UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q


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

For the quarterly period ended                 March 31, 2001
                               -------------------------------------------------

                                       OR

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

For the transition period from                        to
                               ----------------------    -----------------------

Commission File Number                       0-14695
                       ---------------------------------------------------------

                NTS-PROPERTIES VI, A Maryland Limited Partnership
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)


         Maryland                                       61-1066060
---------------------------------           ------------------------------------
(State or other jurisdiction                (I.R.S. Employer Identification No.)
of incorporation or organization)

    10172 Linn Station Road
      Louisville, Kentucky                                40223
---------------------------------           ------------------------------------
(Address of principal executive offices)                (Zip Code)

                                 (502) 426-4800
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

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,  and (2) has been subject to such filing  requirements
for the past 90 days.
                                                                  [X] Yes [ ] No


<PAGE>



                                TABLE OF CONTENTS
                                -----------------

                                     PART I
                                     ------

                                                                          Pages
                                                                          -----

Item 1.    Financial Statements

           Balance Sheets as of March 31, 2001 and December 31, 2000    3

           Statement of Partners' Equity as of March 31, 2001           3

           Statements of Operations for the Three Months Ended
                    March 31, 2001 and 2000                             4

           Statements of Cash Flows for the Three Months Ended
                    March 31, 2001 and 2000                             5

           Notes to Financial Statements                                6-13

Item 2.    Management's Discussion and Analysis of Financial
                    Condition and Results of Operations                 14-19

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


<PAGE>



PART I.     FINANCIAL INFORMATION
            ---------------------
Item 1.     Financial Statements
            --------------------


<TABLE>

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

<CAPTION>

                                                                             As of                        As of
                                                                         March 31, 2001             December 31, 2000*
                                                                    ------------------------     ------------------------
                                                                          (UNAUDITED)
<S>                                                              <C>                          <C>
ASSETS
------
Cash and equivalents                                             $                   255,272  $                    47,683
Cash and equivalents - restricted                                                    273,703                      231,751
Accounts receivable                                                                   40,309                       67,539
Land, buildings and amenities, net                                                46,939,642                   47,498,726
Other assets                                                                       1,231,226                    1,231,836
                                                                    ------------------------     ------------------------

      TOTAL ASSETS                                               $                48,740,152  $                49,077,535
                                                                    ========================     ========================

LIABILITIES AND PARTNERS' EQUITY
--------------------------------
Mortgages and notes payable                                      $                34,821,018  $                35,149,376
Accounts payable                                                                     592,292                      476,492
Security deposits                                                                    243,158                      260,683
Other liabilities                                                                    520,259                      279,595
                                                                    ------------------------     ------------------------

      TOTAL LIABILITIES                                                           36,176,727                   36,166,146

COMMITMENTS AND CONTINGENCIES (Note 8)

PARTNERS' EQUITY                                                                  12,563,425                   12,911,389
                                                                    ------------------------     ------------------------

TOTAL LIABILITIES AND PARTNERS' EQUITY                           $                48,740,152  $                49,077,535
                                                                    ========================     ========================

</TABLE>


<TABLE>

                                               STATEMENT OF PARTNERS' EQUITY / DEFICIT

                                               ---------------------------------------

<CAPTION>

                                                            Limited                 General
                                                           Partners                 Partner                   Total
                                                      -------------------     --------------------     -------------------
<S>                                                <C>                      <C>                     <C>
PARTNERS' EQUITY/(DEFICIT)
--------------------------
Capital contributions, net of offering costs       $           40,518,631   $                  100  $           40,518,731
Net loss - prior years                                        (12,787,833)                 (80,780)            (12,868,613)
Net loss - current year                                          (344,483)                  (3,480)               (347,963)
Cash distributions declared to date                           (12,006,384)                (121,277)            (12,127,661)
Repurchase of limited partnership Units                        (2,611,069)                      --              (2,611,069)
                                                      -------------------     --------------------     -------------------

BALANCES AT MARCH 31, 2001                         $           12,768,862   $             (205,437) $           12,563,425
                                                      ===================     ====================     ===================

</TABLE>


*    Reference is made to the audited  consolidated  financial statements in the
     Form 10-K as filed with the Securities and Exchange  Commission on April 2,
     2001.

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


                                        3


<PAGE>



<TABLE>

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

<CAPTION>

                                                                                  Three Months Ended
                                                                                      March 31,
                                                                   ------------------------------------------------
                                                                            2001                      2000
                                                                   ----------------------    ----------------------
<S>                                                               <C>                       <C>
REVENUES
--------
Rental income                                                     $             2,611,370   $             2,491,221
Interest and other income                                                           6,708                    12,517
Gain on sale of assets                                                                 --                     5,188
                                                                   ----------------------    ----------------------

     TOTAL REVENUES                                                             2,618,078                 2,508,926
                                                                   ----------------------    ----------------------

EXPENSES
--------
Operating expenses                                                                721,659                   600,618
Operating expenses - affiliated                                                   365,619                   346,946
Loss on disposal of assets                                                         56,042                        72
Interest expense                                                                  662,663                   643,043
Management fees                                                                   133,975                   128,808
Real estate taxes                                                                 242,394                   261,142
Professional and administrative expenses                                           41,392                    57,809
Professional and administrative expenses - affiliated                              79,545                    72,681
Depreciation and amortization                                                     650,070                   542,471
                                                                   ----------------------    ----------------------

