American Homes 4 Rent (AMH) 10-K 2 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Billions, except Share data, unless otherwise specified	Dec. 31, 2014	Jun. 30, 2014	Feb. 26, 2015
Document Information
Entity Registrant Name	American Homes 4 Rent
Entity Central Index Key	1562401
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$3.20
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Document Type	10-K
Class A common shares
Document Information
Entity Common Stock, Shares Outstanding			210,851,946
Class B common shares
Document Information
Entity Common Stock, Shares Outstanding			635,075
Series A Preferred Stock
Document Information
Entity Common Stock, Shares Outstanding			5,060,000
Series B Preferred Stock
Document Information
Entity Common Stock, Shares Outstanding			4,400,000
Series C Preferred Stock
Document Information
Entity Common Stock, Shares Outstanding			7,600,000

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Single-family properties:
Land	$1,104,409,000	$728,362,000
Buildings and improvements	4,808,706,000	3,188,693,000
Single-family properties held for sale	3,818,000	6,569,000
Single-family properties, gross	5,916,933,000	3,923,624,000
Less: accumulated depreciation	-206,262,000	-62,202,000
Single-family properties, net	5,710,671,000	3,861,422,000
Cash and cash equivalents	108,787,000	148,989,000
Restricted cash	77,198,000	26,430,000
Rent and other receivables, net	11,009,000	6,863,000
Escrow deposits, prepaid expenses and other assets	118,783,000	39,212,000
Deferred costs and other intangibles, net	54,582,000	20,573,000
Asset -backed securitization certificates	25,666,000
Goodwill	120,655,000	120,655,000
Total assets	6,227,351,000	4,224,144,000
Liabilities
Credit facility	207,000,000	375,000,000
Asset-backed securitizations	1,519,390,000
Note payable	51,644,000
Accounts payable and accrued expenses	149,706,000	103,397,000
Contingently convertible Series E units liability	72,057,000	66,938,000
Preferred shares derivative liability	57,960,000	28,150,000
Total liabilities	2,057,757,000	573,485,000
Commitments and contingencies
Shareholders' equity:
Preferred shares, $0.01 par value per share, 100,000,000 shares authorized, 17,060,000 and 9,060,000 issued and outstanding at December 31, 2014 and 2013, respectively	171,000	91,000
Additional paid-in capital	3,618,207,000	2,996,478,000
Accumulated deficit	-170,162,000	-63,479,000
Accumulated other comprehensive loss	-229,000
Total shareholders' equity	3,450,101,000	2,934,944,000
Noncontrolling interest	719,493,000	715,715,000
Total equity	4,169,594,000	3,650,659,000
Total liabilities and equity	6,227,351,000	4,224,144,000
Class A common shares
Shareholders' equity:
Common shares, value	2,108,000	1,848,000
Class B common shares
Shareholders' equity:
Common shares, value	$6,000	$6,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Preferred shares, par value (in dollars per share)	$0.01	$0.01
Preferred shares, shares authorized	100,000,000	100,000,000
Preferred shares, shares issued	17,060,000	9,060,000
Preferred shares, shares outstanding	17,060,000	9,060,000
Class A common shares
Common shares, par value (in dollars per share)	$0.01	$0.01
Common shares, shares authorized	450,000,000	450,000,000
Common shares, shares issued	210,838,831	184,869,219
Common shares, shares outstanding	210,838,831	184,869,219
Class B common shares
Common shares, par value (in dollars per share)	$0.01	$0.01
Common shares, shares authorized	50,000,000	50,000,000
Common shares, shares issued	635,075	635,075
Common shares, shares outstanding	635,075	635,075

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues:
Rents from single-family properties	$376,385	$132,722	$4,540
Fees from single-family properties	5,968	3,639
Tenant charge-backs	14,931	1,588
Other	1,590	1,083
Total revenues	398,874	139,032	4,540
Expenses:
Leased single-family properties	164,965	51,411	1,744
Vacant single-family properties and other	23,408	22,341	1,846
General and administrative expense	21,947	8,845	7,199
Advisory fees		6,352	937
Interest expense	19,881	370
Non-cash share-based compensation expense	2,586	1,079	70
Acquisition fees and costs expensed	22,386	4,799	869
Depreciation and amortization	165,516	70,987	2,111
Total expenses	420,689	166,184	14,776
Gain on remeasurement of equity method investment		10,945
Remeasurement of Series E units	-5,119	-2,057
Remeasurement of Preferred shares	-6,158	-1,810
Loss from continuing operations	-33,092	-20,074	-10,236
Discontinued operations
Gain on disposition of single-family properties		904
Income from discontinued operations		104
Income from discontinued operations		1,008
Net loss	-33,092	-19,066	-10,236
Noncontrolling interest	14,965	13,245
Dividends on preferred shares	18,928	1,160
Conversion of preferred units		10,456
Net loss attributable to common shareholders	($66,985)	($43,927)	($10,236)
Weighted average shares outstanding-basic and diluted	196,348,757	123,592,086	7,225,512
Net loss per share - basic and diluted:
Loss from continuing operations (in dollars per share)	($0.34)	($0.37)	($1.42)
Income from discontinued operations (in dollars per share)		$0.01
Net loss attributable to common shareholders per share - basic and diluted (in dollars per share)	($0.34)	($0.36)	($1.42)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Comprehensive Income
Net loss	($33,092)	($19,066)	($10,236)
Unrealized loss on interest rate cap agreement:
Unrealized interest rate cap agreement loss arising during the period	-229
Unrealized loss on interest rate cap agreement	-229
Total other comprehensive loss	-229
Comprehensive loss	-33,321	-19,066	-10,236
Comprehensive income attributable to noncontrolling interests	14,979	13,245
Dividends on preferred shares	18,928	1,160
Conversion of preferred shares		10,456
Comprehensive loss attributable to common shareholders	($67,228)	($43,927)	($10,236)

Consolidated_Statement_of_Equi

Consolidated Statement of Equity (USD $)	Shareholders' equity	Shareholders' equity	Common Stock	Common Stock	Common Stock	Common Stock	Preferred shares	Additional paid-in capital	Additional paid-in capital	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Noncontrolling interest	Noncontrolling interest	Noncontrolling interest	Class A common shares	Class A common shares	Class A common shares	Alaska Joint Venture Acquisition	RJ Joint Ventures Acquisition	Total
	Alaska Joint Venture Acquisition	USD ($)	Class A common shares	Class A common shares	Class A common shares	Class B common shares	USD ($)	Alaska Joint Venture Acquisition	Subscription Agreement	USD ($)	USD ($)	USD ($)	Alaska Joint Venture Acquisition	RJ Joint Ventures Acquisition	USD ($)	Alaska Joint Venture Acquisition	Subscription Agreement		USD ($)	USD ($)	USD ($)
	USD ($)		Alaska Joint Venture Acquisition	Subscription Agreement	USD ($)	USD ($)		USD ($)	USD ($)				USD ($)	USD ($)
			USD ($)	USD ($)
Beginning Balances at Dec. 31, 2011		$3,474,000								$3,516,000	($42,000)										$3,474,000
Increase (Decrease) in Stockholders' Equity
Issuances of Class A common shares, net of offering costs		494,839,000			354,000					494,485,000											494,839,000
Issuances of Class A common shares, net of offering costs ( in shares)					35,363,998
Contribution of properties and cash by AH LLC in connection with 2012 Offering		47,156,000			33,000					47,123,000					490,000						47,646,000
Common shares issue to Sponsor in 2012 offering					3,300,000	667
2,770 Property Contribution		369,371,000								369,371,000											369,371,000
Share-based compensation		70,000								70,000											70,000
Distributions to equity holders:
Net (loss) income		-10,236,000									-10,236,000										-10,236,000
Ending Balances at Dec. 31, 2012		904,674,000			387,000					914,565,000	-10,278,000				490,000						905,164,000
Ending Balances, shares at Dec. 31, 2012					38,663,998	667
Increase (Decrease) in Stockholders' Equity
Issuances of Class A common shares, net of offering costs		1,548,280,000			1,021,000					1,547,259,000											1,548,280,000
Issuances of Class A common shares, net of offering costs ( in shares)					102,141,544
2,770 Property Contribution		-356,436,000				6,000				-356,442,000					392,253,000						35,817,000
2,770 Property Contribution (shares)						634,408
Issuance of common stock other	704,292,000		436,000	4,000				703,856,000	-4,000				200,195,000	61,060,000					904,487,000	61,060,000
Issuance of common stock other, shares			43,609,394	434,783													434,783
Management Internalization															65,188,000						65,188,000
Share-based compensation		1,079,000								1,079,000											1,079,000
Share-based compensation (in shares)					19,500
Formation of consolidated joint venture															500,000						500,000
Conversion of preferred units		-10,456,000									-10,456,000										-10,456,000
Issuances of Preferred shares, net of offering costs		186,256,000					91,000			186,165,000											186,256,000
Issuance of Preferred shares, net of offering costs (in shares)							9,060,000
Distributions to equity holders:
Preferred shares		-1,160,000									-1,160,000										-1,160,000
Noncontrolling interests															-17,216,000						-17,216,000
Common shares		-9,274,000									-9,274,000										-9,274,000
Net (loss) income		-32,311,000									-32,311,000				13,245,000						-19,066,000
Ending Balances at Dec. 31, 2013		2,934,944,000			1,848,000	6,000	91,000			2,996,478,000	-63,479,000				715,715,000						3,650,659,000
Ending Balances, shares at Dec. 31, 2013					184,869,219	635,075	9,060,000
Increase (Decrease) in Stockholders' Equity
Issuances of Class A common shares, net of offering costs		453,671,000			260,000					453,411,000											453,671,000
Issuances of Class A common shares, net of offering costs ( in shares)					25,969,612
2,770 Property Contribution		31,000								31,000					1,515,000						1,546,000
Share-based compensation		2,586,000								2,586,000											2,586,000
Issuances of Preferred shares, net of offering costs		165,781,000					80,000			165,701,000											165,781,000
Issuance of Preferred shares, net of offering costs (in shares)							8,000,000
Issuance of Class A units															11,179,000						11,179,000
Distributions to equity holders:
Preferred shares		-18,928,000									-18,928,000										-18,928,000
Noncontrolling interests															-23,881,000						-23,881,000
Common shares		-39,698,000									-39,698,000										-39,698,000
Net (loss) income		-48,057,000									-48,057,000				14,965,000						-33,092,000
Total other comprehensive loss		-229,000										-229,000									-229,000
Ending Balances at Dec. 31, 2014		$3,450,101,000			$2,108,000	$6,000	$171,000			$3,618,207,000	($170,162,000)	($229,000)			$719,493,000						$4,169,594,000
Ending Balances, shares at Dec. 31, 2014					210,838,831	635,075	17,060,000

Consolidated_Statement_of_Equi1

Consolidated Statement of Equity (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Preferred shares
Offering costs	$10,567	$13,904
Common Stock | Class A common shares
Offering costs	$4,887	$85,984	$40,928

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net loss	($33,092)	($19,066)	($10,236)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	165,516	70,987	2,111
Noncash amortization of deferred financing costs	1,767	186
Noncash share-based compensation	2,586	1,079	70
Gain on remeasurement of equity method investment		-10,945
Gain on disposition of discontinued operations		-904
Provision for bad debt	5,691	2,273
Acquisition costs attributable to contributed properties			455
Remeasurement of Series E units	5,119	2,057
Remeasurement of Preferred shares	6,158	1,810
Equity in net loss of unconsolidated ventures	138
Other changes in operating assets and liabilities:
Rent and other receivables	-10,115	3,339	-82
Restricted cash for resident security deposits	-14,967	-26,430
Prepaid expenses and other assets	4,185	-16,238	-492
Deferred leasing costs	-6,247	-9,710
Accounts payable and accrued expenses	18,528	13,543	676
Resident security deposit liability	14,967	26,430
Amounts payable to affiliates	303	-22,239	949
Net cash provided by (used for) operating activities	160,537	16,172	-6,549
Investing activities
Cash paid for single-family properties	-1,349,912	-2,011,977	-87,506
Escrow deposits for purchase of single-family properties	-52,671	-13,740	-7,393
Change in restricted cash related to lender requirements	-35,801
Cash acquired in non-cash business combinations	2,202	33,099
Beazer Rental Homes acquisition	-108,246
Ellington portfolio acquisition	-74,356
Settlement of net monetary assets related to Management Internalization		-6,958
Net proceeds received from sale of discontinued operations		8,844
Investment in unconsolidated joint ventures	-24,862
Distributions from unconsolidated joint venture		3,431
Investments in mortgage financing receivables	-57,346
Initial renovation to single-family properties	-185,449	-382,070	-2,571
Other capital expenditures for single-family properties	-14,311
Net cash used in investing activities	-1,900,752	-2,369,371	-97,470
Financing activities
Implied contribution by Sponsor for historical operations		517	5,888
Net proceeds from issuance of Class A common shares	308,435	1,548,280	494,839
Net proceeds from issuance of Class A units in Operating Partnership			490
Net proceeds from issuance of Preferred shares	189,433	212,596
Proceeds from exercise of stock options	431
Proceeds from asset-backed securitizations	1,497,039
Payments on asset-backed securitizations	-3,315
Proceeds from credit facility	1,828,000	1,425,000
Payments on credit facility	-1,996,000	-1,050,000
Proceeds from bridge loan		115,000
Payments on bridge loan		-115,000
Extinguishment of RJ1 note payable		-7,600
Contributions to noncontrolling interests		500
Distributions to noncontrolling interests	-23,881	-11,829
Distributions to common shareholders	-39,698
Distributions to preferred shareholders	-18,928	-1,160
Deferred financing costs paid	-41,503	-11,314
Net cash provided by financing activities	1,700,013	2,104,990	501,217
Net (decrease) increase in cash and cash equivalents	-40,202	-248,209	397,198
Cash and cash equivalents, beginning of period	148,989	397,198
Cash and cash equivalents, end of period	108,787	148,989	397,198
Supplemental cash flow information
Cash payments for interest	-24,616	-5,473
Supplemental schedule of noncash investing and financing activities
Receivables related to property acquisitions		1,166	3,312
Accounts payable and accrued expenses related to property acquisitions	7,173	24,589	2,306
Accounts payable and accrued expenses related to deferred financing costs		833
Amounts payable to affiliates related to property acquisitions	5,720	-244	4,180
Accrued distribution to noncontrolling interests	4,698	5,387
Accrued distribution to common shareholders		9,274
Contribution of properties (see Note 10)
Single-family properties, including related assets and liabilities		32,229	408,639
Additional paid-in capital		-384,255	-361,483
Due from affiliates		-2,508
Issuance of units to noncontrolling interest		500
Issuance of Class A units	11,179
Acquisitions for equity (see Note 11)
Single-family properties	144,834	966,571
Cash and cash equivalents	2,202	33,099
Other net assets and liabilities	-4,886	-36,760
Deferred costs and other intangibles	2,655	133,195
Class A common shares	-82	-436
Additional paid-in capital	-144,723	-703,856
Issuance of units to noncontrolling interest		-500
Noncontrolling interest in consolidated subsidiaries		-39,321
Class A Units
Contribution of properties (see Note 10)
Issuance of units to noncontrolling interest		221,934
Issuance of Class A units	11,179
Acquisitions for equity (see Note 11)
Issuance of units to noncontrolling interest		-221,934
Series C Convertible Units
Contribution of properties (see Note 10)
Issuance of units to noncontrolling interest		391,701
Acquisitions for equity (see Note 11)
Issuance of units to noncontrolling interest		-391,701
Class A common shares
Adjustments to reconcile net loss to net cash provided by operating activities:
Noncash share-based compensation		300
Contribution of properties (see Note 10)
Issuance of common shares			47,156
Class B common shares
Contribution of properties (see Note 10)
Issuance of common shares		7,993
Series D Convertible Units
Contribution of properties (see Note 10)
Issuance of units to noncontrolling interest		65,188
Acquisitions for equity (see Note 11)
Issuance of units to noncontrolling interest		-65,188
Series E Units
Acquisitions for equity (see Note 11)
Contingently convertible Series E units liability		($64,881)

Organization_and_operations

Organization and operations	12 Months Ended
	Dec. 31, 2014
Significant accounting policies
Organization and operations	Note 1. Organization and operations
	American Homes 4 Rent is a Maryland REIT formed on October 19, 2012. We are focused on acquiring, renovating, leasing and operating single-family homes as rental properties. As of December 31, 2014, the Company held 34,599 single-family properties in 22 states, including properties held for sale, compared to 23,268 single-family properties in 22 states, including properties held for sale, as of December 31, 2013.
	In 2012, the Company raised approximately $530.4 million before offering costs of $40.9 million, including $5.3 million related to the value of the option issued to AH LLC, in an offering exempt from registration under the Securities Act of 1933 (the "2012 Offering"). In 2013, the Company raised $747.5 million before offering costs of $44.0 million in an offering exempt from registration under the Securities Act of 1933 (the "2013 Offering"). Also in 2013, the Company raised $811.8 million before offering costs of $42.0 million in our initial public offering (the "IPO"). Concurrently with the IPO, the Company raised an additional $75.0 million in private placements, which were made concurrently with the IPO offering price and without payment of any underwriting discount, to AH LLC and the Alaska Permanent Fund Corporation ("APFC") (collectively, the "2013 Concurrent Private Placements"). In 2013 and 2014, the Company raised $126.5 million before offering costs of $7.3 million through the issuance of 5,060,000 5.0% Series A Participating Preferred Shares ("Series A Preferred Shares"), raised $110.0 million before offering costs of $6.6 million through the issuance of 4,400,000 5.0% Series B Participating Preferred Shares ("Series B Preferred Shares") and raised $190.0 million before offering costs of $9.7 million through the issuance of 7,600,000 5.5% Series C Participating Preferred Shares ("Series C Preferred Shares") (collectively, the "Preferred Shares").
	From our formation through June 10, 2013, we were externally managed and advised by the Advisor and the leasing, managing and advertising of our properties was overseen and directed by the Property Manager, both of which were subsidiaries of AH LLC. On June 10, 2013, we acquired the Advisor and the Property Manager from AH LLC in exchange for 4,375,000 Series D units and 4,375,000 Series E units in the Operating Partnership. Under the terms of the contribution agreement, all administrative, financial, property management, marketing and leasing personnel, including executive management, became fully dedicated to us (see Note 11).
	Prior to the Management Internalization, AH LLC exercised control over the Company through the contractual rights provided to the Advisor through an advisory management agreement. Accordingly, the contribution of certain properties by AH LLC to the Company prior to the Management Internalization have been deemed to be transactions between entities under common control, and as such, the accounts relating to the properties contributed have been recorded by us as if they had been acquired by us on the dates such properties were acquired by AH LLC (see Note 10). Accordingly, the consolidated financial statements include AH LLC's historical results of operations and carrying values of the properties that had been acquired by AH LLC. AH LLC commenced acquiring these properties on June 23, 2011, and accordingly, the statements of operations reflect activity prior to the Company's date of formation. Therefore, the consolidated financial statements are not indicative of the Company's past or future results and do not reflect its financial position, results of operations, changes in equity, and cash flows had they been presented as if the Company had been operated independently during the periods presented.

Significant_accounting_policie

Significant accounting policies	12 Months Ended
	Dec. 31, 2014
Significant accounting policies
Significant accounting policies	Note 2. Significant accounting policies
	Basis of Presentation
	The consolidated financial statements include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates variable interest entities ("VIEs") in accordance with ASC 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Ownership interests in certain consolidated subsidiaries of the Company held by outside parties are included in noncontrolling interest in the consolidated financial statements. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made.
	Use of Estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Income Taxes
	We have elected to be taxed as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986 (the "Code"), which commenced with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Accordingly, we will not be subject to federal income tax, provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income.
	However, qualification and taxation as a REIT depends upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year, we will be subject to federal and state income tax (including any applicable alternative minimum tax) on our taxable income at regular corporate tax rates, and we may be ineligible to qualify as a REIT for four subsequent tax years. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed taxable income, if any. Our taxable REIT subsidiary will be subject to federal, state and local taxes on its income at regular corporate rates. The tax years from 2012 through 2014 remain open to examination by the taxing jurisdictions to which the Company is subject.
	ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full authority of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the "more likely than not" threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2014, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months.
	Investments in Real Estate
	Transactions in which single-family properties that are not subject to an existing lease are purchased are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Single-family properties that are acquired either subject to an existing lease or as part of a portfolio level transaction are treated as a business combination under ASC 805, Business Combinations, and, as such, are recorded at fair value, allocated to land, building and the existing lease, if applicable, based upon their fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures, and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company engages a third party valuation specialist to assist management in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions.
	The value of acquired lease related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (less than one year).
	The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property.
	We incur costs to prepare our acquired properties for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred.
	Single-family Properties Held for Sale and Discontinued Operations
	Single-family properties are classified as held for sale when they meet the applicable GAAP criteria, including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale within the consolidated balance sheets.
	The results of operations of leased and operating single-family properties that have either been sold or classified as held for sale, if material, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition. Gains on dispositions of single-family properties that have been in operation are included in "Income from discontinued operations," whereas gains on dispositions of single-family properties with no historical or immaterial operating results are included in other revenues within the consolidated statements of operations.
	As of December 31, 2014 and 2013, the Company had 26 and 44 single-family properties, respectively, classified as held for sale. These properties did not have material historical operating results under the Company's ownership.
	Impairment of Long-lived Assets
	We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date. No material impairments have been recorded for the years ended December 31, 2014, 2013 and 2012.
	Leasing Costs
	Direct and incremental costs incurred to lease properties are capitalized and amortized over the term of the leases, which generally have a term of one year. Prior to the Management Internalization, we paid the Property Manager a leasing fee equal to one-half of one month's rent for each lease.
	Depreciation and Amortization
	Depreciation is computed on a straight-line basis over the estimated useful lives of buildings and improvements. Buildings are depreciated over 30 years and improvements are depreciated over their estimated economic useful lives, generally 5 to 15 years. We consider the value of in-place leases in the allocation of the purchase price, and amortize such amounts on a straight-line basis over the remaining terms of the leases. The unamortized portion of the value of in-place leases is included in deferred costs and other intangibles, net within the consolidated balance sheets.
	Intangible Assets
	Intangible assets are amortized on a straight-line basis over the asset's estimated economic life and are tested for impairment based on undiscounted cash flows and, if impaired, are written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization are amortized over amortizable lives of 4.7 years for trademark and 7.0 years for database.
	The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset. No impairments have been recorded as of December 31, 2014 and 2013.
	Goodwill
	Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired as part of the Management Internalization (see Note 11). Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other, which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether the two-step impairment test is necessary. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the first step of the two-step goodwill impairment test. The first step in the impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds fair value, the second step is required to determine the amount of the impairment loss by comparing the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. Impairment charges, if any, are recognized in operating results. No goodwill impairments have been recorded during the years ended December 31, 2014, 2013 and 2012.
	Deferred Financing Costs
	Financing costs related to the origination of the Company's credit facility and asset-backed securitizations are deferred and amortized as interest expense on an effective interest method over the contractual term of the applicable financing, and have been included in deferred costs and other intangibles, net within the consolidated balance sheets.
	Cash and Cash Equivalents
	We consider all demand deposits, cashier's checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant.
	Restricted Cash
	Restricted cash primarily consists of funds held related to resident security deposits and cash reserves in accordance with certain loan agreements.
	Escrow Deposits
	Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risk and rewards of ownership of the property are transferred and the purchase is finalized.
	Nonperforming Loans
	The Company has purchased nonperforming loans for the primary purpose of converting the underlying real estate into single-family rental properties through foreclosure or other form of resolution. Prior to foreclosure or resolution, nonperforming loans are carried at cost and placed on nonaccrual status as it is probable that the principal or interest is not fully collectible. Upon converting a nonperforming loan into a home through foreclosure or other form of resolution, it continues to be carried at cost and is moved into single-family properties in the consolidated balance sheets. As of December 31, 2014, the Company had a total investment of $50.4 million in 352 nonperforming loans, which is included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets.
	Allowance for Doubtful Accounts
	We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of tenants to make required rent or other payments. This allowance is estimated based on, among other considerations, payment histories, overall delinquencies and available security deposits. The Company's allowance for doubtful accounts was $0.5 million and $1.2 million as of December 31, 2014 and 2013, respectively, and included in rent and other receivables, net within the consolidated balance sheets.
	Rescinded Properties
	In certain jurisdictions, our purchases of single-family properties at foreclosure and judicial auctions are subject to the right of rescission. When we are notified of a rescission, the amount of the purchase price is reclassified as a receivable. As of December 31, 2014 and 2013, rescission receivables totaled $1.1 million and $1.3 million, respectively, and have been included in rent and other receivables, net within the consolidated balance sheets.
	Revenue and Expense Recognition
	We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned.
	We accrue for property taxes and HOA assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period.
	Accounts Payable and Accrued Expenses
	Accounts payable and accrued expenses consists primarily of trade payables, resident security deposits, construction liabilities, HOA fees and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure.
	Share-based Compensation
	Our 2012 Equity Incentive Plan is accounted for under the provisions of ASC 718, Compensation—Stock Compensation. Noncash share-based compensation expense related to options to purchase our Class A common shares and restricted stock units issued to members of our board of trustees and employees is based on the fair value of the options and restricted stock units on the grant date and amortized over the service period.
	Fair Value of Financial Instruments
	The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
	•	Level 1—Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets;
	•	Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and
	•	Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	The carrying amount of rent and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. The Company's interest rate cap agreement, contingently convertible series E units liability and preferred shares derivative liability are the only financial instruments recorded at fair value on a recurring basis within our consolidated financial statements (see Note 15).
	Derivatives
	We currently use, and in the future may use, interest rate cap agreements for interest rate risk management purposes and in conjunction with certain LIBOR-based variable rate debt to satisfy lender requirements. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense. The ineffective portion of the change in fair value of our interest rate cap agreements is required to be recognized directly in earnings.
	Allocated General and Administrative Expense
	Allocated general and administrative expense represents general and administrative expenses incurred by AH LLC that are either clearly applicable to or have been reasonably allocated to the operations of the properties contributed by AH LLC in connection with the 2012 Offering and the 2,770 Property Contribution. In making these allocations, we have considered the guidance of SEC Staff Accounting Bulletin Topic 1B. We have allocated expenses for each operating division of AH LLC based on an allocation methodology we believe is reasonable for such operating division. Allocations have been based on the estimated portion of AH LLC's overall activity associated with the properties contributed by AH LLC in connection with the 2012 Offering and the 2,770 Property Contribution. In general, the operating metric utilized in making these allocations was the number of single-family properties. Allocated general and administrative expenses were $1.0 million and $6.9 million for the years ended December 31, 2013 and 2012, respectively, and includes salaries, rent, consulting services, travel expenses, temporary services, and accounting and legal services. Management believes that the allocation methodology used to allocate general and administrative expense for the years ended December 31, 2013, and 2012, results in a reasonable estimate for allocated general and administrative expense.
	Segment Reporting
	Under the provision of ASC 280, Segment Reporting, the Company has determined that it has one reportable segment with activities related to acquiring, renovating, leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level. The Company did not have any geographic market concentrations representing over 10% of total net book value of single-family properties as of December 31, 2014.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements, Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity, which changes the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations such as a major line of business, major geographic area or a major equity method investment, should be presented as discontinued operations. In addition the new guidance will require expanded disclosures about discontinued operations that will provide more information about the assets, liabilities, income and expenses of discontinued operations. The guidance will be effective for all disposals of components (or classifications as held for sale) that occur within annual periods beginning on or after December 15, 2014, and is not expected to have a material impact on the Company's financial statements.
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance on revenue recognition and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, most industry-specific guidance and some cost guidance included in Subtopic 605-35, "Revenue Recognition—Construction-Type and Production-Type Contracts." The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These judgments may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2016, and for interim periods within those annual periods. At that time, the Company may adopt the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. The Company is currently evaluating the method of adoption of this guidance and does not anticipate that the adoption of this guidance will have a material impact on the Company's financial statements.

