XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.23.3

Investments in Single-Family Residential Properties | 9 Months Ended
--- | ---
Sep. 30, 2023
Real Estate [Abstract] |
Investments in Single-Family Residential Properties | Investments in Single-Family Residential Properties The following table sets forth the net carrying amount associated with our properties by component:
|  | September 30, 2023 |  | December 31, 2022
Land |  | $ | 4,907,452 |  |  | $ | 4,800,110 |
Single-family residential property |  | 15,915,306 |  |  | 15,228,631 |
Capital improvements |  | 563,024 |  |  | 548,700 |
Equipment |  | 126,939 |  |  | 123,494 |
Total gross investments in the properties |  | 21,512,721 |  |  | 20,700,935 |
Less: accumulated depreciation |  | (4,112,685) |  |  | (3,670,561) |
Investments in single-family residential properties, net |  | $ | 17,400,036 |  |  | $ | 17,030,374 |
As of September 30, 2023 and December 31, 2022, the carrying amount of the residential properties above includes $134,275 and $129,341, respectively, of capitalized acquisition costs (excluding purchase price), along with $77,402 and $76,408, respectively, of capitalized interest, $30,691 and $30,435, respectively, of capitalized property taxes, $4,982 and $4,982, respectively, of capitalized insurance, and $3,663 and $3,627, respectively, of capitalized homeowners’ association (“HOA”) fees. During the three months ended September 30, 2023 and 2022, we recognized $167,921 and $158,199, respectively, of depreciation expense related to the components of the properties, and $2,775 and $2,229, 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, 2023 and 2022, impairments totaling $83 and $101, 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, 2023 and 2022, we recognized $493,027 and $468,272, respectively, of depreciation expense related to the components of the properties, and $8,101 and $6,524, 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, 2023 and 2022, impairments totaling $342 and $238, 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.

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//976/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//978/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//970/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//972/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//974/tableOfContent + Details
Name: | us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration