XML 46 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
RELATED PARTY TRANSACTIONS (Details)
3 Months Ended 6 Months Ended 18 Months Ended
Sep. 30, 2018
USD ($)
Jun. 30, 2017
USD ($)
Jun. 30, 2018
USD ($)
item
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Jun. 30, 2017
USD ($)
Sep. 29, 2017
USD ($)
Jul. 06, 2017
USD ($)
RELATED PARTY TRANSACTIONS                
Management fee as percentage of gross receipts rental revenue     4.00%          
Management fee as a percentage of gross receipts rental revenue of Linewt, LLC     3.00%          
Management fees of related party     $ 1,150,000 $ 1,055,000        
Management fee $ 590,230 $ 518,533 1,149,858 1,055,248        
Repairs and maintenance 2,315,040 2,053,272 4,129,323 3,508,894        
Administrative expense 548,645 463,008 $ 1,087,790 988,744        
Number of limited partnerships and limited liability companies in which the entity has invested | item     8          
Interest expense $ 3,256,341 $ 2,545,553 $ 6,240,552 5,066,379        
Woodland Park Apartments LLC Newton Massachusetts                
RELATED PARTY TRANSACTIONS                
Loan amount             $ 22,250,000 $ 16,000,000
Interest rate (as a percent)             3.79% 4.75%
Dexter Park                
RELATED PARTY TRANSACTIONS                
Management fee as percentage of gross receipts rental revenue     2.00%          
President of Management Company                
RELATED PARTY TRANSACTIONS                
Quarterly fee for asset management consulting services       37,500 $ 37,500      
Harold Brown | Minimum                
RELATED PARTY TRANSACTIONS                
Ownership interest (as a percent)     43.20%          
Harold Brown | Maximum                
RELATED PARTY TRANSACTIONS                
Ownership interest (as a percent)     56.00%          
General Partner or Management Company [Member]                
RELATED PARTY TRANSACTIONS                
Repairs and maintenance     $ 188,000          
Administrative expense     162,000          
Commercial brokerage fees     34,000          
Expenses for construction, architectural services and supervision of capital projects     282,000          
Costs related to professional services     666,000 363,000        
Management Company [Member]                
RELATED PARTY TRANSACTIONS                
Reimbursement to related party for payroll transfers     $ 1,680,000 1,671,000        
Employer contributions in 401K plan       0 0      
Number of accounting staff of related party providing bookkeeping and accounting functions | item     14          
Fees for accounting and bookkeeping services       $ 62,500 $ 62,500      
Number of employees having ownership interest in the investment properties | item     6          
Fees for accounting and bookkeeping services per year           $ 125,000    
Partially owned properties                
RELATED PARTY TRANSACTIONS                
Management fee as percentage of gross receipts rental revenue     4.00%          
Management fee     $ 330,000          
Repairs and maintenance     32,000          
Administrative expense     34,000          
Construction, architectural services and supervision of capital projects     146,000          
Commercial brokerage fees     178,000          
Amount paid to related party     $ 720,000          
Residential and mixed-use properties | Partially owned properties | Minimum                
RELATED PARTY TRANSACTIONS                
Ownership interest (as a percent)     40.00%          
Residential and mixed-use properties | Partially owned properties | Maximum                
RELATED PARTY TRANSACTIONS                
Ownership interest (as a percent)     50.00%