UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

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FORM 10-Q

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[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2002

OR

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

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Commission File Number 0-14695

NTS-PROPERTIES VI,
A Maryland Limited Partneship

Incorporated pursuant to the Laws of the State of Maryland

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Internal Revenue Service - Employer Identification No. 61-1066060

10172 Linn Station Road, Louisville, Kentucky 40223

(502) 426-4800

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Indicate by check mark whether the registrant  (1) has filed all reports  required to be filed by Section 13 or 15(d) of the Securities
Exchange  Act of 1934  during the  preceding  12 months (or for such  shorter  period  that the  registrant  was  required to file such
reports) and (2) has been subject to such filing requirements for the past 90 days.               Yes |X|      No  |   |

State the aggregate market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the average bid and
asked price of such common equity, as of a specified date within the past 60 days: No aggregate
market value can be determined because no established market exists for the limited partnership
Interests.

TABLE OF CONTENTS

PART I

|        |  |                                                            |  |      
|------- |  | ---------------------------------------------------------- |  | -----
|        |  |                                                            |  | Pages
|       
|Item 1. |  | Financial Statements                                      
|       
|        |  | Consolidated Balance Sheets as of March 31, 2002           |  |      
|        |  | and December 31, 2001                                      |  | 3    
|       
|        |  | Statement of Partners' Equity as of March 31, 2002         |  | 3    
|       
|        |  | Consolidated Statements of Operations for the Three Months |  |      
|        |  | Ended March 31, 2002 and 2001                              |  | 4    
|       
|        |  | Consolidated Statements of Cash Flows for the Three Months |  |      
|        |  | Ended March 31, 2002 and 2001                              |  | 5    
|       
|        |  | Notes to Consolidated Financial Statements                 |  | 6-13 
|       
|Item 2. |  | Management's Discussion and Analysis of Financial          |  |      
|        |  | Condition and Results of Operations                        |  | 14-20
|       
|Item 3. |  | Quantitative and Qualitative Disclosures About Market Risk |  | 20   
|       

PART II

|           |  |                                                     |  |   
|---------- |  | --------------------------------------------------- |  | --
|          
|Item 1.    |  | Legal Proceedings                                   |  | 21
|          
|Item 2.    |  | Changes in Securities                               |  | 21
|          
|Item 3.    |  | Defaults Upon Senior Securities                     |  | 21
|          
|Item 4.    |  | Submission of Matters to a Vote of Security Holders |  | 21
|          
|Item 5.    |  | Other Information                                   |  | 21
|          
|Item 6.    |  | Exhibits and Reports on Form 8-K                    |  | 21
|          
|Signatures |  |                                                     |  | 22

2

PART I - FINANCIAL INFORMATION
Item 1 - Financial Statements

NTS-PROPERTIES VI,
A Maryland Limited Partnership
CONSOLIDATED BALANCE SHEETS

`As of                    As of
                                                                   March 31,              December 31,
                                                                     2002                     2001*
                                                              -------------------      -------------------
                                                                  (UNAUDITED)
ASSETS
------
Cash and equivalents                                         $            155,562     $             60,167
Cash and equivalents - restricted                                         266,305                  217,906
Accounts receivable, net of allowance for doubtful
  accounts of $8,551 at March 31, 2002 and $2,390 at
  December 31, 2001                                                        36,549                   52,389
Land, buildings and amenities, net                                     44,287,020               44,986,348
Other assets                                                            1,222,933                1,179,318
                                                              -------------------      -------------------

      TOTAL ASSETS                                           $         45,968,369     $         46,496,128
                                                              ===================      ===================

LIABILITIES AND PARTNERS' EQUITY
--------------------------------
Mortgages and notes payable                                  $         32,999,205     $         33,474,382
Accounts payable                                                          955,597                  932,295
Security deposits                                                         222,433                  223,533
Other liabilities                                                         610,378                  314,150
                                                              -------------------      -------------------

      TOTAL LIABILITIES                                                34,787,613               34,944,360

COMMITMENTS AND CONTINGENCIES (Note 9)

PARTNERS' EQUITY                                                       11,180,756               11,551,768
                                                              -------------------      -------------------

TOTAL LIABILITIES AND PARTNERS' EQUITY                       $         45,968,369     $         46,496,128
                                                              ===================      ===================`

STATEMENT OF PARTNERS' EQUITY
(UNAUDITED)

`Limited              General
                                                      Partners             Partner                Total
                                                 ------------------   ------------------    ------------------
PARTNERS' EQUITY/(DEFICIT)
--------------------------
Capital contributions, net of offering costs   $         40,518,631 $                100  $         40,518,731
Net loss - prior years                                  (14,096,238)             (93,996)          (14,190,234)
Net loss - current year                                    (367,302)              (3,710)             (371,012)
Cash distributions declared to date                     (12,006,384)            (121,277)          (12,127,661)
Repurchase of limited partnership Interests              (2,649,068)                  --            (2,649,068)
                                                 ------------------   ------------------    ------------------

BALANCES AT MARCH 31, 2002                     $         11,399,639 $           (218,883) $         11,180,756
                                                 ==================   ==================    ==================`

*     Reference is made to the audited consolidated financial statements in the Form 10-K as filed with the Securities
and Exchange Commission on March 29, 2002.

