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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS - USD ($)
 3 Months Ended 6 Months Ended
Jan. 31, 2016
Jan. 31, 2015
Jan. 31, 2016
Jan. 31, 2015
Revenues        
Rental income (Notes 4 and 8) $ 4,315,940 $ 4,412,233 $ 8,593,334 $ 8,752,590
Recovery of real estate taxes 10,625
Revenue to temporarily vacate lease (Note 13) $ 291,667 $ 291,667 $ 583,334 583,334
Total revenues 4,607,607 4,703,900 9,176,668 9,346,549
Expenses        
Real estate operating expenses 2,571,056 2,470,736 4,979,655 4,794,934
Administrative and general expenses 1,264,471 1,139,437 2,320,453 2,122,730
Depreciation and amortization (Note 6) 407,400 443,822 814,150 884,807
Total expenses 4,242,927 4,053,995 8,114,258 7,802,471
Income from operations before investment income, interest expense and income taxes 364,680 649,905 1,062,410 1,544,078
Investment income and interest expense:        
Investment income (loss) (Note 3) (80) 26,353 7,142 32,544
Interest expense (Notes 5, 7 and 10) (58,874) (92,345) (123,451) (201,037)
Interest Income (Expense), Net (58,954) (65,992) (116,309) (168,493)
Income from operations before income taxes 305,726 583,913 946,101 1,375,585
Income taxes provided 83,000 255,000 322,000 608,000
Net income 222,726 328,913 624,101 767,585
Retained earnings, beginning of period 42,353,321 40,181,936 41,951,946 39,743,264
Retained earnings, end of period $ 42,576,047 $ 40,510,849 $ 42,576,047 $ 40,510,849
Income per common share (Note 2) $ 0.11 $ 0.16 $ 0.31 $ 0.38
Dividends per share
Average common shares outstanding 2,015,780 2,015,780 2,015,780 2,015,780