Kinston, North Carolina team to a sale volume in excess of $2.5 million. Active in the community, Carmichael served as Boone County Planning Commissioner for five years. He is also a member of the Boone County Businessmen (serving on the Board of Directors). Carmichael is a graduate from the Naval Nuclear Power School where he focused on Electrical Distribution and served on the submarine USS Oklahoma City (SSN-723). He currently resides in Walton, Kentucky.

Vendor Relations:

Paradigm has had relationships with some of our vendors for ten plus years. We pride ourselves on the relationship we have formed with our vendors. We able to get great discounted pricing on

several services due to the relationships we have formed and the repetitive business. Attached is a small list of some of the vendors we use on a regular base for our client’s and their properties.

home depot Phoenix Window Cleaning & Building ServiceLeon Supply Central Tool RentalABC Signs Ace HardwareRoyal Finish, Inc. Wolnitzek & Rowekamp, P.S.C.Cincy Clean, Inc Mike Hensley PlumbingFor Rent Magazine W.P. Dolle, LLCJim Eckhoff Plumbing, Inc. Allied Building SuppliesDuke Energy Middendorf SupplyAndrews Lawn Care Steffen's Tool CribPalmer Dovavin Manufacturing Company First Financial BankCSI Waste Services Kleaning with Kare,LLCTerry McCoy Painting Greater Cincinnati Water WorksCincinnati Bell Telephone Northern Kentucky Water DistrictWilmar Sanitation District No. 1Easton Telecom Services LLC Helvey & Associates, Inc.David Donnett Tri -State WholesaleSherwin-Williams Company SR2 Properties LLC.Easton Telecom Services LLC Barn HardwareAIR Management Busch Bros. Elevator Co.Citizen's Bank of Northern Kentucky Environment Control BuildingWestfield Insurance Eagle Savings BankHolland Roofing Company Peachtree Business ProductsOtis Elevator Company City of Park HillsKiefer Heating & A/C Fantastic FloorsRumpke Johnstone SupplyCDI Electronics, Inc. Bladimir MacedoMerchant Bank & Trust Company Hamilton County Public Health Dept./Attn: PlumbingRoss Publishing, Inc. City Wide Ready Mix ConcreteRes/Comm Security Systems, Inc. Complete Appliance ServiceCrawford Insurance Tri-State AppliancePeople's Community Bank Schneider WindowsSonshine Rentals, LLC Coin Laundry PlusCarpetland/Carpet One Budget Pest ControlPest Pro Pest Solutions Inc City of DaytonBank of America Keidel SupplySullivan's Carpet Care City of ReadingFifth Third Bank Mueller RoofingOhio Casualty City of BellevueCincinnati Water Works Haste Plumbing & Backflow CompanyFirst Financial Bank HD Supply Facilities Maintenance, LTD.Apartment Guide Block And Company, Inc.City Treasurer American Exterminating Co.Cecil Lock & Key Southern Ohio Plte & Window GlassCity Of Fairfield Dayton Appliance PartsForest Green Waste Service Seco Electric Co.System 4 of Southern Ohio City of Cincinnati ICI Paints Safeguard Supply

May 25, 2023

To whom it may concern:

Royal Glen Holdings, LLCMartin R. Schrager313 Poplar Ave.Cincinnati, OH45215

The purpose of this letter is to comment on the quality and value of service received through our partnership with Apartment Investment Realty Management (AIR Management).

I have been co-owner of Royal Glen Apartments for one year. We came to know Shelley, Steve, Ron, and Justin (principles of AIR Management) through a referral from the company who brokered the acquisition of this property.

AIR Management has been instrumental in our process of “turning around” Royal Glen. The prior owner ran the business with a “minimum necessary” philosophy, keeping rents extremely low in order to minimize turnovers and maintenance. The property had become full of “low end” tenants with low expectations. However, we knew RG had potential for becoming a profitable business and a respectable place to live. We also knew we would need the right people to run the day-to-day operations to make that happen.

Utilizing their expertise in tenant management, maintenance, and general business acumen we have been able to rid ourselves of the bad apples, keep the good ones, and start turning a profit. Their network of contractors helps keep costs reasonable while moving towards a higher standard of quality. They have been dependable and responsive to our needs. They understand our business strategy and work with us to meet our goals. We have weekly updates and quarterly face-to-face meetings to discuss issues, rents, strategies, and accomplishments.

I highly recommend AIR Management as a property management firm.

Sincerely,

Martin R. SchragerOwner, Royal Glen ApartmentsRoyal Glen Holdings, LLC

P.O. Box 53769 Cincinnati, OH 45253-0769

June 14, 2010

To whom it may concern:

It is my pleasure to write a letter or recommendation for Paradigm Property Management. I have been aclient of Paradigm's (formerly A.I.R. Management) since 2006. Paradigm manages two apartmentcommunities for my family business - The Washington, a 34-unit senior independent living communityin Bellevue, KY, and Dayton Square, a 35-unit community, in Dayton, KY.

When we acquired The Washington in November, 2006, the property had a 32% vacancy. Within only afew months following acquisition, through diligent, cost-effective marketing and networking efforts,Paradigm had achieved over 90% occupancy. Since then, the property remains in the mid to high 90'soccupancy, with the lowest delinquency rate in our portfolio. The greatest reason for our continuedsuccess with this property is the fact that Paradigm treats the residents as if they are family. ShelleyBurkhardt hosts several resident appreciation events every year. She has been caught on film dancingwith the residents at many of these events. It is through this relationship building, which is as natural asbreathing for Shelley, that The Washington maintains a much lower than typical unit turnoverpercentage. This is just one example of how Paradigm goes above and beyond the contractual terms inorder to satisfy their clients.

So, it is with unabashed enthusiasm that I recommend Paradigm Property Management for yourapartment management needs. I am certain that you will be as thrilled with their personal, yetprofessional, service as am I.

If I can be of any further assistance, please do not hesitate to call me.

Sincerely,Mike RaderManaging Partner513-260-2617