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 March 31, 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 per unit data)

                                 March 31, 2001

<TABLE>
<CAPTION>


Assets
<S>                                                           <C>           <C>
   Cash and cash equivalents                                                $  1,176
   Receivables and deposits                                                      131
   Restricted escrows                                                            833
   Other assets                                                                  393
   Investment properties:
      Land                                                    $  3,759
      Buildings and related personal property                   40,551
                                                                              44,310
      Less accumulated depreciation                            (24,993)       19,317
                                                                            $ 21,850

Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                          $   109
   Tenant security deposit liabilities                                           165
   Accrued property taxes                                                        469
   Other liabilities                                                             389
   Mortgage notes payable                                                     21,574

Partners' Deficit
   General partners                                            $ (256)
   Limited partners (42,324 units issued and
      outstanding)                                                (600)         (856)
                                                                            $ 21,850


                   See Accompanying Notes to Financial Statements
</TABLE>



<PAGE>




b)

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



                                                            Three Months Ended
                                                                March 31,
                                                             2001       2000
Revenues:
   Rental income                                            $2,043     $2,597
   Other income                                                245        174
      Total revenues                                         2,288      2,771

Expenses:
   Operating                                                   760      1,148
   General and administrative                                  110        108
   Depreciation                                                444        613
   Interest                                                    474        598
   Property taxes                                              208        285
      Total expenses                                         1,996      2,752

Net income                                                  $  292     $   19

Net income allocated to general partners (1%)               $    3     $   --
Net income allocated to limited partners (99%)                 289         19
                                                            $  292     $   19

Net income per limited partnership unit                     $ 6.83     $  .45

Distributions per limited partnership unit                  $50.35     $10.02


                   See Accompanying Notes to Financial Statements


<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                   --           (13)      (2,131)    (2,144)

Net income for the three months
   ended March 31, 2001                     --             3          289        292

Partners' (deficit) capital at
   March 31, 2001                       42,324        $ (256)     $ (600)     $ (856)


                   See Accompanying Notes to Financial Statements
</TABLE>


<PAGE>


d)

                              SHELTER PROPERTIES VI
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)
<TABLE>
<CAPTION>

                                                                 Three Months Ended
                                                                       March 31,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                           <C>          <C>
   Net income                                                 $   292      $    19
   Adjustments to reconcile net income to net
     cash provided by operating activities:
        Depreciation                                              444          613
        Amortization of discounts and loan costs                   55          100
        Change in accounts:
            Receivables and deposits                              540          391
            Other assets                                         (110)         (45)
            Accounts payable                                      (51)         (70)
            Tenant security deposit liabilities                    --           (4)
            Accrued property taxes                                (85)          54
            Other liabilities                                    (197)         (28)

               Net cash provided by operating activities          888        1,030

Cash flows from investing activities:
   Property improvements and replacements                        (388)        (142)
   Net withdrawals from (deposits to) restricted escrows          238         (341)

               Net cash used in investing activities             (150)        (483)

Cash flows from financing activities:
   Payments on mortgage notes payable                            (198)        (241)
   Distribution paid to partners                               (2,144)        (428)

               Net cash used in financing activities           (2,342)        (669)

Net decrease in cash and cash equivalents                      (1,604)        (122)
Cash and cash equivalents at beginning of period                2,780        2,901
Cash and cash equivalents at end of period                    $ 1,176      $ 2,779

Supplemental disclosure of cash flow information:
   Cash paid for interest                                     $   392      $   498

Supplemental disclosure of non-cash flow information:

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


                   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").  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 month period
ended March 31, 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  requires  that those
enterprises  report selected  information  about  operating  segments in interim
financial reports.  It also establishes  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 consolidated 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  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.

