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Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating activities    
Net loss $ (19,066,000) $ (10,236,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 70,987,000 2,111,000
Noncash amortization of deferred financing costs 186,000  
Noncash share-based compensation 1,079,000 70,000
Provision for bad debt 2,273,000  
Acquisition costs attributable to contributed properties   455,000
Gain on remeasurement of equity method investment (10,945,000)  
Remeasurement of Series E units 2,057,000  
Remeasurement of Preferred shares 1,810,000  
Gain on disposition of discontinued operations (904,000)  
Other changes in operating assets and liabilities:    
Rent and other receivables 3,339,000 (82,000)
Resident security deposits (26,430,000)  
Prepaid expenses and other assets (16,238,000) (492,000)
Deferred leasing costs (9,710,000)  
Accounts payable and accrued expenses 39,973,000 676,000
Amounts payable to affiliates (22,239,000) 949,000
Net cash provided by (used in) operating activities 16,172,000 (6,549,000)
Investing activities    
Cash paid for single-family properties (2,011,977,000) (87,506,000)
Escrow deposits for purchase of single-family properties (13,740,000) (7,393,000)
Cash acquired in non-cash business combinations 33,099,000  
Net proceeds received from sale of discontinued operations 8,844,000  
Distributions from unconsolidated joint venture 3,431,000  
Improvements to single-family properties (382,070,000) (2,571,000)
Net cash used in investing activities (2,369,371,000) (97,470,000)
Financing activities    
Implied contribution by Sponsor for historical operations 517,000 5,888,000
Net proceeds from issuance of Class A common shares 1,548,280,000 494,839,000
Net proceeds from issuance of Class A units in Operating Partnership   490,000
Net proceeds from issuance of Preferred shares 212,596,000  
Proceeds from credit facility 1,425,000,000  
Payments on credit facility (1,050,000,000)  
Proceeds from bridge loan 115,000,000  
Payments on bridge loan (115,000,000)  
Extinguishment of RJ1 note payable (7,600,000)  
Contributions from noncontrolling interests 500,000  
Distributions to noncontrolling interests (11,829,000)  
Distributions to preferred shareholders (1,160,000)  
Deferred financing costs (11,314,000)  
Net cash provided by financing activities 2,104,990,000 501,217,000
Net decrease in cash and cash equivalents (248,209,000) 397,198,000
Cash and cash equivalents, beginning of period 397,198,000  
Cash and cash equivalents, end of period 148,989,000 397,198,000
Supplemental cash flow information    
Cash payments for interest 5,473,000  
Supplemental schedule of noncash investing and financing activities    
Receivables related to property acquisitions 1,166,000 3,312,000
Accounts payable and accrued expenses related to property acquisitions 24,589,000 2,306,000
Accounts payable and accrued expenses related to deferred financing costs 833,000  
Amounts payable to affiliates related to property acquisitions (244,000) 4,180,000
Accrued distribution to noncontrolling interests 5,387,000  
Accrued distribution to common shareholders 9,274,000  
Contribution of properties (see Note 9)    
Single-family properties, including related assets and liabilities 32,229,000 408,639,000
Additional paid-in capital (384,255,000) (361,483,000)
Due from affiliates (2,508,000)  
Issuance of units to noncontrolling interest 500,000  
Non-cash acquisitions (see Note 10)    
Single-family properties 966,571,000  
Other net assets and liabilities (36,760,000)  
Deferred costs and other intangibles 133,195,000  
Additional paid-in capital (703,856,000)  
Issuance of units to noncontrolling interest (500,000)  
Contingently convertible Series E units liability (64,881,000)  
Noncontrolling interest in consolidated subsidiaries (39,321,000)  
Cash acquired in non-cash business combinations 33,099,000  
Management Internalization [Member]
    
Investing activities    
Settlement of net monetary assets related to Management Internalization (6,958,000)  
Class A Units [Member]
    
Contribution of properties (see Note 9)    
Issuance of units to noncontrolling interest 221,934,000  
Non-cash acquisitions (see Note 10)    
Issuance of units to noncontrolling interest (221,934,000)  
Series C Convertible Units [Member]
    
Contribution of properties (see Note 9)    
Issuance of units to noncontrolling interest 391,701,000  
Non-cash acquisitions (see Note 10)    
Issuance of units to noncontrolling interest (391,701,000)  
Class A Common Shares [Member]
    
Contribution of properties (see Note 9)    
Issuance of common shares   47,156,000
Non-cash acquisitions (see Note 10)    
Class A common shares (436,000)  
Class B Common Shares [Member]
    
Contribution of properties (see Note 9)    
Issuance of common shares 7,993,000  
Series D Convertible Units [Member]
    
Contribution of properties (see Note 9)    
Issuance of units to noncontrolling interest 65,188,000  
Non-cash acquisitions (see Note 10)    
Issuance of units to noncontrolling interest $ (65,188,000)