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ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS
12 Months Ended
Dec. 31, 2023
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS  
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

NOTE 6. ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

The Partnership’s residential lease agreements may require tenants to maintain a one-month advance rental payment and/or a security deposit. At December 31, 2023 and 2022 respectively, amounts received for prepaid rents of approximately $3,078,000 and $2,618,000 are included in cash and cash equivalents, and security deposits of approximately $3,601,000 and $3,406,000 are included in prepaid expenses and other assets and are restricted cash.