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

                    For the quarterly period ended June 30, 2001

[ ] 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 0-13261


                              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  Exchange  Act during the past 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___



                         PART I - FINANCIAL INFORMATION



ITEM 1.     FINANCIAL STATEMENTS


a)

                              SHELTER PROPERTIES VI
                                  BALANCE SHEET
                                   (Unaudited)
                          (in thousands, except unit data)

                                  June 30, 2001

<TABLE>
<CAPTION>


Assets
<S>                                                           <C>            <C>
   Cash and cash equivalents                                                 $   708
   Receivables and deposits                                                      126
   Restricted escrows                                                            954
   Other assets                                                                  349
   Investment properties:
      Land                                                    $  3,759
      Buildings and related personal property                   40,902
                                                                44,661
      Less accumulated depreciation                            (25,440)       19,221
                                                                            $ 21,358

Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                         $    181
   Tenant security deposit liabilities                                           169
   Accrued property taxes                                                        651
   Other liabilities                                                             612
   Mortgage notes payable                                                     21,388

Partners' Deficit
   General partners                                            $ (260)
   Limited partners (42,324 units issued and
      outstanding)                                              (1,383)       (1,643)
                                                                            $ 21,358


                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>




b)

                              SHELTER PROPERTIES VI
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
                        (in thousands, except per unit data)

<TABLE>
<CAPTION>


                                       Three Months Ended         Six Months Ended
                                            June 30,                  June 30,
                                       2001         2000          2001         2000
Revenues:
<S>                                  <C>          <C>          <C>           <C>
   Rental income                     $ 2,045      $ 2,633      $ 4,088       $ 5,230
   Other income                          222          217          467           391
       Total revenues                  2,267        2,850        4,555         5,621

Expenses:
   Operating                             901        1,131        1,661         2,279
   General and administrative            124           93          234           201
   Depreciation                          447          475          891         1,088
   Interest                              454          561          928         1,159
   Property taxes                        211          246          419           531
       Total expenses                  2,137        2,506        4,133         5,258

 Net income                          $   130      $   344      $   422       $   363

Net income allocated
   to general partners (1%)          $     1      $     3      $     4       $     4
Net income allocated
   to limited partners (99%)             129          341          418           359

                                     $   130      $   344      $   422       $   363

Net income per limited
   partnership unit                  $  3.05      $  8.06      $  9.88       $  8.48

Distribution per limited
   partnership unit                  $ 21.55      $ 44.91      $ 71.90       $ 44.91


                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>


c)

                               SHELTER PROPERTIES VI
                STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)
                          (in thousands, except unit data)


<TABLE>
<CAPTION>

                                      Limited
                                     Partnership     General      Limited
                                        Units        Partners    Partners     Total

<S>                                     <C>            <C>        <C>        <C>
Original capital contributions          42,324        $    2      $42,324    $42,326

Partners' (deficit) capital at
   December 31, 2000                    42,324        $ (246)     $ 1,242    $   996

Distributions to partners                                (18)      (3,043)    (3,061)

Net income for the six months
   ended June 30, 2001                      --             4          418        422

Partners' deficit at
   June 30, 2001                        42,324        $ (260)     $(1,383)   $(1,643)


                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>


d)

                              SHELTER PROPERTIES VI
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                  (in thousands)

<TABLE>
<CAPTION>

                                                                  Six Months Ended
                                                                      June 30,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                           <C>          <C>
   Net income                                                 $   422      $   363
   Adjustments to reconcile net income to net
     cash provided by operating activities:
        Depreciation                                              891        1,088
        Amortization of discounts and loan costs                  107          182
        Change in accounts:
            Receivables and deposits                              545          380
            Other assets                                          (83)         (13)
            Accounts payable                                       21          (53)
            Tenant security deposit liabilities                     4           (4)
            Accrued property taxes                                 97           55
            Other liabilities                                      26            1

               Net cash provided by operating activities        2,030        1,999

Cash flows from investing activities:
   Property improvements and replacements                        (739)        (343)
   Net withdrawals from (deposits to) restricted escrows          117         (627)

               Net cash used in investing activities             (622)        (970)

Cash flows from financing activities:
   Payments on mortgage notes payable                            (419)        (502)
   Distribution paid to partners                               (3,061)      (2,348)

               Net cash used in financing activities           (3,480)      (2,850)

Net decrease in cash and cash equivalents                      (2,072)      (1,821)
Cash and cash equivalents at beginning of period                2,780        2,901
Cash and cash equivalents at end of period                    $   708      $ 1,080

Supplemental disclosure of cash flow information:
   Cash paid for interest                                     $   797      $   977

At December 31, 2000 accounts  payable and fixed assets were  adjusted  $265,000
for non-cash activity.

