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ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS
6 Months Ended
Jun. 30, 2020
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS  
ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

NOTE 6. ADVANCE RENTAL PAYMENTS AND SECURITY DEPOSITS

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The Partnership’s residential lease agreements may require tenants to maintain a one-month advance rental payment and/or a security deposit. At June 30, 2020, amounts received for prepaid rents of approximately $2,138,000 are included in cash and cash equivalents, and security deposits of approximately $2,906,000 are included in prepaid expenses and other assets and are restricted cash.