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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 property15,915,306 15,228,631 
Capital improvements563,024 548,700 
Equipment126,939 123,494 
Total gross investments in the properties21,512,721 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.