     TOTAL EXPENSES                                                             2,953,359                 2,653,590
                                                                   ----------------------    ----------------------

Net loss before minority interest                                                (335,281)                 (144,664)
Minority interest                                                                  12,682                    14,404
                                                                   ----------------------    ----------------------

Net loss                                                          $              (347,963)  $              (159,068)
                                                                   ======================    ======================

Net loss allocated to the limited partners                        $              (344,483)  $              (157,477)
                                                                   ======================    ======================

Net loss per limited partnership Unit                             $                (8.84)   $                (4.03)
                                                                   ======================    ======================

Weighted average number of limited partnership Units                               38,989                    39,089
                                                                   ======================    ======================

</TABLE>


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


                                        4


<PAGE>



<TABLE>

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

<CAPTION>

                                                                                       Three Months Ended
                                                                                            March 31,
                                                                        -------------------------------------------------
                                                                                 2001                       2000
                                                                        ----------------------     ----------------------
<S>                                                                   <C>                       <C>
CASH FLOWS FROM OPERATING ACTIVITIES
------------------------------------
Net loss                                                              $               (347,963) $                (159,068)
Adjustments to reconcile net loss to net cash provided by
  operating activities:
    Loss on disposal of assets                                                          56,042                         72
    Gain on sale of assets                                                                  --                     (5,188)
    Depreciation and amortization                                                      668,356                    563,529
    Changes in assets and liabilities:
      Cash and equivalents - restricted                                                (41,952)                   (80,912)
      Accounts receivable                                                               27,230                     46,443
      Other assets                                                                      (5,683)                   (79,346)
      Accounts payable                                                                 115,800                   (513,523)
      Security deposits                                                                (17,525)                     3,017
      Other liabilities                                                                240,664                    230,221
      Minority interest                                                                 12,682                     14,404
                                                                        ----------------------     ----------------------

     Net cash provided by operating activities                                         707,651                     19,649
                                                                        ----------------------     ----------------------

CASH FLOWS FROM INVESTING ACTIVITIES
------------------------------------
Additions to land, buildings and amenities                                            (146,670)                (1,302,133)
Proceeds from sale of assets                                                                 -                      8,736
Minority interest                                                                      (20,184)                    (8,419)
                                                                        ----------------------     ----------------------

     Net cash used in investing activities                                            (166,854)                (1,301,816)
                                                                        ----------------------     ----------------------

CASH FLOWS FROM FINANCING ACTIVITIES
------------------------------------
Principal payments on mortgages and notes payable                                     (429,851)                  (260,721)
Proceeds from notes payable                                                            101,493                  2,151,284
Additions to loan costs                                                                 (4,850)                   (18,431)
                                                                        ----------------------     ----------------------

     Net cash (used in) provided by financing activities                              (333,208)                 1,872,132
                                                                        ----------------------     ----------------------

     Net increase in cash and equivalents                                              207,589                    589,965

CASH AND EQUIVALENTS, beginning of period                                               47,683                        909
                                                                        ----------------------     ----------------------

CASH AND EQUIVALENTS, end of period                                   $                255,272  $                 590,874
                                                                        ======================     ======================

Interest paid on a cash basis                                         $                646,010  $                 638,408
                                                                        ======================     ======================

</TABLE>


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


                                        5


<PAGE>



                               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"), 2000
Form 10-K as filed with the Securities and Exchange Commission on April 2, 2001.
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, 2001 and 2000.

1.        Consolidation Policy and Joint Venture Accounting
          -------------------------------------------------

          The  consolidated  financial  statements  include the  accounts of all
          wholly-owned    properties   and   majority-owned    joint   ventures.
          Intercompany transactions and balances have been eliminated.

          From inception,  the Partnership used the proportionate  consolidation
          method of accounting for joint venture  properties.  The Partnership's
          proportionate  interest in the joint  venture's  assets,  liabilities,
          revenues,  expenses  and cash flows were  combined  on a  line-by-line
          basis  with  the  Partnership's  own  assets,  liabilities,  revenues,
          expenses and cash flows.

          Proportionate consolidation was utilized by the Partnership due to the
          fact that the ownership of joint venture properties, in substance, was
          not subject to joint  control.  The managing  General  Partners of the
          sole partner of the NTS sponsored partnerships which have formed joint
          ventures are  substantially  the same.  As such,  decisions  regarding
          financing,  development,  sale  or  operations  did  not  require  the
          approval  of  different  partners.  Additionally,  the  joint  venture
          properties are in the same business/industry as their respective joint
          venture  partners  and their  asset,  liability,  revenue  and expense
          accounts  correspond  with the  accounts of such  partners.  It is the
          belief of the General  Partner of the  Partnership  that the financial
          statement  disclosures  resulting  from  proportionate   consolidation
          provided a meaningful presentation of assets,  liabilities,  revenues,
          expenses  and cash flows given the  commonality  of the  Partnership's
          operations.

