EQR » Topics » 4. Leases

This excerpt taken from the EQR 8-K filed Jan 4, 2008.

4. Leases

 

Minimum future rental revenues to be received from non-cancelable leases in effect at December 31, 2006 are as follows:

 

Year

 

Amount

 

 

 

 

 

2007

 

$

5,373,305

 

2008

 

732,618

 

2009

 

114,662

 

2010

 

108,986

 

2011

 

62,424

 

Thereafter

 

148,152

 

 

 

 

 

Total

 

$

6,540,147

 

 

19



Report of Independent Registered Public Accounting Firm

 

The Board of Trustees and Shareholders
Equity Residential

 

The Partners

ERP Operating Limited Partnership

 

We have audited the accompanying statement of revenue and certain expenses of the Greenwood Properties for the year ended December 31, 2006. This statement is the responsibility of the management of the Greenwood Properties (the “Properties”). Our responsibility is to express an opinion on this statement based on our audit.

 

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the statement is free of material misstatement. We were not engaged to perform an audit of the Properties’ internal control over financial reporting.  Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Properties’ internal control over financial reporting.  Accordingly, we express no such opinion.  An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

 

The accompanying statement was prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission for inclusion in a Current Report on Form 8-K of Equity Residential and ERP Operating Limited Partnership, as described in Note 1, and is not intended to be a complete presentation of the Properties’ revenue and expenses.

 

In our opinion, the statement referred to above presents fairly, in all material respects, the revenue and certain expenses of the Greenwood Properties for the year ended December 31, 2006, in conformity with U.S. generally accepted accounting principles.

 

 

/s/ Ernst & Young LLP

 

 

 Ernst & Young LLP

 

 

Chicago, Illinois

December 21, 2007

 

 

20



 

This excerpt taken from the EQR 8-K filed Mar 6, 2007.

4. Leases

Minimum future rental revenues to be received from non-cancelable leases in effect at December 31, 2005 are as follows:

Year

Amount

 

2006

$363,185

 

2007

335,470

 

2008

159,602

 

2009

84,114

 

2010

54,058

 

Thereafter

4,031

 

Total

$1,000,460

 

 

Total minimum future rental income represents the base rent tenants are required to pay under the terms of their leases exclusive of charges for contingent rents, real estate taxes and operating cost escalations.

47




Report of Independent Registered Public Accounting Firm

The Board of Trustees and Shareholders
Equity Residential

The Partners

ERP Operating Limited Partnership

We have audited the accompanying statement of revenue and certain expenses of Kenwood Mews for the year ended December 31, 2005. This statement is the responsibility of the management of Kenwood Mews (the “Property”). Our responsibility is to express an opinion on this statement based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the statement is free of material misstatement. We were not engaged to perform an audit of the Property’s internal control over financial reporting.  Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Property’s internal control over financial reporting.  Accordingly, we express no such opinion.  An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

The accompanying statement was prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission for inclusion in a Current Report on Form 8-K of Equity Residential and ERP Operating Limited Partnership, as described in Note 1, and is not intended to be a complete presentation of the Property’s revenue and expenses.

In our opinion, the statement referred to above presents fairly, in all material respects, the revenue and certain expenses of Kenwood Mews for the year ended December 31, 2005, in conformity with U.S. generally accepted accounting principles.

/s/ Ernst & Young LLP

 

Ernst & Young LLP

 

 

Chicago, Illinois

February 22, 2007

48




This excerpt taken from the EQR 8-K filed Mar 7, 2006.

4. Leases

 

Minimum future rental revenues to be received from non-cancelable commercial leases in effect at September 23, 2005 are as follows:

 

Year

 

Amount

 

2005

 

$

2,222,243

 

2006

 

2,106,227

 

2007

 

1,986,159

 

2008

 

1,355,155

 

2009

 

1,084,394

 

Thereafter

 

2,046,135

 

Total

 

$

10,800,313

 

 

Total minimum future rental income represents the base rent commercial tenants are required to pay under the terms of their leases exclusive of charges for contingent rents, real estate taxes, and operating cost escalations.

 

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