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RENTAL PROPERTIES (Details) (USD $) | 6 Months Ended |
--- | --- | ---
Jun. 30, 2013 | Dec. 31, 2012
Rental properties |  |
Total fixed assets | $ 160,799,789 | $ 158,624,893
Less: Accumulated depreciation | (66,507,720) | (63,651,293)
Total fixed assets, net | 94,292,069 | 94,973,600
Land, improvements and parking lots |  |
Rental properties |  |
Total fixed assets | 27,799,184 | 27,743,726
Land, improvements and parking lots | Minimum |  |
Rental properties |  |
Useful Life | 15 years |
Land, improvements and parking lots | Maximum |  |
Rental properties |  |
Useful Life | 40 years |
Buildings and improvements |  |
Rental properties |  |
Total fixed assets | 119,862,255 | 118,739,283
Buildings and improvements | Minimum |  |
Rental properties |  |
Useful Life | 15 years |
Buildings and improvements | Maximum |  |
Rental properties |  |
Useful Life | 40 years |
Kitchen cabinets |  |
Rental properties |  |
Total fixed assets | 3,963,114 | 3,544,868
Kitchen cabinets | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Kitchen cabinets | Maximum |  |
Rental properties |  |
Useful Life | 10 years |
Carpets |  |
Rental properties |  |
Total fixed assets | 3,499,777 | 3,218,975
Carpets | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Carpets | Maximum |  |
Rental properties |  |
Useful Life | 10 years |
Air conditioning |  |
Rental properties |  |
Total fixed assets | 761,371 | 746,043
Air conditioning | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Air conditioning | Maximum |  |
Rental properties |  |
Useful Life | 10 years |
Laundry equipment |  |
Rental properties |  |
Total fixed assets | 429,571 | 378,806
Laundry equipment | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Laundry equipment | Maximum |  |
Rental properties |  |
Useful Life | 7 years |
Elevators |  |
Rental properties |  |
Total fixed assets | 1,139,296 | 1,139,296
Elevators | Minimum |  |
Rental properties |  |
Useful Life | 20 years |
Elevators | Maximum |  |
Rental properties |  |
Useful Life | 40 years |
Swimming pools |  |
Rental properties |  |
Total fixed assets | 241,772 | 235,242
Swimming pools | Minimum |  |
Rental properties |  |
Useful Life | 10 years |
Swimming pools | Maximum |  |
Rental properties |  |
Useful Life | 30 years |
Equipment |  |
Rental properties |  |
Total fixed assets | 1,631,336 | 1,529,904
Equipment | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Equipment | Maximum |  |
Rental properties |  |
Useful Life | 7 years |
Motor vehicles |  |
Rental properties |  |
Total fixed assets | 101,657 | 101,657
Useful Life | 5 years |
Fences |  |
Rental properties |  |
Total fixed assets | 28,295 | 22,445
Fences | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Fences | Maximum |  |
Rental properties |  |
Useful Life | 15 years |
Furniture and fixtures |  |
Rental properties |  |
Total fixed assets | 1,143,141 | 1,031,348
Furniture and fixtures | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Furniture and fixtures | Maximum |  |
Rental properties |  |
Useful Life | 7 years |
Smoke alarms |  |
Rental properties |  |
Total fixed assets | $ 199,021 | $ 193,298
Smoke alarms | Minimum |  |
Rental properties |  |
Useful Life | 5 years |
Smoke alarms | Maximum |  |
Rental properties |  |
Useful Life | 7 years |
Residential and mixed-use properties |  |
RENTAL PROPERTIES |  |
Number of units | 2,219 |
Number of properties | 19 |
Residential and mixed-use properties | Partially owned properties |  |
RENTAL PROPERTIES |  |
Number of units | 798 |
Number of properties | 9 |
Residential and mixed-use properties | Partially owned properties | Minimum |  |
RENTAL PROPERTIES |  |
Percentage of ownership interest | 40.00% |
Residential and mixed-use properties | Partially owned properties | Maximum |  |
RENTAL PROPERTIES |  |
Percentage of ownership interest | 50.00% |
Condominium |  |
RENTAL PROPERTIES |  |
Number of units | 19 |

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- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a (1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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