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08 - Repairs & Maintenance - Renovations & Updates - 8708 Willard Avenue, Cleveland, OH 44 - 8708 Willard Ave, Cleveland, OH 44102.md

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Property Updates - **Property Update (2026-04-08):** April 2026 Property Update: · Field · Value · · ------- · ------- · · Yhome Net Due TO DAO · $-19,897.82 · · Lofty Operating Cash · $-5,156.98 · · ECO Operating Cash · $4,941.79 · · Outstanding Liabilities (Unpaid Bills) · $0.00 · · DAO Net Cash (Capital Call) · $-11,463.46 · · Estimated Owners' Equity · $127,262.53 · · DAO Estimated NAV Per Token · $40.52 · · DAO Tokens · 2638 · · Current PM · ECO · Yhome transition reconciliation as of April 6

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# Property Updates

- **Property Update (2026-04-08):**

    April 2026 Property Update:

| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-19,897.82 |
| Lofty Operating Cash | $-5,156.98 |
| ECO Operating Cash | $4,941.79 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-11,463.46 |
| Estimated Owners' Equity | $127,262.53 |
| DAO Estimated NAV Per Token | $40.52 |
| DAO Tokens | 2638 |
| Current PM | ECO |


    Yhome transition reconciliation as of April 6, 2026.

    Property under ECO management. Transition reconciliation complete.

# Property Updates

## 2025-11-05

- Property Update (11/05/2025):
- From your PM, ECO Systems, LLC:
- Tenant is paid up and current on rents in Hemlane. Property is stable but has ongoing pest issues being resolved. Yield will remain zero until all debts are settled, and a DAO member proposes a new maintenance reserve balance and decides on custody.
- DAO Cash by Lofty: $891.89 (not sure if this is net of the $632.63 owed to Evernest after the $6,511 in non-existent repairs was disputed, awaiting verification from Lofty)
- EARLDAO Balance Owed: ($11,000) (out of $20,000 initially borrowed)
- DAO Cash held by ECO Systems: $413.88
- DAO Estimated NAV: $47.74/share
- [View Complete Financial Reconciliation](https://www.dropbox.com/scl/fi/0yf0syxxxm58zpguib5nz/Yhome-Transition-Reconciliation.xlsx?rlkey=scd9dt8dr37nuiw2rmuwbt6es&st=au2ec7l6&dl=0)

## 2025-07-15

- Property Update (07/15/2025):
- Governance Results for 8708 Willard Ave:
- The Governance Voting results are back for the owner-proposed vote.
- The winning vote is:
- Option 1 – Approve Revised Payments
- This option received 450/550 token votes which is equal to 82% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3120230586) or by searching the application ID: 3120230586

