FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                        Quarterly or Transitional Report

                      U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

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


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


        For the transition period from November 1, 1999 to December 31, 1999

                         Commission file number 0-13261

                              SHELTER PROPERTIES VI

         (Exact name of small business issuer as specified in its charter)



         South Carolina                                         57-0755618
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                         55 Beattie Place, P.O. Box 1089
                        Greenville, South Carolina 29602

                      (Address of principal executive offices)

                                 (864) 239-1000

                           (Issuer's telephone number)

Check  whether the issuer (1) 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___

<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                              SHELTER PROPERTIES VI

                                  BALANCE SHEET

                                   (Unaudited)

                        (in thousands, except per unit data)

                                December 31, 1999

Assets

   Cash and cash equivalents                                            $ 2,901
   Receivables and deposits                                                 662
   Restricted escrows                                                       766
   Other assets                                                             368
   Investment properties:
      Land                                                    $ 4,950
      Buildings and related personal property                   50,536
                                                                ------
                                                                         55,486

      Less accumulated depreciation                            (29,198)  26,288
                                                                ------   ------
                                                                       $ 30,985

Liabilities and Partners' (Deficit) Capital
Liabilities

   Accounts payable                                                     $   210
   Tenant security deposit liabilities                                      215
   Accrued property taxes                                                   655
   Other liabilities                                                        304
   Distribution payable                                                     428
   Mortgage notes payable                                                25,302

Partners' (Deficit) Capital

   General partners                                            $ (306)
   Limited partners (42,324 units issued and
      outstanding)                                               4,177    3,871
                                                                ------   ------

                                                                       $ 30,985

                   See Accompanying Notes to Financial Statements


<PAGE>

b)

                              SHELTER PROPERTIES VI

                            STATEMENTS OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)



                                                       Two Months Ended
                                                         December 31,
                                                       1999       1998
                                                       ----       ----
                                                               (Restated)
Revenues:
   Rental income                                      $1,716     $1,623
   Other income                                          123        135
                                                       -----      -----
      Total revenues                                   1,839      1,758
                                                       -----      -----
Expenses:
   Operating                                             655        669
   General and administrative                             29         52
   Depreciation                                          295        338
   Interest                                              375        391
   Property taxes                                        145        150
                                                       -----      -----
      Total expenses                                   1,499      1,600
                                                       -----      -----

Income before cumulative effect of a change in
   accounting principle                                  340        158
Cumulative effect on prior years of a change
   in accounting for the cost of exterior
   painting and major landscaping                         --        253
                                                       -----      -----

Net income                                            $ 340       $ 411
                                                       ====        ====

Net income allocated to general partners (1%)         $    3      $   4
Net income allocated to limited partners (99%)           337        407
                                                       -----      -----
                                                      $ 340       $ 411
                                                       ====        ====
Net income per limited partnership unit:
   Income before cumulative effect of a change
      in accounting principle                         $ 7.96     $ 3.70
   Cumulative effect on prior years of a change
      in accounting for the cost of exterior
      painting and major landscaping                      --       5.92
                                                       -----      -----

Net income                                            $ 7.96     $ 9.62
                                                       =====      =====

Distributions per limited partnership unit            $10.02     $49.45
                                                       =====      =====




                   See Accompanying Notes to Financial Statements


<PAGE>


c)

                               SHELTER PROPERTIES VI
                STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)

                          (in thousands, except unit data)



                                   Limited
                                 Partnership    General      Limited
                                    Units       Partners     Partners     Total

Original capital contributions     42,324         $ 2        $42,324    $42,326
                                   ======          ==         ======     ======

Partners' (deficit) capital at
   October 31, 1999                42,324        $ (305)     $ 4,264    $ 3,959

Distribution to partners               --            (4)        (424)      (428)

Net income for the two months
   ended December 31, 1999             --             3          337        340
                                   ------        ------       ------     ------

