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CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015
Revenues |  |  |  |
Rental income | $ 12,136,355 | $ 10,948,498 | $ 24,209,211 | $ 21,921,289
Laundry and sundry income | 117,909 | 112,920 | 228,341 | 215,649
Total Revenues | 12,254,264 | 11,061,418 | 24,437,552 | 22,136,938
Expenses |  |  |  |
Administrative | 455,160 | 487,233 | 953,416 | 1,020,310
Depreciation and amortization | 3,060,994 | 2,477,497 | 6,088,148 | 4,919,024
Management fee | 501,288 | 465,716 | 1,001,495 | 916,419
Operating | 1,069,692 | 908,112 | 2,493,937 | 2,994,297
Renting | 155,962 | 155,274 | 243,226 | 221,201
Repairs and maintenance | 2,193,186 | 1,822,707 | 3,820,886 | 3,169,921
Taxes and insurance | 1,583,385 | 1,450,928 | 3,187,255 | 2,913,904
Total Expenses | 9,019,667 | 7,767,467 | 17,788,363 | 16,155,076
Income Before Other Income (Expense) and Discontinued Operations | 3,234,597 | 3,293,951 | 6,649,189 | 5,981,862
Other Income (Expense) |  |  |  |
Interest income | 203 | 168 | 405 | 362
Interest expense | (2,542,692) | (2,419,248) | (5,096,325) | (4,822,928)
Income (Loss) from investments in joint ventures | 288,478 | 221,586 | 658,082 | 346,820
Total Other Income (Expense) | (2,254,011) | (2,197,494) | (4,437,838) | (4,475,746)
Net Income | $ 980,586 | $ 1,096,457 | $ 2,211,351 | $ 1,506,116
Income per Unit |  |  |  |
Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax | $ 7.85 | $ 8.66 | $ 17.69 | $ 11.87
Weighted Average Number of Units Outstanding (in units) | 124,923 | 126,646 | 125,032 | 126,859

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