LEASE INCOME

6 Months Ended

Jun. 30, 2025

Lease Income

LEASE INCOME

9. LEASE INCOME

The Company generally rents its SFRs under lease agreements with a term of one or two years. Future minimum rental revenue under existing leases on our properties at June 30, 2025 in each calendar year through the end of their terms are as follows:

2026	$	1,043,549
2027		598,535
Total Future Receipts	$	1,642,084

Property Management Agreements

The Company has entered into property management agreement with the property managers under which the property managers generally oversee and direct the leasing, management and advertising of the properties in our portfolio, including collecting rents and acting as liaison with the tenants. The Company pays its property managers a monthly property management fee for each property unit and a leasing fee. For the three months ended June 30, 2025 and 2024, property management fees incurred by the property managers were $35,730 and $35,730, respectively. For the six months ended June 30, 2025 and 2024, property management fees incurred by the property managers were $71,370 and $70,740, respectively. For the three months ended June 30, 2025 and 2024, leasing fees incurred by the property managers were $15,645 and $24,005, respectively. For the six months ended June 30, 2025 and 2024, leasing fees incurred by the property managers were $29,490 and $34,265, respectively.