PREPAID EXPENSES and OTHER ASSETS	12 Months Ended
Dec. 31, 2024
PREPAID EXPENSES and OTHER ASSETS
PREPAID EXPENSES and OTHER ASSETS	NOTE 4. PREPAID EXPENSES and OTHER ASSETS Approximately $3,463,000 and $3,601,000 of security deposits are included in prepaid expenses and other assets at December 31, 2024 and 2023, respectively. The security deposits and escrow accounts are restricted cash. Included in prepaid expenses and other assets at December 31, 2024 and 2023, respectively, is approximately $2,260,000 and $1,784,000, held in escrow to fund future capital improvements. Intangible assets on the acquisition of rental properties are included in prepaid expenses and other assets. Intangible assets are approximately $334,000 and $677,000 net of accumulated amortization of approximately $1,215,000 and $872,000 at December 31, 2024 and 2023 respectively. Financing fees in association with the refinancing and the line of credit of approximately $217,000 and $52,000 are net of accumulated amortization of approximately $60,000, and $130,000 at December 31, 2024 and 2023 respectively.

PREPAID EXPENSES and OTHER ASSETS

12 Months Ended

Dec. 31, 2024

NOTE 4. PREPAID EXPENSES and OTHER ASSETS

Approximately $3,463,000 and $3,601,000 of security deposits are included in prepaid expenses and other assets at December 31, 2024 and 2023, respectively. The security deposits and escrow accounts are restricted cash.

Included in prepaid expenses and other assets at December 31, 2024 and 2023, respectively, is approximately $2,260,000 and $1,784,000, held in escrow to fund future capital improvements.

Intangible assets on the acquisition of rental properties are included in prepaid expenses and other assets. Intangible assets are approximately $334,000 and $677,000 net of accumulated amortization of approximately $1,215,000 and $872,000 at December 31, 2024 and 2023 respectively.

Financing fees in association with the refinancing and the line of credit of approximately $217,000 and $52,000 are net of accumulated amortization of approximately $60,000, and $130,000 at December 31, 2024 and 2023 respectively.