American Homes 4 Rent (AMH) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 13, 2013	Nov. 13, 2013
		Class A Common Shares [Member]	Class B Common Shares [Member]
Document Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'
Trading Symbol	'AMH	'	'
Entity Registrant Name	'AMERICAN HOMES 4 RENT	'	'
Entity Central Index Key	'0001562401	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Non-accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	184,856,219	635,075

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Single-family properties:	'	'
Land	$668,336,000	$96,139,000
Buildings and improvements	2,896,559,000	411,706,000
Single-family properties, gross	3,564,895,000	507,845,000
Less: accumulated depreciation	-34,773,000	-2,132,000
Single-family properties, net	3,530,122,000	505,713,000
Cash and cash equivalents	158,065,000	397,198,000
Restricted cash for resident security deposits	21,282,000	'
Rent and other receivables	6,758,000	6,586,000
Escrow deposits, prepaid expenses and other assets	23,861,000	11,961,000
Deferred costs and other intangibles, net	24,518,000	'
Goodwill	120,655,000	'
Total assets	3,885,261,000	921,458,000
Liabilities	'	'
Credit facility	238,000,000	'
Accounts payable and accrued expenses	91,637,000	11,282,000
Amounts payable to affiliates	1,012,000	5,012,000
Contingently convertible Series E units liability	65,319,000	'
Total liabilities	395,968,000	16,294,000
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Additional paid-in capital	2,809,829,000	914,565,000
Accumulated deficit	-39,686,000	-10,278,000
Total shareholders' equity	2,771,997,000	904,674,000
Noncontrolling interest	717,296,000	490,000
Total equity	3,489,293,000	905,164,000
Total liabilities and equity	3,885,261,000	921,458,000
Class A Common Shares [Member]	'	'
Shareholders' equity:	'	'
Common shares, value	1,848,000	387,000
Class B Common Shares [Member]	'	'
Shareholders' equity:	'	'
Common shares, value	$6,000	'

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Class A Common Shares [Member]	'	'
Common shares, par value	$0.01	$0.01
Common shares, shares authorized	450,000,000	450,000,000
Common shares, shares issued	184,856,219	38,663,998
Common shares, shares outstanding	184,856,219	38,663,998
Class B Common Shares [Member]	'	'
Common shares, par value	$0.01	$0.01
Common shares, shares authorized	50,000,000	50,000,000
Common shares, shares issued	635,075	667
Common shares, shares outstanding	635,075	667

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Rents from single-family properties	$48,743,000	$983,000	$72,887,000	$1,263,000
Other	720,000	'	1,255,000	'
Total revenues	49,463,000	983,000	74,142,000	1,263,000
Expenses:	'	'	'	'
Leased single-family properties	17,579,000	360,000	26,941,000	493,000
Vacant single-family properties and other	7,873,000	517,000	13,993,000	635,000
General and administrative expense	2,742,000	2,291,000	5,178,000	3,948,000
Advisory fees	'	'	6,352,000	'
Interest expense	'	'	370,000	'
Noncash share-based compensation expense	153,000	'	606,000	'
Acquisition fees and costs expensed	496,000	'	3,985,000	'
Depreciation and amortization	24,043,000	490,000	37,827,000	592,000
Total expenses	52,886,000	3,658,000	95,252,000	5,668,000
Gain on remeasurement of equity method investment	'	'	10,945,000	'
Remeasurement of Series E units	-438,000	'	-438,000	'
Loss from continuing operations	-3,861,000	-2,675,000	-10,603,000	-4,405,000
Discontinued operations	'	'	'	'
Gain on disposition of assets	'	'	904,000	'
Income from discontinued operations	'	'	104,000	'
Total income from discontinued operations	'	'	1,008,000	'
Net loss	-3,861,000	-2,675,000	-9,595,000	-4,405,000
Noncontrolling interest	3,798,000	'	9,357,000	'
Conversion of preferred units	'	'	10,456,000	'
Net loss attributable to common shareholders	($7,659,000)	($2,675,000)	($29,408,000)	($4,405,000)
Weighted average shares outstanding - basic and diluted	162,725,150	3,301,667	102,729,661	3,301,667
Net loss per share - basic and diluted:	'	'	'	'
Loss from continuing operations	($0.05)	($0.81)	($0.30)	($1.33)
Discontinued operations	'	'	$0.01	'
Net loss attributable to common shareholders per share - basic and diluted	($0.05)	($0.81)	($0.29)	($1.33)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Equity (USD $)

Total

Alaska Joint Venture Acquisition [Member]

RJ LLC [Member]

2,770 Property Contribution [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Accumulated Deficit [Member]

Shareholders' Equity [Member]

Shareholders' Equity [Member]

Shareholders' Equity [Member]

Noncontrolling Interest [Member]

Noncontrolling Interest [Member]

Noncontrolling Interest [Member]

Noncontrolling Interest [Member]

Alaska Joint Venture Acquisition [Member]

Subscription Agreement [Member]

2,770 Property Contribution [Member]

Alaska Joint Venture Acquisition [Member]

2,770 Property Contribution [Member]

Subscription Agreement [Member]

Alaska Joint Venture Acquisition [Member]

2,770 Property Contribution [Member]

Alaska Joint Venture Acquisition [Member]

RJ LLC [Member]

2,770 Property Contribution [Member]

Beginning Balances at Dec. 31, 2012

$905,164,000

'

'

'

$387,000

'

'

'

'

$914,565,000

'

'

'

($10,278,000)

$904,674,000

'

'

$490,000

'

'

'

Beginning Balances, shares at Dec. 31, 2012

'

'

'

'

38,663,998

'

'

667

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuances of Class A common shares, net of offering costs of $85,984

1,548,280,000

'

'

'

1,021,000

'

'

'

'

1,547,259,000

'

'

'

'

1,548,280,000

'

'

'

'

'

'

Issuance of common stock, shares

'

'

'

'

102,141,544

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock other

'

'

'

35,254,000

'

'

4,000

'

6,000

'

'

-356,453,000

-4,000

'

'

'

-356,447,000

'

'

'

391,701,000

Issuance of common stock other, shares

'

'

'

'

'

'

434,783

'

634,408

'

'

'

'

'

'

'

'

'

'

'

'

Management Internalization

65,188,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

65,188,000

'

'

'

Joint Venture Acquisition

'

904,487,000

61,060,000

'

'

436,000

'

'

'

'

703,856,000

'

'

'

'

704,292,000

'

'

200,195,000

61,060,000

'

Joint venture Acquisition, shares

'

'

'

'

'

43,609,394

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based compensation

606,000

'

'

'

'

'

'

'

'

606,000

'

'

'

'

606,000

'

'

'

'

'

'

Share-based compensation, shares

'

'

'

'

6,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distributions to noncontrolling interests

-11,195,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-11,195,000

'

'

'

Formation of consolidated joint venture

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

Conversion of preferred units

-10,456,000

'

'

'

'

'

'

'

'

'

'

'

'

-10,456,000

-10,456,000

'

'

'

'

'

'

Net loss

-9,595,000

'

'

'

'

'

'

'

'

'

'

'

'

-18,952,000

-18,952,000

'

'

9,357,000

'

'

'

Ending Balances at Sep. 30, 2013

$3,489,293,000

'

'

'

$1,848,000

'

'

$6,000

'

$2,809,829,000

'

'

'

($39,686,000)

$2,771,997,000

'

'

$717,296,000

'

'

'

Ending Balances, shares at Sep. 30, 2013

'

'

'

'

184,856,219

'

'

635,075

'

'

'

'

'

'

'

'

'

'

'

'

'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Equity (Parenthetical) (2013 Offering [Member], USD $)	1 Months Ended	9 Months Ended
	Mar. 31, 2013	Sep. 30, 2013
2013 Offering [Member]	'	'
Net of offering costs	$44,003,000	$85,984,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Operating activities	'	'
Net loss	($9,595,000)	($4,405,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	37,827,000	592,000
Noncash amortization of deferred financing costs	186,000	'
Noncash share-based compensation	606,000	'
Gain on remeasurement of equity method investment	-10,945,000	'
Remeasurement of Series E units	438,000	'
Gain on disposition of discontinued operations	-904,000	'
Other changes in operating assets and liabilities:	'	'
Rent and other receivables	5,244,000	'
Resident security deposits	-21,282,000	'
Prepaid expenses and other assets	-2,793,000	'
Deferred leasing costs	-6,348,000	'
Accounts payable and accrued expenses	32,139,000	'
Amounts payable to affiliates	-20,251,000	'
Net cash provided by (used in) operating activities	4,322,000	-3,813,000
Investing activities	'	'
Cash paid for single-family properties	-1,712,119,000	'
Escrow deposits for purchase of single-family properties	-11,834,000	'
Cash acquired in non-cash business combinations	33,099,000	'
Net proceeds received from sale of discontinued operations	8,844,000	'
Distributions from unconsolidated joint venture	3,431,000	'
Improvements to single-family properties	-321,559,000	'
Net cash used in investing activities	-2,007,096,000	'
Financing activities	'	'
Implied contribution by Sponsor for historical operations	517,000	3,813,000
Net proceeds from issuance of Class A common shares	1,548,280,000	'
Proceeds from credit facility	1,044,000,000	'
Payments on credit facility	-806,000,000	'
Proceeds from bridge loan	115,000,000	'
Payments on bridge loan	-115,000,000	'
Extinguishment of RJ1 note payable	-7,600,000	'
Contributions from noncontrolling interests	500,000	'
Distributions to noncontrolling interests	-6,497,000	'
Deferred financing costs	-9,559,000	'
Net cash provided by financing activities	1,763,641,000	3,813,000
Net decrease in cash and cash equivalents	-239,133,000	'
Cash and cash equivalents, beginning of period	397,198,000	'
Cash and cash equivalents, end of period	158,065,000	'
Supplemental cash flow information	'	'
Cash payments for interest	4,011,000	'
Supplemental schedule of noncash investing and financing activities	'	'
Receivables related to property acquisitions	1,639,000	'
Accounts payable and accrued expenses related to property acquisitions	28,237,000	'
Accounts payable and accrued expenses related to deferred financing costs	2,533,000	'
Amounts payable to affiliates related to property acquisitions	-1,683,000	'
Accrued distribution to noncontrolling interests	4,698,000	'
Contribution of properties (see Note 9)	'	'
Single-family properties, including related assets and liabilities	32,229,000	264,867,000
Additional paid-in capital	-384,255,000	-264,867,000
Due from affiliates	-2,508,000	'
Issuance of units to noncontrolling interest	500,000	'
Acquisitions (see Note 10)	'	'
Single-family properties	966,571,000	'
Cash and cash equivalents	33,099,000	'
Other net assets and liabilities	-36,760,000	'
Deferred costs and other intangibles	133,195,000	'
Additional paid-in capital	-703,856,000	'
Issuance of units to noncontrolling interest	-500,000	'
Contingently convertible Series E units liability	-64,881,000	'
Noncontrolling interest in consolidated subsidiaries	-39,321,000	'
Management Internalization [Member]	'	'
Investing activities	'	'
Settlement of net monetary assets related to Management Internalization	-6,958,000	'
Class A Units [Member]	'	'
Contribution of properties (see Note 9)	'	'
Issuance of units to noncontrolling interest	221,934,000	'
Acquisitions (see Note 10)	'	'
Issuance of units to noncontrolling interest	-221,934,000	'
Series C Convertible Units [Member]	'	'
Contribution of properties (see Note 9)	'	'
Issuance of units to noncontrolling interest	391,701,000	'
Acquisitions (see Note 10)	'	'
Issuance of units to noncontrolling interest	-391,701,000	'
Class B Common Shares [Member]	'	'
Contribution of properties (see Note 9)	'	'
Issuance of Class B common shares	7,993,000	'
Class A Common Shares [Member]	'	'
Acquisitions (see Note 10)	'	'
Class A common shares	-436,000	'
Series D Convertible Units [Member]	'	'
Contribution of properties (see Note 9)	'	'
Issuance of units to noncontrolling interest	65,188,000	'
Acquisitions (see Note 10)	'	'
Issuance of units to noncontrolling interest	($65,188,000)	'

