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v3.24.1.u1

RENTAL PROPERTIES (Details) | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2024 USD ($) ft² property item | Dec. 31, 2023 USD ($) | Mar. 31, 2023 property
Rental properties |  |  |
Total fixed assets | $ 445,004,133 | $ 440,496,897 |
Less: Accumulated depreciation | (174,747,433) | (170,691,951) |
Total fixed assets, net | 270,256,700 | 269,804,946 |
Land, improvements and parking lots |  |  |
Rental properties |  |  |
Total fixed assets | $ 99,249,928 | 99,162,143 |
Land, improvements and parking lots | Minimum |  |  |
Rental properties |  |  |
Useful Life | 15 years |  |
Land, improvements and parking lots | Maximum |  |  |
Rental properties |  |  |
Useful Life | 40 years |  |
Buildings and improvements |  |  |
Rental properties |  |  |
Total fixed assets | $ 278,027,649 | 277,986,334 |
Buildings and improvements | Minimum |  |  |
Rental properties |  |  |
Useful Life | 15 years |  |
Buildings and improvements | Maximum |  |  |
Rental properties |  |  |
Useful Life | 40 years |  |
Construction in Progress |  |  |
Rental properties |  |  |
Total fixed assets | $ 3,361,078 |  |
Kitchen cabinets |  |  |
Rental properties |  |  |
Total fixed assets | $ 16,356,947 | 16,137,828 |
Kitchen cabinets | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Kitchen cabinets | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Carpets |  |  |
Rental properties |  |  |
Total fixed assets | $ 13,429,753 | 13,127,838 |
Carpets | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Carpets | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Air conditioning |  |  |
Rental properties |  |  |
Total fixed assets | $ 500,000 | 500,000 |
Air conditioning | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Air conditioning | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Laundry equipment |  |  |
Rental properties |  |  |
Total fixed assets | $ 568,716 | 568,716 |
Laundry equipment | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Laundry equipment | Maximum |  |  |
Rental properties |  |  |
Useful Life | 7 years |  |
Elevators |  |  |
Rental properties |  |  |
Total fixed assets | $ 1,885,265 | 1,885,265 |
Elevators | Minimum |  |  |
Rental properties |  |  |
Useful Life | 20 years |  |
Elevators | Maximum |  |  |
Rental properties |  |  |
Useful Life | 40 years |  |
Swimming pools |  |  |
Rental properties |  |  |
Total fixed assets | $ 1,090,604 | 1,090,604 |
Swimming pools | Minimum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Swimming pools | Maximum |  |  |
Rental properties |  |  |
Useful Life | 30 years |  |
Equipment |  |  |
Rental properties |  |  |
Total fixed assets | $ 21,599,934 | 21,348,556 |
Equipment | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Equipment | Maximum |  |  |
Rental properties |  |  |
Useful Life | 30 years |  |
Motor vehicles |  |  |
Rental properties |  |  |
Total fixed assets | $ 232,954 | 232,954 |
Motor vehicles | Maximum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Fences |  |  |
Rental properties |  |  |
Total fixed assets | $ 91,620 | 91,620 |
Fences | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Fences | Maximum |  |  |
Rental properties |  |  |
Useful Life | 15 years |  |
Furniture and fixtures |  |  |
Rental properties |  |  |
Total fixed assets | $ 8,609,685 | $ 8,365,039 |
Furniture and fixtures | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Furniture and fixtures | Maximum |  |  |
Rental properties |  |  |
Useful Life | 7 years |  |
Wholly owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | property | 31 |  |
Investment Properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | property | 690 |  | 690
NERA 40% |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 40.00% |  | 40.00%
NERA 50% |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 50.00% |  | 50.00%
Residential and mixed-use properties | Wholly owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 2,943 |  |
Number of properties | property | 27 |  |
Residential and mixed-use properties | Partially owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 688 |  |
Rental properties |  |  |
Area of property (in square feet) | ft² | 12,500 |  |
Residential and mixed-use properties | Investment Properties | Partially owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | item | 7 |  |
Residential and mixed-use properties | NERA 40% | Partially owned properties | Minimum |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 40.00% |  |
Residential and mixed-use properties | NERA 50% | Partially owned properties | Maximum |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 50.00% |  |
Condominium | Wholly owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 19 |  |
Number of properties | property | 1 |  |
Commercial |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | item | 2 |  |
Commercial | Wholly owned properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | property | 4 |  |
Rental properties |  |  |
Area of property (in square feet) | ft² | 130,000 |  |
Commercial | Investment Properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | property | 3 |  | 3

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