Singlefamily_properties

Single-family properties	12 Months Ended
	Dec. 31, 2014
Single-family properties
Single-family properties	Note 3. Single-family properties
	Single-family properties, net, consists of the following as of December 31, 2014 and 2013 (dollars in thousands):
		December 31, 2014
		Number of		Net book
		properties		value
	Leased single-family properties		28,250	$	4,631,797
	Single-family properties being renovated		2,886		476,120
	Single-family properties being prepared for re-lease		630		104,974
	Vacant single-family properties available for lease		2,807		493,962
	Single-family properties held for sale		26		3,818
	Total		34,599	$	5,710,671
		December 31, 2013
		Number of		Net book
		properties		value
	Leased single-family properties		17,328	$	2,914,947
	Single-family properties being renovated		2,463		348,571
	Single-family properties being prepared for re-lease		281		45,404
	Vacant single-family properties available for lease		3,152		545,931
	Single-family properties held for sale		44		6,569
	Total		23,268	$	3,861,422
	Single-family properties, net at December 31, 2014 and 2013, included $114.6 million and $120.6 million, respectively, related to properties for which the recorded grant deed has not been received. For these properties, the trustee or seller has warranted that all legal rights of ownership have been transferred to us on the date of the sale, but there is a delay for the deeds to be recorded.
	Depreciation expense related to single-family properties was $150.5 million, $60.3 million and $2.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. Included in single-family properties, net at December 31, 2014 and 2013, are certain single-family properties contributed by AH LLC (see Note 10).

Rent_and_Other_Receivables

Rent and Other Receivables	12 Months Ended
	Dec. 31, 2014
Rent and Other Receivables
Rent and Other Receivables	Note 4. Rent and Other Receivables
	Included in rent and other receivables, net is an allowance for doubtful accounts of $0.5 million and $1.2 million, as of December 31, 2014 and 2013, respectively. Also included in rent and other receivables, net, are receivables related to payments made on single-family properties for which sales have been rescinded or unwound due to legal issues beyond our control, totaling $1.1 million and $1.3 million as of December 31, 2014 and 2013, respectively, and other non-tenant receivables totaling $2.4 million and $0.2 million as of December 31, 2014 and 2013, respectively.
	We generally rent our single-family properties under non-cancelable lease agreements with a term of one year. Future minimum rental revenues under leases existing on our properties as of December 31, 2014 were as follows (in thousands):
	Year	December 31,
		2014
	2015	$	248,450
	2016		3,454
	2017		53
	Total	$	251,957

Deferred_costs_and_other_intan

Deferred costs and other intangibles	12 Months Ended
	Dec. 31, 2014
Deferred costs and other intangibles
Deferred costs and other intangibles	Note 5. Deferred costs and other intangibles
	Deferred costs and other intangibles, net, consists of the following as of December 31, 2014 and 2013 (in thousands):
		December 31,			December 31,
		2014			2013
	Deferred leasing costs	$	18,307		$	12,526
	Deferred financing costs		53,013			12,147
	Intangible assets:
	Value of in-place leases		10,468			6,085
	Trademark		3,100			3,100
	Database		2,100			2,100
			86,988			35,958
	Less: accumulated amortization		(32,406	)		(15,385	)
	Total	$	54,582		$	20,573
	Amortization expense related to deferred leasing costs, the value of in-place leases, trademark and database was $15.1 million, $10.7 million and zero for the years ended December 31, 2014, 2013 and 2012, respectively, which has been included in depreciation and amortization expense within the consolidated statements of operations. Amortization of deferred financing costs was $4.6 million, $3.7 million and zero for the years ended December 31, 2014, 2013 and 2012, respectively, which has been included in gross interest, prior to interest capitalization (see Note 6).
	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2014, for future periods (in thousands):
	Year	Deferred			Deferred			Value of		Trademark		Database
		Leasing			Financing			In-place
		Costs			Costs			Leases
	2015	$	3,417		$	7,859		$	2,760	$	660	$	300
	2016		—			7,881			3		660		300
	2017		—			6,524			—		660		300
	2018		—			6,054			—		91		300
	2019		—			3,901			—		—		432
	Thereafter		—			12,480			—		—		—
	Total	$	3,417		$	44,699		$	2,763	$	2,071	$	1,632

Debt

Debt	12 Months Ended
	Dec. 31, 2014
Debt
Debt	Note 6. Debt
	The following table presents the Company's debt as of December 31, 2014 and 2013 (in thousands):
		December 31,			December 31,
		2014			2013
	2014-SFR1 securitization	$	478,565		$	—
	2014-SFR2 securitization		512,435			—
	2014-SFR3 securitization		528,390			—
	Total asset-backed securitizations		1,519,390			—
	Note payable		51,644			—
	Credit facility		207,000			375,000
	Total debt	$	1,778,034		$	375,000
	Asset-backed Securitizations
	May 2014 Securitization
	In May 2014, we completed a private securitization transaction (the "2014-SFR1 securitization") in which a newly-formed special purpose entity (the "Borrower") entered into a loan with a third-party lender for $481.0 million represented by a promissory note (the "Note"). In addition, the Company entered into an interest rate cap agreement for the initial two year term of the loan, with a LIBOR based strike rate equal to 3.85%. The Borrower under the loan is wholly owned by another special purpose entity (the "Equity Owner") and the Equity Owner is wholly owned by the Operating Partnership. The loan is a two-year, floating rate loan, comprised of six floating rate components computed monthly based on one month LIBOR for each interest period plus a fixed component spread for each of the six components resulting in a duration-weighted blended interest rate of LIBOR plus 1.54%, subject to a LIBOR floor of 0.25%. The Note requires monthly payments of interest together with principal payments representing one-twelfth of one percent of the original principal amount.
	The loan may be extended for three, 12-month extensions at the Borrower's option, resulting in a fully extended maturity date of June 9, 2019, provided there is no event of default under the Loan Agreement, the Borrower obtains a replacement interest rate cap agreement in a form reasonably acceptable to Lender and the Borrower complies with the other terms set forth in the Loan Agreement.
	The Note was immediately transferred by the third-party lender to a subsidiary of the Company and then to a REMIC trust in exchange for seven classes of single-family rental pass-through certificates representing all the beneficial ownership interests in the loan and the trust. Upon receipt of the certificates, a subsidiary of the Company sold the certificates to investors for gross proceeds of $481.0 million, before issuance costs of $14.9 million. Proceeds from this transaction were used to pay down the outstanding balance on the credit facility. The principal amount of each class of certificates corresponds to the corresponding principal amount of the loan components with an additional class to hold the residual REMIC interest.
	The loan is secured by first priority mortgages on a pool of 3,852 homes transferred to the Borrower from the Company's portfolio of properties. The Borrower's homes were substantially similar to the other properties owned by the Company and were leased to tenants underwritten on substantially the same basis as the tenants in the Company's other properties. During the duration of the loan, the Borrower's properties may not generally be transferred, sold or otherwise securitized, the Company can substitute properties only if a property owned by the Borrower becomes a disqualified property under the terms of the loan, and the Borrower is limited in its ability to incur any additional indebtedness.
	The loan is also secured by a security interest in all of the Borrower's personal property and a pledge of all of the assets of the Equity Owner, including a security interest in its membership interest in the Borrower. The Company provides a limited guaranty (i) for certain losses arising out of designated acts of intentional misconduct and (ii) for the principal amount of the loan and all other obligations under the loan agreement in the event of insolvency or bankruptcy proceedings.
	The loan agreement provides that the Borrower maintain covenants typical for securitization transactions including establishing and maintaining a cash management account controlled by the lender to collect all rents and cash generated by the Borrower's properties. In the absence of an event of default, the Borrower will receive any excess cash after payment of monthly interest, principal and property related expenses. Upon the occurrence of an event of default under the loan or if the Borrower does not maintain a debt yield (net cash flow divided by the outstanding principal balance of the loan) on the portfolio of at least 6.68%, the lender may transfer the excess cash to an account which lender may apply any funds as the lender elects, including to prepay principal and pay any amounts due under the loan. The lender may also foreclose on its security interests, in limited circumstances may enforce the Company's guaranty and may appoint a new property manager. As of December 31, 2014, the Company was in compliance with all covenants under the loan agreement.
	The Company has accounted for the transfer of the Note from its subsidiary to the trust as a sale under ASC 860, Transfers and Servicing, with no resulting gain or loss as the Note was both originated by the third party lender and immediately transferred at the same fair market value. The Company has also evaluated and not identified any variable interests in the trust. Accordingly, the Company continues to consolidate, at historical cost basis, the 3,852 homes placed as collateral for the Note and has recorded a $478.6 million asset-backed securitization liability, representing the principal balance outstanding on the Note as of December 31, 2014, in the consolidated balance sheets. The 3,852 collateral homes had a net book value of $627.0 million as of December 31, 2014.
	The interest rate cap agreement entered into as part of the securitization transaction has been formally designated as a cash flow hedge at inception and will be regularly assessed for effectiveness on an ongoing basis. During the year ended December 31, 2014, the Company's interest rate cap agreement was 100% effective as a cash flow hedge and, as a result, changes in fair value have been classified in accumulated other comprehensive loss. These amounts will subsequently be reclassified into earnings in the period in which the hedged transaction affects earnings. Over the next 12 months, the Company estimates that $0.1 million will be reclassified as an increase to interest expense. The fair value of the interest rate cap agreement is estimated to be $0.01 million as of December 31, 2014, (see Note 15) and has been included in escrow deposits, prepaid expenses and other assets in the consolidated balance sheets.
	As the 2014-SFR1 securitization bears variable interest at LIBOR plus 1.54% and was recently entered into on May 21, 2014, management believes that the carrying value of the 2014-SFR1 securitization as of December 31, 2014, reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).
	September 2014 Securitization
	In September 2014, we completed our second securitization transaction (the "2014-SFR2 securitization"), which was structured substantially similar to the 2014-SFR1 securitization. The principal differences from the 2014-SFR1 securitization are: (1) the loan is a fixed rate loan for $513.3 million with a ten year term, maturity date of October 9, 2024, and a duration-adjusted weighted-average interest rate of 4.42%, (2) no interest rate cap agreement was part of the transaction, (3) the loan is secured by first priority mortgages on a portfolio of 4,487 single-family residential properties owned by the borrower, a subsidiary of the Company and (4) in lieu of a debt yield requirement, the loan agreement provides that if the borrower does not maintain a debt service coverage ratio of at least 1.20 to 1.00, the lender may transfer cash to an account from which the lender may apply funds as it elects, including prepayment of the loan and principal. The loan agreement defines the debt service coverage ratio as of any determination date as a ratio in which the numerator is the net cash flow (as defined in the loan agreement) divided by the aggregate debt service for the twelve month period following the date of determination. Also, in addition to the single-family rental pass-through certificates sold to third parties, the Company acquired all of the Class F certificates, which bear no interest, for $25.7 million. Gross proceeds to the Company from the 2014-SFR2 securitization, after purchase of the Class F certificates, were $487.7 million, before issuance costs of $12.9 million. Proceeds from this transaction were used to pay down the outstanding balance on the credit facility and for general corporate purposes.
	The Company has accounted for the transfer of the 2014-SFR2 securitization promissory note to the trust as a sale under ASC 860 with no resulting gain or loss as the note was both originated by the third-party lender and immediately transferred at the same fair market value. The Company has also evaluated the purchased Class F certificates as a variable interest in the trust and has concluded that the Class F certificates will not absorb a majority of the trust's expected losses or receive a majority of the trust's expected residual returns. Additionally, the Company has concluded that the Class F certificates do not provide the Company with any ability to direct activities that could impact the trust's economic performance. Accordingly, the Company does not consolidate the trust and continues to consolidate, at historical cost basis, the 4,487 homes placed as collateral for the note and has recorded a $512.4 million asset-backed securitization liability, representing the principal balance outstanding on the note as of December 31, 2014, in the consolidated balance sheets. Separately, the $25.7 million of purchased Class F certificates have been reflected as asset-backed securitization certificates in the consolidated balance sheets. The 4,487 collateral homes had a net book value of $692.6 million as of December 31, 2014.
	As of December 31, 2014, the Company was in compliance with all covenants under the loan agreement. Additionally, as the 2014-SFR2 securitization was recently entered into on September 19, 2014, management believes that the carrying value of the 2014-SFR2 securitization reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).
	November 2014 Securitization
	In November 2014, we completed our third securitization transaction (the "2014-SFR3 securitization"), which was structured substantially similar to the 2014-SFR2 securitization. The principal differences from the 2014-SFR2 securitization are: (1) the loan is a fixed rate loan for $528.4 million with a ten year term, maturity date of December 9, 2024, and a duration-adjusted weighted-average interest rate of 4.40%, (2) the loan is secured by first priority mortgages on a portfolio of 4,503 single-family residential properties owned by the borrower, a subsidiary of the Company and (3) the Company did not acquire any of the certificates associated with this transaction. Gross proceeds to the Company from the 2014-SFR3 securitization were $528.4 million, before issuance costs of $12.9 million. Proceeds from this transaction were used to pay down the outstanding balance on the credit facility and for general corporate purposes. The Company consolidates, at historical cost basis, the 4,503 homes placed as collateral for the Note and has recorded a $528.4 million asset-backed securitization liability, representing the principal balance outstanding on the Note as of December 31, 2014, in the consolidated balance sheets. The 4,503 collateral homes had a net book value of $752.8 million as of December 31, 2014.
	As of December 31, 2014, the Company was in compliance with all covenants under the loan agreement. Additionally, as the 2014-SFR3 securitization was recently entered into on November 25, 2014, management believes that the carrying value of the 2014-SFR3 securitization reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).
	Note Payable
	As part of the Ellington Portfolio Acquisition on December 31, 2014, the Company assumed a $51.6 million note payable. The debt consists of a 5-year note payable, which is secured by a first priority mortgage on 583 of the homes acquired as part of the Ellington Portfolio Acquisition, bears interest at 4.06%, matures on July 1, 2019, and contains certain required covenants, including a minimum debt service coverage ratio of 1.56 to 1.00.
	Credit facility
	On March 7, 2013, we entered into a $500 million senior secured revolving credit facility with a financial institution. On September 30, 2013, we amended our credit facility to, among other things, expand our borrowing capacity to $800 million and extend the repayment period to September 30, 2018. The amount that may be borrowed under the credit facility will generally be based on 50% of the lower of cost or the fair value of our qualifying leased and un-leased properties and certain other measures based in part on the net income generated by our qualifying leased and un-leased properties, which is referred to as the "Borrowing Base." Borrowings under the credit facility are available through March 7, 2015, which may be extended for an additional year, subject to the satisfaction of certain financial covenant tests. Upon expiration of the credit facility period, any outstanding borrowings will convert to a term loan through September 30, 2018. All borrowings under the credit facility bear interest at 30 day LIBOR plus 2.75% until March 2017, and thereafter at 30 day LIBOR plus 3.125%. The Company currently anticipates extending the credit facility period for an additional year, on or before March 7, 2015.
	The credit facility is secured by our Operating Partnership's membership interests in entities that own certain of our single-family properties and requires that we maintain financial covenants relating to the following matters: (i) minimum liquidity of cash, cash equivalents and borrowing capacity under any credit facilities in an aggregate amount of at least $15.0 million, of which at least $7.5 million must be in cash and cash equivalents; (ii) a maximum leverage ratio of 1.0 to 1.0; and (iii) tangible net worth of not less than the sum of 85% of our tangible net worth as of September 30, 2013, plus 85% of the net proceeds of any additional equity capital raises completed on or after December 31, 2014. As of December 31, 2014, the Company was in compliance with all loan covenants and had $207.0 million in total outstanding borrowings under the credit facility. Management believes that the carrying value of the credit facility as of December 31, 2014, reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).
	Interest Expense
	The following table outlines our total gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the years ended December 31, 2014, 2013 and 2012 (in thousands):
		For the Years Ended December 31,
		2014			2013			2012
	Gross interest cost	$	33,077		$	10,016		$	—
	Capitalized interest		(13,196	)		(9,646	)		—
	Interest expense	$	19,881		$	370		$	—

Accounts_payable_and_accrued_e

Accounts payable and accrued expenses	12 Months Ended
	Dec. 31, 2014
Accounts payable and accrued expenses
Accounts payable and accrued expenses	Note 7. Accounts payable and accrued expenses
	The following table summarizes accounts payable and accrued expenses as of December 31, 2014 and 2013 (in thousands):
		December 31,		December 31,
		2014		2013
	Accounts payable	$	4,925	$	901
	Accrued property taxes		49,018		28,240
	Other accrued liabilities		28,972		21,538
	Accrued distribution payable		—		9,274
	Accrued construction and maintenance liabilities		23,914		16,917
	Resident security deposits		42,877		26,527
	Total	$	149,706	$	103,397

