American Homes 4 Rent (AMH) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 02, 2018
Document Information
Entity Registrant Name	American Homes 4 Rent
Entity Central Index Key	1,562,401
Current Fiscal Year End Date	--12-31
Entity Current Reporting Statues	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common shares/units
Document Information
Entity Common Stock, Shares Outstanding		295,218,488
Class B common shares
Document Information
Entity Common Stock, Shares Outstanding		635,075
American Homes 4 Rent, L.P.
Document Information
Entity Registrant Name	American Homes 4 Rent, L.P.
Entity Central Index Key	1,716,558
Current Fiscal Year End Date	--12-31
Entity Current Reporting Statues	Yes
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Single-family properties:
Land	$ 1,670,599	$ 1,665,631
Buildings and improvements	7,286,264	7,303,270
Single-family properties held for sale, net	201,693	35,803
Single-family properties, gross	9,158,556	9,004,704
Less: accumulated depreciation	(989,476)	(939,724)
Single-family properties, net	8,169,080	8,064,980
Cash and cash equivalents	203,883	46,156
Restricted cash	156,272	136,667
Rent and other receivables, net	28,115	30,144
Escrow deposits, prepaid expenses and other assets	241,707	171,851
Deferred costs and other intangibles, net	13,031	13,025
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	8,958,033	8,608,768
Liabilities
Asset-backed securitizations, net	1,973,242	1,977,308
Unsecured senior notes, net	492,282	0
Exchangeable senior notes, net	112,597	111,697
Secured note payable	48,604	48,859
Accounts payable and accrued expenses	262,267	222,867
Amounts payable to affiliates	2,001	4,720
Participating preferred shares/units derivative liability	28,258	29,470
Total liabilities	3,117,383	2,732,944
Commitments and contingencies
Shareholders’ equity:
Preferred shares, $0.01 par value per share, 100,000,000 shares authorized, 38,350,000 shares issued and outstanding at March 31, 2018, and December 31, 2017	384	384
Additional paid-in capital	5,565,871	5,600,256
Accumulated deficit	(462,504)	(453,953)
Accumulated other comprehensive income	9,508	75
Total shareholders’ equity	5,116,109	5,149,629
Limited partners:
Accumulated other comprehensive income	9,508	75
Noncontrolling interest	724,541	726,195
Total equity	5,840,650	5,875,824
Total liabilities and equity/capital	8,958,033	8,608,768
American Homes 4 Rent, L.P.
Single-family properties:
Land	1,670,599	1,665,631
Buildings and improvements	7,286,264	7,303,270
Single-family properties held for sale, net	201,693	35,803
Single-family properties, gross	9,158,556	9,004,704
Less: accumulated depreciation	(989,476)	(939,724)
Single-family properties, net	8,169,080	8,064,980
Cash and cash equivalents	203,883	46,156
Restricted cash	156,272	136,667
Rent and other receivables, net	28,115	30,144
Escrow deposits, prepaid expenses and other assets	241,697	171,851
Amounts due from affiliates	25,676	25,666
Deferred costs and other intangibles, net	13,031	13,025
Goodwill	120,279	120,279
Total assets	8,958,033	8,608,768
Liabilities
Asset-backed securitizations, net	1,973,242	1,977,308
Unsecured senior notes, net	492,282	0
Exchangeable senior notes, net	112,597	111,697
Secured note payable	48,604	48,859
Accounts payable and accrued expenses	262,267	222,867
Amounts payable to affiliates	2,001	4,720
Participating preferred shares/units derivative liability	28,258	29,470
Total liabilities	3,117,383	2,732,944
Commitments and contingencies
Shareholders’ equity:
Accumulated other comprehensive income	9,508	75
Limited partners:
Limited partners, capital account	725,901	727,544
Accumulated other comprehensive income	9,508	75
Total partners' capital	5,842,010	5,877,173
Noncontrolling interest	(1,360)	(1,349)
Total capital	5,840,650	5,875,824
Total liabilities and equity/capital	8,958,033	8,608,768
American Homes 4 Rent, L.P. | Common Units
General partner:
General partner, capital account	4,205,283	4,248,236
Limited partners:
Limited partners, capital account	725,901	727,544
American Homes 4 Rent, L.P. | Preferred Shares/Units
General partner:
General partner, capital account	901,318	901,318
Class A common shares/units
Shareholders’ equity:
Common stock, value, issued	2,844	2,861
Class B common shares
Shareholders’ equity:
Common stock, value, issued	6	6
Term loan facility, net
Liabilities
Credit facility	198,132	198,023
Term loan facility, net | American Homes 4 Rent, L.P.
Liabilities
Credit facility	198,132	198,023
Revolving Credit Facility
Liabilities
Credit facility	0	140,000
Revolving Credit Facility | American Homes 4 Rent, L.P.
Liabilities
Credit facility	$ 0	$ 140,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	38,350,000	38,350,000
Preferred shares, shares outstanding (in shares)	38,350,000	38,350,000
American Homes 4 Rent, L.P. | General Partner
Common units, shares/units issued (in shares)	285,004,736	286,749,712
Common units, shares/units outstanding (in shares)	285,004,736	286,749,712
Preferred units, shares/units issued (in shares)	38,350,000	38,350,000
Preferred units, shares/units outstanding (in shares)	38,350,000	38,350,000
American Homes 4 Rent, L.P. | Limited Partners
Common units, shares/units issued (in shares)	55,350,153	55,350,153
Common units, shares/units outstanding (in shares)	55,350,153	55,350,153
Class A common shares/units
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	284,369,661	286,114,637
Common stock, shares outstanding (in shares)	284,369,661	286,114,637
Class B common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	635,075	635,075
Common stock, shares outstanding (in shares)	635,075	635,075

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Rents from single-family properties	$ 218,023	$ 201,107
Fees from single-family properties	2,833	2,604
Tenant charge-backs	35,807	28,373
Other	1,341	1,670
Total revenues	258,004	233,754
Expenses:
Property operating expenses	100,987	83,305
Property management expenses	18,987	17,478
General and administrative expense	9,231	9,295
Interest expense	29,301	31,889
Acquisition fees and costs expensed	1,311	1,096
Depreciation and amortization	79,303	73,953
Other	827	1,558
Total expenses	239,947	218,574
Gain on sale of single-family properties and other, net	2,256	2,026
Remeasurement of participating preferred units	1,212	(5,410)
Net income	21,525	11,796
Noncontrolling interest	1,114	(301)
Dividends on preferred shares/Preferred distributions	14,597	13,587
Net income (loss) attributable to common shareholders/unitholders	$ 5,814	$ (1,490)
Weighted-average shares/common units outstanding:
Basic (in shares)	286,183,429	244,391,368
Diluted (in shares)	286,727,863	244,391,368
Net income (loss) attributable to common shareholders/unitholders per share/unit
Basic (in dollars per share)	$ 0.02	$ (0.01)
Diluted (in dollars per share)	0.02	(0.01)
Dividends declared per common share (in dollars per share)	$ 0.05	$ 0.05
American Homes 4 Rent, L.P.
Revenues:
Rents from single-family properties	$ 218,023	$ 201,107
Fees from single-family properties	2,833	2,604
Tenant charge-backs	35,807	28,373
Other	1,341	1,670
Total revenues	258,004	233,754
Expenses:
Property operating expenses	100,987	83,305
Property management expenses	18,987	17,478
General and administrative expense	9,231	9,295
Interest expense	29,301	31,889
Acquisition fees and costs expensed	1,311	1,096
Depreciation and amortization	79,303	73,953
Other	827	1,558
Total expenses	239,947	218,574
Gain on sale of single-family properties and other, net	2,256	2,026
Remeasurement of participating preferred units	1,212	(5,410)
Net income	21,525	11,796
Noncontrolling interest	(11)	38
Dividends on preferred shares/Preferred distributions	14,597	13,587
Net income (loss) attributable to common shareholders/unitholders	$ 6,939	$ (1,829)
Weighted-average shares/common units outstanding:
Basic (in shares)	341,533,582	299,947,328
Diluted (in shares)	342,078,016	299,947,328
Net income (loss) attributable to common shareholders/unitholders per share/unit
Basic (in dollars per share)	$ 0.02	$ (0.01)
Diluted (in dollars per share)	$ 0.02	$ (0.01)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 21,525	$ 11,796
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	0
Reclassification adjustment for amortization of interest expense included in net income	(120)	(28)
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income	0	(67)
Other comprehensive income (loss)	9,433	(95)
Comprehensive income	30,958	11,701
Comprehensive income (loss) attributable to noncontrolling interests	2,643	(283)
Dividends on preferred shares/Preferred distributions	14,597	13,587
Comprehensive income (loss) attributable to common shareholders/unitholders	13,718	(1,603)
American Homes 4 Rent, L.P.
Net income	21,525	11,796
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	0
Reclassification adjustment for amortization of interest expense included in net income	(120)	(28)
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income	0	(67)
Other comprehensive income (loss)	9,433	(95)
Comprehensive income	30,958	11,701
Comprehensive income (loss) attributable to noncontrolling interests	(11)	38
Dividends on preferred shares/Preferred distributions	14,597	13,587
Comprehensive income (loss) attributable to common shareholders/unitholders	$ 16,372	$ (1,924)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Shareholders’ equity	Common StockClass A common shares/units	Common StockClass B common shares	Preferred shares	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income	Noncontrolling interest
Beginning balances at Dec. 31, 2017	$ 5,875,824	$ 5,149,629	$ 2,861	$ 6	$ 384	$ 5,600,256	$ (453,953)	$ 75	$ 726,195
Beginning balance (in shares) at Dec. 31, 2017			286,114,637	635,075	38,350,000
Increase (Decrease) in Stockholders' Equity
Share-based compensation	975	975				975
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	(408)	(408)	$ 1			(409)
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)			59,187
Repurchase of Class A common shares	(34,969)	(34,969)	$ (18)			(34,951)			0
Repurchases of Class A common shares (in shares)			(1,804,163)
Distributions to equity holders:
Preferred shares	(14,597)	(14,597)					(14,597)
Noncontrolling interests	(2,768)								(2,768)
Common shares	(14,365)	(14,365)					(14,365)
Net income	21,525	20,411					20,411		1,114
Total other comprehensive income	9,433	9,433						9,433
Ending balances at Mar. 31, 2018	$ 5,840,650	$ 5,116,109	$ 2,844	$ 6	$ 384	$ 5,565,871	$ (462,504)	$ 9,508	$ 724,541
Ending balance (in shares) at Mar. 31, 2018			284,369,661	635,075	38,350,000

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Capital $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)shares
Distributions to equity holders:
Net income	$ 21,525
Total other comprehensive income	9,433
American Homes 4 Rent, L.P.
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	5,875,824
Share-based compensation	975
Common units issued under share-based compensation plans, net of units withheld for employee taxes	(408)
Repurchase of Class A units	(34,969)
Distributions to equity holders:
Preferred units	(14,597)
Common units	(17,133)
Net income	21,525
Total other comprehensive income	9,433
Total capital, ending balance	5,840,650
American Homes 4 Rent, L.P. | Total partners' capital
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	5,877,173
Share-based compensation	975
Common units issued under share-based compensation plans, net of units withheld for employee taxes	(408)
Repurchase of Class A units	(34,969)
Distributions to equity holders:
Preferred units	(14,597)
Common units	(17,133)
Net income	21,536
Total other comprehensive income	9,433
Total capital, ending balance	5,842,010
American Homes 4 Rent, L.P. | Accumulated other comprehensive income
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	75
Distributions to equity holders:
Total other comprehensive income	9,433
Total capital, ending balance	9,508
American Homes 4 Rent, L.P. | Noncontrolling interest
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	(1,349)
Distributions to equity holders:
Net income	(11)
Total capital, ending balance	(1,360)
American Homes 4 Rent, L.P. | General Partner | Common Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	$ 4,248,236
Beginning balance (in shares) | shares	286,749,712
Share-based compensation	$ 975
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ (408)
Common units issued under share-based compensation plans, net of units withheld for employee taxes (in shares) | shares	59,187
Repurchase of Class A units	$ (34,969)
Repurchase of Class A units (in shares) | shares	(1,804,163)
Distributions to equity holders:
Common units	$ (14,365)
Net income	5,814
Total capital, ending balance	$ 4,205,283
Ending balance (in shares) | shares	285,004,736
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	$ 901,318
Distributions to equity holders:
Preferred units	(14,597)
Net income	14,597
Total capital, ending balance	901,318
American Homes 4 Rent, L.P. | Limited Partners | Common Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	$ 727,544
Beginning balance (in shares) | shares	55,350,153
Distributions to equity holders:
Common units	$ (2,768)
Net income	1,125
Total capital, ending balance	$ 725,901
Ending balance (in shares) | shares	55,350,153

