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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Series E Units
Sep. 30, 2013
Series E Units
Sep. 30, 2014
Series C Convertible Units
Sep. 30, 2013
Series C Convertible Units
Sep. 30, 2014
Class A common shares
Sep. 30, 2013
Class A common shares
Sep. 30, 2014
Class B common shares
Sep. 30, 2013
Class B common shares
Sep. 30, 2014
Series D Convertible Units
Sep. 30, 2013
Series D Convertible Units
Sep. 30, 2014
Class A Units
Sep. 30, 2013
Class A Units
Operating activities                            
Net loss $ (23,100) $ (9,595)                        
Adjustments to reconcile net loss to net cash provided by operating activities:                            
Depreciation and amortization 118,311 37,827                        
Noncash amortization of deferred financing costs 919 186                        
Noncash share-based compensation 1,895 606                        
Gain on remeasurement of equity method investment 0 (10,945)                        
Gain on disposition of discontinued operations 0 (904)                        
Provision for bad debt 4,429 0                        
Remeasurement of Series E units 4,112 438                        
Remeasurement of Preferred shares 2,348 0                        
Equity in net income of unconsolidated ventures 62 0                        
Other changes in operating assets and liabilities:                            
Rent and other receivables (3,927) 5,244                        
Restricted cash for resident security deposits (13,232) (21,282)                        
Prepaid expenses and other assets 6,331 (2,793)                        
Deferred leasing costs (5,096) (6,348)                        
Accounts payable and accrued expenses 18,150 10,857                        
Resident security deposit liability 13,232 21,282                        
Amounts payable to affiliates 7,218 (20,251)                        
Net cash provided by operating activities 131,652 4,322                        
Investing activities                            
Cash paid for single-family properties (914,059) (1,712,119)                        
Escrow deposits for purchase of single-family properties (37,834) (11,834)                        
Change in restricted cash related to lender requirements (19,550) 0                        
Cash acquired in non-cash business combinations 2,202 33,099                        
Beazer Rental Homes acquisition (108,246) 0                        
Settlement of net monetary assets related to Management Internalization 0 (6,958)                        
Net proceeds received from sale of discontinued operations 0 8,844                        
Investment in unconsolidated joint ventures (13,932) 0                        
Distributions from unconsolidated joint venture 0 3,431                        
Investments in mortgage financing receivables (23,744) 0                        
Initial renovation to single-family properties (136,150) (321,559)                        
Other capital expenditures for single-family properties (10,051) 0                        
Net cash used for investing activities (1,261,364) (2,007,096)                        
Financing activities                            
Implied contribution by Sponsor for historical operations 0 517                        
Net proceeds from issuance of Class A common shares 308,617 1,548,280                        
Net proceeds from issuance of Preferred shares 189,433 0                        
Proceeds from exercise of stock options 431 0                        
Proceeds from asset-backed securitizations 968,594 0                        
Payments on asset-backed securitizations (1,202) 0                        
Proceeds from credit facility 1,174,000 1,044,000                        
Payments on credit facility (1,467,000) (806,000)                        
Proceeds from bridge loan 0 115,000                        
Payments on bridge loan 0 (115,000)                        
Extinguishment of RJ1 note payable 0 (7,600)                        
Contributions to noncontrolling interests 0 500                        
Distributions to noncontrolling interests (17,827) (6,497)                        
Distributions to common shareholders (29,125) 0                        
Distributions to preferred shareholders (13,359) 0                        
Deferred financing costs (27,900) (9,559)                        
Net cash provided by financing activities 1,084,662 1,763,641                        
Net decrease in cash and cash equivalents (45,050) (239,133)                        
Cash and cash equivalents, beginning of period 148,989 397,198                        
Cash and cash equivalents, end of period 103,939 158,065                        
Supplemental cash flow information                            
Cash payments for interest (15,654) (4,011)                        
Supplemental schedule of noncash investing and financing activities                            
Receivables related to property acquisitions 0 1,639                        
Accounts payable and accrued expenses related to property acquisitions (4,631) 28,237                        
Accounts payable and accrued expenses related to deferred financing costs 0 2,533                        
Amounts payable to affiliates related to property acquisitions (1,883) (1,683)                        
Accrued distribution to convertible units         4,698 4,698                
Contribution of properties (see Note 10)                            
Single-family properties, including related assets and liabilities 0 32,229                        
Additional paid-in capital 0 (384,225)                        
Due from affiliates 0 (2,508)                        
Issuance of common shares                 0 7,993        
Acquisitions for equity (see Note 11)                            
Single-family properties 144,834 966,571                        
Cash and cash equivalents 2,202 33,099                        
Other net assets and liabilities (4,886) (36,760)                        
Deferred costs and other intangibles 2,655 133,195                        
Class A common shares             (82) (436)            
Additional paid-in capital (144,723) (703,856)                        
Issuance of convertible units to noncontrolling interest         0 391,701         0 (65,188) 0 (221,934)
Contingently convertible Series E units liability     0 (64,881)                    
Noncontrolling interest in consolidated subsidiaries $ 0 $ (39,321)