The Company’s total revenues decreased approximately $4,864,000 or about 40%, for the three months ended March 31, 2020 compared to the same period in the prior year. Total revenues for the Rental Pool decreased about $1,641,000, or about 45%.
Total costs and expenses decreased approximately $2,545,000, or about 26%, for the Company, and approximately $464,000 or about 47%, for the Rental Pool Operation.
The Company experienced a net loss for the quarter in the amount of approximately $83,000 compared to the net income of the prior comparable quarter of approximately $2,216,000. Amounts available for distribution for the Rental Pool Operation decreased approximately $657,000 from the comparable period last year.