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 21,525	$ 11,796
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,303	73,953
Noncash amortization of deferred financing costs	1,900	2,562
Noncash amortization of discounts on debt instruments	935	840
Noncash amortization of cash flow hedging instrument	(120)	0
Noncash share-based compensation	975	938
Provision for bad debt	2,000	1,510
Remeasurement of participating preferred shares/units	(1,212)	5,410
Equity in net earnings of unconsolidated ventures	(314)	(295)
Net gain on sale of single-family properties and other	(2,256)	(2,026)
Loss on impairment of single-family properties	700	929
Net gain on resolutions of mortgage loans	0	(15)
Other changes in operating assets and liabilities:
Rent and other receivables	(3,886)	(2,657)
Prepaid expenses and other assets	(13,476)	(8,356)
Deferred leasing costs	(2,723)	(1,482)
Accounts payable and accrued expenses	29,150	22,050
Amounts payable to affiliates	(10)	4,880
Net cash provided by operating activities	112,491	110,037
Investing activities
Cash paid for single-family properties	(149,674)	(73,622)
Change in escrow deposits for purchase of single-family properties	(4,115)	(1,072)
Net proceeds received from sales of single-family properties and other	11,967	31,306
Proceeds received from hurricane-related insurance claims	4,000	0
Collections from mortgage financing receivables	0	70
Distributions from joint ventures	1,230	1,192
Initial renovations to single-family properties	(20,400)	(7,677)
Recurring and other capital expenditures for single-family properties	(11,167)	(6,484)
Other purchases of productive assets	(53,472)	(13,710)
Net cash used for investing activities	(221,631)	(69,997)
Financing activities
Proceeds from issuance of Class A common shares/units	0	350,612
Repurchase of Class A common shares/units	(34,969)	0
Share-based compensation payments, net	(414)
Share-based compensation proceeds, net		258
Payments on asset-backed securitizations	(5,312)	(6,231)
Payments on secured note payable	(255)	(245)
Settlement of cash flow hedging instrument	9,628	0
Distributions to noncontrolling interests	(5,457)	(2,779)
Distributions to common shareholders/unitholders	(14,337)	(12,214)
Distributions to preferred shareholders/unitholders	(14,597)	(13,587)
Deferred financing costs paid	5,025	0
Net cash provided by financing activities	286,472	340,578
Net increase in cash, cash equivalents and restricted cash	177,332	380,618
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241
Cash, cash equivalents and restricted cash, end of period (see Note 3)	360,155	630,859
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(22,690)	(28,487)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	9,375	(951)
Transfers of completed homebuilding deliveries to properties	8,693	0
Note receivable related to a bulk sale of properties, net of discount	0	5,483
Accrued distributions to affiliates	(2,719)	0
Accrued distributions to non-affiliates	25	0
American Homes 4 Rent, L.P.
Operating activities
Net income	21,525	11,796
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,303	73,953
Noncash amortization of deferred financing costs	1,900	2,562
Noncash amortization of discounts on debt instruments	935	840
Noncash amortization of cash flow hedging instrument	(120)	0
Noncash share-based compensation	975	938
Provision for bad debt	2,000	1,510
Remeasurement of participating preferred shares/units	(1,212)	5,410
Equity in net earnings of unconsolidated ventures	(314)	(295)
Net gain on sale of single-family properties and other	(2,256)	(2,026)
Loss on impairment of single-family properties	700	929
Net gain on resolutions of mortgage loans	0	(15)
Other changes in operating assets and liabilities:
Rent and other receivables	(3,886)	(2,657)
Prepaid expenses and other assets	(13,476)	(8,356)
Deferred leasing costs	(2,723)	(1,482)
Accounts payable and accrued expenses	29,150	22,050
Amounts payable to affiliates	(10)	4,880
Net cash provided by operating activities	112,491	110,037
Investing activities
Cash paid for single-family properties	(149,674)	(73,622)
Change in escrow deposits for purchase of single-family properties	(4,115)	(1,072)
Net proceeds received from sales of single-family properties and other	11,967	31,306
Proceeds received from hurricane-related insurance claims	4,000	0
Collections from mortgage financing receivables	0	70
Distributions from joint ventures	1,230	1,192
Initial renovations to single-family properties	(20,400)	(7,677)
Recurring and other capital expenditures for single-family properties	(11,167)	(6,484)
Other purchases of productive assets	(53,472)	(13,710)
Net cash used for investing activities	(221,631)	(69,997)
Financing activities
Proceeds from issuance of Class A common shares/units	0	350,612
Repurchase of Class A common shares/units	(34,969)	0
Share-based compensation payments, net	(414)
Share-based compensation proceeds, net		258
Payments on asset-backed securitizations	(5,312)	(6,231)
Payments on secured note payable	(255)	(245)
Settlement of cash flow hedging instrument	9,628	0
Distributions to common shareholders/unitholders	(19,794)	(14,993)
Distributions to preferred shareholders/unitholders	(14,597)	(13,587)
Deferred financing costs paid	5,025	0
Net cash provided by financing activities	286,472	340,578
Net increase in cash, cash equivalents and restricted cash	177,332	380,618
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241
Cash, cash equivalents and restricted cash, end of period (see Note 3)	360,155	630,859
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(22,690)	(28,487)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	9,375	(951)
Transfers of completed homebuilding deliveries to properties	8,693	0
Note receivable related to a bulk sale of properties, net of discount	0	5,483
Accrued distributions to affiliates	(2,719)	0
Accrued distributions to non-affiliates	25	0
Term Loan facility
Financing activities
Proceeds from debt	0	25,000
Term Loan facility | American Homes 4 Rent, L.P.
Financing activities
Proceeds from debt	0	25,000
Unsecured Senior Notes
Financing activities
Proceeds from unsecured senior notes, net of discount	497,210	0
Unsecured Senior Notes | American Homes 4 Rent, L.P.
Financing activities
Proceeds from unsecured senior notes, net of discount	497,210	0
Revolving Credit Facility
Financing activities
Proceeds from debt	100,000	0
Payments on credit facility	(240,000)	0
Revolving Credit Facility | American Homes 4 Rent, L.P.
Financing activities
Proceeds from debt	100,000	0
Payments on credit facility	(240,000)	0
Class A common shares/units
Financing activities
Stock issuance costs	0	(236)
Class A common shares/units | American Homes 4 Rent, L.P.
Financing activities
Proceeds from issuance of Class A common shares/units		350,612
Stock issuance costs	0	$ (236)
Repurchase of Class A common shares/units	$ (34,969)

Organization and Operations

Organization and Operations	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations American Homes 4 Rent (“AH4R") is a Maryland real estate investment trust (“REIT”) formed on October 19, 2012, for the purpose of acquiring, renovating, leasing and operating single-family homes as rental properties. American Homes 4 Rent, L.P., a Delaware limited partnership formed on October 22, 2012, and its consolidated subsidiaries (collectively, the "Operating Partnership," our "operating partnership" or the "OP") is the entity through which the Company conducts substantially all of our business and owns, directly or through subsidiaries, substantially all of our assets. References to “the Company,” “we,” "our," and “us” mean collectively, AH4R, the Operating Partnership and those entities/subsidiaries owned or controlled by AH4R and/or the Operating Partnership. As of March 31, 2018 , the Company held 51,840 single-family properties in 22 states, including 1,892 properties identified as part of the Company's disposition program, comprised of 1,318 properties classified as held for sale and 574 properties identified for future sale. AH4R is the general partner of, and as of March 31, 2018 , owned an approximate 83.7% common partnership interest in, the Operating Partnership with the remaining 16.3% common partnership interest owned by limited partners. As the sole general partner of the Operating Partnership, AH4R has exclusive control of the Operating Partnership’s day-to-day management. The Company’s management operates AH4R and the Operating Partnership as one business, and the management of AH4R consists of the same members as the management of the Operating Partnership. AH4R’s primary function is acting as the general partner of the Operating Partnership. The only material asset of AH4R is its partnership interest in the Operating Partnership. As a result, AH4R generally does not conduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing equity from time to time and guaranteeing certain debt of the Operating Partnership. AH4R itself is not directly obligated under any indebtedness, but guarantees some of the debt of the Operating Partnership. The Operating Partnership owns substantially all of the assets of the Company, including the Company’s ownership interests in its joint ventures, either directly or through its subsidiaries, conducts the operations of the Company’s business and is structured as a limited partnership with no publicly traded equity. One difference between the Company and the Operating Partnership is $25.7 million of asset-backed securitization certificates issued by the Operating Partnership and purchased by AH4R. The asset-backed securitization certificates are recorded as an asset-backed securitization certificates receivable by the Company and an amount due from affiliates by the Operating Partnership. AH4R contributes all net proceeds from its various equity offerings to the Operating Partnership. In return for those contributions, AH4R receives Operating Partnership units (“OP units”) equal to the number of shares it has issued in the equity offering. Based on the terms of the Agreement of Limited Partnership of the Operating Partnership, OP units can be exchanged for shares on a one-for-one basis. Except for net proceeds from equity issuances by AH4R, the Operating Partnership generates the capital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s incurrence of indebtedness or through the issuance of OP units.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements are unaudited and include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The condensed consolidated financial statements of the Operating Partnership include the accounts of the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates VIEs in accordance with Accounting Standards Codification (“ASC”) No. 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. The ownership interest in a consolidated subsidiary of the Company held by outside parties is included in noncontrolling interest within the condensed consolidated financial statements. The 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 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 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s review of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. 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, 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, compared to those policies disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 . Therefore, notes to the condensed consolidated financial statements that would substantially duplicate the disclosures contained in our most recent audited consolidated financial statements have been omitted. Recent Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which is intended to reduce the existing diversity in practice by addressing eight specific cash flow issues related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2017, and for interim periods within those annual periods with early adoption permitted. The Company adopted this guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) , to amend the accounting for credit losses for certain financial instruments by requiring companies to recognize an estimate of expected credit losses as an allowance in order to recognize such losses more timely than under previous guidance that had allowed companies to wait until it was probable such losses had been incurred. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2019, and for interim periods within those annual periods. Early adoption is permitted for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is currently assessing the impact of the guidance on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets forth principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessors and lessees). Lessor accounting will remain similar to lessor accounting under previous guidance, while aligning with the FASB's new revenue recognition guidance for non-lease components. The new guidance will require lessees to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than one year. The new guidance will also require lessees and lessors to capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Any other costs incurred, including allocated indirect costs, will no longer be capitalized and instead will be expensed as incurred. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2018, and for interim periods within those annual periods, with early adoption permitted, and requires the use of the modified retrospective transition method. The Company does not anticipate significant changes in the accounting for our residential operating leases for which we are the lessor, as our leases generally do not have terms of more than one year. As part of our operations, we lease office space for our corporate and property management offices under non-cancelable operating lease agreements for which we are the lessee. We anticipate that the adoption of this guidance will require us to recognize a right-of-use asset and corresponding lease liability for these office leases. The Company is currently assessing the impact of the adoption of this guidance on our financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , which amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2017, and for interim periods within those annual periods. The Company adopted this guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides guidance on revenue recognition and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, most industry-specific guidance and some cost guidance included in Subtopic 605-35, “ Revenue Recognition-Construction-Type and Production-Type Contracts .” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These judgments include identifying “distinct” performance obligations in multi-element contracts, estimating the amount of variable consideration to include in the transaction price at contract inception, allocating the transaction price to each separate performance obligation, and determining at contract inception whether the performance obligation is satisfied over time or at a point in time. Since lease contracts under ASC 840, "Leases" , are specifically excluded from ASU No. 2014-09’s scope, most of the Company’s rental contract revenue will continue to follow current leasing guidance. We have reviewed our other sources of revenue and identified that the non-lease components (tenant chargebacks and recovery revenue) in our single-family home and office leases will continue being accounted for under ASC 840 until the adoption of ASU 2016-02 beginning January 1, 2019. Based on our assessment, the Company’s current accounting policies for these non-lease components are aligned with the revenue recognition principles prescribed by the new guidance. Therefore, the new standard did not ultimately change the amount or timing of our revenue recognition. As part of ASU No. 2014-09, the FASB issued consequential amendments to other sections, eliminating ASC 360-20, Real Estate Sales and adding ASU No. 2017-05 Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets , Subtopic 610-20, "Other Income" . Real estate sales to noncustomers will follow new guidance from ASC 610-20, while sales to customers will follow the general revenue guidance in ASC 606. While the Company’s property sales are not part of our ordinary customer activity and will fall under ASC 610-20, there is little economic difference in the accounting for real estate sales to customers versus noncustomers, with the exception of the presentation of comprehensive income (revenue and expense when sales to customers or gains and losses when sales to noncustomers). The Company adopted the new revenue recognition guidance using the modified retrospective approach, effective January 1, 2018. We evaluated the revenue recognition for our contracts under existing accounting standards and under the new revenue recognition ASU and determined that there were no differences in the amounts or timing of recognition. Therefore, the adoption of this ASU did not result in an adjustment to our retained earnings on January 1, 2018. In February 2018, the FASB issued ASU No. 2018-03, Recognition and Measurement of Financial Assets and Financial Liabilities , which retained the current framework for accounting for financial instruments in GAAP but made targeted improvements to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance will be effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. The Company is currently assessing the impact of the guidance on our financial statements.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all demand deposits, cashier's checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation ("FDIC") insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant. Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument. The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company's and the Operating Partnership's condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets as of March 31, 2018 and 2017 : March 31, 2018 March 31, 2017 Balance Sheet: Cash and cash equivalents $ 203,883 $ 495,802 Restricted cash 156,272 135,057 Statement of Cash Flows: Cash, cash equivalents and restricted cash $ 360,155 $ 630,859

Single-Family Properties

Single-Family Properties	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Single-Family Properties	Single-Family Properties Single-family properties, net, consisted of the following as of March 31, 2018 , and December 31, 2017 (in thousands, except property data): March 31, 2018 Number of Net book Leased single-family properties 47,677 $ 7,455,093 Single-family properties being renovated 503 124,233 Single-family properties being prepared for re-lease 289 37,630 Vacant single-family properties available for lease 1,479 262,429 Single-family properties held for sale, net 1,318 201,693 Single-family properties identified for future sale 574 88,002 Total 51,840 $ 8,169,080 December 31, 2017 Number of Net book Leased single-family properties 46,996 $ 7,284,708 Single-family properties being renovated 980 225,194 Single-family properties being prepared for re-lease 372 47,994 Vacant single-family properties available for lease 2,581 471,281 Single-family properties held for sale, net 310 35,803 Total 51,239 $ 8,064,980 Single-family properties, net as of March 31, 2018 , and December 31, 2017 , included $4.7 million and $44.2 million , respectively, related to properties for which the recorded grant deed had 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 was a delay for the deeds to be recorded. Depreciation expense related to single-family properties was $75.4 million and $68.7 million for the three months ended March 31, 2018 and 2017 , respectively. During the three months ended March 31, 2018 , the Company sold 103 homes, which generated total net proceeds of $11.5 million and resulted in a net gain on sale of $2.1 million , and sold land, which generated total net proceeds of $0.5 million and resulted in a net gain on sale of $0.1 million . During the three months ended March 31, 2017 , the Company sold 504 homes, which generated total net proceeds of $24.0 million , which includes a $7.0 million note receivable, before a $1.5 million discount, and resulted in a net loss on sale of $1.0 million .

Rent and Other Receivables, Net

Rent and Other Receivables, Net	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Rent and Other Receivables, Net	Rent and Other Receivables, Net Included in rent and other receivables, net is an allowance for doubtful accounts of $10.8 million and $10.4 million as of March 31, 2018 , and December 31, 2017 , respectively. Also included in rent and other receivables, net, is $4.9 million of hurricane-related insurance claims receivable and $0.2 million of non-tenant receivables as of March 31, 2018 , compared to $8.9 million of hurricane-related insurance claims receivable and $1.2 million of non-tenant receivables as of December 31, 2017 .