          The Emerging  Issues Tasks Force ("EITF") of the Financial  Accounting
          Standards  Board  ("FASB")  has reached a consensus on Issue No. 00-1,
          "Applicability  of the Pro Rata Method of Consolidation to Investments
          in Certain  Partnerships and Other Unincorporated Joint Ventures." The
          EITF  reached  a  consensus  that  a  proportionate   gross  financial
          statement presentation  (referred to as "proportionate  consolidation"
          in the Notes to Consolidated  Financial Statements) is not appropriate
          for an investment in an  unincorporated  legal entity accounted for by
          the equity method of accounting,  unless the investee is in either the
          construction  industry  or an  extractive  industry  where  there is a
          longstanding practice of its use.


                                        6


<PAGE>



1.        Consolidation Policy and Joint Venture Accounting - Continued
          -------------------------------------------------------------

          The consensus is applicable to financial statements for annual periods
          ending after June 15, 2000. The Partnership has used the equity method
          to account  for its joint  venture  investments  for the three  months
          ending March 31, 2001.  The  Partnership  has applied the consensus to
          all comparative financial  statements,  restating them to conform with
          the  consensus  for all periods  presented.  The  application  of this
          consensus  did not  result in a  restatement  of  previously  reported
          partners'  equity or net  results of  operations,  but did result in a
          recharacterization    or   reclassification   of   certain   financial
          statements' captions and amounts.

          Other assets includes  minority  interest in the  Partnership's  joint
          venture properties totaling  approximately $660,000 and $652,000 as of
          March 31, 2001 and December 31, 2000, 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.

2.        Use of Estimates in the Preparation of Financial Statements
          -----------------------------------------------------------

          The  preparation of financial  statements in conformity with 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.

3.        Concentration of Credit Risk
          ----------------------------

          The  Partnership  owns and operates,  either wholly or through a joint
          venture,  residential  rental  properties,  all of which are apartment
          communities,  in  Kentucky  (Lexington),  Indiana  (Indianapolis)  and
          Florida (Orlando).  The Partnership also owns and operates,  through a
          joint venture,  a commercial rental property in Louisville,  Kentucky.
          Substantially   all  of  the  tenants  are  local  businesses  or  are
          businesses which have operations in the Louisville area.

4.        Cash and Equivalents - Restricted
          ---------------------------------

          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 the Partnership for the purchase of
          limited partnership Units through tender offers (March 31, 2000 only).


                                        7


<PAGE>



5.        Basis of Property and Depreciation
          ----------------------------------

          Land,  buildings and amenities  are stated at  historical  cost,  less
          accumulated   depreciation,   to  the   Partnership.   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.

          Statement  of  Financial   Accounting   Standards  ("SFAS")  No.  121,
          "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
          Assets to be Disposed Of,"  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, 2001 and the year ended December 31, 2000, did not result in
          any impairment loss.

6.        Mortgages and Notes Payable
          ---------------------------

          Mortgages and notes payable consist of the following:


<TABLE>

                                                                March 31, 2001              December 31, 2000
                                                          --------------------------    --------------------------
          <S>                                                <C>                         <C>
          Mortgage payable with an insurance company,
          bearing interest at 7.74%, due October 15, 2012,
          secured by certain land, buildings and amenities.  $            11,931,459     $              12,009,852

          Mortgage payable with an insurance company,
          bearing interest at 7.57%, due May 15, 2009, secured
          by certain land, buildings and amenities.                        8,245,954                     8,426,706

          Mortgage payable with an insurance company,
          bearing interest at 7.32%, due October 15, 2012,
          secured by certain land, buildings and amenities.                7,287,833                     7,388,885

          Mortgage payable with an insurance company,
          bearing interest at 8.375%, due December 1, 2010,
          secured by certain land, buildings and amenities.                3,184,338                     3,200,000

          Mortgage payable with an insurance company,
          bearing interest at 7.38%, due December 5, 2012,
          secured by certain land, buildings and amenities.                2,441,965                     2,474,360

          Mortgage payable with an insurance company,
          bearing interest at 7.38%, due December 5, 2012,
          secured by certain land, buildings and amenities.                1,627,976                     1,649,573

          Note payable to a bank, bearing interest at the Prime
          Rate, due March 27, 2003.  At March 31, 2001, the
          interest rate was approximately 8.50%.                              52,020                            --

</TABLE>


                            (Continued on next page)


                                        8


<PAGE>



6.        Mortgages and Notes Payable - Continued
          ---------------------------------------


<TABLE>

                                                                March 31, 2001              December 31, 2000
                                                          --------------------------    --------------------------
          <S>                                             <C>                         <C>
          Note payable to a bank, bearing interest
          at the Prime Rate, due March 31, 2003. At
          March 31, 2001, the interest rate was
          approximately 8.50%.                                                49,473                            --
                                                          --------------------------    --------------------------

                                                         $                34,821,018   $                35,149,376
                                                          ==========================    ==========================

</TABLE>


          Based on the borrowing  rates  currently  available to the Partnership
          for  mortgages  with similar  terms and average  maturities,  the fair
          value of long-term debt is approximately $35,928,000.

          On March 27,  2001,  Park Place  Apartments  Phase I and  Willow  Lake
          Apartments,  both  obtained  notes  payable to a bank in the amount of
          $52,020 and  $49,473,  respectively.  Both notes bear  interest at the
          Prime Rate and are due on March 27, 2003.  The notes were  obtained to
          cover  the costs of  installing  a water  meter  system at each of the
          apartments.

