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CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
Revenues |  |  |  |
Rental income | $ 13,321,770 | $ 12,273,589 | $ 38,636,732 | $ 36,482,801
Laundry and sundry income | 100,035 | 98,292 | 316,471 | 326,633
Total Revenues | 13,421,805 | 12,371,881 | 38,953,203 | 36,809,434
Expenses |  |  |  |
Administrative | 525,125 | 524,293 | 1,513,869 | 1,477,708
Depreciation and amortization | 3,664,997 | 3,079,368 | 9,647,751 | 9,167,516
Management fee | 544,399 | 511,730 | 1,599,647 | 1,513,226
Operating | 1,051,910 | 995,787 | 3,797,935 | 3,489,724
Renting | 301,423 | 301,696 | 482,157 | 544,923
Repairs and maintenance | 2,678,780 | 2,364,364 | 6,187,673 | 6,185,250
Taxes and insurance | 1,727,218 | 1,496,807 | 5,083,674 | 4,684,062
Total Expenses | 10,493,852 | 9,274,045 | 28,312,706 | 27,062,409
Income Before Other Income (Expense) | 2,927,953 | 3,097,836 | 10,640,497 | 9,747,025
Other Income (Expense) |  |  |  |
Interest income | 416 | 305 | 1,132 | 710
Interest expense | (3,046,818) | (2,553,771) | (8,113,197) | (7,650,096)
Income from investments in unconsolidated joint ventures | 990,169 | 562,584 | 2,721,231 | 1,220,666
Gain on sale of real estate |  | 103,793 |  | 103,793
Total Other Income (Expense) | (2,056,233) | (1,887,089) | (5,390,834) | (6,324,927)
Net Income | $ 871,720 | $ 1,210,747 | $ 5,249,663 | $ 3,422,098
Income per Unit |  |  |  |
Net Income per Unit (in dollars per unit) | $ 7.01 | $ 9.69 | $ 42.20 | $ 27.38
Weighted Average Number of Units Outstanding (in units) | 124,387 | 124,923 | 124,394 | 124,995

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