Escrow Deposits, Prepaid Expens

Escrow Deposits, Prepaid Expenses and Other Assets	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow Deposits, Prepaid Expenses and Other Assets	Escrow Deposits, Prepaid Expenses and Other Assets The following table summarizes escrow deposits, prepaid expenses and other assets as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Escrow deposits, prepaid expenses and other $ 49,628 $ 33,964 Investments in joint ventures 41,425 42,341 Commercial real estate, vehicles and FF&E, net 45,168 43,608 Land held for development 70,023 39,079 Homebuilding construction in progress 35,463 12,859 Total $ 241,707 $ 171,851

Deferred Costs and Other Intang

Deferred Costs and Other Intangibles, Net	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs and Other Intangibles, Net	Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Deferred leasing costs $ 9,753 $ 7,030 Deferred financing costs 11,244 11,244 Intangible assets: Value of in-place leases 179 179 Trademark — 3,100 Database 2,100 2,100 23,276 23,653 Less: accumulated amortization (10,245 ) (10,628 ) Total $ 13,031 $ 13,025 Amortization expense related to deferred leasing costs, the value of in-place leases, trademark and database was $2.2 million and $2.9 million for the three months ended March 31, 2018 and 2017 , respectively, which has been included in depreciation and amortization within the condensed consolidated statements of operations. Deferred financing costs that relate to our revolving credit facility are included in deferred costs and other intangibles, net within the condensed consolidated balance sheets. Amortization of deferred financing costs that relate to our revolving credit facility was $0.5 million and $0.4 million for the three months ended March 31, 2018 and 2017 , respectively, which has been included in gross interest, prior to interest capitalization (see Note 8 ). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of March 31, 2018 , for future periods (in thousands): Year Deferred Deferred Value of Database Remaining 2018 $ 3,751 $ 1,479 $ 6 $ 225 2019 272 1,964 2 300 2020 — 1,969 — 132 2021 — 1,964 — — 2022 — 967 — — Total $ 4,023 $ 8,343 $ 8 $ 657

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt All of the Company's indebtedness is debt of the Operating Partnership. AH4R is not directly obligated under any indebtedness, but guarantees some of the debt of the Operating Partnership. The following table presents the Company’s debt as of March 31, 2018 , and December 31, 2017 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date March 31, 2018 December 31, 2017 AH4R 2014-SFR2 securitization 4.42% October 9, 2024 $ 495,043 $ 496,326 AH4R 2014-SFR3 securitization 4.40% December 9, 2024 510,721 512,041 AH4R 2015-SFR1 securitization (2) 4.14% April 9, 2045 536,341 537,723 AH4R 2015-SFR2 securitization (3) 4.36% October 9, 2045 465,940 467,267 Total asset-backed securitizations 2,008,045 2,013,357 Unsecured senior notes (4) 4.08% February 15, 2028 500,000 — Exchangeable senior notes 3.25% November 15, 2018 115,000 115,000 Secured note payable 4.06% July 1, 2019 48,604 48,859 Revolving credit facility (5) 3.08% June 30, 2022 — 140,000 Term loan facility (6) 3.23% June 30, 2022 200,000 200,000 Total debt (7) 2,871,649 2,517,216 Unamortized discounts on unsecured and exchangeable senior notes (3,412 ) (895 ) Equity component of exchangeable senior notes (1,746 ) (2,408 ) Deferred financing costs, net (8) (41,634 ) (38,026 ) Total debt per balance sheet $ 2,824,857 $ 2,475,887 (1) Interest rates are as of March 31, 2018 . Unless otherwise stated, interest rates are fixed percentages. (2) The AH4R 2015-SFR1 securitization has a maturity date of April 9, 2045, with an anticipated repayment date of April 9, 2025. (3) The AH4R 2015-SFR2 securitization has a maturity date of October 9, 2045, with an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the unsecured senior notes is 4.25% , which was effectively hedged to yield an interest rate of 4.08% . (5) The revolving credit facility provides for a borrowing capacity of up to $800.0 million , with a fully extended maturity date of June 2022, and bears interest at a LIBOR rate plus a margin ranging from 0.825% to 1.55% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.55% . The interest rate stated represents the applicable spread for LIBOR based borrowings as of March 31, 2018 , plus 1-month LIBOR. (6) The term loan facility provides for a borrowing capacity of up to $200.0 million , with a maturity date of June 2022, and bears interest at a LIBOR rate plus a margin ranging from 0.90% to 1.75% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.75% . The interest rate stated represents the applicable spread for LIBOR based borrowings as of March 31, 2018 , plus 1-month LIBOR. (7) The Company was in compliance with all debt covenants associated with its asset-backed securitizations, unsecured senior notes, secured note payable, revolving credit facility and term loan facility as of March 31, 2018 , and December 31, 2017 . (8) Deferred financing costs relate to our asset-backed securitizations, term loan facility and unsecured senior notes. Amortization of deferred financing costs was $1.4 million and $2.2 million for the three months ended March 31, 2018 and 2017 , respectively, which has been included in gross interest, prior to interest capitalization. Debt Maturities The following table summarizes the contractual maturities of the Company's debt on a fully extended basis as of March 31, 2018 (in thousands): Remaining 2018 $ 131,290 2019 68,564 2020 20,714 2021 20,714 2022 220,714 Thereafter 2,409,653 Total debt 2,871,649 Unamortized discounts and deferred financing costs (1) (46,792 ) Total debt per balance sheet $ 2,824,857 (1) Includes the unamortized discounts on the unsecured and exchangeable senior notes, the equity component of the exchangeable senior notes and deferred financing costs, net. Unsecured Senior Notes In February 2018, the Operating Partnership issued $500.0 million of 4.25% unsecured senior notes with a maturity date of February 15, 2028 (the "2028 Notes"). Interest on the 2028 Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2018. The Operating Partnership received net proceeds of $494.0 million from this issuance, after underwriting fees of approximately $3.2 million and a $2.8 million discount, and before estimated offering costs of $1.8 million . The Operating Partnership intends to use the net proceeds from this issuance for general corporate purposes, including, without limitation, acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or improvement of our properties, working capital and other general purposes, including repurchases of securities. The 2028 Notes are the Operating Partnership's unsecured and unsubordinated obligation and rank equally in right of payment with all of the Operating Partnership’s existing and future unsecured and unsubordinated indebtedness. The Operating Partnership may redeem the 2028 Notes at any time, in whole or in part, at the applicable redemption price specified in the Indenture with respect to the 2028 Notes. If the 2028 Notes are redeemed on or after November 15, 2027 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2028 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. The 2028 Notes have been initially guaranteed by American Residential Properties OP, L.P., (the “Guarantor Subsidiary”), a 100% owned subsidiary of the Operating Partnership, but such guarantee will be automatically released at the time that the Guarantor Subsidiary no longer guarantees our credit facility. Including the effect of a cash flow hedging instrument settled in February 2018 (see Note 13), the 2028 Notes yield an effective interest rate of 4.08% . Exchangeable Senior Notes, Net The exchangeable senior notes, which were assumed in connection with the Company's merger (the "ARPI Merger") with American Residential Properties, Inc. ("ARPI") during 2016, contain an exchange settlement feature, which provides that the exchangeable senior notes may, under certain circumstances, be exchangeable for cash, our Class A common shares or a combination of cash and our Class A common shares, at the option of the Operating Partnership, based on an initial exchange rate of 46.9423 shares of ARPI's common stock per $1,000 principal amount of the notes. Settlements for cash will be paid for by the Operating Partnership, while settlements for the Company's Class A common shares will be issued by AH4R with the Operating Partnership issuing an equivalent number of Class A units to AH4R. The adjusted initial exchange rate would be 53.2795 of our Class A common shares per $1,000 principal amount of the notes, based on the 1.135 exchange ratio of ARPI shares to our shares resulting from the ARPI Merger. The current exchange rate as of March 31, 2018 , was 55.4118 of the Company's Class A common shares per $1,000 principal amount of the notes. The exchange rate is adjusted based on the Company's Class A common share price and distributions to common shareholders. Interest Expense The following table displays our total gross interest, which includes unused commitment and other fees on our credit facilities and amortization of deferred financing costs, the discounts on senior notes and the fair value of the exchange settlement feature of the exchangeable senior notes, and capitalized interest for the three months ended March 31, 2018 and 2017 (in thousands): For the Three Months Ended March 31, 2018 March 31, 2017 Gross interest $ 31,737 $ 32,492 Capitalized interest (2,436 ) (603 ) Interest expense $ 29,301 $ 31,889

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses The following table summarizes accounts payable and accrued expenses as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Accounts payable $ 272 $ 1,726 Accrued property taxes 67,190 47,765 Other accrued liabilities 37,023 31,788 Accrued distribution payable 27,006 26,982 Accrued construction and maintenance liabilities 29,173 17,928 Resident security deposits 80,156 75,951 Prepaid rent 21,447 20,727 Total $ 262,267 $ 222,867

Shareholders' Equity _ Partners

Shareholders' Equity / Partners' Capital	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Shareholders' Equity / Partners' Capital	Shareholders’ Equity / Partners' Capital When the Company issues common or preferred shares, the Operating Partnership issues an equivalent number of units of partnership interest of a corresponding class to AH4R, with the Operating Partnership receiving the net proceeds from the share issuances. At-the-Market Common Share Offering Program In November 2016, the Company established an at-the-market common share offering program under which we were able to issue Class A common shares from time to time through various sales agents up to an aggregate of $400.0 million (the "Original At-the-Market Program"). The program was established in order to use the net proceeds from share issuances to repay borrowings against the Company’s revolving credit and term loan facilities, to acquire and renovate single-family properties and for related activities in accordance with the Company’s business strategy, and for working capital and general corporate purposes. The program may be suspended or terminated by the Company at any time. During the three months ended March 31, 2017 , the Company issued and sold 0.6 million Class A common shares under the Original At-the-Market Program for gross proceeds of $14.3 million , or $22.72 per share, and net proceeds of $14.1 million , after commissions and other expenses of approximately $0.2 million . The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the share issuances. The Original At-the-Market Program was replaced in August 2017 with an at-the-market common share offering program with a $500.0 million capacity with the same terms (the "At-the-Market Program"). As of March 31, 2018 , no shares have been issued under the At-the-Market Program and $500.0 million remained available for future share issuances. Share Repurchase Program In February 2018, the Company's board of trustees re-authorized our existing share repurchase program, authorizing the repurchase of up to $300.0 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares from time to time in the open market or in privately negotiated transactions. The program does not have an expiration date, but may be suspended or discontinued at any time without notice. All repurchased shares are constructively retired and returned to an authorized and unissued status. The Operating Partnership funds the repurchases and constructively retires an equivalent number of corresponding Class A units. During the three months ended March 31, 2018 , the Company repurchased and retired 1.8 million of our Class A common shares on a settlement date basis, in accordance with the program, at a weighted-average price of $19.36 per share and a total price of $34.9 million . We did not repurchase and retire any of our shares during the three months ended March 31, 2017 . As of March 31, 2018 , we had a remaining repurchase authorization of up to $265.1 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares under the program. As of March 31, 2018 , and December 31, 2017 , the Company had the following series of preferred shares outstanding (in thousands, except share data): March 31, 2018 December 31, 2017 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value (1) Outstanding Shares Current Liquidation Value (1) Series C participating preferred shares (2) 5/2/2014 3/31/2018 5.500 % 7,600,000 $ 219,238 7,600,000 $ 218,236 Series D perpetual preferred shares 5/24/2016 5/24/2021 6.500 % 10,750,000 268,750 10,750,000 268,750 Series E perpetual preferred shares 6/29/2016 6/29/2021 6.350 % 9,200,000 230,000 9,200,000 230,000 Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % 6,200,000 155,000 6,200,000 155,000 Series G perpetual preferred shares 7/17/2017 7/17/2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 38,350,000 $ 987,988 38,350,000 $ 986,986 (1) Liquidation value for the Series C participating preferred shares reflects initial liquidation value of $25.00 per share, adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets (2) All of the outstanding Series C participating preferred shares were converted into 10,848,827 Class A common shares on April 5, 2018 , based on a conversion ratio of 1.4275 common shares per preferred share in accordance with the conversion terms in the Articles Supplementary. Redemption of Series C Participating Preferred Shares On April 5, 2018 , the Company redeemed all 7,600,000 shares of the outstanding 5.5% Series C participating preferred shares through a conversion of those participating preferred shares into Class A common shares of beneficial interest, $0.01 par value, in accordance with the conversion terms in the Articles Supplementary. This resulted in 10,848,827 Class A common shares issued from the conversion, based on a conversion ratio of 1.4275 Class A common shares issued per Series C participating preferred share. The Operating Partnership also redeemed its corresponding Series C participating preferred units through a conversion into Class A units on April 5, 2018 . The conversion ratio was calculated by dividing (1) the initial liquidation preference on the Series C participating preferred shares, as adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets (adjusted for a maximum 9.0% internal rate of return), plus unaccrued dividends by (2) the one-day volume weighted-average price (“VWAP”) of the Company’s Class A common shares on March 29, 2018, the date the Company delivered the required notice of redemption. As a result of the redemption, the Company will record a $32.2 million allocation of income to the Series C participating preferred shareholders in the second quarter of 2018, which represents the initial liquidation value of the Series C participating preferred shares in excess of the original equity carrying value of the Series C participating preferred shares as of the redemption date. The original equity carrying value of the Series C participating preferred shares was net of the initial bifurcated home price appreciation derivative liability and offering costs. Distributions During the quarter ended March 31, 2018 , the Company's board of trustees declared distributions that totaled $0.05 per share on the Company's Class A and Class B common shares, $0.34 on the Company's 5.5% Series C participating preferred shares, $0.41 on the Company's 6.5% Series D perpetual preferred shares, $0.40 on the Company's 6.35% Series E perpetual preferred shares, $0.37 on the Company's 5.875% Series F perpetual preferred shares and $0.37 on the Company's 5.875% Series G perpetual preferred shares. During the quarter ended March 31, 2017 , the Company's board of trustees declared distributions that totaled $0.05 per share on the Company's Class A and Class B common shares, $0.31 on the Company's 5.0% Series A participating preferred shares, $0.31 on the Company's 5.0% Series B participating preferred shares, $0.34 on the Company's 5.5% Series C participating preferred shares, $0.41 on the Company's 6.5% Series D perpetual preferred shares and $0.40 on the Company's 6.35% Series E perpetual preferred shares. The Operating Partnership funds the payment of distributions, and an equivalent amount of distributions were declared on the corresponding Operating Partnership units. Noncontrolling Interest Noncontrolling interest as reflected in the Company’s condensed consolidated balance sheets primarily consists of the interests held by former American Homes 4 Rent, LLC ("AH LLC") members in units in the Operating Partnership. Former AH LLC members owned 54,276,644 , or approximately 16.0% and 15.9% , of the total 340,354,889 and 342,099,865 Class A units in the Operating Partnership as of March 31, 2018 , and December 31, 2017 , respectively. Noncontrolling interest also includes interests held by non-affiliates in Class A units in the Operating Partnership. Non-affiliate Class A unitholders owned 1,073,509 , or approximately 0.3% of the total 340,354,889 and 342,099,865 Class A units in the Operating Partnership as of March 31, 2018 , and December 31, 2017 , respectively. Also included in noncontrolling interest is the outside ownership interest in a consolidated subsidiary of the Operating Partnership. The following table summarizes the income or loss allocated to noncontrolling interests as reflected in the Company's condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 (in thousands): For the Three Months Ended March 31, 2018 March 31, 2017 Net income (loss) allocated to Class A units $ 1,125 $ (339 ) Net (loss) income allocated to noncontrolling interest in a consolidated subsidiary (11 ) 38 $ 1,114 $ (301 ) Noncontrolling interest as reflected in the Operating Partnership's condensed consolidated balance sheets consists solely of the outside ownership interest in a consolidated subsidiary of the Operating Partnership. Income and loss allocated to the Operating Partnership's noncontrolling interest is reflected in noncontrolling interest within the Operating Partnership's condensed consolidated statements of operations. The Operating Partnership units owned by former AH LLC members and non-affiliates that are reflected as noncontrolling interest in the Company's condensed consolidated balance sheets are reflected as limited partner capital in the Operating Partnership's condensed consolidated balance sheets. 2012 Equity Incentive Plan The Company's employees are compensated through the Operating Partnership, including share-based compensation. When the Company issues Class A common shares under the 2012 Equity Incentive Plan (the "Plan"), the Operating Partnership issues an equivalent number of Class A units to AH4R. During the three months ended March 31, 2018 and 2017 , the Company granted stock options for 140,000 and 385,200 Class A common shares, respectively, and 304,400 and 174,000 restricted stock units, respectively, to certain employees of the Company under the Plan. The options and restricted stock units granted during the three months ended March 31, 2018 and 2017 , vest over four years, and the options expire 10 years from the date of grant. The following table summarizes stock option activity under the Plan for the three months ended March 31, 2018 and 2017 : Shares Weighted- Weighted- Aggregate Options outstanding at January 1, 2017 2,826,500 $ 15.69 7.6 $ 14,956 Granted 385,200 23.38 Exercised (16,000 ) 16.07 117 Forfeited (5,000 ) 16.48 Options outstanding at March 31, 2017 3,190,700 $ 16.62 7.7 $ 20,404 Options exercisable at March 31, 2017 1,660,750 $ 15.84 6.9 $ 11,824 Options outstanding at January 1, 2018 3,052,450 $ 16.65 6.9 $ 16,421 Granted 140,000 19.40 Exercised (7,500 ) 16.62 22 Forfeited (10,000 ) 17.83 Options outstanding at March 31, 2018 3,174,950 $ 16.76 6.7 $ 11,748 Options exercisable at March 31, 2018 2,272,675 $ 16.16 6.1 $ 9,213 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise. The following table summarizes the Black-Scholes Option Pricing Model inputs used for valuation of the stock options for Class A common shares granted during the three months ended March 31, 2018 and 2017 : 2018 2017 Weighted-average fair value $ 3.03 $ 3.82 Expected term (years) 7.0 7.0 Dividend yield 3.0 % 3.0 % Volatility 18.9 % 21.3 % Risk-free interest rate 2.8 % 2.2 % The following table summarizes the activity that relates to the Company’s restricted stock units under the Plan for the three months ended March 31, 2018 and 2017 : 2018 2017 Restricted stock units at beginning of period 243,875 130,150 Units awarded 304,400 174,000 Units vested (79,525 ) (41,975 ) Units forfeited (5,625 ) (1,750 ) Restricted stock units at end of period 463,125 260,425 For the three months ended March 31, 2018 and 2017 , total non-cash share-based compensation expense related to stock options and restricted stock units was $1.0 million and $0.9 million , respectively, of which $0.6 million and $0.5 million , respectively, related to corporate administrative employees and was included in general and administrative expense and $0.4 million related to centralized and field property management employees and was included in property management expenses within the condensed consolidated statements of operations.

