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Investments in Single-Family Residential Properties | 3 Months Ended
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Mar. 31, 2024
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:
|  | March 31, 2024 |  | December 31, 2023
Land |  | $ | 4,869,884 |  |  | $ | 4,881,890 |
Single-family residential property |  | 16,041,330 |  |  | 15,977,256 |
Capital improvements |  | 565,847 |  |  | 565,214 |
Equipment |  | 127,974 |  |  | 127,536 |
Total gross investments in the properties |  | 21,605,035 |  |  | 21,551,896 |
Less: accumulated depreciation |  | (4,418,164) |  |  | (4,262,682) |
Investments in single-family residential properties, net |  | $ | 17,186,871 |  |  | $ | 17,289,214 |
As of March 31, 2024 and December 31, 2023, the carrying amount of the residential properties above includes $135,683 and $135,004, respectively, of capitalized acquisition costs (excluding purchase price), along with $78,553 and $78,073, respectively, of capitalized interest, $30,829 and $30,531, respectively, of capitalized property taxes, $5,072 and $5,037, respectively, of capitalized insurance, and $3,709 and $3,691, respectively, of capitalized homeowners’ association (“HOA”) fees. During the three months ended March 31, 2024 and 2023, we recognized $171,918, and $162,084, respectively, of depreciation expense related to the components of the properties, and $3,395 and $2,589, 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 March 31, 2024 and 2023, impairments totaling $60 and $178, 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 -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
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