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Commitments and contingencies | 9 Months Ended
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Sep. 30, 2014
Commitments and contingencies |
Commitments and contingencies | Note 13. Commitments and contingencies In connection with the renovation of single-family properties after they are purchased, the Company enters into contracts for the necessary improvements. As of September 30, 2014 and December 31, 2013, the Company had aggregate outstanding commitments of $0.6 million and $1.5 million, respectively, in connection with these contracts. As of September 30, 2014 and December 31, 2013, we had commitments to acquire 730 and 536 single-family properties, respectively, with an aggregate purchase price of $117.2 million and $75.5 million, respectively. We are involved in various legal and administrative proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position.

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