← 566 Nash St, Akron, OH 44306 · All properties
UPDATES.md
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| Property | 566 Nash St, Akron, OH 44306 |
|---|---|
| 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: $827.05 Operating Expenses: -$2,167.92 NOI: -$1,340.87 Net Operating Cashflow: -$1,583.57 ## Monthly Cash Position (2026-06) Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the cur
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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: $827.05
Operating Expenses: -$2,167.92
NOI: -$1,340.87
Net Operating Cashflow: -$1,583.57
## 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: -$5,348.44 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$831.28 (ECO Systems General Ledger Column E (70 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 (2026-04)
**Source:** Cash Flow Statement, month `2026-04`
**Updated:** 2026-05-18
| Metric | Amount |
|---|---:|
| Revenue | $827.05 |
| Operating Expenses | $0.00 |
| NOI | $827.05 |
| Loan/CapEx/Retained Earnings | $0.00 |
| Net Operating Cashflow | $827.05 |
| Rents | $827.05 |
| Property Management Fee | $0.00 |
| Insurance | $0.00 |
| Taxes | $0.00 |
| Utilities | $0.00 |
| Repairs / Maintenance | $0.00 |
| Operating Reserve Balance | $0.00 |
| ECO Cash Balance | $0.00 |
| Mortgage Principal Balance | $0.00 |
| Estimated NAV | $0.00 |
`source_workbook: Public/07 - P&L & Owner Statements/Cash Flow Statement - 566 Nash St, Akron, OH 44306.xlsx`
<!-- AUTO:CF_PRIOR_MONTH_END -->
## 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 | -$5,348.44 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | -$239.74 | ECO Systems General Ledger Column E (66 rows) |
Financial summary:
- Lofty-held current maintenance reserve: -$5,348.44
- ECO GL Column E sum: -$239.74 (66 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: -$4,877.13
- ECO GL Column E sum: $1,818.00 (64 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: -$4,877.13
- ECO GL Column E sum: $1,818.00 (64 rows)
## 2026-06-27
- Property Update (06/27/2026):
Hi everyone,
Quick update on **566 Nash St, Akron, OH 44306**:
- 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: -$4,877.13
- ECO GL Column E sum: $1,818.00 (64 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.
- **Critical Financial Update:**
- Operating Reserve: $-5,348 (significantly depleted)
- Tenant Status: Occupied
- ULD Loan Balance: $11,498
- Capital Call Needed: $6,000+
- ECO Operating Cash: $4,817.62 (as of April 6, 2026)
- Current PM: ECO
- **Property Update (2026-04-08):**
April 2026 Property Update:
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $0.00 |
| Lofty Operating Cash | $-5,148.43 |
| ECO Operating Cash | $4,817.62 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-1,973.35 |
| Estimated Owners' Equity | $125,904.00 |
| DAO Estimated NAV Per Token | $59.84 |
| DAO Tokens | 2071 |
| Current PM | ECO |
Yhome transition reconciliation as of April 6, 2026.
Property under ECO management. Transition reconciliation complete.
## 2026-06-27
- Property Update (06/27/2026):
Financial summary:
- Lofty-held current maintenance reserve: -$4,877.13
- ECO GL Column E sum: $1,818.00 (64 rows)
- **Critical Financial Update:**
- Operating Reserve: $-5,348 (significantly depleted)
- Tenant Status: Occupied
- ULD Loan Balance: $11,498
- Capital Call Needed: $6,000+
- ECO Operating Cash: $4,817.62 (as of April 6, 2026)
- Current PM: ECO
## 2026-04-11
- Property Update (04/11/2026):
- **Critical Financial Update:**
- Operating Reserve: $-5,348 (significantly depleted)
- Tenant Status: Occupied
- ULD Loan Balance: $11,498
- Capital Call Needed: $6,000+
- ECO Operating Cash: $4,817.62 (as of April 6, 2026)
- Current PM: ECO
- **Property Update (2026-04-08):**
April 2026 Property Update:
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $0.00 |
| Lofty Operating Cash | $-5,148.43 |
| ECO Operating Cash | $4,817.62 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-1,973.35 |
| Estimated Owners' Equity | $125,904.00 |
| DAO Estimated NAV Per Token | $59.84 |
| DAO Tokens | 2071 |
| Current PM | ECO |
Yhome transition reconciliation as of April 6, 2026.
Property under ECO management. Transition reconciliation complete.
## 2026-01-10
- Property Update (01/10/2026):
- On 12/24/25 the tenant's stove sparked and the breaker tripped. An electrician finally came out just to tell us the stove's electrical connector melted, and proceeded to bill us $150 for the service call without actually doing the repair. Earl is attempting to dispute this charge.
- Tenant has not paid December and January rent and is supposedly withholding it due to the non-functional stove.
