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Related-Party Transactions
3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]  
Related-Party Transactions Related-Party Transactions
Asset management fees to our advisor for the three months ended March 31, 2021 and 2020 were $886,307 and $449,653, respectively. Asset management fees waived by our advisor for the three months ended March 31, 2021 and 2020 were $27,128 and $127,440, respectively.

Acquisition expenses reimbursed to our advisor for the three months ended March 31, 2021 and 2020 were not significant, as we have generally incurred and paid such expenses directly.

Reimbursable company operating expenses to our advisor or its affiliates for the three months ended March 31, 2021 and 2020 were $257,044 and $236,509, respectively.

Property management fees to our property manager for the three months ended March 31, 2021 and 2020 were $112,739 and $54,030, respectively. Property management fees to our property manager are classified as property operations expense on the condensed consolidated statements of operations.