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v3.10.0.1

CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
Revenues |  |  |  |
Rental income | $ 14,425,908 | $ 13,321,770 | $ 42,872,671 | $ 38,636,732
Laundry and sundry income | 119,625 | 100,035 | 362,120 | 316,471
Total Revenues | 14,545,533 | 13,421,805 | 43,234,791 | 38,953,203
Expenses |  |  |  |
Administrative | 526,100 | 525,125 | 1,613,891 | 1,513,869
Depreciation and amortization | 3,980,177 | 3,664,997 | 11,549,208 | 9,647,751
Management fee | 590,908 | 544,399 | 1,740,766 | 1,599,647
Operating | 1,101,251 | 1,051,910 | 4,186,091 | 3,797,935
Renting | 312,579 | 301,423 | 586,019 | 482,157
Repairs and maintenance | 2,951,750 | 2,678,780 | 7,081,073 | 6,187,673
Taxes and insurance | 1,866,463 | 1,727,218 | 5,628,501 | 5,083,674
Total Expenses | 11,329,228 | 10,493,852 | 32,385,549 | 28,312,706
Income Before Other Income (Expense) | 3,216,305 | 2,927,953 | 10,849,242 | 10,640,497
Other Income (Expense) |  |  |  |
Interest income | 64 | 416 | 301 | 1,132
Interest expense | (3,090,471) | (3,046,818) | (9,331,023) | (8,113,197)
Income from investments in unconsolidated joint ventures | 534,431 | 990,169 | 1,073,692 | 2,721,231
Total Other Income (Expense) | (2,555,976) | (2,056,233) | (8,257,030) | (5,390,834)
Net Income | $ 660,329 | $ 871,720 | $ 2,592,212 | $ 5,249,663
Income per Unit |  |  |  |
Net Income per Unit (in dollars per unit) | $ 5.31 | $ 7.01 | $ 20.84 | $ 42.20
Weighted Average Number of Units Outstanding (in units) | 124,386 | 124,387 | 124,386 | 124,394

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