The accompanying notes to consolidated financial statements are an integral part of these statements.

3

NTS PROPERTIES VI,
A Maryland Limited Partnership
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

`Three Months Ended
                                                                               March 31,
                                                              --------------------------------------------
                                                                     2002                     2001
                                                              -------------------      -------------------
REVENUES
--------
Rental income                                                $          2,609,868     $          2,611,370
Interest and other income                                                   4,137                    6,708
                                                              -------------------      -------------------

     TOTAL REVENUES                                                     2,614,005                2,618,078
                                                              -------------------      -------------------

EXPENSES
--------
Operating expenses                                                        697,166                  721,659
Operating expenses - affiliated                                           429,623                  365,619
Loss on disposal of assets                                                     --                   56,042
Interest expense                                                          630,685                  662,663
Management fees                                                           134,282                  133,975
Real estate taxes                                                         243,481                  242,394
Professional and administrative expenses                                   49,027                   41,392
Professional and administrative expenses - affiliated                      92,370                   79,545
Depreciation and amortization                                             701,234                  650,070
                                                              -------------------      -------------------

     TOTAL EXPENSES                                                     2,977,868                2,953,359
                                                              -------------------      -------------------

Loss before minority interest                                            (363,863)                (335,281)
Minority interest                                                           7,149                   12,682
                                                              -------------------      -------------------

Net loss                                                     $           (371,012)    $           (347,963)
                                                              ===================      ===================

Net loss allocated to the limited partners                   $           (367,302)    $           (344,483)
                                                              ===================      ===================

Net loss per limited partnership Interest                    $              (9.44)    $              (8.84)
                                                              ===================      ===================

Weighted average number of limited partnership Interests                   38,889                   38,989
                                                              ===================      ===================`

The accompanying notes to consolidated financial statements are an integral part of these statements.

4

NTS-PROPERTIES VI,
A Maryland Limited Partnership
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

`Three Months Ended
                                                                                 March 31,
                                                               ----------------------------------------------
                                                                      2002                       2001
                                                               -------------------        -------------------
CASH FLOWS FROM OPERATING ACTIVITIES
------------------------------------
Net loss                                                     $            (371,012)     $            (347,963)
Adjustments to reconcile net loss to net cash provided by
  operating activities:
    Provision for doubtful accounts                                          8,551                         --
    Write-off of uncollectible accounts receivable                          (2,390)                        --
    Loss on disposal of assets                                                  --                     56,042
    Depreciation and amortization                                          714,752                    668,356
    Changes in assets and liabilities:
      Cash and equivalents - restricted                                    (48,399)                   (41,952)
      Accounts receivable                                                    9,679                     27,230
      Other assets                                                         (47,053)                    (5,683)
      Accounts payable                                                      23,302                    115,800
      Security deposits                                                     (1,100)                   (17,525)
      Other liabilities                                                    296,228                    240,664
      Minority interest income                                               7,149                     12,682
                                                               -------------------        -------------------

     Net cash provided by operating activities                             589,707                    707,651
                                                               -------------------        -------------------

CASH FLOWS FROM INVESTING ACTIVITIES
------------------------------------
Additions to land, buildings and amenities                                  (1,906)                  (146,670)
Minority interest distributions                                            (17,229)                   (20,184)
                                                               -------------------        -------------------

     Net cash used in investing activities                                 (19,135)                  (166,854)
                                                               -------------------        -------------------

CASH FLOWS FROM FINANCING ACTIVITIES
------------------------------------
Principal payments on mortgages and notes payable                         (475,177)                  (429,851)
Proceeds from notes payable                                                     --                    101,493
Additions to loan costs                                                         --                     (4,850)
                                                               -------------------        -------------------

     Net cash used in financing activities                                (475,177)                  (333,208)
                                                               -------------------        -------------------

     Net increase in cash and equivalents                                   95,395                    207,589

CASH AND EQUIVALENTS, beginning of period                                   60,167                     47,683
                                                               -------------------        -------------------

CASH AND EQUIVALENTS, end of period                          $             155,562      $             255,272
                                                               ===================        ===================

Interest paid on a cash basis                                $             628,725      $             646,010
                                                               ===================        ===================`

The accompanying notes to consolidated financial statements are an integral part of these statements.

5

NTS-PROPERTIES VI,
A Maryland Limited Partnership
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The unaudited consolidated financial statements and schedules included herein should be read in
conjunction with NTS-Properties VI's (the "Partnership") 2001 Form 10-K as filed with the
Securities and Exchange Commission on March 29, 2002. In the opinion of the General Partner, all
adjustments (only consisting of normal recurring accruals) necessary for a fair presentation have
been made to the accompanying consolidated financial statements for the three months ended March
31, 2002 and 2001.

The consolidated financial statements include the accounts of all wholly-owned properties and
majority-owned joint ventures. Intercompany transactions and balances have been eliminated. As
used in this Form 10-Q the terms "we," "us" or "our," as the context requires, may refer to the
Partnership or its interests in these properties and joint ventures.

