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Cash, Cash Equivalents and Restricted Cash
 6 Months Ended
Jun. 30, 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 June 30, 2017 and 2016:
 
June 30, 2017
 
June 30, 2016
Balance Sheet:
 
 
 
Cash and cash equivalents
$
67,325

 
$
270,369

Restricted cash
128,524

 
133,996

Statement of Cash Flows:
 
 
 
Cash, cash equivalents and restricted cash
$
195,849

 
$
404,365