Organization_and_operations

Organization and operations	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Organization and operations	'
	Note 1. Organization and operations
	The Company is a Maryland REIT formed on October 19, 2012. We are focused on acquiring, renovating, leasing and operating single-family properties as rental properties. As of September 30, 2013, the Company held 21,267 single-family properties in 22 states. In November and December 2012, the Company raised approximately $530,413,000 before aggregate placement agent fees and offering costs of $40,928,000, including $5,307,000 related to the value of the option issued to the Sponsor, in an offering exempt from registration under the Securities Act of 1933 (the “2012 Offering”). In March 2013, the Company raised $747,500,000 before aggregate placement agent fees and offering costs of $44,003,000 in an offering exempt from registration under the Securities Act of 1933 (the “2013 Offering”). In August 2013, the Company raised $811,764,000 before aggregate underwriting discounts and offering costs of $41,981,000 in our initial public offering (the “IPO”). Concurrently with the IPO, the Company raised an additional $75,000,000 in private placements, which were made concurrently with the IPO offering price and without payment of any underwriting discount, to the Sponsor and APFC (collectively, the “2013 Concurrent Private Placements”).
	From our formation through June 10, 2013, we were externally managed and advised by American Homes 4 Rent Advisor, LLC (the “Advisor”) and the leasing, managing and advertising of our properties was overseen and directed by American Homes 4 Rent Management Holdings, LLC (the “Property Manager”), both of which were subsidiaries of the Sponsor. On June 10, 2013, we acquired the Advisor and the Property Manager from the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in our Operating Partnership (the “Management Internalization”). 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 10).
	Prior to the Management Internalization, the Sponsor exercised control over the Company through the contractual rights provided to the Advisor through an advisory management agreement. Accordingly, certain properties contributed by the Sponsor 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 our Sponsor (see Note 9). Accordingly, the accompanying condensed consolidated financial statements include the Sponsor’s historical results of operations and carrying values of the properties that had been acquired by the Sponsor. The Sponsor 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 accompanying condensed 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	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant accounting policies	'
	Note 2. Significant accounting policies
	Basis of presentation
	The accompanying condensed consolidated financial statements are unaudited and include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The accompanying condensed 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”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the condensed consolidated financial statements for the interim periods have been made. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	There have been no changes to our significant accounting policies that have had a material impact on our condensed consolidated financial statements and related notes and therefore notes to the condensed consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements have been omitted.
	Single-family properties
	Transactions in which single-family properties are purchased that are not subject to an existing lease are treated as asset acquisitions, and as such are recorded at their purchase price, including acquisition fees, 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 (see Note 10) are treated as a business combination under Accounting Standards Codification (“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 relative fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined based on ASC 820, Fair Value Measurements and Disclosures, 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 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 leases 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 typically short-term in nature (less than one year).
	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, written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:
		Amortizable Life
	Trademark		4.7 years
	Database		7 years
	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 10). Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis, or if certain events or circumstances occur, pursuant to ASC 350, Intangibles—Goodwill and Other. No impairments have been recorded as of September 30, 2013.
	Deferred financing costs
	Financing costs related to the origination of the Company’s credit facility are deferred and amortized on an effective interest method over the contractual term of the applicable financing.
	Recently issued and adopted accounting standards
	In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a “qualitative” assessment to determine whether further impairment testing is necessary. The revised standard allows an entity first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not (that is, a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If it is more likely than not that the asset is impaired, the entity must calculate the fair value of the asset, compare the fair value to its carrying amount, and record an impairment charge, if the carrying amount exceeds fair value. However, if an entity concludes that it is not more likely than not that the asset is impaired, no further action is required. The qualitative assessment is not an accounting policy election. An entity can choose to perform the qualitative assessment on none, some, or all of its indefinite-lived intangible assets. Moreover, an entity can bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test, and then choose to perform the qualitative assessment in any subsequent period. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance did not have a material impact on the Company’s financial position or results of operations.
	In July 2013, the FASB issued ASU No. 2013-10, which permits the Fed Funds Effective Swap Rate, also referred to as the “Overnight Index Swap Rate,” to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the U.S. government and London Interbank Offered Rate (“LIBOR”) swap rate. The update also removes the restriction on the use of different benchmark rates for similar hedges. This ASU will be applicable to us for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013.

Singlefamily_properties

Single-family properties	9 Months Ended
	Sep. 30, 2013
Real Estate [Abstract]	'
Single-family properties	'
	Note 3. Single-family properties
	Single-family properties, net, consists of the following as of September 30, 2013 and December 31, 2012 (dollars in thousands):
		September 30, 2013
		Number of		Net book value
		properties
	Leased single-family properties		14,384	$	2,426,434
	Single-family properties being renovated		4,147		615,568
	Vacant single-family properties available for lease		2,736		488,120
	Total		21,267	$	3,530,122
		December 31, 2012
		Number of		Net book value
		properties
	Leased single-family properties		1,164	$	158,068
	Single-family properties being renovated		1,857		261,136
	Vacant single-family properties available for lease		623		86,509
	Total		3,644	$	505,713
	Single-family properties at September 30, 2013 and December 31, 2012 include $95,447,000 and $131,819,000, respectively, related to properties for which the recorded deed of trust 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 approximately $20,841,000 and $490,000 for the three months ended September 30, 2013 and 2012, respectively, and $32,718,000 and $592,000 for the nine months ended September 30, 2013 and 2012, respectively. Included in single-family properties at September 30, 2013 and December 31, 2012 are certain single-family properties contributed by the Sponsor (see Note 9).

Deferred_costs_and_other_intan

Deferred costs and other intangibles	9 Months Ended
	Sep. 30, 2013
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]	'
Deferred costs and other intangibles	'
	Note 4. Deferred costs and other intangibles
	Deferred costs and other intangibles, net, consists of the following as of September 30, 2013 (in thousands):
		September 30, 2013
	Deferred leasing costs	$	9,164
	Deferred financing costs		12,092
	Intangible assets:
	Value of in-place leases		6,085
	Trademark		3,100
	Database		2,100
			32,541
	Less: accumulated amortization		(8,023	)
	Total	$	24,518
	Amortization expense related to deferred leasing costs, the value of in-place leases, trademark and database was approximately $3,202,000 and $5,109,000 for the three and nine months ended September 30, 2013, respectively, which has been included in depreciation and amortization. Amortization of deferred financing costs was $2,202,000 and $3,054,000 for the three and nine months ended September 30, 2013, respectively, which has been included in gross interest, prior to interest capitalization (see Note 5).
	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of September 30, 2013 for future periods (in thousands):
	Year	Deferred			Deferred		Value of		Trademark		Database
		Leasing Costs			Financing Costs		In-place
							Leases
	Remaining 2013	$	2,291		$	584	$	1,521	$	165	$	75
	2014		3,931			2,316		2,835		659		300
	2015		—			2,316		—		660		300
	2016		—			2,322		—		659		300
	2017		—			984		—		659		300
	Thereafter		—			516		—		93		732
	Total	$	6,222		$	9,038	$	4,356	$	2,895	$	2,007

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt	'
	Note 5. Debt
	Credit facility
	On March 7, 2013, we entered into a $500 million senior secured revolving credit facility with a financial institution. On June 6, 2013, we entered into a temporary increase to our credit facility that allowed us to borrow up to $1 billion through December 6, 2013. On August 6, 2013, the closing date of our IPO, the credit facility had an outstanding balance of $840 million, which we paid down by $716 million from proceeds of our IPO. Upon closing of our IPO and related paydown, maximum borrowings under the credit facility returned to $500 million. On September 30, 2013, we again amended our credit facility to expand our borrowing capacity to $800 million, add an additional lender and extend the repayment period to September 30, 2018.
	The amount that may be borrowed under the credit facility will generally be based on the lower of 50% of cost and the 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 credit facility is secured by our Operating Partnership’s membership interests in entities that own 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 $15,000,000, of which at least $7,500,000 must be in cash and cash equivalents; (ii) a maximum leverage ratio of 1.0 to 1.0; and (iii) tangible net worth (as defined) not less than 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 September 30, 2013. As of September 30, 2013, the Company was in compliance with all loan covenants under the credit facility.
	As of September 30, 2013, total outstanding borrowings under the credit facility were $238,000,000. The following table outlines our gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the three and nine months ended September 30, 2013 (in thousands):
		Three Months		Nine Months
		Ended		Ended
		September 30, 2013		September 30, 2013
	Gross interest cost	$	5,027	$	7,425
	Capitalized interest		5,027		7,055
	Interest expense	$	—	$	370

Accounts_payable_and_accrued_e

Accounts payable and accrued expenses	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accounts payable and accrued expenses	'
	Note 6. Accounts payable and accrued expenses
	The following table summarizes accounts payable and accrued expenses as of September 30, 2013 and December 31, 2012 (in thousands):
		September 30, 2013		December 31, 2012
	Accounts payable	$	6,064	$	259
	Accrued property taxes		30,163		4,760
	Other accrued liabilities		17,980		1,473
	Accrued construction liabilities		15,996		3,059
	Resident security deposits		21,434		1,731
	Total	$	91,637	$	11,282

