Notes to the Consolidated Financial Statements
Dollar amounts are in thousands of Canadian dollars (except share and per share amounts)
7. Property and Equipment
As at           December 31, 2013                  December 31, 2012
          Cost
Accumulated 
Depreciation            cost
accumulated 
Depreciation
land $270 $‑ $270 $‑
Building 1,824 106 1,763 54
Heavy equipment 198 71 622 220
Vehicles 1,191 308 1,076 273
Furniture, fixtures and equipment 3,588 2,451 3,181 2,052
leaseholds 428 36 261 ‑
7,499 2,972 7,173 2,599
Less: accumulated depreciation (2,972) (2,599)
$4,527 $4,574
Land and building represents the Company’s ownership of a 50% interest in the land and building that its head office occupies.  Under IFRS, 
owner‑occupied property is required to be accounted for as property and equipment and not investment property. Property with a fair 
value of $4.2 million (December 31, 2012 ‑ $4.2 million) is pledged as collateral against the Company’s mortgages payable.
For the years ended December 31, 2013 2012
Balance, beginning of year $4,574 $4,457
Disposals (420) (107)
Capital expenditures 963 764
Depreciation (590) (540)
Balance, end of year $4,527 $4,574
8. Rent and Other Receivables
As at December 31, 
2013
December 31, 
2012
r ent receivable $879 $926
insurance receivable 337 254
other receivables 1,535 2,587
$2,751 $3,767
Included in other receivables are laundry revenue, commission revenues and other non‑rental income.  The majority of these receivables 
are less than 60 days old. 
The Company’s policy is to write‑off tenant receivables when the tenant vacates the unit and any subsequent receipt of funds is netted 
against bad debts.  The Company’s bad debt expense experience has historically been less than 0.4% of revenues.  As a result of the low 
bad debt experience, no allowance for doubtful accounts is recorded in the accounts. 
9.    Inventory
Inventory relates to manufactured homes for which sales have not closed at year‑end, as well as four stock homes (2012 ‑ eight stock 
homes) and related expenses.  As at December 31, 2013, no amount of the inventory is pledged as collateral related to short‑term or 
long‑term financing.
82 Killam ProPerties inc | 2013