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Single-Family Properties | 6 Months Ended
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Jun. 30, 2018
Real Estate [Abstract] |
Single-Family Properties | Single-Family Properties Single-family properties, net, consisted of the following as of June 30, 2018, and December 31, 2017 (in thousands, except property data):
| June 30, 2018
| Number of properties |  | Net book value
Leased single-family properties | 48,020 |  |  | $ | 7,526,347 |
Single-family properties being renovated | 223 |  |  | 57,472 |
Single-family properties being prepared for re-lease | 332 |  |  | 46,805 |
Vacant single-family properties available for lease | 1,265 |  |  | 218,285 |
Single-family properties held for sale, net | 1,838 |  |  | 284,012 |
Single-family properties identified for future sale | 371 |  |  | 51,000 |
Total | 52,049 |  |  | $ | 8,183,921 |
| December 31, 2017
| Number of properties |  | Net book value
Leased single-family properties | 46,996 |  |  | $ | 7,284,708 |
Single-family properties being renovated | 980 |  |  | 225,194 |
Single-family properties being prepared for re-lease | 372 |  |  | 47,994 |
Vacant single-family properties available for lease | 2,581 |  |  | 471,281 |
Single-family properties held for sale, net | 310 |  |  | 35,803 |
Total | 51,239 |  |  | $ | 8,064,980 |
Single-family properties, net as of June 30, 2018, and December 31, 2017, included $4.8 million and $44.2 million, respectively, related to properties for which the recorded grant deed had not been received. For these properties, the trustee or seller has warranted that all legal rights of ownership have been transferred to us on the date of the sale, but there was a delay for the deeds to be recorded. Depreciation expense related to single-family properties was $74.1 million and $69.0 million for the three months ended June 30, 2018 and 2017, respectively, and $149.5 million and $137.8 million for the six months ended June 30, 2018 and 2017, respectively. During the three months ended June 30, 2018, the Company sold 113 homes, which generated total net proceeds of $18.2 million and resulted in a net gain on sale of $3.2 million. During the six months ended June 30, 2018, the Company sold 216 homes, which generated total net proceeds of $29.6 million and resulted in a net gain on sale of $5.4 million, and sold land which generated total net proceeds of $0.5 million and resulted in a net gain on sale of $0.1 million. During the three and six months ended June 30, 2017, the Company sold 127 and 631 homes, respectively, which generated total net proceeds of $15.7 million and $39.8 million, respectively, and resulted in a net gain on sale of $2.2 million and $1.2 million, respectively. Total net proceeds for the six months ended June 30, 2017, included a $7.0 million note receivable, before a $1.5 million discount, that was recorded during the first quarter of 2017.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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