Shareholders_equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2014
Shareholders' equity.
Shareholders' equity	Note 8. Shareholders' equity
	Class A common shares
	In connection with the Management Internalization in 2013 (see Note 11), we entered into a registration rights agreement with AH LLC providing for registration rights exercisable after December 10, 2015. After June 10, 2015, if we are eligible to file a shelf registration statement, AH LLC will have the right to request that we file and maintain a shelf registration statement to register for resale the Class A common shares and securities convertible into Class A common shares that are held by AH LLC. AH LLC also has a right to "piggy-back" registration rights to include the Class A common shares and securities convertible into Class A common shares that AH LLC owns in other registration statements that we may initiate.
	In connection with the Alaska Joint Venture Acquisition in 2013 (see Note 11), we entered into a registration rights agreement with APFC. Pursuant to the terms of such agreement, we filed and will maintain a shelf registration statement with the SEC that registers for resale the Class A common shares acquired by APFC in connection with the Alaska Joint Venture Acquisition. APFC also has a right to "piggy-back" registration in the event we conduct future offerings of Class A common shares for our own behalf.
	In November and December 2012, and March 2013, the Company sold 35,360,898 and 46,718,750 Class A common shares in connection with the 2012 Offering and 2013 Offering, respectively. In August 2013, the Company sold an additional 55,422,794 Class A common shares in connection with the IPO and the 2013 Concurrent Private Placements.
	In July 2014, the Company issued 8,158,001 Class A common shares, $0.01 par value per share, in connection with the acquisition of Beazer Rental Homes (see Note 11).
	In August 2014, the Company issued 17,782,861 Class A common shares, $0.01 par value per share, in an underwritten public offering and concurrent private placement, which raised gross proceeds of $313.3 million before offering costs of $4.9 million.
	Our board of trustees declared distributions that totaled $0.20 per share and $0.05 per share on our Class A common shares during the years ended December 31, 2014 and 2013, respectively.
	Class B common shares
	AH LLC received a total of 635,075 shares of Class B common shares in our Company in connection with its investment in the 2012 Offering and the 2,770 Property Contribution (see Note 10). Each Class B common share generally entitles the holder to 50 votes on all matters that the holders of Class A common shares are entitled to vote. The issuance of Class B common shares to AH LLC allows AH LLC a voting right associated with its investment in the Company no greater than if it had solely received Class A common shares. Additionally, when the voting interest from Class A common shares and Class B common shares are added together, a shareholder is limited to a 30% total voting interest. Each Class B common share has the same economic interest as a Class A common share. Our board of trustees declared distributions that totaled $0.20 per share and $0.05 per share on our Class B common shares during the years ended December 31, 2014 and 2013, respectively.
	Participating preferred shares
	Participating preferred shares represent non-voting preferred equity interests in our Company and entitle holders to a cumulative annual cash dividend equal to 5.0% of an initial liquidation preference of $25 per share. Any time between September 30, 2017 and September 30, 2020 (the "initial redemption period"), the Company has the option to redeem the preferred shares for cash or Class A common shares, at a redemption price equal to the initial liquidation preference, adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets (the "HPA adjustment"). During the initial redemption period, the amount payable upon redemption will be subject to a cap, such that the total internal rate of return, when considering the initial liquidation preference, the HPA adjustment and dividends up to, but excluding, the date of redemption, will not exceed 9.0%. If not redeemed by the end of the initial redemption period, the initial liquidation preference of $25 per share will be adjusted by the HPA adjustment as of September 30, 2020, (the "adjusted liquidation preference") and the cumulative annual cash dividend rate will be prospectively increased to 10% of the adjusted liquidation preference. Any time after September 30, 2020, the Company has the option to redeem the preferred shares for cash or Class A common shares, at a redemption price equal to the adjusted liquidation preference. Because the HPA adjustment meets the definition of a derivative under ASC 815, Derivatives and Hedging, and is not clearly and closely related to the economic characteristics and risks of the underlying preferred shares, the fair value of the HPA adjustment has been reflected as a liability in the consolidated balance sheets and is adjusted to fair value each period and included in remeasurement of preferred shares in the consolidated statements of operations (see Note 15).
	In October 2013, the Company issued 5,060,000 5.0% Series A participating preferred shares in an underwritten public offering, which raised gross proceeds of $126.5 million before offering costs of $7.3 million.
	In December 2013 and January 2014, the Company issued 4,400,000 5.0% Series B preferred shares in an underwritten public offering which raised gross proceeds of $110.0 million before offering costs of $6.6 million.
	In May 2014, the Company issued 7,600,000 5.5% Series C participating preferred shares in an underwritten public offering and concurrent private placement, raising gross proceeds of $190.0 million before offering costs of $9.7 million.
	As of December 31, 2014, the initial liquidation preference, as adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets, for all of the Company's outstanding 5.0% Series A participating preferred shares, 5.0% Series B participating preferred shares and 5.5% Series C participating preferred shares was $441.7 million.
	Our board of trustees declared distributions that totaled $1.25 per share, $1.2875 per share and $0.912847 per share on our 5.0% Series A participating preferred shares, 5.0% Series B participating preferred shares and 5.5% Series C participating preferred shares, respectively, during the year ended December 31, 2014. Distributions declared on our 5.0% Series A participating preferred shares totaled $0.229167 per share for the year ended December 31, 2013.
	Class A units
	Class A units represent voting equity interests in the Operating Partnership. Holders of Class A units in the Operating Partnership have the right to redeem the units for cash or, at the election of the Company, exchange the units for the Company's Class A common shares on a one-for-one basis. The Company owned 93.6% and 93.1% of the total 225,914,576 and 199,291,586 Class A units outstanding as of December 31, 2014 and 2013, respectively.
	Series C convertible units
	Series C convertible units represent voting equity interests in the Operating Partnership. Holders of the Series C convertible units are entitled to distributions equal to the actual net cash flow from a portfolio of 2,770 single-family properties contributed to the Company by AH LLC on February 28, 2013 (see Note 9), up to a maximum of 3.9% per unit per annum based on a price per unit of $15.50, but will not be entitled to any distributions of income generated by any other properties or operations of our company or any liquidating distributions. Since the date of issuance of the Series C units, net cash flow from the properties contributed to the Company exceeded 3.9% per annum, providing the payment of the maximum amount of the preferred distribution. Holders of the Series C units have a one-time right to convert all such units into Class A units on a unit for unit basis. If on the date of conversion, the contributed properties had not been initially leased for at least 98% of the scheduled rents (determined on an aggregate basis), then the Series C units with respect to the single-family properties leased for at least 98% of the scheduled rents (determined on an aggregate basis) will convert into Class A units, and the Series C units associated with the remaining single-family properties will convert into a number of Class A units determined by dividing the original aggregate cost of the properties (including the acquisition fees) by $15.50, with proportionate reduction in Class B common shares. If the Series C units have not been converted by the earlier of the third anniversary of the original issue date or the date of commencement of a dissolution or liquidation, then the Series C units will automatically convert into Class A units at the specified conversion ratio defined above. As of December 31, 2014, AH LLC owned all of the 31,085,974 outstanding Series C convertible units. Our board of trustees declared distributions that totaled $0.60452 per share and $0.15113 per share on our Series C convertible units during the years ended December 31, 2014 and 2013, respectively.
	Series D convertible units
	Series D convertible units represent non-voting equity interests in the Operating Partnership. Holders of the Series D convertible units do not participate in any distributions for 30 months from the date of issuance and do not participate in any liquidating distributions at any point in time. The Series D units are automatically convertible into Class A units on a one-for-one basis only after the later of (1) 30 months after the date of issuance and (2) the earlier of (i) the date on which adjusted funds from operations per Class A common share aggregates $0.80 or more over four consecutive quarters following the closing of the Management Internalization or (ii) the date on which the daily closing price of our Class A common shares on the NYSE averages $18.00 or more for two consecutive quarters following the closing of the Management Internalization. After 30 months, the Series D units will participate in distributions (other than liquidating distributions) at a rate of 70% of the per unit distributions on the Class A units. As of December 31, 2014 and 2013, AH LLC owned all of the 4,375,000 outstanding Series D units (see Note 11).
	Series E convertible units
	Series E convertible units represent non-voting equity interests in the Operating Partnership. Series E convertible units do not participate in any distributions and automatically convert into Series D units, or if the Series D units have previously converted into Class A units, into Class A units, on February 29, 2016, subject to an earn-out provision based on the level of pro forma annualized EBITDA contribution, as defined, of the Advisor and the Property Manager. Based on the terms of the earn-out provision, if pro forma annualized EBITDA contribution, as defined, equals or exceeds $28 million during the six-month period ending December 31, 2015 (the "measurement period"), the Series E units will convert into Series D units (or if the Series D units have previously converted into Class A units, into Class A units) on a one-for-one basis at February 29, 2016. If, during the measurement period, the pro forma annualized EBITDA contribution, as defined, is less than $28 million, the Series E units will convert into a number of Series D units (or if the Series D units have previously converted into Class A units, into Class A units) determined by (1) dividing (A) Pro Forma Annualized EBITDA Contribution during the Measurement Period less $14 million by (B) $14 million and (2) multiplying that result by 4,375,000. Series E units which are not converted at the end of the measurement period, if any, will be cancelled.
	Because the Series E units may potentially be settled by issuing a variable number of Series D units or Class A units, the Series E units have been recorded at fair value and reflected as a liability in accordance with ASC 480, Distinguishing Liabilities and Equity, in the consolidated balance sheets and are adjusted to fair value each period (see Note 15). As of December 31, 2014 and 2013, AH LLC owned all of the 4,375,000 outstanding Series E units (see Note 11).
	3.5% convertible perpetual preferred units
	In connection with the Company's acquisition of a Class B ownership interest in RJ American Homes 4 Rent Investments, LLC ("RJ LLC") on December 31, 2012 (see Note 11), the Company issued 653,492 3.5% convertible perpetual preferred units ("Preferred Units") to AH LLC. The Preferred Units represented non-voting equity interest in the Operating Partnership and entitled the holder to a preferred annual distribution equal to $0.525 per unit, when authorized and declared by the general partner of the Operating Partnership (i.e., the Company). Distributions accrued on a cumulative basis from the date of issuance and were payable quarterly.
	In connection with AH LLC's contribution of its remaining ownership interest in RJ LLC to the Company on June 14, 2013, all of the outstanding 653,492 Preferred Units held by AH LLC were converted into Class A units (see Note 11).
	Noncontrolling interest
	Noncontrolling interest as reflected in the Company's consolidated balance sheets primarily consists of the interest held by AH LLC in units in the Company's Operating Partnership. As of December 31, 2014 and 2013, AH LLC owned 14,440,670 and 13,787,292, or approximately 6.4% and 6.9%, respectively, of the total 225,914,576 and 199,291,586 Class A units in the Operating Partnership, respectively. Additionally, AH LLC owned all 31,085,974 Series C convertible units and all 4,375,000 Series D convertible units in the Operating Partnership as of December 31, 2014 and 2013. Also included in noncontrolling interest are outside ownership interests in certain consolidated subsidiaries of the Company.
	Noncontrolling interest as reflected in the Company's consolidated statements of operations for the years ended December 31, 2014 and 2013, primarily consisted of $18.6 million and $14.9 million, respectively, of preferred income allocated to Series C convertible units, zero and $0.2 million, respectively, of preferred income allocated to Preferred Units (prior to the date of conversion), $3.4 million and $1.8 million, respectively, of net loss allocated to Class A units, and $0.3 million and $0.1 million, respectively, of net loss allocated to noncontrolling interests in certain of the Company's consolidated subsidiaries. There was no noncontrolling interest for the year ended December 31, 2012.
	Subscription agreement
	In 2012, we entered into a subscription agreement with AH LLC under which AH LLC had the option to purchase 3,333,334 Class A common shares through November 21, 2015, for an aggregate purchase price of $50,000,000 ($15.00 per share), the price per share of our Class A common shares in the 2012 Offering.
	In 2013, the Company entered into an agreement with AH LLC to fully settle the subscription agreement based on a price of $17.25 per share, a price determined based on the most recent trade in the Company's shares at the time of settlement. Such settlement resulted in the issuance of 434,783 Class A common shares to AH LLC.
	2012 Equity Incentive Plan
	In 2012, we adopted the 2012 Equity Incentive Plan (the "Plan") to provide persons with an incentive to contribute to the success of the Company and to operate and manage our business in a manner that will provide for the Company's long-term growth and profitability. The Plan provides for the issuance of up to 1,500,000 Class A common shares through the grant of a variety of awards including stock options, stock appreciation rights, restricted stock, unrestricted shares, dividend equivalent rights and performance-based awards. The Plan terminates in November 2022, unless it is earlier terminated by the board of trustees. In April 2013, our shareholders approved an amendment to the Plan allowing for an increase in the maximum number of Class A common shares available for issuance from 1,500,000 to 6,000,000.
	In 2014, the Company granted stock options for 1,270,000 Class A common shares and 92,000 restricted stock units to certain employees of the Company. In 2013, the Company granted stock options for 550,000 Class A common shares to certain employees of the Company. In 2012, the Company granted stock options for 50,000 Class A common shares to members of our board of trustees of the Company. Also in 2012, the Company granted stock options for 650,000 Class A common shares to certain employees of AH LLC and its subsidiaries. Because these options were granted to nonemployees of the Company, noncash share-based compensation expense was initially recorded based on the estimated fair value of the options at grant date and was re-measured at the end of each period. As a result of the Management Internalization on June 10, 2013, certain former employees of AH LLC became employees of the Company and, accordingly, stock options for 485,000 Class A common shares were reclassified as grants to employees and re-measured as of the date of the Management Internalization.
	All of the options and restricted stock units granted during the years ended December 31, 2014, 2013 and 2012, vest over four years and expire 10 years from the date of grant. Noncash share-based compensation expense related to these options is based on the estimated fair value on the date of grant and is recognized in expense over the service period. Such expense is adjusted to consider estimated forfeitures. Estimated forfeitures are adjusted to reflect actual forfeitures at the end of the vesting period.
	The following table summarizes stock option activity under the Plan for the years ended December 31, 2014, 2013 and 2012:
			Shares			Weighted-			Weighted-			Aggregate
						Average			Average			Intrinsic
						Exercise Price			Remaining			Value (1)
									Contractual			(in thousands)
									Life (in years)
	Options outstanding at December 31, 2011			—		$	—			—		$	—
	Granted			700,000			15
	Exercised			—			—
	Forfeited			—			—
	Options outstanding at December 31, 2012			700,000		$	15			9.9		$	—	(2)
	Granted			550,000			16.03
	Exercised			—			—
	Forfeited			(60,000	)		15
	Options outstanding at December 31, 2013			1,190,000		$	15.48			9.3		$	862
	Granted			1,270,000			16.74
	Exercised			(28,750	)		15						74
	Forfeited			(266,250	)		15.88
	Options outstanding at December 31, 2014			2,165,000		$	16.17			8.8		$	1,890
	Options exercisable at December 31, 2014			375,000		$	15.31			8.2		$	645
	-1	Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of 2014 of $17.03 for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
	-2	Prior to August 1, 2013, there was no public trading market for our Class A common shares.
	The following table summarizes the Black-Scholes Option Pricing Model inputs used for valuation of the stock options for Class A common shares issued during the years ended December 31, 2014, 2013 and 2012:
			2014			2013			2012
	Weighted-average fair value		$	5.06		$	4.75		$	4.52
Expected term (years)			7.0			7.0			7.0
Dividend yield			3.0	%		3.0	%		3.0	%
Volatility			38.5	%		38.0	%		38.0	%
Risk-free interest rate			2.2	%		2.0	%		2.5	%
The following table summarizes the activity that relates to the Company's restricted stock units under the Plan for the years ended December 31, 2014, 2013 and 2012:
		2014			2013			2012
Restricted stock units at beginning of period			—			—			—
Units awarded			92,000			—			—
Units released			—			—			—
Units forfeited			(7,000	)		—			—
Restricted stock units at end of the period			85,000			—			—
Total non-cash share-based compensation expense related to stock options and restricted stock units was $2.6 million, $0.8 million and $0.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. Also included in noncash share-based compensation expense for the year ended December 31, 2013, was $0.3 million associated with 19,500 Class A common shares issued to our trustees during 2013.
As of December 31, 2014, there was a total unrecognized compensation cost of $7.1 million for unvested stock options and $1.1 million for unvested restricted stock and restricted stock units, which does not include estimated forfeitures. The unrecognized compensation cost for unvested stock options and restricted stock and restricted stock units is expected to be recognized over a weighted-average period of 2.8 and 3.1 years, respectively.

Related_party_transactions

Related party transactions	12 Months Ended
	Dec. 31, 2014
Related party transactions
Related party transactions	Note 9. Related party transactions
	As of December 31, 2014 and 2013, AH LLC owned approximately 3.3% and 3.7% of our outstanding Class A common shares, respectively. On a fully-diluted basis, AH LLC held (including consideration of 635,075 Class B common shares as of December 31, 2014 and 2013, 14,440,670 and 13,787,292 Class A common units as of December 31, 2014 and 2013, respectively, 31,085,974 Series C convertible units as of December 31, 2014 and 2013, 4,375,000 Series D units as of December 31, 2014 and 2013, 4,375,000 Series E units as of December 31, 2014 and 2013) an approximate 21.8% and 24.6% interest at December 31, 2014 and 2013, respectively.
	As of December 31, 2014, the Company had a net receivable of $4.0 million due from AH LLC, which has been included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. This amount primarily consists of receivables due from AH LLC related to working capital settlement items.
	As of December 31, 2013, the Company had a net receivable of $4.5 million due from AH LLC, which has been included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. This amount consists of receivables due from AH LLC related to the estimated net monetary asset reconciliations associated with the Management Internalization and Alaska Joint Venture Acquisition (see Note 11) and other expense reimbursements, offset by amounts payable to AH LLC related to accrued and unpaid acquisition fees and declared and unpaid distributions on the Series C convertible units (see Note 8).
	Advisory management agreement
	In November 2012, the Company entered into an advisory management agreement with the Advisor under which the Advisor was responsible for designing and implementing our business strategy and administering our business activities and day-to-day operations, subject to the oversight by our board of trustees. For performing these services, we paid the Advisor an advisory management fee equal to 1.75% per year of adjusted shareholders' equity, as defined, calculated and paid quarterly in arrears. Additionally, concurrently with the contribution of a portfolio of 2,770 single-family properties on February 28, 2013, the Advisor agreed to a permanent reduction in the advisory management fee equal to $9.8 million per year (see Note 10). Upon completion of the Management Internalization on June 10, 2013 (see Note 11), the Advisor became a wholly owned subsidiary of our Operating Partnership and accordingly, there will be no future advisory management fees in our consolidated statements of operations.
	For the year ended December 31, 2013, advisory management fees incurred to the Advisor prior to the Management Internalization were $6.4 million. As of December 31, 2012, accrued advisory management fees were $0.9 million, which have been included in amounts payable to affiliates in the consolidated balance sheets.
	Property Management Agreement
	In November 2012, the Company entered into a property management agreement with the Property Manager under which the Property Manager generally oversaw and directed the leasing, management and advertising of the properties in our portfolio, including collecting rents and acting as liaison with the tenants. We paid our Property Manager a property management fee equal to 6% of collected rents and a leasing fee equal to one-half month of each lease's annual rent. Upon completion of the Management Internalization on June 10, 2013 (see Note 11), the Property Manager became a wholly owned subsidiary of our Operating Partnership and accordingly, there will be no future property management fees incurred to the Property Manager in our consolidated statements of operations.
	For the years ended December 31, 2013 and 2012, property management fees incurred to the Property Manager prior to the Management Internalization were $1.3 million and $12,000, respectively, which have been included in property operating expenses in the consolidated statements of operations. For the years ended December 31, 2013 and 2012, leasing fees incurred to the Property Manager prior to the Management Internalization were $2.9 million and $0.1 million, respectively, which have been included in deferred costs and other intangibles, net in the consolidated balance sheets.
	Agreement on Investment Opportunities
	In November 2012, the Company entered into an Agreement on Investment Opportunities with AH LLC under which we paid an acquisition and renovation fee equal to 5% of all costs and expenses we incur in connection with the initial acquisition, repair and renovation of single-family properties (net of any broker fees received by the Property Manager) for its services in identifying, evaluating, acquiring and overseeing the renovation of the properties we purchase. In connection with the Management Internalization on June 10, 2013, (see Note 11), we entered into an Amended and Restated Agreement on Investment Opportunities. Under the terms of the Amended and Restated Agreement on Investment Opportunities, on December 10, 2014, AH LLC ceased providing acquisition and renovation services for us, we stopped paying AH LLC an acquisition and renovation fee, we hired all of AH LLC's acquisition and renovation personnel necessary for our operations and AH LLC ceased paying the Company a monthly fee of $0.1 million for the maintenance and use of certain intellectual property transferred to us in the Management Internalization.
	During the years ended December 31, 2014, 2013 and 2012, we incurred $86.0 million, $113.7 million and $4.6 million in aggregate acquisition and renovation fees to AH LLC prior to the termination of the Amended and Restated Agreement on Investment Opportunities, $67.5 million, $108.9 million and $4.2 million of which has been capitalized related to asset acquisitions and included in the cost of the single-family properties, and $22.1 million, $4.8 million and $0.4 million has been expensed related to property acquisitions with in-place leases, respectively. As of December 31, 2013, accrued and unpaid acquisition and renovation fees were $2.6 million, which have been included net of certain amounts due from AH LLC, and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets.
	Employee Administration Agreement
	In connection with the Management Internalization on June 10, 2013 (see Note 11), we entered into an employee administration agreement with Malibu Management, Inc. ("MMI"), an affiliate of AH LLC, to obtain the exclusive services of personnel of the Advisor and the Property Manager, who were previously employees of MMI under the direction of AH LLC. Under the terms of the agreement, we obtained the exclusive service of the employees dedicated to us for all management and other personnel dedicated to our business and were able to direct MMI to implement employment decisions with respect to the employees dedicated to us. We were required to reimburse MMI for all compensation and benefits and costs associated with the employees dedicated to us. We did not pay any fee or any other form of compensation to MMI. The agreement with MMI terminated on December 31, 2014. Effective January 1, 2015, all employees previously employed by MMI and performing services on our behalf became our employees. Total compensation and benefit costs paid by MMI and passed through to us under the agreement during the years ended December 31, 2014 and 2013, were $41.9 million and $17.0 million, respectively.
	Allocated general and administrative expenses
	Prior to February 28, 2013, the Company received an allocation of general and administrative expenses from AH LLC that were either clearly applicable to or were reasonably allocated to the operations of the properties prior to contribution by AH LLC in connection with the 2012 Offering and the 2,770 Property Contribution (see Note 10). Allocated general and administrative expenses prior to the date of the contribution were $1.0 million and $6.9 million for the years ended December 31, 2013 and 2012, respectively, and have been included in general and administrative expense in the consolidated statements of operations.

Contributions_by_AH_LLC

Contributions by AH LLC	12 Months Ended
	Dec. 31, 2014
Contributions by AH LLC
Contributions by AH LLC	Note 10. Contributions by AH LLC
	Contribution in connection with 2012 Offering
	In connection with the 2012 Offering, on December 31, 2012, AH LLC made an investment in our Company by contributing 367 single-family properties and $0.6 million in cash. The contributed single-family properties were valued at $49.4 million, which approximated AH LLC's purchase price plus renovation costs incurred through November 5, 2012, an acquisition fee of 5% (based on the purchase price plus renovations costs through November 5, 2012) and all other out-of-pocket costs anticipated to have been incurred by AH LLC in connection with the contribution of the properties, including transfer costs, title insurance premiums and legal fees. In connection with this contribution, AH LLC received 3,300,000 Class A common shares, 667 Class B common shares and 32,667 Class A units (see Note 8). This transaction has been deemed to be between "entities under common control" under the provisions of ASC 805, Business Combinations, and as such, the accounts relating to the properties contributed have been reflected retroactively in the consolidated financial statements based on the results of operations and net book value recorded by AH LLC of $47.6 million as of the date of the contribution, without consideration of the acquisition fees. Costs to transfer title to the properties of $0.5 million to us were expensed. The contribution agreement was entered into and effective December 31, 2012, and provides that AH LLC has conveyed all legal and beneficial right, title and interest in the contributed properties on that date.
	2,770 Property Contribution
	On February 28, 2013, we entered into an agreement with AH LLC providing for the contribution of 2,770 single-family properties for total consideration of $491.7 million (the "2,770 Property Contribution"). The consideration to AH LLC was 31,085,974 Series C convertible units in our Operating Partnership and 634,408 Class B common shares valued at $15.50 per unit/share, which approximated fair value as of the date of the transaction. Because the 2,770 Property Contribution has been deemed to be a transaction between entities under common control, the shares issued and the property received have been recorded by us at AH LLC's historical book value and reflected as if they had been acquired by us on the dates such properties were acquired by AH LLC. Upon consummation of the transaction on February 28, 2013, the total $386.5 million predecessor net book value of the property contribution was reclassified from additional paid-in capital to (i) noncontrolling interest in connection with the issuance of $378.8 million Series C convertible units in our Operating Partnership and (ii) Class B common shares in connection with the issuance of $7.7 million Class B common shares.
	The following table summarizes the net assets and historical net loss of the 2,770 single-family properties based on the dates such properties were acquired by AH LLC through the date of the 2,770 Property Contribution (in thousands, except number of properties):
		Period from			Period from			Total as of
		June 23,			January 1,			February 28,
		2011, to			2013, to			2013
		December 31,			February 28,			(transaction
		2012			2013			date)
	Number of properties		2,661			109			2,770
	Single-family properties	$	365,937		$	20,563		$	386,500
	Other assets		7,203			(2,086	)		5,117
	Other liabilities		(8,183	)		558			(7,625	)
	Net assets contributed	$	364,957		$	19,035		$	383,992
	Rents from single-family properties	$	4,413		$	3,720		$	8,133
	Property operating expenses		(3,326	)		(1,920	)		(5,246	)
	Depreciation		(2,021	)		(1,324	)		(3,345	)
	Allocated general and administrative expenses		(6,996	)		(993	)		(7,989	)
	Net loss	$	(7,930	)	$	(517	)	$	(8,447	)
	Contributed net assets and net loss	$	372,887		$	19,552		$	392,439
	The net assets of the properties and the related historical net loss has been reflected as a credit to additional paid-in capital during the period such properties were acquired by AH LLC.
	Upon consummation of the transaction on February 28, 2013, the total $386.5 million net asset value of the property contribution was reclassified from additional paid-in capital to (i) noncontrolling interest in connection with the issuance of $378.8 million Series C convertible units in our Operating Partnership and (ii) Class B common shares in connection with the issuance of $7.7 million Class B common shares (see Note 8). Additionally, the other net liabilities associated with the properties of $2.5 million as of February 28, 2013, have been reclassified from additional paid-in capital to due from affiliates, as these amounts were subsequently settled in cash by AH LLC.
	Pursuant to the agreement, AH LLC was responsible for all costs of transfer of the properties and for paying costs associated with the completion of initial renovation of the properties after we acquired them. The costs of such improvements for the period from March 1, 2013, to December 31, 2013, were $13.8 million. This amount has been reflected as an addition to the net asset value of the contributed properties, with a corresponding increase of $13.5 million and $0.3 million to the Series C convertible units in our Operating Partnership and Class B common shares, respectively, issued in connection with the 2,770 Property Contribution.
	The total reduction to additional paid-in capital of $356.4 million reflected in the consolidated statement of equity for the year ended December 31, 2013, consists of the $386.5 million reclassification of the net asset value of the 2,770 properties, offset by (i) the $19.6 million credit associated with the 109 properties acquired by AH LLC from January 1, 2013, to February 28, 2013, (ii) $8.0 million in excess of $6,000 par value associated with issuance of the 634,408 Class B common shares and (iii) the $2.5 million reclassification of the other net liabilities associated with the properties to due from affiliates.
	Concurrently with this transaction, commencing February 28, 2013, the Advisor agreed to a permanent reduction in the advisory fee of $9.8 million per year (see Note 9).
	45 Property Acquisition
	On December 12, 2014, we and the Operating Partnership entered into a contribution agreement with AH LLC, pursuant to which AH LLC contributed to the Operating Partnership all of AH LLC's interest in 45 properties owned by AH LLC. The value of the properties was determined by broker price opinions prepared by independent third parties. In exchange for the properties, the Operating Partnership issued to AH LLC 653,378 Class A units valued at $17.11 per unit, the closing price on the NYSE for the Company's Class A common shares on December 11, 2014.

