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Related Party Transactions
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Related Party Transactions

The Partnership has entered into a management agreements with Dahn to operate their mini-storage facility. The management agreement provides for a management fee equal to 6% of gross revenue from operations, which is defined as the entire amount of all receipts from the renting or leasing of storage compartments and sale of locks. The management agreement is renewable annually. Dahn earned management fees from operations equal to $135,829 and $118,142, for the years ended December 31, 2014 and 2013, respectively. Amounts payable to Dahn from continuing operations at December 31, 2014 and December 31, 2013 were $7,089 and $8,759, respectively.

 

Beginning in July 2011, the General Partner, DSI Properties, Inc. performs all tax related work with respect to the Partnership. These services are paid monthly in the amount of $3,572. Tax fees paid to DSI Properties, Inc. for the year ended December 31, 2014 were $42,864.