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Lease Revenue | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Lease Revenue | Lease RevenueWe lease our multifamily properties and commercial properties under agreements that are classified as operating leases. Our multifamily property leases generally includes minimum rents and charges for ancillary services. Our commercial property leases generally included minimum rents and recoveries for property taxes and common area maintenance. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. The following table summarizes the components of our rental revenue for the three months ended March 31, 2022 and 2021:
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2022 |  | 2021
Fixed component |  |  |  |  |  | $ | 6,996 |  |  | $ | 9,863 |
Variable component |  |  |  |  |  | 485 |  |  | 498 |
|  |  |  |  |  | $ | 7,481 |  |  | $ | 10,361 |
The following table summarizes the future rental payments that are payable to us from non-cancelable leases. The table excludes multifamily leases, which typically have a term of one-year or less:
2022 |  | $ | 12,195 |
2023 |  | 8,093 |
2024 |  | 5,391 |
2025 |  | 5,079 |
2026 |  | 4,911 |
Thereafter |  | 18,777 |
|  | $ | 54,446 |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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