Shareholders_equity

Shareholders' equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Shareholders' equity	'
	Note 7. Shareholders’ equity
	Class A common shares
	In connection with the Management Internalization (see Note 10), we entered into a registration rights agreement with the Sponsor providing for registration rights exercisable after December 10, 2015. After June 10, 2015, if we are eligible to file a shelf registration statement, the Sponsor 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 the Sponsor. The Sponsor 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 the Sponsor owns in other registration statements that we may initiate.
	In connection with the Alaska Joint Venture Acquisition (see Note 10), we entered into a registration rights agreement with APFC. Under the terms of such agreement, after we become eligible to file a shelf registration statement on Form S-3, APFC has a right to request that we file and maintain a shelf registration statement with the SEC to register 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 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.
	Class B common shares
	Our Sponsor 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 9). 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 our Sponsor allows the Sponsor 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.
	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 93.1% and 99.9% of the total 199,278,586 and 38,697,333 Class A units outstanding as of September 30, 2013 and December 31, 2012, 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 the Sponsor 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 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 September 30, 2013, the Sponsor owned all of the 31,085,974 outstanding Series C convertible units.
	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 September 30, 2013, the Sponsor owned all of the 4,375,000 outstanding Series D units (see Note 10).
	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 accompanying condensed consolidated balance sheets and are marked to market each period (see Note 14). As of September 30, 2013, the Sponsor owned all of the 4,375,000 outstanding Series E units (see Note 10).
	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 10), the Company issued 653,492 3.5% convertible perpetual preferred units (“Preferred Units”) to the Sponsor. 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 original issue and were payable quarterly. Preferred Units were entitled to a liquidation preference that ranked above all other equity interests in the Operating Partnership and were payable in cash or property at fair market value (as determined by the general partner) of $15.00 per Preferred Unit, plus any accrued and unpaid distributions upon any liquidation or dissolution. Beginning on June 30, 2013, the Sponsor had a one-time right to tender all of the Preferred Units for Class A units of the Operating Partnership on a one-for-one basis.
	In connection with the Sponsor’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 the Sponsor were converted into Class A units (see Note 10).
	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 2012, we granted stock options for 50,000 shares to trustees of the Company. These options vest over 4 years and expire 10 years from the date of grant. All of these options were outstanding as of September 30, 2013, and none were exercisable at that time. 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.
	During 2012, the Company also granted stock options for 650,000 Class A common shares to certain employees of our Sponsor and its subsidiaries. During the nine months ended September 30, 2013, 60,000 options were cancelled, no options were granted, and no options were exercised. None of these options were exercisable as of September 30, 2013. These options vest over 4 years and expire 10 years from the date of grant. Because these options were originally 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 the Sponsor 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.
	Total shared-based compensation expense related to stock options was $153,000 and $494,000 for the three and nine months ended September 30, 2013, respectively. Such expense is adjusted to consider estimated forfeitures. Estimated forfeitures are adjusted to reflect actual forfeitures at the end of the vesting period. Also included in noncash share-based compensation expense for the nine months ended September 30, 2013 was $112,000 associated with 6,500 Class A common shares issued to our trustees on April 4, 2013.
	Subscription agreement
	In 2012, we entered into a subscription agreement with the Sponsor under which the Sponsor 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 (the “Subscription Agreement”).
	On April 16, 2013, the Company entered into an agreement with the Sponsor 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 the Sponsor.
	Noncontrolling interest
	Noncontrolling interest as reflected in the Company’s condensed consolidated balance sheet primarily consists of the interest held by the Sponsor in units in the Company’s Operating Partnership. As of September 30, 2013 and December 31, 2012, the Sponsor owned approximately 6.9% and 0.1%, respectively, of the Class A units in the Operating Partnership. Additionally, the Sponsor owned all 31,085,974 Series C convertible units and all 4,375,000 Series D convertible units in the Operating Partnership as of September 30, 2013. The Sponsor also owned all 653,492 Preferred Units in the Operating Partnership as of December 31, 2012, which were converted into Class A units on June 14, 2013 (see Note 10). Also included in noncontrolling interest are outside ownership interests in certain consolidated subsidiaries of the Company.
	Noncontrolling interest as reflected in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2013 primarily consisted of $4,698,000 and $10,208,000, respectively, of preferred income allocated to Series C convertible units, zero and $157,000, respectively, of preferred income allocated to Preferred Units (prior to the date of conversion) and $670,000 and $780,000, respectively, of net loss allocated to Class A units. Also included in noncontrolling interest in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2013 was $230,000 and $228,000, respectively, of net loss allocated to noncontrolling interests in certain of the Company’s consolidated subsidiaries.

Related_party_transactions

Related party transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related party transactions	'
	Note 8. Related party transactions
	Equity ownership
	As of September 30, 2013 and December 31, 2012, our Sponsor owned approximately 3.7% and 8.5% of our outstanding Class A common shares, respectively. On a fully-diluted basis, the Sponsor held (including consideration of 635,075 and 667 Class B common shares as of September 30, 2013 and December 31, 2012, respectively, 13,787,292 and 32,668 Class A common units as of September 30, 2013 and December 31, 2012, respectively, 653,492 Preferred Units as of December 31, 2012, 31,085,974 Series C convertible units as of September 30, 2013, 4,375,000 Series D units as of September 30, 2013, 4,375,000 Series E units as of September 30, 2013 and common shares issuable upon exercise of the option pursuant to the subscription agreement as of December 31, 2012) (see Note 7), an approximate 25.6% and 17.2% interest at September 30, 2013 and December 31, 2012, respectively.
	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 $9,800,000 per year (see Note 9). Upon completion of the Management Internalization on June 10, 2013 (see Note 10), the Advisor became a wholly-owned subsidiary of our Operating Partnership and accordingly, there will be no future advisory management fees in our condensed consolidated statement of operations.
	For the nine months ended September 30, 2013, advisory management fees incurred to the Advisor prior to the Management Internalization were $6,352,000. As of December 31, 2012, accrued advisory management fees were $937,000, which have been included in amounts payable to affiliates in the accompanying condensed 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 10), 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 condensed consolidated statement of operations.
	For the nine months ended September 30, 2013, property management fees incurred to the Property Manager prior to the Management Internalization were $1,264,000, which have been included in property operating expenses in the accompanying condensed consolidated statement of operations. For the nine months ended September 30, 2013, leasing fees incurred to the Property Manager prior to the Management Internalization were $2,888,000, which have been included in deferred costs and other intangibles, net in the accompanying condensed consolidated balance sheets.
	Agreement on Investment Opportunities
	In November 2012, the Company entered into an “Agreement on Investment Opportunities” with the Sponsor under which we pay 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 10), we entered into an Amended and Restated Agreement on Investment Opportunities. Under the amended and restated agreement, on December 10, 2014, the Sponsor will cease providing acquisition and renovation services for us and we will cease paying the acquisition fee. No termination or other fee will be due on December 10, 2014 in connection with the termination of the Sponsor providing such services. On September 10, 2014, we will have the right to offer employment, that would commence on December 10, 2014, to all of the Sponsor’s acquisition and renovation personnel necessary for our operations. Additionally, the Sponsor is required to pay the Company a monthly fee of $100,000 through December 10, 2014 for maintenance and use of certain intellectual property transferred to us in the Management Internalization, which is included in other revenue in the accompanying condensed consolidated statements of operations (see Note 10).
	During the three and nine months ended September 30, 2013, we incurred $22,947,000 and $95,319,000 in aggregate acquisition and renovation fees to the Sponsor under the terms of this agreement, $22,666,000 and $92,718,000 of which has been capitalized related to asset acquisitions and included in the cost of the single-family properties, and $281,000 and $2,601,000 has been expensed related to property acquisitions with in-place leases, respectively. As of September 30, 2013 and December 31, 2012, accrued and unpaid acquisition and renovation fees were $1,120,000 and $2,811,000, respectively, which have been included in the amounts payable to affiliates in the accompanying condensed consolidated balance sheet.
	Employee Administration Agreement
	In connection with the Management Internalization on June 10, 2013 (see Note 10), we entered into an employee administration agreement with Malibu Management, Inc. (“MMI”), an affiliate of the Sponsor, to obtain the exclusive services of personnel of the Advisor and the Property Manager, who were previously employees of MMI under the direction of the Sponsor. Under 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 are able to direct MMI to implement employment decisions with respect to the employees dedicated to us. We are required to reimburse MMI for all compensation and benefits and costs associated with the employees dedicated to us. We do not pay any fee or any other form of compensation to MMI. Total compensation and benefit costs passed through to us under the agreement during the three and nine months ended September 30, 2013 were $7,173,000 and $8,397,000, respectively. As of September 30, 2013, accrued and unpaid reimbursable compensation and benefit costs due to MMI were $748,000, which have been included in the amounts payable to affiliates in the accompanying condensed consolidated balance sheet.
	Allocated General and Administrative Expenses
	The Company received an allocation of general and administrative expenses from the Sponsor that were either clearly applicable to or were reasonably allocated to the operations of the properties contributed by our Sponsor (see Note 9). Allocated general and administrative expenses from the Sponsor were zero and $2,276,000 for the three months ended September 30, 2013 and 2012, respectively, and $993,000 and $3,929,000 for the nine months ended September 30 2013, and 2012, respectively, and have been included in general and administrative expense in the accompanying condensed consolidated statements of operations.

Contributions_by_our_Sponsor

Contributions by our Sponsor	9 Months Ended
	Sep. 30, 2013
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Contributions by our Sponsor	'
	Note 9. Contributions by our Sponsor
	Contribution in connection with 2012 Offering
	In connection with the 2012 Offering, on December 31, 2012, our Sponsor made an investment in our Company by contributing 367 single-family properties and $556,000 in cash. The contributed single-family properties were valued at $49,444,000, which approximated the Sponsor’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 the Sponsor in connection with the contribution of the properties, including transfer costs, title insurance premiums and legal fees. In connection with this contribution, our Sponsor received 3,300,000 Class A common shares, 667 Class B common shares and 32,667 Class A units (see Note 7). 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 accompanying condensed consolidated financial statements based on the results of operations and net book value recorded by our Sponsor of $47,646,000 as of date of the contribution, without consideration of the acquisition fees. Costs to transfer title to the properties of $455,000 to us were expensed. The contribution agreement was entered into and effective December 31, 2012 and provides that the Sponsor 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 our Sponsor providing for the contribution of 2,770 single-family properties for total consideration of $491,666,000 (the “2,770 Property Contribution”). Our Sponsor had acquired 33 of these properties in 2011, 2,628 in 2012 and 109 in 2013. The consideration to our Sponsor 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 approximates fair value (see Note 7). Because the 2,770 Property Contribution has been deemed to be a transaction between entities under common control, 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 our 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 our Sponsor through the date of the 2,770 Property Contribution (in thousands, except number of properties):
		Period from			Period from			Total as of
		June 23, 2011 to			January 1, 2013 to			February 28, 2013
		December 31, 2012			February 28, 2013			(transaction 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 the Sponsor.
	Upon consummation of the transaction on February 28, 2013, the total $386,500,000 net asset value of the properties was reclassified from additional paid-in capital in connection with the issuance of $378,770,000 Series C units in our Operating Partnership and $7,730,000 Class B common shares (see Note 7). Additionally, the other net liabilities associated with the properties of $2,508,000 as of February 28, 2013 have been reclassified from additional paid-in capital to due from affiliates, as these amounts will be subsequently settled in cash by the Sponsor.
	Pursuant to the agreement, the Sponsor is 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 acquire them. The costs of such improvements for the period from March 1, 2013 to September 30, 2013 were $13,194,000. This amount has been reflected as an addition to the net asset value of the contributed properties, with a corresponding increase of $12,930,000 and $264,000 to the Series C 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 $356,453,000 reflected in the accompanying condensed consolidated statement of equity for the nine months ended September 30, 2013 consists of the $386,500,000 reclassification of the net asset value of the 2,770 properties, offset by (i) the $19,552,000 credit associated with the 109 properties acquired by our Sponsor from January 1, 2013 to February 28, 2013, (ii) $7,987,000 in excess of $6,000 par value associated with issuance of the 634,408 Class B common shares and (iii) the $2,508,000 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 $9,800,000 per year (see Note 8).

