If
you have any questions or would like to request a hard copy of the Form 10-K
(available April 15th), please call 800-541-7767 or visit our
web-site at www.uniprop.com and
click on “Latest Results of Public Funds”.
Distributions: The General Partner is
pleased to have maintained distributions of $0.92 per unit for the year 2003.
Cash reserves were $2,652,394 or $797 per home site at the end of 2003 compared
to $3,118,034, $936 per home site at the end of 2002
Property Data: Occupancy rates and average
rents are outlined in the table below:
|
Property |
Sites |
12/03 Occupancy |
12/02 Occupancy |
12/03 Avg. Rent |
12/02 Avg. Rent |
|
Ardmor |
339 |
89% |
93% |
$394 |
$374 |
|
Camelot
Manor |
335 |
77% |
79% |
$372 |
$365 |
|
Country
Roads |
311 |
73% |
80% |
$272 |
$261 |
|
Dutch
Hills |
278 |
89% |
94% |
$374 |
$360 |
|
El
Adobe |
367 |
73% |
77% |
$450 |
$432 |
|
Paradise
Village |
614 |
58% |
64% |
$335 |
$325 |
|
Stonegate |
308 |
76% |
79% |
$374 |
$363 |
|
Sunshine
Village |
356 |
90% |
94% |
$494 |
$477 |
|
West
Valley |
421 |
79% |
85% |
$512 |
$494 |
|
COMBINED |
3,329 |
79% |
83% |
$398 |
$384 |
Consolidated Financial
Results:
For the fiscal year ending December 31, 2003 the partnership generated Gross
Revenues of $14,402,693 compared to $13,741,599 in 2002. Net Income was $2,111,703
compared to $2,117,986 in 2002.
Payments to Affiliates: Property management fees
paid to Uniprop, an affiliate, were $613,980 for 2003 compared to $624,188 for
the year 2002.
Genesis Associates, the General Partner
Paul M. Zlotoff, Its General Partner