RENTAL PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2015

RENTAL PROPERTIES

Schedule of rental properties

	September 30, 2015		December 31, 2014		Useful Life
Land, improvements and parking lots	$	51,713,843	$	44,541,471	15	-	40	years
Buildings and improvements		173,749,025		153,059,430	15	-	40	years
Kitchen cabinets		8,983,374		6,865,348	5	-	10	years
Carpets		8,437,321		6,341,227	5	-	10	years
Air conditioning		772,080		705,116	5	-	10	years
Laundry equipment		236,283		147,721	5	-	7	years
Elevators		1,139,296		1,139,296	20	-	40	years
Swimming pools		444,629		444,629	10	-	30	years
Equipment		6,265,714		5,491,992	5	-	7	years
Motor vehicles		130,859		130,563			5	years
Fences		38,635		24,670	5	-	15	years
Furniture and fixtures		8,705,137		5,910,046	5	-	7	years
Smoke alarms		220,437		220,437	5	-	7	years
Total fixed assets		260,836,633		225,021,946
Less: Accumulated depreciation		(83,334,950)		(75,905,862)
	$	177,501,683	$	149,116,084