XML 52 R40.htm IDEA: XBRL DOCUMENT
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RENTAL PROPERTIES (Details) | 12 Months Ended |  |
--- | --- | --- | ---
Dec. 31, 2017 USD ($) property item | Dec. 31, 2016 USD ($) item | Dec. 31, 2015 item
RENTAL PROPERTIES |  |  |
Number of units | item |  |  | 1,033
Rental properties |  |  |
Total fixed assets | $ 311,951,597 | $ 263,659,293 |
Less: Accumulated depreciation | (104,797,803) | (94,196,482) |
Total fixed assets, net | 207,153,794 | 169,462,811 |
Land, improvements and parking lots |  |  |
Rental properties |  |  |
Total fixed assets | $ 65,087,214 | 52,612,929 |
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 | $ 201,844,565 | 173,536,288 |
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 | $ 12,338,627 | 8,738,323 |
Kitchen cabinets | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Kitchen cabinets | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Carpets |  |  |
Rental properties |  |  |
Total fixed assets | $ 8,802,831 | 7,621,292 |
Carpets | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Carpets | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Air conditioning |  |  |
Rental properties |  |  |
Total fixed assets | $ 641,079 | 690,535 |
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 | $ 263,275 | 269,784 |
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 | $ 11,163,864 | 10,029,639 |
Equipment | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Equipment | Maximum |  |  |
Rental properties |  |  |
Useful Life | 30 years |  |
Motor vehicles |  |  |
Rental properties |  |  |
Total fixed assets | $ 216,260 | 237,954 |
Useful Life | 5 years |  |
Fences |  |  |
Rental properties |  |  |
Total fixed assets | $ 37,465 | 37,465 |
Fences | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Fences | Maximum |  |  |
Rental properties |  |  |
Useful Life | 15 years |  |
Furniture and fixtures |  |  |
Rental properties |  |  |
Total fixed assets | $ 9,390,021 | 8,127,100 |
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 | $ 582,471 | $ 174,059 |
Smoke alarms | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Smoke alarms | Maximum |  |  |
Rental properties |  |  |
Useful Life | 7 years |  |
Wholly owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | property | 26 |  |
Investment Properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 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 | 2,632 |  |
Number of properties | property | 22 |  |
Residential and mixed-use properties | Partially owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 722 |  |
Number of properties | item | 9 |  |
Residential and mixed-use properties | Partially owned properties | Minimum |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 40.00% |  |
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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