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Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net loss $ (6,935,000) $ (6,857,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 35,131,000 2,905,000
Noncash amortization of deferred financing costs 163,000 186,000
Noncash share-based compensation expense 532,000 174,000
Provision for bad debt 1,423,000  
Remeasurement of Series E units 2,756,000  
Remeasurement of Preferred shares 457,000  
Other changes in operating assets and liabilities:    
Rent and other receivables (445,000) (1,327,000)
Restricted cash for resident security deposits (6,156,000)  
Prepaid expenses and other assets 3,237,000 (278,000)
Deferred leasing costs (972,000)  
Accounts payable and accrued expenses 3,972,000 4,762,000
Resident security deposit liability 6,156,000 3,042,000
Amounts payable to affiliates 7,872,000 2,772,000
Net cash provided by operating activities 47,191,000 5,379,000
Investing activities    
Cash paid for single-family properties (341,064,000) (525,427,000)
Escrow deposits for purchase of single-family properties 7,378,000 (15,231,000)
Distributions from unconsolidated joint venture   3,431,000
Improvements to single-family properties (45,388,000) (49,118,000)
Net cash used in investing activities (379,074,000) (586,345,000)
Financing activities    
Implied contribution by Sponsor for historical operations   517,000
Net proceeds from issuance of Class A common shares   703,497,000
Net proceeds from issuance of Preferred shares 9,162,000  
Proceeds from credit facility 321,000,000  
Payments on credit facility (25,000,000)  
Proceeds from bridge loan   115,000,000
Payments on bridge loan   (115,000,000)
Distributions to noncontrolling interests (5,975,000)  
Distributions to common shareholders (9,274,000)  
Distributions to preferred shareholders (3,121,000)  
Deferred financing costs (649,000) (836,000)
Net cash provided by financing activities 286,143,000 703,178,000
Net (decrease) increase in cash and cash equivalents (45,740,000) 122,212,000
Cash and cash equivalents, beginning of period 148,989,000 397,198,000
Cash and cash equivalents, end of period 103,249,000 519,410,000
Supplemental cash flow information    
Cash payments for interest 3,202,000 184,000
Supplemental schedule of noncash investing and financing activities    
Receivables related to property acquisitions   522,000
Accounts payable and accrued expenses related to property acquisitions (943,000) 7,428,000
Accounts payable and accrued expenses related to deferred financing costs   4,583,000
Amounts payable to affiliates related to property acquisitions 2,565,000 10,552,000
Accrued distribution to noncontrolling interests 5,196,000  
Accrued distribution to common shareholders 9,275,000  
Contribution of properties (see Note 10)    
Single-family properties, including related assets and liabilities   23,460,000
Additional paid-in capital   (383,992,000)
Due from affiliates   (2,508,000)
Series C Convertible Units
    
Contribution of properties (see Note 10)    
Issuance of units to noncontrolling interest   383,107,000
Class B common shares
    
Contribution of properties (see Note 10)    
Issuance of common shares   $ 7,818,000