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v3.25.3

RENTAL PROPERTIES (Details) | 9 Months Ended |  |
--- | --- | --- | ---
Sep. 30, 2025 USD ($) property item | Dec. 31, 2024 USD ($) | Sep. 30, 2024 property
Rental properties |  |  |
Total fixed assets | $ 658,149,909 | $ 461,409,491 |
Less: Accumulated depreciation | (197,116,203) | (182,892,842) |
Total fixed assets, net | 461,033,706 | 278,516,649 |
Land, improvements and parking lots |  |  |
Rental properties |  |  |
Total fixed assets | $ 143,787,166 | 101,397,349 |
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 | $ 384,861,835 | 279,272,215 |
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 | $ 37,036,048 | 16,758,245 |
Kitchen cabinets |  |  |
Rental properties |  |  |
Total fixed assets | $ 24,844,899 | 14,187,702 |
Kitchen cabinets | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Kitchen cabinets | Maximum |  |  |
Rental properties |  |  |
Useful Life | 10 years |  |
Carpets |  |  |
Rental properties |  |  |
Total fixed assets | $ 21,786,338 | 14,545,300 |
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 | $ 501,949 | 475,931 |
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 | $ 23,564,427 | 21,911,223 |
Equipment | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Equipment | Maximum |  |  |
Rental properties |  |  |
Useful Life | 30 years |  |
Motor vehicles |  |  |
Rental properties |  |  |
Total fixed assets | $ 236,697 | 236,697 |
Motor vehicles | Maximum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Fences |  |  |
Rental properties |  |  |
Total fixed assets | $ 142,829 | 101,506 |
Fences | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Fences | Maximum |  |  |
Rental properties |  |  |
Useful Life | 15 years |  |
Furniture and fixtures |  |  |
Rental properties |  |  |
Total fixed assets | $ 17,900,932 | 9,047,454 |
Furniture and fixtures | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Furniture and fixtures | Maximum |  |  |
Rental properties |  |  |
Useful Life | 7 years |  |
Smoke alarms |  |  |
Rental properties |  |  |
Total fixed assets | $ 10,920 | $ 0 |
Smoke alarms | Minimum |  |  |
Rental properties |  |  |
Useful Life | 5 years |  |
Smoke alarms | Maximum |  |  |
Rental properties |  |  |
Useful Life | 7 years |  |
Partnership properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | property | 34 |  |
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 | Partnership properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 3,339 |  |
Number of properties | property | 28 |  |
Residential and mixed-use properties | Investment properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 688 |  |
Residential and mixed-use properties | Investment Properties | Investment properties |  |  |
RENTAL PROPERTIES |  |  |
Number of properties | item | 7 |  |
Residential and mixed-use properties | NERA 40% | Investment properties | Minimum |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 40.00% |  |
Residential and mixed-use properties | NERA 50% | Investment properties | Maximum |  |  |
RENTAL PROPERTIES |  |  |
Ownership interest (as a percent) | 50.00% |  |
Condominium | Partnership properties |  |  |
RENTAL PROPERTIES |  |  |
Number of units | item | 19 |  |
Number of properties | property | 1 |  |

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