Acquisitions_and_Dispositions

Acquisitions and Dispositions	12 Months Ended
	Dec. 31, 2014
Acquisitions and Dispositions
Acquisitions and Dispositions	Note 11. Acquisitions and Dispositions
	2014 Acquisitions
	Ellington Portfolio Acquisition
	On December 31, 2014, the Company acquired a 100% ownership interest in a portfolio of 914 homes located in markets in Arizona, Colorado, Georgia, North Carolina, Tennessee and Texas for a total purchase price of approximately $126.0 million, which included $74.4 million in cash and the assumption of $51.6 million of debt. The debt consists of a 5-year note payable, which is secured by a first priority mortgage on 583 of the homes, and has a fixed interest rate of 4.06% and a maturity date of July 1, 2019. The Company completed the Ellington Portfolio Acquisition for the purpose of acquiring a portfolio of 914 single-family properties, which was 96.3% leased as of the acquisition date.
	The following table summarizes the preliminary estimated fair values of the assets and liabilities acquired as part of the Ellington Portfolio Acquisition (in thousands):
	Land		$	25,615
	Buildings and improvements			98,117
	In-place leases			2,268
	Note payable			(51,644	)
	Estimated fair value of assets and liabilities acquired		$	74,356
	The 914 single-family properties acquired as part of the transaction on December 31, 2014, were consolidated into the Company's portfolio and reflected in its consolidated financial statements.
	Beazer Rental Homes Acquisition
	On July 1, 2014, the Company completed the acquisition of Beazer Rental Homes for the purpose of acquiring a 100% ownership interest in a portfolio of 1,372 homes located in markets in Arizona, California, Florida and Nevada (the "Beazer Rental Homes Acquisition"). The Beazer Rental Homes Acquisition was completed pursuant to an Agreement and Plan of Merger by and among American Homes 4 Rent, AMH Portfolio One, LLC, a wholly owned subsidiary of the Company ("Merger Sub"), and representatives of the Beazer shareholders, dated as of July 1, 2014 (the "Merger Agreement"). As provided in the Merger Agreement, the acquisition was completed as a tax-free merger of Beazer Rental Homes with Merger Sub. The merger consideration to the security holders of Beazer Rental Homes consisted of 8,158,001 Class A common shares in the Company, $5.0 million of cash to be held in an indemnification escrow for a period of six months and extinguishment of $108.2 million outstanding under the Beazer Rental Homes credit facility. The fair value of the Class A common shares issued has been estimated to be $144.8 million, which has been determined using the closing price in the Company's Class A common shares on the date of the Beazer Rental Homes Acquisition. As of December 31, 2014, the Company has estimated that approximately $0.6 million will be withheld from the $5.0 million indemnification escrow to satisfy certain representation and warranty provisions in accordance with the Merger Agreement. Accordingly, the remaining $4.4 million indemnification escrow has been recognized within total merger consideration as of December 31, 2014, with a corresponding liability included in accounts payable and accrued expenses in the consolidated balance sheets.
	The following table summarizes the preliminary estimated fair values of the assets and liabilities acquired as part of the Beazer Rental Homes Acquisition (in thousands):
	Land		$	60,866
	Buildings and improvements			193,506
	Cash and cash equivalents			2,197
	In-place leases			2,655
	Other current assets and liabilities, net			(1,785	)
	Estimated fair value of assets and liabilities acquired		$	257,439
	Since the date of the Beazer Rental Homes Acquisition, the Company has consolidated the 1,372 single-family properties acquired as part of the transaction and the related results of these operations are reflected in the Company's consolidated financial statements.
	The following table presents the total revenues and net income attributable to the Company's current year acquisitions that were included in our consolidated statement of operations for the year ended December 31, 2014 (in thousands):
			Beazer			Ellington
			Period from			Period from
			July 1,			December 31,
			2014 to			2014 to
			December 31, 2014			December 31, 2014
	Total revenues		$	10,422		$	—
	Net income		$	1,713		$	—
	2013 Acquisitions
	Management Internalization
	On June 10, 2013, the Company completed the Management Internalization for the purpose of internalizing its corporate and property operations management and acquired 100% of the membership interests in the Advisor and the Property Manager from AH LLC in exchange for 4,375,000 Series D units and 4,375,000 Series E units in our Operating Partnership, which were valued at $65.2 million and $64.9 million, respectively, as of the date of issuance using a Monte Carlo Simulation model. Under the terms of the respective contribution agreement, among other things, all administrative, financial, property management, marketing and leasing personnel, including executive management, became fully dedicated to the Company.
	In connection with the Management Internalization, the Company also:
	•	Modified the preexisting Agreement on Investment Opportunities between the Company and AH LLC to: (i) preclude AH LLC from providing advisory or property management services to third parties investing in any type of business relating to investment in, ownership of or rental of single-family homes; (ii) increase from 20% to 100% the Company's right to receive promoted interests in any future outside investment vehicles, as defined; (iii) cease AH LLC's rendering of acquisition and renovation services to the Company and eliminate the related 5% fee paid to the AH LLC on December 10, 2014; (iv) provide the Company with the right to offer employment on September 10, 2014, that would commence on December 10, 2014, to all of AH LLC's acquisition and renovation personnel necessary for our operations; and (v) require AH LLC to pay us a monthly fee of $0.1 million through December 10, 2014, for maintenance and use of certain intellectual property transferred to us in the Management Internalization (see Note 9).
	•	Entered into a registration rights agreement with AH LLC providing for registration rights exercisable after December 10, 2015 (see Note 8).
	•	Cancelled insurance policies previously provided by a captive insurance company affiliated with AH LLC (see Note 9).
	The fair value of the Series D units and Series E units has been estimated to be $65.2 million and $64.9 million, respectively, as of the date of issuance using a Monte Carlo Simulation model. A Monte Carlo simulation was incorporated given that the values of the securities were path dependent, meaning that their value depends on the average of a sequence of the prices of the underlying asset over some predetermined period of time. Inputs to the model include a risk-free rate corresponding to the assumed timing of the conversion date and a volatility input based on the historical volatilities of selected peer group companies. The starting point for the simulation was the most recent trading price in the Company's Class A common shares, into which the Series D and Series E units are ultimately convertible. The timing of such conversion was based on the provisions of the contribution agreement and the Company's best estimate of the events that trigger such conversions (see Note 8).
	The following table summarizes the estimated fair values of the assets acquired as part of the Management Internalization as of the date of acquisition (in thousands):
	Buildings and improvements		$	4,214
	Identified intangible assets:
	Trademark			3,100
	Database			2,100
	Goodwill			120,655
	Fair value of acquired assets		$	130,069
	The above intangible assets acquired in connection with the Management Internalization have been valued in accordance with ASC 805, Business Combinations, which requires that an intangible asset is recognized apart from goodwill if it arises from contractual or other legal rights or if it is separable. An asset is considered separable if it (a) is capable of being separated from the acquired entity and sold, transferred, licensed, rented or exchanged, or (b) can be conveyed in combination with a related asset or liability. Pursuant to ASC 820, Fair Value Measurements and Disclosures, the inputs used in the valuation of these intangible assets consisted primarily of Level 2 and Level 3 inputs. The goodwill of $120.7 million arising from the acquisition consists largely of the synergies, economies of scale and cost savings we expect from the Management Internalization.
	Under the terms of the Management Internalization contribution agreement, net monetary assets, as defined, of the Advisor and Property Manager as of June 10, 2013, were to be settled in cash between the Company and AH LLC subsequent to the date of the transaction. Accordingly, estimated net monetary assets of $7.0 million, including estimated cash and cash equivalents of $9.0 million, were recorded as of the date of the Management Internalization and subsequently the amounts were reconciled and settled in cash.
	Since the date of the Management Internalization, the Company has consolidated the Advisor and the Property Manager and the results of these operations are reflected in the consolidated financial statements.
	Alaska Joint Venture Acquisition
	On June 11, 2013, the Company acquired 100% of the membership interests in American Homes 4 Rent I, LLC (the "Alaska Joint Venture") from Alaska Permanent Fund Corporation ("APFC") and AH LLC for a purchase price of $904.5 million (the "Alaska Joint Venture Acquisition"). The purchase price consisted of the issuance of 43,609,394 Class A common shares in the Company to APFC and 12,395,965 Class A units in the Operating Partnership to AH LLC (see Note 8). As part of the Alaska Joint Venture Acquisition, the Company acquired a portfolio of 4,778 single-family properties, as well as the right to receive all net cash flows produced by the Alaska Joint Venture subsequent to April 30, 2013. Net cash flows produced by the Alaska Joint Venture subsequent to April 30, 2013, and prior to the Company's ownership on June 11, 2013, were approximately $1.9 million, which have been included in the purchase price of the assets acquired as part of the Alaska Joint Venture Acquisition. The Company completed the Alaska Joint Venture Acquisition for the purpose of acquiring a portfolio of 4,778 single-family properties, which was 75% leased as of the date of acquisition.
	The following table summarizes the estimated fair values of the assets acquired as part of the Alaska Joint Venture Acquisition as of the date of acquisition (in thousands):
	Land		$	156,648
	Buildings and improvements			740,396
	Receivable for net cash flows prior to acquisition date			1,896
	Value of in-place leases			5,547
	Fair value of acquired assets		$	904,487
	Pursuant to the Alaska Joint Venture Acquisition contribution agreement, net monetary assets, as defined, of the Alaska Joint Venture as of April 30, 2013, were used to fund all remaining initial repair and renovation costs of the 4,778 single-family properties, with shortfalls paid for by AH LLC. Accordingly, estimated net monetary assets of the Alaska Joint Venture of $13.0 million, including estimated cash and cash equivalents of $23.0 million, were recorded as of the date of the Alaska Joint Venture Acquisition in the consolidated balance sheet.
	Since the date of the Alaska Joint Venture Acquisition, the Company has consolidated the Alaska Joint Venture and the results of its operations are reflected in the consolidated financial statements.
	RJ Joint Ventures Acquisition
	On August 10, 2012, AH LLC formed RJ LLC, as the sole owner and managing member, for the purpose of sponsoring and managing investment vehicle joint ventures with accredited investors identified by Raymond James. On September 20, 2012, RJ LLC formed its first investment vehicle, RJ American Homes 4 Rent One, LLC ("RJ1"), with an initial capital contribution of 177 single-family properties from AH LLC, prior to selling a 67% Class A ownership interest in RJ1 to third party accredited investors (the "RJ1 Investors"). After the sale to the RJ1 Investors, RJ LLC's remaining interest in RJ1 consisted of a 33% managing member Class B equity interest and 100% of a promoted interest that is earned after the RJ1 Investors achieve certain preferred returns.
	On December 31, 2012, the Company acquired a newly created Class B ownership interest in RJ LLC from AH LLC in exchange for 653,492 Preferred Units (see Note 8), which entitled the Company to all operating cash distributions and 20% of promoted interest distributions made from RJ1 to RJ LLC (the "RJ1 2012 Transaction"). As the RJ1 2012 Transaction was completed prior to the Management Internalization, it was deemed to be a transaction between "entities under common control" under the provisions of ASC 805, Business Combinations, and accordingly, the Company's Class B interest in RJ LLC was recorded at AH LLC's carryover basis of zero. As a result, the Preferred Units issued to AH LLC were also recorded with no initial basis.
	On March 15, 2013, RJ LLC formed its second investment vehicle, RJ American Homes 4 Rent Two, LLC ("RJ2"), with an initial capital contribution of 214 single-family properties from AH LLC, prior to selling a 67% Class A ownership interest in RJ2 to third party accredited investors (the "RJ2 Investors"). After the sale to the RJ2 Investors, RJ LLC's remaining interest in RJ2 consisted of a 33% managing member Class B equity interest and 100% of a promoted interest that is earned after the RJ2 Investors achieve certain preferred returns.
	On June 14, 2013, AH LLC contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by AH LLC were converted into 653,492 Class A units (the "Preferred Unit Conversion") and the Company issued 705,167 additional Class A units to AH LLC (collectively, the "2013 RJ Transaction"). The fair value of the 705,167 Class A units issued has been estimated to be $11.3 million, which has been determined using the most recent trading price in the Company's Class A common shares, into which the Class A units are convertible into on a one-for-one basis. Additionally, our Operating Partnership made a $7.6 million loan to RJ1, the proceeds of which were used to extinguish the balance of an outstanding loan as of the date of the 2013 RJ Transaction. The Company completed the 2013 RJ Transaction for the purpose of gaining 100% ownership of RJ LLC and therefore control over RJ1 and RJ2. As of the date of the 2013 RJ Transaction, the RJ1 and RJ2 portfolios collectively consisted of 377 single-family properties.
	The following table summarizes the estimated fair values of the net assets of RJ LLC, RJ1 and RJ2 that the Company gained control over on June 14, 2013 and the associated 67% noncontrolling interest held by the RJ1 Investors and RJ2 Investors in RJ1 and RJ2, respectively (in thousands):
	Land		$	10,340
Building and improvements			54,123
Value of in-place leases			539
Cash and cash equivalents			1,128
Other current assets and liabilities, net			(311	)
Note payable			(7,600	)
Noncontrolling interest			(39,321	)
Fair value of acquired net assets		$	18,898
As the Company gained control over RJ LLC after the date of the Management Internalization on June 10, 2013, the carrying value of the Company's Class B interest in RJ LLC has been remeasured to fair value in accordance with ASC 805, Business Combinations. The following table summarizes the carrying value and estimated fair value of the Company's Class B interest in RJ LLC as of June 14, 2013 and the resulting gain on remeasurement of approximately $10.9 million, which has been recognized in the consolidated statements of operations (in thousands):
Fair value of existing Class B interest		$	7,615
Carrying value of Class B interest			(3,330	)
Gain on remeasurement of equity method investment		$	10,945
The fair value of the Company's existing Class B interest has been determined using an income approach valuation technique based on the assets of RJ1 underlying the Company's Class B interest in RJ LLC.
Because the Preferred Unit Conversion was not subject to an inducement offer and represented an in-substance redemption of the 653,492 Preferred Units, the $10.5 million fair value of the 653,492 Class A units in excess of the zero carrying value of the 653,492 Preferred Units has been reflected as a reduction to net income attributable to common shareholders in the consolidated statements of operations in accordance with ASC 260-10-S99-2, The Effect on the Calculation of Earnings per Share for the Redemption or Induced Conversion of Preferred Stock. The fair value of the Class A units issued in connection with the 2013 RJ Transaction has been estimated using the most recent trading price in the Company's Class A common shares, into which the Class A units are convertible into on a one-for-one basis.
Since the date of the 2013 RJ Transaction, the Company has consolidated RJ LLC, RJ1 and RJ2 and the related results of operations are reflected in the consolidated financial statements.
The following table presents the total revenues and net income attributable to the Management Internalization, Alaska Joint Venture Acquisition and 2013 RJ Transaction that were included in our consolidated statements of operations from the respective transaction dates through December 31, 2013 (in thousands):
		Management			Alaska Joint			2013 RJ
		Internalization (1)			Venture Acquisition			Transaction
		Period from			Period from			Period from
		June 10, 2013 to			June 11, 2013 to			June 14, 2013 to
		December 31, 2013			December 31, 2013			December 31, 2013
Total revenues		$	1,502		$	38,054		$	2,723
Net (loss) / income		$	(26,179	)	$	2,256		$	52
-1	Total revenues and net loss attributable to the Management Internalization does not reflect the benefit of eliminating approximately $24.0 million in advisory management and property management fees that would have otherwise been paid to AH LLC after the date of the Management Internalization.
The following table presents the Company's supplemental consolidated unaudited pro forma total revenues and net income as if the Ellington Portfolio Acquisition, Beazer Rental Homes Acquisition, Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2013 (in thousands):
		For the Years ended
		December 31,
		2014			2013
Pro forma total revenues (1)		$	421,033		$	176,340
Pro forma net loss (1)(2)		$	(32,858	)	$	(32,161	)
-1	This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had the Ellington Acquisition, Beazer Rental Homes Acquisition, Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2013.
-2	Pro forma net loss represents the combined pro forma net loss of the Advisor and Property Manager, among others, but does not reflect the elimination of historical advisory and property management fees that would not have been paid had the Management Internalization occurred on January 1, 2013.
Additionally, due to the inherent complexity of the consolidated financial statements as a result of the transactions completed between entities under common control, management believes that presentation of pro forma net loss attributable to common shareholders and on a per share basis is not meaningful and has therefore only presented pro forma total revenues and net loss as if the Ellington Portfolio Acquisition, Beazer Rental Homes Acquisition, Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2013, above.
Sale of Southern California properties
On June 27, 2013, the Company sold 38 single-family properties located in southern California for a gross sales price of $8.9 million, before commissions and closing costs, resulting in a gain on sale of $0.9 million. As these properties had previously been in operations and also represented the disposition of a geographic market, the results of operations from the 38 southern California properties prior to the date of sale, along with the related gain on disposition, have been reflected as discontinued operations in the consolidated statements of operations.

Earnings_per_share

Earnings per share	12 Months Ended
	Dec. 31, 2014
Earnings per share
Earnings per share	Note 12. Earnings per share
	The following table reflects the computation of net loss per share on a basic and diluted basis for the years ended December 31, 2014, 2013 and 2012 (in thousands, except share data):
		For the Years Ended December 31,
		2014			2013			2012
	Income / (loss) (numerator):
	Loss from continuing operations	$	(33,092	)	$	(20,074	)	$	(10,236	)
	Income from discontinued operations		—			1,008			—
	Noncontrolling interest		14,965			13,245			—
	Dividends on preferred shares		18,928			1,160			—
	Conversion of preferred units		—			10,456			—
	Net loss attributable to common shareholders	$	(66,985	)	$	(43,927	)	$	(10,236	)
	Weighted-average shares (denominator)		196,348,757			123,592,086			7,225,512
	Net loss per share—basic and diluted:
	Loss from continuing operations	$	(0.34	)	$	(0.37	)	$	(1.42	)
	Income from discontinued operations		—			0.01			—
	Net loss per share—basic and diluted	$	(0.34	)	$	(0.36	)	$	(1.42	)
	Total weighted-average shares for the year ended December 31, 2014, shown above excludes an aggregate of 73,586,644, shares or units in our Operating Partnership, Series A, B and C preferred shares, common shares issuable upon exercise of stock options, and restricted stock units because they were antidilutive. Total weighted-average shares for the years ended December 31, 2013 and 2012, shown above excludes an aggregate of 63,873,266 and 4,719,493, respectively, of shares or units in our Operating Partnership, the subscription agreement and stock options because they were antidilutive.
	Due to the inherent complexity of the consolidated financial statements as a result of the transactions completed between entities under common control, management does not consider the historical net loss per share computations to be meaningful.

Commitments_and_contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and contingencies
Commitments and contingencies	Note 13. Commitments and contingencies
	As part of our operations, we lease office space for our corporate and property management offices under non-cancelable operating lease agreements.
	Rent expense related to our operating leases for the years ended December 31, 2014 and 2013, was as follows (in thousands):
		For the Years Ended
		December 31,
		2014			2013
	Rent expense	$	1,867		$	809
	Less: income from subleases		(11	)		—
	Net rent expense	$	1,856		$	809
	Future lease obligations under our operating leases as of December 31, 2014, were as follows (in thousands):
	Year	Amount
	2015	$	1,818
	2016		1,632
	2017		892
	2018		183
	2019		4
	Thereafter		—
	Total lease commitments		4,529
	Less: income from subleases		(428	)
	Net lease commitments	$	4,101
	In connection with the renovation of single-family properties after they are purchased, the Company enters into contracts for the necessary improvements. As of December 31, 2014 and 2013, the Company had aggregate outstanding commitments of $4.1 million and $1.5 million, respectively, in connection with these contracts.
	As of December 31, 2014 and 2013, we had commitments to acquire 703 and 536 single-family properties, respectively, with an aggregate purchase price of $110.9 million and $75.5 million, respectively.
	We are involved in various legal and administrative proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position.
	We have a retirement savings plan pursuant to Section 401(k) of the Internal Revenue Code whereby our employees may contribute a portion of their compensation to their respective retirement accounts in an amount not to exceed the maximum allowed under the Internal Revenue Code. In addition to employee contributions, we have elected to provide company contributions (subject to statutory limitations), which amounted to approximately $0.3 million, $0.2 million and $0.2 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Noncash_transactions

Noncash transactions	12 Months Ended
	Dec. 31, 2014
Noncash transactions
Noncash transactions	Note 14. Noncash transactions
	On February 28, 2013, AH LLC contributed 2,770 single-family properties to the Company in exchange for 31,085,974 Series C convertible units in our Operating partnership and 634,408 Class B common shares (see Note 10).
	On June 10, 2013, we acquired the Advisor and Property Manager from AH LLC in exchange for 4,375,000 Series D units and 4,375,000 Series E units in the Operating Partnership (see Note 11).
	On June 11, 2013, we acquired the Alaska Joint Venture from APFC and AH LLC in exchange for 43,609,394 Class A common shares in the Company and 12,395,965 Class A units in the Operating Partnership (see Note 11).
	On June 14, 2013, AH LLC contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by AH LLC were converted into 653,492 Class A units and the Company issued 705,167 additional Class A units to AH LLC (see Note 11).
	On July 1, 2014, we acquired Beazer Rental Homes for a total purchase price of $257.4 million including the issuance of 8,158,001 Class A common shares in the Company (see Note 11).
	On December 12, 2014, we issued 653,378 Class A units valued at $17.11 per unit to AH LLC for a total consideration value of $11.2 million in exchange for 45 single-family properties (see Note 10).

Fair_Value

Fair Value	12 Months Ended
	Dec. 31, 2014
Fair Value.
Fair Value	Note 15. Fair Value
	The carrying amount of rents and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. The Company's interest rate cap agreement, contingently convertible Series E units liability and preferred shares derivative liability are the only financial instruments recorded at fair value on a recurring basis in the consolidated financial statements.
	Inputs to the model used to value the contingently convertible Series E units liability include a risk-free rate corresponding to the assumed timing of the conversion date and a volatility input based on the historical volatilities of selected peer group companies. The starting point for the simulation is the most recent trading price in the Company's Class A common shares, into which the Series E units are ultimately convertible. The timing of such conversion is based on the provisions of the contribution agreement and the Company's best estimate of the events that trigger such conversions.
	Valuation of the preferred shares derivative liability considers scenarios in which the preferred shares would be redeemed or converted into Class A common shares by the Company and the subsequent payoffs under those scenarios. The valuation also considers certain variables such as the risk-free rate matching the assumed timing of either redemption or conversion, volatility of the underlying home price appreciation index, dividend payments, conversion rates, the assumed timing of either redemption or conversion and an assumed drift factor in home price appreciation across certain MSAs as outlined in the agreement.
	The fair value of our interest rate cap agreement is determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the interest rate cap. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. To comply with the provisions of ASC 820, Fair Value Measurements and Disclosures, the Company incorporates credit valuation adjustments to appropriately reflect the respective counterparty's nonperformance risk in the fair value measurements.
	The following tables set forth the fair value of our interest rate cap agreement, the contingently convertible Series E units liability and preferred shares derivative liability as of December 31, 2014 and 2013 (in thousands):
		December 31, 2014
	Description	Quoted Prices in		Significant		Significant		Total
		Active Markets		Other		Unobservable
		for Identical		Observable		Inputs
		Assets		Inputs		(Level 3)
		(Level 1)		(Level 2)
	Assets:
	Interest rate cap agreement	$	—	$	14	$	—	$	14
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	—	$	72,057	$	72,057
	Preferred shares derivative liability	$	—	$	—	$	57,960	$	57,960
		December 31, 2013
	Description	Quoted Prices in		Significant		Significant		Total
		Active Markets		Other		Unobservable
		for Identical		Observable		Inputs
		Assets		Inputs		(Level 3)
		(Level 1)		(Level 2)
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	—	$	66,938	$	66,938
	Preferred shares derivative liability	$	—	$	—	$	28,150	$	28,150
	The following table presents changes in the fair values of our Level 3 financial instruments, consisting of our contingently convertible series E units liability and preferred shares derivative liability, which are measured on a recurring basis with changes in fair value recognized in remeasurement of Series E units and remeasurement of preferred shares, respectively, in the consolidated statements of operations, for the years ended December 31, 2014 and 2013 (in thousands):
	Description	January 1, 2014		Issuances		Remeasurement		December 31,
						included in		2014
						earnings
	Liabilities:
	Contingently convertible Series E units liability	$	66,938	$	—	$	5,119	$	72,057
	Preferred shares derivative liability	$	28,150	$	23,652	$	6,158	$	57,960
	Description	January 1, 2013		Issuances		Remeasurement		December 31,
						included in		2013
						earnings
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	64,881	$	2,057	$	66,938
	Preferred shares derivative liability	$	—	$	26,340	$	1,810	$	28,150
	Changes in inputs or assumptions used to value the contingently convertible Series E units liability and preferred shares derivative liability may have a material impact on the resulting valuation.

Quarterly_financial_informatio

Quarterly financial information	12 Months Ended
	Dec. 31, 2014
Quarterly financial information
Quarterly financial information	Note 16. Quarterly financial information (unaudited)
	The following table presents summarized quarterly financial data for the years ended December 31, 2014 and 2013 (in thousands, except per share data):
		Quarter
		First			Second			Third			Fourth
	2014
	Rents from single-family properties	$	73,761		$	88,871		$	104,210		$	109,543
	Net loss	$	(6,935	)	$	(3,369	)	$	(12,796	)	$	(9,992	)
	Net loss attributable to common shareholders	$	(13,676	)	$	(12,250	)	$	(21,747	)	$	(19,312	)
	Net loss attributable to common shareholders per share—basic and diluted	$	(0.07	)	$	(0.07	)	$	(0.11	)	$	(0.09	)
		Quarter
		First			Second			Third			Fourth
	2013
	Rents from single-family properties	$	6,495		$	17,020		$	47,364		$	61,843
	Net (loss) / income	$	(6,857	)	$	1,123		$	(3,861	)	$	(9,471	)
	Net loss attributable to common shareholders	$	(7,752	)	$	(13,997	)	$	(7,659	)	$	(14,519	)
	Net loss attributable to common shareholders per share—basic and diluted	$	(0.16	)	$	(0.15	)	$	(0.05	)	$	(0.08	)

Subsequent_events

Subsequent events	12 Months Ended
	Dec. 31, 2014
Subsequent events.
Subsequent events	Note 17. Subsequent events
	Subsequent acquisitions
	From January 1, 2015 through January 31, 2015, we acquired 880 properties with an aggregate purchase price of approximately $131.9 million. We expect that our level of acquisition activity will fluctuate based on the number of suitable investments and on the level of funds available for investment.
	Borrowings on Credit Facility
	From January 1, 2015, through January 31, 2015, the Company borrowed an additional $146.0 million under the credit facility. On January 31, 2015, the loan had an outstanding balance of $353.0 million.
	Declaration of Dividends
	On January 31, 2015, our board of trustees declared quarterly dividends of $0.05 per Class A common share payable on March 31, 2015, to shareholders of record on March 15, 2015, and $0.05 per Class B common share payable on March 31, 2015, to shareholders of record on March 15, 2015. Additionally, our board of trustees also declared quarterly dividends of $0.3125 per share on the Company's 5.0% Series A Participating Preferred Shares payable on March 31, 2015, to shareholders of record on March 15, 2015, $0.3125 per share on the Company's 5.0% Series B Participating Preferred Shares payable on March 31, 2015, to shareholders of record on March 15, 2015, and $0.34375 per share on the Company's 5.5% Series C Participating Preferred shares payable on March 31, 2015, to shareholders of record on March 15, 2015.
	Pricing of Securitization Transaction
	On February 26, 2015, the Company priced a securitization transaction involving the issuance and sale to third parties of single-family rental pass-through certificates that represent beneficial ownership interests in a loan secured by 4,661 single-family residential properties transferred to an affiliate from the Company's portfolio of single-family properties. The Company anticipates gross proceeds from the sale of its certificates of approximately $552.8 million. The certificates will be issued for a thirty-year term with an anticipated repayment date ten years after the closing date. The duration-adjusted weighted-average coupon rate for the certificates for the first ten years is 4.14%. The transaction is expected to close on or about March 6, 2015.

