--Hello all, I hope you had a great Labor Day weekend and wonderful summer. As we near the end of summer and as fall approaches, I just wanted to keep you abreast as we do from time to time, on utility rates and historic trends. Many utility providers adjust their rates around this time of year. One of those is Pepco-MD whose new rate last year took effect October 1st and and as you can see from the table below, it was a very dramatic increase. It appears both electricity and natural gas utility rates have somewhat stabilized from the volatility of last year with inflationary pressures easing a bit. While we don't anticipate as dramatic an increase this fall into winter, you can expect some increase if history is any indicator. Please reach out if you would like to address this critical component as it relates to the financial performance of your multifamily portfolio. | 
