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Real Estate Assets, Net (Tables)

3 Months Ended

Mar. 31, 2025

Real Estate [Abstract]

Summary of Single-Family Properties

The net book values of real estate assets consisted of the following as of March 31, 2025 and December 31, 2024 (amounts in thousands):

			March 31, 2025						December 31, 2024
Occupied single-family properties			$	10,389,282					$	10,174,136
Single-family properties leased, not yet occupied			140,095						81,154
Single-family properties in turnover process			296,898						397,850
Single-family properties recently renovated or developed			103,079						226,199
Single-family properties newly acquired and under renovation			3,606						1,260
Single-family properties in operation, net			10,932,960						10,880,599
Development land			579,290						602,147
Single-family properties under development			674,672						670,137
Single-family properties and land held for sale, net			247,375						212,808
Total real estate assets, net			$	12,434,297					$	12,365,691

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Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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