7.        Related Party Transactions
          --------------------------

          Pursuant  to  an  agreement  with  the  Partnership,  NTS  Development
          Company,  an  affiliate  of the  General  Partner of the  Partnership,
          receives property management fees on a monthly basis. The fee is equal
          to 5% of the gross  revenues of the  residential  properties and 6% of
          the gross  revenues of 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.  These repair and  maintenance  fees are  capitalized as
          part of land, buildings and amenities.

          The Partnership was charged the following amounts from NTS Development
          Company  for  the  three   months  ended  March  31,  2001  and  2000,
          respectively.  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.


<TABLE>

                                                                                    Three Months Ended
                                                                                        March 31,
                                                                        ------------------------------------------
                                                                               2001                    2000
                                                                        -------------------     ------------------
<S>                                                                   <C>                    <C>
Property management fees                                              $             133,975  $             128,808
                                                                        -------------------     ------------------

Property management                                                                 253,884                221,520
Leasing                                                                              38,908                 44,670
Administrative - operating                                                           70,696                 77,582
Other                                                                                 2,131                  3,174
                                                                        -------------------     ------------------

     Total operating expenses - affiliated                                          365,619                346,946
                                                                        -------------------     ------------------

Professional and administrative expenses - affiliated                                79,545                 72,681
                                                                        -------------------     ------------------

Repairs and maintenance fee                                                          13,137                 14,380
Leasing commissions                                                                      --                  5,033
Construction management                                                               2,174                 22,660
                                                                        -------------------     ------------------

     Total related party transactions capitalized                                    15,311                 42,073
                                                                        -------------------     ------------------

Total related party transactions                                      $             594,450  $             590,508
                                                                        ===================     ==================

</TABLE>

                                       9

<PAGE>



7.        Related Party Transactions - Continued
          --------------------------------------

          On February 7, 2000, ORIG, LLC (the "Affiliate")  purchased  Interests
          in  the  Partnership  pursuant  to an  Agreement,  Bill  of  Sale  and
          Assignment  by and  among  the  Affiliate  and four  investors  in the
          Partnership.  The Affiliate purchased 675 Interests in the Partnership
          for a total  consideration of $281,128 or an average price of $416 per
          Interest.  The  Affiliate  paid these  investors  a premium  above the
          purchase  price  previously  offered for  Interests  pursuant to prior
          tender offers because this purchase  allowed the Affiliate to purchase
          substantial  numbers of Interests  without  incurring the  significant
          expenses involved with a tender offer and multiple transfers.

8.        Commitments and Contingencies
          -----------------------------

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

          The  Partnership  does not believe there is any litigation  threatened
          against the Partnership 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 the  consolidated  financial  statements of the  Partnership
          except as discussed herein.

          On July 19,  2000,  there was a fire at Golf Brook  Apartments.  Eight
          apartment  units  sustained fire and/or smoke damage.  The Partnership
          filed a claim with its insurance company, and after meeting the $5,000
          deductible,  have  collected  $250,000  as of March  31,  2001.  It is
          unknown  at this  time,  if the  costs  of the  repairs  to the  eight
          apartments will be completely covered by the insurance claim.

          The  Partnership  plans  to  replace  the  roofs at both  Willow  Lake
          Apartments  (26  buildings)  and  Park  Place  Apartments  Phase I (24
          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,
          the Partnership does not expect to be able to recover any of the costs
          of the  roof  replacements  in the  event of any  such  failures.  The
          Partnership  does not have  sufficient  working capital to make all of
          the roof replacements.  As of March 31, 2001, four buildings at Willow
          Lake Apartments  have had roofs replaced.  The total cost of replacing
          all the  remaining  roofs is  estimated  to be $920,000  ($20,000  per
          building).  The Partnership  anticipates that it will require at least
          12 months to build adequate cash reserves to begin roof replacements.

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


                                       10


<PAGE>



8.        Commitments and Contingencies - Continued
          -----------------------------------------

          The  Partnership has been sued by Elder  Construction  and 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.  All  of  the  named  NTS  entities  are  represented  by
          Middleton and Reutlinger, a Louisville, Kentucky law firm.

          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 judgement against the defendants in
          the amount of $233,122  plus  interest  and other  relief  against the
          defendants.

          The Partnership and the other  defendants have answered the complaint,
          and have asserted counterclaims against the plaintiff for, inter alia,
          breach of contract.  Discovery is proceeding,  but because the case is
          in the  early  discovery  phase an  outcome  cannot  be  predicted  at
          present.  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.  The Partnership  believes
          that  the  resolution  of  these  legal  proceedings  will  not have a
          material effect on its consolidated financial statements.

9.        Segment Reporting
          -----------------

          The Partnership's  reportable  operating segments include  residential
          and commercial  real estate  operations.  The  residential  operations
          represent the  Partnership's  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 the Partnership's 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  the  Partnership's  management  internally  reports
          financial   information  for  the  purposes  of  assisting  in  making
          operating decisions.  The Partnership  evaluates  performance based on
          stand-alone operating segment net income.


