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ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS
12 Months Ended
Dec. 31, 2015
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS  
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

NOTE 6. ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

The Partnership’s residential lease agreements may require tenants to maintain a one‑month advance rental payment and/or a security deposit. Prepaid rents are approximately $2,389,000 and $1,568,000 at December 31, 2015 and 2014, respectively. Security deposits are approximately 2,489,000 and $2,332,000 at December 31, 2015 and 2014, respectively.