text: Killam’s same store apartment portfolio continued to generate quarter‑over‑quarter net revenue growth, as rental rates increased 1.3% 
  from Q4 2012, offsetting higher vacancy and increasing net revenue 1.1% or $0.3 million quarter‑over‑quarter. As shown in the same 
  store summary above, higher utility and fuel costs, up 16.6%, were the main driver of the 6.2% increase in total operating expenses. 
  Increased water, electricity and natural gas costs in Nova Scotia (up 23% from Q4 2012) and New Brunswick (up 85% from Q4 2012) 
  drove the increase in expense. The increase in natural gas costs was approximately $0.2 million more than Q4 2012 for the Nova Scotia 
  properties due to a colder fall (17% colder than Q4 2013), increasing consumption by approximately the same percentage. As well, both 
  october and november natural gas pricing was higher than the same months of 2012. 
  
  The MHC same store portfolio continued to generate strong revenue growth, up 4.9% from Q4 2012, driven by increased rental rates and 
  stable occupancy year‑over‑year. As well, overall operating expenses decreased by 5.4% for the quarter due to lower costs associated 
  with water and sewer repairs due to recent capital upgrades, and timing of both utility and property tax recoveries for the last quarter of 
  the year. 