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v3.24.1.u1

RELATED PARTY TRANSACTIONS (Details) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 USD ($) item | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($)
RELATED PARTY TRANSACTIONS |  |  |
Management fee | $ 788,607 | $ 697,764 |
Repairs and maintenance | 2,847,957 | 2,763,136 |
Administrative expense | 762,019 | $ 737,101 |
Employer contributions in 401K plan | $ 16,000 |  |
Number of limited partnerships and limited liability companies in which the entity has invested | item | 7 |  |
Brown Family | Minimum |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 47.60% |  |
Brown Family | Maximum |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 59.00% |  |
Brown Family | Related party | Minimum |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 47.60% |  |
Brown Family | Related party | Maximum |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 59.00% |  |
NERA 40% |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 40.00% | 40.00% |
NERA 50% |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Ownership interest (as a percent) | 50.00% | 50.00% |
Majority of Partnership Properties | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Management fee as percentage of gross receipts rental revenue | 4.00% |  |
Management fee (as a percent) | 4.00% |  |
Linewt | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Management fee as percentage of gross receipts rental revenue | 3.00% |  |
General Partner or Management Company | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Costs related to professional services | $ 206,000 | $ 493,000 |
Repairs and maintenance | 22,000 |  |
Administrative expense | 79,000 |  |
Expenses for construction, architectural services and supervision of capital projects | 105,000 |  |
Hamilton Company/Management Company | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Management fee | 789,000 | 698,000 |
Costs related to professional services | 31,250 |  | $ 125,000
Amount received for management fees | 213,000 |  |
Payroll and related expenses | 1,100,000 | 1,114,000 |
Employer contributions in 401K plan | $ 16,000 | 16,000 |
Number of accounting staff providing bookkeeping and accounting functions | item | 14 |  |
Hamilton Company/Management Company | Management fee | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Amount received for management fees | $ 188,000 |  |
Hamilton Company/Management Company | Construction, architectural services and supervision of capital projects | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Amount received for management fees | 18,000 |  |
Hamilton Company/Management Company | Repairs and maintenance | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Amount received for management fees | 2,000 |  |
Hamilton Company/Management Company | Legal expense | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Amount received for management fees | $ 5,000 |  |
Dexter Park | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Management fee (as a percent) | 2.00% |  |
Sally Michael | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Legal fees | $ 46,000 | $ 37,000 |
Current and previous management company employees | Related party |  |  |
RELATED PARTY TRANSACTIONS |  |  |
Number of employees having ownership interest in the investment properties | item | 5 |  |

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