Acquisitions_and_Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]	'
Acquisitions and Dispositions	'
	Note 10. Acquisitions and Dispositions
	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 the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in our Operating Partnership. Under the terms of the respective contribution agreement, 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 the Sponsor to: (i) preclude the Sponsor 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 the Sponsor’s rendering of acquisition and renovation services to the Company and eliminate the related 5% fee paid to the Sponsor 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 the Sponsor’s acquisition and renovation personnel necessary for our operations; and (v) require the Sponsor to pay us a monthly fee of $100,000 through December 10, 2014 for maintenance and use of certain intellectual property transferred to us in the Management Internalization (see Note 8).
		•		Entered into a registration rights agreement with the Sponsor providing for registration rights exercisable after December 10, 2015 (see Note 7).
		•		Cancelled insurance policies previously provided by a captive insurance company affiliated with the Sponsor (see Note 8).
	The fair value of the Series D units and Series E units has been estimated to be $65,188,000 and $64,881,000, 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 7).
	The following table summarizes the 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 $120,655,000 arising from the acquisition consists largely of the synergies, economies of scale and cost savings expected 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 the Sponsor subsequent to the date of the transaction. Accordingly, net monetary assets of $6,958,000, including estimated cash and cash equivalents of $8,982,000, were recorded as of the date of the Management Internalization and subsequently settled in cash between the Company and the Sponsor during the three months ended September 30, 2013.
	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 accompanying condensed 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 APFC and the Sponsor for a purchase price of $904,487,000 (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 the Sponsor (see Note 7). 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 $1,896,000, which have been included in 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 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
	Building 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 are to be used to fund all remaining initial repair and renovation costs of the 4,778 single-family properties, with any potential shortfalls to be paid for by the Sponsor. At December 31, 2013, any remaining net monetary assets will be distributed to APFC and the Sponsor. Accordingly, estimated net monetary assets of the Alaska Joint Venture of $12,995,000, including estimated cash and cash equivalents of $22,989,000, were recorded as of the date of the Alaska Joint Venture Acquisition in the accompanying condensed consolidated balance sheet, with an offsetting liability reflected in amounts payable to affiliates.
	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 accompanying condensed consolidated financial statements.
	RJ Joint Ventures Acquisition
	On August 10, 2012, the Sponsor 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 the Sponsor, 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 the Sponsor in exchange for 653,492 Preferred Units (see Note 7), 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 the Sponsor’s carryover basis of zero. As a result, the Preferred Units issued to the Sponsor 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 the Sponsor, 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, the Sponsor contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by the Sponsor were converted into 653,492 Class A units (the “Preferred Unit Conversion”) and the Company issued 705,167 additional Class A units to the Sponsor (collectively, the “2013 RJ Transaction”). The fair value of the 705,167 Class A units issued has been estimated to be $11,283,000, 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 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 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 accompanying condensed 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 $10,456,000 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 accompanying condensed 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 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.
	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 accompanying condensed 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 is included in our condensed consolidated statement of operations from the respective transaction dates through September 30, 2013 (in thousands):
			Management			Alaska Joint			2013 RJ
			Internalization			Venture Acquisition			Transaction
			Period from			Period from			Period from
			June 10, 2013 to			June 11, 2013 to			June 14, 2013 to
			September 30, 2013			September 30, 2013			September 30, 2013
	Total revenues		$	959		$	19,624		$	640
	Net (loss) / income		$	(13,818	)	$	54		$	(111	)
	The following table presents the Company’s supplemental consolidated pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 (in thousands):
			Three months ended September 30,						Nine months ended September 30,
			2013			2012			2013			2012
	Pro forma total revenues (1)		$	49,463		$	2,809		$	95,595		$	5,302
	Pro forma net loss (1)		$	(3,861	)	$	(3,018	)	$	(16,111	)	$	(8,189	)
	-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 Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2012.
	Due to the inherent complexity of the accompanying condensed consolidated financial statements as a result of the transactions completed between entities under common control (see Note 9), 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 Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 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 $8,900,000, before commissions and closing costs, resulting in a gain on sale of $904,000, which has been reflected as gain on disposition of assets in the accompanying condensed consolidated statements of operations. The results of operations from these sold properties prior to the date of sale, along with the related gain on disposition, have been reflected as discontinued operations in the accompanying condensed consolidated statements of operations.

Net_loss_per_share

Net loss per share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Net loss per share	'
	Note 11. Net loss per share
	The following table reflects the computation of net loss per share on a basic and diluted basis for the three and nine months ended September 30, 2013 and 2012 (in thousands, except share information):
		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Income / loss (numerator):
	Loss from continuing operations	$	(3,861	)	$	(2,675	)	$	(10,603	)	$	(4,405	)
	Income from discontinued operations		—			—			1,008			—
	Noncontrolling interest		3,798			—			9,357			—
	Conversion of preferred units		—			—			10,456			—
	Net loss attributable to common shareholders	$	(7,659	)	$	(2,675	)	$	(29,408	)	$	(4,405	)
	Weighted-average shares (denominator):
	Class A common shares issued in formation transactions		3,301,000			3,301,000			3,301,000			3,301,000
	Class B common shares issued in formation transactions		667			667			667			667
	Class A common shares issued in 2012 Offering		35,362,998			—			35,362,998			—
	Class A common shares issued in 2013 Offering		46,718,750			—			34,397,321			—
	Class B common shares issued in connection with 2,770 Property Contribution		634,408			—			499,625			—
	Class A common shares issued to members of board of trustees		6,500			—			4,286			—
	Class A common shares issued in settlement of subscription agreement		434,783			—			267,559			—
	Class A common shares issued in connection with Alaska Joint Venture Acquisition		43,609,394			—			17,891,033			—
	Class A common shares issued in connection with IPO		26,854,220			—			9,049,774			—
	Class A common shares issued in connection with 2013 Concurrent Private Placements		2,853,261			—			961,538			—
	Class A common shares issued in connection with IPO over-allotment exercise		2,949,169			—			993,860			—
	Total weighted-average shares		162,725,150			3,301,667			102,729,661			3,301,667
	Net loss per share- basic and diluted:
	Loss from continuing operations	$	(0.05	)	$	(0.81	)	$	(0.30	)	$	(1.33	)
	Income from discontinued operations		—			—			0.01			—
	Net loss per share- basic and diluted	$	(0.05	)	$	(0.81	)	$	(0.29	)	$	(1.33	)
	The Company accounted for the issuance of 3,301,000 Class A common shares and 667 Class B common shares associated with the initial contribution by the Sponsor in December 2012, as a formation transaction and has reflected these shares outstanding as of the earliest period presented.
	Total weighted average shares for the three and nine months ended September 30, 2013 shown above excludes an aggregate of 54,263,266 of shares or units in our Operating Partnership (see Note 7), the subscription agreement (see Note 7), and stock options (see Note 7) because they were antidilutive and not related to the formation of the Company.
	Due to the inherent complexity of the accompanying condensed consolidated financial statements as a result of the transactions completed between entities under common control (see Note 9), management does not consider the historical net loss per share computations to be meaningful.

Commitments_and_contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and contingencies	'
	Note 12. Commitments and contingencies
	In connection with the renovation of single-family properties after they are purchased, the Company enters into contracts for the necessary improvements. As of September 30, 2013 and December 31, 2012, the Company had aggregate outstanding commitments of $4,612,000 and $1,694,000, respectively, in connection with these contracts.
	As of September 30, 2013 and December 31, 2012, we had commitments to acquire 416 and 462 single-family properties, respectively, with an aggregate purchase price of $57,573,000 and $70,082,000, respectively.
	We are involved in various legal proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position

Noncash_transactions

Noncash transactions	9 Months Ended
	Sep. 30, 2013
Nonmonetary Transactions [Abstract]	'
Noncash transactions	'
	Note 13. Noncash transactions
	On February 28, 2013, our Sponsor contributed 2,770 single-family properties to the Company with a net carrying cost of $386,500,000 in exchange for 31,085,974 Series C convertible units in our Operating partnership and 634,408 Class B common shares (see Note 9).
	On June 10, 2013, we acquired the Advisor and Property Manager from the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in the Operating Partnership (see Note 10).
	On June 11, 2013, we acquired the Alaska Joint Venture from APFC and the Sponsor 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 10).
	On June 14, 2013, the Sponsor contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by the Sponsor were converted into 653,492 Class A units and the Company issued 705,167 additional Class A units to the Sponsor (see Note 10).

Fair_Value

Fair Value	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value	'
	Note 14. Fair Value
	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 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 rents and other receivables, restricted cash for resident security deposits, escrow deposits, prepaid expenses and other assets, accounts payable and accrued expenses and amounts payable to affiliates approximate fair value because of the short maturity of these amounts.
	As the Company’s credit facility bears variable interest at 30 day LIBOR plus 2.75% and was recently entered into on March 7, 2013 and further amended on September 30, 2013 (see Note 5), management believes the carrying value of the credit facility as of September 30, 2013 reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).
	The Company’s contingently convertible series E units liability (see Note 10) is the only financial instrument recorded at fair value on a recurring basis within our consolidated financial statements and is valued using a Monte Carlo Simulation model. A Monte Carlo simulation is incorporated given that the value of the securities is 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 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. The following table sets forth the fair value of the contingently convertible series E units liability as of September 30, 2013 (in thousands):
					September 30, 2013
	Description		Total		Quoted Prices in		Significant		Significant
					Active Markets		Other		Unobservable
					for Identical		Observable		Inputs
					Assets		Inputs		(Level 3)
					(Level 1)		(Level 2)
	Contingently convertible Series E units liability		$	65,319	$	—	$	—	$	65,319
	The following table presents changes in the fair value of the contingently convertible series E units liability, which is measured on a recurring basis, with changes in fair value recognized in remeasurement of Series E units in the accompanying condensed consolidated statements of operations, for the three months ended September 30, 2013 (in thousands):
	Description		June 30, 2013		Remeasurement of		September 30, 2013
					Series E units
					included in
					earnings
	Contingently convertible Series E units liability		$	64,881	$	438	$	65,319
	There were no changes in fair value of the contingently convertible Series E units liability between June 10, 2013 (date of issuance) and June 30, 2013. Changes in inputs or assumptions used in the Monte Carlo simulation used to value the contingently convertible Series E units liability may have a material impact on the resulting valuation.

Subsequent_events

Subsequent events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent events	'
	Note 15. Subsequent events
	Subsequent acquisitions
	From October 1, 2013 through October 31, 2013 we acquired approximately 600 properties with an aggregate purchase price of approximately $79,260,000. We have reduced our pace of acquisitions in an effort to match our capital investments with our capital raising activities. 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.
	5% Series A Participating Preferred Shares
	On October 25, 2013, the Company raised $110,000,000 before aggregate underwriting discounts and estimated offering costs of $6,204,000 through the sale of 4,400,000 Series A Participating Preferred Shares (the “Preferred Offering”). Additionally, on November 8, 2013, the underwriters exercised their full over-allotment option to purchase an additional 660,000 Series A Participating Preferred Shares, resulting in an additional $16,500,000 of gross proceeds to the Company before aggregate underwriting discounts and estimated offering costs of $825,000.
	Borrowings on Credit Facility
	From October 1, 2013 through October 31, 2013, the Company borrowed an additional $122,000,000 under the credit facility and made payments on the credit facility totaling $140,000,000, including a $95,000,000 payment using proceeds from the Preferred Offering. On October 31, 2013, the loan had an outstanding balance of $220,000,000 (see Note 5).
	Declaration of Distributions
	On November 7, 2013, our board of trustees declared our initial quarterly distribution of $0.05 per Class A common share payable on January 10, 2014 to shareholders of record on December 15, 2013. Additionally, our board of trustees also declared the initial pro-rated quarterly dividend of $0.229167 per share on the Company’s Series A Participating Preferred Shares payable on December 31, 2013 to shareholders of record on December 15, 2013.

