text: **(E) Revenue Recognition**
  
  *(i) Rental income*
  Revenue from rental properties is recognized when a tenant commences occupancy of a rental unit or site and rent is due. Rental income 
  from investment properties is recognized on a straight line basis over the lease term. The Company has not transferred substantially all of 
  the benefits and risks of ownership of its rental properties, and therefore accounts for leases with its tenants as operating leases. Incentives 
  for lessees to enter into lease agreements are spread evenly over the lease term as a reduction of rental income, even if the payments are 
  not made on such a basis. The lease term is the non‑cancelable period of the lease. 
  
  *(ii) Service charges and expenses recoverable from tenants*
  Income arising from expenses recovered from tenants is recognized gross of the related expenses in the period in which the expense can be 
  contractually recovered. revenue related to laundry and parking are included gross of the related costs. 
  
  *(iii) Manufactured home sales*
  Where revenue is obtained from the sale of manufactured homes, it is recognized when the significant risks and rewards have been 
  transferred to the buyer. this will normally take place on the closing date of the home sale. such sales are considered sales of goods, and 
  not sales of real estate, as the company does not manufacture these homes itself. 