Earnings per Share _ Unit

Earnings per Share / Unit	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share / Unit	Earnings per Share / Unit American Homes 4 Rent The following table reflects the Company's computation of net income or loss per common share on a basic and diluted basis for the three months ended March 31, 2018 and 2017 (in thousands, except share and per share data): For the Three Months Ended 2018 2017 Numerator: Net income $ 21,525 $ 11,796 Less: Noncontrolling interest 1,114 (301 ) Dividends on preferred shares 14,597 13,587 Allocation to participating securities (1) 23 — Numerator for income (loss) per common share—basic and diluted $ 5,791 $ (1,490 ) Denominator: Weighted-average common shares outstanding—basic 286,183,429 244,391,368 Effect of dilutive securities: Share-based compensation plan (2) 544,434 — Weighted-average common shares outstanding—diluted (3) 286,727,863 244,391,368 Net income (loss) per common share: Basic $ 0.02 $ (0.01 ) Diluted $ 0.02 $ (0.01 ) (1) Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options. (3) The computation of diluted earnings per share for the three months ended March 31, 2018 and 2017 , excludes an aggregate of 17,221,189 and 27,790,165 potentially dilutive securities, respectively, which include a combination of participating preferred shares, exchangeable senior notes, common shares issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods. The effect of the potential conversion of OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share. American Homes 4 Rent, L.P. The following table reflects the Operating Partnership's computation of net income or loss per common unit on a basic and diluted basis for the three months ended March 31, 2018 and 2017 (in thousands, except unit and per unit data): For the Three Months Ended 2018 2017 Numerator: Net income $ 21,525 $ 11,796 Less: Noncontrolling interest (11 ) 38 Preferred distributions 14,597 13,587 Allocation to participating securities (1) 23 — Numerator for income (loss) per common unit—basic and diluted $ 6,916 $ (1,829 ) Denominator: Weighted-average common units outstanding—basic 341,533,582 299,947,328 Effect of dilutive securities: Share-based compensation plan (2) 544,434 — Weighted-average common units outstanding—diluted (3) 342,078,016 299,947,328 Net income (loss) per common unit: Basic $ 0.02 $ (0.01 ) Diluted $ 0.02 $ (0.01 ) (1) Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options. (3) The computation of diluted earnings per unit for the three months ended March 31, 2018 and 2017 , excludes an aggregate of 17,221,189 and 27,790,165 potentially dilutive securities, respectively, which include a combination of participating preferred units, exchangeable senior notes, common units issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of March 31, 2018 , the Company had commitments to acquire 219 single-family properties for an aggregate purchase price of $58.6 million , as well as $42.4 million in land purchase commitments that relate to both third party developer agreements and our internal construction program. As of December 31, 2017 , the Company had commitments to acquire 520 single-family properties for an aggregate purchase price of $128.1 million , as well as $24.0 million in land purchase commitments that relate to both third party developer agreements and our internal construction program. As of March 31, 2018 , and December 31, 2017 , the Company had sales in escrow for approximately 36 and 69 of our single-family properties, respectively, for aggregate selling prices of $5.1 million and $7.0 million , respectively. We are involved in various legal and administrative proceedings that are incidental to our business. We do not believe these matters will have a material adverse effect on our financial position or results of operations upon resolution. Radian Group Inc. (“Radian”), the indirect parent company of Green River Capital LLC (“GRC”), which has been a service provider that provided certain broker price opinions (“BPO”) to us, disclosed in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2017, that GRC had received a letter in March 2017 from the staff of the SEC stating that it is conducting an investigation captioned “In the Matter of Certain Single Family Rental Securitizations” and requesting information from market participants. Radian disclosed that the letter asked GRC to provide information regarding BPOs that GRC provided on properties included in single family rental securitization transactions (“Securitizations”). On September 13, 2017, we received a letter from the staff of the SEC stating that it is conducting an investigation captioned “In the Matter of Certain Single Family Rental Securitizations.” The letter enclosed a subpoena that requests the production of certain documents and communications related to our Securitizations, including, without limitation, those related to BPOs provided by GRC on properties included in Securitizations. The letter does not allege any violation of law and we are cooperating with the SEC. We understand that other transaction parties in Securitizations have received requests in this matter. We do not believe this matter will have a material adverse impact on our financial position or results of operations upon resolution. On January 16, 2018, we received a letter from the staff of the SEC stating that it is conducting an investigation captioned “Trading in Silver Bay Realty Trust Corp.” The letter enclosed a subpoena that requests us to produce certain documents and communications, including those related to our communications and agreements with Silver Bay Realty Trust Corp. (“Silver Bay”), communications with Silver Bay’s financial advisor, and our purchases, sales and holdings of Silver Bay stock. We purchased Silver Bay stock in 2016 and 2017 and then sold all of our holdings in 2017 for a profit of approximately $3.0 million . We intend to cooperate fully with the SEC in connection with this matter. We do not believe this matter will have a material adverse impact on our financial position or results of operations upon resolution.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The carrying amount of rents and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. The Company’s participating preferred shares derivative liability is the only financial instrument recorded at fair value on a recurring basis in the consolidated financial statements as of March 31, 2018. Our revolving credit facility, term loan facility, asset-backed securitizations and secured note payable are also financial instruments, which are classified as Level 3 in the fair value hierarchy as they were estimated by using unobservable inputs. We estimated their fair values by modeling the contractual cash flows required under the instruments and discounting them back to their present values using estimates of current market rates. Our unsecured senior notes and exchangeable senior notes are also financial instruments, which are classified as Level 2 in the fair value hierarchy as their fair values are estimated using observable inputs, based on the market value of the last trade at the end of the period. The following table displays the carrying values and fair values of our debt instruments as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 495,043 $ 500,863 $ 496,326 $ 504,730 AH4R 2014-SFR3 securitization 510,721 518,292 512,041 521,252 AH4R 2015-SFR1 securitization 536,341 541,689 537,723 544,592 AH4R 2015-SFR2 securitization 465,940 472,594 467,267 475,832 Total asset-backed securitizations (1) 2,008,045 2,033,438 2,013,357 2,046,406 Unsecured senior notes, net (1) (2) 497,245 491,395 — — Exchangeable senior notes, net (2) 112,597 131,968 111,697 147,462 Secured note payable 48,604 48,652 48,859 49,027 Revolving credit facility (1) (3) — — 140,000 140,000 Term loan facility (1) (4) 200,000 200,000 200,000 200,000 Total debt $ 2,866,491 $ 2,905,453 $ 2,513,913 $ 2,582,895 (1) The carrying values of the asset-backed securitizations, unsecured senior notes, revolving credit facility and term loan facility exclude $34.8 million , $5.0 million , $8.3 million and $1.9 million , respectively, of unamortized deferred financing costs as of March 31, 2018 , and exclude $36.0 million , zero , $8.8 million and $2.0 million , respectively, of unamortized deferred financing costs as of December 31, 2017 . (2) The carrying values of the unsecured senior notes, net and exchangeable senior notes, net are presented net of unamortized discounts. (3) As our revolving credit facility bears interest at a floating rate based on an index plus a spread, which is a LIBOR rate plus a margin ranging from 0.825% to 1.55% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.55% , management believes that the carrying value of the revolving credit facility reasonably approximates fair value. (4) As our term loan facility bears interest at a floating rate based on an index plus a spread, which is a LIBOR rate plus a margin ranging from 0.90% to 1.75% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.75% , management believes that the carrying value of the term loan facility reasonably approximates fair value. Valuation of the participating preferred shares derivative liability considers scenarios in which the participating preferred shares would be redeemed or converted into Class A common shares by the Company and the subsequent payoffs under those scenarios. The valuation also considers certain variables such as the risk-free rate matching the assumed timing of either redemption or conversion, volatility of the underlying home price appreciation index, dividend payments, conversion rates, the assumed timing of either redemption or conversion and an assumed drift factor in home price appreciation across certain metropolitan statistical areas, or MSAs, as outlined in the agreement. The Series C participating preferred shares were redeemed through a conversion into Class A common shares on April 5, 2018, and the related participating preferred shares derivative liability was therefore remeasured based on the actual liquidation value at March 31, 2018 (see Note 10). In October 2017, in anticipation of the issuance of the 2028 Notes and in order to hedge interest rate risk, the Operating Partnership entered into a treasury lock agreement on a notional amount of $350.0 million , based on the 10 -year treasury note rate at the time. The treasury lock was designated as a cash flow hedging instrument and had a fair value of $0.1 million as of December 31, 2017, which was included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets, with a corresponding unrealized gain reflected in other comprehensive income. The treasury lock was settled upon the issuance of the 2028 Notes in February 2018 and resulted in a $9.6 million gain that was recorded in other comprehensive income and will be reclassified into earnings as a reduction of interest expense over the term of the 2028 Notes. The treasury lock is classified as Level 2 within the fair value hierarchy as its fair value was estimated using observable inputs, based on the 10-year treasury note rate. The following tables set forth the fair values of the participating preferred shares derivative liability and treasury lock as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 Description Quoted Prices Significant Significant Total Liabilities: Participating preferred shares derivative liability $ — $ — $ 28,258 $ 28,258 December 31, 2017 Description Quoted Prices Significant Significant Total Assets: Treasury lock $ — $ 75 $ — $ 75 Liabilities: Participating preferred shares derivative liability $ — $ — $ 29,470 $ 29,470 The following tables present changes in the fair values of our Level 3 financial instruments that are measured on a recurring basis with changes in fair value recognized in remeasurement of participating preferred shares within the condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 (in thousands): Description January 1, 2018 Remeasurement included in earnings March 31, 2018 Liabilities: Participating preferred shares derivative liability $ 29,470 $ (1,212 ) $ 28,258 Description January 1, 2017 Remeasurement included in earnings March 31, 2017 Liabilities: Participating preferred shares derivative liability $ 69,810 $ 5,410 $ 75,220