Significant_accounting_policie1

Significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of presentation	'
	Basis of presentation
	The accompanying condensed consolidated financial statements are unaudited and include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The accompanying condensed 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”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the condensed consolidated financial statements for the interim periods have been made. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	There have been no changes to our significant accounting policies that have had a material impact on our condensed consolidated financial statements and related notes and therefore notes to the condensed consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements have been omitted.
Single-family properties	'
	Single-family properties
	Transactions in which single-family properties are purchased that are not subject to an existing lease are treated as asset acquisitions, and as such are recorded at their purchase price, including acquisition fees, 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 (see Note 10) are treated as a business combination under Accounting Standards Codification (“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 relative fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined based on ASC 820, Fair Value Measurements and Disclosures, 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 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 leases 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 typically short-term in nature (less than one year).
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, written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:
		Amortizable Life
	Trademark		4.7 years
	Database		7 years
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 10). Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis, or if certain events or circumstances occur, pursuant to ASC 350, Intangibles—Goodwill and Other. No impairments have been recorded as of September 30, 2013.
Deferred financing costs	'
	Deferred financing costs
	Financing costs related to the origination of the Company’s credit facility are deferred and amortized on an effective interest method over the contractual term of the applicable financing.
Recently issued and adopted accounting standards	'
	Recently issued and adopted accounting standards
	In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a “qualitative” assessment to determine whether further impairment testing is necessary. The revised standard allows an entity first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not (that is, a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If it is more likely than not that the asset is impaired, the entity must calculate the fair value of the asset, compare the fair value to its carrying amount, and record an impairment charge, if the carrying amount exceeds fair value. However, if an entity concludes that it is not more likely than not that the asset is impaired, no further action is required. The qualitative assessment is not an accounting policy election. An entity can choose to perform the qualitative assessment on none, some, or all of its indefinite-lived intangible assets. Moreover, an entity can bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test, and then choose to perform the qualitative assessment in any subsequent period. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance did not have a material impact on the Company’s financial position or results of operations.
	In July 2013, the FASB issued ASU No. 2013-10, which permits the Fed Funds Effective Swap Rate, also referred to as the “Overnight Index Swap Rate,” to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the U.S. government and London Interbank Offered Rate (“LIBOR”) swap rate. The update also removes the restriction on the use of different benchmark rates for similar hedges. This ASU will be applicable to us for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013.

Significant_accounting_policie2

Significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Amortization of Intangible Assets Estimated Economic Lives	'
	The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:
		Amortizable Life
	Trademark		4.7 years
	Database		7 years

Singlefamily_properties_Tables

Single-family properties (Tables)	9 Months Ended
	Sep. 30, 2013
Real Estate [Abstract]	'
Schedule of Single-Family Properties	'
	Single-family properties, net, consists of the following as of September 30, 2013 and December 31, 2012 (dollars in thousands):
		September 30, 2013
		Number of		Net book value
		properties
	Leased single-family properties		14,384	$	2,426,434
	Single-family properties being renovated		4,147		615,568
	Vacant single-family properties available for lease		2,736		488,120
	Total		21,267	$	3,530,122
		December 31, 2012
		Number of		Net book value
		properties
	Leased single-family properties		1,164	$	158,068
	Single-family properties being renovated		1,857		261,136
	Vacant single-family properties available for lease		623		86,509
	Total		3,644	$	505,713

Deferred_costs_and_other_intan1

Deferred costs and other intangibles (Tables)	9 Months Ended
	Sep. 30, 2013
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]	'
Deferred Costs and Other Intangibles	'
	Deferred costs and other intangibles, net, consists of the following as of September 30, 2013 (in thousands):
		September 30, 2013
	Deferred leasing costs	$	9,164
	Deferred financing costs		12,092
	Intangible assets:
	Value of in-place leases		6,085
	Trademark		3,100
	Database		2,100
			32,541
	Less: accumulated amortization		(8,023	)
	Total	$	24,518
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 September 30, 2013 for future periods (in thousands):
	Year	Deferred			Deferred		Value of		Trademark		Database
		Leasing Costs			Financing Costs		In-place
							Leases
	Remaining 2013	$	2,291		$	584	$	1,521	$	165	$	75
	2014		3,931			2,316		2,835		659		300
	2015		—			2,316		—		660		300
	2016		—			2,322		—		659		300
	2017		—			984		—		659		300
	Thereafter		—			516		—		93		732
	Total	$	6,222		$	9,038	$	4,356	$	2,895	$	2,007

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Amortization of Deferred Financing Costs and Capitalized Interest	'
	The following table outlines our gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the three and nine months ended September 30, 2013 (in thousands):
		Three Months		Nine Months
		Ended		Ended
		September 30, 2013		September 30, 2013
	Gross interest cost	$	5,027	$	7,425
	Capitalized interest		5,027		7,055
	Interest expense	$	—	$	370

Accounts_payable_and_accrued_e1

Accounts payable and accrued expenses (Tables)	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Schedule of Accounts Payable and Accrued Expenses	'
	The following table summarizes accounts payable and accrued expenses as of September 30, 2013 and December 31, 2012 (in thousands):
		September 30, 2013		December 31, 2012
	Accounts payable	$	6,064	$	259
	Accrued property taxes		30,163		4,760
	Other accrued liabilities		17,980		1,473
	Accrued construction liabilities		15,996		3,059
	Resident security deposits		21,434		1,731
	Total	$	91,637	$	11,282

Contributions_by_our_Sponsor_T

Contributions by our Sponsor (Tables) (Sponsor [Member])	9 Months Ended
	Sep. 30, 2013
Sponsor [Member]	'
Schedule of Acquisition	'
	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 our Sponsor through the date of the 2,770 Property Contribution (in thousands, except number of properties):
		Period from			Period from			Total as of
		June 23, 2011 to			January 1, 2013 to			February 28, 2013
		December 31, 2012			February 28, 2013			(transaction 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)	9 Months Ended
	Sep. 30, 2013
Schedule of Carrying Value and Fair value of Company's Class B Interest in RJ LLC	'
	The following table summarizes the carrying value and 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 accompanying condensed 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
Revenues and Net income Attributable to Management Internalization, Alaska Joint Venture Acquisition, and RJ Transaction	'
	The following table presents the total revenues and net income attributable to the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction that is included in our condensed consolidated statement of operations from the respective transaction dates through September 30, 2013 (in thousands):
			Management			Alaska Joint			2013 RJ
			Internalization			Venture Acquisition			Transaction
			Period from			Period from			Period from
			June 10, 2013 to			June 11, 2013 to			June 14, 2013 to
			September 30, 2013			September 30, 2013			September 30, 2013
	Total revenues		$	959		$	19,624		$	640
	Net (loss) / income		$	(13,818	)	$	54		$	(111	)
Schedule of Company's Supplemental Consolidated Pro Forma Total Revenues and Net Income	'
	The following table presents the Company’s supplemental consolidated pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 (in thousands):
			Three months ended September 30,						Nine months ended September 30,
			2013			2012			2013			2012
	Pro forma total revenues (1)		$	49,463		$	2,809		$	95,595		$	5,302
	Pro forma net loss (1)		$	(3,861	)	$	(3,018	)	$	(16,111	)	$	(8,189	)
	-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 Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2012.
Management Internalization [Member]	'
Schedule of Fair Values of Assets Acquired	'
	The following table summarizes the 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
Alaska Joint Venture Acquisition [Member]	'
Schedule of Fair Values of Assets Acquired	'
	The following table summarizes the 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
	Building 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 LLC [Member]	'
Schedule of Fair Values of Assets Acquired	'
	The following table summarizes the 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

Net_loss_per_share_Tables

Net loss per share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
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 three and nine months ended September 30, 2013 and 2012 (in thousands, except share information):
		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Income / loss (numerator):
	Loss from continuing operations	$	(3,861	)	$	(2,675	)	$	(10,603	)	$	(4,405	)
	Income from discontinued operations		—			—			1,008			—
	Noncontrolling interest		3,798			—			9,357			—
	Conversion of preferred units		—			—			10,456			—
	Net loss attributable to common shareholders	$	(7,659	)	$	(2,675	)	$	(29,408	)	$	(4,405	)
	Weighted-average shares (denominator):
	Class A common shares issued in formation transactions		3,301,000			3,301,000			3,301,000			3,301,000
	Class B common shares issued in formation transactions		667			667			667			667
	Class A common shares issued in 2012 Offering		35,362,998			—			35,362,998			—
	Class A common shares issued in 2013 Offering		46,718,750			—			34,397,321			—
	Class B common shares issued in connection with 2,770 Property Contribution		634,408			—			499,625			—
	Class A common shares issued to members of board of trustees		6,500			—			4,286			—
	Class A common shares issued in settlement of subscription agreement		434,783			—			267,559			—
	Class A common shares issued in connection with Alaska Joint Venture Acquisition		43,609,394			—			17,891,033			—
	Class A common shares issued in connection with IPO		26,854,220			—			9,049,774			—
	Class A common shares issued in connection with 2013 Concurrent Private Placements		2,853,261			—			961,538			—
	Class A common shares issued in connection with IPO over-allotment exercise		2,949,169			—			993,860			—
	Total weighted-average shares		162,725,150			3,301,667			102,729,661			3,301,667
	Net loss per share- basic and diluted:
	Loss from continuing operations	$	(0.05	)	$	(0.81	)	$	(0.30	)	$	(1.33	)
	Income from discontinued operations		—			—			0.01			—
	Net loss per share- basic and diluted	$	(0.05	)	$	(0.81	)	$	(0.29	)	$	(1.33	)

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value of Contingently Convertible Series E Units Liability	'
	The following table sets forth the fair value of the contingently convertible series E units liability as of September 30, 2013 (in thousands):
				30-Sep-13
	Description	Total		Quoted Prices in		Significant		Significant
				Active Markets		Other		Unobservable
				for Identical		Observable		Inputs
				Assets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Contingently convertible Series E units liability	$	65,319	$	—	$	—	$	65,319
Contingently Convertible Series E Units Liability [Member]	'
Fair Value of Contingently Convertible Series E Units Liability	'
	The following table presents changes in the fair value of the contingently convertible series E units liability, which is measured on a recurring basis, with changes in fair value recognized in remeasurement of Series E units in the accompanying condensed consolidated statements of operations, for the three months ended September 30, 2013 (in thousands):
	Description	30-Jun-13		Remeasurement of		30-Sep-13
				Series E units
				included in
				earnings
	Contingently convertible Series E units liability	$	64,881	$	438	$	65,319

Organization_and_operations_Ad

Organization and operations - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2012	Mar. 31, 2013	Sep. 30, 2013	Aug. 31, 2013	Aug. 31, 2013	Jun. 10, 2013	Jun. 10, 2013	Dec. 31, 2012
	Property	Property	2012 Offering [Member]	2013 Offering [Member]	2013 Offering [Member]	IPO [Member]	2013 Concurrent Private Placements [Member]	Operating Partnership [Member]	Operating Partnership [Member]	Sponsor [Member]
	State		Property					Series D Convertible Units [Member]	Series E Convertible Units [Member]	2012 Offering [Member]
Schedule Of Description Of Business [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of properties	21,267	3,644	367	'	'	'	'	'	'	'
Number of states	22	'	'	'	'	'	'	'	'	'
Proceeds from offering before fees	'	'	$530,413,000	$747,500,000	'	$811,764,000	$75,000,000	'	'	$5,307,000
Fees associated with the sale of stock	'	'	40,928,000	44,003,000	85,984,000	'	'	'	'	'
Underwriting discounts and offering costs	'	'	'	'	'	$41,981,000	'	'	'	'
Issuance of units	'	'	'	'	'	'	'	4,375,000	4,375,000	'

Significant_accounting_policie3

Significant accounting policies - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Acquired leases term	'Less than one year

Significant_accounting_policie4

Significant accounting policies - Amortization of Intangible Assets Estimated Economic Lives (Detail)	9 Months Ended
	Sep. 30, 2013
Trademark [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Amortizable Life	'4 years 8 months 12 days
Database [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Amortizable Life	'7 years

Singlefamily_properties_Schedu

Single-family properties - Schedule of Single-Family Properties (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
	Property	Property
Property Subject to or Available for Operating Lease [Line Items]	'	'
Number of properties	21,267	3,644
Net book value	$3,530,122,000	$505,713,000
Single-Family Properties Being Renovated [Member]	'	'
Property Subject to or Available for Operating Lease [Line Items]	'	'
Number of properties	4,147	1,857
Net book value	615,568,000	261,136,000
Leased Single-Family Properties [Member]	'	'
Property Subject to or Available for Operating Lease [Line Items]	'	'
Number of properties	14,384	1,164
Net book value	2,426,434,000	158,068,000
Vacant Single-Family Properties Available for Lease [Member]	'	'
Property Subject to or Available for Operating Lease [Line Items]	'	'
Number of properties	2,736	623
Net book value	$488,120,000	$86,509,000

