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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Rental income $ 14,504,117 $ 12,683,517 $ 28,446,762 $ 25,314,962
Laundry and sundry income 126,140 104,274 242,495 216,436
Total Revenues 14,630,257 12,787,791 28,689,257 25,531,398
Expenses        
Administrative 548,645 463,008 1,087,790 988,744
Depreciation and amortization 4,061,940 3,009,698 7,569,031 5,982,753
Management fee 590,230 518,533 1,149,858 1,055,248
Operating 1,184,073 1,032,064 3,084,839 2,746,025
Renting 165,541 94,532 273,441 180,735
Repairs and maintenance 2,315,040 2,053,272 4,129,323 3,508,894
Taxes and insurance 1,893,555 1,646,053 3,762,038 3,356,457
Total Expenses 10,759,024 8,817,160 21,056,320 17,818,856
Income Before Other Income (Expense) 3,871,233 3,970,631 7,632,937 7,712,542
Other Income (Expense)        
Interest income 73 404 237 716
Interest expense (3,256,341) (2,545,553) (6,240,552) (5,066,379)
Income from investments in unconsolidated joint ventures (561,639) 1,058,225 539,261 1,731,062
Total Other Income (Expense) (3,817,907) (1,486,924) (5,701,054) (3,334,601)
Net Income $ 53,326 $ 2,483,707 $ 1,931,883 $ 4,377,941
Income per Unit        
Net Income per Unit (in dollars per unit) $ 0.43 $ 19.97 $ 15.53 $ 35.19
Weighted Average Number of Units Outstanding (in units) 124,386 124,386 124,386 124,392