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Lease Revenue | 12 Months Ended
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Dec. 31, 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 leases generally include 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 rental revenue for the years ended December 31, 2024, 2023 and 2022:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Fixed component | $ | 43,676 |  |  | $ | 45,466 |  |  | $ | 32,163 |
Variable component | 1,087 |  |  | 1,557 |  |  | 1,917 |
Total rental revenue | $ | 44,763 |  |  | $ | 47,023 |  |  | $ | 34,080 |
The following table summarizes the future rental payments to us from under non-cancelable leases, which excludes multifamily properties, which typically have lease terms of one-year or less:
Year |  | Amount
2025 |  | $ | 11,709 |
2026 |  | 12,492 |
2027 |  | 12,439 |
2028 |  | 11,885 |
2029 |  | 9,654 |
Thereafter |  | 20,988 |
Total |  | $ | 79,167 |

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