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Pre-owned Homes Business | 9 Months Ended
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Jun. 30, 2012
Pre-owned Homes Business [Abstract] |
Pre-owned Homes Business | Pre-owned Homes Business Beazer began its Pre-Owned Homes business for the purpose of acquiring, improving, renting and ultimately reselling, previously owned homes within select communities in markets in which we operate. We purchased our first home in March 2011. Effective May 3, 2012, we contributed $0.3 million in cash and our Pre-Owned Homes business at cost, including 190 homes in Arizona and Nevada, of which 187 were leased, for a 23.5% equity method investment in an unconsolidated real estate investment trust (the REIT). In addition, the Company received a grant of restricted units in the REIT, of which a portion vested during the quarter ended June 30, 2012, increasing our total investment to 25% of the REIT. Subsequent to the initial REIT offering, we entered into a transition services agreement with the REIT under which we will provide interim Chief Financial Officer and various back office and administrative support on an as needed basis. These services may include treasury operations and cash management services, accounting and financial reporting services, human resources support, environmental and safety services, and tax support. Fees received related to the transition services agreement will be billed at our cost and recognized as other income.

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