← 3178 W 41st St, Cleveland, Ohio 44109 · All properties
UPDATES.md
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| Property | 3178 W 41st St, Cleveland, Ohio 44109 |
|---|---|
| Folder | README & Property Snapshot |
| Kind | Text |
| Updated | 2026-07-14 |
| Dropbox path | 00 - README & Property Snapshot/UPDATES.md |
What This File Appears To Be
2026-07-14 - Property Update (07/14/2026): Hi everyone, This month's update includes the current reviewed financial summary from the guarded monthly workflow. Financial summary from FINANCIALS.md: Financial data is shown as of 2026-06. ## Cash Flow Snapshot (2026-06) Revenue: $0.00 Operating Expenses: -$62.50 NOI: -$62.50 Net Operating Cashflow: -$62.50 ## Monthly Cash Position (2026-06) Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current comple
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## 2026-07-14
- Property Update (07/14/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $0.00
Operating Expenses: -$62.50
NOI: -$62.50
Net Operating Cashflow: -$62.50
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: -$8,681.27 (Lofty curr_maintenance_reserve)
ECO Operating Cash: $192.69 (ECO Systems General Ledger Column E (12 rows))
# Property Updates
## 2026-07-12
- Property Update (07/12/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
## Cash Flow Snapshot (2026-06)
| Metric | Amount |
|---|---:|
| Revenue | $0.00 |
| Operating Expenses | $0.00 |
| NOI | $0.00 |
| Net Operating Cashflow | $0.00 |
## Monthly Cash Position (2026-06)
Amounts are shown as of 2026-06. ECO Operating Cash is the complete DAO-attributed ECO Systems GL Column E balance through the as-of month, including accruals; it is not limited to ECO Systems LLC bank cash.
| Metric | Amount | Source |
|---|---:|---|
| Lofty Operating Cash | -$8,681.27 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | $255.19 | ECO Systems General Ledger Column E (11 rows) |
## Source Evidence
| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 3178 W 41st St.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 11 |
| ECO GL Column E sum | $255.19 |
Financial summary:
- Lofty-held current maintenance reserve: -$8,681.27
- ECO GL Column E sum: $255.19 (11 rows)
## 2026-07-02
- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.
Financial summary:
- Lofty-held current maintenance reserve: -$6,635.00
- ECO GL Column E sum: $255.19 (11 rows)
## 2026-07-02
- Property Update (07/02/2026):
Hi everyone,
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.
Financial summary:
- Lofty-held current maintenance reserve: -$6,635.00
- ECO GL Column E sum: $255.19 (11 rows)
## 2026-06-27
- Property Update (06/27/2026):
Hi everyone,
Quick update on **3178 W 41st St, Cleveland, OH 44109**:
- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.
**What to expect next**
- Current operations snapshot
- Any material leasing/maintenance/compliance items
- Financial/reconciliation notes (if applicable)
- Next expected update timing
Financial summary:
- Lofty-held current maintenance reserve: -$6,635.00
- ECO GL Column E sum: $255.19 (11 rows)
- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-596.58 |
| Lofty Operating Cash | $-6,940.74 |
| ECO Operating Cash | $255.19 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-5,807.48 |
| Estimated Owners' Equity | $96,700.00 |
| DAO Estimated NAV Per Token | $45.93 |
| DAO Tokens | 1979 |
| Current PM | ECO/M1 |
## 2026-06-27
- Property Update (06/27/2026):
Financial summary:
- Lofty-held current maintenance reserve: -$6,635.00
- ECO GL Column E sum: $255.19 (11 rows)
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-596.58 |
| Lofty Operating Cash | $-6,940.74 |
| ECO Operating Cash | $255.19 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-5,807.48 |
| Estimated Owners' Equity | $96,700.00 |
| DAO Estimated NAV Per Token | $45.93 |
| DAO Tokens | 1979 |
| Current PM | ECO/M1 |
## 2026-04-06
- Property Update (04/06/2026):
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-596.58 |
| Lofty Operating Cash | $-6,940.74 |
| ECO Operating Cash | $255.19 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-5,807.48 |
| Estimated Owners' Equity | $96,700.00 |
| DAO Estimated NAV Per Token | $45.93 |
| DAO Tokens | 1979 |
| Current PM | ECO/M1 |
## 2025-07-29
- Property Update (07/29/2025):
- Governance Results for 3178 W 41st St:
- The Governance Voting results are back for the owner proposed vote to change property managers.
- The winning vote is:
- Transition to ECO Systems LLC as PM with Aligned, Hemlane, or Nomad as Sub-PM 15% Property Management Fee to ECO Systems Leasing Fee
- This voting option received 346 / 383 token votes, which is equal to 90% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3144417978) or by searching the application ID: 3144417978
## 2025-07-11
- Property Update (07/11/2025):
- Owner-Proposed Governance Vote for 3178 W 41st St:
- The property manager, M1 Homes LLC with the following [wallet address](https://allo.info/account/PRLPPSU53SGKIK5Y7L2LAZPRJHDRO35FHXPFZQCQAWLOBCRKVGX5B7T6XI) is proposing a governance vote to change property managers to ECO Systems LLC.