Schedule_III_Real_Estate_and_A

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
Schedule III - Real Estate and Accumulated Depreciation
Schedule III - Real Estate and Accumulated Depreciation
	American Homes 4 Rent
	Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2014
	(dollars in thousands)
					Initial Cost to Company						Cost Capitalized		Total Cost
											Subsequent to		as of December 31, 2014
											Acquisition
	Markets	Number of			Land			Buildings and			Buildings and		Land		Buildings and		Total		Accumulated			Net Cost		Date of
		Single-Family						Improvements			Improvements				Improvements				Depreciation			Basis		Acquisition
		Homes
	Albuquerque		213		$	6,513		$	24,181		$	2,896	$	6,513	$	27,077	$	33,590	$	(1,186	)	$	32,404		2013-2014
	Antelope Valley		6			212			898			224		212		1,122		1,334		(44	)		1,290		2012
	Atlanta		2,257			75,611			246,916			41,283		75,611		288,199		363,810		(13,243	)		350,567		2012-2014
	Augusta		181			5,244			20,617			2,617		5,244		23,234		28,478		(723	)		27,755		2013-2014
	Austin		629			14,546			66,563			10,951		14,546		77,514		92,060		(2,974	)		89,086		2012-2014
	Bay Area		91			6,610			19,948			1,602		6,610		21,550		28,160		(1,015	)		27,145		2012-2014
	Boise		282			7,925			28,790			3,114		7,925		31,904		39,829		(1,263	)		38,566		2013-2014
	Central Valley		174			6,800			22,260			2,333		6,800		24,593		31,393		(1,578	)		29,815		2012-2013
	Charleston		534			19,602			67,246			8,108		19,602		75,354		94,956		(2,835	)		92,121		2012-2014
	Charlotte		1,975			64,366			251,767			22,426		64,366		274,193		338,559		(9,480	)		329,079		2012-2014
	Chicago		1,968			60,001			238,239			41,611		60,001		279,850		339,851		(11,520	)		328,331		2012-2014
	Cincinnati		1,776			56,556			217,595			30,298		56,556		247,893		304,449		(10,458	)		293,991		2012-2014
	Colorado Springs		21			871			2,825			620		871		3,445		4,316		(214	)		4,102		2013
	Columbia		288			6,726			33,429			3,552		6,726		36,981		43,707		(1,333	)		42,374		2013-2014
	Columbus		1,265			32,579			134,691			23,364		32,579		158,055		190,634		(5,913	)		184,721		2012-2014
	Dallas-Fort Worth		2,837			78,980			319,641			52,842		78,980		372,483		451,463		(17,447	)		434,016		2012-2014
	Denver		642			30,894			126,449			11,247		30,894		137,696		168,590		(3,494	)		165,096		2012-2014
	Fort Myers		33			799			4,824			510		799		5,334		6,133		(333	)		5,800		2012-2014
	Greensboro		532			15,646			68,856			6,292		15,646		75,148		90,794		(2,813	)		87,981		2013-2014
	Greenville		552			13,961			72,490			7,149		13,961		79,639		93,600		(3,058	)		90,542		2013-2014
	Houston		1,772			48,939			220,362			36,263		48,939		256,625		305,564		(11,085	)		294,479		2012-2014
	Indiana		2,675			73,017			285,887			44,338		73,017		330,225		403,242		(15,581	)		387,661		2012-2014
	Inland Empire		130			11,901			19,554			1,339		11,901		20,893		32,794		(388	)		32,406		2012-2014
	Jacksonville		1,357			36,407			143,011			22,478		36,407		165,489		201,896		(7,965	)		193,931		2012-2014
	Knoxville		298			9,785			46,239			3,790		9,785		50,029		59,814		(2,138	)		57,676		2013-2014
	Las Vegas		908			27,115			115,208			16,940		27,115		132,148		159,263		(7,430	)		151,833		2011-2014
	Memphis		516			16,166			55,981			4,811		16,166		60,792		76,958		(968	)		75,990		2013-2014
	Miami		305			8,386			45,628			6,958		8,386		52,586		60,972		(2,671	)		58,301		2012-2014
	Milwaukee		127			7,481			22,367			2,058		7,481		24,425		31,906		(1,481	)		30,425		2013
	Nashville		1,309			49,167			199,567			21,542		49,167		221,109		270,276		(10,874	)		259,402		2012-2014
	Oklahoma City		339			9,213			47,067			4,681		9,213		51,748		60,961		(958	)		60,003		2012-2014
	Orlando		981			28,000			120,849			16,308		28,000		137,157		165,157		(6,148	)		159,009		2011-2014
	Phoenix		1,381			39,048			158,826			21,382		39,048		180,208		219,256		(9,868	)		209,388		2011-2014
	Portland		204			14,302			23,731			1,726		14,302		25,457		39,759		(1,384	)		38,375		2013
	Raleigh		1,297			45,699			168,954			16,831		45,699		185,785		231,484		(7,226	)		224,258		2012-2014
	Sacramento		29			1,664			3,760			275		1,664		4,035		5,699		(72	)		5,627		2014
	Salt Lake City		981			54,708			140,000			17,325		54,708		157,325		212,033		(7,344	)		204,689		2012-2014
	San Antonio		790			20,833			87,791			9,500		20,833		97,291		118,124		(2,848	)		115,276		2012-2014
	Savannah/Hilton Head		347			10,416			40,171			3,968		10,416		44,139		54,555		(1,155	)		53,400		2013-2014
	Seattle		257			12,579			36,685			4,429		12,579		41,114		53,693		(2,062	)		51,631		2012-2014
	Tampa		1,486			53,579			201,583			24,335		53,579		225,918		279,497		(10,156	)		269,341		2012-2014
	Tucson		396			7,650			38,278			6,643		7,650		44,921		52,571		(2,990	)		49,581		2011-2014
	Winston Salem		458			13,912			56,681			5,160		13,912		61,841		75,753		(2,547	)		73,206		2013-2014
	Total		34,599		$	1,104,409		$	4,246,405		$	566,119	$	1,104,409	$	4,812,524	$	5,916,933	$	(206,262	)	$	5,710,671
	Change in Total Real Estate Assets
		Years ended December 31
		2014			2013			2012
	Balance, beginning of period	$	3,923,624		$	507,845		$	3,516
	Acquisitions and building improvements		2,004,742			3,423,903			504,329
	Dispositions		(11,433	)		(8,124	)		—
	Balance, end of period	$	5,916,933		$	3,923,624		$	507,845
	Change in Accumulated Depreciation
		Years ended December 31
		2014			2013			2012
Balance, beginning of period	$	(62,202	)	$	(2,132	)	$	(21	)
Depreciation		(144,270	)		(60,254	)		(2,111	)
Dispositions		210			184			—
Balance, end of period	$	(206,262	)	$	(62,202	)	$	(2,132	)

Significant_accounting_policie1

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2014
Significant accounting policies
Basis of Presentation	Basis of Presentation
	The consolidated financial statements include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates variable interest entities ("VIEs") in accordance with ASC 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Ownership interests in certain consolidated subsidiaries of the Company held by outside parties are included in noncontrolling interest in the consolidated financial statements. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made.
Use of Estimates	Use of Estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes
	We have elected to be taxed as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986 (the "Code"), which commenced with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Accordingly, we will not be subject to federal income tax, provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income.
	However, qualification and taxation as a REIT depends upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year, we will be subject to federal and state income tax (including any applicable alternative minimum tax) on our taxable income at regular corporate tax rates, and we may be ineligible to qualify as a REIT for four subsequent tax years. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed taxable income, if any. Our taxable REIT subsidiary will be subject to federal, state and local taxes on its income at regular corporate rates. The tax years from 2012 through 2014 remain open to examination by the taxing jurisdictions to which the Company is subject.
	ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full authority of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the "more likely than not" threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2014, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months.
Investments in Real Estate	Investments in Real Estate
	Transactions in which single-family properties that are not subject to an existing lease are purchased are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Single-family properties that are acquired either subject to an existing lease or as part of a portfolio level transaction are treated as a business combination under ASC 805, Business Combinations, and, as such, are recorded at fair value, allocated to land, building and the existing lease, if applicable, based upon their fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures, and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company engages a third party valuation specialist to assist management in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions.
	The value of acquired lease related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (less than one year).
	The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property.
	We incur costs to prepare our acquired properties for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred.
Single-family Properties Held for Sale and Discontinued Operations	Single-family Properties Held for Sale and Discontinued Operations
	Single-family properties are classified as held for sale when they meet the applicable GAAP criteria, including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale within the consolidated balance sheets.
	The results of operations of leased and operating single-family properties that have either been sold or classified as held for sale, if material, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition. Gains on dispositions of single-family properties that have been in operation are included in "Income from discontinued operations," whereas gains on dispositions of single-family properties with no historical or immaterial operating results are included in other revenues within the consolidated statements of operations.
	As of December 31, 2014 and 2013, the Company had 26 and 44 single-family properties, respectively, classified as held for sale. These properties did not have material historical operating results under the Company's ownership.
Impairment of Long-lived Assets	Impairment of Long-lived Assets
	We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date. No material impairments have been recorded for the years ended December 31, 2014, 2013 and 2012.
Leasing Costs	Leasing Costs
	Direct and incremental costs incurred to lease properties are capitalized and amortized over the term of the leases, which generally have a term of one year. Prior to the Management Internalization, we paid the Property Manager a leasing fee equal to one-half of one month's rent for each lease.
Depreciation and Amortization	Depreciation and Amortization
	Depreciation is computed on a straight-line basis over the estimated useful lives of buildings and improvements. Buildings are depreciated over 30 years and improvements are depreciated over their estimated economic useful lives, generally 5 to 15 years. We consider the value of in-place leases in the allocation of the purchase price, and amortize such amounts on a straight-line basis over the remaining terms of the leases. The unamortized portion of the value of in-place leases is included in deferred costs and other intangibles, net within the consolidated balance sheets.
Intangible Assets	Intangible Assets
	Intangible assets are amortized on a straight-line basis over the asset's estimated economic life and are tested for impairment based on undiscounted cash flows and, if impaired, are written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization are amortized over amortizable lives of 4.7 years for trademark and 7.0 years for database.
	The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset. No impairments have been recorded as of December 31, 2014 and 2013.
Goodwill	Goodwill
	Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired as part of the Management Internalization (see Note 11). Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other, which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether the two-step impairment test is necessary. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the first step of the two-step goodwill impairment test. The first step in the impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds fair value, the second step is required to determine the amount of the impairment loss by comparing the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. Impairment charges, if any, are recognized in operating results. No goodwill impairments have been recorded during the years ended December 31, 2014, 2013 and 2012.
Deferred Financing Costs	Deferred Financing Costs
	Financing costs related to the origination of the Company's credit facility and asset-backed securitizations are deferred and amortized as interest expense on an effective interest method over the contractual term of the applicable financing, and have been included in deferred costs and other intangibles, net within the consolidated balance sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents
	We consider all demand deposits, cashier's checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant.
Restricted Cash	Restricted Cash
	Restricted cash primarily consists of funds held related to resident security deposits and cash reserves in accordance with certain loan agreements.
Escrow Deposits	Escrow Deposits
	Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risk and rewards of ownership of the property are transferred and the purchase is finalized.
Nonperforming Loans	Nonperforming Loans
	The Company has purchased nonperforming loans for the primary purpose of converting the underlying real estate into single-family rental properties through foreclosure or other form of resolution. Prior to foreclosure or resolution, nonperforming loans are carried at cost and placed on nonaccrual status as it is probable that the principal or interest is not fully collectible. Upon converting a nonperforming loan into a home through foreclosure or other form of resolution, it continues to be carried at cost and is moved into single-family properties in the consolidated balance sheets. As of December 31, 2014, the Company had a total investment of $50.4 million in 352 nonperforming loans, which is included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
	We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of tenants to make required rent or other payments. This allowance is estimated based on, among other considerations, payment histories, overall delinquencies and available security deposits. The Company's allowance for doubtful accounts was $0.5 million and $1.2 million as of December 31, 2014 and 2013, respectively, and included in rent and other receivables, net within the consolidated balance sheets.
Rescinded Properties	Rescinded Properties
	In certain jurisdictions, our purchases of single-family properties at foreclosure and judicial auctions are subject to the right of rescission. When we are notified of a rescission, the amount of the purchase price is reclassified as a receivable. As of December 31, 2014 and 2013, rescission receivables totaled $1.1 million and $1.3 million, respectively, and have been included in rent and other receivables, net within the consolidated balance sheets.
Revenue and Expense Recognition	Revenue and Expense Recognition
	We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned.
	We accrue for property taxes and HOA assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses
	Accounts payable and accrued expenses consists primarily of trade payables, resident security deposits, construction liabilities, HOA fees and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure.
Share-based Compensation	Share-based Compensation
	Our 2012 Equity Incentive Plan is accounted for under the provisions of ASC 718, Compensation—Stock Compensation. Noncash share-based compensation expense related to options to purchase our Class A common shares and restricted stock units issued to members of our board of trustees and employees is based on the fair value of the options and restricted stock units on the grant date and amortized over the service period.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
	•	Level 1—Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets;
	•	Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and
	•	Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	The carrying amount of rent and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. The Company's interest rate cap agreement, contingently convertible series E units liability and preferred shares derivative liability are the only financial instruments recorded at fair value on a recurring basis within our consolidated financial statements (see Note 15).
Derivatives	Derivatives
	We currently use, and in the future may use, interest rate cap agreements for interest rate risk management purposes and in conjunction with certain LIBOR-based variable rate debt to satisfy lender requirements. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense. The ineffective portion of the change in fair value of our interest rate cap agreements is required to be recognized directly in earnings.
Allocated General and Administrative Expense	Allocated General and Administrative Expense
	Allocated general and administrative expense represents general and administrative expenses incurred by AH LLC that are either clearly applicable to or have been reasonably allocated to the operations of the properties contributed by AH LLC in connection with the 2012 Offering and the 2,770 Property Contribution. In making these allocations, we have considered the guidance of SEC Staff Accounting Bulletin Topic 1B. We have allocated expenses for each operating division of AH LLC based on an allocation methodology we believe is reasonable for such operating division. Allocations have been based on the estimated portion of AH LLC's overall activity associated with the properties contributed by AH LLC in connection with the 2012 Offering and the 2,770 Property Contribution. In general, the operating metric utilized in making these allocations was the number of single-family properties. Allocated general and administrative expenses were $1.0 million and $6.9 million for the years ended December 31, 2013 and 2012, respectively, and includes salaries, rent, consulting services, travel expenses, temporary services, and accounting and legal services. Management believes that the allocation methodology used to allocate general and administrative expense for the years ended December 31, 2013, and 2012, results in a reasonable estimate for allocated general and administrative expense.
Segment Reporting	Segment Reporting
	Under the provision of ASC 280, Segment Reporting, the Company has determined that it has one reportable segment with activities related to acquiring, renovating, leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level. The Company did not have any geographic market concentrations representing over 10% of total net book value of single-family properties as of December 31, 2014.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-08, Presentation of Financial Statements, Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity, which changes the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations such as a major line of business, major geographic area or a major equity method investment, should be presented as discontinued operations. In addition the new guidance will require expanded disclosures about discontinued operations that will provide more information about the assets, liabilities, income and expenses of discontinued operations. The guidance will be effective for all disposals of components (or classifications as held for sale) that occur within annual periods beginning on or after December 15, 2014, and is not expected to have a material impact on the Company's financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance on revenue recognition and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, most industry-specific guidance and some cost guidance included in Subtopic 605-35, "Revenue Recognition—Construction-Type and Production-Type Contracts." The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These judgments may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2016, and for interim periods within those annual periods. At that time, the Company may adopt the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. The Company is currently evaluating the method of adoption of this guidance and does not anticipate that the adoption of this guidance will have a material impact on the Company's financial statements.

Singlefamily_properties_Tables

Single-family properties (Tables)	12 Months Ended
	Dec. 31, 2014
Single-family properties
Schedule of Single-Family Properties	Single-family properties, net, consists of the following as of December 31, 2014 and 2013 (dollars in thousands):
		December 31, 2014
		Number of		Net book
		properties		value
	Leased single-family properties		28,250	$	4,631,797
	Single-family properties being renovated		2,886		476,120
	Single-family properties being prepared for re-lease		630		104,974
	Vacant single-family properties available for lease		2,807		493,962
	Single-family properties held for sale		26		3,818
	Total		34,599	$	5,710,671
		December 31, 2013
		Number of		Net book
		properties		value
	Leased single-family properties		17,328	$	2,914,947
	Single-family properties being renovated		2,463		348,571
	Single-family properties being prepared for re-lease		281		45,404
	Vacant single-family properties available for lease		3,152		545,931
	Single-family properties held for sale		44		6,569
	Total		23,268	$	3,861,422

Rent_and_Other_Receivables_Tab

Rent and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2014
Rent and Other Receivables
Summary of Future Minimum Rental Revenues	We generally rent our single-family properties under non-cancelable lease agreements with a term of one year. Future minimum rental revenues under leases existing on our properties as of December 31, 2014 were as follows (in thousands):
	Year	December 31,
		2014
	2015	$	248,450
	2016		3,454
	2017		53
	Total	$	251,957

Deferred_costs_and_other_intan1

Deferred costs and other intangibles (Tables)	12 Months Ended
	Dec. 31, 2014
Deferred costs and other intangibles
Deferred Costs and Other Intangibles	Deferred costs and other intangibles, net, consists of the following as of December 31, 2014 and 2013 (in thousands):
		December 31,			December 31,
		2014			2013
	Deferred leasing costs	$	18,307		$	12,526
	Deferred financing costs		53,013			12,147
	Intangible assets:
	Value of in-place leases		10,468			6,085
	Trademark		3,100			3,100
	Database		2,100			2,100
			86,988			35,958
	Less: accumulated amortization		(32,406	)		(15,385	)
	Total	$	54,582		$	20,573
Amortization Expense Related to Deferred Costs and Other Intangibles	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2014, for future periods (in thousands):
	Year	Deferred			Deferred			Value of		Trademark		Database
		Leasing			Financing			In-place
		Costs			Costs			Leases
	2015	$	3,417		$	7,859		$	2,760	$	660	$	300
	2016		—			7,881			3		660		300
	2017		—			6,524			—		660		300
	2018		—			6,054			—		91		300
	2019		—			3,901			—		—		432
	Thereafter		—			12,480			—		—		—
	Total	$	3,417		$	44,699		$	2,763	$	2,071	$	1,632

Debt_Tables

Debt (Tables)	12 Months Ended
	Dec. 31, 2014
Debt
Schedule of debt	The following table presents the Company's debt as of December 31, 2014 and 2013 (in thousands):
		December 31,			December 31,
		2014			2013
	2014-SFR1 securitization	$	478,565		$	—
	2014-SFR2 securitization		512,435			—
	2014-SFR3 securitization		528,390			—
	Total asset-backed securitizations		1,519,390			—
	Note payable		51,644			—
	Credit facility		207,000			375,000
	Total debt	$	1,778,034		$	375,000
Summary of activity that relates to capitalized interest	The following table outlines our total gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the years ended December 31, 2014, 2013 and 2012 (in thousands):
		For the Years Ended December 31,
		2014			2013			2012
	Gross interest cost	$	33,077		$	10,016		$	—
	Capitalized interest		(13,196	)		(9,646	)		—
	Interest expense	$	19,881		$	370		$	—

Accounts_payable_and_accrued_e1

Accounts payable and accrued expenses (Tables)	12 Months Ended
	Dec. 31, 2014
Accounts payable and accrued expenses
Schedule of Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of December 31, 2014 and 2013 (in thousands):
		December 31,		December 31,
		2014		2013
	Accounts payable	$	4,925	$	901
	Accrued property taxes		49,018		28,240
	Other accrued liabilities		28,972		21,538
	Accrued distribution payable		—		9,274
	Accrued construction and maintenance liabilities		23,914		16,917
	Resident security deposits		42,877		26,527
	Total	$	149,706	$	103,397

Shareholders_equity_Tables

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2014
Shareholders' equity.
Summary of Stock Option Activity under Plan
			Shares			Weighted-			Weighted-			Aggregate
						Average			Average			Intrinsic
						Exercise Price			Remaining			Value (1)
									Contractual			(in thousands)
									Life (in years)
	Options outstanding at December 31, 2011			—		$	—			—		$	—
	Granted			700,000			15
	Exercised			—			—
	Forfeited			—			—
	Options outstanding at December 31, 2012			700,000		$	15			9.9		$	—	(2)
	Granted			550,000			16.03
	Exercised			—			—
	Forfeited			(60,000	)		15
	Options outstanding at December 31, 2013			1,190,000		$	15.48			9.3		$	862
	Granted			1,270,000			16.74
	Exercised			(28,750	)		15						74
	Forfeited			(266,250	)		15.88
	Options outstanding at December 31, 2014			2,165,000		$	16.17			8.8		$	1,890
	Options exercisable at December 31, 2014			375,000		$	15.31			8.2		$	645
	-1	Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of 2014 of $17.03 for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
	-2	Prior to August 1, 2013, there was no public trading market for our Class A common shares.
Summary of Black-Scholes Option Pricing Model Inputs used for Valuation of Stock Options Outstanding
			2014			2013			2012
	Weighted-average fair value		$	5.06		$	4.75		$	4.52
	Expected term (years)			7.0			7.0			7.0
	Dividend yield			3.0	%		3.0	%		3.0	%
	Volatility			38.5	%		38.0	%		38.0	%
	Risk-free interest rate			2.2	%		2.0	%		2.5	%
Summary of restricted stock units activity under Plan
			2014			2013			2012
	Restricted stock units at beginning of period			—			—			—
	Units awarded			92,000			—			—
	Units released			—			—			—
	Units forfeited			(7,000	)		—			—
	Restricted stock units at end of the period			85,000			—			—

Contributions_by_AH_LLC_Tables

Contributions by AH LLC (Tables)	12 Months Ended
	Dec. 31, 2014
Contributions by AH LLC
Summary of Net Assets and Historical Net Loss of Single-Family Properties Acquired by Sponsor	The following table summarizes the net assets and historical net loss of the 2,770 single-family properties based on the dates such properties were acquired by AH LLC through the date of the 2,770 Property Contribution (in thousands, except number of properties):
		Period from			Period from			Total as of
		June 23,			January 1,			February 28,
		2011, to			2013, to			2013
		December 31,			February 28,			(transaction
		2012			2013			date)
	Number of properties		2,661			109			2,770
	Single-family properties	$	365,937		$	20,563		$	386,500
	Other assets		7,203			(2,086	)		5,117
	Other liabilities		(8,183	)		558			(7,625	)
	Net assets contributed	$	364,957		$	19,035		$	383,992
	Rents from single-family properties	$	4,413		$	3,720		$	8,133
	Property operating expenses		(3,326	)		(1,920	)		(5,246	)
	Depreciation		(2,021	)		(1,324	)		(3,345	)
	Allocated general and administrative expenses		(6,996	)		(993	)		(7,989	)
	Net loss	$	(7,930	)	$	(517	)	$	(8,447	)
	Contributed net assets and net loss	$	372,887		$	19,552		$	392,439