Other assets includes minority interest in our joint venture properties totaling approximately
$680,000 and $670,000 as of March 31, 2002 and December 31, 2001, respectively. These amounts
have been derived primarily from distributions of the joint ventures in excess of the respective
minority partner's historical investment in the joint ventures used for financial reporting purposes.
This amount will be realized upon the sale of the respective joint venture property or dissolution of
the respective joint venture. The underlying assets of the joint ventures are assessed for asset
impairment on a periodic basis.

The preparation of financial statements in conformity with U.S. Generally Accepted Accounting
Principles ("GAAP") requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of revenues and expenses during the reporting
period. Actual results could differ from those estimates.

We own and operate, either wholly or through a joint venture, apartment communities in Kentucky
(Lexington), Indiana (Indianapolis) and Florida (Orlando). We also own and operate, through a joint
venture, a commercial rental property in Kentucky (Louisville). Substantially all of the commercial
property's tenants are local businesses or are businesses which have operations in the Louisville area.

6

Our financial instruments that are exposed to concentrations of credit risk consist of cash and
equivalents. We maintain our cash accounts primarily with banks located in Kentucky. The total cash
balances are insured by the FDIC up to $100,000 per bank account. We may at times, in certain
accounts, have deposits in excess of $100,000.

Cash and equivalents include cash on hand and short-term, highly liquid investments with initial
maturities of three months or less.  We have a cash management program which provides for the
overnight investment of excess cash balances. Per an agreement with a bank, excess cash is invested
in a repurchase agreement for U.S. government or agency securities on a nightly basis. As of March
31, 2002, approximately $57,000 was transferred into the investment.

Cash and equivalents - restricted represents funds received for residential security deposits, funds
which have been escrowed with mortgage companies for property taxes in accordance with the loan
agreements, and funds reserved by us for the repurchase of limited partnership Interests under the
tender offers.

Land, buildings and amenities are stated at historical cost, less accumulated depreciation, to us.
Costs directly associated with the acquisition, development and construction of a project are
capitalized.  Depreciation is computed using the straight-line method over the estimated useful lives
of the assets which are 5-30 years for land improvements, 5-30 years for buildings and
improvements, 3-30 years for amenities and the applicable lease term for tenant improvements. The
aggregate cost of our properties for federal tax purposes is approximately $76,335,000.

Statement of Financial Accounting Standards ("SFAS") No. 144, "Accounting for the Impairment
or Disposal of Long-Lived Assets," specifies circumstances in which certain long-lived assets must
be reviewed for impairment. If the carrying amount of an asset exceeds the sum of its expected future
cash flows, the asset's carrying value must be written down to fair value. Application of this standard
by management during the period ended March 31, 2002, did not result in any impairment loss.

7

Mortgages and notes payable consist of the following:

`March 31,                December 31,
                                                              2002                      2001
                                                       ------------------        -------------------
Mortgage payable with an insurance company,
bearing interest at 7.74%, due October 15, 2012,
secured by certain land, buildings and amenities.   $          11,615,996      $          11,700,216

Mortgage payable with an insurance company,
bearing interest at  7.57%, due May 15, 2009,
secured by certain land, buildings and amenities.               7,497,198                  7,691,673

Mortgage payable with an insurance company,
bearing interest at 7.32%, due October 15, 2012,
secured by certain land, buildings and amenities.               6,872,598                  6,980,987

Mortgage payable with an insurance company,
bearing interest at 8.375%, due December 1, 2010,
secured by certain land, buildings and amenities.               3,118,318                  3,135,343

Mortgage payable with an insurance company,
bearing interest at 7.38%, due December 5, 2012,
secured by certain land, buildings and amenities.               2,306,254                  2,341,123

Mortgage payable with an insurance company,
bearing interest at 7.38%, due December 5, 2012,
secured by certain land, buildings and amenities.               1,537,503                  1,560,749

Note payable to a bank, bearing interest at the Prime
Rate, but not less than 6.0%, due March 27, 2003. At
March 31, 2002, the interest rate was  6.00%.                      26,319                     32,958

Note payable to a bank, bearing interest at the Prime
Rate, but not less than 6.0%, due March 31, 2003. At
March 31, 2002, the interest rate was  6.00%.                      25,019                     31,333
                                                       ------------------        -------------------

                                                    $          32,999,205      $          33,474,382
                                                       ==================        ===================`

Based on the borrowing rates currently available to us for mortgages with similar terms and average
maturities, the fair value of long-term debt is approximately $33,944,000.

8

Pursuant to an agreement with us, NTS Development Company, an affiliate of our General Partner,
receives property management fees on a monthly basis. The fee is equal to 5% of the gross revenues
from residential properties and 6% of the gross revenues from the commercial property. Also
pursuant to an agreement, NTS Development Company receives a repair and maintenance fee equal
to 5.9% of costs incurred which relate to capital improvements and major repair and renovation
projects.  These repair and maintenance fees are capitalized as part of land, buildings and amenities.

