Leases (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income

The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended March 31, 2021 and 2020 (amounts in thousands):

	Quarter Ended March 31, 2021								Quarter Ended March 31, 2020
Income Type	Residential Leases			Non-Residential Leases		Total			Residential Leases			Non-Residential Leases			Total
Residential and non-residential rent	$	539,655		$	15,839	$	555,494		$	612,480		$	18,094		$	630,574
Utility recoveries (RUBS income) (1)		17,954			178		18,132			17,418			228			17,646
Parking rent		9,734			267		10,001			9,833			97			9,930
Other lease revenue (2)		(10,262	)		609		(9,653	)		(213	)		(280	)		(493	)
Total lease revenue	$	557,081		$	16,893		573,974		$	639,518		$	18,139			657,657
Parking revenue							5,433									6,783
Other revenue							18,195									17,865
Total other rental income (3)							23,628									24,648
Rental income						$	597,602								$	682,305

(1)	RUBS income primarily consists of variable payments representing the recovery of utility costs from residents.

(2)	Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue.

(3)	Other rental income is accounted for under the revenue recognition standard.

Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances

The economic impact of the pandemic on a subset of our residents and tenants has led to elevated levels of bad debt. We continue to work with our residents and tenants on payment plans and collections and our bad debt allowance policies remain consistent.

The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of March 31, 2021 and December 31, 2020 (amounts in thousands):

	Residential							Non-Residential
Balance Sheet (Other assets):	March 31, 2021				December 31, 2020			March 31, 2021			December 31, 2020
Resident/tenant accounts receivable balances	$	37,248			$	30,856		$	6,847		$	7,598
Allowance for doubtful accounts		(31,799	)			(24,021	)		(5,724	)		(6,527	)
Net receivable balances	$	5,449		(1)	$	6,835		$	1,123		$	1,071

Straight-line receivable balances	$	25,360			$	19,992		$	13,409		$	13,413

(1)	The Company held residential security deposits approximating 35.4% of the net receivable balance at March 31, 2021.

Summary of Residential Bad Debt for Company's Properties

The following table presents residential bad debt for the Company’s properties for the quarters ended March 31, 2021 and 2020 (amounts in thousands):

	Quarter Ended March 31,
Income Statement (Rental income):		2021			2020
Bad debt, net	$	13,693		$	3,784
% of rental income		2.4	%		0.6	%