<TABLE>
<CAPTION>

                                                           Three Months Ended
                                                                March 31,
                                                          2001             2000
                                                             (in thousands)
<S>                                                       <C>             <C>
     Net cash provided by operating activities            $  888          $ 1,030
        Payments on mortgage notes payable                  (198)            (241)
        Property improvements and replacements              (388)            (142)
        Change in restricted escrows, net                    238             (341)
        Changes in reserves for net operating
           liabilities                                       (97)            (298)
        Change in additional reserves                        474               (8)

           Net cash provided by operations                $  917           $   --
</TABLE>

During the three months  ended March 31, 2001,  the  Corporate  General  Partner
released  previously  reserved funds of  approximately  $474,000.  The Corporate
General Partner reserved  approximately $8,000 at March 31, 2000 to fund capital
improvements and repairs at its 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 three months ended March 31, 2001 and 2000:

                                                         2001       2000
                                                          (in thousands)

         Property management fees (included in
           operating expenses)                           $115       $140
         Reimbursement for services of affiliates
           (included in general and administrative
           expenses and investment properties)             77         45

During  the three  months  ended  March 31,  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  $115,000 and
$140,000 for the three months ended March 31, 2001 and 2000, respectively.

Affiliates  of  the  Corporate   General  Partner  received   reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $77,000 and
$45,000 for the three months ended March 31, 2001 and 2000, respectively.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 26,626 limited partnership units in
the Partnership  representing  approximately  62.91% of the outstanding units at
March 31, 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 approximately  62.91%
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 their affiliation with the Corporate
General Partner.


<PAGE>



Note D - Distributions

During the three months ended March 31, 2001, the Partnership  declared and paid
approximately  $1,305,000  (approximately  $1,292,000  to the limited  partners,
$30.53 per limited partnership unit) from cash from operations and approximately
$839,000  (approximately $19.82 per limited partnership unit) all to the limited
partners from the sale proceeds of Foxfire/Barcelona  Apartments during November
2000.  During the three  months  ended March 31, 2000,  the  Partnership  paid a
distribution of approximately  $428,000  (approximately  $424,000 to the limited
partners, $10.02 per limited partnership unit) from cash from operations.

Subsequent to March 31, 2001, the  Partnership  declared and paid a distribution
of approximately $917,000  (approximately  $398,000 all to the limited partners,
$9.40 per limited  partnership  unit) from sales  proceeds of  Foxfire/Barcelona
Apartments and  approximately  $519,000  (approximately  $514,000 to the limited
partners or $12.14 per limited partnership unit) from cash from operations.

Note E - Change in Accounting Estimate

During the first  quarter  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 three month
period ended March 31, 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 Insignia  Merger.  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.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification  no later than June 15, 2001. 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 five apartment complexes. The
following  table sets forth the average  occupancy of the properties for each of
the three months ended March 31, 2001 and 2000:

                                                            Average
                                                           Occupancy
       Property                                        2001          2000

       Rocky Creek Apartments
         Augusta, Georgia                              97%            92%

       Carriage House Apartments
         Gastonia, North Carolina                      86%            93%

       Nottingham Square Apartments
         Des Moines, Iowa                              94%            97%

       River Reach Apartments
         Jacksonville, Florida                         97%            95%

       Village Gardens Apartments
         Fort Collins, Colorado                        95%            95%

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 had a net income of approximately  $292,000 for the three months
ended March 31, 2001,  versus net income of approximately  $19,000 for the three
months ended March 31, 2000.  The increase in net income is due to a decrease in
total expenses,  partially offset by an decrease in total revenues. The decrease
in both  total  expenses  and  total  revenues  is  largely  due to the  sale of
Foxfire/Barcelona  Apartments during November 2000.  Excluding the impact of the
operations of  Foxfire/Barcelona  Apartments,  the Partnership had net income of
approximately  $159,000 for the three  months  ended March 31, 2001,  versus net
income of  approximately  $39,000 for the three months ended March 31, 2000. The
increase  in  net  income  is  primarily  due  to the  reversal  of the  reserve
established  with the sale of  Foxfire/Barcelona  Apartments which was less than
anticipated  expenses.  The increase in net income is also due to an increase in
total revenues which more than offset a small increase in total expenses.  Total
revenues for the Partnership's remaining properties increased due to an increase
in rental income and other income. Rental income increased due to an increase in
average rental rates at all five of the Registrant's remaining properties, which
more than offset the  decrease in  occupancy at Carriage  House  Apartments  and
Nottingham  Square  Apartments.  Other  income  increased  primarily  due  to an
increase in tenant reimbursements being charged at the investment properties and
an increase in interest income as a result of higher average cash balances being
maintained in interest bearing accounts.