Partners' (deficit) capital at
   December 31, 1999               42,324        $ (306)     $ 4,177    $ 3,871
                                   ======         =====       ======     ======


                   See Accompanying Notes to Financial Statements


<PAGE>


d)

                              SHELTER PROPERTIES VI

                            STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                   (in thousands)

                                                             Two Months Ended
                                                               December 31,

                                                            1999         1998

Cash flows from operating activities:                                 (Restated)
   Net income                                            $   340      $   411
   Adjustments to reconcile net income to net
     cash provided by operating activities:
        Depreciation                                         295          338
        Amortization of discounts and loan costs              41           47
        Cumulative effect on prior years of a change in
          accounting principle                                --         (253)
        Change in accounts:
            Receivables and deposits                          89          128
            Other assets                                     103            4
            Accounts payable                                  (9)         (89)
            Tenant security deposit liabilities                1            2
            Accrued property taxes                          (111)         (78)
            Other liabilities                               (164)          17
                                                          ------       ------

               Net cash provided by operating activities     585          527
                                                          ------       ------

Cash flows from investing activities:

   Property improvements and replacements                   (328)        (130)
   Net (deposits to) withdrawals from restricted escrows     (10)          64
                                                          ------       ------

               Net cash used in investing activities        (338)         (66)
                                                          ------       ------

Cash flows from financing activities:

   Payments on mortgage notes payable                       (159)        (149)
   Distribution paid to partners                              --       (2,100)
                                                          ------       ------

               Net cash used in financing activities        (159)      (2,249)
                                                          ------       ------

Net increase (decrease) in cash and cash equivalents          88       (1,788)
Cash and cash equivalents at beginning of period           2,813        3,111
                                                          ------       ------
Cash and cash equivalents at end of period               $ 2,901      $ 1,323
                                                          ======       ======

Supplemental disclosure of cash flow information:

   Cash paid for interest                                $   334      $   344
                                                          ======       ======

Supplemental disclosure of non-cash transaction:

   Distribution payable                                  $   428      $    --
                                                          ======       ======

                   See Accompanying Notes to Financial Statements


<PAGE>

e)

                              SHELTER PROPERTIES VI

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)

Note A - Basis of Presentation

The accompanying  unaudited  financial  statements of Shelter Properties VI (the
"Partnership" or  "Registrant")  have been prepared in accordance with generally
accepted  accounting  principles for interim financial  information and with the
instructions  to Form 10-QSB and Item 310 (b) of  Regulation  S-B.  Accordingly,
they do not include all of the information  and footnotes  required by generally
accepted accounting principles for complete financial statements. In the opinion
of  Shelter  Realty  VI  Corporation  (the  "Corporate  General  Partner"),  all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair presentation have been included. Operating results for the two month period
ended December 31, 1999, are not necessarily  indicative of the results that may
be  expected  for  the  fiscal  year  ending  December  31,  2000.  For  further
information, refer to the financial statements and footnotes thereto included in
the  Partnership's  Annual  Report on Form 10-KSB for the year ended October 31,
1999.

Change in Fiscal Year End: The Partnership elected to change its fiscal year end
from October 31 to December 31,  effective  for the period  ending  December 31,
1999.

Change in Accounting  Principle:  During the two months ended  December 31, 1999
(effective  November 1, 1998), the Partnership  changed its method of accounting
to  capitalize  the  cost  of  exterior  painting  and  major  landscaping.  The
Partnership believes that this accounting principle change is preferable because
it  provides a better  matching  of  expenses  with the  related  benefit of the
expenditures and it is consistent with industry practice and the policies of the
Corporate  General  Partner.  The effect of the change for the two months  ended
December  31, 1998 was to  decrease  income  before the change by  approximately
$13,000 ($.31 per limited partnership unit). The cumulative effect adjustment of
approximately   $253,000   is  the   result  of   applying   retroactively   the
aforementioned accounting principle change and is included in income for the two
months ended December 31, 1998. The accounting change will not have an affect on
cash flow,  funds  available for  distribution  or fees payable to the Corporate
General Partner and affiliates.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into Apartment  Investment and Management Company  ("AIMCO"),  a publicly
traded real estate investment trust, with AIMCO being the surviving  corporation
(the "Insignia Merger").  As a result, AIMCO acquired 100% ownership interest in
the Corporate  General Partner.  The Corporate  General Partner does not believe
that this  transaction has had or will have a material effect on the affairs and
operations of the Partnership.