Distributions  paid to partners  include  $428,000 which was accrued at December
31, 1999 and paid during January 2000.


                   See Accompanying Notes to Financial Statements
</TABLE>

<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.  The general
partner  responsible  for  management of the  Partnership's  business is Shelter
Realty VI Corporation ("the Corporate General  Partner").  The Corporate General
Partner  is  a  subsidiary  of  Apartment   Investment  and  Management  Company
("AIMCO"), a publicly traded real estate investment trust. In the opinion of the
Corporate  General  Partner,  all  adjustments  (consisting of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating  results for the three and six month periods ended June 30, 2001,  are
not  necessarily  indicative  of the results that may be expected for the fiscal
year ending December 31, 2001. 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 December 31, 2000.

Segment   Reporting:   Statement  of  Financial   Standards  ("SFAS")  No.  131,
"Disclosure about Segments of an Enterprise and Related Information" established
standards for the way that public business  enterprises report information about
operating  segments  in annual  financial  statements  and  required  that those
enterprises  report selected  information  about  operating  segments in interim
financial reports.  It also established  standards for related disclosures about
products and services, geographic areas, and major customers. As defined in SFAS
No. 131, the Partnership has only one reportable segment.  The Corporate General
Partner  believes  that  segment-based  disclosures  will not  result  in a more
meaningful presentation than the financial statements as currently presented.

Note B - 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
provided  by  operations",  as  defined  in  the  partnership  agreement  of the
Partnership  (the  "Partnership  Agreement").  However,  "net cash  provided  by
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.

<TABLE>
<CAPTION>

                                                            Six Months Ended
                                                                June 30,
                                                          2001             2000
                                                             (in thousands)
<S>                                                      <C>              <C>
     Net cash provided by operating activities           $ 2,030          $ 1,999
        Payments on mortgage notes payable                  (419)            (502)
        Property improvements and replacements              (739)            (343)
        Change in restricted escrows, net                    117             (627)
        Changes in reserves for net operating
           liabilities                                      (610)            (366)
        Change in additional reserves                       (379)            (161)

           Net cash provided by operations               $    --          $    --
</TABLE>

The  Corporate  General  Partner  believed it to be in the best  interest of the
Partnership to reserve net cash from  operations of  approximately  $379,000 and
$161,000 at June 30, 2001 and 2000,  respectively,  to fund  continuing  capital
improvements and repairs at the Partnership's investment properties.

Note C - 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 (i) certain
payments to affiliates for services and (ii)  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 incurred for each
of the six months ended June 30, 2001 and 2000:

                                                         2001       2000
                                                          (in thousands)

         Property management fees (included in
           operating expenses)                           $229       $296
         Reimbursement for services of affiliates
           (included in general and administrative
           expenses and investment properties)            176        105

During the six months ended June 30, 2001 and 2000,  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  $229,000 and
$296,000 for the six months ended June 30, 2001 and 2000, respectively.

Affiliates  of  the  Corporate   General  Partner  received   reimbursements  of
accountable  administrative  expenses  amounting to  approximately  $176,000 and
$105,000 for the six months ended June 30, 2001 and 2000, respectively.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 26,750 limited partnership units in
the Partnership representing 63.20% of the outstanding units at June 30, 2001. A
number of these units were  acquired  pursuant to tender offers made by AIMCO or
its  affiliates.  It is  possible  that  AIMCO or its  affiliates  will  acquire
additional  limited  partnership  interests  in the  Partnership  for cash or in
exchange for units in the operating  partnership of AIMCO either through private
purchases or tender offers. Under the Partnership Agreement, unitholders holding
a majority of the Units are entitled to take action with respect to a variety of
matters, which would include without limitation, voting on certain amendments to
the Partnership Agreement and voting to remove the Corporate General Partner. As
a result of its  ownership  of 63.20% of the  outstanding  units,  AIMCO is in a
position to influence all voting decisions with respect to the Registrant.  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 its
affiliation with the Corporate General Partner.


