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RENTAL PROPERTIES (Details) (USD $) | 12 Months Ended |
--- | --- | ---
Dec. 31, 2013 | Dec. 31, 2012
Rental properties |  |
Total fixed assets | $ 221,454,286 | $ 158,624,893
Less: Accumulated depreciation | (68,549,625) | (63,651,293)
Total fixed assets, net | 152,904,661 | 94,973,600
Land, improvements and parking lots |  |
Rental properties |  |
Total fixed assets | 43,919,728 | 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 | 152,130,635 | 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 | 5,956,078 | 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 | 5,820,516 | 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 | 707,928 | 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 | 404,775 | 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 | 444,629 | 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 | 5,038,530 | 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 | 86,657 | 101,657
Useful Life | 5 years |
Fences |  |
Rental properties |  |
Total fixed assets | 24,670 | 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 | 5,564,621 | 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 | $ 216,223 | $ 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 | 2,412 |
Number of properties | 20 |
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% |

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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 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 + Details
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