Investors love reporting. Investment is a business, and they want to know how that business is performing. Our communication process and our reporting process with our investors is a highly iterative process. For our investors who have been with us for years, they remember when we just sent out an email with a few lines on it and attached the financials and that was it.
Now, we’ve got very stringent quarterly reporting that includes the occupancy metrics, trending occupancy, trending gross income, trending net-operating income. We’re showing graphs. We’re giving a qualitative update with what’s been happening. We’re also showing before-and-after photos, especially if we’re still in the renovation phase.
These are people’s hard-earned dollars. It’s the fruits of their labor and ultimately their nest egg, on which they plan to retire. They deserve a quarterly update, a quarterly report showing what’s going on with that investment.