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Related Party Transactions
12 Months Ended
Dec. 31, 2013
Notes to Financial Statements  
Related Party Transactions

TThe Partnership has entered into management agreements with Dahn to operate its mini-storage facilities. The management agreements provide for a management fee equal to 5% 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 for the years ended December 31, 2013 and 2012 equal to $141,694 and $127,240, respectively. Amounts payable to Dahn at December 31, 2013 and 2012, were $9,486 and $8,362, 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 $4,949. Tax fees paid to DSI Properties, Inc. for the year ended December 31, 2013 were $59,388