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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies

As part of our operations, we lease office space for our corporate and property management offices under non-cancelable operating lease agreements, which expire on various dates through 2019.

Rent expense related to our operating leases for the years ended December 31, 2015, 2014 and 2013, was as follows (in thousands):
 
For the Years Ended December 31,
 
2015
 
2014
 
2013
Rent expense
$
2,099

 
$
1,867

 
$
809

Less: income from subleases
(9
)
 
(11
)
 
—

Net rent expense
$
2,090

 
$
1,856

 
$
809



Future lease obligations under our operating leases as of December 31, 2015, were as follows (in thousands):
Year
 
 
2016
 
$
1,327

2017
 
1,049

2018
 
201

2019
 
4

Total lease commitments
 
2,581

Less: income from subleases
 
(302
)
Net lease commitments
 
$
2,279



In connection with the renovation of single-family properties after they are purchased, the Company enters into contracts for the necessary improvements. As of December 31, 2015 and 2014, the Company had aggregate outstanding commitments of zero and $4.1 million, respectively, in connection with these contracts.

As of December 31, 2015 and 2014, we had commitments to acquire 12 and 703 single-family properties, respectively, with an aggregate purchase price of $1.7 million and $110.9 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.

We have a retirement savings plan pursuant to Section 401(k) of the Code whereby our employees may contribute a portion of their compensation to their respective retirement accounts in an amount not to exceed the maximum allowed under the Code. In addition to employee contributions, we have elected to provide company contributions (subject to statutory limitations), which amounted to approximately $0.5 million, $0.3 million and $0.2 million for the years ended December 31, 2015, 2014 and 2013, respectively.