Note C - Reconciliation of Cash Flows

The following is a reconciliation of the subtotal on the accompanying statements
of cash flows captioned "net cash provided by operating activities" to "net cash
used in operations",  as defined in the partnership agreement of the Partnership
(the "Partnership Agreement"). However, "net cash used in operations" should not
be considered an alternative to net income as an indicator of the  Partnership's
operating performance or to cash flows as a measure of liquidity.

                                                            Two Months Ended
                                                              December 31,
                                                          1999             1998
                                                          ----             ----
                                                             (in thousands)
     Net cash provided by operating activities           $ 585            $ 527
        Payments on mortgage notes payable                (159)            (149)
        Property improvements and replacements            (328)            (130)
        Change in restricted escrows, net                  (10)              64
        Changes in reserves for net operating
           liabilities                                      98               16
        Additional reserves                               (186)            (328)
                                                        ------           ------

           Net cash used in operations                    $ --             $ --
                                                           ===              ===

The  Corporate  General  Partner  believed it to be in the best  interest of the
Partnership to reserve net cash from  operations of  approximately  $186,000 and
$328,000 at December 31, 1999 and 1998, respectively, to fund continuing capital
improvements and repairs at the Partnership's six investment properties.

Note D - Transactions with Affiliated Parties

The  Partnership  has no employees  and is dependent  on the  Corporate  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
partnership activities.  The Partnership Agreement provides for certain payments
to affiliates for services and the reimbursement of certain expenses incurred by
affiliates on behalf of the  Partnership.  The following  transactions  with the
Corporate General Partner and/or its affiliates were charged to expense for each
of the two months ended December 31, 1999 and 1998:

                                                         1999       1998
                                                         ----       ----
                                                          (in thousands)

         Property management fees (included in
           operating expenses)                           $ 90       $ 87
         Reimbursement for services of affiliates
           (included in operating, general and
           administrative expenses, and investment
           properties)                                     34         35

During  the two months  ended  December  31,  1999 and 1998,  affiliates  of the
Corporate General Partner were entitled to receive 5% of gross receipts from all
of the Registrant's properties as compensation for providing property management
services.  The  Registrant  paid to such  affiliates  approximately  $90,000 and
$87,000 for the two months ended December 31, 1999 and 1998, respectively.

Affiliates  of  the  Corporate   General  Partner  received   reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $34,000 and
$35,000 for the two months ended December 31, 1999 and 1998, respectively.

Several tender offers were made by various parties,  including affiliates of the
general  partners,  during the two months ended December 31, 1999 and the fiscal
years ended October 31, 1999 and 1998. As a result of these tender offers, AIMCO
and it affiliates currently own 23,628 units of limited partnership units in the
Partnership  representing  55.83% of the outstanding  units. It is possible that
AIMCO or its  affiliates  will make one or more  additional  offers  to  acquire
additional  limited  partnership  interests  in the  Partnership  for cash or in
exchange for units in the operating partnership of AIMCO. Consequently, AIMCO is
in a position to influence all voting  decisions with respect to the Registrant.
Under the Partnership Agreement, unitholders holding a majority of the Units are
entitled  to take action  with  respect to a variety of matters.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable  to the interest of the  Corporate  General  Partner  because of their
affiliation with the Corporate General Partner.