                                       11


<PAGE>



9.        Segment Reporting - Continued
          -----------------------------

<TABLE>

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

                                                          Residential           Commercial             Total
                                                       ------------------   ------------------   ------------------
<S>                                                   <C>                  <C>                  <C>
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
Management fees                                                   119,425               14,550              133,975
Real estate taxes                                                 233,871                8,523              242,394
Interest expense                                                  207,241                   --              207,241
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
                                                       ==================   ==================   ==================

</TABLE>


<TABLE>

                                                                    Three Months Ended March 31, 2000
                                                       ------------------------------------------------------------

                                                          Residential           Commercial             Total
                                                       ------------------   ------------------   ------------------
<S>                                                   <C>                  <C>                  <C>
Rental income                                         $         2,294,706  $           196,515  $         2,491,221
Interest and other income                                          11,210                  725               11,935
Gain on sale of assets                                              5,188                   --                5,188
                                                       ------------------   ------------------   ------------------

     Total net revenues                               $         2,311,104  $           197,240  $         2,508,344
                                                       ==================   ==================   ==================

Operating expenses and operating expenses -
    affiliated                                        $           862,249  $            85,315  $           947,564
Loss on disposal of assets                                             72                   --                   72
Interest expense                                                  219,126                   --              219,126
Management fees                                                   116,744               12,064              128,808
Real estate taxes                                                 252,469                8,673              261,142
Depreciation and amortization                                     471,088               49,150              520,238
                                                       ------------------   ------------------   ------------------

     Total expenses                                   $         1,921,748  $           155,202  $         2,076,950
                                                       ==================   ==================   ==================

     Net income                                       $           389,356  $            42,038  $           431,394
                                                       ==================   ==================   ==================

</TABLE>


                                       12


<PAGE>



9.        Segment Reporting - Continued
          -----------------------------

          A reconciliation of the totals reported for the operating  segments to
          the applicable line items in the consolidated financial statements for
          the three  months ended March 31, 2001 and 2000,  is  necessary  given
          amounts  recorded at the  Partnership  level and not  allocated to the
          operating properties for internal reporting purposes.


<TABLE>

                                                                          Three Months Ended March 31,
                                                              -----------------------------------------------------
                                                                        2001                         2000
                                                              ------------------------     ------------------------
<S>                                                         <C>                          <C>
NET REVENUES
------------
Total revenues for reportable segments                      $                2,615,553   $                2,508,344
Other income for Partnership                                                     2,525                          582
                                                              ------------------------     ------------------------

     Total consolidated net revenues                        $                2,618,078   $                2,508,926
                                                              ========================     ========================

INTEREST EXPENSE
----------------
Interest expense for reportable segments                    $                  207,241   $                  219,126
Interest expense for Partnership                                               455,422                      423,917
                                                              ------------------------     ------------------------

     Total interest expense                                 $                  662,663   $                  643,043
                                                              ========================     ========================

DEPRECIATION AND AMORTIZATION
-----------------------------
Total depreciation and amortization for reportable
  segments                                                  $                  627,703   $                  520,238
Depreciation and amortization for Partnership                                   22,367                       22,233
                                                              ------------------------     ------------------------

     Total depreciation and amortization                    $                  650,070   $                  542,471
                                                              ========================     ========================

NET INCOME (LOSS)
-----------------
Total net income for reportable segments                    $                  260,920   $                  431,394
Less minority interest for Partnership                                          12,682                       14,404
Plus net loss for Partnership                                                 (596,201)                    (576,058)
                                                              ------------------------     ------------------------

     Total net loss                                         $                 (347,963)  $                 (159,068)
                                                              ========================     ========================

</TABLE>


                                       13


<PAGE>



Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         -----------------------------------------------------------------------
         of Operations
         -------------

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations  ("MD&A") is  structured  in four major  sections.  The first section
provides  information  related to  occupancy  levels and rental and other income
generated  by the  Partnership's  properties  and  joint  ventures.  The  second
analyzes  results of  operations on a  consolidated  basis.  The final  sections
address consolidated cash flows and financial condition. A discussion of certain
market  risks also  follows.  The MD&A  should be read in  conjunction  with the
Consolidated Financial Statements in Item 1 and the Cautionary Statements below.

Cautionary Statements
---------------------

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 "the Partnership  anticipates,"
"believes"  or   "expects,"   indicate  that  it  is  possible  that  the  event
anticipated,  believed or expected  may not occur.  Should such event not occur,
then the result which the Partnership  expected also may not occur or occur in a
different  manner,  which may be more or less favorable to the Partnership.  The
Partnership does 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 judgement, 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 the  Partnership  pursuant to the safe harbor  established by recent
securities legislation should be evaluated in the context of these factors.

The  Partnership's  liquidity,  capital  resources and results of operations are
subject to a number of risks and uncertainties including, but not limited to the
following:  the ability of the  Partnership  to achieve  planned  revenues;  the
ability of the Partnership to make payments due under its debt  agreements;  the
ability of the  Partnership  to negotiate  and  maintain  terms with vendors and
service providers for operating expenses;  competitive  pressures from the other
real estate  companies,  including large  commercial and residential real estate
companies,  which may  affect  the nature  and  viability  of the  Partnership's
business  strategy;  trends in the economy as a whole which may affect  consumer
confidence and demand for the types of rental property held by the  Partnership;
the  ability of the  Partnership  to predict  the  demand  for  specific  rental
properties;  the  ability  of the  Partnership  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;  and the risk of a major commercial  tenant defaulting on its lease due
to risks  generally  associated  with real estate,  many of which are beyond the
control of the  Partnership,  including  general or local  economic  conditions,
competition, interest rates, real estate tax rates, other operating expenses and
acts of God.


