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Leases (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
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 nine months ended September 30, 2021 and 2020 (amounts in thousands):
|  | Nine Months Ended September 30, 2021 |  |  | Nine Months Ended September 30, 2020 |
Income Type |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |  |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |
Residential and non-residential rent |  | $ | 1,629,778 |  |  | $ | 45,680 |  |  | $ | 1,675,458 |  |  | $ | 1,783,298 |  |  | $ | 36,263 |  |  | $ | 1,819,561 |
Utility recoveries (RUBS income) (1) |  |  | 55,331 |  |  |  | 519 |  |  |  | 55,850 |  |  |  | 52,538 |  |  |  | 509 |  |  |  | 53,047 |
Parking rent |  |  | 30,403 |  |  |  | 465 |  |  |  | 30,868 |  |  |  | 29,052 |  |  |  | 324 |  |  |  | 29,376 |
Other lease revenue (2) |  |  | (19,442 | ) |  |  | 2,914 |  |  |  | (16,528 | ) |  |  | (19,000 | ) |  |  | (5,530 | ) |  |  | (24,530 | )
Total lease revenue |  | $ | 1,696,070 |  |  | $ | 49,578 |  |  |  | 1,745,648 |  |  | $ | 1,845,888 |  |  | $ | 31,566 |  |  |  | 1,877,454 |
Parking revenue |  |  |  |  |  |  |  |  |  |  | 18,455 |  |  |  |  |  |  |  |  |  |  |  | 16,648 |
Other revenue |  |  |  |  |  |  |  |  |  |  | 54,764 |  |  |  |  |  |  |  |  |  |  |  | 64,168 |
Total other rental income (3) |  |  |  |  |  |  |  |  |  |  | 73,219 |  |  |  |  |  |  |  |  |  |  |  | 80,816 |
Rental income |  |  |  |  |  |  |  |  |  | $ | 1,818,867 |  |  |  |  |  |  |  |  |  |  | $ | 1,958,270 |
(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.
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 September 30, 2021 and 2020 (amounts in thousands):
|  | Quarter Ended September 30, 2021 |  |  | Quarter Ended September 30, 2020 |
Income Type |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |  |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |
Residential and non-residential rent |  | $ | 551,474 |  |  | $ | 14,443 |  |  | $ | 565,917 |  |  | $ | 576,192 |  |  | $ | 6,042 |  |  | $ | 582,234 |
Utility recoveries (RUBS income) (1) |  |  | 18,798 |  |  |  | 189 |  |  |  | 18,987 |  |  |  | 17,306 |  |  |  | 134 |  |  |  | 17,440 |
Parking rent |  |  | 10,513 |  |  |  | 103 |  |  |  | 10,616 |  |  |  | 9,592 |  |  |  | 101 |  |  |  | 9,693 |
Other lease revenue (2) |  |  | (472 | ) |  |  | 1,776 |  |  |  | 1,304 |  |  |  | (12,727 | ) |  |  | (4,299 | ) |  |  | (17,026 | )
Total lease revenue |  | $ | 580,313 |  |  | $ | 16,511 |  |  |  | 596,824 |  |  | $ | 590,363 |  |  | $ | 1,978 |  |  |  | 592,341 |
Parking revenue |  |  |  |  |  |  |  |  |  |  | 6,883 |  |  |  |  |  |  |  |  |  |  |  | 5,336 |
Other revenue |  |  |  |  |  |  |  |  |  |  | 19,499 |  |  |  |  |  |  |  |  |  |  |  | 24,756 |
Total other rental income (3) |  |  |  |  |  |  |  |  |  |  | 26,382 |  |  |  |  |  |  |  |  |  |  |  | 30,092 |
Rental income |  |  |  |  |  |  |  |  |  | $ | 623,206 |  |  |  |  |  |  |  |  |  |  | $ | 622,433 |
(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 following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of September 30, 2021 and December 31, 2020 (amounts in thousands):
|  | Residential |  |  | Non-Residential |
Balance Sheet (Other assets): |  | September 30, 2021 |  |  | December 31, 2020 |  |  | September 30, 2021 |  |  | December 31, 2020 |
Resident/tenant accounts receivable balances |  | $ | 42,126 |  |  | $ | 30,856 |  |  | $ | 4,001 |  |  | $ | 7,598 |
Allowance for doubtful accounts |  |  | (37,669 | ) |  |  | (24,021 | ) |  |  | (3,442 | ) |  |  | (6,527 | )
Net receivable balances |  | $ | 4,457 |  | (1) | $ | 6,835 |  |  | $ | 559 |  |  | $ | 1,071 |
Straight-line receivable balances |  | $ | 12,650 |  |  | $ | 19,992 |  |  | $ | 12,759 |  |  | $ | 13,413 |
(1) | The Company held residential security deposits approximating 58.4% of the net receivable balance at September 30, 2021.
Summary of Residential Bad Debt for Company's Properties | The following table presents residential bad debt for the Company’s properties for the nine months and quarters ended September 30, 2021 and 2020 (amounts in thousands):
|  | Nine Months Ended September 30, |  |  | Quarter Ended September 30, |
Income Statement (Rental income): |  |  | 2021 |  |  |  | 2020 |  |  |  | 2021 |  |  |  | 2020 |
Bad debt, net (1) |  | $ | 29,751 |  |  | $ | 29,419 |  |  | $ | 3,979 |  |  | $ | 16,071 |
% of rental income |  |  | 1.7 | % |  |  | 1.5 | % |  |  | 0.7 | % |  |  | 2.6 | %
(1) | The nine months and quarter ended September 30, 2021 benefited from additional resident payments due to governmental rental assistance programs.

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