## 2025-07-12

- Property Update (07/12/2025):
- Owner-Proposed Governance Vote for 8708 Willard Ave:
- The new owner-elected property manager, Earl Co with ECO Systems LLC, is proposing a governance vote.
- This owner holds 1 token in this property and has the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM)
- 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.
- Dear Fellow Investors,
- [Here is a summary](https://www.dropbox.com/scl/fi/puda8aigoqwtojqldto65/2025-07-11-Financial-Update-and-Proposal.docx?rlkey=jntqzcf6t6i6pgmj26ggvd9v8&e=1&dl=0) of the current financial position for 8708 Willard Ave (Parcel #005-29-006), managed by ECO Systems LLC ℅ Aligned Properties Group. Please review and vote in the following proposal to determine how the DAO should address the incomplete $6,000 “entire exterior vinyl siding install" expense paid by Yhome Nursing LLC without prior DAO approval. This work was actually [completed by Gruzmarg Interiors on 4/21/2025](https://www.dropbox.com/scl/fi/lr30n087iv2y8q3y48xwr/Siding-Repairs-8708-Willard-Ave-Cleveland-OH-44102.pdf?rlkey=t9pm4o07ggznc081fdysav0rh&e=1&dl=0) at a cost of [$15,000](https://next.waveapps.com/a/invoices/c3846150-b8a2-4d7c-abab-75112fbf7952/public/2241263349163625891/a58fff9901a14655ae574a6174785843).
- [Yhome Transition Reconciliation Balance Sheet](https://www.dropbox.com/scl/fi/0yf0syxxxm58zpguib5nz/Yhome-Transition-Reconciliation.xlsx?rlkey=4rurmo3m2swur63oxq0hafr01&e=1&dl=0)
- I am available to answer any questions on Discord or via email to ecosystemspm@gmail.com. Thank you for your prompt attention and participation.
- Earl Co
- Manager, ECO Systems LLC
- Member, Lofty Holding 8708 Willard Avenue DAO LLC
- 1. Background & Occupancy
- Expense: $6,000 paid by Yhome on 12/05/2024 for vinyl siding replacement
- Context: No governance vote or budget allocation was in place for this work
- Impact: As a result, the DAO’s net cash position fell into a –$7,614.22 shortfall; rejecting this charge would restore a small positive balance of +$194.96
- Occupancy: 1 of 1 units occupied
- 2. Operating Reserve Activity
- Tax payment (5/27/25): –$1,842.94 (paid by Lofty from OR bank account)
- OR draw: –$4,000.00 (loan to EarlDAO)
- Accounts payable (Evernest): $7,143.63 (separate liability; not an OR expense)
- Resulting OR cash balance: –$7,614.22
- 3. Major Disbursements
- Yhome → Vendors: $15,162.94
- Yhome → I&R Realty and Construction via Aligned: $6,000.00 on 12/5/2024 for Install vinyl to entire exterior of house - [PHOTOS](https://www.dropbox.com/scl/fi/6bnim90x0ikvqfhy3so66/34.jpg?rlkey=z1l2tpzr929gwhydrxytjwade&e=1&dl=0) REVEAL THIS WAS NOT DONE
- DAO PM fees accrued to Yhome: $164.69
- Yhome Net Due to DAO: $21,327.63
- 4. Cash & Reserve Balances
- Aligned Operating Cash: $1,415.60
- Aligned Property Reserve: $0.00
- ECO Operating Cash: $126.21
- No outstanding unpaid bills in the Aligned account
- 5. Outstanding Obligations & Capital Calls
- Capital Call due to Yhome: $19,732.63
- Capital Call due to Lofty and Evernest: $7,614.22
- Net Borrowed from EarlDAO: $16,000.00
- DAO Net Cash Position (Capital Call Required): –$5,805.05
- 6. Voting Options (Ranked Choice)
- Option 1 – Reject Expense
- Vote to reject the incomplete $6,000 vinyl exterior replacement expense. Yhome Nursing LLC will be required to reimburse the DAO’s Operating Reserve in full.
- Outcome: DAO Net Cash → $194.96
- Option 2 – Negotiate Settlement
- Authorize ECO Systems LLC to negotiate a goodwill settlement with Yhome Nursing LLC for partial reimbursement (e.g. 50–75% of the $6,000 cost). Any agreed-upon amount will be reimbursed to the DAO’s Operating Reserve.
- Option 3 – Approve Expense
- Vote to approve the incomplete $6,000 vinyl exterior replacement expense. Yhome Nursing LLC will be reimbursed in full out of the pre-authorized EARLDAO loan.
- Outcome: DAO Net Cash → ($5,805.05)
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, July 15th, once the voting period ends.

