Berkshire's

1. Welcome to Berkshire's New Employee Orientation

2. Welcome New Team Members • We would like to welcome you to a team committed to excellence! • Your contribution to the company can make the essential difference necessary for success!

3. Berkshire Policy Manuals • Where to find information: • Employee Handbook - OR - • By visiting the employee section of the Berkshire Website www.berkshireapartments.com

4. Employee Handbook • Were you given an Employee Handbook on your first day of employment? • All practices apply to full time and part time employees unless otherwise designated.

5. Berkshire Website • User name: employee • Password: Changes Monthly. On the 1st of every month the new password will be emailed to the property. www.berkshireapartments.com

6. Equal Employment Opportunity Statement • We are committed to providing equal opportunity in all practices that affect employees and applicants for employment • Decisions are made without regard to their Race Color Religion Sex National origin Age Disability Or any other protected category status

7. Customer Service • Berkshire is a service organization working with and for our customers. • Who is our Customer? • Prospective Residents • Current/Previous Residents • Property Owners/Investors • People making business information inquiries

8. Customer Service • It is important to meet company objectives and to satisfy the needs of customers and residents. • Customer Service should be personalized, prompt and sincere. • Genuine interest and concern should be communicated to each customer and resident. • Keep a positive attitude and be willing to take extra steps to solve a problem.

9. Who is Berkshire Property Advisors, LLC?

10. Berkshire Property Advisors, LLC (BPA) is the operating entity of The Berkshire Group that is responsible for the property management of it’s multifamily portfolio and a series of funds:Berkshire Income Realty Fund (BIR) Berkshire Multifamily Value Fund (BMVF) Joint Venture (Empire) APTCO

11. Our Organization • Corporate Headquarters – Boston, MA • National Office – Atlanta, GA • Regional Offices • Laurel, MD • Atlanta, GA • Leesburg, FL • Dallas, TX • District Offices • Houston, TX • Newport News, VA • Chicago, IL • Denver, CO

12. Company Philosophy • Berkshire Property Advisors is a community management organization dedicated to the satisfaction and comfort of our residents. • As a representative of Berkshire, you are expected to continually treat our customers fairly and courteously while providing prompt, efficient service. • Indeed our motto, “We Put You First” is not just a slogan, but the essence of our business. • Your commitment to these principles is fundamental to the success of our company.

13. Core Values • Trust – Honesty – Integrity • Respect for others • Drive towards excellence • Commitment

14. Focal Points • Recruit, develop, motivate, reward and retain the best employees. • Provide exceptional customer service • Drive revenue • Creatively develop marketing and leasing programs including using all available technology designed to maximize and close qualified traffic. • Achieve property performance standards through effective communication of property goals, matrix objectives and teamwork at all times. • Maximize sustainable NOI growth • Promote a corporate culture that nurtures an environment for success and excellence in execution as measured by our residents and employees. • Actively monitor local submarkets and seek out acquisition opportunities for our company.

15. Compensation

16. Pay Schedule • Bi-weekly on Fridays - Paychecks are distributed at noon. The paycheck covers the two week period ending the preceding Friday.

17. Direct Deposit • Employees may elect to have their pay automatically deposited into their checking or savings account on a bi-weekly basis.

18. Time Cards • Employees are required to use a time clock or time sheet! • Record actual hours worked DAILY!! • Occasionally you will be asked by Boston to send in employee time cards for review. Falsification of time on time records will be cause for immediate dismissal.

19. Overtime • Must be authorized in advance by a supervisor. • Overtime may be required. • Overtime is for emergency and critical service only!

20. Overtime Compensation • An hourly employee required to physically work over 40 hours in a work-week will be given: • Pay at 1 ½ times the regular rate - OR - • Time off during thesameweek The practice of carrying overtime into another work-week is NOT acceptable!

21. Overtime Compensation • Remember - you must physically work 40 hours in 1 work-week to be eligible for overtime. Holiday, sick & vacation hours are not considered as “physically worked”.

22. On Call Procedures • Employees who must perform emergency work duties while on-call should also record travel time to and from the property as time worked and document on the on-call log. Maximum travel time allowed one way is 30 minutes

23. On Call Procedures • Responsibilities of the On Call Maintenance Technician: • Maintain professional behavior • Have a working phone • Carry a pager • Respond immediately when phoned or paged • Dress appropriately • Wear company identification badge • Refrain from consuming alcohol

24. Company Bonus Programs • Annual and Quarterly Bonus Program • Leasing Commissions • Renewal Bonus • Employee Referral Bonus

25. Property Bonus Program • Awards all property personnel for achieving pre-determined goals. • The potential maximum is 10% of total compensation.

