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v3.23.2

Revenues | 6 Months Ended
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Jun. 30, 2023
Revenues [Abstract] |
Revenues | Note 8. Revenues Rental revenues for the three and six months ended June 30, 2023 and 2022, respectively, are comprised of the following:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Base rents |  | $ | 5,951,000 |  |  | $ | 6,197,000 |  |  | $ | 11,786,000 |  |  | $ | 12,482,000 |
Expense recoveries - variable lease revenue |  |  | 1,654,000 |  |  |  | 2,258,000 |  |  |  | 3,915,000 |  |  |  | 4,255,000 |
Percentage rent - variable lease revenue |  |  | 117,000 |  |  |  | 143,000 |  |  |  | 285,000 |  |  |  | 266,000 |
Straight-line rents |  |  | 271,000 |  |  |  | (35,000 | ) |  |  | 461,000 |  |  |  | (45,000 | )
Above (below) market lease amortization, net |  |  | 105,000 |  |  |  | 161,000 |  |  |  | 128,000 |  |  |  | 322,000 |
|  |  | 8,098,000 |  |  |  | 8,724,000 |  |  |  | 16,575,000 |  |  |  | 17,280,000 |
Credit adjustments on operating lease receivables |  |  | 155,000 |  |  |  | (431,000 | ) |  |  | 319,000 |  |  |  | (472,000 | )
Total rental revenues |  | $ | 8,253,000 |  |  | $ | 8,293,000 |  |  | $ | 16,894,000 |  |  | $ | 16,808,000 |
The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. In the event that collectability with respect to any tenant changes, the Company recognizes an adjustment to rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue.

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- Definition Rental revenue components. + References No definition available. + Details
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