- This owner holds 10 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- PROPOSAL: Transition Property Management to ECO Systems LLC
- Background:
- When M1 Homes LLC was originally proposed as property manager, it was under the condition that the property in question would be free of outstanding financial obligations at the time of transfer. Unfortunately, that condition has not been met. The property currently carries unresolved debts and liabilities, placing it outside the original scope of M1 Homes’ intended role.
- Given this, M1 Homes LLC does not believe it is appropriate or consistent with its original proposal to assume management responsibilities under the current financial conditions.
- Recommendation:
- We propose transferring property management responsibilities to ECO Systems LLC. Earl, representing ECO Systems, has been closely involved in the property’s financial tracking and has maintained comprehensive and transparent spreadsheets regarding its operational and debt status. His proactive engagement and detailed oversight make him well-positioned to step into the property management role at this time.
- Key Points Supporting This Proposal:
- Original Agreement Integrity: M1 Homes’ proposal was contingent on a debt-free property. Continuing under current conditions would contradict that premise.
- Established Oversight: ECO Systems, led by Earl, has already demonstrated deep operational familiarity with this property through diligent financial documentation.
- Capital Flexibility: Upon transition, ECO Systems LLC will have the discretion to propose capital calls to EARLDAO as needed for property stabilization and repair planning.
- Operational Efficiency: ECO Systems LLC, in coordination with Hemlane as sub-property manager, offers a lean and transparent fee structure with no repair markups and rent-readiness verification.
- Property Management Transition (If Property is Retained):
- Option 1 ) Transition to ECO Systems LLC as PM with Aligned, Hemlane, or Nomad as Sub-PM 15% Property Management Fee to ECO Systems Leasing Fee: One month's rent Hemlane rent-ready service $495 + materials & labor costs 10% markup on repairs or maintenance to Aligned if we must stay with them due to LAIC requirement, no markup to ECO Systems Rent placement to follow post-rehab verification
- ECO Systems may initiate capital calls post-transition
- Option 2 – Reject Vote #2 and Remain with M1 Homes LLC
- M1 Homes remains as manager
- No changes to current structure
- Financial obligations remain unresolved under the existing framework
- The results will be determined by a 60% Supermajority and sent to all owners on Tuesday, July 15th once the voting period ends.
## 2025-07-11
- Property Update (07/11/2025):
- Owner-Proposed Governance Vote for 3178 W 41st St:
- The property manager, M1 Homes LLC with the following [wallet address](https://allo.info/account/PRLPPSU53SGKIK5Y7L2LAZPRJHDRO35FHXPFZQCQAWLOBCRKVGX5B7T6XI) is proposing a governance vote to change property managers to ECO Systems LLC.
- This owner holds 10 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
- PROPOSAL: Transition Property Management to ECO Systems LLC
- Background:
- When M1 Homes LLC was originally proposed as property manager, it was under the condition that the property in question would be free of outstanding financial obligations at the time of transfer. Unfortunately, that condition has not been met. The property currently carries unresolved debts and liabilities, placing it outside the original scope of M1 Homes' intended role.
- Given this, M1 Homes LLC does not believe it is appropriate or consistent with its original proposal to assume management responsibilities under the current financial conditions.
- Recommendation:
- We propose transferring property management responsibilities to ECO Systems LLC. Earl, representing ECO Systems, has been closely involved in the property's financial tracking and has maintained comprehensive and transparent spreadsheets regarding its operational and debt status. His proactive engagement and detailed oversight make him well-positioned to step into the property management role at this time.
- Key Points Supporting This Proposal:
- Original Agreement Integrity: M1 Homes' proposal was contingent on a debt-free property. Continuing under current conditions would contradict that premise.
- Established Oversight: ECO Systems, led by Earl, has already demonstrated deep operational familiarity with this property through diligent financial documentation.
- Capital Flexibility: Upon transition, ECO Systems LLC will have the discretion to propose capital calls to EARLDAO as needed for property stabilization and repair planning.
- Operational Efficiency: ECO Systems LLC, in coordination with Hemlane as sub-property manager, offers a lean and transparent fee structure with no repair markups and rent-readiness verification.
- Property Management Transition (If Property is Retained):
- Option 1 ) Transition to ECO Systems LLC as PM with Aligned, Hemlane, or Nomad as Sub-PM 15% Property Management Fee to ECO Systems Leasing Fee: One month's rent Hemlane rent-ready service $495 + materials & labor costs 10% markup on repairs or maintenance to Aligned if we must stay with them due to LAIC requirement, no markup to ECO Systems Rent placement to follow post-rehab verification
- ECO Systems may initiate capital calls post-tr