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Lease Revenue
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Lease Revenue Lease Revenue
We lease our multifamily properties and commercial properties under agreements that are classified as operating leases. Our multifamily property leases generally include minimum rents and charges for ancillary services. Our commercial property leases generally include 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 and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Fixed component$10,841 $11,338 $32,667 $32,968 
Variable component233 500 874 1,268 
$11,074 $11,838 $33,541 $34,236 
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:
2024$11,754 
202511,241 
202610,810 
202710,430 
20288,542 
Thereafter13,299 
$66,076