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Related Party Transactions
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Related Party Transactions

 

The Partnership has entered into management agreements with Dahn to operate its mini-storage facilities. Each agreement provides for a management fee equal to 5% of gross revenue from operations, defined as the entire amount of all receipts from the renting or leasing of storage compartments and sale of locks. The management agreements are renewable annually. During 2011 and 2010 the Partnership paid Dahn management fees of $93,088 and $95,767, respectively. Amounts payable to Dahn at December 31, 2011 and 2010, were $7,829 and $7,315, 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 $3,826. Tax fees paid to DSI Properties, Inc. for the year ended December 31, 2011 were $22,956.