Total  expenses  on  the  remaining  properties  increased  primarily  due to an
increase in operating  expenses.  Operating  expense increased as a result of an
increase in property  expenses  which more than offset a decrease in maintenance
expense. Property expenses increased due to an increase in utilities expenses at
the Partnership's  investment  properties.  General and administrative  expenses
remained relatively constant for the comparative period. Included in general and
administrative  expenses at both March 31, 2000 and 2000, 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.

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  March  31,  2001,  the  Partnership   had  cash  and  cash   equivalents  of
approximately  $1,176,000 as compared to  approximately  $2,779,000 at March 31,
2000. Cash and cash equivalents decreased approximately $1,604,000 for the three
months  ended March 31,  2001 from the  Partnership's  year end of December  31,
2000. The decrease was due to approximately $2,342,000 of cash used in financing
activities  and  approximately  $150,000 of cash used in  investing  activities,
which was  partially  offset  by  approximately  $888,000  of cash  provided  by
operating  activities.  Cash used in financing activities consisted primarily of
distributions to partners, and to a lesser extent,  payments of principal on the
mortgages  encumbering  the  Partnership's  properties.  Cash used in  investing
activities  consisted  of  property  improvements  and  replacements  which were
partially  offset by  withdrawals  from  restricted  escrows  maintained  by the
mortgage lender. 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, local, legal, and regulatory requirements.  Capital improvements
planned for each of the Registrant's properties are detailed below.

Rocky Creek Apartments

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately  $25,000  for  capital  improvements  at  Rocky  Creek  Apartments
primarily consisting of floor covering  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 and appliance
replacements.

Carriage House Apartments

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately  $38,000 for capital  improvements  at Carriage  House  Apartments
primarily  consisting of floor covering  replacements  and interior  decoration.
These  improvements  were funded from Partnership  operating cash flow.  Capital
improvements of approximately $64,000 have been budgeted for 2001 which include,
but are not limited to floor  covering  replacements,  HVAC unit  upgrades,  and
interior decoration.

Nottingham Square Apartments

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately  $34,000 for capital  improvements at Nottingham Square Apartments
primarily  consisting of floor covering  replacements.  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  replacements,  HVAC  unit  upgrades  and  exterior
painting.

River Reach Apartments

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately  $22,000  for  capital  improvements  at  River  Reach  Apartments
primarily  consisting  of  floor  covering  and  appliance  replacements.  These
improvements were funded from Partnership  operating cash. Capital  improvements
of approximately $839,000 have been budgeted for 2001 which include, but are not
limited to floor covering and appliance  replacements,  interior  decoration and
HVAC unit upgrades.

Village Gardens Apartments

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately  $4,000 for capital  improvements  at Village  Gardens  Apartments
primarily  consisting of floor covering  replacements.  These  improvements were
funded from  Partnership  operating cash and reserves.  Capital  improvements of
approximately  $62,000 have been  budgeted for 2001 which  include,  but are not
limited to floor covering and appliance replacements,  electrical  improvements,
and water heater replacements.

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 $21,574,000,  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 date. If the  properties  cannot be refinanced or sold for a sufficient
amount, the Partnership will risk losing such properties through foreclosure.

During the three months ended March 31, 2001, the Partnership  declared and paid
approximately  $1,305,000  (approximately  $1,292,000  to the limited  partners,
$30.53 per limited partnership unit) from cash from operations and approximately
$839,000  (approximately $19.82 per limited partnership unit) all to the limited
partners from the sale proceeds of Foxfire/Barcelona  Apartments during November
2000.  During the three  months  ended March 31, 2000,  the  Partnership  paid a
distribution of approximately  $428,000  (approximately  $424,000 to the limited
partners,  $10.02  per  limited  partnership  unit)  from cash from  operations.
Subsequent to the three months ending March 31, 2001, the  Partnership  declared
and paid a distribution of approximately $917,000 (approximately $398,000 to the
limited  partners,  $9.40 per limited  partnership  unit) from sales proceeds of
Foxfire/Barcelona  Apartments and approximately $519,000 (approximately $514,000
to the limited partners or $12.14 per limited  partnership  unit) from cash 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 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 March 31,
2001, the reserve account was adequately  funded with a balance of approximately
$809,000. 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.


<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 Insignia  Merger.  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.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification  no later than June 15, 2001. The Corporate  General  Partner does
not  anticipate  that 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:

                  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:    May 9, 2001