Clipper Realty(CLPR) - 2023 Q4 - Earnings Call Transcript

For the fourth quarter, residential revenue increased to $25.1 million by $2.1 million or a $1 million revenue increase, excluding the impact of Pacific House. This 4% increase was primarily due to higher residential rental rates for all properties from continued strong leasing previously discussed. Bad debt expense was substantially the same as last year, reflecting high and stabilized collections. A $300,000 decline in commercial rental income was caused by a couple of leases at the Aspen property that ar ...