                                       14


<PAGE>



Minority Interest
-----------------

The Emerging Issues Tasks Force ("EITF") of the Financial  Accounting  Standards
Board ("FASB") has reached a consensus on Issue No. 00-1,  "Applicability of the
Pro Rata Method of  Consolidation  to  Investments in Certain  Partnerships  and
Other  Unincorporated  Joint  Ventures."  The EITF  reached a  consensus  that a
proportionate   gross   financial   statement   presentation   (referred  to  as
"proportionate consolidation" in the Notes to Consolidated Financial Statements)
is not appropriate for an investment in an unincorporated legal entity accounted
for by the equity  method of  accounting,  unless the  investee is in either the
construction  industry or an extractive  industry  where there is a longstanding
practice of its use.

The consensus is applicable to financial  statements  for annual  periods ending
after June 15, 2000. The  Partnership  has used the equity method to account for
its joint venture  investments  for the three months ending March 31, 2001.  The
Partnership has applied the consensus to all comparative  financial  statements,
restating  them to conform with the  consensus  for all periods  presented.  The
application  of this  consensus  did not result in a  restatement  of previously
reported  partners'  equity or net  results of  operations,  but did result in a
recharacterization or reclassification of certain financial statements' captions
and amounts.

Results of Operations
---------------------

The occupancy  levels at the  Partnership's  properties and joint ventures as of
March 31, were as follows:

<TABLE>

                                                                               Three Months Ended March 31,
                                                                       ---------------------------------------------
                                                                             2001(1)                    2000
                                                                       -------------------       -------------------
<S>                                                                            <C>                       <C>
Wholly-Owned Properties
-----------------------

Sabal Park Apartments (2)                                                      96%                       99%
Park Place Apartments Phase I (2)                                              76%                       84%
Willow Lake Apartments                                                         94%                       87%
Park Place Apartments Phase III (3)                                            56%                       47%

Properties Owned in Joint Ventures with NTS-Properties IV
---------------------------------------------------------
(Ownership % at March 31, 2001)
-------------------------------

Golf Brook Apartments (96.03%) (2)                                             88%                       91%
Plainview Point III Office Center (95.04%)                                     98%                       87%

</TABLE>


(1)  Current occupancy levels are considered  adequate to continue  operation of
     all the underlying properties , without additional  financing,  except Park
     Place  Apartments  Phase III. Park Place  Apartments Phase III is currently
     undergoing an effort to lease the recently completed apartments.
(2)  In the opinion of the General Partner of the  Partnership,  the decrease in
     occupancy  is  only a  temporary  fluctuation  and  does  not  represent  a
     permanent downward occupancy trend.
(3)  On May 19, 2000, the last building at Park Place  Apartments  Phase III was
     certified  for  occupancy.  As of March 31, 2001,  there are 152  apartment
     units  available  for  lease  of  which  85 are  occupied.  There  were 138
     apartment  units  certified  for occupancy as of March 31, 2000 of which 26
     were occupied.


                                       15


<PAGE>



Results of Operations - Continued
---------------------------------

The average occupancy levels at the Partnership's  properties and joint ventures
during the three months ended March 31 were as follows:


<TABLE>

                                                                               Three Months Ended March 31,
                                                                       ---------------------------------------------
                                                                              2001                      2000
                                                                       -------------------       -------------------
<S>                                                                            <C>                       <C>
Wholly-Owned Properties
-----------------------

Sabal Park Apartments (1)                                                      97%                       98%
Park Place Apartments Phase I (1)                                              74%                       87%
Willow Lake Apartments                                                         91%                       86%
Park Place Apartments Phase III (2)                                            53%                       N/A

Properties Owned in Joint Ventures with NTS-Properties IV
---------------------------------------------------------
(Ownership % at March 31, 2001)
-------------------------------

Golf Brook Apartments (96.03%)(1)                                              88%                       94%
Plainview Point III Office Center (95.04%)                                     98%                       87%

</TABLE>


(1)  In the opinion of the General Partner of the  Partnership,  the decrease in
     average occupancy is only a temporary  fluctuation and does not represent a
     permanent downward occupancy trend.
(2)  Average occupancy is not applicable for Park Place Apartments Phase III for
     the three  months  ended  March 31,  2000,  due to the fact that units were
     certified for occupancy at different  times starting  September 8, 1999 and
     ending May 19, 2000.