Note E - Distributions

During the two months ended December 31, 1999, a  distribution  was approved for
approximately $428,000 (approximately  $424,000 to the limited partners,  $10.02
per limited  partnership  unit) from  operations.  The  distribution was paid in
January 2000. A cash  distribution of  approximately  $2,100,000 was paid to the
partners during the two months ended December 31, 1998. Approximately $1,412,000
($33.36 per limited  partnership  unit) was paid to the  limited  partners  from
previously  undistributed  proceeds  of a fiscal  year  1995  property  sale and
approximately $688,000 (approximately  $681,000 to the limited partners,  $16.09
per limited partnership unit) was paid from operations.

Note F - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment  derives its  revenues:  The  Partnership  has one  reportable  segment:
residential  properties  consisting of six apartment  complexes  located in five
states  throughout  the United  States as follows:  one each in  Georgia,  Iowa,
Florida,  and  Colorado,  and  two in  North  Carolina.  The  Partnership  rents
apartment units to tenants for terms that are typically twelve months or less.

Measurement  of segment profit or loss: The  Partnership  evaluates  performance
based on net income.  The accounting  policies of the reportable segment are the
same as those described in the summary of significant accounting policies in the
Partnership's Annual Report on Form 10-KSB for the year ended October 31, 1999.

Factors management used to identify the Partnership's  reportable  segment:  The
Partnership's  reportable  segment consists of investment  properties that offer
similar  products and services.  Although each of the investment  properties are
managed  separately,  they have been aggregated into one segment as they provide
services with similar types of products and customers.

Segment  information  for the two month period ended December 31, 1999 and 1998,
is shown in the  tables  below  (in  thousands).  The  "Other"  column  includes
partnership administration related items and income and expense not allocated to
the reportable segment.

                 1999                   Residential      Other       Totals
                 ----                   -----------      -----       ------

Rental income                             $ 1,716         $ --      $ 1,716
Other income                                  120             3         123
Interest expense                              375            --         375
Depreciation                                  295            --         295
General and administrative expense             --            29          29
Segment profit (loss)                         366           (26)        340
Total assets                               30,007           978      30,985
Capital expenditures for investment
  properties                                  328            --         328


                 1998                   Residential      Other       Totals
                 ----                   -----------      -----       ------

Rental income                             $ 1,623         $ --      $ 1,623
Other income                                  114            21         135
Interest expense                              391            --         391
Depreciation                                  338            --         338
General and administrative expense             --            52          52
Cumulative effect on prior years
  of change in accounting principle           253            --         253
Segment profit (loss)                         442           (31)        411
Total assets                               29,758           875      30,633
Capital expenditures for investment
  properties                                  130            --         130

Note G - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the Partnership,  the Corporate  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Note B - Transfer  of  Control").  The  plaintiffs  seek  monetary  damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Corporate  General  Partner filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended complaint.  The Corporate General Partner filed demurrers to the amended
complaint which were heard February 1999.  Pending the ruling on such demurrers,
settlement negotiations commenced. On November 2, 1999, the parties executed and
filed a  Stipulation  of  Settlement,  settling  claims,  subject to final court
approval, on behalf of the Partnership and all limited partners who own units as
of November 3, 1999.  Preliminary  approval of the  settlement  was  obtained on
November 3, 1999 from the Superior Court of the State of  California,  County of
San Mateo, at which time the Court set a final approval hearing for December 10,
1999.  Prior to the  December  10,  1999  hearing  the  Court  received  various
objections to the settlement,  including a challenge to the Court's  preliminary
approval based upon the alleged lack of authority of class  plaintiffs'  counsel
to enter the settlement. On December 14, 1999, the Corporate General Partner and
its affiliates terminated the proposed settlement. Certain plaintiffs have filed
a motion to  disqualify  some of the  plaintiffs'  counsel  in the  action.  The
Corporate  General Partner does not anticipate  that costs  associated with this
case will be material to the Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.