We were charged the following amounts from NTS Development Company for the three months
ended March 31, 2002 and 2001. These charges include items which have been expensed as
operating expenses - affiliated or professional and administrative expenses - affiliated and items
which have been capitalized as other assets or as land, buildings and amenities.

`Three Months Ended
                                                                   March 31,
                                                      ------------------------------------
                                                            2002                2001
                                                      -----------------   ----------------

Property management fees                             $          134,282  $         133,975
                                                      -----------------   ----------------

Property management                                             279,737            253,884
Leasing                                                          42,902             38,908
Administrative - operating                                       82,289             70,696
Other                                                            24,695              2,131
                                                      -----------------   ----------------

     Total operating expenses - affiliated                      429,623            365,619
                                                      -----------------   ----------------

Professional and administrative expenses - affiliated            92,370             79,545
                                                      -----------------   ----------------

Repairs and maintenance fees                                        106             13,137
Leasing commissions                                               2,117                 --
Construction management                                              --              2,174
                                                      -----------------   ----------------

     Total related party transactions  capitalized                2,223             15,311
                                                      -----------------   ----------------

Total related party transactions                     $          658,498  $         594,450
                                                      =================   ================`

During the three months ended March 31, 2002 and 2001, we were charged $7,397 and $5,380,
respectively, for property maintenance fees from an affiliate of NTS Development Company.

We, as an owner of real estate, are subject to various environmental laws of federal, state and local
governments.  Compliance by us with existing laws has not had a material adverse effect on our
financial condition and results of operations.  However, we cannot predict the impact of new or
changed laws or regulations on our current properties or on properties that we may acquire in the
future.

9

On December 12, 2001, three individuals filed an action in the Superior Court of the State of
California for the County of Contra Costa against our General Partner, the general partners of four
public partnerships affiliated with us and several individuals and entities affiliated with us.  The
action purports to bring claims on behalf of a class of limited partners based on, among other things,
tender offers made by the public partnership and an affiliate of our General Partner.  The plaintiffs
allege, among other things, that the prices at which Interests were purchased in these tender offers
were too low.  The plaintiffs are seeking monetary damages and equitable relief, including an order
directing the disposition of the properties owned by the public partnerships and the proceeds
distributed.  Our General Partner believes that this action is without merit, and intends to vigorously
defend it.  No amounts have been accrued as a liability for this action in our financial statements at
March 31, 2002.

We have been sued by Elder Construction & Associates, Inc. in Jefferson Circuit Court, Louisville,
Kentucky, in a lawsuit styled Elder Construction & Associates, Inc. V. NTS Development Company,
Frontier Insurance Company, NTS-Properties VI, a Maryland Limited Partnership, NTS-Properties
Associates VI, and NTS Capital Corporation.

Elder Construction was hired to be the framing subcontractor with respect to certain improvements
at Phase III of Park Place Apartments in Lexington, Kentucky.  After being removed from the job
for its failure to provide its services in a professional, diligent and workmanlike manner, a complaint
was filed on behalf of Elder Construction in November 1999, alleging, inter alia, breach of contract.
The Complaint requested judgment against all defendants in the amount of $233,122 plus interest
and other relief against the defendants.

We and the other defendants have answered the complaint, and have asserted counterclaims against
the plaintiff for, inter alia, breach of contract.  Discovery is nearing completion.  The case has been
set for trial in June 2002.  The principals of the NTS defendants have indicated that the suit brought
by Elder Construction is without merit and will be vigorously defended, including the prosecution
by the defendants of counterclaims against Elder Construction.  We believe that the resolution of
these legal proceedings will not have a material effect on our consolidated financial position or
results of operations.

We do not believe there is any other litigation threatened against us other than routine litigation
arising out of the ordinary course of business, some of which is expected to be covered by insurance,
none of which is expected to have a material effect on our consolidated financial position or results
of operations except as discussed herein.  However, due to the recent event on September 11, 2001
affecting the insurance industry, we are unable to determine at what price we will be able to renew
our insurance coverage when the current policies expire in September 2002, or if the coverage
available will be adequate.

We plan to replace the roofs at both Willow Lake Apartments (26 buildings) and Park Place
Apartments Phase I (23 buildings), all of which were installed using shingles produced by a single
manufacturer. The shingles appear to contain defects which may cause the roofs to fail. As the

10

manufacturer has declared bankruptcy, we do not expect to be able to recover any of the costs of the
roof replacements in the event of any such failures. Based upon these facts, management changed
the estimated useful life of the roof assets. The change resulted in an approximate $47,000 increase
in depreciation expense for the three months ended March 31, 2002. We do not have sufficient
working capital to make all of the roof replacements at one time. As of March 31, 2002, four
buildings at Willow Lake Apartments have had roofs replaced. The total cost of replacing all the
remaining roofs is estimated to be $900,000 ($20,000 per building). It is anticipated that we will
require at least 12 months to generate sufficient cash reserves to begin the remaining roof
replacements.

We also plan to continue our efforts in the leasing of Plainview Point III Office Center.  One tenant
which occupied 16,895 square feet, or 27%, of the building, vacated its space on November 30,
2001.  This left Plainview Point III Office Center with only 54% occupancy.  As a result of this
vacancy, there will likely be a protracted period for the property to become fully leased again and
substantial funds, currently estimated to be approximately $313,000 will likely be needed for tenant
finish costs.