Rental and other income  generated  by the  Partnership's  properties  and joint
ventures for the three months ended March 31, 2001 and 2000 were as follows:


<TABLE>

                                                                                Three Months Ended March 31,
                                                                         -------------------------------------------
                                                                                2001                    2000
                                                                         -------------------     -------------------
<S>                                                                     <C>                     <C>
Wholly-Owned Properties
-----------------------

Sabal Park Apartments                                                   $            504,181    $            477,855
Park Place Apartments Phase I                                           $            347,735    $            447,739
Willow Lake Apartments                                                  $            585,857    $            562,921
Park Place Apartments Phase III                                         $            222,163    $             62,425

Properties Owned in Joint Ventures with NTS-Properties IV
---------------------------------------------------------
(Ownership % at March 31, 2001)
-------------------------------

Golf Brook Apartments (96.03%)                                          $            719,388    $            760,165
Plainview Point III Office Center (95.04%)                              $            236,229    $            197,240

</TABLE>


The following is an analysis of material  changes in results of  operations  for
the periods  ending March 31, 2001 and 2000.  Items that did not have a material
impact on operations  for the periods  listed above have been excluded from this
discussion.

Rental  income  increased  approximately  $120,000,  or 5%, for the three months
ended March 31,  2001,  as compared to the same period in 2000.  The increase in
rental income was  primarily a result of rental  income  collected at Park Place
Apartments  Phase III (Park Place Apartments Phase III was not in full operation
during the three months ended March 31, 2000) and increased average occupancy at
Willow Lake  Apartments and Plainview  Point III Office Center.  The increase is
partially offset by decreased  average  occupancy at Park Place Apartments Phase
I, Sabal Park Apartments and Golf Brook Apartments.


                                       16


<PAGE>



Results of Operations - Continued
---------------------------------

Period-ending occupancy percentages represent occupancy only on a specific date;
therefore,  the above analysis considers average occupancy  percentages that are
representative of the entire period's results.

Operating  expenses  increased  approximately  $121,000,  or 20%,  for the three
months  ended  March 31,  2001,  as  compared  to the same  period in 2000.  The
increase is primarily due to the following: 1) increased repairs and maintenance
costs and utilities at Park Place  Apartments Phase III due to the fact that not
all of the units were turned over for  occupancy at March 31, 2000, 2) increased
legal and  professional  costs at Park Place  Apartments  Phase III due to costs
incurred in relation to a lawsuit with Elder  Construction  (See Item 1 - Note 8
for further information regarding the lawsuit), 3) increased landscaping at Park
Place  Apartments  Phase III and Park  Place  Apartments  Phase I, 4)  increased
insurance  premiums  at Golf  Brook  Apartments  and Sabal Park  Apartments  and
increased  insurance costs at Park Place Apartments Phase III (monthly insurance
premiums  for the period  ended March 31, 2000 were  capitalized  as part of the
construction  project),  5)increased  repairs  and  maintenance  at  Golf  Brook
Apartments,  6)  increased  administrative  costs at Sabal Park  Apartments  and
Willow Lake Apartments,  7) increased advertising at Park Place Apartments Phase
I and Willow Lake Apartments and 8) increased utilities at Park Place Apartments
Phase I. The increase is partially  offset by 1) decreased  exterior  repairs at
Park  Place  Apartments  Phase  I,  2)  decreased  landscaping  at  Willow  Lake
Apartments and 3) decreased cable expense at Willow Lake Apartments (starting in
March 2001, residents are responsible for paying their own cable costs).

Operating expenses - affiliated increased  approximately $19,000, or 5%, for the
three months ended March 31, 2001,  as compared to the same period in 2000.  The
increase is mainly the result of 1) increased  property manager salary at Willow
Lake  Apartments  due to the position  being vacant  during the first quarter of
2000  and to a  performance  bonus  paid in the  first  quarter  of 2001  and 2)
increased  grounds  maintenance  salaries at Willow Lake  Apartments  due to the
position  being vacant in the first  quarter of 2000.  The increase is partially
offset by decreased  overhead  costs  allocated  to  Plainview  Point III Office
Center and Golf Brook Apartments.

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.

Real estate taxes decreased  approximately  $19,000, or 7%, for the three months
ended March 31,  2001,  as compared to the same period in 2000.  The decrease is
due to 1) property taxes were over accrued at Park Place  Apartments Phase I and
Park Place Apartments Phase III at March 31, 2000 (due to the actual assessments
being lower than what was  estimated)  and 2) decreased tax  assessment  and tax
rate at Willow Lake Apartments.

Professional and administrative  expenses decreased  approximately  $16,000,  or
28%, for the three  months ended March 31, 2001,  as compared to the same period
in 2000.  The  decrease is mainly the result of  decreased  external  processing
fees.  The  decrease  is also a result  of  decreased  employee  recruiting  and
temporary services.


                                       17


<PAGE>



Results of Operations - Continued
---------------------------------

Professional and administrative  expenses - affiliated  increased  approximately
$7,000,  or 9%, for the three months  ended March 31,  2001,  as compared to the
same period in 2000,  primarily as a result of increased  finance and accounting
salary costs due to changes in staff. Professional and administrative expenses -
affiliated  are expenses  incurred  for  services  performed by employees of NTS
Development Company, an affiliate of the General Partner.

Depreciation  expense increased  approximately  $108,000,  or 20%, for the three
months ended March 31, 2001,  as compared to the same period in 2000,  primarily
as a result of the following:  1)  capitalization of Park Place Apartments Phase
III's  construction   costs   (approximately   $11,240,000),   and  2)  building
improvements, net of retirements, at Park Place Apartments Phase I. The increase
is partially  offset by a portion of the original  land  improvements,  building
improvements and amenities at the Partnership's  underlying  properties becoming
fully depreciated.

