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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of Award Valuation Performance Period Metrics | Each participant’s total award under the Officer STIP with respect to a performance period will be stated as a percentage of the participant’s annual base salary determined as of the first day of that performance period, which percentage will depend upon the participant’s position and the degree of achievement of threshold, target, and high performance goals for the performance period. The percentages for the performance period beginning January 1, 2024 are as set forth in the table below:
| Threshold | Target | High
President and Chief Executive Officer | 63% | 125% | 188%
Chief Operating Officer | 47% | 93% | 158%
Chief Financial Officer | 41% | 75% | 133%
Chief Information Officer | 35% | 65% | 115%
Chief Administrative Officer | 30% | 60% | 105%
Each participant’s total award under the Officer LTIP with respect to a performance period will be stated as a percentage of the participant’s annual base salary determined as of the beginning of that performance period. The percentages for the performance period beginning January 1, 2024 are as set forth in the table below:
| Threshold | Target | High
President and Chief Executive Officer | 198% | 275% | 440%
Chief Operating Officer | 133% | 190% | 280%
Chief Financial Officer | 95% | 135% | 196%
Chief Information Officer | 100% | 143% | 207%
Chief Administrative Officer | 70% | 100% | 145%
Schedule of Assumptions Used to Value TSR Portion of LTIP Awards | The assumptions used to value the TSR portion of the officer LTIP awards were as follows:
| 2024 Awards |  | 2023 Awards |  | 2022 Awards
Expected volatility (1) | 25.5 | % |  | 32.3 | % |  | 35.2 | %
Risk-free interest rate (2) | 4.7 | % |  | 4.2 | % |  | 1.7 | %
Expected term (3) | 3 years |  | 3 years |  | 3 years
Share price at grant date | $ | 15.31 |  |  | $ | 19.04 |  |  | $ | 24.54 |
______________________________ (1) Expected volatility based upon historical volatility of our daily closing share price. (2) Risk-free interest rate based on U.S. treasury constant maturity bonds on the measurement date with a maturity equal to the market condition performance period. (3) Expected term based on the market condition performance period.
Schedule of Restricted Share Awards Activity | The activity for the three years ended December 31, 2024 related to our restricted share awards, excluding those subject to market conditions and inclusive of trustee awards, was as follows:
| Shares |  | Weighted Average Grant Fair Value
Unvested at December 31, 2021 | 259,695 |  |  | $ | 29.16 |
Granted | 408,606 |  |  | 22.33 |
Vested during year | (408,118) |  |  | 27.13 |
Forfeited | (17,814) |  |  | 25.31 |
Unvested at December 31, 2022 | 242,369 |  |  | 21.35 |
Granted | 410,928 |  |  | 18.40 |
Vested during year | (367,109) |  |  | 19.79 |
Forfeited | (28,453) |  |  | 20.85 |
Unvested at December 31, 2023 | 257,735 |  |  | 18.89 |
Granted | 280,008 |  |  | 14.61 |
Vested during year | (237,433) |  |  | 17.13 |
Forfeited | (19,823) |  |  | 14.86 |
Unvested at December 31, 2024 | 280,487 |  |  | 16.27 |
Schedule of Performance Share Units with Market Conditions | Share-based awards with market conditions under the LTIP were awarded in 2024, 2023 and 2022 with fair market values, as determined using a Monte Carlo simulation, as follows (in thousands):
| 2024 Awards (1) |  | 2023 Awards (1) |  |  |  | 2022 Awards (1)
Relative Peer TSR | $ | 1,101 |  |  | $ | 831 |  |  |  |  | $ | 1,480 |
Absolute/Index TSR (2) | 1,313 |  | 1,048 |  |  |  |  | N/A
Schedule of Unamortized Value of Awards with Market Conditions | The unamortized value of these awards with market conditions as of December 31, 2024 was as follows (in thousands):
| 2024 Awards (1) |  | 2023 Awards (1) |  |  |  | 2022 Awards (1)
Relative Peer TSR | $ | 853 |  |  | $ | 294 |  |  |  |  | $ | — |
Absolute/Index TSR (2) | 1,016 |  | 376 |  |  |  |  | N/A
______________________________ (1) The 2024, 2023 and 2022 Awards were granted under the Officer LTIP, whereby all of the shares vest immediately at the end of the 3-year performance period. (2) The performance conditions for the 2024 and 2023 awards were evaluated based on 60% on TSR relative to the FTSE Nareit Residential Index and 40% based on TSR relative to a defined populations of peer companies. The performance conditions for the 2022 awards were evaluated based on 100% on TSR relative to a defined population of peer companies.

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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