Singlefamily_properties_Additi

Single-family properties - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
			Single-Family Properties [Member]	Single-Family Properties [Member]	Single-Family Properties [Member]	Single-Family Properties [Member]	Recorded Deed of Trust Not Received [Member]	Recorded Deed of Trust Not Received [Member]
Property Subject to or Available for Operating Lease [Line Items]	'	'	'	'	'	'	'	'
Net book value	$3,530,122,000	$505,713,000	'	'	'	'	$95,447,000	$131,819,000
Depreciation expense	'	'	$20,841,000	$490,000	$32,718,000	$592,000	'	'

Deferred_costs_and_other_intan2

Deferred costs and other intangibles - Deferred costs and other intangibles (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Acquired Indefinite-lived Intangible Assets [Line Items]	'
Deferred leasing costs	$9,164
Deferred financing costs	12,092
Intangible assets:	'
Intangible assets	32,541
Less: accumulated amortization	-8,023
Total	24,518
Value of In-place Leases [Member]	'
Intangible assets:	'
Intangible assets	6,085
Total	4,356
Trademark [Member]	'
Intangible assets:	'
Intangible assets	3,100
Total	2,895
Database [Member]	'
Intangible assets:	'
Intangible assets	2,100
Total	$2,007

Deferred_costs_and_other_intan3

Deferred costs and other intangibles - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'	'
Amortization expense	$3,202,000	$5,109,000
Amortization of deferred financing costs	$2,202,000	$3,054,000

Deferred_costs_and_other_intan4

Deferred costs and other intangibles - Amortization Expense Related to Deferred Costs and Other Intangibles (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'
Total	$24,518
Value of In-place Leases [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Remaining 2013	1,521
2014	2,835
Total	4,356
Trademark [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Remaining 2013	165
2014	659
2015	660
2016	659
2017	659
Thereafter	93
Total	2,895
Database [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Remaining 2013	75
2014	300
2015	300
2016	300
2017	300
Thereafter	732
Total	2,007
Deferred Leasing Costs [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Remaining 2013	2,291
2014	3,931
Total	6,222
Deferred Financing Costs [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Remaining 2013	584
2014	2,316
2015	2,316
2016	2,322
2017	984
Thereafter	516
Total	$9,038

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Aug. 06, 2013	Sep. 30, 2013	Mar. 07, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Jun. 06, 2013	Sep. 30, 2013
			Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]	Senior Secured Revolving Credit Facility [Member]
						Until March 2017 [Member]	March 2017 and Thereafter [Member]	Maximum [Member]	Temporary increase credit facility [Member]	Extend repayment period [Member]
Proforma Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'
Credit facility amount	'	'	'	'	$500,000,000	'	'	'	'	'
Credit facility amount, maximum	500,000,000	'	'	800,000,000	'	'	'	'	1,000,000,000	'
Borrowings outstanding	'	'	840,000,000	238,000,000	'	'	'	'	'	'
Proceeds from initial public offering	'	'	716,000,000	'	'	'	'	'	'	'
Expiration of credit facility period	'	'	'	7-Mar-15	'	'	'	'	'	30-Sep-18
Percentage of amount borrowed based on credit facility	'	'	'	50.00%	'	'	'	'	'	'
Debt instrument, description of variable rate	'	'	'	'	'	'30 day LIBOR	'30 day LIBOR	'	'	'
Debt instrument, basis spread on variable rate	'	'	'	'	'	2.75%	3.13%	'	'	'
Debt instrument interest rate description	'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%.	'	'	'	'	'	'	'	'	'
Cash and cash equivalents and borrowing capacity	'	'	'	15,000,000	'	'	'	'	'	'
Cash and cash equivalents	$158,065,000	$397,198,000	'	$7,500,000	'	'	'	'	'	'
Tangible net worth, minimum percentage	'	'	'	85.00%	'	'	'	'	'	'
Maximum leverage ratio	'	'	'	'	'	'	'	1	'	'
Percentage of proceeds from additional equity capital	'	'	'	85.00%	'	'	'	'	'	'

Debt_Amortization_of_Deferred_

Debt - Amortization of Deferred Financing Costs and Capitalized Interest (Detail) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Debt Disclosure [Abstract]	'	'
Gross interest cost	$5,027	$7,425
Capitalized interest	5,027	7,055
Interest expense	'	$370

Accounts_payable_and_accrued_e2

Accounts payable and accrued expenses - Schedule of Accounts Payable and Accrued Expenses (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Payables And Accruals [Abstract]	'	'
Accounts payable	$6,064	$259
Accrued property taxes	30,163	4,760
Other accrued liabilities	17,980	1,473
Accrued construction liabilities	15,996	3,059
Resident security deposits	21,434	1,731
Total	$91,637	$11,282

Shareholders_equity_Additional

Shareholders' equity - Additional Information (Detail)	Sep. 30, 2013	Sep. 30, 2013	Aug. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
	2013 Offering [Member]	2012 Offering [Member]	Class A Common Shares [Member]	Class A Common Shares [Member]	Class A Common Shares [Member]	Class B Common Shares [Member]	Class B Common Shares [Member]	Class A Units [Member]	Class A Units [Member]	Class A Units [Member]	Class A Units [Member]
				Sponsor [Member]	Sponsor [Member]	Vote	Sponsor [Member]	Sponsor [Member]	Sponsor [Member]	Operating Partnership [Member]	Operating Partnership [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Common shares sold in connection with the IPO	'	'	55,422,794	'	'	'	'	'	'	'	'
Common stock issued in connection with investment	'	'	'	'	'	'	635,075	'	'	'	'
Common shares entitled to vote	'	'	'	'	'	50	'	'	'	'	'
Voting interest	30.00%	30.00%	'	'	'	'	'	'	'	'	'
Percentage of units outstanding	'	'	'	3.70%	8.50%	'	'	'	'	93.10%	99.90%
Units outstanding	'	'	'	'	'	'	'	13,787,292	32,668	199,278,586	38,697,333
Stock split conversion ratio	'	'	'	'	'	'	'	'	'	1	'

Shareholders_equity_Additional1

Shareholders' equity - Additional Information 1 (Detail) (Operating Partnership [Member], USD $)	9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2013
Series D Convertible Units [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
Units outstanding	4,375,000
Stock split conversion ratio	1
Closing price per share	$18
Series D Convertible Units [Member] | Scenario one, over four consecutive quarters [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
Adjusted funds from operations per common share	$0.80
Series D Convertible Units [Member] | Scenario two, two consecutive quarters [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
Units distribution percentage	70.00%
Series E Convertible Units [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
Units outstanding	4,375,000
Stock split conversion ratio	1
Annualized EBITDA Contribution	$14
Series E Convertible Units [Member] | Scenario three, measurement period [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
EBITDA contribution	$28
Series C Convertible Units [Member]	'
Changes In Equity And Comprehensive Income Line Items [Line Items]	'
Percentage of Property Contribution	3.90%
Percentage of scheduled rents	98.00%
Property Contributions price per unit	$15.50
Units outstanding	31,085,974

Shareholders_equity_Additional2

Shareholders' equity - Additional Information 2 (Detail) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2013

Jun. 14, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Jun. 14, 2013

Jun. 14, 2013

Dec. 31, 2012

Apr. 04, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Jun. 14, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 30, 2013

Apr. 30, 2013

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

Consolidated Subsidiaries [Member]

Consolidated Subsidiaries [Member]

3.5% Convertible Perpetual Preferred Units [Member]

3.5% Convertible Perpetual Preferred Units [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Units [Member]

Class A Units [Member]

Class A Units [Member]

Class A Units [Member]

Class A Units [Member]

Series C Convertible Units [Member]

Series C Convertible Units [Member]

Series C Convertible Units [Member]

Series D Convertible Units [Member]

Preferred Units [Member]

Preferred Units [Member]

Maximum [Member]

Minimum [Member]

Operating Partnership [Member]

Operating Partnership [Member]

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

Subscription Agreement [Member]

Subscription Agreement [Member]

Operating Partnership [Member]

Equity Option [Member]

Equity Option [Member]

Equity Option [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Option One [Member]

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

Board of Trustees [Member]

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

2012 Equity Incentive Plan [Member]

Changes In Equity And Comprehensive Income Line Items [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Units issued

'

'

653,492

'

'

'

'

653,492

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Rate of Preferred Units

'

'

'

'

'

'

'

3.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Annual distribution

'

'

'

'

'

'

'

$0.53

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair market value per Preferred Unit

'

'

'

'

'

'

'

15

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred units outstanding

'

'

'

'

'

'

'

'

653,492

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of shares under the plan

'

'

'

'

'

'

'

'

'

'

650,000

'

'

1,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

1,500,000

Plan termination date

'

'

'

'November 2022

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock options granted

'

'

'

'

50,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting Period

'

'

'

'4 years

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expiration period of options

'

'

'

'10 years

'10 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock options cancelled

'

'

'

60,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reclassified grants to employees, stock options

'

'

'

'

'

'

'

'

'

'

'

'

485,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based compensation expense

$153,000

$606,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$153,000

$494,000

$112,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued

'

'

'

'

'

'

'

'

'

'

'

6,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

434,783

3,333,334

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate purchase price of shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase price per share

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$17.25

$15

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of interest held

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.90%

6.90%

0.10%

'

'

'

'

'

'

'

'

'

'

Units outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

199,278,586

38,697,333

'

'

31,085,974

4,375,000

'

'

'

'

Preferred Units converted into Class A units

'

'

'

'

'

'

'

'

'

653,492

'

'

'

'

'

'

653,492

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Noncontrolling interest

$3,798,000

$9,357,000

'

'

'

$230,000

$228,000

'

'

'

'

'

'

'

'

'

'

'

'

'

$670,000

$780,000

'

'

'

$4,698,000

$10,208,000

'

'

$0

$157,000

'

'

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)

1 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

Feb. 28, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Feb. 28, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Nov. 30, 2012

Nov. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Feb. 28, 2013

Nov. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Property

Property

Class A Common Shares [Member]

Class A Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

2,770 Property Contribution [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

Advisor [Member]

Advisor [Member]

Advisor [Member]

Advisor [Member]

Property Manager [Member]

Property Manager [Member]

Property Manager [Member]

Property

Class A Common Shares [Member]

Class A Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Class A Units [Member]

Class A Units [Member]

3.5% Convertible Perpetual Preferred Units [Member]

Series C Convertible Units [Member]

Series D Convertible Units [Member]

Series E Convertible Units [Member]

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

Agreement on Investment Opportunities [Member]

Agreement on Investment Opportunities [Member]

Agreement on Investment Opportunities [Member]

Agreement on Investment Opportunities [Member]

2,770 Property Contribution [Member]

Deferred Costs and Other Intangibles [Member]

Operating Expenses [Member]

Property

Property

Property

Property

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common shares owned

'

'

'

'

'

'

'

'

'

'

3.70%

8.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common shares outstanding

'

'

'

184,856,219

38,663,998

635,075

667

'

'

'

'

'

635,075

667

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Units outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13,787,292

32,668

'

31,085,974

4,375,000

4,375,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred units outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

653,492

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity interest rate

'

'

'

'

'

'

'

'

25.60%

17.20%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Advisory management fee in percent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.75%

'

'

'

'