- A repair has been scheduled with another vendor, and tenant's late fees were waived as a courtesy for the 3-week delay in sourcing a competent vendor especially over the holidays.
- A 1-year lease renewal was offered to the tenant at the same $973/month rate, contingent on remittance of December and January rents. Tenant's failure to pay following repair of the stove will be grounds for immediate eviction.
- Financial Summary:
- ECO Systems Operating Cash: $1,210.82
- Security Deposit held by ECO: $1,890.00
- Due to Lofty: ($5,148.43)
- Due to Universal Lending DAO: ($11,118.93)
- Due to Summit County (2025 Taxes): ($2,038.36)
- An immediate capital call of at least $6,000 to pay taxes and debts to Lofty is required at this time and must be backed by a DAO member or potentially sourced from the [Universal Lending DAO](https://www.lofty.ai/property_deal/Universal-Lending-DAO-(ULD)_Sheridan-Wyoming-82801).
- Owners may also submit a proposal to list the property for sale and clear off debts, then liquidate and/or re-lend net proceeds.
## 2025-05-22
- Property Update (05/22/2025):
- The previous PM just advised that the tenant signed a 12-month lease renewal at $973, a $28 increase from the previous lease of $945.
- The new lease term is from 02/05/2025 to 02/04/2026.
- The lease renewal fee was $350 and was deducted from January's rent.
- The lease agreement is being redacted and will be uploaded to the property page once the redaction is complete.
## 2025-05-20
- Property Update (05/20/2025):
- Governance Results for 566 Nash St:
- The Governance Voting results are back for the owner-proposed governance vote to change property managers.
- The winning vote is:
- Yes [change property managers to Whalec Property Management]
- This voting option received 318/464 token votes, which is equal to 68.5% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3007465028) or by searching the application ID: 3007465028
## 2025-05-16
- Property Update (05/16/2025):
- Owner-Proposed Governance Vote for 566 Nash St:
- An Owner with the following [wallet address](https://allo.info/account/ZZCRQLKXGUMROJ2TL5XHEC5GVJQJVMNWWEHXN2J7BRFUKNU26LD6JCSYRQ) is proposing a governance vote.
- This owner holds 26 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.
- Hello 566 Nash St investors,
- I, Alec VanBeek (@Whalec) on the Lofty Discord, am proposing a vote to switch to Whalec Property Management given the slower responses we have received from the current PM. I am an owner in Nash St and very much believe this property could be performing even better. Whalec Property Management has successfully onboarded over 20 properties with significant improvements to providing updates in the discord chat. I would recommend reviewing the difference in communication. We have adjusted our terms to an agreement that automatically lowers the PM once a property is stabilized. We also manage two of the most successful properties of Lofty for 440 Louden Ave and 1580 Andover Dr. I have outlined my terms below:
To approve the transition of property management services from Evernest Property Management to Whalec Property Management
- Proposed Property Manager:
- Whalec Property Management
- Key Terms:
- Management Fee: 15% of Gross Monthly Rent until the property is stabilized at which point it lowers to 10% of Gross Monthly Rent. At this point the 5% decrease in PM fee will be directly sent to the operating reserve.
- Definition of stabilized: A property that has been receiving rent consistently for 4 months and has a 100% full operating reserve.
- Tenant Placement Fee: Equal to First Month’s Rent (only when a new tenant is placed)
- No Renewal Fees: $0 for lease renewals or re-leasing to existing tenants
- No Maintenance Upcharge: All maintenance costs are billed at actual cost with no markup directly on Hemlane (All invoices and repairs will be shared transparently in the discord)
- Maintenance Threshold: The maintenance threshold will be set during the transition for emergency and non-emergency repairs (Ex. $500 threshold for emergency repairs and $150 threshold for non-emergency repairs) (If these thresholds are not met the repairs will be made automatically)
- Feel free to ping me or DM me on discord. My name is (@whalec) in the lofty discord.
- Thanks,
- Alec
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, May 20th, once the voting period ends.
## 2025-05-16
- Property Update (05/16/2025):
- Owner-Proposed Governance Vote for 566 Nash St:
- An Owner with the following [wallet address](https://allo.info/account/ZZCRQLKXGUMROJ2TL5XHEC5GVJQJVMNWWEHXN2J7BRFUKNU26LD6JCSYRQ) is proposing a governance vote.
- This owner holds 26 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.
- Hello 566 Nash St investors,
- I, Alec VanBeek (@Whalec) on the Lofty Discord, am proposing a vote to switch to Whalec Property Management given the slower responses we have received from the current PM. I am an owner in Nash St and very much believe this property could be performing even better. Whalec Property Management has successfully onboarded over 20 properties with significant improvements to providing updates in the discord chat. I would recommend