26. Property Bonus Program 3% is based on achievingbudgeted total revenue 3% is based on achievingbudgeted controllable operating expenses 4% (1% quarterly) is based on achieving performance of the thirteen operations goals reflected on the Monthly Performance Matrix Total - 10% of your Total Compensation

27. Matrix Report • Net Effective Rent Above Budget • Total Month Traffic Over Prior Year • Total Net Closing Above 20% • Physical Occupancy at or above budget • Availability at 8% or less • Economic Occupancy at or above budget • Net Bad Debt at 1% or Less at Month End • Delinquency at 1% or Less • Renewal Increases at or above budget • Resident retention at 60% or above • Work Orders at 5% or Below • Vacant Ready at 75% or Greater • Lease Expirations Under 10.99%

28. Property Bonus Program • Explanation of quarterly goal Average Goals AchievedQuarterly % of Salary 10 - 13 1.0% 7 - 9 .75% Less than 7 0%

29. Leasing Commissions • Employees are paid for leasing apartments, lease application process and completing required move-in paperwork. • Commissions are paid for on site transfers if the initial lease term has been fulfilled. • ½ the regular commission is paid to an employee who refers a prospect to a sister community and they lease.

30. Renewal Bonus • Each property will have a monthly lease renewal goal. • Renewal Programs are market driven and must be approved by a RVP and the COO. • Leases that revert to MTM do not count as a part of the renewal bonus, nor will commissions be paid on these renewals.

31. Employee Referral Bonus • If you know someone who is a team player, innovative, willing to go the extra mile, and driven to succeed, refer them to Berkshire Team and you will receive… A bonus amount of $500.00

32. Fully Compensated Apartments • Only the following employees are eligible for fully compensated apartments: • Property Managers • Maintenance Supervisors • “On-call” Maintenance Techs Eligible employees must live at the property at which they work!

33. Discounted Apartments • All other full-time employees may choose to reside on-site after being employed 30 days and receive 25% off current market rents based on qualification. • RVP must approve community. • Employee must reside in apartment. • If two employees share an apartment, the discount will be 50% (maximum discount per apt. 50%). • Employees receiving a discount will be required to have their rent deducted from their payroll check.

34. Employee Apartments • Employee lease’s will be month-to-month and will include a 15 day notice to vacate upon termination of employment. • Utilities must be placed in the employee’s name before move in. Maryland employee are required to sign the Maryland Employee License Agreement (verses a lease).

35. Employment Practices

36. Employment Classifications • Full-time employees are scheduled to work 30 hours or more per week on a regular basis. • Professional Staff – Fixed salary employees “exempt” from overtime. • Support Staff – Hourly employees eligible for overtime.

37. Time Records • Salaried (Professional Staff “overtime exempt”) Employees must record time off for vacation, sick, holiday, etc… • Hourly (Support Staff “non-exempt”) Employees – Overtime eligible Must record actual hours worked DAILY

38. Payroll Deductions • We uphold the law on required deductions… • Required Federal, State and Local taxes • Court-ordered payments • Authorized Benefit Plan Deductions • Optional employee convenience programs • Company Claims • All other agreed upon deductions

39. New Hire Paperwork • Most benefit elections require you to sign up within the first 30 days of employment. • If you did not have the required documents to verify employment eligibility (I-9) get them ASAP. You have only 90 days to present us with the forms.

40. Worker’s Compensation • Workers’ Compensation insurance provides compensation for disability or death as a result of injuries suffered in the course of employment. • Workers’ Compensation insurance begins on the first day of employment! • Report all accidents and injuries to your supervisor immediately. • Report any injury, even if it only required minor first aid.

41. Benefits

42. Medical and Dental Insurance • Enrollment is required within the first 30 days • Insurance becomes active after 90 days of employment • Only full-time regular employees will be eligible for medical insurance • Employee contributions are deducted from your pay • Open enrollment is July of every year • Employee, dependent and/or domestic partner coverage

43. Medical and Dental Insurance Coverage Bi-Weekly Rate Bi-Weekly Rate Medical Rates Dental Rates 100/80 90/70 Employee Only $52.39 $40.27 $14.27 Employee + Child(ren) $92.28 $75.67 $34.49 Employee + Spouse $112.37 $86.57 $34.49 Family $140.90 $108.30 $34.49 • Note: for rates on domestic partner coverage, contact Human Resources

44. Medical and Dental Insurance • Once enrolled employees cannot change their election at any time during the plan year unless they experience a qualifying event: • Divorce • Birth or adoption of a child • Marriage • Loss of spouse’s coverage

45. What is Blue Care Elect Preferred? • PPO (Preferred Provider Organization) Plan • In Network: Use Any BCBS PPO Provider • Out of Network: Use Any Provider

46. Vision Care Program • BCBS has routine vision care coverage treatment through ophthalmologists or optometrists in the PPO network. • Routine eye exams are covered every 24 months.

47. Dental Blue For DenteMax providers and coverage information call: 1-800-882-1178 If you choose a dentist outside the DenteMax network, please have the dentist call DenteMax to determine your payment portion

48. The “Extras” • Blue Care Line • Living Healthy Babies • Eyewear Discount Program • Health Club Discount • Safe Beginning Discount • Bicycle Helmet Discount • Car Seat Discounts • Weight Loss Rewards ....and much more!

49. Check the Benefits To view benefits and awards go to: www.bluecares.com Call 1888 247-BLUE(2583) and ask for the Everyday Rewards booklet

50. Company-Paid Life Insurance • No enrollment required • 30 day waiting period • Refer to SPD (Summary Plan Description) for details • Full time employees eligible