Related Party Transactions

12 Months Ended

Dec. 31, 2014

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, 2014 and 2013 equal to $164,261 and $141,694, respectively. Amounts payable to Dahn at December 31, 2014 and 2013, were $11,589 and $9,486, 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, 2014 were $59,388