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Leases
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases Leases
Lessor
The leases entered into between the customer and us for rental of a Site are renewable upon the consent of both parties or, in some instances, as provided by statute. Long-term leases that are non-cancelable by the tenants are in effect at certain Properties. Rental rate increases at these Properties are primarily a function of increases in the Consumer Price Index, taking into consideration certain conditions. Additionally, periodic market rate adjustments are made as deemed appropriate. In addition, certain state statutes allow entry into long-term agreements that effectively modify lease terms related to rent amounts and increases over the term of the agreements. The following table presents future minimum rents expected to be received under long-term non-cancelable tenant leases, as well as those leases that are subject to long-term agreements governing rent payments and increases:
(amounts in thousands)
As of September 30, 2021
2021$44,370 
2022180,897 
2023129,603 
202460,749 
202522,777 
Thereafter66,775 
Total$505,171 
Lessee
We lease land under non-cancelable operating leases at 14 Properties expiring at various dates between 2022 and 2054. The majority of the leases have terms requiring fixed payments plus additional rents based on a percentage of gross revenues at those Properties. We also have other operating leases, primarily office space, expiring at various dates through 2032. For the quarters ended September 30, 2021 and 2020, total operating lease payments were $2.9 million and $2.5 million, respectively. For the nine months ended September 30, 2021 and 2020, total operating lease payments were $8.0 million and $7.3 million, respectively.
The following table summarizes our minimum future rental payments, excluding variable costs, which are discounted by our incremental borrowing rate to calculate the lease liability for our operating leases as of September 30, 2021:
As of September 30, 2021
(amounts in thousands)
Ground LeasesOffice and Other LeasesTotal
2021$525 $1,060 $1,585 
20221,638 2,939 4,577 
2023626 2,682 3,308 
2024632 2,326 2,958 
2025637 2,024 2,661 
Thereafter4,941 10,958 15,899 
Total undiscounted rental payments8,999 21,989 30,988 
Less imputed interest(1,976)(3,340)(5,316)
Total lease liabilities$7,023 $18,649 $25,672 

Right-of-use (“ROU”) assets and lease liabilities from our operating leases, included within Other assets, net and Accounts payable and other liabilities on the Consolidated Balance Sheets, were $23.7 million and $25.7 million, respectively, as of September 30, 2021. The weighted average remaining lease term for our operating leases was nine years and the weighted average incremental borrowing rate was 3.8% at September 30, 2021.
ROU assets and lease liabilities from our operating leases, included within Other assets, net and Accounts payable and other liabilities on the Consolidated Balance Sheets, were $15.7 million and $16.4 million, respectively, as of December 31, 2020. The weighted average remaining lease term for our operating leases was eight years and the weighted average incremental borrowing rate was 4.0% at December 31, 2020.
Leases Leases
Lessor
The leases entered into between the customer and us for rental of a Site are renewable upon the consent of both parties or, in some instances, as provided by statute. Long-term leases that are non-cancelable by the tenants are in effect at certain Properties. Rental rate increases at these Properties are primarily a function of increases in the Consumer Price Index, taking into consideration certain conditions. Additionally, periodic market rate adjustments are made as deemed appropriate. In addition, certain state statutes allow entry into long-term agreements that effectively modify lease terms related to rent amounts and increases over the term of the agreements. The following table presents future minimum rents expected to be received under long-term non-cancelable tenant leases, as well as those leases that are subject to long-term agreements governing rent payments and increases:
(amounts in thousands)
As of September 30, 2021
2021$44,370 
2022180,897 
2023129,603 
202460,749 
202522,777 
Thereafter66,775 
Total$505,171 
Lessee
We lease land under non-cancelable operating leases at 14 Properties expiring at various dates between 2022 and 2054. The majority of the leases have terms requiring fixed payments plus additional rents based on a percentage of gross revenues at those Properties. We also have other operating leases, primarily office space, expiring at various dates through 2032. For the quarters ended September 30, 2021 and 2020, total operating lease payments were $2.9 million and $2.5 million, respectively. For the nine months ended September 30, 2021 and 2020, total operating lease payments were $8.0 million and $7.3 million, respectively.
The following table summarizes our minimum future rental payments, excluding variable costs, which are discounted by our incremental borrowing rate to calculate the lease liability for our operating leases as of September 30, 2021:
As of September 30, 2021
(amounts in thousands)
Ground LeasesOffice and Other LeasesTotal
2021$525 $1,060 $1,585 
20221,638 2,939 4,577 
2023626 2,682 3,308 
2024632 2,326 2,958 
2025637 2,024 2,661 
Thereafter4,941 10,958 15,899 
Total undiscounted rental payments8,999 21,989 30,988 
Less imputed interest(1,976)(3,340)(5,316)
Total lease liabilities$7,023 $18,649 $25,672 

Right-of-use (“ROU”) assets and lease liabilities from our operating leases, included within Other assets, net and Accounts payable and other liabilities on the Consolidated Balance Sheets, were $23.7 million and $25.7 million, respectively, as of September 30, 2021. The weighted average remaining lease term for our operating leases was nine years and the weighted average incremental borrowing rate was 3.8% at September 30, 2021.
ROU assets and lease liabilities from our operating leases, included within Other assets, net and Accounts payable and other liabilities on the Consolidated Balance Sheets, were $15.7 million and $16.4 million, respectively, as of December 31, 2020. The weighted average remaining lease term for our operating leases was eight years and the weighted average incremental borrowing rate was 4.0% at December 31, 2020.