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements American Homes 4 Rent, L.P. The 2028 Notes issued by American Homes 4 Rent, L.P. (the “Parent Company”) have been initially guaranteed by American Residential Properties OP, L.P. (the “Guarantor Subsidiary”), a 100% owned subsidiary of the Parent Company, but such guarantee will be automatically released at the time that the Subsidiary Guarantor no longer guarantees our credit facility. The Parent Company’s other subsidiaries, including, but not limited to, the subsidiaries that own substantially all of our properties (collectively, the “Combined Non-Guarantor Subsidiaries”), have not provided a guarantee of the 2028 Notes. Pursuant to Rule 3-10 of Regulation S-X, the following condensed consolidating financial information is provided for the Operating Partnership, including the Parent Company, the Guarantor Subsidiary and the Combined Non-Guarantor Subsidiaries. This summarized financial information may not necessarily be indicative of the results of operations or financial position had the Parent Company, the Guarantor Subsidiary or the Combined Non-Guarantor Subsidiaries operated as independent entities. All intercompany balances and transactions between the Parent Company, the Guarantor Subsidiary and the Non-Guarantor Subsidiaries have been eliminated as shown in the “Consolidating Adjustments” column. All assets and liabilities have been allocated to the Parent Company, the Guarantor Subsidiary and the Combined Non-Guarantor Subsidiaries based on legal entity ownership. Condensed Consolidating Balance Sheets (Amounts in thousands) As of March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Assets Single-family properties, net $ — $ 934 $ 8,168,146 $ — $ 8,169,080 Cash and cash equivalents 174,161 — 29,722 — 203,883 Restricted cash 29,071 30 127,171 — 156,272 Rent and other receivables, net 147 3 27,965 — 28,115 Intercompany receivables 218,777 — — (218,777 ) — Escrow deposits, prepaid expenses and other assets, including due from affiliates 58,483 163 208,727 — 267,373 Investments in subsidiaries 5,979,193 116,533 — (6,095,726 ) — Deferred costs and other intangibles, net 9,001 — 4,030 — 13,031 Goodwill 120,279 — — — 120,279 Total assets $ 6,589,112 $ 117,663 $ 8,565,761 $ (6,314,503 ) $ 8,958,033 Liabilities Revolving credit facility $ — $ — $ — $ — $ — Term loan facility, net 198,132 — — — 198,132 Asset-backed securitizations, net — — 1,973,242 — 1,973,242 Unsecured senior notes, net 492,282 — — — 492,282 Exchangeable senior notes, net — 112,597 — — 112,597 Secured note payable — — 48,604 — 48,604 Accounts payable and accrued expenses 33,399 3,661 225,207 — 262,267 Amounts payable to affiliates 2,001 — — — 2,001 Intercompany payables — 8,391 210,386 (218,777 ) — Participating preferred units derivative liability 28,258 — — — 28,258 Total liabilities 754,072 124,649 2,457,439 (218,777 ) 3,117,383 Capital Partners' capital: General partner: Common units 4,198,313 (6,986 ) 6,109,682 (6,095,726 ) 4,205,283 Preferred units 901,318 — — — 901,318 Limited partner: Common units 725,901 — — — 725,901 Accumulated other comprehensive income 9,508 — — — 9,508 Total partners' capital: 5,835,040 (6,986 ) 6,109,682 (6,095,726 ) 5,842,010 Noncontrolling interest — — (1,360 ) — (1,360 ) Total capital 5,835,040 (6,986 ) 6,108,322 (6,095,726 ) 5,840,650 Total liabilities and capital $ 6,589,112 $ 117,663 $ 8,565,761 $ (6,314,503 ) $ 8,958,033 Condensed Consolidating Balance Sheets (continued) (Amounts in thousands) As of December 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Assets Single-family properties, net $ — $ 1,732 $ 8,063,248 $ — $ 8,064,980 Cash and cash equivalents 22,157 — 23,999 — 46,156 Restricted cash 14,742 31 121,894 — 136,667 Rent and other receivables, net 114 57 29,973 — 30,144 Intercompany receivables 154,621 — — (154,621 ) — Escrow deposits, prepaid expenses and other assets, including due from affiliates 59,271 164 138,082 — 197,517 Investments in subsidiaries 5,889,146 115,303 — (6,004,449 ) — Deferred costs and other intangibles, net 9,652 — 3,373 — 13,025 Goodwill 120,279 — — — 120,279 Total assets $ 6,269,982 $ 117,287 $ 8,380,569 $ (6,159,070 ) $ 8,608,768 Liabilities Revolving credit facility $ 140,000 $ — $ — $ — $ 140,000 Term loan facility, net 198,023 — — — 198,023 Asset-backed securitizations, net — — 1,977,308 — 1,977,308 Exchangeable senior notes, net — 111,697 — — 111,697 Secured note payable — — 48,859 — 48,859 Accounts payable and accrued expenses 27,566 2,757 192,544 — 222,867 Amounts payable to affiliates 4,720 — — — 4,720 Intercompany payables — 8,428 146,193 (154,621 ) — Participating preferred units derivative liability 29,470 — — — 29,470 Total liabilities 399,779 122,882 2,364,904 (154,621 ) 2,732,944 Capital Partners' capital: General partner: Common units 4,241,266 (5,595 ) 6,017,014 (6,004,449 ) 4,248,236 Preferred units 901,318 — — — 901,318 Limited partner: Common units 727,544 — — — 727,544 Accumulated other comprehensive income 75 — — — 75 Total partners' capital: 5,870,203 (5,595 ) 6,017,014 (6,004,449 ) 5,877,173 Noncontrolling interest — — (1,349 ) — (1,349 ) Total capital 5,870,203 (5,595 ) 6,015,665 (6,004,449 ) 5,875,824 Total liabilities and capital $ 6,269,982 $ 117,287 $ 8,380,569 $ (6,159,070 ) $ 8,608,768 Condensed Consolidating Statements of Operations (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Revenues: Rents from single-family properties $ — $ 22 $ 218,001 $ — $ 218,023 Fees from single-family properties — — 2,833 — 2,833 Tenant charge-backs — 3 35,804 — 35,807 Other 334 — 1,007 — 1,341 Total revenues 334 25 257,645 — 258,004 Expenses: Property operating expenses — 3 100,984 — 100,987 Property management expenses — 3 18,984 — 18,987 General and administrative expense 5,937 1 3,293 — 9,231 Interest expense 6,257 1,835 21,209 — 29,301 Acquisition fees and costs expensed — — 1,311 — 1,311 Depreciation and amortization 297 — 79,006 — 79,303 Hurricane-related charges, net — — — — — Other expense 95 9 723 — 827 Total expenses 12,586 1,851 225,510 — 239,947 Intercompany income 451 — 57 (508 ) — Intercompany expenses (57 ) — (451 ) 508 — Gain on sale of single-family properties and other, net — 435 1,821 — 2,256 Remeasurement of participating preferred units 1,212 — — — 1,212 Equity in income of subsidiaries 32,182 10,232 — (42,414 ) — Net income 21,536 8,841 33,562 (42,414 ) 21,525 Noncontrolling interest — — (11 ) — (11 ) Preferred distributions 14,597 — — — 14,597 Redemption of participating preferred units — — — — — Net income attributable to common unitholders $ 6,939 $ 8,841 $ 33,573 $ (42,414 ) $ 6,939 Condensed Consolidating Statements of Operations (continued) (Amounts in thousands) For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Revenues: Rents from single-family properties $ — $ 102 $ 201,005 $ — $ 201,107 Fees from single-family properties — 1 2,603 — 2,604 Tenant charge-backs — 7 28,366 — 28,373 Other 386 — 1,284 — 1,670 Total revenues 386 110 233,258 — 233,754 Expenses: Property operating expenses — 48 83,257 — 83,305 Property management expenses — 6 17,472 — 17,478 General and administrative expense 4,994 2 4,299 — 9,295 Interest expense 3,328 1,774 26,787 — 31,889 Acquisition fees and costs expensed 355 — 741 — 1,096 Depreciation and amortization 409 2 73,542 — 73,953 Other 99 1 1,458 — 1,558 Total expenses 9,185 1,833 207,556 — 218,574 Intercompany income 76 — 148 (224 ) — Intercompany expenses (148 ) — (76 ) 224 — Gain on sale of single-family properties and other, net 3,031 (1,460 ) 455 — 2,026 Remeasurement of participating preferred units (5,410 ) — — — (5,410 ) Equity in income of subsidiaries 23,008 9,237 — (32,245 ) — Net income (loss) 11,758 6,054 26,229 (32,245 ) 11,796 Noncontrolling interest — — 38 — 38 Preferred distributions 13,587 — — — 13,587 Net (loss) income attributable to common unitholders $ (1,829 ) $ 6,054 $ 26,191 $ (32,245 ) $ (1,829 ) Condensed Consolidating Statements of Comprehensive Income (Loss) (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Net income $ 21,536 $ 8,841 $ 33,562 $ (42,414 ) $ 21,525 Other comprehensive income: Gain on cash flow hedging instrument: Gain on settlement of cash flow hedging instrument 9,553 — — — 9,553 Reclassification adjustment for amortization of interest expense included in net income (120 ) — — — (120 ) Other comprehensive income 9,433 — — — 9,433 Comprehensive income 30,969 8,841 33,562 (42,414 ) 30,958 Comprehensive loss attributable to noncontrolling interests — — (11 ) — (11 ) Preferred distributions 14,597 — — — 14,597 Comprehensive income attributable to common unitholders $ 16,372 $ 8,841 $ 33,573 $ (42,414 ) $ 16,372 For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Net income $ 11,758 $ 6,054 $ 26,229 $ (32,245 ) $ 11,796 Other comprehensive loss: Gain on cash flow hedging instrument: Reclassification adjustment for amortization of interest expense included in net income — — (28 ) — (28 ) Unrealized gain on investment in equity securities: Reclassification adjustment for realized gain included in net income (67 ) — — — (67 ) Other comprehensive loss (67 ) — (28 ) — (95 ) Comprehensive income 11,691 6,054 26,201 (32,245 ) 11,701 Comprehensive income attributable to noncontrolling interests — — 38 — 38 Preferred distributions 13,587 — — — 13,587 Comprehensive (loss) income attributable to common unitholders $ (1,896 ) $ 6,054 $ 26,163 $ (32,245 ) $ (1,924 ) Condensed Consolidating Statements of Cash Flows (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Operating activities Net cash (used for) provided by operating activities $ (68,398 ) $ 12 $ 180,877 $ — $ 112,491 Investing activities Cash paid for single-family properties — — (149,674 ) — (149,674 ) Change in escrow deposits for purchase of single-family properties — — (4,115 ) — (4,115 ) Net proceeds received from sales of single-family properties and other — 1,422 10,545 — 11,967 Proceeds received from hurricane-related insurance claims — — 4,000 — 4,000 Distributions from joint ventures 180 — 1,050 — 1,230 (Investment in) return of investment in subsidiaries (57,488 ) 9,002 — 48,486 — Initial renovations to single-family properties — — (20,400 ) — (20,400 ) Recurring and other capital expenditures for single-family properties — (205 ) (10,962 ) — (11,167 ) Other purchases of productive assets — — (53,472 ) — (53,472 ) Net cash (used for) provided by investing activities (57,308 ) 10,219 (223,028 ) 48,486 (221,631 ) Financing activities Repurchase of Class A units (34,969 ) — — — (34,969 ) Share-based compensation payments, net (414 ) — — — (414 ) Payments on asset-backed securitizations — — (5,312 ) — (5,312 ) Proceeds from revolving credit facility 100,000 — — — 100,000 Payments on revolving credit facility (240,000 ) — — — (240,000 ) Payments on secured note payable — — (255 ) — (255 ) Proceeds from unsecured senior notes, net of discount 497,210 — — — 497,210 Settlement of cash flow hedging instrument 9,628 — — — 9,628 Intercompany financing and distributions to parent — (10,232 ) 58,718 (48,486 ) — Distributions to common unitholders (19,794 ) — — — (19,794 ) Distributions to preferred unitholders (14,597 ) — — — (14,597 ) Deferred financing costs paid (5,025 ) — — — (5,025 ) Net cash provided by (used for) financing activities 292,039 (10,232 ) 53,151 (48,486 ) 286,472 Net increase (decrease) in cash, cash equivalents and restricted cash 166,333 (1 ) 11,000 — 177,332 Cash, cash equivalents and restricted cash, beginning of period 36,899 31 145,893 — 182,823 Cash, cash equivalents and restricted cash, end of period $ 203,232 $ 30 $ 156,893 $ — $ 360,155 Supplemental cash flow information Cash payments for interest, net of amounts capitalized $ (2,708 ) $ — $ (19,982 ) $ — $ (22,690 ) Supplemental schedule of noncash investing and financing activities Accounts payable and accrued expenses related to property acquisitions, renovations and construction $ — $ (12 ) $ 9,387 $ — $ 9,375 Transfers of completed homebuilding deliveries to properties $ — $ — $ 8,693 $ — $ 8,693 Accrued distributions to affiliates $ (2,719 ) $ — $ — $ — $ (2,719 ) Accrued distributions to non-affiliates $ 25 $ — $ — $ — $ 25 Condensed Consolidating Statements of Cash Flows (continued) (Amounts in thousands) For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Operating activities Net cash (used for) provided by operating activities $ (7,999 ) $ (4,271 ) $ 122,307 $ — $ 110,037 Investing activities Cash paid for single-family properties — — (73,622 ) — (73,622 ) Change in escrow deposits for purchase of single-family properties — — (1,072 ) — (1,072 ) Net proceeds received from sales of single-family properties and other 14,265 199 16,842 — 31,306 Collections from mortgage financing receivables — — 70 — 70 Distributions from unconsolidated joint ventures 280 — 912 — 1,192 Collections from intercompany notes 2,857 — — (2,857 ) — Return of investment in subsidiaries 32,162 15,757 — (47,919 ) — Initial renovations to single-family properties — (1,549 ) (6,128 ) — (7,677 ) Recurring and other capital expenditures for single-family properties — — (6,484 ) — (6,484 ) Other purchases of productive assets (6,657 ) — (7,053 ) — (13,710 ) Net cash provided by (used for) investing activities 42,907 14,407 (76,535 ) (50,776 ) (69,997 ) Financing activities Proceeds from issuance of Class A units 350,612 — — — 350,612 Payments of Class A unit issuance costs (236 ) — — — (236 ) Proceeds from exercise of stock options, net of tax withholding 258 — — — 258 Payments on asset-backed securitizations — — (6,231 ) — (6,231 ) Proceeds from term loan facility 25,000 — — — 25,000 Payments on secured note payable — — (245 ) — (245 ) Payments on intercompany notes borrowed — — (2,857 ) 2,857 — Intercompany financing and distributions to parent — (9,237 ) (38,682 ) 47,919 — Distributions to common unitholders (14,993 ) — — — (14,993 ) Distributions to preferred unitholders (13,587 ) — — — (13,587 ) Net cash provided by (used for) financing activities 347,054 (9,237 ) (48,015 ) 50,776 340,578 Net increase (decrease) in cash, cash equivalents and restricted cash 381,962 899 (2,243 ) — 380,618 Cash, cash equivalents and restricted cash, beginning of period 76,913 62 173,266 — 250,241 Cash, cash equivalents and restricted cash, end of period $ 458,875 $ 961 $ 171,023 $ — $ 630,859 Supplemental cash flow information Cash payments for interest, net of amounts capitalized $ (2,749 ) $ (934 ) $ (24,804 ) $ — $ (28,487 ) Supplemental schedule of noncash investing and financing activities Accounts payable and accrued expenses related to property acquisitions and renovations $ — $ 26 $ (977 ) $ — $ (951 ) Note receivable related to a bulk sale of properties, net of discount $ 5,483 $ — $ — $ — $ 5,483

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent Acquisitions From April 1, 2018 , through April 30, 2018 , the Company acquired 52 properties for an aggregate purchase price of approximately $12.4 million , which included 16 homes developed through our internal construction program. Redemption of Series C Participating Preferred Shares On April 5, 2018 , the Company redeemed all 7,600,000 shares of the outstanding 5.5% Series C participating preferred shares through a conversion of those participating preferred shares into Class A common shares of beneficial interest, $0.01 par value, in accordance with the conversion terms in the Articles Supplementary. This resulted in 10,848,827 Class A common shares issued from the conversion, based on a conversion ratio of 1.4275 Class A common shares issued per Series C participating preferred share. The Operating Partnership also redeemed its corresponding Series C participating preferred units through a conversion into Class A units on April 5, 2018 (see Note 10). Declaration of Dividends On May 3, 2018 , the Company's board of trustees declared quarterly dividends of $0.05 per share on the Company's Class A and Class B common shares, $0.41 per share on the Company’s 6.5% Series D perpetual preferred shares, $0.40 per share on the Company’s 6.35% Series E perpetual preferred shares, $0.37 per share on the Company’s 5.875% Series F perpetual preferred shares, and $0.37 per share on the Company's 5.875% Series G perpetual preferred shares. The quarterly dividends are payable on July 2, 2018, to shareholders of record on June 15, 2018 . The Operating Partnership funds the payment of distributions, and an equivalent amount of distributions were declared on the corresponding Operating Partnership units.

