How did NEN's rental income surge impact Q4 2024 profits?

New England Realty Associates Limited Partnership (NEN) experienced a significant surge in rental income, which had a positive impact on its Q4 2024 profits.

1. **Rental Income Surge**: NEN's rental income for the quarter ending Q3 2024, was $20,021,133, an increase from $18,804,320 in the same quarter of the previous year. This increase was attributed to higher rental rates and increased occupancy.

2. **Impact on Q4 2024 Profits**:
- NEN reported a net income of $4.22 million for Q4 2024, reflecting a significant increase in profitability compared to the previous year.
- Operating expenses for the quarter were $13,738,359, which was a decrease from $14,062,381 in the previous year. This decrease was due to reduced depreciation and amortization expenses.
- Interest income for the quarter was $1,123,084, slightly up from $1,083,423 in the previous year, due to investments in Treasury Bills.
- Interest expense decreased to $3,831,009 from $3,956,181, reflecting lower borrowing costs.
3. **Overall Financial Health**: The company's investments in joint ventures reported an income of $146,647 for the quarter. Cash provided by operating activities was $19,965,878 for the nine months ended September 30, 2024. These financial indicators suggest that NEN's rental income surge had a positive impact on its Q4 2024 profits and overall financial health.