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UPDATES.md

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Property917 Pawnee Ave, Memphis, TN 38109
FolderREADME & Property Snapshot
KindText
Updated2026-07-17
Dropbox path00 - README & Property Snapshot/UPDATES.md

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Property Updates ## 2026-07-17 - Property Update (07/17/2026): Hi everyone, We completed a review of the June financial data and updated the live Lofty listing financial fields for 917 Pawnee Ave. June accounting results: - Actual June revenue: $2,335.00 - Operating expenses: -$337.38 - Actual June NOI / Net Operating Cashflow: $1,997.62 Full financial summary for June 2026: - Revenue: $2,335.00 - Operating expenses: -$337.38 - NOI: $1,997.62 - Net Operating Cashflow: $1,997.62 - Scheduled mon

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# Property Updates

## 2026-07-17

- Property Update (07/17/2026):
Hi everyone,

We completed a review of the June financial data and updated the live Lofty listing financial fields for 917 Pawnee Ave.

June accounting results:
- Actual June revenue: $2,335.00
- Operating expenses: -$337.38
- Actual June NOI / Net Operating Cashflow: $1,997.62

Full financial summary for June 2026:
- Revenue: $2,335.00
- Operating expenses: -$337.38
- NOI: $1,997.62
- Net Operating Cashflow: $1,997.62
- Scheduled monthly rent: $1,145.00
- Excess cash revenue retained/not annualized: $1,190.00
- Recurring revenue basis: $1,145.00
- Recurring NOI: $807.62
- Recurring Net Operating Cashflow: $807.62
- Projected annual cash-flow basis: $9,691.44

Current reserve and cash position:
- Lofty OR / maintenance reserve target: $5,000.00
- Current Lofty OR balance: $5,000.00
- OR replenishment field: $0.00
- ECO Operating Cash / GL Column E: $1,677.44 across 41 rows

- Recurring monthly cash-flow basis: $807.62
- Projected annual cash flow: $9,691.44
- CoC / projected rental yield: 7.90%
- Excess June cash receipts retained/not annualized: $1,190.00

Accrual and retention notes:
- Taxes accrue at $98.38/month.
- DAO LLC fees accrue at $62.50/month.
- Any excess above the recurring distribution basis is being retained conservatively rather than over-distributed.

Thanks,
ECO Systems


## 2026-07-15

- Property Update (07/15/2026):
- Owner-Proposed Governance Vote for 917 Pawnee Ave:
    - An Owner with the following [wallet address](https://allo.info/account/2AQM7LDYFCM47KRIV64ZESAXEAXCMTMJCSXO252LRHRM34WNZE5BVVXA4M) is proposing a governance vote.
    - This owner holds 58 shares 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.
    - Governance Proposal: Strengthening Our Operating Reserve Policy
    - Date: July 15, 2026
    - Proposer: @SolumAlgo
    - Ownership: 58/2,160 shares (2.7%)
    - Dear Co-Owners,
    - I propose we amend our current Operating Reserve (OR) policy to make it more robust. Our older home has had a long-term tenant for many years and has gone without major maintenance for some time. This increases the risk of large repair costs in the near future.
    - Proposed Amendment
    - Increase contributions to 25% of Net Operating Income (NOI) until the OR reaches $10,000.
    - Once the target is met, continue contributing 10% of NOI in perpetuity.
    - The OR will continue to be used only for major repairs and capital improvements.
    - Quarterly statements showing NOI and OR balance will be shared with all owners.
    - Rationale
    - This change builds a stronger financial buffer against upcoming maintenance needs, reduces the likelihood of special assessments, and better protects our shared investment.
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, July 21st, once the voting period ends.

## 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: $2,335.00
Operating Expenses: -$337.38
NOI: $1,997.62
Net Operating Cashflow: $1,997.62

## 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: -$2,033.50 (Lofty curr_maintenance_reserve)
ECO Operating Cash: $1,358.75 (ECO Systems General Ledger Column E (45 rows))

## 2026-07-14


- Property Update (07/14/2026):
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: $2,335.00
Operating Expenses: -$337.38
NOI: $1,997.62
Net Operating Cashflow: $1,997.62

## 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: -$2,033.50 (Lofty curr_maintenance_reserve)
ECO Operating Cash: $1,358.75 (ECO Systems General Ledger Column E (45 rows))

