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v3.19.2

CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018
Revenues |  |  |  |
Rental income | $ 14,886,423 | $ 14,504,117 | $ 29,654,899 | $ 28,446,762
Laundry and sundry income | 104,980 | 126,140 | 218,649 | 242,495
Total Revenues | 14,991,403 | 14,630,257 | 29,873,548 | 28,689,257
Expenses |  |  |  |
Administrative | 626,180 | 548,645 | 1,238,938 | 1,087,790
Depreciation and amortization | 3,590,240 | 4,061,940 | 7,272,918 | 7,569,031
Management fee | 597,197 | 590,230 | 1,187,806 | 1,149,858
Operating | 1,125,813 | 1,184,073 | 3,009,831 | 3,084,839
Renting | 242,515 | 165,541 | 424,573 | 273,441
Repairs and maintenance | 2,287,313 | 2,315,040 | 4,231,544 | 4,129,323
Taxes and insurance | 1,942,998 | 1,893,555 | 3,977,104 | 3,762,038
Total Expenses | 10,412,256 | 10,759,024 | 21,342,714 | 21,056,320
Income Before Other Income (Expense) | 4,579,147 | 3,871,233 | 8,530,834 | 7,632,937
Other Income (Expense) |  |  |  |
Interest income | 90 | 73 | 269 | 237
Interest expense | (3,133,439) | (3,256,341) | (6,133,728) | (6,240,552)
Income from investments in unconsolidated joint ventures | 513,406 | (561,639) | 1,062,345 | 539,261
Other Income (Loss) | (194,960) |  | (194,960) |
Total Other Income (Expense) | (2,814,903) | (3,817,907) | (5,266,074) | (5,701,054)
Net Income | $ 1,764,244 | $ 53,326 | $ 3,264,760 | $ 1,931,883
Income per Unit |  |  |  |
Net Income per Unit (in dollars per unit) | $ 14.40 | $ 0.43 | $ 26.61 | $ 15.53
Weighted Average Number of Units Outstanding (in units) | 122,483 | 124,386 | 122,710 | 124,386

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