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Restricted Cash (Tables) | 3 Months Ended
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Mar. 31, 2017
Cash and Cash Equivalents [Abstract] |
Schedule of Restricted Cash | As of March 31, 2017 and December 31, 2016, the balances in our restricted cash accounts are as set forth in the table below. At December 31, 2016, no amounts were funded to the completion, renovation, leasing commission, debt service, termination fee, and nonconforming property reserve accounts as the conditions specified in the credit facility agreements that require such funding did not exist, and none are required at March 31, 2017 as the credit facilities had been repaid in full.
|  | March 31, 2017 |  | December 31, 2016
Resident security deposits |  | $ | 91,452 |  |  | $ | 86,239 |
Collections |  | 18,134 |  |  | 42,767 |
Property taxes |  | 24,995 |  |  | 52,256 |
Insurance premium and deductible |  | — |  |  | 4,432 |
Standing and capital expenditure reserves |  | 6,115 |  |  | 24,409 |
Special reserves |  | — |  |  | 34 |
Eligibility reserves |  | 254 |  |  | 9,274 |
Letters of credit |  | 3,219 |  |  | 2,681 |
Total |  | $ | 144,169 |  |  | $ | 222,092 |

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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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