Acquisitions_and_Dispositions_

Acquisitions and Dispositions (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Total Revenues and Net Income Attributable to Acquisitions	The following table presents the total revenues and net income attributable to the Company's current year acquisitions that were included in our consolidated statement of operations for the year ended December 31, 2014 (in thousands):
			Beazer			Ellington
			Period from			Period from
			July 1,			December 31,
			2014 to			2014 to
			December 31, 2014			December 31, 2014
	Total revenues		$	10,422		$	—
	Net income		$	1,713		$	—
Schedule of Carrying Value and Estimated Fair Value of Company's Class B Interest in RJ LLC	The following table summarizes the carrying value and estimated fair value of the Company's Class B interest in RJ LLC as of June 14, 2013 and the resulting gain on remeasurement of approximately $10.9 million, which has been recognized in the consolidated statements of operations (in thousands):
	Fair value of existing Class B interest		$	7,615
	Carrying value of Class B interest			(3,330	)
	Gain on remeasurement of equity method investment		$	10,945
Schedule of Company's Supplemental Consolidated Unaudited Pro Forma Total Revenues and Net Income	The following table presents the Company's supplemental consolidated unaudited pro forma total revenues and net income as if the Ellington Portfolio Acquisition, Beazer Rental Homes Acquisition, Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2013 (in thousands):
			For the Years ended
			December 31,
			2014			2013
	Pro forma total revenues (1)		$	421,033		$	176,340
	Pro forma net loss (1)(2)		$	(32,858	)	$	(32,161	)
	-1	This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had the Ellington Acquisition, Beazer Rental Homes Acquisition, Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2013.
	-2	Pro forma net loss represents the combined pro forma net loss of the Advisor and Property Manager, among others, but does not reflect the elimination of historical advisory and property management fees that would not have been paid had the Management Internalization occurred on January 1, 2013.
Ellington portfolio acquisiton
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table summarizes the preliminary estimated fair values of the assets and liabilities acquired as part of the Ellington Portfolio Acquisition (in thousands):
	Land		$	25,615
	Buildings and improvements			98,117
	In-place leases			2,268
	Note payable			(51,644	)
	Estimated fair value of assets and liabilities acquired		$	74,356
Beazer Rental Homes
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table summarizes the preliminary estimated fair values of the assets and liabilities acquired as part of the Beazer Rental Homes Acquisition (in thousands):
	Land		$	60,866
	Buildings and improvements			193,506
	Cash and cash equivalents			2,197
	In-place leases			2,655
	Other current assets and liabilities, net			(1,785	)
	Estimated fair value of assets and liabilities acquired		$	257,439
Management Internalization
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table summarizes the estimated fair values of the assets acquired as part of the Management Internalization as of the date of acquisition (in thousands):
	Buildings and improvements		$	4,214
	Identified intangible assets:
	Trademark			3,100
	Database			2,100
	Goodwill			120,655
	Fair value of acquired assets		$	130,069
Schedule of Total Revenues and Net Income Attributable to Acquisitions	The following table presents the total revenues and net income attributable to the Management Internalization, Alaska Joint Venture Acquisition and 2013 RJ Transaction that were included in our consolidated statements of operations from the respective transaction dates through December 31, 2013 (in thousands):
			Management			Alaska Joint			2013 RJ
			Internalization (1)			Venture Acquisition			Transaction
			Period from			Period from			Period from
			June 10, 2013 to			June 11, 2013 to			June 14, 2013 to
			December 31, 2013			December 31, 2013			December 31, 2013
	Total revenues		$	1,502		$	38,054		$	2,723
	Net (loss) / income		$	(26,179	)	$	2,256		$	52
	-1	Total revenues and net loss attributable to the Management Internalization does not reflect the benefit of eliminating approximately $24.0 million in advisory management and property management fees that would have otherwise been paid to AH LLC after the date of the Management Internalization.
Alaska Joint Venture Acquisition
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table summarizes the estimated fair values of the assets acquired as part of the Alaska Joint Venture Acquisition as of the date of acquisition (in thousands):
	Land		$	156,648
	Buildings and improvements			740,396
	Receivable for net cash flows prior to acquisition date			1,896
	Value of in-place leases			5,547
	Fair value of acquired assets		$	904,487
RJ Joint Ventures Acquisition
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table summarizes the estimated fair values of the net assets of RJ LLC, RJ1 and RJ2 that the Company gained control over on June 14, 2013 and the associated 67% noncontrolling interest held by the RJ1 Investors and RJ2 Investors in RJ1 and RJ2, respectively (in thousands):
	Land		$	10,340
	Building and improvements			54,123
	Value of in-place leases			539
	Cash and cash equivalents			1,128
	Other current assets and liabilities, net			(311	)
	Note payable			(7,600	)
	Noncontrolling interest			(39,321	)
	Fair value of acquired net assets		$	18,898

Earnings_per_share_Tables

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2014
Earnings per share
Computation of Net Loss per Share on Basic and Diluted Basis	The following table reflects the computation of net loss per share on a basic and diluted basis for the years ended December 31, 2014, 2013 and 2012 (in thousands, except share data):
		For the Years Ended December 31,
		2014			2013			2012
	Income / (loss) (numerator):
	Loss from continuing operations	$	(33,092	)	$	(20,074	)	$	(10,236	)
	Income from discontinued operations		—			1,008			—
	Noncontrolling interest		14,965			13,245			—
	Dividends on preferred shares		18,928			1,160			—
	Conversion of preferred units		—			10,456			—
	Net loss attributable to common shareholders	$	(66,985	)	$	(43,927	)	$	(10,236	)
	Weighted-average shares (denominator)		196,348,757			123,592,086			7,225,512
	Net loss per share—basic and diluted:
	Loss from continuing operations	$	(0.34	)	$	(0.37	)	$	(1.42	)
	Income from discontinued operations		—			0.01			—
	Net loss per share—basic and diluted	$	(0.34	)	$	(0.36	)	$	(1.42	)

Commitments_and_contingencies_

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and contingencies
Summary of Rental expense under operating leases	Rent expense related to our operating leases for the years ended December 31, 2014 and 2013, was as follows (in thousands):
		For the Years Ended
		December 31,
		2014			2013
	Rent expense	$	1,867		$	809
	Less: income from subleases		(11	)		—
	Net rent expense	$	1,856		$	809
Schedule of Future Lease Obligations under Operating Leases	Future lease obligations under our operating leases as of December 31, 2014, were as follows (in thousands):
	Year	Amount
	2015	$	1,818
	2016		1,632
	2017		892
	2018		183
	2019		4
	Thereafter		—
	Total lease commitments		4,529
	Less: income from subleases		(428	)
	Net lease commitments	$	4,101

Fair_Value_Tables

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value.
Fair Value of Financial Instruments	The following tables set forth the fair value of our interest rate cap agreement, the contingently convertible Series E units liability and preferred shares derivative liability as of December 31, 2014 and 2013 (in thousands):
		December 31, 2014
	Description	Quoted Prices in		Significant		Significant		Total
		Active Markets		Other		Unobservable
		for Identical		Observable		Inputs
		Assets		Inputs		(Level 3)
		(Level 1)		(Level 2)
	Assets:
	Interest rate cap agreement	$	—	$	14	$	—	$	14
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	—	$	72,057	$	72,057
	Preferred shares derivative liability	$	—	$	—	$	57,960	$	57,960
		December 31, 2013
	Description	Quoted Prices in		Significant		Significant		Total
		Active Markets		Other		Unobservable
		for Identical		Observable		Inputs
		Assets		Inputs		(Level 3)
		(Level 1)		(Level 2)
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	—	$	66,938	$	66,938
	Preferred shares derivative liability	$	—	$	—	$	28,150	$	28,150
Changes in Fair Value of Level 3 Financial Instruments	The following table presents changes in the fair values of our Level 3 financial instruments, consisting of our contingently convertible series E units liability and preferred shares derivative liability, which are measured on a recurring basis with changes in fair value recognized in remeasurement of Series E units and remeasurement of preferred shares, respectively, in the consolidated statements of operations, for the years ended December 31, 2014 and 2013 (in thousands):
	Description	January 1, 2014		Issuances		Remeasurement		December 31,
						included in		2014
						earnings
	Liabilities:
	Contingently convertible Series E units liability	$	66,938	$	—	$	5,119	$	72,057
	Preferred shares derivative liability	$	28,150	$	23,652	$	6,158	$	57,960
	Description	January 1, 2013		Issuances		Remeasurement		December 31,
						included in		2013
						earnings
	Liabilities:
	Contingently convertible Series E units liability	$	—	$	64,881	$	2,057	$	66,938
	Preferred shares derivative liability	$	—	$	26,340	$	1,810	$	28,150

Quarterly_financial_informatio1

Quarterly financial information (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly financial information
Summarized Quarterly Financial Data	The following table presents summarized quarterly financial data for the years ended December 31, 2014 and 2013 (in thousands, except per share data):
		Quarter
		First			Second			Third			Fourth
	2014
	Rents from single-family properties	$	73,761		$	88,871		$	104,210		$	109,543
	Net loss	$	(6,935	)	$	(3,369	)	$	(12,796	)	$	(9,992	)
	Net loss attributable to common shareholders	$	(13,676	)	$	(12,250	)	$	(21,747	)	$	(19,312	)
	Net loss attributable to common shareholders per share—basic and diluted	$	(0.07	)	$	(0.07	)	$	(0.11	)	$	(0.09	)
		Quarter
		First			Second			Third			Fourth
	2013
	Rents from single-family properties	$	6,495		$	17,020		$	47,364		$	61,843
	Net (loss) / income	$	(6,857	)	$	1,123		$	(3,861	)	$	(9,471	)
	Net loss attributable to common shareholders	$	(7,752	)	$	(13,997	)	$	(7,659	)	$	(14,519	)
	Net loss attributable to common shareholders per share—basic and diluted	$	(0.16	)	$	(0.15	)	$	(0.05	)	$	(0.08	)

Organization_and_operations_De

Organization and operations (Details) (USD $)	24 Months Ended	12 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2013	Jun. 10, 2013	Oct. 31, 2013	Jan. 31, 2014	31-May-14
Organization and operations
Number of properties	34,599		23,268
Number of states	22		22
Series A and Series B Preferred Shares
Organization and operations
Proceeds from offering before fees	$126.50
Offering costs	7.3
Series A Preferred Stock
Organization and operations
Offering costs					7.3
Sale of stock, number of shares issued	5,060,000
Preferred Shares dividend rate	5.00%
Series B Preferred Stock
Organization and operations
Proceeds from offering before fees	110
Offering costs	6.6		6.6			6.6
Sale of stock, number of shares issued	4,400,000
Preferred Shares dividend rate	5.00%
Series C Preferred Stock
Organization and operations
Proceeds from offering before fees	190
Offering costs	9.7						9.7
Sale of stock, number of shares issued	7,600,000
Preferred Shares dividend rate	5.50%
2012 Offering
Organization and operations
Proceeds from offering before fees		530.4
Fees associated with the sale of stock		40.9
2012 Offering | Sponsor
Organization and operations
Proceeds from offering before fees		5.3
2013 Offering
Organization and operations
Proceeds from offering before fees			747.5
Fees associated with the sale of stock			44
IPO
Organization and operations
Proceeds from offering before fees			811.8
Fees associated with the sale of stock			42
2013 Concurrent Private Placements
Organization and operations
Proceeds from offering before fees			$75
Operating Partnership | Series D Convertible Units
Organization and operations
Issuance of units (in shares)				4,375,000
Operating Partnership | Series E Convertible Units
Organization and operations
Issuance of units (in shares)				4,375,000

Significant_accounting_policie2

Significant accounting policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	property	property
Property Subject to or Available for Operating Lease
Number of properties	34,599	23,268
Income Taxes
Deferred tax assets	$0
Deferred tax liabilities	0
Unrecognized tax benefits	0
Investments in Real Estate
Acquired leases term	less than one year
Impairment of Long-lived Assets
Long-lived assets, impairment charge	$0	$0	$0
Leasing Costs
Lease amortization period	1 year
leasing fee paid to property manager	one-half of one month's rent for each lease.
Single-Family Properties Held for Sale
Property Subject to or Available for Operating Lease
Number of properties	26	44
Buildings
Depreciation and Amortization
Estimated useful life of asset	30 years
Improvements | Minimum
Depreciation and Amortization
Estimated useful life of asset	5 years
Improvements | Maximum
Depreciation and Amortization
Estimated useful life of asset	15 years

Significant_accounting_policie3

Significant accounting policies - (Details 2) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2013
	item
	segment
Intangible Assets
Impairment of intangible assets	$0	$0
Goodwill
Goodwill impairments	0	0
Significant accounting policies
Total investment	50,400,000
Nonperforming loans	352
Allowance for Doubtful Accounts
Allowance for doubtful accounts	500,000	1,200,000
Rescinded Properties
Rescission receivables	1,100,000	1,300,000
Revenue and Expense Recognition
Revenue recognition period of operating lease	1 year
Allocated General and Administrative Expense
Allocated general and administrative expenses	21,947,000	8,845,000	7,199,000
Segment Reporting
Number of reportable segments	1
Trademark
Intangible Assets
Amortizable Life	4 years 8 months 12 days
Database
Intangible Assets
Amortizable Life	7 years
2,770 Property Contribution
Allocated General and Administrative Expense
Allocated general and administrative expenses				7,989,000
2012 Offering | 2,770 Property Contribution
Allocated General and Administrative Expense
Allocated general and administrative expenses		$1,000,000	$6,900,000

Singlefamily_properties_Detail

Single-family properties (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
	property	property
Property Subject to or Available for Operating Lease
Number of properties	34,599	23,268
Net book value	$5,710,671,000	$3,861,422,000
Single family homes
Property Subject to or Available for Operating Lease
Number of properties	34,599	23,268
Net book value	5,710,671,000	3,861,422,000
Single family homes | Properties being renovated
Property Subject to or Available for Operating Lease
Number of properties	2,886	2,463
Net book value	476,120,000	348,571,000
Single family homes | Properties being prepared for re-lease
Property Subject to or Available for Operating Lease
Number of properties	630	281
Net book value	104,974,000	45,404,000
Single family homes | Properties held for sale
Property Subject to or Available for Operating Lease
Number of properties	26	44
Net book value	3,818,000	6,569,000
Leased | Single family homes
Property Subject to or Available for Operating Lease
Number of properties	28,250	17,328
Net book value	4,631,797,000	2,914,947,000
Vacant | Single family homes
Property Subject to or Available for Operating Lease
Number of properties	2,807	3,152
Net book value	$493,962,000	$545,931,000

Singlefamily_properties_Detail1

Single-family properties (Details 2) (Single family homes, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Single family homes
Property Subject to or Available for Operating Lease
Net book value	$114,600,000	$120,600,000
Depreciation expense	$150,500,000	$60,300,000	$2,100,000

Rent_and_Other_Receivables_Det

Rent and Other Receivables (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Rent and Other Receivables
Allowance for doubtful accounts	$500,000	$1,200,000
Rescission receivables	1,100,000	1,300,000
Non Tenant Receivables	2,400,000	200,000
Future minimum rental revenues
2015	248,450,000
2016	3,454,000
2017	53,000
Total	$251,957,000

Deferred_costs_and_other_intan2

Deferred costs and other intangibles (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Acquired Indefinite-lived Intangible Assets
Deferred leasing costs	$18,307	$12,526
Deferred financing costs	53,013	12,147
Intangible assets:
Intangible assets	86,988	35,958
Less: accumulated amortization	-32,406	-15,385
Total	54,582	20,573
Value of In-place Leases
Intangible assets:
Intangible assets	10,468	6,085
Trademark
Intangible assets:
Intangible assets	3,100	3,100
Database
Intangible assets:
Intangible assets	$2,100	$2,100

Deferred_costs_and_other_intan3

Deferred costs and other intangibles (Details 2) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Deferred costs and other intangibles
Amortization expense	$15.10	$10.70	$0
Amortization of deferred financing costs	$4.60	$3.70	$0

Deferred_costs_and_other_intan4

Deferred costs and other intangibles (Details 3) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Intangible Assets
2015	$3,417
Total	3,417
2015	7,859
2016	7,881
2017	6,524
2018	6,054
2019	3,901
Thereafter	12,480
Total	44,699
Value of In-place Leases
Intangible Assets
2015	2,760
2016	3
Total	2,763
Trademark
Intangible Assets
2015	660
2016	660
2017	660
2018	91
Total	2,071
Database
Intangible Assets
2015	300
2016	300
2017	300
2018	300
2019	432
Total	$1,632

Debt_Details

Debt (Details) (USD $)	12 Months Ended	0 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	31-May-13	31-May-14	Sep. 30, 2014	Nov. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Mar. 07, 2013
	property	property		item	property	property	property
				property
Proforma Debt Instrument
Total asset-backed securitizations	$1,519,390,000	$1,519,390,000
Note payable	51,644,000	51,644,000
Credit facility	207,000,000	207,000,000					375,000,000
Total debt	1,778,034,000	1,778,034,000					375,000,000
Gross proceeds from the sale of certificates	1,497,039,000
Number of properties	34,599	34,599					23,268
Interest rate cap agreement	14,000	14,000
Payments for purchase of certificates	3,315,000
Net book value of collateral homes	5,710,671,000	5,710,671,000					3,861,422,000
Cash consideration	74,356,000
Ellington portfolio acquisiton
Proforma Debt Instrument
Note payable	51,644,000	51,644,000
Debt instrument initial term		5 years
Purchase price		126,000,000
Cash consideration		74,400,000
Debt instrument term		5 years
Number of properties treated as collateral		583
Interest rate (as percent)	4.06%	4.06%
Minimum debt service coverage ratio	1.56
Number of properties acquired	914	914
Percentage of properties leased as of acquisition date	96.30%	96.30%
Note | Ellington portfolio acquisiton
Proforma Debt Instrument
Purchase price		51,600,000
Single family homes
Proforma Debt Instrument
Number of properties	34,599	34,599					23,268
Net book value of collateral homes	5,710,671,000	5,710,671,000					3,861,422,000
2014-SFR 1
Proforma Debt Instrument
Total asset-backed securitizations	478,565,000	478,565,000
Debt instrument initial term			2 years
Interest rate cap agreement strike rate	3.85%	3.85%
Effective percentage of interest rate cap agreements hedged as cash flow derivative	100.00%
Estimated amount of loss to be reclassified as increase to interest expense over next 12 months	100,000	100,000
Debt instrument term			2 years
2014-SFR 1 | Fair Value
Proforma Debt Instrument
Interest rate cap agreement	10,000	10,000
2014-SFR 1 | Single family homes
Proforma Debt Instrument
Gross proceeds from the sale of certificates			481,000,000
LIBOR floor rate (as a percent)				0.25%
Number of extension options				3
Period of extension options				12 months
Number of classes of certificates				7
Issuance costs for the sale of certificates				14,900,000
Number of properties				3,852
Net book value of collateral homes	627,000,000	627,000,000
2014-SFR 2
Proforma Debt Instrument
Total asset-backed securitizations	512,435,000	512,435,000
2014-SFR 2 | Fair Value
Proforma Debt Instrument
Net book value of collateral homes	692,600,000	692,600,000
2014-SFR 2 | Single family homes
Proforma Debt Instrument
Gross proceeds from the sale of certificates					487,700,000
Debt instrument initial term					10 years
Issuance costs for the sale of certificates					12,900,000
Number of properties					4,487
Loan amount					513,300,000
Minimum coverage ratio					1.2
Weighted-average interest rate					4.42%
Period of debt service considered for debt coverage ratio					12 months
Payments for purchase of certificates					25,700,000
Debt instrument term					10 years
2014-SFR 3
Proforma Debt Instrument
Total asset-backed securitizations	528,390,000	528,390,000
2014-SFR 3 | Single family homes
Proforma Debt Instrument
Debt instrument initial term						10 years
Issuance costs for the sale of certificates						12,900,000
Number of properties						4,503
Loan amount						528,400,000
Weighted-average interest rate						4.40%
Net book value of collateral homes	752,800,000	752,800,000
Debt instrument term						10 years
LIBOR | 2014-SFR 1 | Single family homes
Proforma Debt Instrument
Interest margin on reference rate (as a percent)	1.54%	1.54%		1.54%
Borrower | Note
Proforma Debt Instrument
Loan amount				481,000,000
Borrower | 2014-SFR 1 | Note
Proforma Debt Instrument
Number of floating rate components of loan				6
Interest rate cap agreement initial period	2 years
Ratio of monthly principal payment of loan				0.083
Portion of principal amount for which monthly payment is required (as a percent)				1.00%
Number of properties				3,852
Minimum debt yield required to be maintained (as a percent)				6.68%
Senior Secured Revolving Credit Facility
Proforma Debt Instrument
Credit facility	207,000,000	207,000,000
Credit facility amount, maximum								800,000,000	500,000,000
Percentage of properties used to calculate borrowing base	50.00%
Debt covenant, minimum liquidity requirement	15,000,000	15,000,000
Debt covenant, minimum liquidity requirement for cash and cash equivalents	$7,500,000	$7,500,000
Maximum leverage ratio	1
Debt covenant, minimum required tangible net worth (as a percent)	85.00%	85.00%
Debt covenant, percentage of additional equity capital raised on or after September 30, 2013 that is used in calculation of tangible net worth	85.00%	85.00%
Senior Secured Revolving Credit Facility | Until March 2017
Proforma Debt Instrument
Debt instrument, description of variable rate	30 day LIBOR
Debt instrument, basis spread on variable rate (as a percent)	2.75%
Senior Secured Revolving Credit Facility | March 2017 and Thereafter
Proforma Debt Instrument
Debt instrument, description of variable rate	30 day LIBOR
Debt instrument, basis spread on variable rate (as a percent)	3.13%

Debt_Details_2

Debt (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt
Gross interest cost	$33,077	$10,016
Capitalized interest	-13,196	-9,646
Interest expense	$19,881	$370

Accounts_payable_and_accrued_e2

Accounts payable and accrued expenses (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accounts payable and accrued expenses
Accounts payable	$4,925	$901
Accrued property taxes	49,018	28,240
Other accrued liabilities	28,972	21,538
Accrued distribution payable		9,274
Accrued construction and maintenance liabilities	23,914	16,917
Resident security deposits	42,877	26,527
Total	$149,706	$103,397

Shareholders_equity_Details

Shareholders' equity (Details) (USD $)	12 Months Ended			1 Months Ended				2 Months Ended	1 Months Ended	24 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Aug. 31, 2014	Aug. 31, 2013	Jul. 31, 2014	Mar. 31, 2013	Dec. 31, 2012	Oct. 31, 2013	Dec. 31, 2014	Jan. 31, 2014	Dec. 31, 2013	31-May-14	Jan. 31, 2015
Class of Stock
Gross proceeds from common stock before offering costs	$308,435,000	$1,548,280,000	$494,839,000
Gross proceeds from issuance of Preferred shares before offering costs	189,433,000	212,596,000
Sale of preferred stock, shares	17,060,000	9,060,000								17,060,000		9,060,000
Series C Convertible Units
Class of Stock
Dividend payable per share	$0.60	$0.15								$0.60		$0.15
Class A common shares
Class of Stock
Common shares sold				17,782,861
Common shares sold in connection with the IPO					55,422,794
Common shares, par value (in dollars per share)	$0.01	$0.01		$0.01						$0.01		$0.01
Gross proceeds from common stock before offering costs				313,300,000
Offering costs				4,900,000
Dividend payable per share	$0.20	$0.05								$0.20		$0.05
Voting interest (as a percent)	30.00%									30.00%
Class A common shares | Beazer Rental Homes
Class of Stock
Common shares sold						8,158,001
Common shares, par value (in dollars per share)						$0.01
Class A common shares | 2013 Offering
Class of Stock
Common shares sold							46,718,750
Class A common shares | 2012 Offering
Class of Stock
Common shares sold								35,360,898
Class B common shares
Class of Stock
Common shares, par value (in dollars per share)	$0.01	$0.01								$0.01		$0.01
Dividend payable per share	$0.20	$0.05								$0.20		$0.05
Common shares entitled to vote	50
Voting interest (as a percent)	30.00%									30.00%
Preferred Units, Issued			653,492					653,492
Class B common shares | 2012 Offering | 2,770 Property Contribution | Sponsor
Class of Stock
Common stock issued in connection with investment (in shares)	635,075									635,075
Preferred shares
Class of Stock
Cumulative annual cash dividend rate	5.00%
Liquidation preference per share	$25									$25
Preferred stock, cumulative change in value of index based on purchase prices of single-family properties (as a percent)	50.00%
Preferred stock, maximum internal rate of return considering initial liquidation liquidation preference (as a percent)	9.00%
Increase in cumulative annual cash dividend rate	10.00%
Liquidation preference (as a percent)	50.00%
Number of single-family properties located in top markets	20
Preferred Stock, Value, Outstanding	441,700,000									441,700,000
Series A Preferred Stock
Class of Stock
Common shares sold in connection with the IPO										5,060,000
Dividend payable per share	$1.25	$0.23								$1.25		$0.23
Cumulative annual cash dividend rate										5.00%
Gross proceeds from issuance of Preferred shares before offering costs									126,500,000
Preferred Units, Issued									5,060,000
Rate of Preferred units									5.00%
Offering costs									7,300,000
Series A Preferred Stock | Subsequent Events
Class of Stock
Rate of Preferred units														5.00%
Series B Preferred Stock
Class of Stock
Common shares sold in connection with the IPO										4,400,000
Dividend payable per share	$1.29									$1.29
Cumulative annual cash dividend rate										5.00%
Gross proceeds from issuance of Preferred shares before offering costs											110,000,000	110,000,000
Preferred Units, Issued		4,400,000									4,400,000	4,400,000
Rate of Preferred units		5.00%									5.00%	5.00%
Offering costs	6,600,000	6,600,000								6,600,000	6,600,000	6,600,000
Series B Preferred Stock | Subsequent Events
Class of Stock
Rate of Preferred units														5.00%
Series C Preferred Stock
Class of Stock
Common shares sold in connection with the IPO										7,600,000
Dividend payable per share	$0.91									$0.91
Cumulative annual cash dividend rate										5.50%
Gross proceeds from issuance of Preferred shares before offering costs													190,000,000
Preferred Units, Issued													7,600,000
Rate of Preferred units													5.50%
Offering costs	$9,700,000									$9,700,000			$9,700,000