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 the
Partnership's properties for federal tax purposes is approximately $76,044,000.

Consolidated Cash Flows and Financial Condition
-----------------------------------------------

Cash flows provided by (used in):


<TABLE>

                                                                                  Three Months Ended March 31,
                                                                   -----------------------------------------------------------
                                                                              2001                            2000
                                                                   ---------------------------     ---------------------------
<S>                                                             <C>                             <C>
Operating activities                                            $                      707,651  $                       19,649
Investing activities                                                                  (166,854)                     (1,301,816)
Financing activities                                                                  (333,208)                      1,872,132
                                                                   ---------------------------     ---------------------------

     Net increase in cash and equivalents                       $                      207,589  $                      589,965
                                                                   ===========================     ===========================

</TABLE>


Net cash provided by operating activities increased  approximately  $688,000 for
the three months  ended March 31, 2001,  as compared to the same period in 2000.
The increase was driven  primarily by decreased cash  requirements  necessary to
satisfy  accounts  payable related to the completion of the construction of Park
Place Apartments Phase III.

The  decrease  of  approximately  $1,135,000  in  net  cash  used  in  investing
activities during the three months ended March 31, 2001, as compared to the same
period  in  2000,   was   primarily  due  to  decreased   capital   expenditures
(construction of Park Place Apartments Phase III was completed in 2000).

The  decrease of  approximately  $2,205,000  in net cash  provided by  financing
activities,  during the three months  ended March 31,  2001,  as compared to the
same period in 2000,  was  primarily due to a decrease in proceeds from mortgage
loans and an increase in principal payments made on mortgages and notes payable.
The  decrease is  partially  offset by a decrease in the  repurchase  of limited
partnership Units.


                                       18


<PAGE>



Consolidated Cash Flows and Financial Condition - Continued
-----------------------------------------------------------

On March 21, 2000, the Partnership  notified its Limited  Partners that it would
be  suspending  distributions  starting  January  1,  2000.  The  suspension  is
necessary due to significant capital  improvements  essential to maintaining the
buildings and facilities  owned by the  Partnership  at Willow Lake  Apartments,
Park Place Apartments Phase I, Sabal Park Apartments and Golf Brook  Apartments.
The  Partnership's  cash  position is evaluated on an ongoing basis to determine
when resumption of distributions is appropriate.

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 (24  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,  the  Partnership  does not expect to be able to recover  any of the
costs  of  the  roof  replacements  in  the  event  of any  such  failures.  The
Partnership  does not have  sufficient  working  capital to make all of the roof
replacements.  As of March 31, 2001,  four  buildings at Willow Lake  Apartments
have had roofs  replaced.  The total cost of replacing  the  remaining  roofs is
estimated to be $920,000  ($20,000 per building).  The  Partnership  anticipates
that it will require at least 12 months to build adequate cash reserves to begin
roof replacements.

In the next 12 months,  the demand on future  liquidity is also  anticipated  to
increase as the  Partnership  continues  its efforts in the leasing of Plainview
Point III Office  Center.  At this time,  the future  leasing and tenant  finish
costs,  which will be required to renew the  current  leases that expire  during
2001 or obtain new tenants, are unknown.

In an effort to continue to improve occupancy at the  Partnership's  residential
properties,  the Partnership has 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 the Partnership's  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
the Partnership's operations from the impact of inflation and changing prices.


                                       19


<PAGE>



Item 3.   Quantitative and Qualitative Disclosures About Market Risk
          ----------------------------------------------------------

The Partnership's  primary risk exposure with regard to financial instruments is
changes in interest  rates.  All of the  Partnership's  debt bears interest at a
fixed rate with the exception of two notes payable of $52,020 and $49,473,  that
bear  interest at the Prime Rate.  At March 31, 2001, a  hypothetical  100 basis
point increase in interest rates would result in approximately $1,000 additional
annual  interest  expense on the  variable  rate  notes.  The same  increase  in
interest  rates would also result in an approximate  $1,841,000  decrease in the
fair value of debt held by the Partnership.











                                       20


<PAGE>



PART II.          OTHER INFORMATION
                  -----------------

Item 1.           Legal Proceedings
                  -----------------

                  Not applicable.

Item 2.           Changes in Securities
                  ---------------------

                  Not applicable.

Item 3.           Defaults Upon Senior Securities
                  -------------------------------

                  Not applicable.

Item 4.           Submission of Matters to a Vote of Security Holders
                  ---------------------------------------------------

                  Not applicable.

Item 5.           Other Information
                  -----------------

                  Not applicable.

Item 6.           Exhibits and Reports on Form 8-K
                  --------------------------------

                  a)       Reports on Form 8-K:

                           Not applicable.


                                       21


<PAGE>


                                   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,
                                            A Maryland Limited Partnership
                                  ----------------------------------------------
                                                    (Registrant)

                                  By:      NTS-Properties Associates VI,
                                           General Partner
                                           By:     NTS Capital Corporation
                                                   General Partner



                                  /s/ Gregory A. Wells
                                  ----------------------------------------------
                                  Gregory A. Wells
                                  Senior Vice President and
                                  Chief Financial Officer of
                                  NTS Capital Corporation


Date: May 15, 2001


                                       22