'

'

Permanent reduction in Advisory management fee

$9,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$9,800,000

'

'

'

'

'

'

Number of properties

'

21,267

3,644

'

'

'

'

2,770

'

'

'

'

'

'

'

'

'

'

'

'

109

2,628

33

'

'

'

'

'

'

'

2,770

'

'

'

Advisory fees

'

6,352,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,352,000

'

'

'

'

'

Accrued management fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

937,000

'

'

'

'

Property management fee in percent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

'

'

Leasing fee description

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'One-half month of each lease's annual rent

'

'

Fees incurred to the Property Manager

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,888,000

1,264,000

Acquisition and renovation fee in percent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

Monthly maintenance fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

Acquisition and renovation fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

22,947,000

95,319,000

'

'

'

'

'

'

'

'

'

Asset acquisition cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

22,666,000

92,718,000

'

'

'

'

'

'

'

'

'

Property acquisition cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

281,000

2,601,000

'

'

'

'

'

'

'

'

'

Accrued acquisition and renovation fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1,120,000

$2,811,000

'

'

'

'

'

'

'

'

Related_Party_Transactions_Add1

Related Party Transactions - Additional Information 1 (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Related Party Transaction [Line Items]	'	'	'	'
General and administrative expenses	$2,742,000	$2,291,000	$5,178,000	$3,948,000
MMI [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Compensation and benefit costs, net	7,173,000	'	8,397,000	'
Accrued and unpaid reimbursable compensation and benefit costs	748,000	'	748,000	'
Sponsor [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
General and administrative expenses	$0	$2,276,000	$993,000	$3,929,000

Contributions_by_our_Sponsor_A

Contributions by our Sponsor - Additional Information (Detail) (USD $)

1 Months Ended

9 Months Ended

1 Months Ended

1 Months Ended

7 Months Ended

1 Months Ended

7 Months Ended

9 Months Ended

12 Months Ended

Feb. 28, 2013

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Feb. 28, 2013

Sep. 30, 2013

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Dec. 31, 2012

Feb. 28, 2013

Sep. 30, 2013

Dec. 31, 2012

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Property

Property

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Series C convertible units [Member]

Common Class C [Member]

Series C Convertible Units [Member]

Series C Convertible Units [Member]

2012 Offering [Member]

2012 Offering [Member]

2012 Offering [Member]

Property

Sponsor [Member]

Sponsor [Member]

Sponsor [Member]

2,770 Property Contribution [Member]

2,770 Property Contribution [Member]

Operating Partnership [Member]

Property

Class A Common Shares [Member]

Class B Common Shares [Member]

Property

Property

Property

Operating Partnership [Member]

Significant Acquisitions and Disposals [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties

'

21,267

'

3,644

2,770

109

2,628

33

'

'

'

'

'

'

'

'

'

'

367

'

'

Investment made in cash by sponsor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$556,000

'

'

Contributed single-family properties value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

49,444,000

'

'

Acquisition fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

Common shares issue to sponsor

'

'

'

'

'

'

'

'

184,856,219

38,663,998

634,408

635,075

667

634,408

'

'

'

'

'

3,300,000

667

Units issue to sponsor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,085,974

'

'

'

32,667

'

'

Net book value of properties contributed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

47,646,000

'

'

Costs to transfer title to the properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

455,000

'

'

Total consideration amount

'

'

'

'

491,666,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common units issue to sponsor per unit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$15.50

'

'

$15.50

'

'

'

Common shares issue to sponsor per share

'

'

'

'

'

'

'

'

'

'

'

'

'

$15.50

'

'

'

'

'

'

'

Net asset value reclassified from additional paid-in capital

386,500,000

384,255,000

264,867,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Units issue to sponsor, value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

378,770,000

'

'

'

'

'

Common shares issue to sponsor, value

'

'

'

'

'

'

'

'

'

'

7,730,000

'

'

'

'

'

'

'

'

'

'

Other liabilities net associated with the properties

2,508,000

2,508,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Costs of improvements

'

13,194,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase in Units issued to sponsor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,930,000

'

'

'

'

Increase in common shares issue to sponsor

'

'

'

'

'

'

'

'

'

'

'

264,000

'

'

'

'

'

'

'

'

'

Total reduction to additional paid-in capital

'

356,453,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit associated to properties acquired

'

19,552,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Excess of par value associated with issuance of the shares

'

7,987,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Par value of common shares

'

6,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Permanent reduction in advisory fee

$9,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Contributions_by_our_Sponsor_S

Contributions by our Sponsor - Summary of Net Assets and Historical Net Loss of Single-Family Properties Acquired by Sponsor (Detail) (USD $)	3 Months Ended		9 Months Ended			1 Months Ended	6 Months Ended	2 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Feb. 28, 2013	Dec. 31, 2012	Feb. 28, 2013
	Property		Property		Property	2,770 Property Contribution [Member]	2,770 Property Contribution [Member]	2,770 Property Contribution [Member]
						Property	Business Acquisition One [Member]	Business Acquisition Two [Member]
							Property	Property
Significant Acquisitions and Disposals [Line Items]	'	'	'	'	'	'	'	'
Number of properties	21,267	'	21,267	'	3,644	2,770	2,661	109
Single family properties	$3,530,122,000	'	$3,530,122,000	'	$505,713,000	$386,500,000	$365,937,000	$20,563,000
Other assets	'	'	'	'	'	5,117,000	7,203,000	-2,086,000
Other liabilities	'	'	'	'	'	-7,625,000	-8,183,000	558,000
Net assets contributed	'	'	'	'	'	383,992,000	364,957,000	19,035,000
Rents from single family properties	48,743,000	983,000	72,887,000	1,263,000	'	8,133,000	4,413,000	3,720,000
Property operating expenses	'	'	'	'	'	-5,246,000	-3,326,000	-1,920,000
Depreciation	'	'	'	'	'	-3,345,000	-2,021,000	-1,324,000
Allocated general and administrative expenses	-2,742,000	-2,291,000	-5,178,000	-3,948,000	'	-7,989,000	-6,996,000	-993,000
Net loss	'	'	'	'	'	-8,447,000	-7,930,000	-517,000
Contributed net assets and net loss	'	'	'	'	'	$392,439,000	$372,887,000	$19,552,000

Acquisitions_and_Dispositions_1

Acquisitions and Dispositions - Additional Information (Detail) (USD $)

Sep. 30, 2013

Jun. 10, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 11, 2013

Sep. 30, 2013

Jun. 11, 2013

Jun. 10, 2013

Jun. 10, 2013

Jun. 10, 2013

Jun. 10, 2013

Jun. 10, 2013

Jun. 10, 2013

Jun. 10, 2013

Management Internalization [Member]

Management Internalization [Member]

Management Internalization [Member]

Alaska Joint Venture Acquisition [Member]

Alaska Joint Venture Acquisition [Member]

Alaska Joint Venture Acquisition [Member]

Series D Convertible Units [Member]

Series D Convertible Units [Member]

Series E Convertible Units [Member]

Series D Units [Member]

Series E Units [Member]

Vehicles [Member]

Vehicles [Member]

Property

Operating Partnership [Member]

Operating Partnership [Member]

Management Internalization [Member]

Management Internalization [Member]

Management Internalization [Member]

Management Internalization [Member]

Management Internalization [Member]

Management Internalization [Member]

Minimum [Member]

Maximum [Member]

Acquisitions And Dispositions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquired of membership interests

'

100.00%

'

'

100.00%

'

'

'

'

'

'

'

'

'

Acquisition date

'

'

'

10-Jun-13

'

11-Jun-13

'

'

'

'

'

'

'

'

Issuance of units

'

'

'

'

'

'

'

'

4,375,000

4,375,000

'

'

'

'

Company's right to receive promoted interests in future outside investment

'

'

'

'

'

'

'

'

'

'

'

'

20.00%

100.00%

Acquisition and renovation fee in percent

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

Monthly maintenance fee

'

$100,000

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of units

'

'

'

'

'

'

'

'

'

'

65,188,000

64,881,000

'

'

Goodwill from acquisition

120,655,000

120,655,000

120,655,000

120,655,000

'

'

'

'

'

'

'

'

'

'

Net monetary assets

'

6,958,000

'

'

'

'

'

'

'

'

'

'

'

'

Net monetary assets, settled

'

'

6,958,000

6,958,000

'

'

'

'

'

'

'

'

'

'

Estimated cash and cash equivalents

'

8,982,000

'

'

22,989,000

'

'

'

'

'

'

'

'

'

Fair value of acquired assets

'

'

130,069,000

130,069,000

904,487,000

904,487,000

'

'

'

'

'

'

'

'

Issuance of common shares

'

'

'

'

43,609,394

'

'

'

'

'

'

'

'

'

Issuance of Operating Partnership units

'

'

'

'

'

'

12,395,965

4,375,000

'

'

'

'

'

'

Number of single-family properties in acquired

'

'

'

'

4,778

'

'

'

'

'

'

'

'

'

Net cash flows produced by Joint Venture

'

'

'

'

1,896,000

1,896,000

'

'

'

'

'

'

'

'

Percentage of properties leased as of acquisition date

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

Estimated net monetary assets

'

'

'

'

$12,995,000

'

'

'

'

'

'

'

'

'

Acquisitions_and_Dispositions_2

Acquisitions and Dispositions - Schedule of Fair Values of Assets Acquired (Detail) (USD $)	Sep. 30, 2013	Sep. 30, 2013	Jun. 10, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Jun. 11, 2013	Sep. 30, 2013
		Management Internalization [Member]	Management Internalization [Member]	Management Internalization [Member]	Management Internalization [Member]	Alaska Joint Venture Acquisition [Member]	Alaska Joint Venture Acquisition [Member]	RJ LLC [Member]
				Trademark [Member]	Database [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'
Land	'	'	'	'	'	$156,648,000	'	$10,340,000
Building and improvements	'	4,214,000	'	'	'	740,396,000	'	54,123,000
Identified intangible assets	'	'	'	3,100,000	2,100,000	'	'	'
Receivable for net cash flows prior to acquisition date	'	'	'	'	'	1,896,000	1,896,000	'
Value of in-place leases	'	'	'	'	'	5,547,000	'	539,000
Goodwill	120,655,000	120,655,000	120,655,000	'	'	'	'	'
Cash and cash equivalents	'	'	'	'	'	'	'	1,128,000
Other current assets and liabilities, net	'	'	'	'	'	'	'	-311,000
Note payable	'	'	'	'	'	'	'	-7,600,000
Fair value of acquired assets	'	130,069,000	'	'	'	904,487,000	904,487,000	'
Noncontrolling interest	-39,321,000	'	'	'	'	'	'	-39,321,000
Fair value of acquired net assets	'	'	'	'	'	'	'	$18,898,000

Acquisitions_and_Dispositions_3

Acquisitions and Dispositions - Additional Information 1 (Detail) (USD $)

1 Months Ended

9 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

Jun. 27, 2013

Dec. 31, 2012

Sep. 30, 2013

Jun. 14, 2013

Jun. 14, 2013

Sep. 30, 2013

Jun. 14, 2013

Sep. 20, 2012

Sep. 20, 2012

Sep. 20, 2012

Jun. 14, 2013

Sep. 30, 2013

Jun. 14, 2013

Dec. 31, 2012

Sep. 30, 2013

Mar. 15, 2013

Mar. 15, 2013

Mar. 15, 2013

Property

Property

Property

Class A Common Shares [Member]

Class A Units [Member]

RJ American Homes 4 Rent One, LLC [Member]

RJ American Homes 4 Rent One, LLC [Member]

RJ American Homes 4 Rent One, LLC [Member]

