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v3.19.3

CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
Revenues |  |  |  |
Rental income | $ 15,038,675 | $ 14,425,908 | $ 44,693,574 | $ 42,872,671
Laundry and sundry income | 117,226 | 119,625 | 335,875 | 362,120
Total Revenues | 15,155,901 | 14,545,533 | 45,029,449 | 43,234,791
Expenses |  |  |  |
Administrative | 622,459 | 526,100 | 1,861,397 | 1,613,891
Depreciation and amortization | 3,627,142 | 3,980,177 | 10,900,060 | 11,549,208
Management fee | 599,864 | 590,908 | 1,787,670 | 1,740,766
Operating | 1,111,613 | 1,101,251 | 4,121,444 | 4,186,091
Renting | 348,896 | 312,579 | 773,470 | 586,019
Repairs and maintenance | 2,654,769 | 2,951,750 | 6,886,313 | 7,081,073
Taxes and insurance | 2,014,141 | 1,866,463 | 5,991,245 | 5,628,501
Total Expenses | 10,978,884 | 11,329,228 | 32,321,599 | 32,385,549
Income Before Other Income (Expense) | 4,177,017 | 3,216,305 | 12,707,850 | 10,849,242
Other Income (Expense) |  |  |  |
Interest income | 66 | 64 | 335 | 301
Interest expense | (3,011,347) | (3,090,471) | (9,145,075) | (9,331,023)
Income from investments in unconsolidated joint ventures | 224,993 | 534,431 | 1,287,339 | 1,073,692
Other Income (Loss) | (6,750) |  | (201,710) |
Total Other Income (Expense) | (2,793,038) | (2,555,976) | (8,059,111) | (8,257,030)
Net Income | $ 1,383,979 | $ 660,329 | $ 4,648,739 | $ 2,592,212
Income per Unit |  |  |  |
Net Income per Unit (in dollars per unit) | $ 11.32 | $ 5.31 | $ 37.93 | $ 20.84
Weighted Average Number of Units Outstanding (in units) | 122,298 | 124,386 | 122,572 | 124,386

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