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v3.3.1.900

RENTAL PROPERTIES (Details) | 24 Months Ended |  |  |  |
--- | --- | --- | --- | --- | ---
Dec. 31, 2015 USD ($) property item | Jan. 07, 2016 item | Sep. 18, 2015 item | Dec. 31, 2014 USD ($) item | Dec. 31, 2013 item
Rental properties |  |  |  |  |
Total fixed assets | $ 261,276,898 |  |  | $ 225,021,946 |
Less: Accumulated depreciation | (84,579,584) |  |  | (75,905,862) |
Total fixed assets, net | 176,697,314 |  |  | 149,116,084 |
Land, improvements and parking lots |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 52,852,877 |  |  | 44,541,471 |
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 | $ 172,277,299 |  |  | 153,059,430 |
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 | $ 8,493,696 |  |  | 6,865,348 |
Kitchen cabinets | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 5 years |  |  |  |
Kitchen cabinets | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 10 years |  |  |  |
Carpets |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 7,361,966 |  |  | 6,341,227 |
Carpets | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 5 years |  |  |  |
Carpets | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 10 years |  |  |  |
Air conditioning |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 718,531 |  |  | 705,116 |
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 | $ 244,771 |  |  | 147,721 |
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 |  |  | 444,629 |
Swimming pools | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 10 years |  |  |  |
Swimming pools | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 30 years |  |  |  |
Equipment |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 9,502,977 |  |  | 5,491,992 |
Equipment | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 5 years |  |  |  |
Equipment | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 7 years |  |  |  |
Motor vehicles |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 130,563 |  |  | 130,563 |
Useful Life | 5 years |  |  |  |
Fences |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 38,115 |  |  | 24,670 |
Fences | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 5 years |  |  |  |
Fences | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 15 years |  |  |  |
Furniture and fixtures |  |  |  |  |
Rental properties |  |  |  |  |
Total fixed assets | $ 7,855,351 |  |  | 5,910,046 |
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 | $ 216,827 |  |  | $ 220,437 |
Smoke alarms | Minimum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 5 years |  |  |  |
Smoke alarms | Maximum |  |  |  |  |
Rental properties |  |  |  |  |
Useful Life | 7 years |  |  |  |
Residences at CaptainParkers LLC Residential Apartments Lexington, Massachusetts |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of units | item |  | 94 | 94 |  |
Wholly owned properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of properties | property | 25 |  |  |  |
Investment Properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of units | item | 1,033 |  |  | 1,033 | 1,033
Investment Properties | Minimum |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Ownership interest (as a percent) | 40.00% |  |  |  |
Investment Properties | Maximum |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Ownership interest (as a percent) | 50.00% |  |  |  |
Residential and mixed-use properties | Wholly owned properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of units | item | 2,506 |  |  |  |
Number of properties | property | 21 |  |  |  |
Residential and mixed-use properties | Partially owned properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of units | item | 788 |  |  |  |
Number of properties | item | 9 |  |  |  |
Residential and mixed-use properties | Investment Properties | Partially owned properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of properties | item | 9 |  |  |  |
Residential and mixed-use properties | Investment Properties | Partially owned properties | Minimum |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Ownership interest (as a percent) | 40.00% |  |  |  |
Residential and mixed-use properties | Investment Properties | Partially owned properties | Maximum |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Ownership interest (as a percent) | 50.00% |  |  |  |
Condominium | Wholly owned properties |  |  |  |  |
RENTAL PROPERTIES |  |  |  |  |
Number of units | item | 19 |  |  |  |
Number of properties | property | 1 |  |  |  |

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