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Investments in Single-Family Residential Properties | 9 Months Ended
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Sep. 30, 2020
Real Estate [Abstract] |
Investments in Single-Family Residential Properties | Note 3—Investments in Single-Family Residential Properties The following table sets forth the net carrying amount associated with our properties by component:
|  | September 30, 2020 |  | December 31, 2019
Land |  | $ | 4,501,831 |  |  | $ | 4,499,346 |
Single-family residential property |  | 13,386,936 |  |  | 13,121,179 |
Capital improvements |  | 511,034 |  |  | 513,269 |
Equipment |  | 113,359 |  |  | 113,370 |
Total gross investments in the properties |  | 18,513,160 |  |  | 18,247,164 |
Less: accumulated depreciation |  | (2,381,059) |  |  | (2,003,972) |
Investments in single-family residential properties, net |  | $ | 16,132,101 |  |  | $ | 16,243,192 |
As of September 30, 2020 and December 31, 2019, the carrying amount of the residential properties above includes $119,292 and $119,608, respectively, of capitalized acquisition costs (excluding purchase price), along with $67,483 and $65,747, respectively, of capitalized interest, $26,541 and $25,565, respectively, of capitalized property taxes, $4,639 and $4,616, respectively, of capitalized insurance, and $3,023 and $2,836, respectively, of capitalized homeowners’ association (“HOA”) fees. During the three months ended September 30, 2020 and 2019, we recognized $136,517 and $132,266, respectively, of depreciation expense related to the components of the properties, and $1,630 and $1,049, respectively, of depreciation and amortization related to corporate furniture and equipment. These amounts are included in depreciation and amortization in the condensed consolidated statements of operations. Further, during the three months ended September 30, 2020 and 2019, impairments totaling $289 and $3,960, respectively, have been recognized and are included in impairment and other in the condensed consolidated statements of operations. See Note 11 for additional information regarding these impairments. During the nine months ended September 30, 2020 and 2019, we recognized $406,078 and $396,568, respectively, of depreciation expense related to the components of the properties and $4,362 and $3,387, respectively, of depreciation and amortization related to corporate furniture and equipment. These amounts are included in depreciation and amortization in the condensed consolidated statements of operations. Further, during the nine months ended September 30, 2020 and 2019, impairments totaling $4,202 and $11,289, respectively, have been recognized and are included in impairment and other in the condensed consolidated statements of operations. See Note 11 for additional information regarding these impairments.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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