Shareholders_equity_Details_2

Shareholders' equity (Details 2) (USD $)	12 Months Ended	0 Months Ended	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Jun. 14, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 12, 2014
Scenario Two, Two Consecutive Quarters [Member]
Class of Stock
Units distribution percentage	70.00%
3.5% Convertible Perpetual Preferred Units
Class of Stock
Preferred Units converted into Class A units		653,492
Class A common shares
Class of Stock
Dividend payable per share	0.2		$0.05
Class A common shares | Subscription Agreement
Class of Stock
Issuance of common shares			434,783
Purchase price per share			$17.25
Class A common shares | Option to purchase | Subscription Agreement
Class of Stock
Issuance of common shares				3,333,334
Aggregate purchase price of shares				$50,000,000
Purchase price per share				$15
Sponsor
Class of Stock
Percentage of units outstanding	21.80%		24.60%
Sponsor | 3.5% Convertible Perpetual Preferred Units
Class of Stock
Preferred Units, Issued				653,492
Dividend Rate for Preferred Units				3.50%
Preferred Units converted into Class A units		653,492
Sponsor | Class A common shares
Class of Stock
Percentage of units outstanding	3.30%		3.70%
Class A Units | Sponsor
Class of Stock
Units owned (in shares)	14,440,670		13,787,292
Closing price per share					$17.11
Series C Convertible Units
Class of Stock
Dividend payable per share	0.60452		$0.15
Series C Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	31,085,974		31,085,974
Series D Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	4,375,000		4,375,000
Series E Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	4,375,000		4,375,000
Sponsor | Class A Units
Class of Stock
Closing price per share					$17.11
Operating Partnership | Sponsor | 3.5% Convertible Perpetual Preferred Units
Class of Stock
Annual distribution				$0.53
Operating Partnership | Class A Units
Class of Stock
Percentage of units outstanding	93.60%		93.10%
Units outstanding (in shares)	225,914,576		199,291,586
Stock split conversion ratio	1
Operating Partnership | Class A Units | Sponsor
Class of Stock
Percentage of units outstanding	6.40%		6.90%
Units owned (in shares)	14,440,670		13,787,292
Operating Partnership | Series C Convertible Units
Class of Stock
Percentage of Property Contribution	3.90%
Percentage of scheduled rents	98.00%
Common Stock Per Unit	15.5
Net Income (Loss) Attributable to Noncontrolling Interest	18,600,000		14,900,000
Operating Partnership | Series C Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	31,085,974		31,085,974
Operating Partnership | Series D Convertible Units
Class of Stock
Stock split conversion ratio	1
Closing price per share	18
Operating Partnership | Series D Convertible Units | Scenario One, Over Four Consecutive Quarters [Member]
Class of Stock
Adjusted funds from operations per common share	0.8
Operating Partnership | Series D Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	4,375,000		4,375,000
Operating Partnership | Series E Convertible Units
Class of Stock
Units owned (in shares)	4,375,000
Stock split conversion ratio	1
Annualized EBITDA Contribution	14,000,000
Operating Partnership | Series E Convertible Units | Scenario Three, Measurement Period [Member]
Class of Stock
EBITDA contribution	28,000,000
Operating Partnership | Series E Convertible Units | Sponsor
Class of Stock
Units owned (in shares)	4,375,000
Certain consolidated subsidiaries with noncontrolling interest
Class of Stock
Net Income (Loss) Attributable to Noncontrolling Interest	300,000		100,000	0
Certain consolidated subsidiaries with noncontrolling interest | Preferred Units
Class of Stock
Net Income (Loss) Attributable to Noncontrolling Interest	0		200,000
Certain consolidated subsidiaries with noncontrolling interest | Class A Units
Class of Stock
Net Income (Loss) Attributable to Noncontrolling Interest	3,400,000		$1,800,000

Shareholders_equity_Details_3

Shareholders' equity (Details 3) (USD $)	0 Months Ended	12 Months Ended			36 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Jun. 10, 2013	Apr. 30, 2013
Aggregate intrinsic value
Intrinsic value for activities other than exercises	$17.03
2012 Equity Incentive Plan | Board of Trustees
Class of Stock
Vesting period		4 years	4 years	4 years
Expiration period					10 years
2012 Equity Incentive Plan | Stock options
Stock Options
Outstanding at beginning of the period (in shares)		1,190,000	700,000
Granted (in shares)		1,270,000	550,000	700,000
Exercised (in shares)		-28,750
Forfeited (in shares)		-266,250	-60,000
Outstanding at end of the period (in shares)	2,165,000	2,165,000	1,190,000	700,000	2,165,000
Exercisable at end of the period (in shares)	375,000	375,000			375,000
Weighted Average Exercise Price
Outstanding at beginning of the period (in dollars per share)		15.48	15
Granted (in dollars per share)		16.74	16.03	15
Exercised (in dollars per share)		15
Forfeited (in dollars per share)		15.88	15
Outstanding at end of the period (in dollars per share)	$16.17	16.17	15.48	15	16.17
Exercisable at end of the period (in dollars per share)	$15.31	15.31			15.31
Aggregate intrinsic value
Weighted average remaining life (years)		8 years 9 months 18 days	9 years 3 months 18 days	9 years 10 months 24 days
Weighted average exercisable (years)		8 years 2 months 12 days
Aggregate intrinsic value	$1,890	1,890	862		1,890
Aggregate intrinsic value exercised		74
Aggregate intrinsic value exercisable	$645	645			645
2012 Equity Incentive Plan | Restricted stock units
Class of Stock
Stock options granted		92,000
2012 Equity Incentive Plan | Class A common shares
Class of Stock
Shares available for issuance				1,500,000			6,000,000
2012 Equity Incentive Plan | Class A common shares | Board of Trustees
Class of Stock
Stock options granted				50,000
2012 Equity Incentive Plan | Class A common shares | Stock options
Class of Stock
Stock options granted		1,270,000	550,000
2012 Equity Incentive Plan | Class A common shares | Stock options | Sponsor
Class of Stock
Stock options granted				650,000
Options reclassified as grants to employees						485,000

Shareholders_equity_Details_4

Shareholders' equity (Details 4) (Class A common shares, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Class A common shares
Class of Stock
Weighted average fair value	$5.06	$4.75	$4.52
Expected term (years)	7 years	7 years	7 years
Dividend Yield	3.00%	3.00%	3.00%
Volatility	38.50%	38.00%	38.00%
Risk-free interest rate	2.20%	2.00%	2.50%

Shareholders_equity_Details_5

Shareholders' equity (Details 5) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Class of Stock
Non-cash share-based compensation expense	$2,586,000	$1,079,000	$70,000
Class A common shares
Class of Stock
Non-cash share-based compensation expense		300,000
Stock options
Class of Stock
Total unrecognized compensation cost	7,100,000
Weighted-average period of unvested cost	2 years 9 months 18 days
Stock options | Class A common shares
Class of Stock
Share-based compensation (in shares)		19,500
Restricted stock units
Class of Stock
Shares awarded	92,000
Shares forfeited	-7,000
Restricted stock units at end of the period	85,000
Total unrecognized compensation cost	1,100,000
Weighted-average period of unvested cost	3 years 1 month 6 days
Stock options and Restricted stock units
Class of Stock
Non-cash share-based compensation expense	$2,600,000	$800,000	$100,000

Related_party_transactions_Det

Related party transactions (Details) (USD $)	0 Months Ended	12 Months Ended			1 Months Ended
	Feb. 28, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Nov. 30, 2012
Related Party Transaction
Permanent reduction in advisory fee	$9,800,000
Administrative expenses paid to related party		6,352,000	937,000
Asset acquisition cost			455,000
Sponsor
Related Party Transaction
Equity interest rate (as a percent)		24.60%		21.80%
Receivable from sponsor		4,500,000		4,000,000
Administrative expenses paid to related party		1,000,000	6,900,000
Sponsor | Class A Units
Related Party Transaction
Units owned (in shares)		13,787,292		14,440,670
Sponsor | Series C Convertible Units
Related Party Transaction
Units owned (in shares)		31,085,974		31,085,974
Sponsor | Series D Convertible Units
Related Party Transaction
Units owned (in shares)		4,375,000		4,375,000
Sponsor | Series E Convertible Units
Related Party Transaction
Units owned (in shares)		4,375,000		4,375,000
Sponsor | Class A common shares
Related Party Transaction
Equity interest rate (as a percent)		3.70%		3.30%
Sponsor | Class B common shares
Related Party Transaction
Shares owned		635,075		635,075
Sponsor | Agreement on Investment Opportunities
Related Party Transaction
Acquisition and renovation fee in percent					5.00%
Monthly maintenance fee				100,000
Acquisition and renovation fees		113,700,000	4,600,000	86,000,000
Asset acquisition cost		108,900,000	4,200,000	67,500,000
Property acquisition cost		4,800,000	400,000	22,100,000
Accrued acquisition and renovation fees		2,600,000
Advisor
Related Party Transaction
Advisory management fee in percent					1.75%
Permanent reduction in advisory fee					9,800,000
Administrative expenses paid to related party		6,400,000
Accrued management fees			900,000
Property Manager
Related Party Transaction
Property management fee, percentage of collected rent					6.00%
Property management fee, percentage of lease annual rent					50.00%
Fees incurred to the Property Manager		1,300,000	12,000
Leasing fees incurred to the Property Manager		2,900,000	100,000
MMI
Related Party Transaction
Administrative expenses paid to related party		$17,000,000		$41,900,000
Operating Partnership | Class A Units
Related Party Transaction
Equity interest rate (as a percent)		93.10%		93.60%
Operating Partnership | Series E Convertible Units
Related Party Transaction
Units owned (in shares)				4,375,000
Operating Partnership | Sponsor | Class A Units
Related Party Transaction
Units owned (in shares)		13,787,292		14,440,670
Equity interest rate (as a percent)		6.90%		6.40%
Operating Partnership | Sponsor | Series C Convertible Units
Related Party Transaction
Units owned (in shares)		31,085,974		31,085,974
Operating Partnership | Sponsor | Series D Convertible Units
Related Party Transaction
Units owned (in shares)		4,375,000		4,375,000
Operating Partnership | Sponsor | Series E Convertible Units
Related Party Transaction
Units owned (in shares)				4,375,000

Contributions_by_AH_LLC_Detail

Contributions by AH LLC (Details) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2013	Dec. 12, 2014	Jun. 14, 2013	Jun. 11, 2013	Dec. 31, 2011
				property
Significant Acquisitions and Disposals
Contributed single-family properties value	$5,916,933,000	$3,923,624,000	$507,845,000					$3,516,000
Units issue to Sponsor, value		500,000
Units issue to Sponsor, value	1,546,000	35,817,000	369,371,000
2012 Offering
Significant Acquisitions and Disposals
Number of properties			367
Investment made in cash by Sponsor			600,000
Contributed single-family properties value			49,400,000
Acquisition Fee Rate			5.00%
Net book value			47,600,000
Costs to transfer title to the properties			500,000
2,770 Property Contribution
Significant Acquisitions and Disposals
Number of properties				2,770
Class A Units
Significant Acquisitions and Disposals
Units issue to Sponsor (in shares)			32,667
Class A common shares | 2012 Offering
Significant Acquisitions and Disposals
Common shares issue to Sponsor in 2012 offering			3,300,000
Sponsor | 2,770 Property Contribution
Significant Acquisitions and Disposals
Common shares issue to Sponsor per share				15.5
Total consideration amount				491,700,000
Sponsor | Class A Units
Significant Acquisitions and Disposals
Units issue to Sponsor (in shares)					653,378
Common units issue to Sponsor per unit					$17.11
Sponsor | Class A common shares
Significant Acquisitions and Disposals
Common shares issue to Sponsor in 2012 offering						705,167
Units issue to Sponsor, value						11,300,000
Sponsor | Class B common shares
Significant Acquisitions and Disposals
Common shares issue to Sponsor in 2012 offering				634,408
Units issue to Sponsor, value				7,700,000
Sponsor | Class B common shares | 2012 Offering
Significant Acquisitions and Disposals
Common shares issue to Sponsor in 2012 offering			667
Sponsor | Class B common shares | 2,770 Property Contribution
Significant Acquisitions and Disposals
Common shares issue to Sponsor in 2012 offering				634,408
Operating Partnership | Sponsor | Series C Convertible Units
Significant Acquisitions and Disposals
Units issue to Sponsor, value				378,800,000
Operating Partnership | Sponsor | Series C Convertible Units | 2,770 Property Contribution
Significant Acquisitions and Disposals
Units issue to Sponsor (in shares)				31,085,974
Common units issue to Sponsor per unit				15.5
Units issue to Sponsor, value				378,800,000
Operating Partnership | Sponsor | Class A Units
Significant Acquisitions and Disposals
Units issue to Sponsor (in shares)							12,395,965
Sponsor | Class A Units
Significant Acquisitions and Disposals
Units issue to Sponsor (in shares)					653,378
Common units issue to Sponsor per unit					$17.11
Sponsor | Class B common shares | 2,770 Property Contribution
Significant Acquisitions and Disposals
Units issue to Sponsor, value				7,700,000
Sponsor | Operating Partnership
Significant Acquisitions and Disposals
Net book value				386,500,000
Sponsor | Operating Partnership | 2,770 Property Contribution
Significant Acquisitions and Disposals
Number of properties				2,770
Net book value				386,500,000

Contributions_by_AH_LLC_Detail1

Contributions by AH LLC (Details 2) (USD $)	0 Months Ended	3 Months Ended								12 Months Ended			10 Months Ended	0 Months Ended		18 Months Ended	2 Months Ended
	Feb. 28, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 12, 2014	Jun. 11, 2013	Dec. 31, 2012	Feb. 28, 2013
																property	property
Significant Acquisitions and Disposals
Single family properties		$5,710,671,000				$3,861,422,000				$5,710,671,000	$3,861,422,000		$3,861,422,000
Other liabilities	-2,500,000																-2,500,000
Rents from single-family properties		109,543,000	104,210,000	88,871,000	73,761,000	61,843,000	47,364,000	17,020,000	6,495,000	376,385,000	132,722,000	4,540,000
Allocated general and administrative expenses										-21,947,000	-8,845,000	-7,199,000
Units issue to Sponsor, value											500,000
Units issue to Sponsor, value										1,546,000	35,817,000	369,371,000
Costs of improvements						13,800,000					13,800,000		13,800,000
Total reduction to additional paid-in capital											356,400,000
Credit associated to properties acquired											19,600,000
Excess of par value associated with issuance of the shares											8,000,000
Par value of common shares											6,000
Change In Par Value Of Common Stock Value											6,000
Decrease In Advisory Fee	9,800,000
Value of units issued										11,179,000
Class B common shares
Significant Acquisitions and Disposals
Increase In Common Units Issued													300,000
Series C Convertible Units
Significant Acquisitions and Disposals
Increase In Common Units Issued													13,500,000
Class A Units
Significant Acquisitions and Disposals
Issuance of units (in shares)												32,667
Sponsor
Significant Acquisitions and Disposals
Single family properties														45
Sponsor | Class B common shares
Significant Acquisitions and Disposals
Units issue to Sponsor, value	7,700,000
Sponsor | Class A Units
Significant Acquisitions and Disposals
Issuance of units (in shares)														653,378
Common units issue to Sponsor per unit														$17.11
Sponsor | Class A Units
Significant Acquisitions and Disposals
Issuance of units (in shares)														653,378
Common units issue to Sponsor per unit														$17.11
Value of units issued														11,200,000
Sponsor | Operating Partnership
Significant Acquisitions and Disposals
Net book value	386,500,000
Operating Partnership | Sponsor | Series C Convertible Units
Significant Acquisitions and Disposals
Units issue to Sponsor, value	378,800,000
Operating Partnership | Sponsor | Class A Units
Significant Acquisitions and Disposals
Issuance of units (in shares)															12,395,965
2,770 Property Contribution
Significant Acquisitions and Disposals
Number of properties	2,770
Single family properties	386,500,000																386,500,000
Other assets	5,117,000																5,117,000
Other liabilities	-7,625,000																-7,625,000
Net assets contributed	383,992,000																383,992,000
Rents from single-family properties	8,133,000
Property operating expenses	-5,246,000
Depreciation	-3,345,000
Allocated general and administrative expenses	-7,989,000
Net loss	-8,447,000
Contributed net assets and net loss	392,439,000
2,770 Property Contribution | Period from June 23, 2011, to December 31, 2012
Significant Acquisitions and Disposals
Number of properties																2,661
Single family properties												365,937,000				365,937,000
Other assets												7,203,000				7,203,000
Other liabilities												-8,183,000				-8,183,000
Net assets contributed												364,957,000				364,957,000
Rents from single-family properties																4,413,000
Property operating expenses																-3,326,000
Depreciation																-2,021,000
Allocated general and administrative expenses																-6,996,000
Net loss																-7,930,000
Contributed net assets and net loss																372,887,000
2,770 Property Contribution | Period from January 1, 2013, to February 28, 2013
Significant Acquisitions and Disposals
Number of properties																	109
Single family properties	20,563,000																20,563,000
Other assets	-2,086,000																-2,086,000
Other liabilities	558,000																558,000
Net assets contributed	19,035,000																19,035,000
Rents from single-family properties																	3,720,000
Property operating expenses																	-1,920,000
Depreciation																	-1,324,000
Allocated general and administrative expenses																	-993,000
Net loss																	-517,000
Contributed net assets and net loss																	19,552,000
2,770 Property Contribution | Sponsor | Class B common shares
Significant Acquisitions and Disposals
Units issue to Sponsor, value	7,700,000
2,770 Property Contribution | Sponsor | Operating Partnership
Significant Acquisitions and Disposals
Number of properties	2,770
Net book value	386,500,000
2,770 Property Contribution | Operating Partnership | Sponsor | Series C Convertible Units
Significant Acquisitions and Disposals
Units issue to Sponsor, value	$378,800,000
Issuance of units (in shares)	31,085,974
Common units issue to Sponsor per unit	$15.50

Acquisitions_and_Dispositions_1

Acquisitions and Dispositions (Details) (USD $)	12 Months Ended		0 Months Ended		6 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Jul. 01, 2014	Dec. 31, 2014	Jun. 10, 2013	Dec. 31, 2012	Dec. 12, 2014	Jun. 14, 2013	Jun. 11, 2013
			property
Acquisitions And Dispositions
Cash consideration	$74,356,000
Estimated fair values of the net assets
Goodwill	120,655,000	120,655,000	120,655,000		120,655,000
Note payable	-51,644,000		-51,644,000		-51,644,000
Units issue to Sponsor, value		500,000
Value of units issued	11,179,000
Ellington portfolio acquisiton
Acquisitions And Dispositions
Acquired of membership interests (as a percent)	100.00%		100.00%		100.00%
Number of properties acquired	914		914		914
Purchase price			126,000,000
Cash consideration			74,400,000
Number of properties treated as collateral			583
Interest rate (as percent)	4.06%		4.06%		4.06%
Percentage of properties leased as of acquisition date	96.30%		96.30%		96.30%
Debt instrument term			5 years
Estimated fair values of the net assets
Land	25,615,000		25,615,000		25,615,000
Building and improvements	98,117,000		98,117,000		98,117,000
Value of in-place leases	2,268,000		2,268,000		2,268,000
Note payable	-51,644,000		-51,644,000		-51,644,000
Fair value of acquired assets	74,356,000		74,356,000		74,356,000
Management Internalization
Acquisitions And Dispositions
Acquired of membership interests (as a percent)						100.00%
Estimated fair values of the net assets
Building and improvements						4,214,000
Goodwill						120,655,000
Fair value of acquired assets						130,069,000
Estimated net monetary assets						7,000,000
Estimated cash and cash equivalents						9,000,000
Monthly maintenance fee	100,000
Management Internalization | Maximum
Estimated fair values of the net assets
Company's right to receive promoted interests in future outside investment (as a percent)	100.00%
Management Internalization | Minimum
Estimated fair values of the net assets
Company's right to receive promoted interests in future outside investment (as a percent)	20.00%
Management Internalization | Trademark
Estimated fair values of the net assets
Identified intangible assets						3,100,000
Management Internalization | Database
Estimated fair values of the net assets
Identified intangible assets						2,100,000
Alaska Joint Venture Acquisition
Acquisitions And Dispositions
Number of properties acquired										4,778
Percentage of properties leased as of acquisition date										75.00%
Estimated fair values of the net assets
Land										156,648,000
Building and improvements										740,396,000
Receivable for net cash flows prior to acquisition date										1,896,000
Value of in-place leases										5,547,000
Fair value of acquired assets										904,487,000
Estimated cash and cash equivalents										23,000,000
Net cash flows produced by Joint Venture										1,896,000
Estimated net monetary assets										13,000,000
Beazer Rental Homes
Acquisitions And Dispositions
Acquired of membership interests (as a percent)				100.00%
Number of properties acquired				1,372
Purchase price				257,400,000
Cash consideration	4,400,000			5,000,000
Amount withheld from indemnification escrow	600,000
Period of escrow				6 months
Liabilities outstanding				108,200,000
Estimated fair values of the net assets
Land				60,866,000
Building and improvements				193,506,000
Receivable for net cash flows prior to acquisition date				2,197,000
Value of in-place leases				2,655,000
Other current assets and liabilities, net				-1,785,000
Fair value of acquired assets				257,439,000
Issuance of common shares				8,158,001
Net cash flows produced by Joint Venture				2,197,000
Total revenues and net income attributable to acquisitions
Total revenues					10,422,000
Net income					1,713,000
Series D Convertible Units | Sponsor
Estimated fair values of the net assets
Units owned (in shares)	4,375,000	4,375,000	4,375,000		4,375,000
Series D Convertible Units | Operating Partnership
Estimated fair values of the net assets
Issuance of units (in shares)						4,375,000
Series E Convertible Units | Sponsor
Estimated fair values of the net assets
Units owned (in shares)	4,375,000	4,375,000	4,375,000		4,375,000
Class A Units
Estimated fair values of the net assets
Issuance of units (in shares)							32,667
Class A Units | Sponsor
Estimated fair values of the net assets
Issuance of units (in shares)								653,378
Units owned (in shares)	14,440,670	13,787,292	14,440,670		14,440,670
Class A common shares | Sponsor
Estimated fair values of the net assets
Units issue to Sponsor, value									11,300,000
Issuance of common shares									705,167
Class A common shares | Alaska Joint Venture Acquisition
Estimated fair values of the net assets
Issuance of common shares										43,609,394
Class A common shares | Beazer Rental Homes
Acquisitions And Dispositions
Consideration paid in common shares				8,158,001
Estimated fair values of the net assets
Units issue to Sponsor, value	144,800,000
Operating Partnership | Series D Convertible Units
Estimated fair values of the net assets
Issuance of units (in shares)						4,375,000
Operating Partnership | Series D Convertible Units | Sponsor
Estimated fair values of the net assets
Units owned (in shares)	4,375,000	4,375,000	4,375,000		4,375,000
Operating Partnership | Series D Convertible Units | Management Internalization | Sponsor
Estimated fair values of the net assets
Value of units issued						65,200,000
Operating Partnership | Series E Convertible Units
Estimated fair values of the net assets
Units owned (in shares)	4,375,000		4,375,000		4,375,000
Operating Partnership | Series E Convertible Units | Sponsor
Estimated fair values of the net assets
Units owned (in shares)	4,375,000		4,375,000		4,375,000
Operating Partnership | Series E Convertible Units | Management Internalization | Sponsor
Estimated fair values of the net assets
Value of units issued						64,900,000
Operating Partnership | Class A Units | Sponsor
Estimated fair values of the net assets
Issuance of units (in shares)										12,395,965
Units owned (in shares)	14,440,670	13,787,292	14,440,670		14,440,670
Operating Partnership | Class A Units | Alaska Joint Venture Acquisition
Estimated fair values of the net assets
Issuance of units (in shares)										12,395,965

Acquisitions_and_Dispositions_2

Acquisitions and Dispositions (Details 2)	0 Months Ended
	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Sep. 20, 2012	Mar. 15, 2013
		property	property	property	property
Acquisitions And Dispositions
Number of properties		34,599	23,268
Class B common shares
Acquisitions And Dispositions
Preferred units issued	653,492
Percentage of promoted interest distributions made from RJ1 to RJ LLC	20.00%
RJ American Homes 4 Rent One, LLC [Member]
Acquisitions And Dispositions
Number of properties				177
Ownership interest (as a percent)				100.00%
RJ American Homes 4 Rent One, LLC [Member] | Class B common shares
Acquisitions And Dispositions
Ownership interest (as a percent)				33.00%
RJ American Homes 4 Rent One, LLC [Member] | Class A common shares
Acquisitions And Dispositions
Ownership interest (as a percent)				67.00%
RJ American Homes 4 Rent Two, LLC [Member]
Acquisitions And Dispositions
Number of properties					214
Ownership interest (as a percent)					100.00%
RJ American Homes 4 Rent Two, LLC [Member] | Class B common shares
Acquisitions And Dispositions
Ownership interest (as a percent)					33.00%
RJ American Homes 4 Rent Two, LLC [Member] | Class A common shares
Acquisitions And Dispositions
Ownership interest (as a percent)					67.00%

Acquisitions_and_Dispositions_3

Acquisitions and Dispositions (Details 3) (USD $)	12 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Jun. 14, 2013	Dec. 31, 2012
Acquisitions And Dispositions
Units issue to Sponsor, value	$500
3.5% Convertible Perpetual Preferred Units
Acquisitions And Dispositions
Preferred Units converted into Class A units		653,492
Class A common shares
Acquisitions And Dispositions
Units issued upon conversion		653,492
Sponsor | 3.5% Convertible Perpetual Preferred Units
Acquisitions And Dispositions
Preferred Units converted into Class A units		653,492
Rate of Preferred units			3.50%
Sponsor | Class A common shares
Acquisitions And Dispositions
Common shares issue to Sponsor in 2012 offering		705,167
Units issue to Sponsor, value		11,300
Conversion ratio		1
RJ LLC, RJ1 and RJ2
Acquisitions And Dispositions
Number of single-family properties		377
Estimated fair values of the net assets
Land		10,340
Building and improvements		54,123
Value of in-place leases		539
Cash and cash equivalents		1,128
Other current assets and liabilities, net		-311
Note payable		-7,600
Noncontrolling interest		-39,321
Fair value of acquired net assets		18,898
RJ LLC
Acquisitions And Dispositions
Ownership interest (as a percent)		100.00%

