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Restricted and Escrow Deposits – Mortgage (Tables) | 3 Months Ended
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Mar. 31, 2017
Deposits Restricted [Abstract] |
Restricted Deposits | The following table presents the Company’s restricted deposits as of March 31, 2017 and December 31, 2016 (amounts in thousands):
|  | March 31, 2017 |  |  | December 31, 2016 |
Tax-deferred (1031) exchange proceeds |  | $ | 38,847 |  |  | $ | 38,847 |
Restricted deposits on real estate investments |  |  | 96 |  |  |  | 733 |
Resident security and utility deposits |  |  | 36,750 |  |  |  | 37,007 |
Other |  |  | 360 |  |  |  | 359 |
Totals |  | $ | 76,053 |  |  | $ | 76,946 |
Escrow Deposits for Mortgages | The following table presents the Company’s escrow deposits for mortgages as of March 31, 2017 and December 31, 2016 (amounts in thousands):
|  | March 31, 2017 |  |  | December 31, 2016 |
Real estate taxes and insurance |  | $ | 1,688 |  |  | $ | 2,003 |
Replacement reserves |  |  | 4,458 |  |  |  | 3,428 |
Mortgage principal reserves/sinking funds |  |  | 61,033 |  |  |  | 58,652 |
Other |  |  | 852 |  |  |  | 852 |
Totals |  | $ | 68,031 |  |  | $ | 64,935 |

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- Definition Deposits - restricted. + References No definition available. + Details
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- Definition The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes, insurance and replacement reserve obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. + References No definition available. + Details
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- Definition Tabular disclosure of the cash and cash items which are restricted as to withdrawal or usage. The provisions of any restrictions are described in a note to the financial statements. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016 + Details
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