RJ American Homes 4 Rent One, LLC [Member]

RJ LLC [Member]

RJ LLC [Member]

RJ LLC [Member]

RJ LLC [Member]

RJ LLC [Member]

RJ American Homes 4 Rent Two, LLC [Member]

RJ American Homes 4 Rent Two, LLC [Member]

RJ American Homes 4 Rent Two, LLC [Member]

Property

Class A Common Shares [Member]

Class B Common Shares [Member]

Property

Class A Common Shares [Member]

Class B Common Shares [Member]

Class A Units [Member]

Property

Class A Common Shares [Member]

Class B Common Shares [Member]

Acquisitions And Dispositions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Initial capital contribution of single-family properties

'

3,644

21,267

'

'

'

'

177

'

'

377

'

'

'

'

214

'

'

Acquisition percentage

'

'

'

'

'

'

'

100.00%

67.00%

33.00%

100.00%

'

'

'

'

100.00%

67.00%

33.00%

Preferred Units issued

'

'

'

653,492

'

'

'

'

'

'

'

'

'

653,492

'

'

'

'

Percentage of promoted interest distributions made from RJ1 to RJ LLC

'

20.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred units outstanding

'

'

'

'

'

'

'

'

'

'

653,492

'

'

'

'

'

'

'

Preferred Units converted into Class A units

'

'

'

'

653,492

'

'

'

'

'

'

'

653,492

'

'

'

'

'

Additional unit issued

'

'

'

'

705,167

'

'

'

'

'

'

'

705,167

'

'

'

'

'

Fair value of Preferred Units redeemed

'

'

'

'

'

'

'

'

'

'

'

'

$11,283,000

'

$10,456,000

'

'

'

Basis for conversion

'

'

'

'

'

'

'

'

'

'

'

'

'One-for-one

'

'

'

'

'

Operating Partnership loan

'

'

'

'

'

'

7,600,000

'

'

'

'

'

'

'

'

'

'

'

Gain on remeasurement of equity method investment

'

'

'

'

'

'

'

'

'

'

10,900,000

'

'

'

'

'

'

'

Redemption of Preferred Units

'

'

'

'

'

'

'

'

'

'

'

653,492

'

'

'

'

'

'

Carrying value of Preferred Units redeemed

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties sold

38

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gross sales price of properties sold

8,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on disposition of assets

$904,000

'

$904,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisitions_and_Dispositions_4

Acquisitions and Dispositions - Carrying Value and Fair Value of Company's Class B Interest and Resulting Gain on Remeasurement (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Business Acquisition [Line Items]	'
Gain on remeasurement of equity method investment	$10,945,000
RJ LLC [Member]	'
Business Acquisition [Line Items]	'
Fair value of existing Class B interest	7,615,000
Carrying value of Class B interest	-3,330,000
Gain on remeasurement of equity method investment	$10,945,000

Acquisitions_and_Dispositions_5

Acquisitions and Dispositions - Schedule of Total Revenues and Net Income Attributable to Acquisitions (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Management Internalization [Member]	'
Business Acquisition [Line Items]	'
Total revenues	$959
Net (loss) / income	-13,818
Alaska Joint Venture Acquisition [Member]	'
Business Acquisition [Line Items]	'
Total revenues	19,624
Net (loss) / income	54
2013 RJ Transaction [Member]	'
Business Acquisition [Line Items]	'
Total revenues	640
Net (loss) / income	($111)

Acquisitions_and_Dispositions_6

Acquisitions and Dispositions - Schedule of Company's Supplemental Consolidated Pro Forma Total Revenues and Net Income (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Business Combinations [Abstract]	'	'	'	'
Pro forma total revenues	$49,463	$2,809	$95,595	$5,302
Pro forma net loss	($3,861)	($3,018)	($16,111)	($8,189)

Net_loss_per_share_Computation

Net loss per share - Computation of Net Loss per Share on Basic and Diluted Basis (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income / loss (numerator):	'	'	'	'
Loss from continuing operations	($3,861,000)	($2,675,000)	($10,603,000)	($4,405,000)
Income from discontinued operations	'	'	1,008,000	'
Noncontrolling interest	3,798,000	'	9,357,000	'
Conversion of preferred units	'	'	10,456,000	'
Net loss attributable to common shareholders	($7,659,000)	($2,675,000)	($29,408,000)	($4,405,000)
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	162,725,150	3,301,667	102,729,661	3,301,667
Net loss per share- basic and diluted:	'	'	'	'
Loss from continuing operations	($0.05)	($0.81)	($0.30)	($1.33)
Income from discontinued operations	'	'	$0.01	'
Net loss per share- basic and diluted	($0.05)	($0.81)	($0.29)	($1.33)
Formation Transactions [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	3,301,000	3,301,000	3,301,000	3,301,000
Formation Transactions [Member] | Class B Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	667	667	667	667
2012 Offering [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	35,362,998	'	35,362,998	'
2013 Offering [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	46,718,750	'	34,397,321	'
2,770 Property Contribution [Member] | Class B Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	634,408	'	499,625	'
IPO [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	26,854,220	'	9,049,774	'
2013 Concurrent Private Placements [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	2,853,261	'	961,538	'
IPO Over-allotment Exercise [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	2,949,169	'	993,860	'
Alaska Joint Venture Acquisition [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	43,609,394	'	17,891,033	'
Subscription Agreement [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	434,783	'	267,559	'
Board of Trustees [Member] | Class A Common Shares [Member]	'	'	'	'
Weighted-average shares (denominator):	'	'	'	'
Total weighted-average shares	6,500	'	4,286	'

Net_loss_per_share_Additional_

Net loss per share - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Feb. 28, 2013	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2012
			Class A Common Shares [Member]	Class A Common Shares [Member]	Class B Common Shares [Member]	Class B Common Shares [Member]	Class B Common Shares [Member]	Formation Transactions [Member]	Formation Transactions [Member]
								Class A Common Shares [Member]	Class B Common Shares [Member]
Schedule Of Earnings Per Share Basic And Diluted By Common Class [Line Items]	'	'	'	'	'	'	'	'	'
Common shares issue to sponsor	'	'	184,856,219	38,663,998	635,075	634,408	667	3,301,000	667
Total weighted average shares	54,263,266	54,263,266	'	'	'	'	'	'	'

Commitments_and_contingencies_

Commitments and contingencies - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
	Property	Property
Loss Contingencies [Line Items]	'	'
Aggregate outstanding commitments	$4,612,000	$1,694,000
Number of properties	21,267	3,644
Purchase Commitment [Member]	'	'
Loss Contingencies [Line Items]	'	'
Number of properties	416	462
Aggregate purchase price	$57,573,000	$70,082,000

Noncash_transactions_Additiona

Noncash transactions - Additional Information (Detail) (USD $)

Jun. 14, 2013

Feb. 28, 2013

Jun. 11, 2013

Feb. 28, 2013

Sep. 30, 2013

Feb. 28, 2013

Dec. 31, 2012

Jun. 10, 2013

Jun. 10, 2013

Jun. 14, 2013

Sep. 30, 2013

Dec. 31, 2012

Jun. 14, 2013

Jun. 11, 2013

Jun. 11, 2013

Alaska Joint Venture Acquisition [Member]

Series C convertible units [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Class B Common Shares [Member]

Series D Convertible Units [Member]

Series E Convertible Units [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Common Shares [Member]

Class A Units [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Operating Partnership [Member]

Alaska Joint Venture Acquisition [Member]

Alaska Joint Venture Acquisition [Member]

Operating Partnership [Member]

Nonmonetary Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net carrying cost

'

$386,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Units outstanding

'

'

'

31,085,974

'

'

'

'

'

'

'

'

'

'

'

Common shares issued

'

'

'

'

635,075

634,408

667

'

'

'

184,856,219

38,663,998

'

'

'

Issuance of units

'

'

12,395,965

'

'

'

'

4,375,000

4,375,000

'

'

'

'

'

12,395,965

Acquisition of Joint Venture

'

'

'

'

'

'

'

'

'

'

'

'

'

43,609,394

'

Preferred Units issued

653,492

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Conversion to Class A units

'

'

'

'

'

'

'

'

'

653,492

'

'

653,492

'

'

Additional units issued

'

'

'

'

'

'

'

'

'

705,167

'

'

'

'

'

Fair_Value_Additional_Informat

Fair Value - Additional Information (Detail) (Revolving Credit Facility [Member])	9 Months Ended
	Sep. 30, 2013
Revolving Credit Facility [Member]	'
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'
Debt instrument variable interest rate, description	'30 day LIBOR
Debt instrument variable interest rate	2.75%

Fair_Value_Fair_Value_of_Conti

Fair Value - Fair Value of Contingently Convertible Series E Units Liability (Detail) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'	'
Contingently convertible Series E units liability	$65,319	$65,319
Remeasurement of Series E units included in earnings	-438	-438
Contingently convertible Series E units liability, Ending Balance	65,319	65,319
Contingently Convertible Series E Units Liability [Member]	'	'
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'	'
Contingently convertible Series E units liability	65,319	65,319
Contingently convertible Series E units liability, Beginning Balance	64,881	'
Remeasurement of Series E units included in earnings	438	'
Contingently convertible Series E units liability, Ending Balance	65,319	65,319
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'	'
Contingently convertible Series E units liability	'	'
Contingently convertible Series E units liability, Ending Balance	'	'
Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'	'
Contingently convertible Series E units liability	'	'
Contingently convertible Series E units liability, Ending Balance	'	'
Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]	'	'
Contingently convertible Series E units liability	65,319	65,319
Contingently convertible Series E units liability, Ending Balance	$65,319	$65,319

Subsequent_events_Additional_I

Subsequent events - Additional Information (Detail) (USD $)	9 Months Ended	1 Months Ended					0 Months Ended	1 Months Ended		0 Months Ended
	Sep. 30, 2013	Aug. 31, 2013	Oct. 25, 2013	Oct. 31, 2013	Nov. 08, 2013	Oct. 31, 2013	Nov. 07, 2013	Oct. 25, 2013	Nov. 08, 2013	Nov. 07, 2013
		Class A Common Shares [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]
				Property		Preferred Offering [Member]	5% Series A Participating Preferred Shares [Member]	5% Series A Participating Preferred Shares [Member]	5% Series A Participating Preferred Shares [Member]	Class A Common Shares [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of properties acquired	'	'	'	600	'	'	'	'	'	'
Aggregate purchase price of properties acquired	'	'	'	$79,260,000	'	'	'	'	'	'
Proceeds from offering before fees	'	'	110,000,000	'	16,500,000	'	'	'	'	'
Underwriting discounts and estimated offering costs	'	'	6,204,000	'	825,000	'	'	'	'	'
Sale of stock, number of shares issued	'	55,422,794	'	'	'	'	'	4,400,000	660,000	'
Preferred shares dividend rate	'	'	'	'	'	'	'	5.00%	5.00%	'
Credit facility, additional borrowings, amount	'	'	'	122,000,000	'	'	'	'	'	'
Credit facility, repayment, amount	806,000,000	'	'	140,000,000	'	95,000,000	'	'	'	'
Credit facility, amount outstanding	'	'	'	'	'	$220,000,000	'	'	'	'
Quarterly distribution per common share	'	'	'	'	'	'	'	'	'	$0.05
Quarterly distribution, payable date	'	'	'	'	'	'	31-Dec-13	'	'	10-Jan-14
Quarterly distribution, record date	'	'	'	'	'	'	15-Dec-13	'	'	15-Dec-13
Quarterly dividend per share on Preferred Shares	'	'	'	'	'	'	$0.23	'	'	'