<PAGE>

Item 2.     Management's Discussion and Analysis or Plan of Operation

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussion of the  Registrant's  business and results of  operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operations.  Accordingly,  actual  results  could differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's  investment properties consist of six apartment complexes. The
following  table sets forth the average  occupancy of the properties for each of
the two months ended December 31, 1999 and 1998:

                                                            Average
                                                           Occupancy

       Property                                        1999          1998
       --------                                        ----          ----

       Rocky Creek Apartments
         Augusta, Georgia                              92%            94%

       Carriage House Apartments
         Gastonia, North Carolina (1)                  93%            90%

       Nottingham Square Apartments
         Des Moines, Iowa (1)                          97%            90%

       Foxfire/Barcelona Apartments
         Durham, North Carolina (2)                    92%            97%

       River Reach Apartments
         Jacksonville, Florida                         95%            94%

       Village Gardens Apartments
         Fort Collins, Colorado (3)                    96%            99%

(1)   The  increase  in average  occupancy  at  Carriage  House  Apartments  and
      Nottingham  Square  Apartments  is  due  to a  more  aggressive  marketing
      campaign during 1999.

(2)   The decrease in average occupancy at  Foxfire/Barcelona  Apartments is due
      to the  renting,  during  the two  months  ended  December  31,  1998,  of
      corporate units to a construction  company that was building a hospital in
      the area.

(3)   The decrease in average occupancy at Village Gardens Apartments is due to
      a change in demographics of the market area.

Results of Operations

The Partnership realized net income of approximately $340,000 for the two months
ended December 31, 1999,  compared to net income of  approximately  $411,000 for
the  corresponding  period in 1998. The decrease in net income for the two month
period ended December 31, 1999, is primarily attributable to a cumulative effect
on prior  years of a change in  accounting  principle  as of  December  31, 1998
partially  offset by an  increase  in total  revenues  and a  decrease  in total
expenses for the two months ended December 31, 1999.  Total  revenues  increased
during the two month period ended  December 31, 1999, as a result of an increase
in rental  income.  Rental  income  increased  due to the  increase  in  average
occupancy at three of the Partnership's six investment properties (see occupancy
discussion  above) and to the  increase  in average  rental  rates at all of the
properties.

The decrease in total  expenses  during the two month period ended  December 31,
1999 is attributable to a decrease in depreciation,  general and administrative,
interest,  and operating expenses.  Depreciation decreased due to several assets
at Rocky  Creek  and  Village  Gardens  being  fully  depreciated.  General  and
administrative  expenses  decreased due to a decrease in  reimbursements  to the
Corporate General Partner and audit fees. Included in general and administrative
expenses at both December 31, 1999 and 1998, are reimbursements to the Corporate
General  Partner  allowed under the  Partnership  Agreement  associated with the
quarterly and annual  communications  with investors and regulatory agencies and
the annual audit and appraisals  required by the Partnership  Agreement are also
included.  Interest  expense  decreased as a result of principal  payments being
made on the debt  encumbering  all of the  Partnership's  properties.  Operating
expenses decreased primarily due to decreases in interior building  improvements
and major landscaping  partially offset by increased water and sewer expenses at
Nottingham Square.

During the two months ended December 31, 1999 (effective  November 1, 1998), the
Partnership  changed its method of accounting to capitalize the cost of exterior
painting and major  landscaping.  The Partnership  believes that this accounting
principle change is preferable because it provides a better matching of expenses
with the related benefit of the  expenditures and it is consistent with industry
practice and the policies of the Corporate  General  Partner.  The effect of the
change for the two months ended December 31, 1998 was to decrease  income before
the change by  approximately  $13,000 ($.31 per limited  partnership  unit). The
cumulative effect adjustment of approximately $253,000 is the result of applying
retroactively the aforementioned  accounting principle change and is included in
income for the two months ended December 31, 1998.  The  accounting  change will
not have an  affect on cash  flow,  funds  available  for  distribution  or fees
payable to the Corporate General Partner and affiliates.