The roof replacements and the future leasing expenses discussed above will be made using funds
from operations or additional borrowings secured by our properties. There can be no guarantee that
such funds will be available at which time our General Partner will manage the demand on liquidity
according to our best interest.

Our reportable operating segments include Residential and Commercial Real Estate Operations. The
residential operations represent our ownership and operating results relative to apartment
communities known as Willow Lake, Park Place Phase I, Park Place Phase III, Sabal Park and Golf
Brook. The commercial operations represent our ownership and operating results relative to
suburban commercial office space known as Plainview Point III Office Center.

The financial information of the operating segments has been prepared using a management
approach, which is consistent with the basis and manner in which our management internally
disaggregates financial information for the purposes of assisting in making internal operating
decisions. We evaluate performance based on stand-alone operating segment net income.

11

`Three Months Ended March 31, 2002
                                                ---------------------------------------------------------

                                                   Residential         Commercial            Total
                                                -----------------  ------------------  ------------------
Rental income                                  $        2,466,537 $           143,331 $         2,609,868
Interest and other income                                   1,069               2,517               3,586
                                                -----------------  ------------------  ------------------

     Total net revenues                        $        2,467,606 $           145,848 $         2,613,454
                                                =================  ==================  ==================

Operating expenses and operating expenses -
  affiliated                                   $        1,046,457 $            80,332 $         1,126,789
Interest expense                                          196,602                  --             196,602
Management fees                                           125,978               8,304             134,282
Real estate taxes                                         234,685               8,796             243,481
Depreciation and amortization                             632,046              46,821             678,867
                                                -----------------  ------------------  ------------------

     Total expenses                            $        2,235,768 $           144,253 $         2,380,021
                                                =================  ==================  ==================

     Net income                                $          231,838 $             1,595 $           233,433
                                                =================  ==================  ==================`

`Three Months Ended March 31, 2001
                                                ---------------------------------------------------------

                                                   Residential         Commercial            Total
                                                -----------------  ------------------  ------------------
Rental income                                  $        2,376,003 $           235,367 $         2,611,370
Interest and other income                                   3,321                 862               4,183
                                                -----------------  ------------------  ------------------

     Total net revenues                        $        2,379,324 $           236,229 $         2,615,553
                                                =================  ==================  ==================

Operating expenses and operating expenses -
   affiliated                                  $        1,000,512 $            86,766 $         1,087,278
Loss on disposal of assets                                 56,042                  --              56,042
Interest expense                                          207,241                  --             207,241
Management fees                                           119,425              14,550             133,975
Real estate taxes                                         233,871               8,523             242,394
Depreciation and amortization                             578,730              48,973             627,703
                                                -----------------  ------------------  ------------------

     Total expenses                            $        2,195,821 $           158,812 $         2,354,633
                                                =================  ==================  ==================

     Net income                                $          183,503 $            77,417 $           260,920
                                                =================  ==================  ==================`

12

A reconciliation of the totals reported for the operating segments to the applicable line items in the
consolidated financial statements for the three months March 31, 2002 and 2001,  is necessary given
amounts recorded at the Partnership level and not allocated to the operating properties for internal
reporting purposes.

`Three Months Ended
                                                                                March 31,
                                                                  --------------------------------------
                                                                        2002                 2001
                                                                  -----------------    -----------------
NET REVENUES
------------
Total revenues for reportable segments                         $          2,613,454 $          2,615,553
Other income for Partnership                                                    551                2,525
                                                                  -----------------    -----------------

     Total consolidated net revenues                           $          2,614,005 $          2,618,078
                                                                  =================    =================

INTEREST EXPENSE
----------------
Interest expense for reportable segments                       $            196,602 $            207,241
Interest expense for Partnership                                            434,083              455,422
                                                                  -----------------    -----------------

     Total interest expense                                    $            630,685 $            662,663
                                                                  =================    =================

DEPRECIATION AND AMORTIZATION
-----------------------------
Total depreciation and amortization for reportable segments    $            678,867 $            627,703
Depreciation and amortization for Partnership                                22,367               22,367
                                                                  -----------------    -----------------

     Total depreciation and amortization                       $            701,234 $            650,070
                                                                  =================    =================

NET INCOME (LOSS)
-----------------
Total net income for reportable segments                       $            233,433 $            260,920
Minority interest for Partnership                                             7,149               12,682
Plus net loss for Partnership                                              (597,296)            (596,201)
                                                                  -----------------    -----------------

     Total net loss                                            $           (371,012)$           (347,963)
                                                                  =================    =================`

On May 10, 2002, ORIG, LLC, ("ORIG") an affiliate of ours, filed a tender offer with the Securities
and Exchange Commission, to purchase up to 2,000 of the limited partnership Interests at a price of
$380 per Interest as of the date of the tender offer.  Approximately $770,000 ($760,000 to purchase
2,000 Interests plus approximately $10,000 for expenses associated with the tender offer) is required
to purchase all 2,000 Interests.  If more than 2,000 Interests are tendered, ORIG may choose to
acquire the additional Interests on a pro rata basis.  Interests acquired by ORIG will be held by it.
The tender offer will expire on August 2, 2002 unless extended.  We are not participating in this
tender offer.