Significant Accounting Polici24

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	The condensed consolidated financial statements are unaudited and include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The condensed consolidated financial statements of the Operating Partnership include the accounts of the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates VIEs in accordance with Accounting Standards Codification (“ASC”) No. 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. The ownership interest in a consolidated subsidiary of the Company held by outside parties is included in noncontrolling interest within the condensed consolidated financial statements. The 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 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 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s review of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. 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, 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.
Recent Accounting Pronouncements	In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which is intended to reduce the existing diversity in practice by addressing eight specific cash flow issues related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2017, and for interim periods within those annual periods with early adoption permitted. The Company adopted this guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) , to amend the accounting for credit losses for certain financial instruments by requiring companies to recognize an estimate of expected credit losses as an allowance in order to recognize such losses more timely than under previous guidance that had allowed companies to wait until it was probable such losses had been incurred. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2019, and for interim periods within those annual periods. Early adoption is permitted for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is currently assessing the impact of the guidance on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which sets forth principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessors and lessees). Lessor accounting will remain similar to lessor accounting under previous guidance, while aligning with the FASB's new revenue recognition guidance for non-lease components. The new guidance will require lessees to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than one year. The new guidance will also require lessees and lessors to capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Any other costs incurred, including allocated indirect costs, will no longer be capitalized and instead will be expensed as incurred. The guidance will be effective for the Company for annual reporting periods beginning after December 15, 2018, and for interim periods within those annual periods, with early adoption permitted, and requires the use of the modified retrospective transition method. The Company does not anticipate significant changes in the accounting for our residential operating leases for which we are the lessor, as our leases generally do not have terms of more than one year. As part of our operations, we lease office space for our corporate and property management offices under non-cancelable operating lease agreements for which we are the lessee. We anticipate that the adoption of this guidance will require us to recognize a right-of-use asset and corresponding lease liability for these office leases. The Company is currently assessing the impact of the adoption of this guidance on our financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , which amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2017, and for interim periods within those annual periods. The Company adopted this guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides guidance on revenue recognition and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, most industry-specific guidance and some cost guidance included in Subtopic 605-35, “ Revenue Recognition-Construction-Type and Production-Type Contracts .” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These judgments include identifying “distinct” performance obligations in multi-element contracts, estimating the amount of variable consideration to include in the transaction price at contract inception, allocating the transaction price to each separate performance obligation, and determining at contract inception whether the performance obligation is satisfied over time or at a point in time. Since lease contracts under ASC 840, "Leases" , are specifically excluded from ASU No. 2014-09’s scope, most of the Company’s rental contract revenue will continue to follow current leasing guidance. We have reviewed our other sources of revenue and identified that the non-lease components (tenant chargebacks and recovery revenue) in our single-family home and office leases will continue being accounted for under ASC 840 until the adoption of ASU 2016-02 beginning January 1, 2019. Based on our assessment, the Company’s current accounting policies for these non-lease components are aligned with the revenue recognition principles prescribed by the new guidance. Therefore, the new standard did not ultimately change the amount or timing of our revenue recognition. As part of ASU No. 2014-09, the FASB issued consequential amendments to other sections, eliminating ASC 360-20, Real Estate Sales and adding ASU No. 2017-05 Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets , Subtopic 610-20, "Other Income" . Real estate sales to noncustomers will follow new guidance from ASC 610-20, while sales to customers will follow the general revenue guidance in ASC 606. While the Company’s property sales are not part of our ordinary customer activity and will fall under ASC 610-20, there is little economic difference in the accounting for real estate sales to customers versus noncustomers, with the exception of the presentation of comprehensive income (revenue and expense when sales to customers or gains and losses when sales to noncustomers). The Company adopted the new revenue recognition guidance using the modified retrospective approach, effective January 1, 2018. We evaluated the revenue recognition for our contracts under existing accounting standards and under the new revenue recognition ASU and determined that there were no differences in the amounts or timing of recognition. Therefore, the adoption of this ASU did not result in an adjustment to our retained earnings on January 1, 2018. In February 2018, the FASB issued ASU No. 2018-03, Recognition and Measurement of Financial Assets and Financial Liabilities , which retained the current framework for accounting for financial instruments in GAAP but made targeted improvements to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance will be effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. The Company is currently assessing the impact of the guidance on our financial statements.

Cash, Cash Equivalents and Re25

Cash, Cash Equivalents and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company's and the Operating Partnership's condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets as of March 31, 2018 and 2017 : March 31, 2018 March 31, 2017 Balance Sheet: Cash and cash equivalents $ 203,883 $ 495,802 Restricted cash 156,272 135,057 Statement of Cash Flows: Cash, cash equivalents and restricted cash $ 360,155 $ 630,859
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company's and the Operating Partnership's condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets as of March 31, 2018 and 2017 : March 31, 2018 March 31, 2017 Balance Sheet: Cash and cash equivalents $ 203,883 $ 495,802 Restricted cash 156,272 135,057 Statement of Cash Flows: Cash, cash equivalents and restricted cash $ 360,155 $ 630,859

Single-Family Properties (Table

Single-Family Properties (Tables)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Single-Family Properties, Net	Single-family properties, net, consisted of the following as of March 31, 2018 , and December 31, 2017 (in thousands, except property data): March 31, 2018 Number of Net book Leased single-family properties 47,677 $ 7,455,093 Single-family properties being renovated 503 124,233 Single-family properties being prepared for re-lease 289 37,630 Vacant single-family properties available for lease 1,479 262,429 Single-family properties held for sale, net 1,318 201,693 Single-family properties identified for future sale 574 88,002 Total 51,840 $ 8,169,080 December 31, 2017 Number of Net book Leased single-family properties 46,996 $ 7,284,708 Single-family properties being renovated 980 225,194 Single-family properties being prepared for re-lease 372 47,994 Vacant single-family properties available for lease 2,581 471,281 Single-family properties held for sale, net 310 35,803 Total 51,239 $ 8,064,980

Escrow Deposits, Prepaid Expe27

Escrow Deposits, Prepaid Expenses and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of escrow deposits, prepaid expenses and other assets	The following table summarizes escrow deposits, prepaid expenses and other assets as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Escrow deposits, prepaid expenses and other $ 49,628 $ 33,964 Investments in joint ventures 41,425 42,341 Commercial real estate, vehicles and FF&E, net 45,168 43,608 Land held for development 70,023 39,079 Homebuilding construction in progress 35,463 12,859 Total $ 241,707 $ 171,851

Deferred Costs and Other Inta28

Deferred Costs and Other Intangibles, Net (Tables)	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs and Other Intangibles	Deferred costs and other intangibles, net, consisted of the following as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Deferred leasing costs $ 9,753 $ 7,030 Deferred financing costs 11,244 11,244 Intangible assets: Value of in-place leases 179 179 Trademark — 3,100 Database 2,100 2,100 23,276 23,653 Less: accumulated amortization (10,245 ) (10,628 ) Total $ 13,031 $ 13,025
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 March 31, 2018 , for future periods (in thousands): Year Deferred Deferred Value of Database Remaining 2018 $ 3,751 $ 1,479 $ 6 $ 225 2019 272 1,964 2 300 2020 — 1,969 — 132 2021 — 1,964 — — 2022 — 967 — — Total $ 4,023 $ 8,343 $ 8 $ 657

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt as of March 31, 2018 , and December 31, 2017 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date March 31, 2018 December 31, 2017 AH4R 2014-SFR2 securitization 4.42% October 9, 2024 $ 495,043 $ 496,326 AH4R 2014-SFR3 securitization 4.40% December 9, 2024 510,721 512,041 AH4R 2015-SFR1 securitization (2) 4.14% April 9, 2045 536,341 537,723 AH4R 2015-SFR2 securitization (3) 4.36% October 9, 2045 465,940 467,267 Total asset-backed securitizations 2,008,045 2,013,357 Unsecured senior notes (4) 4.08% February 15, 2028 500,000 — Exchangeable senior notes 3.25% November 15, 2018 115,000 115,000 Secured note payable 4.06% July 1, 2019 48,604 48,859 Revolving credit facility (5) 3.08% June 30, 2022 — 140,000 Term loan facility (6) 3.23% June 30, 2022 200,000 200,000 Total debt (7) 2,871,649 2,517,216 Unamortized discounts on unsecured and exchangeable senior notes (3,412 ) (895 ) Equity component of exchangeable senior notes (1,746 ) (2,408 ) Deferred financing costs, net (8) (41,634 ) (38,026 ) Total debt per balance sheet $ 2,824,857 $ 2,475,887 (1) Interest rates are as of March 31, 2018 . Unless otherwise stated, interest rates are fixed percentages. (2) The AH4R 2015-SFR1 securitization has a maturity date of April 9, 2045, with an anticipated repayment date of April 9, 2025. (3) The AH4R 2015-SFR2 securitization has a maturity date of October 9, 2045, with an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the unsecured senior notes is 4.25% , which was effectively hedged to yield an interest rate of 4.08% . (5) The revolving credit facility provides for a borrowing capacity of up to $800.0 million , with a fully extended maturity date of June 2022, and bears interest at a LIBOR rate plus a margin ranging from 0.825% to 1.55% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.55% . The interest rate stated represents the applicable spread for LIBOR based borrowings as of March 31, 2018 , plus 1-month LIBOR. (6) The term loan facility provides for a borrowing capacity of up to $200.0 million , with a maturity date of June 2022, and bears interest at a LIBOR rate plus a margin ranging from 0.90% to 1.75% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.75% . The interest rate stated represents the applicable spread for LIBOR based borrowings as of March 31, 2018 , plus 1-month LIBOR. (7) The Company was in compliance with all debt covenants associated with its asset-backed securitizations, unsecured senior notes, secured note payable, revolving credit facility and term loan facility as of March 31, 2018 , and December 31, 2017 . (8) Deferred financing costs relate to our asset-backed securitizations, term loan facility and unsecured senior notes. Amortization of deferred financing costs was $1.4 million and $2.2 million for the three months ended March 31, 2018 and 2017 , respectively, which has been included in gross interest, prior to interest capitalization.
Schedule of Maturities of Long-term Debt	The following table summarizes the contractual maturities of the Company's debt on a fully extended basis as of March 31, 2018 (in thousands): Remaining 2018 $ 131,290 2019 68,564 2020 20,714 2021 20,714 2022 220,714 Thereafter 2,409,653 Total debt 2,871,649 Unamortized discounts and deferred financing costs (1) (46,792 ) Total debt per balance sheet $ 2,824,857 (1) Includes the unamortized discounts on the unsecured and exchangeable senior notes, the equity component of the exchangeable senior notes and deferred financing costs, net.
Summary of Activity that Relates to Capitalized Interest	The following table displays our total gross interest, which includes unused commitment and other fees on our credit facilities and amortization of deferred financing costs, the discounts on senior notes and the fair value of the exchange settlement feature of the exchangeable senior notes, and capitalized interest for the three months ended March 31, 2018 and 2017 (in thousands): For the Three Months Ended March 31, 2018 March 31, 2017 Gross interest $ 31,737 $ 32,492 Capitalized interest (2,436 ) (603 ) Interest expense $ 29,301 $ 31,889

Accounts Payable and Accrued 30

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Accounts payable $ 272 $ 1,726 Accrued property taxes 67,190 47,765 Other accrued liabilities 37,023 31,788 Accrued distribution payable 27,006 26,982 Accrued construction and maintenance liabilities 29,173 17,928 Resident security deposits 80,156 75,951 Prepaid rent 21,447 20,727 Total $ 262,267 $ 222,867

Shareholders' Equity _ Partne31

Shareholders' Equity / Partners' Capital (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Preferred Shares Outstanding	As of March 31, 2018 , and December 31, 2017 , the Company had the following series of preferred shares outstanding (in thousands, except share data): March 31, 2018 December 31, 2017 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value (1) Outstanding Shares Current Liquidation Value (1) Series C participating preferred shares (2) 5/2/2014 3/31/2018 5.500 % 7,600,000 $ 219,238 7,600,000 $ 218,236 Series D perpetual preferred shares 5/24/2016 5/24/2021 6.500 % 10,750,000 268,750 10,750,000 268,750 Series E perpetual preferred shares 6/29/2016 6/29/2021 6.350 % 9,200,000 230,000 9,200,000 230,000 Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % 6,200,000 155,000 6,200,000 155,000 Series G perpetual preferred shares 7/17/2017 7/17/2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 38,350,000 $ 987,988 38,350,000 $ 986,986 (1) Liquidation value for the Series C participating preferred shares reflects initial liquidation value of $25.00 per share, adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets (2) All of the outstanding Series C participating preferred shares were converted into 10,848,827 Class A common shares on April 5, 2018 , based on a conversion ratio of 1.4275 common shares per preferred share in accordance with the conversion terms in the Articles Supplementary.
Noncontrolling Interest Activity in Condensed Consolidated Statements of Operations	The following table summarizes the income or loss allocated to noncontrolling interests as reflected in the Company's condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 (in thousands): For the Three Months Ended March 31, 2018 March 31, 2017 Net income (loss) allocated to Class A units $ 1,125 $ (339 ) Net (loss) income allocated to noncontrolling interest in a consolidated subsidiary (11 ) 38 $ 1,114 $ (301 )
Summary of Stock Option Activity under Plan	The following table summarizes stock option activity under the Plan for the three months ended March 31, 2018 and 2017 : Shares Weighted- Weighted- Aggregate Options outstanding at January 1, 2017 2,826,500 $ 15.69 7.6 $ 14,956 Granted 385,200 23.38 Exercised (16,000 ) 16.07 117 Forfeited (5,000 ) 16.48 Options outstanding at March 31, 2017 3,190,700 $ 16.62 7.7 $ 20,404 Options exercisable at March 31, 2017 1,660,750 $ 15.84 6.9 $ 11,824 Options outstanding at January 1, 2018 3,052,450 $ 16.65 6.9 $ 16,421 Granted 140,000 19.40 Exercised (7,500 ) 16.62 22 Forfeited (10,000 ) 17.83 Options outstanding at March 31, 2018 3,174,950 $ 16.76 6.7 $ 11,748 Options exercisable at March 31, 2018 2,272,675 $ 16.16 6.1 $ 9,213 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
Summary of Black-Scholes Option Pricing Model Inputs used for Valuation of Stock Options Outstanding	The following table summarizes the Black-Scholes Option Pricing Model inputs used for valuation of the stock options for Class A common shares granted during the three months ended March 31, 2018 and 2017 : 2018 2017 Weighted-average fair value $ 3.03 $ 3.82 Expected term (years) 7.0 7.0 Dividend yield 3.0 % 3.0 % Volatility 18.9 % 21.3 % Risk-free interest rate 2.8 % 2.2 %
Summary of Restricted Stock Units Activity Under Plan	The following table summarizes the activity that relates to the Company’s restricted stock units under the Plan for the three months ended March 31, 2018 and 2017 : 2018 2017 Restricted stock units at beginning of period 243,875 130,150 Units awarded 304,400 174,000 Units vested (79,525 ) (41,975 ) Units forfeited (5,625 ) (1,750 ) Restricted stock units at end of period 463,125 260,425