## 2025-07-12

- Property Update (07/12/2025):
- Owner-Proposed Governance Vote for 8708 Willard Ave:
- The new owner-elected property manager, Earl Co with ECO Systems LLC, is proposing a governance vote.
- This owner holds 0 tokens in this property and has the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM)
- 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.
- Governance Proposal Update – Correction to Renovation and Repair Invoices
- Important Update to Prior Proposal
- After reviewing the [photos provided by Cal](https://www.dropbox.com/scl/fi/cys26iaf6nd18mp07vgct/Photos-from-Cal-8708-Willard-Ave-Cleveland-OH-44102.pdf?rlkey=wx6a64j04e05j35e0emiljsg0&e=1&dl=0) (dated 10/27/24), additional documents in Dropbox, and Cal’s own statements, it has become clear that the [$6,511 for “Turn Renovation” billed by Evernest](https://www.dropbox.com/scl/fi/kizv0f20776zhdwgarz03/Evernest-Full-Historical-Report-8708-Willard-Ave-Cleveland-OH-44102.pdf?rlkey=rt37kfd8wu58z3hv9bg58o32p&e=1&dl=0) was never actually completed, yet this was billed in their [Owner Statement](https://www.dropbox.com/scl/fi/kizv0f20776zhdwgarz03/Evernest-Full-Historical-Report-8708-Willard-Ave-Cleveland-OH-44102.pdf?rlkey=rt37kfd8wu58z3hv9bg58o32p&e=1&dl=0).
- According to the Property Update on 9/21/24:
- "The vendor informed the property manager that the repairs will not be completed by 9/20 as previously scheduled. The vendor has provided an updated estimated completion date of 9/28. The property manager has scheduled the final inspection to take place on 9/30."
- Further, the $6,000 payment to I&R Realty and Construction on 12/5/24 was for the same scope of work, not for the exterior siding as previously stated. The $8,000 billed for siding was ultimately removed from the scope of work on the I&R estimate after it was sent to Aligned.
- Therefore:
- Yhome should be reimbursed for the $6,000 payment to I&R Realty and Construction, which was [legitimately performed](https://www.dropbox.com/home/LLC%20Documents/8708%20Willard%20Avenue%2C%20Cleveland%2C%20OH%2044102/Public/Yhome%20Nursing%20LLC).
- Evernest’s $6,511 bill should be disputed and not approved for payment. This restores the DAO’s positive reserve balance once funds are reimbursed to Lofty for tax payments.
- The prior vote to approve the $6,511 expense should be retracted.
- The DAO’s Net Cash is $705.95 after prior approvals to borrow $20,000 from EARLDAO, less $4,000 lent to EARLDAO.
- Summary of Findings
- Invoice/Bill
- Amount
- Status
- Evernest “Turn Renovation”
- $6,511
- Dispute – Not Performed
- I&R Realty and Construction Turn Repairs
- $6,000
- Reimburse Yhome
- Updated Voting Options
- Option 1 – Approve Revised Payments
- Dispute Evernest’s $6,511 invoice and require them to provide definitive proof of work performed on a line-item basis before any payment or reimbursement is approved
- Approve reimbursement to Yhome for the $6,000 repairs performed by I&R Realty
- Option 2 – Approve All Payments
- Approve Evernest’s full estimate and Owner Statement invoice as provided, even without definitely proof of work performed
- Next Steps
- The prior vote is hereby retracted due to misunderstanding of the invoice documentation.
- Please review this updated information and cast a new vote on how to proceed.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, July 15th, once the voting period ends.

## 2025-05-27

- Property Update (05/27/2025):
- Governance Results for 8708 Willard Ave:
- The Governance Voting results are back for the owner-proposed votes.
- The first winning vote is:
- Capital call of $20,000, backed by EARLDAO. 12% APR, interest-only, 1-year balloon. Non-dilutive. Repaid from rent or eventual sale.
- This option was declared the winner in Round 1 with 740 token votes via the Ranked Choice Voting method.
- The voting results can be found on chain [here](https://allo.info/application/3058324633) or by searching the application ID: 3058324633
- The second winning vote is:
- Migrate to Hemlane (10% PM Fee)
- PM Fee: 10% to ECO Systems only
- Leasing Fee: $695 or 50% of first month’s rent, whichever is greater
- No markup on Repairs & Maintenance
- Self-guided leasing via Hemlane; no rent-ready cost required
- Subject to Hemlane's ability to secure a Local Agent in Charge (LAIC) residing in Cuyahoga or an adjacent county
- This option received 782 / 913 token votes, which is equal to 85.6% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3058328958) or by searching the application ID: 3058328958

## 2025-05-27

- Property Update (05/27/2025):
- Governance Results for 8708 Willard Ave:
- The Governance Voting results are back for the owner-proposed vote.
- The winning vote is:
- Option 1 - Contribute 100% of Suggested Cash to Lend: Authorize the DAO to contribute its eligible surplus funds to EARLDAO for use as a lending pool, supporting repairs, insurance, and delinquent tax payments for eligible DAOs. 12% APR & 1-year maturity.
- This option was declared the winner in Round 3 with 813 token votes via the Ranked Choice Voting method.
- The voting results can be found on chain [here](https://allo.info/application/3020357835) or by searching the application ID: 3020357835

## 2025-05-23

- Property Update (05/23/2025):
- Owner-Proposed Governance Vote for 8708 Willard Ave:
- The new owner-elected property manager, Earl Co with ECO Systems LLC, is proposing a governance vote.
- This owner holds 1 token in this property and has the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2U