Leases

The Company conducts most of its operations from leased facilities, except for its owned corporate office building. The Company's leases typically have a lease term of three to five years and contain lessee renewal options. A majority of the leases provide that the lessee pays property taxes, insurance and common area maintenance costs. It is expected that in the normal course of business, expiring leases will be renewed at the Company's option or replaced by other leases or acquisitions of other properties. All of the Company’s leases are operating leases.

The future minimum lease payments under noncancelable operating leases as of March 31, 2019, are as follows:



2020	$	24,470,638
2021	15,931,144
2022	8,287,772
2023	2,831,039
2024	1,177,697
Thereafter	56,682
Total future minimum lease payments	$	52,754,972

Rental expense for cancelable and noncancelable operating leases for the years ended March 31, 2019, 2018, and 2017, was approximately $26.9 million, $25.4 million, and $24.4 million, respectively.