Acquisitions_and_Dispositions_4

Acquisitions and Dispositions (Details 4 ) (USD $)	12 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 14, 2013
Acquisitions And Dispositions
Gain on remeasurement of equity method investment	$10,945
RJ Joint Ventures Acquisition
Acquisitions And Dispositions
Fair value of existing Class B interest		7,615
Carrying value of Class B interest		-3,330
Gain on remeasurement of equity method investment		$10,945

Acquisitions_and_Dispositions_5

Acquisitions and Dispositions (Details 5) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Supplemental consolidated pro forma total revenues and net income
Pro forma total revenues	$421,033	$176,340
Pro forma net loss	($32,858)	($32,161)

Acquisitions_and_Dispositions_6

Acquisitions and Dispositions (Details 6) (USD $)	7 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
Management Internalization
Acquisitions And Dispositions
Total revenues	$1,502,000
Net (loss) / income	-26,179,000
Total revenues and net loss attributable to the management	24,000,000
Alaska Joint Venture Acquisition
Acquisitions And Dispositions
Total revenues		38,054,000
Net (loss) / income		2,256,000
2013 RJ Transaction
Acquisitions And Dispositions
Total revenues			2,723,000
Net (loss) / income			$52,000

Acquisitions_and_Dispositions_7

Acquisitions and Dispositions (Details 7) (USD $)	0 Months Ended	12 Months Ended
	Jun. 27, 2013	Dec. 31, 2013	Jun. 27, 2013
			property
Acquisitions and Dispositions
Number of properties sold			38
Gross sales price of properties sold	$8,900,000
Gain on disposition of single-family properties	$900,000	$904,000

Earnings_per_share_Details

Earnings per share (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income / (loss) (numerator):
Loss from continuing operations									($33,092)	($20,074)	($10,236)
Income from discontinued operations										1,008
Noncontrolling interest									14,965	13,245
Dividends on preferred shares									18,928	1,160
Conversion of preferred units										10,456
Net loss attributable to common shareholders	($19,312)	($21,747)	($12,250)	($13,676)	($14,519)	($7,659)	($13,997)	($7,752)	($66,985)	($43,927)	($10,236)
Weighted-average shares (denominator)
Weighted average shares outstanding - basic and diluted (in shares)									196,348,757	123,592,086	7,225,512
Net loss per share-basic and diluted:
Loss from continuing operations (in dollars per share)									($0.34)	($0.37)	($1.42)
Income from discontinued operations (in dollars per share)										$0.01
Net loss per share-basic and diluted	($0.09)	($0.11)	($0.07)	($0.07)	($0.08)	($0.05)	($0.15)	($0.16)	($0.34)	($0.36)	($1.42)

Earnings_per_share_Details_2

Earnings per share (Details 2)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Earnings Per Share Basic And Diluted By Common Class
Total weighted average shares	73,586,644	63,873,266	4,719,493
Class A common shares
Schedule Of Earnings Per Share Basic And Diluted By Common Class
Common shares, shares issued	210,838,831	184,869,219
Class B common shares
Schedule Of Earnings Per Share Basic And Diluted By Common Class
Common shares, shares issued	635,075	635,075

Commitments_and_contingencies_1

Commitments and contingencies (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Operating leases rental expenses
Rent expense	$1,867	$809
Less: income from subleases	-11
Net rent expense	1,856	809
Future lease obligations under our operating leases
2015	1,818
2016	1,632
2017	892
2018	183
2019	4
Total lease commitments	4,529
Less: income from subleases	-428
Net lease commitments	$4,101

Commitments_and_contingencies_2

Commitments and contingencies (Details 2) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	property	property
Commitments and contingencies
Number of properties	34,599	23,268
Company contributions	$0.30	$0.20	$0.20
Commitment to renovate homes
Commitments and contingencies
Aggregate outstanding commitment	4.1	1.5
Commitment to acquire properties
Commitments and contingencies
Number of properties	703	536
Aggregate purchase price	$110.90	$75.50

Noncash_transactions_Details

Noncash transactions (Details) (USD $)	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Jun. 14, 2013	Dec. 31, 2012	Jun. 10, 2013	Feb. 28, 2013	Dec. 12, 2014	Jun. 11, 2013	Jul. 01, 2014	Dec. 31, 2013
Nonmonetary Transaction
Value of units issued	$11,179,000
Single family properties	5,710,671,000								3,861,422,000
Class A common shares
Nonmonetary Transaction
Units issued upon conversion		653,492
3.5% Convertible Perpetual Preferred Units
Nonmonetary Transaction
Preferred Units converted into Class A units		653,492
Class A Units
Nonmonetary Transaction
Issuance of units (in shares)			32,667
Operating Partnership | Series D Convertible Units
Nonmonetary Transaction
Issuance of units (in shares)				4,375,000
Operating Partnership | Series E Convertible Units
Nonmonetary Transaction
Issuance of units (in shares)				4,375,000
Sponsor
Nonmonetary Transaction
Single family properties						45
Sponsor | Class B common shares
Nonmonetary Transaction
Issuance of common shares					634,408
Sponsor | Class A common shares
Nonmonetary Transaction
Issuance of common shares		705,167
Sponsor | 3.5% Convertible Perpetual Preferred Units
Nonmonetary Transaction
Preferred Units converted into Class A units		653,492
Sponsor | Class A Units
Nonmonetary Transaction
Issuance of units (in shares)						653,378
Common units issue to Sponsor per unit						$17.11
Alaska Joint Venture Acquisition | Class A common shares
Nonmonetary Transaction
Issuance of common shares							43,609,394
Beazer Rental Homes
Nonmonetary Transaction
Purchase price								257,400,000
Issuance of common shares								8,158,001
Sponsor | Class A Units
Nonmonetary Transaction
Issuance of units (in shares)						653,378
Common units issue to Sponsor per unit						$17.11
Value of units issued						$11,200,000
Sponsor | Operating Partnership
Nonmonetary Transaction
Number of properties contributed to the Operating Partnership					2,770
Sponsor | Operating Partnership | Series C Convertible Units
Nonmonetary Transaction
Issuance of units (in shares)					31,085,974
Operating Partnership | Series D Convertible Units
Nonmonetary Transaction
Issuance of units (in shares)				4,375,000
Common units issue to Sponsor per unit	$18
Operating Partnership | Series E Convertible Units
Nonmonetary Transaction
Issuance of units (in shares)				4,375,000
Operating Partnership | Sponsor | Class A Units
Nonmonetary Transaction
Issuance of units (in shares)							12,395,965
Operating Partnership | Alaska Joint Venture Acquisition | Class A Units
Nonmonetary Transaction
Issuance of units (in shares)							12,395,965

Fair_Value_Details

Fair Value (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Interest rate cap agreement	$14
Liabilities:
Contingently convertible Series E units liability	72,057	66,938
Preferred shares derivative liability	57,960	28,150
Significant Other Observable Inputs (Level 2) | Recurring
Assets:
Interest rate cap agreement	14
Significant Unobservable Inputs (Level 3) | Recurring
Liabilities:
Contingently convertible Series E units liability	72,057	66,938
Preferred shares derivative liability	$57,960	$28,150

Fair_Value_Details_2

Fair Value (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Liabilities, Fair Value Disclosure [Abstract]
Contingently convertible Series E units liability, Beginning Balance	$66,938
Contingently convertible Series E units liability, Issuances		64,881
Contingently convertible Series E units liability, Remeasurement included in earnings	5,119	2,057
Contingently convertible Series E units liability, Ending Balance	72,057	66,938
Preferred shares derivative liability, Beginning Balance	28,150
Preferred shares derivative liability, Issuance	23,652	26,340
Preferred shares derivative liability, Remeasurement included in earnings	6,158	1,810
Preferred shares derivative liability, Ending Balance	$57,960	$28,150

Quarterly_financial_informatio2

Quarterly financial information (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly financial information
Rents from single-family properties	$109,543	$104,210	$88,871	$73,761	$61,843	$47,364	$17,020	$6,495	$376,385	$132,722	$4,540
Net (loss) income	-9,992	-12,796	-3,369	-6,935	-9,471	-3,861	1,123	-6,857	-33,092	-19,066	-10,236
Net loss attributable to common shareholders	($19,312)	($21,747)	($12,250)	($13,676)	($14,519)	($7,659)	($13,997)	($7,752)	($66,985)	($43,927)	($10,236)
Net loss attributable to common shareholders per share - basic and diluted	($0.09)	($0.11)	($0.07)	($0.07)	($0.08)	($0.05)	($0.15)	($0.16)	($0.34)	($0.36)	($1.42)

Subsequent_events_Details

Subsequent events (Details) (USD $)	12 Months Ended		0 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2015	Feb. 26, 2015	Mar. 31, 2015	Oct. 31, 2013	Jan. 31, 2014
	property	property
Subsequent Event
Credit facility, repayment, amount	$1,996,000,000	$1,050,000,000
Total debt	207,000,000	375,000,000
Number of Real Estate Properties	34,599	23,268
Gross proceeds from the sale of certificates	1,497,039,000
Single family homes
Subsequent Event
Number of Real Estate Properties	34,599	23,268
Series A Preferred Stock
Subsequent Event
Dividend Rate for Preferred Units						5.00%
Series B Preferred Stock
Subsequent Event
Dividend Rate for Preferred Units		5.00%					5.00%
Senior Secured Revolving Credit Facility
Subsequent Event
Total debt	207,000,000
Subsequent Events
Subsequent Event
Number of properties acquired					880
Aggregate purchase price of properties acquired					131,900,000
Subsequent Events | Class A common shares
Subsequent Event
Common Stock, Dividends, Per Share, Declared			$0.05
Subsequent Events | Class B common shares
Subsequent Event
Common Stock, Dividends, Per Share, Declared			$0.05
Subsequent Events | Series A Preferred Stock
Subsequent Event
Common Stock, Dividends, Per Share, Declared			$0.31
Dividend Rate for Preferred Units			5.00%
Subsequent Events | Series B Preferred Stock
Subsequent Event
Common Stock, Dividends, Per Share, Declared			$0.31
Dividend Rate for Preferred Units			5.00%
Subsequent Events | 5.50% Series C participating preferred shares
Subsequent Event
Common Stock, Dividends, Per Share, Declared			$0.34
Dividend Rate for Preferred Units			5.50%
Subsequent Events | 2015-SFR 1 | Single family homes
Subsequent Event
Number of Real Estate Properties				4,661
Gross proceeds from the sale of certificates				552,800,000
Debt instrument initial term				30 years
Anticipated repayment date				10 years
Weighted-average interest rate				4.14%
Subsequent Events | Senior Secured Revolving Credit Facility
Subsequent Event
Credit facility, additional borrowings, amount					146,000,000
Total debt					$353,000,000

Schedule_III_Real_Estate_and_A1

Schedule III - Real Estate and Accumulated Depreciation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	property
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	34,599
Initial Cost to Company, Land	$1,104,409
Initial Cost to Company, Buildings and Improvements	4,246,405
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	566,119
Total Cost, Land	1,104,409
Total Cost, Buildings and Improvements	4,812,524
Total	5,916,933	3,923,624	507,845	3,516
Accumulated Depreciation	-206,262	-62,202	-2,132	-21
Net Cost Basis	5,710,671
Albuquerque
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	213
Initial Cost to Company, Land	6,513
Initial Cost to Company, Buildings and Improvements	24,181
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,896
Total Cost, Land	6,513
Total Cost, Buildings and Improvements	27,077
Total	33,590
Accumulated Depreciation	-1,186
Net Cost Basis	32,404
Antelope Valley
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	6
Initial Cost to Company, Land	212
Initial Cost to Company, Buildings and Improvements	898
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	224
Total Cost, Land	212
Total Cost, Buildings and Improvements	1,122
Total	1,334
Accumulated Depreciation	-44
Net Cost Basis	1,290
Atlanta
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	2,257
Initial Cost to Company, Land	75,611
Initial Cost to Company, Buildings and Improvements	246,916
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	41,283
Total Cost, Land	75,611
Total Cost, Buildings and Improvements	288,199
Total	363,810
Accumulated Depreciation	-13,243
Net Cost Basis	350,567
Augusta
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	181
Initial Cost to Company, Land	5,244
Initial Cost to Company, Buildings and Improvements	20,617
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,617
Total Cost, Land	5,244
Total Cost, Buildings and Improvements	23,234
Total	28,478
Accumulated Depreciation	-723
Net Cost Basis	27,755
Austin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	629
Initial Cost to Company, Land	14,546
Initial Cost to Company, Buildings and Improvements	66,563
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10,951
Total Cost, Land	14,546
Total Cost, Buildings and Improvements	77,514
Total	92,060
Accumulated Depreciation	-2,974
Net Cost Basis	89,086
Bay Area
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	91
Initial Cost to Company, Land	6,610
Initial Cost to Company, Buildings and Improvements	19,948
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,602
Total Cost, Land	6,610
Total Cost, Buildings and Improvements	21,550
Total	28,160
Accumulated Depreciation	-1,015
Net Cost Basis	27,145
Boise
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	282
Initial Cost to Company, Land	7,925
Initial Cost to Company, Buildings and Improvements	28,790
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,114
Total Cost, Land	7,925
Total Cost, Buildings and Improvements	31,904
Total	39,829
Accumulated Depreciation	-1,263
Net Cost Basis	38,566
Central Valley
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	174
Initial Cost to Company, Land	6,800
Initial Cost to Company, Buildings and Improvements	22,260
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,333
Total Cost, Land	6,800
Total Cost, Buildings and Improvements	24,593
Total	31,393
Accumulated Depreciation	-1,578
Net Cost Basis	29,815
Charleston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	534
Initial Cost to Company, Land	19,602
Initial Cost to Company, Buildings and Improvements	67,246
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	8,108
Total Cost, Land	19,602
Total Cost, Buildings and Improvements	75,354
Total	94,956
Accumulated Depreciation	-2,835
Net Cost Basis	92,121
Charlotte
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,975
Initial Cost to Company, Land	64,366
Initial Cost to Company, Buildings and Improvements	251,767
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	22,426
Total Cost, Land	64,366
Total Cost, Buildings and Improvements	274,193
Total	338,559
Accumulated Depreciation	-9,480
Net Cost Basis	329,079
Chicago
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,968
Initial Cost to Company, Land	60,001
Initial Cost to Company, Buildings and Improvements	238,239
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	41,611
Total Cost, Land	60,001
Total Cost, Buildings and Improvements	279,850
Total	339,851
Accumulated Depreciation	-11,520
Net Cost Basis	328,331
Cincinnati
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,776
Initial Cost to Company, Land	56,556
Initial Cost to Company, Buildings and Improvements	217,595
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	30,298
Total Cost, Land	56,556
Total Cost, Buildings and Improvements	247,893
Total	304,449
Accumulated Depreciation	-10,458
Net Cost Basis	293,991
Colorado Springs
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	21
Initial Cost to Company, Land	871
Initial Cost to Company, Buildings and Improvements	2,825
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	620
Total Cost, Land	871
Total Cost, Buildings and Improvements	3,445
Total	4,316
Accumulated Depreciation	-214
Net Cost Basis	4,102
Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	288
Initial Cost to Company, Land	6,726
Initial Cost to Company, Buildings and Improvements	33,429
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,552
Total Cost, Land	6,726
Total Cost, Buildings and Improvements	36,981
Total	43,707
Accumulated Depreciation	-1,333
Net Cost Basis	42,374
Columbus
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,265
Initial Cost to Company, Land	32,579
Initial Cost to Company, Buildings and Improvements	134,691
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	23,364
Total Cost, Land	32,579
Total Cost, Buildings and Improvements	158,055
Total	190,634
Accumulated Depreciation	-5,913
Net Cost Basis	184,721
Dallas-Fort Worth
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	2,837
Initial Cost to Company, Land	78,980
Initial Cost to Company, Buildings and Improvements	319,641
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	52,842
Total Cost, Land	78,980
Total Cost, Buildings and Improvements	372,483
Total	451,463
Accumulated Depreciation	-17,447
Net Cost Basis	434,016
Denver
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	642
Initial Cost to Company, Land	30,894
Initial Cost to Company, Buildings and Improvements	126,449
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	11,247
Total Cost, Land	30,894
Total Cost, Buildings and Improvements	137,696
Total	168,590
Accumulated Depreciation	-3,494
Net Cost Basis	165,096
Fort Myers
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	33
Initial Cost to Company, Land	799
Initial Cost to Company, Buildings and Improvements	4,824
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	510
Total Cost, Land	799
Total Cost, Buildings and Improvements	5,334
Total	6,133
Accumulated Depreciation	-333
Net Cost Basis	5,800
Greensboro
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	532
Initial Cost to Company, Land	15,646
Initial Cost to Company, Buildings and Improvements	68,856
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,292
Total Cost, Land	15,646
Total Cost, Buildings and Improvements	75,148
Total	90,794
Accumulated Depreciation	-2,813
Net Cost Basis	87,981
Greenville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	552
Initial Cost to Company, Land	13,961
Initial Cost to Company, Buildings and Improvements	72,490
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	7,149
Total Cost, Land	13,961
Total Cost, Buildings and Improvements	79,639
Total	93,600
Accumulated Depreciation	-3,058
Net Cost Basis	90,542
Houston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,772
Initial Cost to Company, Land	48,939
Initial Cost to Company, Buildings and Improvements	220,362
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	36,263
Total Cost, Land	48,939
Total Cost, Buildings and Improvements	256,625
Total	305,564
Accumulated Depreciation	-11,085
Net Cost Basis	294,479
Indiana
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	2,675
Initial Cost to Company, Land	73,017
Initial Cost to Company, Buildings and Improvements	285,887
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	44,338
Total Cost, Land	73,017
Total Cost, Buildings and Improvements	330,225
Total	403,242
Accumulated Depreciation	-15,581
Net Cost Basis	387,661
Inland Empire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	130
Initial Cost to Company, Land	11,901
Initial Cost to Company, Buildings and Improvements	19,554
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,339
Total Cost, Land	11,901
Total Cost, Buildings and Improvements	20,893
Total	32,794
Accumulated Depreciation	-388
Net Cost Basis	32,406
Jacksonville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,357
Initial Cost to Company, Land	36,407
Initial Cost to Company, Buildings and Improvements	143,011
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	22,478
Total Cost, Land	36,407
Total Cost, Buildings and Improvements	165,489
Total	201,896
Accumulated Depreciation	-7,965
Net Cost Basis	193,931
Knoxville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	298
Initial Cost to Company, Land	9,785
Initial Cost to Company, Buildings and Improvements	46,239
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,790
Total Cost, Land	9,785
Total Cost, Buildings and Improvements	50,029
Total	59,814
Accumulated Depreciation	-2,138
Net Cost Basis	57,676
Las Vegas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	908
Initial Cost to Company, Land	27,115
Initial Cost to Company, Buildings and Improvements	115,208
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	16,940
Total Cost, Land	27,115
Total Cost, Buildings and Improvements	132,148
Total	159,263
Accumulated Depreciation	-7,430
Net Cost Basis	151,833
Memphis
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	516
Initial Cost to Company, Land	16,166
Initial Cost to Company, Buildings and Improvements	55,981
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	4,811
Total Cost, Land	16,166
Total Cost, Buildings and Improvements	60,792
Total	76,958
Accumulated Depreciation	-968
Net Cost Basis	75,990
Miami
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	305
Initial Cost to Company, Land	8,386
Initial Cost to Company, Buildings and Improvements	45,628
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,958
Total Cost, Land	8,386
Total Cost, Buildings and Improvements	52,586
Total	60,972
Accumulated Depreciation	-2,671
Net Cost Basis	58,301
Milwaukee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	127
Initial Cost to Company, Land	7,481
Initial Cost to Company, Buildings and Improvements	22,367
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,058
Total Cost, Land	7,481
Total Cost, Buildings and Improvements	24,425
Total	31,906
Accumulated Depreciation	-1,481
Net Cost Basis	30,425
Nashville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,309
Initial Cost to Company, Land	49,167
Initial Cost to Company, Buildings and Improvements	199,567
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	21,542
Total Cost, Land	49,167
Total Cost, Buildings and Improvements	221,109
Total	270,276
Accumulated Depreciation	-10,874
Net Cost Basis	259,402
Oklahoma City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	339
Initial Cost to Company, Land	9,213
Initial Cost to Company, Buildings and Improvements	47,067
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	4,681
Total Cost, Land	9,213
Total Cost, Buildings and Improvements	51,748
Total	60,961
Accumulated Depreciation	-958
Net Cost Basis	60,003
Orlando
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	981
Initial Cost to Company, Land	28,000
Initial Cost to Company, Buildings and Improvements	120,849
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	16,308
Total Cost, Land	28,000
Total Cost, Buildings and Improvements	137,157
Total	165,157
Accumulated Depreciation	-6,148
Net Cost Basis	159,009
Phoenix
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,381
Initial Cost to Company, Land	39,048
Initial Cost to Company, Buildings and Improvements	158,826
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	21,382
Total Cost, Land	39,048
Total Cost, Buildings and Improvements	180,208
Total	219,256
Accumulated Depreciation	-9,868
Net Cost Basis	209,388
Portland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	204
Initial Cost to Company, Land	14,302
Initial Cost to Company, Buildings and Improvements	23,731
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,726
Total Cost, Land	14,302
Total Cost, Buildings and Improvements	25,457
Total	39,759
Accumulated Depreciation	-1,384
Net Cost Basis	38,375
Raleigh
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,297
Initial Cost to Company, Land	45,699
Initial Cost to Company, Buildings and Improvements	168,954
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	16,831
Total Cost, Land	45,699
Total Cost, Buildings and Improvements	185,785
Total	231,484
Accumulated Depreciation	-7,226
Net Cost Basis	224,258
Sacramento
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	29
Initial Cost to Company, Land	54,708
Initial Cost to Company, Buildings and Improvements	140,000
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,325
Total Cost, Land	54,708
Total Cost, Buildings and Improvements	157,325
Total	212,033
Accumulated Depreciation	-72
Net Cost Basis	204,689
Salt Lake City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	981
Initial Cost to Company, Land	1,664
Initial Cost to Company, Buildings and Improvements	3,760
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	275
Total Cost, Land	1,664
Total Cost, Buildings and Improvements	4,035
Total	5,699
Accumulated Depreciation	-7,344
Net Cost Basis	5,627
San Antonio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	790
Initial Cost to Company, Land	20,833
Initial Cost to Company, Buildings and Improvements	87,791
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	9,500
Total Cost, Land	20,833
Total Cost, Buildings and Improvements	97,291
Total	118,124
Accumulated Depreciation	-2,848
Net Cost Basis	115,276
Savannah/Hilton Head
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	347
Initial Cost to Company, Land	10,416
Initial Cost to Company, Buildings and Improvements	40,171
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,968
Total Cost, Land	10,416
Total Cost, Buildings and Improvements	44,139
Total	54,555
Accumulated Depreciation	-1,155
Net Cost Basis	53,400
Seattle
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	257
Initial Cost to Company, Land	12,579
Initial Cost to Company, Buildings and Improvements	36,685
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	4,429
Total Cost, Land	12,579
Total Cost, Buildings and Improvements	41,114
Total	53,693
Accumulated Depreciation	-2,062
Net Cost Basis	51,631
Tampa
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	1,486
Initial Cost to Company, Land	53,579
Initial Cost to Company, Buildings and Improvements	201,583
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	24,335
Total Cost, Land	53,579
Total Cost, Buildings and Improvements	225,918
Total	279,497
Accumulated Depreciation	-10,156
Net Cost Basis	269,341
Tucson
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	396
Initial Cost to Company, Land	7,650
Initial Cost to Company, Buildings and Improvements	38,278
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,643
Total Cost, Land	7,650
Total Cost, Buildings and Improvements	44,921
Total	52,571
Accumulated Depreciation	-2,990
Net Cost Basis	49,581
Winston Salem
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes	458
Initial Cost to Company, Land	13,912
Initial Cost to Company, Buildings and Improvements	56,681
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,160
Total Cost, Land	13,912
Total Cost, Buildings and Improvements	61,841
Total	75,753
Accumulated Depreciation	-2,547
Net Cost Basis	$73,206

Schedule_III_Real_Estate_and_A2

Schedule III - Real Estate and Accumulated Depreciation (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in total real estate assets
Balance, beginning of period	$3,923,624	$507,845	$3,516
Acquisitions and building improvements	2,004,742	3,423,903	504,329
Dispositions	-11,433	-8,124
Balance, end of period	$5,916,933	$3,923,624	$507,845

Schedule_III_Real_Estate_and_A3

Schedule III - Real Estate and Accumulated Depreciation (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in accumulated depreciation
Balance, beginning of period	($62,202)	($2,132)	($21)
Depreciation	-144,270	-60,254	-2,111
Dispositions	210	184
Balance, end of period	($206,262)	($62,202)	($2,132)