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DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
 3 Months Ended
Mar. 31, 2022
Other Liabilities Disclosure [Abstract]  
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
Deferred revenue and other liabilities consist of the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, retainage payables for development and redevelopment projects, tenant rent payments received in advance of the month in which they are due, and lease liabilities recorded upon adoption of ASU 2016-02, Leases (Topic 842). The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt.
As of March 31, 2022 and December 31, 2021, deferred revenue, intangibles, net and other liabilities consisted of the following:
($ in thousands)March 31, 2022December 31, 2021
Unamortized in-place lease liabilities$200,950 $210,261 
Retainages payable and other8,815 10,796 
Tenant rents received in advance26,138 30,125 
Lease liabilities70,365 70,237 
Total$306,268 $321,419 
The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements of operations and comprehensive income and totaled $3.9 million and $0.7 million for the three months ended March 31, 2022 and 2021, respectively.