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Investments in Single-Family Residential Properties
 9 Months Ended
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, 2020December 31, 2019
Land$4,501,831 $4,499,346 
Single-family residential property13,386,936 13,121,179 
Capital improvements511,034 513,269 
Equipment113,359 113,370 
Total gross investments in the properties18,513,160 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.