Financial summary:
- Lofty-held current maintenance reserve: -$2,033.50
- ECO GL Column E sum: $1,358.75 (45 rows)
- 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: $2,335.00
Operating Expenses: -$337.38
NOI: $1,997.62
Net Operating Cashflow: $1,997.62

## 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: -$2,033.50 (Lofty curr_maintenance_reserve)
ECO Operating Cash: $1,358.75 (ECO Systems General Ledger Column E (45 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 | -$2,033.50 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | $1,377.00 | ECO Systems General Ledger Column E (44 rows) |

## Source Evidence

| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 917 Pawnee Ave.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 44 |
| ECO GL Column E sum | $1,377.00 |

Financial summary:
- Lofty-held current maintenance reserve: -$2,033.50
- ECO GL Column E sum: $1,377.00 (44 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: $4,942.44
- ECO GL Column E sum: $1,696.13 (42 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: $4,942.44
- ECO GL Column E sum: $1,696.13 (42 rows)

## 2026-06-27

- Property Update (06/27/2026):
Hi everyone,

Quick update on **917 Pawnee Ave, Memphis, TN 38109**:

- 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: $4,942.44
- ECO GL Column E sum: $1,696.13 (42 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.

- **Financial Update:**
- ECO Operating Cash: $1,983.50 (as of April 7, 2026)
- Tenant placement appears successful - remote deposits totaling $1,200 received on March 19, 2026
- Property transitioned to ECO Systems management December 2025
- Current lease term through June 2024 with renewal discussions underway

## 2026-06-27

- Property Update (06/27/2026):
Financial summary:
- Lofty-held current maintenance reserve: $4,942.44
- ECO GL Column E sum: $1,696.13 (42 rows)

- **Financial Update:**
- ECO Operating Cash: $1,983.50 (as of April 7, 2026)
- Tenant placement appears successful - remote deposits totaling $1,200 received on March 19, 2026
- Property transitioned to ECO Systems management December 2025
- Current lease term through June 2024 with renewal discussions underway

## 2026-04-10

- Property Update (04/10/2026):
- **Financial Update:**
    - ECO Operating Cash: $1,983.50 (as of April 7, 2026)
    - Tenant placement appears successful - remote deposits totaling $1,200 received on March 19, 2026
    - Property transitioned to ECO Systems management December 2025
    - Current lease term through June 2024 with renewal discussions underway

## 2026-01-16

- Property Update (01/16/2026):
- Governance Results for 917 Pawnee Ave:
    - The Governance Voting results are back for the owner proposed vote.
    - The winning vote is:
    - Yes - Change property management companies to Eco Systems, LLC
    - This voting option received 838 / 838 token votes, which is equal to 100% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3370987692) or by searching the application ID: 337098769

## 2025-12-16

- Property Update (12/16/2025):
- Governance Results for 917 Pawnee Ave:
- The Governance Voting results are back for the owner proposed vote.
- The winning vote is:
- Yes - Change property management companies to Eco Systems, LLC
- This voting option received 838 / 838 token votes, which is equal to 100% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3370987692) or by searching the application ID: 337098769

## 2025-12-10

- Property Update (12/10/2025):
- Owner-Proposed Governance Vote for 917 Pawnee Ave:
- An Owner with the following [wallet address](https://allo.info/account/2AQM7LDYFCM47KRIV64ZESAXEAXCMTMJCSXO252LRHRM34WNZE5BVVXA4M) is proposing a governance vote.
- This owner holds 1 token 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 Owners,
- I’m Daniel Murrey, SolumAlgo on Discord. I own 1 token in this property, but I have ~$3200 in USDC staked in the AMM Liquidity pool on this property, and therefore have a vested interest in the success of this property.
- I wouldn’t be submitting this proposal except that I have seen no other owners step up and take ownership of this major problem!
- For the month of December we are receiving no rents. If you haven’t been in the discord channel you should stop in and catch up. Our last month's rent was paid like usual to the property management company, HRG (HomeRiver Group Memphis) who has managed the property well for a long time and I know that previously the owners here have opted to not change management companies. Today Max with Lofty confirmed that: “HRG is withholding rent to pay unpaid bills for other properties, and will continue to do so unless owners vote to change managers.” - https://discord.com/channels/847877825373012018/1362189256163856594/1448417983520047177
- Unfortunately,