Earnings per Share _ Unit (Tabl

Earnings per Share / Unit (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation of Net Income (Loss) per Share on Basic and Diluted Basis	American Homes 4 Rent The following table reflects the Company's computation of net income or loss per common share on a basic and diluted basis for the three months ended March 31, 2018 and 2017 (in thousands, except share and per share data): For the Three Months Ended 2018 2017 Numerator: Net income $ 21,525 $ 11,796 Less: Noncontrolling interest 1,114 (301 ) Dividends on preferred shares 14,597 13,587 Allocation to participating securities (1) 23 — Numerator for income (loss) per common share—basic and diluted $ 5,791 $ (1,490 ) Denominator: Weighted-average common shares outstanding—basic 286,183,429 244,391,368 Effect of dilutive securities: Share-based compensation plan (2) 544,434 — Weighted-average common shares outstanding—diluted (3) 286,727,863 244,391,368 Net income (loss) per common share: Basic $ 0.02 $ (0.01 ) Diluted $ 0.02 $ (0.01 ) (1) Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options. (3) The computation of diluted earnings per share for the three months ended March 31, 2018 and 2017 , excludes an aggregate of 17,221,189 and 27,790,165 potentially dilutive securities, respectively, which include a combination of participating preferred shares, exchangeable senior notes, common shares issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods. The effect of the potential conversion of OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share. American Homes 4 Rent, L.P. The following table reflects the Operating Partnership's computation of net income or loss per common unit on a basic and diluted basis for the three months ended March 31, 2018 and 2017 (in thousands, except unit and per unit data): For the Three Months Ended 2018 2017 Numerator: Net income $ 21,525 $ 11,796 Less: Noncontrolling interest (11 ) 38 Preferred distributions 14,597 13,587 Allocation to participating securities (1) 23 — Numerator for income (loss) per common unit—basic and diluted $ 6,916 $ (1,829 ) Denominator: Weighted-average common units outstanding—basic 341,533,582 299,947,328 Effect of dilutive securities: Share-based compensation plan (2) 544,434 — Weighted-average common units outstanding—diluted (3) 342,078,016 299,947,328 Net income (loss) per common unit: Basic $ 0.02 $ (0.01 ) Diluted $ 0.02 $ (0.01 ) (1) Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options. (3) The computation of diluted earnings per unit for the three months ended March 31, 2018 and 2017 , excludes an aggregate of 17,221,189 and 27,790,165 potentially dilutive securities, respectively, which include a combination of participating preferred units, exchangeable senior notes, common units issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table displays the carrying values and fair values of our debt instruments as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 495,043 $ 500,863 $ 496,326 $ 504,730 AH4R 2014-SFR3 securitization 510,721 518,292 512,041 521,252 AH4R 2015-SFR1 securitization 536,341 541,689 537,723 544,592 AH4R 2015-SFR2 securitization 465,940 472,594 467,267 475,832 Total asset-backed securitizations (1) 2,008,045 2,033,438 2,013,357 2,046,406 Unsecured senior notes, net (1) (2) 497,245 491,395 — — Exchangeable senior notes, net (2) 112,597 131,968 111,697 147,462 Secured note payable 48,604 48,652 48,859 49,027 Revolving credit facility (1) (3) — — 140,000 140,000 Term loan facility (1) (4) 200,000 200,000 200,000 200,000 Total debt $ 2,866,491 $ 2,905,453 $ 2,513,913 $ 2,582,895 (1) The carrying values of the asset-backed securitizations, unsecured senior notes, revolving credit facility and term loan facility exclude $34.8 million , $5.0 million , $8.3 million and $1.9 million , respectively, of unamortized deferred financing costs as of March 31, 2018 , and exclude $36.0 million , zero , $8.8 million and $2.0 million , respectively, of unamortized deferred financing costs as of December 31, 2017 . (2) The carrying values of the unsecured senior notes, net and exchangeable senior notes, net are presented net of unamortized discounts. (3) As our revolving credit facility bears interest at a floating rate based on an index plus a spread, which is a LIBOR rate plus a margin ranging from 0.825% to 1.55% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.55% , management believes that the carrying value of the revolving credit facility reasonably approximates fair value. (4) As our term loan facility bears interest at a floating rate based on an index plus a spread, which is a LIBOR rate plus a margin ranging from 0.90% to 1.75% or a base rate (generally determined according to a prime rate or federal funds rate) plus a margin ranging from 0.00% to 0.75% , management believes that the carrying value of the term loan facility reasonably approximates fair value.
Fair Value of Financial Instruments	The following tables set forth the fair values of the participating preferred shares derivative liability and treasury lock as of March 31, 2018 , and December 31, 2017 (in thousands): March 31, 2018 Description Quoted Prices Significant Significant Total Liabilities: Participating preferred shares derivative liability $ — $ — $ 28,258 $ 28,258 December 31, 2017 Description Quoted Prices Significant Significant Total Assets: Treasury lock $ — $ 75 $ — $ 75 Liabilities: Participating preferred shares derivative liability $ — $ — $ 29,470 $ 29,470
Changes in Fair Value of Level 3 Financial Instruments	The following tables present changes in the fair values of our Level 3 financial instruments that are measured on a recurring basis with changes in fair value recognized in remeasurement of participating preferred shares within the condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 (in thousands): Description January 1, 2018 Remeasurement included in earnings March 31, 2018 Liabilities: Participating preferred shares derivative liability $ 29,470 $ (1,212 ) $ 28,258 Description January 1, 2017 Remeasurement included in earnings March 31, 2017 Liabilities: Participating preferred shares derivative liability $ 69,810 $ 5,410 $ 75,220

Condensed Consolidating Finan34

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (Amounts in thousands) As of March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Assets Single-family properties, net $ — $ 934 $ 8,168,146 $ — $ 8,169,080 Cash and cash equivalents 174,161 — 29,722 — 203,883 Restricted cash 29,071 30 127,171 — 156,272 Rent and other receivables, net 147 3 27,965 — 28,115 Intercompany receivables 218,777 — — (218,777 ) — Escrow deposits, prepaid expenses and other assets, including due from affiliates 58,483 163 208,727 — 267,373 Investments in subsidiaries 5,979,193 116,533 — (6,095,726 ) — Deferred costs and other intangibles, net 9,001 — 4,030 — 13,031 Goodwill 120,279 — — — 120,279 Total assets $ 6,589,112 $ 117,663 $ 8,565,761 $ (6,314,503 ) $ 8,958,033 Liabilities Revolving credit facility $ — $ — $ — $ — $ — Term loan facility, net 198,132 — — — 198,132 Asset-backed securitizations, net — — 1,973,242 — 1,973,242 Unsecured senior notes, net 492,282 — — — 492,282 Exchangeable senior notes, net — 112,597 — — 112,597 Secured note payable — — 48,604 — 48,604 Accounts payable and accrued expenses 33,399 3,661 225,207 — 262,267 Amounts payable to affiliates 2,001 — — — 2,001 Intercompany payables — 8,391 210,386 (218,777 ) — Participating preferred units derivative liability 28,258 — — — 28,258 Total liabilities 754,072 124,649 2,457,439 (218,777 ) 3,117,383 Capital Partners' capital: General partner: Common units 4,198,313 (6,986 ) 6,109,682 (6,095,726 ) 4,205,283 Preferred units 901,318 — — — 901,318 Limited partner: Common units 725,901 — — — 725,901 Accumulated other comprehensive income 9,508 — — — 9,508 Total partners' capital: 5,835,040 (6,986 ) 6,109,682 (6,095,726 ) 5,842,010 Noncontrolling interest — — (1,360 ) — (1,360 ) Total capital 5,835,040 (6,986 ) 6,108,322 (6,095,726 ) 5,840,650 Total liabilities and capital $ 6,589,112 $ 117,663 $ 8,565,761 $ (6,314,503 ) $ 8,958,033 Condensed Consolidating Balance Sheets (continued) (Amounts in thousands) As of December 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Assets Single-family properties, net $ — $ 1,732 $ 8,063,248 $ — $ 8,064,980 Cash and cash equivalents 22,157 — 23,999 — 46,156 Restricted cash 14,742 31 121,894 — 136,667 Rent and other receivables, net 114 57 29,973 — 30,144 Intercompany receivables 154,621 — — (154,621 ) — Escrow deposits, prepaid expenses and other assets, including due from affiliates 59,271 164 138,082 — 197,517 Investments in subsidiaries 5,889,146 115,303 — (6,004,449 ) — Deferred costs and other intangibles, net 9,652 — 3,373 — 13,025 Goodwill 120,279 — — — 120,279 Total assets $ 6,269,982 $ 117,287 $ 8,380,569 $ (6,159,070 ) $ 8,608,768 Liabilities Revolving credit facility $ 140,000 $ — $ — $ — $ 140,000 Term loan facility, net 198,023 — — — 198,023 Asset-backed securitizations, net — — 1,977,308 — 1,977,308 Exchangeable senior notes, net — 111,697 — — 111,697 Secured note payable — — 48,859 — 48,859 Accounts payable and accrued expenses 27,566 2,757 192,544 — 222,867 Amounts payable to affiliates 4,720 — — — 4,720 Intercompany payables — 8,428 146,193 (154,621 ) — Participating preferred units derivative liability 29,470 — — — 29,470 Total liabilities 399,779 122,882 2,364,904 (154,621 ) 2,732,944 Capital Partners' capital: General partner: Common units 4,241,266 (5,595 ) 6,017,014 (6,004,449 ) 4,248,236 Preferred units 901,318 — — — 901,318 Limited partner: Common units 727,544 — — — 727,544 Accumulated other comprehensive income 75 — — — 75 Total partners' capital: 5,870,203 (5,595 ) 6,017,014 (6,004,449 ) 5,877,173 Noncontrolling interest — — (1,349 ) — (1,349 ) Total capital 5,870,203 (5,595 ) 6,015,665 (6,004,449 ) 5,875,824 Total liabilities and capital $ 6,269,982 $ 117,287 $ 8,380,569 $ (6,159,070 ) $ 8,608,768
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Revenues: Rents from single-family properties $ — $ 22 $ 218,001 $ — $ 218,023 Fees from single-family properties — — 2,833 — 2,833 Tenant charge-backs — 3 35,804 — 35,807 Other 334 — 1,007 — 1,341 Total revenues 334 25 257,645 — 258,004 Expenses: Property operating expenses — 3 100,984 — 100,987 Property management expenses — 3 18,984 — 18,987 General and administrative expense 5,937 1 3,293 — 9,231 Interest expense 6,257 1,835 21,209 — 29,301 Acquisition fees and costs expensed — — 1,311 — 1,311 Depreciation and amortization 297 — 79,006 — 79,303 Hurricane-related charges, net — — — — — Other expense 95 9 723 — 827 Total expenses 12,586 1,851 225,510 — 239,947 Intercompany income 451 — 57 (508 ) — Intercompany expenses (57 ) — (451 ) 508 — Gain on sale of single-family properties and other, net — 435 1,821 — 2,256 Remeasurement of participating preferred units 1,212 — — — 1,212 Equity in income of subsidiaries 32,182 10,232 — (42,414 ) — Net income 21,536 8,841 33,562 (42,414 ) 21,525 Noncontrolling interest — — (11 ) — (11 ) Preferred distributions 14,597 — — — 14,597 Redemption of participating preferred units — — — — — Net income attributable to common unitholders $ 6,939 $ 8,841 $ 33,573 $ (42,414 ) $ 6,939 Condensed Consolidating Statements of Operations (continued) (Amounts in thousands) For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Revenues: Rents from single-family properties $ — $ 102 $ 201,005 $ — $ 201,107 Fees from single-family properties — 1 2,603 — 2,604 Tenant charge-backs — 7 28,366 — 28,373 Other 386 — 1,284 — 1,670 Total revenues 386 110 233,258 — 233,754 Expenses: Property operating expenses — 48 83,257 — 83,305 Property management expenses — 6 17,472 — 17,478 General and administrative expense 4,994 2 4,299 — 9,295 Interest expense 3,328 1,774 26,787 — 31,889 Acquisition fees and costs expensed 355 — 741 — 1,096 Depreciation and amortization 409 2 73,542 — 73,953 Other 99 1 1,458 — 1,558 Total expenses 9,185 1,833 207,556 — 218,574 Intercompany income 76 — 148 (224 ) — Intercompany expenses (148 ) — (76 ) 224 — Gain on sale of single-family properties and other, net 3,031 (1,460 ) 455 — 2,026 Remeasurement of participating preferred units (5,410 ) — — — (5,410 ) Equity in income of subsidiaries 23,008 9,237 — (32,245 ) — Net income (loss) 11,758 6,054 26,229 (32,245 ) 11,796 Noncontrolling interest — — 38 — 38 Preferred distributions 13,587 — — — 13,587 Net (loss) income attributable to common unitholders $ (1,829 ) $ 6,054 $ 26,191 $ (32,245 ) $ (1,829 )
Condensed Consolidating Statements of Comprehensive Income (Loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Net income $ 21,536 $ 8,841 $ 33,562 $ (42,414 ) $ 21,525 Other comprehensive income: Gain on cash flow hedging instrument: Gain on settlement of cash flow hedging instrument 9,553 — — — 9,553 Reclassification adjustment for amortization of interest expense included in net income (120 ) — — — (120 ) Other comprehensive income 9,433 — — — 9,433 Comprehensive income 30,969 8,841 33,562 (42,414 ) 30,958 Comprehensive loss attributable to noncontrolling interests — — (11 ) — (11 ) Preferred distributions 14,597 — — — 14,597 Comprehensive income attributable to common unitholders $ 16,372 $ 8,841 $ 33,573 $ (42,414 ) $ 16,372 For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Net income $ 11,758 $ 6,054 $ 26,229 $ (32,245 ) $ 11,796 Other comprehensive loss: Gain on cash flow hedging instrument: Reclassification adjustment for amortization of interest expense included in net income — — (28 ) — (28 ) Unrealized gain on investment in equity securities: Reclassification adjustment for realized gain included in net income (67 ) — — — (67 ) Other comprehensive loss (67 ) — (28 ) — (95 ) Comprehensive income 11,691 6,054 26,201 (32,245 ) 11,701 Comprehensive income attributable to noncontrolling interests — — 38 — 38 Preferred distributions 13,587 — — — 13,587 Comprehensive (loss) income attributable to common unitholders $ (1,896 ) $ 6,054 $ 26,163 $ (32,245 ) $ (1,924 )
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (Amounts in thousands) For the Three Months Ended March 31, 2018 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Operating activities Net cash (used for) provided by operating activities $ (68,398 ) $ 12 $ 180,877 $ — $ 112,491 Investing activities Cash paid for single-family properties — — (149,674 ) — (149,674 ) Change in escrow deposits for purchase of single-family properties — — (4,115 ) — (4,115 ) Net proceeds received from sales of single-family properties and other — 1,422 10,545 — 11,967 Proceeds received from hurricane-related insurance claims — — 4,000 — 4,000 Distributions from joint ventures 180 — 1,050 — 1,230 (Investment in) return of investment in subsidiaries (57,488 ) 9,002 — 48,486 — Initial renovations to single-family properties — — (20,400 ) — (20,400 ) Recurring and other capital expenditures for single-family properties — (205 ) (10,962 ) — (11,167 ) Other purchases of productive assets — — (53,472 ) — (53,472 ) Net cash (used for) provided by investing activities (57,308 ) 10,219 (223,028 ) 48,486 (221,631 ) Financing activities Repurchase of Class A units (34,969 ) — — — (34,969 ) Share-based compensation payments, net (414 ) — — — (414 ) Payments on asset-backed securitizations — — (5,312 ) — (5,312 ) Proceeds from revolving credit facility 100,000 — — — 100,000 Payments on revolving credit facility (240,000 ) — — — (240,000 ) Payments on secured note payable — — (255 ) — (255 ) Proceeds from unsecured senior notes, net of discount 497,210 — — — 497,210 Settlement of cash flow hedging instrument 9,628 — — — 9,628 Intercompany financing and distributions to parent — (10,232 ) 58,718 (48,486 ) — Distributions to common unitholders (19,794 ) — — — (19,794 ) Distributions to preferred unitholders (14,597 ) — — — (14,597 ) Deferred financing costs paid (5,025 ) — — — (5,025 ) Net cash provided by (used for) financing activities 292,039 (10,232 ) 53,151 (48,486 ) 286,472 Net increase (decrease) in cash, cash equivalents and restricted cash 166,333 (1 ) 11,000 — 177,332 Cash, cash equivalents and restricted cash, beginning of period 36,899 31 145,893 — 182,823 Cash, cash equivalents and restricted cash, end of period $ 203,232 $ 30 $ 156,893 $ — $ 360,155 Supplemental cash flow information Cash payments for interest, net of amounts capitalized $ (2,708 ) $ — $ (19,982 ) $ — $ (22,690 ) Supplemental schedule of noncash investing and financing activities Accounts payable and accrued expenses related to property acquisitions, renovations and construction $ — $ (12 ) $ 9,387 $ — $ 9,375 Transfers of completed homebuilding deliveries to properties $ — $ — $ 8,693 $ — $ 8,693 Accrued distributions to affiliates $ (2,719 ) $ — $ — $ — $ (2,719 ) Accrued distributions to non-affiliates $ 25 $ — $ — $ — $ 25 Condensed Consolidating Statements of Cash Flows (continued) (Amounts in thousands) For the Three Months Ended March 31, 2017 American Homes 4 Rent, L.P. American Residential Properties OP, L.P. Combined Consolidating Adjustments Consolidated Total Operating activities Net cash (used for) provided by operating activities $ (7,999 ) $ (4,271 ) $ 122,307 $ — $ 110,037 Investing activities Cash paid for single-family properties — — (73,622 ) — (73,622 ) Change in escrow deposits for purchase of single-family properties — — (1,072 ) — (1,072 ) Net proceeds received from sales of single-family properties and other 14,265 199 16,842 — 31,306 Collections from mortgage financing receivables — — 70 — 70 Distributions from unconsolidated joint ventures 280 — 912 — 1,192 Collections from intercompany notes 2,857 — — (2,857 ) — Return of investment in subsidiaries 32,162 15,757 — (47,919 ) — Initial renovations to single-family properties — (1,549 ) (6,128 ) — (7,677 ) Recurring and other capital expenditures for single-family properties — — (6,484 ) — (6,484 ) Other purchases of productive assets (6,657 ) — (7,053 ) — (13,710 ) Net cash provided by (used for) investing activities 42,907 14,407 (76,535 ) (50,776 ) (69,997 ) Financing activities Proceeds from issuance of Class A units 350,612 — — — 350,612 Payments of Class A unit issuance costs (236 ) — — — (236 ) Proceeds from exercise of stock options, net of tax withholding 258 — — — 258 Payments on asset-backed securitizations — — (6,231 ) — (6,231 ) Proceeds from term loan facility 25,000 — — — 25,000 Payments on secured note payable — — (245 ) — (245 ) Payments on intercompany notes borrowed — — (2,857 ) 2,857 — Intercompany financing and distributions to parent — (9,237 ) (38,682 ) 47,919 — Distributions to common unitholders (14,993 ) — — — (14,993 ) Distributions to preferred unitholders (13,587 ) — — — (13,587 ) Net cash provided by (used for) financing activities 347,054 (9,237 ) (48,015 ) 50,776 340,578 Net increase (decrease) in cash, cash equivalents and restricted cash 381,962 899 (2,243 ) — 380,618 Cash, cash equivalents and restricted cash, beginning of period 76,913 62 173,266 — 250,241 Cash, cash equivalents and restricted cash, end of period $ 458,875 $ 961 $ 171,023 $ — $ 630,859 Supplemental cash flow information Cash payments for interest, net of amounts capitalized $ (2,749 ) $ (934 ) $ (24,804 ) $ — $ (28,487 ) Supplemental schedule of noncash investing and financing activities Accounts payable and accrued expenses related to property acquisitions and renovations $ — $ 26 $ (977 ) $ — $ (951 ) Note receivable related to a bulk sale of properties, net of discount $ 5,483 $ — $ — $ — $ 5,483

