9. LEASE INCOME

The Company generally rents its SFRs under lease agreements with a term of one or two years. Future minimum rental revenue under existing leases on our properties at March 31, 2026 in each calendar year through the end of their terms are as follows:

 SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS

Property Management Agreements

The Company has entered into property management agreement with the property managers under which the property managers generally oversee and direct the leasing, management and advertising of the properties in our portfolio, including collecting rents and acting as liaison with the tenants. The Company pays its property managers a monthly property management fee for each property unit and a leasing fee. For the three months ended March 31, 2026 and 2025, property management fees incurred by the property managers were $35,910 and $35,640, respectively. For the three months ended March 31, 2026 and 2025, leasing fees incurred by the property managers were $16,160 and $13,845, respectively.