13

This Management's Discussion and Analysis of Financial Condition and Results of Operations
("MD&A") should be read in conjunction with the Consolidated Financial Statements in Item 1 and
the Cautionary Statements below.

A critical accounting policy, for our business, is the assumption that our properties' occupancy will
remain at a level which provides for debt payments and adequate working capital, currently and in
the future.  If occupancy were to fall below that level and remain at or below that level for a
significant period of time, then our ability to make payments  due under our debt agreements and to
continue paying daily operational costs would be greatly affected.  This would result in the
impairment of the respective properties' assets in accordance with Statement of Financial
Accounting Standards ("SFAS") No. 144, "Accounting for the Impairment or Disposal of Long-
Lived Assets."

Some of the statements included in this Item 2 may be considered to be "forward-looking
statements" since such statements relate to matters which have not yet occurred. For example,
phrases such as "we anticipate," "believe" or "expect," indicate that it is possible that the event
anticipated, believed or expected may not occur. Should such event not occur, then the result which
we expected also may not occur or occur in a different manner, which may be more or less favorable
to us. We do not undertake any obligations to publicly release the result of any revisions to these
forward-looking statements that may be made to reflect any future events or circumstances.

Any forward-looking statements included in MD&A, or elsewhere in this report, which reflect
management's best judgment, based on factors known, involve risks and uncertainties. Actual results
could differ materially from those anticipated in any forward-looking statements as a result of a
number of factors including but not limited to those discussed below. Any forward-looking
information provided by us pursuant to the safe harbor established by recent securities legislation
should be evaluated in the context of these factors.

Our liquidity, capital resources and results of operations are subject to a number of risks and
uncertainties including, but not limited to the following:

- our ability to achieve planned revenues;
- our ability to make payments due under our debt agreements;
- our ability to negotiate and maintain terms with vendors and service providers for
operating expenses;

14

- competitive pressures from other real estate companies, including large commercial
and residential real estate companies, which may affect the nature and viability of our
business strategy;
- trends in the economy as a whole which may affect consumer confidence and
demand for the types of rental property held by us;
- our ability to predict the demand for specific rental properties;
- our ability to attract and retain tenants;
- availability and costs of management and labor employed;
- real estate occupancy and development costs, including the substantial fixed
investment costs associated with renovations necessary to obtain new tenants and
retain existing tenants;
- the risk of a major commercial tenant defaulting on its lease due to risks generally
associated with real estate, many of which are beyond our control, including general
or local economic conditions, competition, interest rates, real estate tax rates, other
operating expenses and acts of God; and
- the risk of revised zoning laws, taxes and utilities regulations as well as municipal
mergers of local governmental entities.

The occupancy levels at our properties and joint ventures as of March 31, 2002 and 2001 were as
follows:

`Three Months Ended
                                                                           March 31,
                                                         ----------------------------------------------
                                                              2002 (1)                     2001
                                                         -------------------        -------------------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments (2)                                        90%                        96%
Park Place Apartments Phase I (3)                                73%                        76%
Willow Lake Apartments (2)                                       88%                        94%
Park Place Apartments Phase III (3)                              74%                        56%

Properties Owned in Joint Ventures with NTS-
--------------------------------------------
Properties IV (Ownership % at March 31, 2002)
---------------------------------------------

Golf Brook Apartments (96.03%) (2)                               84%                        88%
Plainview Point III Office Center (95.04%)(4)                    54%                        98%`

1. With the exception of Plainview Point III Office Center, current occupancy levels are considered adequate to
continue operation of our properties.
2. In our opinion, the decrease in occupancy is only a temporary fluctuation and does not represent a permanent
downward occupancy trend.
3. Park Place Apartments has experienced low occupancy for the last two years. We are actively working on
improving occupancy for 2002. Lowering rental rates on some apartments, implementing new promotions and
offering additional services are some of the steps we are taking to increase occupancy.
4. A tenant occupying 16,895 square feet, or 27%, of the building vacated its space on November 30, 2001. There
will likely be a protracted period for the property to become fully leased again and substantial funds, currently
estimated to be approximately $313,000, will likely be needed for tenant finish expenses. To fund the costs for the
tenant finish, we would have to obtain additional financing.

