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PREPAID EXPENSES and OTHER ASSETS | 3 Months Ended
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Mar. 31, 2024
PREPAID EXPENSES and OTHER ASSETS |
PREPAID EXPENSES and OTHER ASSETS | NOTE 4. PREPAID EXPENSES and OTHER ASSETS Approximately $3,582,000, and $3,601,000 of security deposits are included in prepaid expenses and other assets at March 31, 2024 and December 31, 2023, respectively. The security deposits and escrow accounts are restricted cash. Also, included in prepaid expenses and other assets at March 31, 2024 and December 31, 2023 is approximately $1,903,000 and $1,784,000, respectively, held in escrow to fund future capital improvements. Intangible assets on the acquisition of rental properties are included in prepaid expenses and other assets. Intangible assets are approximately $530,000 and $677,000 net of accumulated amortization of approximately $1,019,000 and $872,000 at March 31, 2024, and at December 31, 2023, respectively. Financing fees in association with the line of credit of approximately $36,000 and $52,000 are net of accumulated amortization of approximately $146,000 and $130,000 at March 31, 2024 and December 31, 2023 respectively.

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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