As part of the ongoing business plan of the Partnership,  the Corporate  General
Partner  monitors  the  rental  market  environment  of each  of its  investment
properties  to assess  the  feasibility  of  increasing  rents,  maintaining  or
increasing  occupancy  levels and protecting the  Partnership  from increases in
expenses.  As part of this plan,  the  Corporate  General  Partner  attempts  to
protect  the  Partnership  from the  burden of  inflation-related  increases  in
expenses by increasing  rents and  maintaining a high overall  occupancy  level.
However,  due to  changing  market  conditions,  which can  result in the use of
rental  concessions and rental reductions to offset softening market conditions,
there is no guarantee that the Corporate General Partner will be able to sustain
such a plan.

Liquidity and Capital Resources

At  December  31,  1999,  the  Partnership  had  cash and  cash  equivalents  of
approximately $2,901,000 as compared to approximately $1,323,000 at December 31,
1998.  Cash and cash  equivalents  increased  approximately  $88,000 for the two
months  ended  December  31, 1999 from the  Partnership's  prior  fiscal year of
October 31, 1999.  The increase was due to  approximately  $88,000 and is due to
approximately  $585,000 of cash provided by operating  activities largely offset
by approximately $338,000 of cash used in investing activities and approximately
$159,000 of cash used in financing activities. Cash used in investing activities
consisted  of  property  improvements  and  replacements  and  net  deposits  to
restricted  escrows  maintained by the mortgage  lender.  Cash used in financing
activities consisted of payments of principal made on the mortgages  encumbering
the Registrant's properties. The Registrant invests its working capital reserves
in money market accounts.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the investment  properties to adequately  maintain the
physical  assets and other operating needs of the Partnership and to comply with
Federal, state, local, legal, and regulatory requirements.  Capital improvements
planned for each of the Registrant's properties are detailed below.

Rocky Creek

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately   $28,000  for  capital  improvements  at  Rocky  Creek  primarily
consisting of floor covering and parking lot improvements. The improvements were
funded  from  Partnership  operating  cash  and  reserves.  The  Partnership  is
currently  evaluating  the capital  improvement  needs of the  property  for the
upcoming year.  The minimum amount to be budgeted  during the calendar year 2000
is  expected  to  be  $300  per  unit  or  approximately   $36,000.   Additional
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

Carriage House

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately  $68,000 for capital  improvements  at  Carriage  House  primarily
consisting of pool  improvements,  electrical  upgrades,  and  carpeting.  These
improvements  were funded from  Partnership  operating  cash and  reserves.  The
Partnership  is  currently  evaluating  the  capital  improvement  needs  of the
property for the upcoming  year.  The minimum  amount to be budgeted  during the
calendar  year 2000 is  expected to be $300 per unit or  approximately  $31,000.
Additional  improvements  may be  considered  and will  depend  on the  physical
condition of the property as well as replacement  reserves and anticipated  cash
flow generated by the property.

Nottingham Square

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately  $30,000 for capital  improvements at Nottingham  Square primarily
consisting  of  floor  covering,  other  improvements,  and pool  upgrades.  The
Partnership  is  currently  evaluating  the  capital  improvement  needs  of the
property for the upcoming  year.  The minimum  amount to be budgeted  during the
calendar  year 2000 is expected to be $300 per unit or  approximately  $133,000.
Additional  improvements  may be  considered  and will  depend  on the  physical
condition of the property as well as replacement  reserves and anticipated  cash
flow generated by the property.

Foxfire/Barcelona

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately  $104,000 for capital improvements at Foxfire/Barcelona  primarily
consisting  of  electrical  upgrades,  other  building  improvements,  and floor
covering.  The Partnership is currently evaluating the capital improvement needs
of the property for the upcoming year. The minimum amount to be budgeted  during
the  calendar  year  2000 is  expected  to be  $300  per  unit or  approximately
$106,000.  Additional  improvements  may be  considered  and will  depend on the
physical  condition  of  the  property  as  well  as  replacement  reserves  and
anticipated cash flow generated by the property.