15

The average occupancy levels at our properties and joint ventures during the three months ended
March 31, 2002 and 2001 were as follows:

`Three Months Ended March 31,
                                                         ----------------------------------------------
                                                                2002                       2001
                                                         -------------------        -------------------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments (1)                                        91%                        97%
Park Place Apartments Phase I (2)                                72%                        74%
Willow Lake Apartments (1)                                       88%                        91%
Park Place Apartments Phase III (2)                              74%                        53%

Properties Owned in Joint Ventures with NTS-
--------------------------------------------
Properties IV (Ownership % at March 31, 2002)
---------------------------------------------

Golf Brook Apartments (96.03%)(1)                                86%                        88%
Plainview Point III Office Center (95.04%) (3)                   54%                        98%`

1. In our opinion, the decrease in average occupancy is only a temporary fluctuation and does not represent a
permanent downward occupancy trend.
2. Park Place Apartments has experienced low occupancy for the last two years. We are actively working on
improving occupancy for 2002. Lowering rental rates on some apartments, implementing new promotions and
offering additional services are some of the steps we are taking to increase occupancy.
3. A tenant occupying 16,895 square feet, or 27%, of the building vacated its space on November 30, 2001. There
will likely be a protracted period for the property to become fully leased again and substantial funds, currently
estimated to be approximately $313,000, will likely be needed for tenant finish expenses. To fund the costs for the
tenant finish, we would have to obtain additional financing.

Rental and other income generated by our properties and joint ventures for the three months ended
March 31, 2002 and 2001 were as follows:

`Three Months Ended
                                                                       March 31,
                                                      -------------------------------------------
                                                             2002                    2001
                                                      -------------------     -------------------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments                                $            472,334    $            504,181
Park Place Apartments Phase I                        $            352,479    $            347,735
Willow Lake Apartments                               $            608,451    $            585,857
Park Place Apartments Phase III                      $            302,710    $            222,163

Properties Owned in Joint Ventures with NTS-
--------------------------------------------
Properties IV (Ownership % at March 31, 2002)
---------------------------------------------

Golf Brook Apartments (96.03%)                       $            731,633    $            719,388
Plainview Point III Office Center (95.04%)           $            145,848    $            236,229`

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If there has not been a material change in an item from March 31, 2001 to March 31, 2002, we
have omitted any discussion concerning that item.

Operating expenses - affiliated increased approximately $64,000, or 18%, for the three months ended
March 31, 2002, as compared to the same period in 2001, primarily as a result of increased personnel
costs for property management, leasing and administration. Operating expenses - affiliated are for
services performed by employees of NTS Development Company, an affiliate of our General
Partner.  These employee services may include property management, leasing, maintenance, security
and other services necessary to manage and operate our properties.

The loss on disposal of assets for the three months ended March 31, 2001, can be attributed to Park
Place Apartments Phase I and Willow Lake Apartments due to partial retirements made as a result
of exterior repair projects.

Professional and administrative expenses increased approximately $8,000, or 18%, for the three
months ended March 31, 2002, as compared to the same period in 2001. The increase is mainly the
result of increased legal and professional fees.

Professional and administrative expenses increased approximately $13,000, or 16%, for the three
months ended March 31, 2002, as compared to the same period in 2001.  The increase is primarily
the result of increased personnel costs.  Professional and administrative expenses - affiliated are for
services performed by employees of NTS Development Company, an affiliate of our General
Partner.  These employee services include legal, financial and other services necessary to manage
and operate the Partnership.

Depreciation expense increased approximately $51,000, or 8%, for the three months ended March
31, 2002, as compared to the same period in 2001, primarily as a result of management's change in
the estimated useful life of all the roof assets at Park Place Phase I and Willow Lake Apartments in
July 2001. The estimated useful life was reduced in anticipation of replacing the roofs (resulting in
increased depreciation of approximately $47,000). The increase is also due to building improvements
and water sub-metering installations, net of retirements at Park Place I and Willow Lake Apartments.

17

Depreciation is computed using the straight-line method over the estimated useful lives of the assets
which are 5-30 years for land improvements, 5-30 years for buildings and improvements, 3-30 years
for amenities and the applicable lease term for tenant improvements. The aggregate cost of our
properties for federal tax purposes is approximately $76,335,000.

Cash flows provided by (used in):

`Three Months Ended
                                                                         March 31,
                                                       ---------------------------------------------
                                                              2002                      2001
                                                       ------------------        -------------------
Operating activities                                $             589,707      $             707,651
Investing activities                                              (19,135)                  (166,854)
Financing activities                                             (475,177)                  (333,208)
                                                       ------------------        -------------------

     Net increase in cash and equivalents           $              95,395      $             207,589
                                                       ==================        ===================`

Net cash provided by operating activities decreased approximately $118,000, or 17%, for the three
months ended March 31, 2002, as compared to the same period in 2001. The decrease was primarily
driven by the change in payables and other assets in 2002.  These increases were partially offset by
the change in other liabilities in 2002.

The decrease of approximately $148,000, or 89%, in net cash used in investing activities during the
three months ended March 31, 2002, as compared to the same period in 2001, was primarily due to
decreased capital expenditures.

The increase of approximately $142,000, or 43%,  in net cash used in financing activities, during the
three months ended March 31, 2002, as compared to the same period in 2001, was primarily due to
a decrease in proceeds from mortgage loans and an increase in principal payments made on
mortgages and notes payable.

Due to the fact that no distributions were made during the three months ended March 31, 2002 or
2001, the table which presents that portion of the distributions that represents a return of capital on
a GAAP basis has been omitted.

