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MORTGAGE NOTES PAYABLE (Line of Credit) (Details) |  |  |  |  | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Jan. 22, 2020 USD ($) | Dec. 20, 2019 USD ($) | Sep. 30, 2015 | Jul. 31, 2014 USD ($) item | Aug. 31, 2014 | Mar. 31, 2020 USD ($) | Mar. 31, 2019 USD ($) | Dec. 31, 2005 | Dec. 19, 2019 USD ($) | May 31, 2019 USD ($) | Mar. 07, 2005 item
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  | $ 3,450,325 | $ 3,000,289 |  |  |  |
Line Of Credit Facility Unused Capacity Commitment Fee |  |  |  |  |  | 3,000 |  |  |  |  |
Hamilton Essex 81 |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Number of properties in which borrowing amount collateralized | item |  |  |  |  |  |  |  |  |  |  | 1
Residences at Captain Parkers LLC Residential Apartments Lexington, Massachusetts |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Loan amount |  |  |  |  |  |  |  |  |  | $ 20,750,000 |
Minimum |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Tangible net worth |  |  |  |  |  | $ 150,000,000 |  |  |  |  |
Ratio of net operating income to total indebtedness |  |  |  |  |  | 9.50% |  |  |  |  |
Debt service coverage ratio |  |  |  |  |  | 1.6 |  |  |  |  |
Maximum |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Loan amount |  | $ 35,000,000 |  |  |  |  |  |  |  |  |
Leverage ratio |  |  |  |  |  | 65.00% |  |  |  |  |
Aggregate increase in indebtedness |  |  |  |  |  | $ 15,000,000 |  |  |  |  |
Mortgages payable | Hamilton Essex 81 |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Term of debt |  |  | 10 years |  |  |  |  |  |  |  |
Mortgages payable | Hamilton on Main Apartments, LLC |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Term of debt |  |  |  |  | 10 years |  |  | 10 years |  |  |
Mortgages payable | LIBOR | Hamilton Essex 81 |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) |  |  | 2.18% |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Maximum borrowings |  |  |  | $ 25,000,000 |  |  |  |  |  |  |
Term of debt |  |  |  | 3 years |  |  |  |  |  |  |
Loan amount |  |  |  |  |  |  |  |  | $ 20,000,000 |  |
Payment on line of credit | $ 1,000,000 | $ 2,000,000 |  |  |  |  |  |  |  |  |
Amount of refinancing costs |  |  |  |  |  | 128,000 |  |  |  |  |
Credit line balance |  |  |  |  |  | $ 17,000,000 |  |  |  |  |
Number of properties in which borrowing amount collateralized | item |  |  |  | 23 |  |  |  |  |  |  |
Line of Credit | Federal Funds Rate |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Basis of effective interest rate used in calculation of Base Rate (as a percent) |  |  |  | 0.50% |  |  |  |  |  |  |
Line of Credit | LIBOR |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Basis of effective interest rate used in calculation of Base Rate (as a percent) |  |  |  | 1.00% |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) |  |  |  | 2.50% |  |  |  |  |  |  |
Line of Credit | Minimum |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Pledged interests of the Partnership's ownership interest (as a percent) |  |  |  | 49.00% |  |  |  |  |  |  |
Commitment fee for unused amount (as a percent) |  |  |  | 0.15% |  |  |  |  |  |  |
Line of Credit | Maximum |  |  |  |  |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |  |  |  |  |
Pledged interests of the Partnership's ownership interest (as a percent) |  |  |  | 100.00% |  |  |  |  |  |  |
Commitment fee for unused amount (as a percent) |  |  |  | 0.20% |  |  |  |  |  |  |

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- Definition Represents the ratio of consolidated adjusted earnings before interest, taxes, depreciation and amortization to interest expense, which is necessary to be maintained under the terms of the senior credit facilities' covenants. + References No definition available. + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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