River Reach

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately   $63,000  for  capital  improvements  at  River  Reach  primarily
consisting of roof  replacements  and floor covering.  These  improvements  were
funded  from  Partnership  operating  cash  and  reserves.  The  Partnership  is
currently  evaluating  the capital  improvement  needs of the  property  for the
upcoming year.  The minimum amount to be budgeted  during the calendar year 2000
is  expected  to  be  $300  per  unit  or  approximately   $89,000.   Additional
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

Village Gardens

During  the two  months  ended  December  31,  1999,  the  Partnership  expended
approximately  $35,000 for capital  improvements  at Village  Gardens  primarily
consisting of other  enhancements and floor covering.  These  improvements  were
funded  from  Partnership  operating  cash  and  reserves.  The  Partnership  is
currently  evaluating  the capital  improvement  needs of the  property  for the
upcoming year.  The minimum amount to be budgeted  during the calendar year 2000
is  expected  to  be  $300  per  unit  or  approximately   $42,000.   Additional
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

The additional  capital  expenditures will be incurred only if cash is available
from  operations  and  Partnership  reserves.  To the extent that such  budgeted
capital improvements are completed, the Registrant's distributable cash flow, if
any, may be adversely affected at least in the short term.

The Partnership's  current assets are thought to be sufficient for any near term
needs  (exclusive  of capital  improvements)  of the  Partnership.  The mortgage
indebtedness of approximately $25,302,000,  net of discounts, is being amortized
over 257 months  with a balloon  payment  of  approximately  $23,008,000  due on
November 15, 2002. The Corporate  General Partner will attempt to refinance such
indebtedness  and/or sell the  properties  prior to such  maturity  date. If the
properties cannot be refinanced or sold for a sufficient amount, the Partnership
will risk losing such properties through foreclosure.

During the two months ended December 31, 1999, a  distribution  was approved for
approximately $428,000 (approximately  $424,000 to the limited partners,  $10.02
per limited  partnership  unit) from  operations.  The  distribution was paid in
January 2000. A cash  distribution of  approximately  $2,100,000 was paid to the
partners during the two months ended December 31, 1998. Approximately $1,412,000
($33.36 per limited partnership unit) was paid from the previously undistributed
proceeds of a 1995 property sale and approximately  $688,000 ($16.09 per limited
partnership  unit) was paid from  operations.  Future  cash  distributions  will
depend on the levels of net cash generated from operations,  the availability of
cash reserves, and the timing of debt maturities,  refinancings, and/or property
sales. The Partnership's distribution policy is reviewed on a semi-annual basis.
There  can  be  no  assurance,  however,  that  the  Partnership  will  generate
sufficient funds from operations, after required capital improvements, to permit
further distributions to its partners in fiscal year 2000 or subsequent periods.

Tender Offers

Several tender offers were made by various parties,  including affiliates of the
general  partners,  during the two months ended December 31, 1999 and the fiscal
years ended October 31, 1999 and 1998. As a result of these tender offers, AIMCO
and it affiliates  currently owns 23,628 units of limited  partnership  units in
the Partnership  representing  55.83% of the  outstanding  units. It is possible
that AIMCO or its affiliates will make one or more additional  offers to acquire
additional  limited  partnership  interests  in the  Partnership  for cash or in
exchange for units in the operating partnership of AIMCO. Consequently, AIMCO is
in a position to influence all voting  decisions with respect to the Registrant.
Under the Partnership Agreement, unitholders holding a majority of the Units are
entitled  to take action  with  respect to a variety of matters.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable  to the interest of the  Corporate  General  Partner  because of their
affiliation with the Corporate General Partner.

Year 2000 Compliance

General Description

The Year 2000 issue is the result of computer  programs  being written using two
digits rather than four digits to define the applicable year. The Partnership is
dependent upon the Corporate  General  Partner and its affiliates for management
and  administrative  services  ("Managing  Agent").  Any of the Managing Agent's
computer programs or hardware that had date-sensitive software or embedded chips
might have  recognized  a date using "00" as the year 1900  rather than the year
2000.  This could have resulted in a system failure or  miscalculations  causing
disruptions of operations,  including, among other things, a temporary inability
to process  transactions,  send invoices,  or engage in similar normal  business
activities.