The demand on future liquidity is anticipated to increase as a result of the replacement of roofs at
both Willow Lake Apartments (26 buildings) and Park Place Apartments Phase I (23 buildings) all
of which were installed using shingles produced by a single manufacturer. The shingles appear to
contain defects which may cause the roofs to fail. As the manufacturer has declared bankruptcy, we
do not expect to be able to recover any of the costs of the roof replacements in the event of any such
failures. Based upon these facts, management changed the estimated useful life of the roof assets.
The change resulted in an approximate $47,000 increase in depreciation expense for the three months
ended March 31, 2002. We do not have sufficient working capital to make all of the roof

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replacements at one time. As of March 31, 2002, four buildings at Willow Lake Apartments have
had roofs replaced. The total cost of replacing the remaining roofs is estimated to be $900,000
($20,000 per building). It is anticipated that it will require at least 12 months to generate sufficient
reserves to continue the roof replacements.  Roof replacements will be made as each roof fails and
as working capital permits.

The demand on future liquidity is also anticipated to increase as we continue our efforts in the
leasing of Plainview Point III Office Center. One tenant which occupied 16,895 square feet, or 27%,
of the building vacated its space at the end of its lease term, which was November 30, 2001. This
left Plainview Point III Office Center with only 54% occupancy. As a result of this vacancy, there
will likely be a protracted period for the property to become fully leased again and substantial funds,
currently estimated to be approximately $313,000, will likely be needed for tenant finish costs.  It
is expected that we will obtain additional financing to fund these costs.

Future liquidity will also be affected by increased insurance expense.  We have budgeted for an
increase of approximately 25% upon renewal of our policies in September 2002, as compared to
2001.

In an effort to continue to improve occupancy at our apartment communities, we have an on-site
leasing staff, who are employees of NTS Development Company, at each of the apartment
communities. The staff handles all on-site visits from potential tenants, coordinates local advertising
with NTS Development Company's marketing staff, makes visits to local companies to promote
fully furnished apartments, and negotiates lease renewals with current residents.

The leasing and renewal negotiations for our commercial property are handled by leasing agents,
who are employees of  NTS Development Company, located in Louisville, Kentucky. The leasing
agents are located in the same city as the commercial property. All advertising for the commercial
property is coordinated by NTS Development Company's marketing staff located in Louisville,
Kentucky.

Leases at Plainview Point III Office Center provide for tenants to contribute toward the payment of
increases in common area maintenance expenses, insurance, utilities and real estate taxes. These
lease provisions, along with the fact that residential leases are generally for a period of one year,
should protect our operations from the impact of inflation and changing prices.

Our General Partner, along with the general partners of four other public limited partnerships
affiliated with us, is investigating a consolidation of us with other entities affiliated with us.  In
addition to these entities, the consolidation would likely involve several private partnerships and
other entities affiliated with us and our General Partner.  The new combined entity would own all
of the properties currently owned by the public limited partnerships, and the limited partners or other
owners of these entities would receive an ownership interest in the combined entity.  The number

19

of ownership interests to be received by limited partners and the other owners of the entities
participating in the consolidation would likely be determined based on the relative value of the assets
contributed to the combined entity by each public limited partnership, reduced by any indebtedness
assumed by the entity.  The majority of the contributed assets would consist of real estate properties,
whose relative values would be based on appraisals obtained at or near the consolidation date.  The
potential benefits of consolidating the entities include: reducing the administrative costs as a
percentage of assets and revenues by creating a single public entity; diversifying limited partners'
investments in real estate to include additional markets and types of properties; and creating an asset
base and capital structure that may enable greater access to the capital markets.  There are, however,
also a number of potential adverse consequences such as, the expenses associated with a
consolidation and the fact that the duration of the new entity would likely exceed our anticipated
duration, and that the interests of our limited partners in the combined entity would be smaller on
a percentage basis than their interests in us.  Further, the new entity may adopt investment and
management policies that are different from those presently used by our General Partner for us.  A
consolidation also requires approval of our limited partners and owners of the other proposed
participants.  Accordingly, there is no assurance that the consolidation will occur.

Our primary market risk exposure with regard to financial instruments is changes in interest rates.
All of our debt bears interest at a fixed rate with the exception of two notes payable of $26,319 and
$25,019,  that bear interest at the Prime Rate. A hypothetical 100 basis point increase in interest rates
would not significantly increase annual interest expense on the variable rate notes. A hypothetical
100 basis point increase in interest rates would result in an approximate $1,624,000 decrease in the
fair value of debt.

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Item 1 - Legal Proceedings
None.

Item 2 - Changes in Securities
None.

Item 3 - Defaults Upon Senior Securities
None.

Item 4 - Submission of Matters to a Vote of Security Holders
None.

Item 5 - Other Information
None.

Item 6 - Exhibits and Reports on Form 8-K
None.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

|NTS-PROPERTIES VI,
|------------------
|
|
|                  
|By:               
|                  
|                  
|                  
|                  
|                  
|                  
|                  

|/s/ Gregory A. Wells      
|--------------------------
|                          
|Gregory A. Wells          
|Senior Vice President and 
|Chief Financial Officer of
|NTS Capital Corporation   
|                          
|                          
|Date: May 14, 2002        

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