<PAGE>


Note D - Distributions

During the six months ended June 30,  2001,  the  Partnership  declared and paid
distributions  of  approximately  $1,824,000  (approximately  $1,806,000  to the
limited partners,  $42.67 per limited  partnership unit) of cash from operations
and approximately $1,237,000 (approximately $29.23 per limited partnership unit)
all  to the  limited  partners  from  the  sale  proceeds  of  Foxfire/Barcelona
Apartments which sold in November 2000. During the two months ended December 31,
1999,  a  distribution  was  approved  and  accrued for  approximately  $428,000
(approximately $424,000 to the limited partners,  $10.02 per limited partnership
unit) from  operations.  The  distribution  was paid during the six months ended
June 30, 2000.  During the six months ended June 30, 2000, the Partnership  paid
distributions  of  approximately  $1,920,000  ($1,901,000  paid  to the  limited
partners or $44.91 per limited partnership unit).

Note E - Change in Accounting Estimate

During the six months ended June 30,  2001,  certain  accruals of  approximately
$132,000  established  related to the sale of  Foxfire/Barcelona  Apartments  in
November  2000 were  reversed due to actual  costs being less than  anticipated.
This accrual  reversal is included as a reduction  of operating  expenses in the
six month period ended June 30, 2001.

Note F - 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,  its 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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the Insignia  affiliates;  and the series of  transactions
which  closed on October 1, 1998 and  February  26, 1999  whereby  Insignia  and
Insignia Properties Trust, respectively,  were merged into AIMCO. 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  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 court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  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 prior lead counsel to enter the settlement.  On
December 14, 1999, the Corporate  General Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Corporate  General  Partner and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August  16,  2001 to file a fourth  amended  complaint.  The  Corporate  General
Partner does not anticipate that any costs,  whether legal or settlement  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 five apartment complexes. The
following  table sets forth the average  occupancy of the properties for each of
the six months ended June 30, 2001 and 2000:

                                                            Average
                                                           Occupancy
       Property                                        2001          2000

       Rocky Creek Apartments
         Augusta, Georgia                              97%            92%

       Carriage House Apartments
         Gastonia, North Carolina                      86%            95%

       Nottingham Square Apartments
         Des Moines, Iowa                              94%            97%

       River Reach Apartments
         Jacksonville, Florida                         96%            96%

       Village Gardens Apartments
         Fort Collins, Colorado                        95%            96%

The increase in average  occupancy at Rocky Creek  Apartments is attributed to a
more  aggressive  marketing  campaign.  The  decrease  in average  occupancy  at
Carriage House Apartments and Nottingham Square Apartments is due to a change in
demographics of the market areas in which the investment  properties compete and
lower interest rates for home buyers.

Results of Operations

The  Partnership's  net income for the six months ended June 30,  2001,  totaled
approximately  $422,000 as compared to net income of approximately  $363,000 for
the six months ended June 30, 2000. The Partnership  realized net income for the
three months  ended June 30, 2001,  of  approximately  $130,000  compared to net
income of  approximately  $344,000 for the three months ended June 30, 2000. The
increase in net income for the six months ended June 30, 2001 is attributable to
a decrease in total expenses,  partially offset by a decrease in total revenues.
The  decrease  in net  income  for the  three  months  ended  June  30,  2001 is
attributable to a decrease in total revenues,  partially offset by a decrease in
total  expenses.  The decrease in both total revenues and total expenses for the
three  and six  months  ended  June  30,  2001 is  primarily  due to the sale of
Foxfire/Barcelona  Apartments during November 2000.  Excluding the impact of the
reversal  of  $132,000  in  accruals  related  to the sale of  Foxfire/Barcelona
Apartments  for the six  months  ended  June  30,  2001  and the  impact  of the
operations of  Foxfire/Barcelona  Apartments  for the three and six months ended
June 30, 2000, the Partnership had net income for the three and six months ended
June 30, 2001 of approximately $130,000 and $290,000,  respectively,  versus net
income of approximately $184,000 and $223,000 for the three and six months ended
June 30, 2000, respectively.

The  decrease  in net  income  for the  three  months  ended  June  30,  2001 is
attributable to an increase in total expenses,  partially  offset by an increase
in total  revenues.  Total  expenses  increased  primarily due to an increase in
depreciation  expense  and  interest  expense  which was  partially  offset by a
decrease in operating expense. The increase in depreciation expense is primarily
due to capital  improvements  placed in service during the last twelve months at
the Partnership's investment properties.  Interest expense increased as a result
of the refinancing of the mortgage encumbering Village Gardens Apartments during
December 2000. Operating expense decreased for the three months as a result of a
decrease  in  property  expenses  which was  partially  offset by an increase in
insurance expense.  Insurance expense increased  primarily due to an increase in
hazard insurance at Nottingham  Square Apartments and River Reach Apartments due
to an increase in  insurance  premiums.  Property  expenses  decreased  due to a
decrease in employee salaries and related benefits at the investment properties.
Total  revenues  increased  primarily due to an increase in other income.  Other
income increased  primarily due to an increase in utility  reimbursements  being
charged at the investment properties, partially offset by a decrease in interest
income as a result of lower cash balances in interest bearing accounts.