Computer Hardware, Software and Operating Equipment

In 1999,  the Managing  Agent  completed  all phases of its Year 2000 program by
completing  the  replacement  and repair of any  hardware or software  system or
operating  equipment that was not yet Year 2000 compliant.  The Managing Agent's
hardware  and software  systems and its  operating  equipment  are now Year 2000
compliant.  As of February 11, 2000,  no material  failure or erroneous  results
have  occurred in the  Managing  Agent's  computer  applications  related to the
failure to reference the Year 2000.

Third Parties

To  date,  the  Managing  Agent  is not  aware of any  significant  supplier  or
subcontractor  (external agent) or financial institution of the Partnership that
has a Year 2000 issue that  would  have a material  impact on the  Partnership's
results of operations,  liquidity or capital  resources.  However,  the Managing
Agent  has no means of  ensuring  or  determining  the Year 2000  compliance  of
external  agents.  At this time, the Managing Agent does not believe that a Year
2000 issue of any  non-compliant  external agent will have a material  impact on
the Partnership's financial position or results of operations.

Costs

The total cost of the Managing Agent's Year 2000 project was approximately  $3.2
million and was funded from operating cash flows.

Risks Associated with the Year 2000

The Managing  Agent  completed all necessary  phases of its Year 2000 program in
1999,  and did not  experience  system or  equipment  malfunctions  related to a
failure to reference the Year 2000. The Managing  Agent or Partnership  have not
been  materially  adversely  effected by  disruptions  in the economy  generally
resulting from the Year 2000 issue.

At this  time,  the  Managing  Agent  does not  believe  that the  Partnership's
businesses,  results of  operations  or financial  condition  will be materially
adversely effected by the Year 2000 issue.

Contingency Plans Associated with the Year 2000

The  Managing  Agent has not had to implement  contingency  plans such as manual
workarounds or selecting new relationships for its banking or elevator operation
activities in order to avoid the Year 2000 issue.


<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the Partnership,  the Corporate  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Note B - Transfer  of  Control").  The  plaintiffs  seek  monetary  damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Corporate  General  Partner filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended complaint.  The Corporate General Partner filed demurrers to the amended
complaint which were heard February 1999.  Pending the ruling on such demurrers,
settlement negotiations commenced. On November 2, 1999, the parties executed and
filed a Stipulation of Settlement  ("Stipulation"),  settling claims, subject to
final court approval,  on behalf of the Partnership and all limited partners who
own units as of November 3, 1999.  Preliminary  approval of the  settlement  was
obtained on November 3, 1999 from the Superior Court of the State of California,
County of San Mateo,  at which time the Court set a final  approval  hearing for
December  10, 1999.  Prior to the  December 10, 1999 hearing the Court  received
various  objections  to the  settlement,  including a  challenge  to the Court's
preliminary  approval  based  upon  the  alleged  lack  of  authority  of  class
plaintiffs' counsel to enter the settlement. On December 14, 1999, the Corporate
General Partner and its affiliates  terminated the proposed settlement.  Certain
plaintiffs have filed a motion to disqualify some of the plaintiffs'  counsel in
the  action.  The  Corporate  General  Partner  does not  anticipate  that costs
associated  with  this  case  will  be  material  to the  Partnership's  overall
operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 27, Financial Data Schedule, is filed as an exhibit to
                  this report.

            b)    Reports on Form 8-K filed:

                  None filed during the two months ended December 31, 1999.


<PAGE>


                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                              SHELTER PROPERTIES VI

                                 By:     Shelter Realty VI Corporation
                                         Corporate General Partner

                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President and Director

                                 By:     /s/Martha L. Long
                                         Martha L. Long
                                         Senior Vice President
                                         and Controller

                                 Date:   February 14, 2000