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Cash, Cash Equivalents and Restricted Cash
 3 Months Ended
Mar. 31, 2017
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash

We consider all demand deposits, cashier's checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the FDIC insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant.
    
Restricted cash primarily consists of funds held related to resident security deposits and cash reserves in accordance with certain loan agreements. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument.

The following table provides a reconciliation of cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets as of March 31, 2017 and 2016:
 
March 31, 2017
 
March 31, 2016
Balance Sheet:
 
 
 
Cash and cash equivalents
$
495,802

 
$
71,438

Restricted cash
135,057

 
132,082

Statement of Cash Flows:
 
 
 
Cash, cash equivalents and restricted cash
$
630,859

 
$
203,520