The  increase  in net  income  for  the  six  months  ended  June  30,  2001  is
attributable to an increase in total revenues,  partially  offset by an increase
in total  expenses.  Total  revenues  increased  primarily due to an increase in
other income and an increase in rental  income.  The increase in other income is
primarily the result of an increase in utility  reimbursements  being charged at
the investment properties. Rental income increased due to an increase in average
rental rates at four of the Registrant's investment properties,  which more than
offset the decrease in occupancy at Carriage House Apartments, Nottingham Square
Apartments and Village Gardens  Apartments.  Total expenses increased  primarily
due to an increase  in  operating  expense,  depreciation  expense and  interest
expense.  Operating  expense  increased  as a result of an  increase in property
expense and insurance  expense which more than offset a decrease in  maintenance
expense.  Property  expenses  increased  due to an increase in utility  expenses
including gas and sewer  expenses at the  Partnership's  investment  properties.
Insurance  expense  increased as a result of an increase in  insurance  premiums
primarily at Nottingham Square  Apartments and River Reach Apartments.  Interest
expense  increased as discussed above.  The increase in depreciation  expense is
primarily due to capital  improvements  placed in service during the last twelve
months at the Partnership's investment properties.

General and administrative expenses increased for the three and six months ended
June 30, 2001 as a result of an  increase  in the costs of services  included in
the management  reimbursements to the Corporate General Partner as allowed under
the Partnership  Agreement.  Included in general and administrative  expenses at
both June 30, 2001 and 2000, are costs  associated with the quarterly and annual
communications  with investors and regulatory  agencies and the annual audit and
appraisals required by the Partnership Agreement.

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 June 30, 2001, the Partnership had cash and cash equivalents of approximately
$708,000 as compared to approximately $1,080,000 at June 30, 2000. Cash and cash
equivalents decreased approximately $2,072,000 for the six months ended June 30,
2001 from the Partnership's  year end of December 31, 2000. The decrease was due
to   approximately   $3,480,000  of  cash  used  in  financing   activities  and
approximately  $622,000 of cash used in investing activities which was partially
offset by  approximately  $2,030,000 of cash  provided by operating  activities.
Cash used in investing activities  consisted primarily of property  improvements
and replacements  which were partially offset by net withdrawals from restricted
escrows  maintained by the mortgage  lender.  Cash used in financing  activities
consisted  primarily  of  distributions  paid to the  partners  and, to a lesser
extent, payments of principal made on the mortgages encumbering the Registrant's
properties.  The  Registrant  invests its working  capital  reserves in interest
bearing 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  and  local  legal,   and  regulatory   requirements.   Capital
improvements planned for each of the Registrant's properties are detailed below.

Rocky Creek Apartments

During  the  six  months  ended  June  30,  2001,   the   Partnership   expended
approximately  $44,000 for  budgeted and non budgeted  capital  improvements  at
Rocky Creek  Apartments  primarily  consisting  of floor  covering and appliance
replacements,  and  plumbing  enhancements.  The  improvements  were funded from
Partnership  operating cash flow. Capital improvements of approximately  $36,000
have been  budgeted  for 2001 which  include,  but are not limited to,  plumbing
enhancements, and floor covering replacements.

Carriage House Apartments

During  the  six  months  ended  June  30,  2001,   the   Partnership   expended
approximately  $106,000 for budgeted and non budgeted  capital  improvements  at
Carriage House Apartments primarily  consisting of floor covering  replacements,
wall covering  replacements,  air  conditioning and plumbing  improvements,  and
interior decoration.  These improvements were funded from Partnership  operating
cash flow. Capital improvements of approximately  $38,000 have been budgeted for
2001 which  include,  but are not limited to, floor covering  replacements,  air
conditioning improvements, and interior decoration.

Nottingham Square Apartments

During  the  six  months  ended  June  30,  2001,   the   Partnership   expended
approximately  $121,000 for capital improvements at Nottingham Square Apartments
primarily  consisting  of floor  covering  and  appliance  replacements  and air
conditioning improvements,  and other building improvements.  These improvements
were  funded from  Partnership  operating  cash flow.  Capital  improvements  of
approximately  $513,000 have been budgeted for 2001 which  include,  but are not
limited to, floor covering and appliance  replacements,  HVAC unit upgrades, and
other building improvements.

River Reach Apartments

During  the  six  months  ended  June  30,  2001,   the   Partnership   expended
approximately  $187,000  for  capital  improvements  at River  Reach  Apartments
primarily  consisting  of floor  covering and appliance  replacements,  interior
decoration,  roof replacement,  and major  landscaping.  These improvements were
funded  from   Partnership   operating  cash  flow.   Capital   improvements  of
approximately  $839,000 have been budgeted for 2001 which included,  but are not
limited to, floor covering and appliance  replacements,  interior decoration and
HVAC unit upgrades.

Village Gardens Apartments

During  the  six  months  ended  June  30,  2001,   the   Partnership   expended
approximately  $16,000 for capital  improvements at Village  Gardens  Apartments
primarily  consisting of floor covering  replacements and parking area upgrades.
These  improvements  were funded from Partnership  operating cash flow.  Capital
improvements  of  approximately  $121,000  have  been  budgeted  for 2001  which
included,  but are not limited to, floor  covering and  appliance  replacements,
electrical improvements,  water heater replacements, and recreational facilities
upgrades.

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 $21,388,000,  net of discounts, has maturity dates
ranging from November 2002 to January 2021. The Corporate  General  Partner will
attempt to refinance such indebtedness  and/or sell the properties prior to such
maturity dates. If the properties  cannot be refinanced or sold for a sufficient
amount, the Partnership will risk losing such properties through foreclosure.

During the six months ended June 30,  2001,  the  Partnership  declared and paid
distributions  of  approximately  $1,824,000  (approximately  $1,806,000  to the
limited partners,  $42.67 per limited  partnership unit) of cash from operations
and approximately $1,237,000 (approximately $29.23 per limited partnership unit)
all  to the  limited  partners  from  the  sale  proceeds  of  Foxfire/Barcelona
Apartments which sold in November 2000. During the two months ended December 31,
1999,  a  distribution  was  approved  and  accrued for  approximately  $428,000
(approximately $424,000 to the limited partners,  $10.02 per limited partnership
unit) from  operations.  The  distribution  was paid during the six months ended
June 30, 2000.  During the six months ended June 30, 2000, the Partnership  paid
distributions  of  approximately  $1,920,000  ($1,901,000  paid  to the  limited
partners or $44.91 per limited partnership unit). 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 monthly basis. In
addition,  the Partnership is restricted from making distributions if the amount
in the reserve  account for each property  maintained by the mortgage lender for
four of the five  remaining  properties is less than $400 per apartment  unit at
each property.  At June 30, 2001, the reserve account was adequately funded with
a balance of approximately  $931,000.  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 during the
remainder of 2001 or subsequent periods.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 26,750 limited partnership units in
the Partnership representing 63.20% of the outstanding units at June 30, 2001. A
number of these units were  acquired  pursuant to tender offers made by AIMCO or
its  affiliates.  It is  possible  that  AIMCO or its  affiliates  will  acquire
additional  limited  partnership  interests  in the  Partnership  for cash or in
exchange for units in the operating  partnership of AIMCO either through private
purchases or tender offers. Under the Partnership Agreement, unitholders holding
a majority of the Units are entitled to take action with respect to a variety of
matters, which would include without limitation, voting on certain amendments to
the Partnership Agreement and voting to remove the Corporate General Partner. As
a result of its  ownership  of 63.20% of the  outstanding  units,  AIMCO is in a
position to influence all voting decisions with respect to the Registrant.  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 its
affiliation with the Corporate General Partner.


<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.     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,  its 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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the Insignia  affiliates;  and the series of  transactions
which  closed on October 1, 1998 and  February  26, 1999  whereby  Insignia  and
Insignia Properties Trust, respectively,  were merged into AIMCO. 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  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 court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  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 prior lead counsel to enter the settlement.  On
December 14, 1999, the Corporate  General Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Corporate  General  Partner and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August  16,  2001 to file a fourth  amended  complaint.  The  Corporate  General
Partner does not anticipate that any costs,  whether legal or settlement  costs,
associated  with  this  case  will  be  material  to the  Partnership's  overall
operations.


<PAGE>



ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b) Reports on Form 8-K filed during the quarter ended June 30, 2001:

                  None.


<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

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

                                 Date:   July 31, 2001