Organization and Operations (De

Organization and Operations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)statesingle_family_propertyproperty	Dec. 31, 2017USD ($)single_family_property
Real Estate Properties [Line Items]
Number of states | state	22
General partner interest	83.70%
Limited partner interest	16.30%
Asset-backed securitization certificates | $	$ 25,666	$ 25,666
Single-family properties identified for future sale
Real Estate Properties [Line Items]
Number of properties | property	574
Single Family Homes
Real Estate Properties [Line Items]
Number of properties	51,840	51,239
Single Family Homes | Properties Held for Sale
Real Estate Properties [Line Items]
Number of properties	1,318	310
Single Family Homes | Single-family properties identified for future sale
Real Estate Properties [Line Items]
Number of properties	574
Single Family Homes | Single-family properties identified as part of the disposition program
Real Estate Properties [Line Items]
Number of properties | property	1,892

Cash, Cash Equivalents and Re36

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Lease agreement term (in years)	1 year
Balance Sheet
Cash and cash equivalents	$ 203,883	$ 46,156	$ 495,802
Restricted cash	156,272	136,667	135,057
Statement of Cash Flows
Cash, cash equivalents and restricted cash	$ 360,155	$ 182,823	$ 630,859	$ 250,241

Single-Family Properties - Comp

Single-Family Properties - Components of Single-Family Properties (Details) $ in Thousands	Mar. 31, 2018USD ($)single_family_propertyproperty	Dec. 31, 2017USD ($)single_family_property
Property Subject to or Available for Operating Lease
Net book value	$ 8,169,080	$ 8,064,980
Single-family properties identified for future sale
Property Subject to or Available for Operating Lease
Number of properties | property	574
Single Family Homes
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	51,840	51,239
Net book value	$ 8,169,080	$ 8,064,980
Single Family Homes | Single-family properties being renovated
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	503	980
Net book value	$ 124,233	$ 225,194
Single Family Homes | Single-family properties being prepared for re-lease
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	289	372
Net book value	$ 37,630	$ 47,994
Single Family Homes | Single-family properties held for sale, net
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	1,318	310
Net book value	$ 201,693	$ 35,803
Single Family Homes | Single-family properties identified for future sale
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	574
Net book value	$ 88,002
Single Family Homes | Leased single-family properties
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	47,677	46,996
Net book value	$ 7,455,093	$ 7,284,708
Single Family Homes | Vacant single-family properties available for lease
Property Subject to or Available for Operating Lease
Number of properties | single_family_property	1,479	2,581
Net book value	$ 262,429	$ 471,281

Single-Family Properties - Narr

Single-Family Properties - Narrative (Details)	3 Months Ended
	Mar. 31, 2018USD ($)property	Mar. 31, 2017USD ($)property	Dec. 31, 2017USD ($)
Property Subject to or Available for Operating Lease
Proceeds from the sale of real estate properties	$ 11,967,000	$ 31,306,000
Single Family Homes
Property Subject to or Available for Operating Lease
Real estate investment properties unrecorded deed	4,700,000		$ 44,200,000
Depreciation expense	$ 75,400,000	$ 68,700,000
Number of real estate properties sold | property	103	504
Proceeds from the sale of real estate properties	$ 11,500,000	$ 24,000,000
Net gain (loss) on sale of single-family properties and other	2,100,000	(1,000,000)
Proceeds from sale of land	500,000
Gain (loss) on land sold	$ 100,000
Note receivable		7,000,000
Discount of note receivable		$ 1,500,000

Rent and Other Receivables, N39

Rent and Other Receivables, Net (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Allowance for doubtful accounts	$ 10.8	$ 10.4
Hurricane-related insurance claims receivable	4.9	8.9
Non-tenant receivables	$ 0.2	$ 1.2

Escrow Deposits, Prepaid Expe40

Escrow Deposits, Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow deposits, prepaid expenses and other	$ 49,628	$ 33,964
Investments in joint ventures	41,425	42,341
Commercial real estate, vehicles and FF&E, net	45,168	43,608
Land held for development	70,023	39,079
Homebuilding construction in progress	35,463	12,859
Total	$ 241,707	$ 171,851

Deferred Costs and Other Inta41

Deferred Costs and Other Intangibles, Net - Components of Deferred Costs and Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Acquired Indefinite-lived Intangible Assets
Deferred leasing costs	$ 9,753	$ 7,030
Deferred financing costs	11,244	11,244
Intangible assets:
Intangible assets	23,276	23,653
Less: accumulated amortization	(10,245)	(10,628)
Total	13,031	13,025
Value of in-place leases
Intangible assets:
Intangible assets	179	179
Trademark
Intangible assets:
Intangible assets	0	3,100
Database
Intangible assets:
Intangible assets	$ 2,100	$ 2,100

Deferred Costs and Other Inta42

Deferred Costs and Other Intangibles, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Amortization expense related to deferred leasing costs, in-place leases, trademark and database	$ 2.2	$ 2.9
Amortization of deferred financing costs	$ 0.5	$ 0.4

Deferred Costs and Other Inta43

Deferred Costs and Other Intangibles, Net - Amortization Expense (Details) $ in Thousands	Mar. 31, 2018USD ($)
Deferred Leasing Costs
Deferred Leasing Costs, Future Amortization Expenses [Abstract]
Remaining 2,018	$ 3,751
2,019	272
2,020	0
2,021	0
2,022	0
Total	4,023
Deferred Financing Costs
Debt Issuance Costs, Future Amortization Expenses [Abstract]
Remaining 2,018	1,479
2,019	1,964
2,020	1,969
2,021	1,964
2,022	967
Total	8,343
Value of in-place leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining 2,018	6
2,019	2
2,020	0
2,021	0
2,022	0
Total	8
Database
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining 2,018	225
2,019	300
2,020	132
2,021	0
2,022	0
Total	$ 657

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Feb. 28, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, gross	$ 2,871,649,000			$ 2,517,216,000
Unamortized discounts on unsecured and exchangeable senior notes	(3,412,000)			(895,000)
Equity component of exchangeable senior notes	(1,746,000)			(2,408,000)
Deferred financing costs, net	(41,634,000)			(38,026,000)
Total debt per balance sheet	2,824,857,000			2,475,887,000
Amortization of financing costs	1,900,000	$ 2,562,000
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred financing costs, net	(8,300,000)			(8,800,000)
Asset-backed Securitizations, Unsecured Senior Notes and Term Loan Facility
Debt Instrument [Line Items]
Amortization of financing costs	1,400,000	$ 2,200,000
Secured Debt
Debt Instrument [Line Items]
Debt, gross	$ 2,008,045,000			2,013,357,000
Secured Debt | 2014-SFR 2
Debt Instrument [Line Items]
Interest Rate	4.42%
Debt, gross	$ 495,043,000			496,326,000
Secured Debt | 2014-SFR 3
Debt Instrument [Line Items]
Interest Rate	4.40%
Debt, gross	$ 510,721,000			512,041,000
Secured Debt | 2015-SFR 1
Debt Instrument [Line Items]
Interest Rate	4.14%
Debt, gross	$ 536,341,000			537,723,000
Secured Debt | 2015-SFR 2
Debt Instrument [Line Items]
Interest Rate	4.36%
Debt, gross	$ 465,940,000			467,267,000
Secured Debt | Secured Note Payable
Debt Instrument [Line Items]
Interest Rate	4.06%
Debt, gross	$ 48,604,000			48,859,000
Senior Notes | 4.25% Senior Notes Due 2028
Debt Instrument [Line Items]
Interest Rate	4.25%		4.25%
Debt, gross	$ 500,000,000			0
Effective interest rate	4.08%
Deferred financing costs, net			$ (1,800,000)
Convertible Debt | 3.25% Exchangeable Senior Notes
Debt Instrument [Line Items]
Interest Rate	3.25%
Debt, gross	$ 115,000,000			115,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, gross	$ 0			140,000,000
Effective interest rate	3.08%
Credit facility amount, maximum	$ 800,000,000
Line of Credit | Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.825%
Line of Credit | Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.55%
Line of Credit | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Line of Credit | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.55%
Line of Credit | Term Loan facility
Debt Instrument [Line Items]
Debt, gross	$ 200,000,000			200,000,000
Effective interest rate	3.23%
Deferred financing costs, net	$ (1,900,000)			$ (2,000,000)
Credit facility amount, maximum	$ 200,000,000
Line of Credit | Term Loan facility | LIBOR | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.90%
Line of Credit | Term Loan facility | LIBOR | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Line of Credit | Term Loan facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Line of Credit | Term Loan facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%

Debt - Maturities (Details)

Debt - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Remaining 2,018	$ 131,290
2,019	68,564
2,020	20,714
2,021	20,714
2,022	220,714
Thereafter	2,409,653
Total debt	2,871,649	$ 2,517,216
Unamortized discount and deferred financing costs	(46,792)
Total debt per balance sheet	$ 2,824,857	$ 2,475,887

Debt - Narrative (Details)

Debt - Narrative (Details)	1 Months Ended	3 Months Ended
	Feb. 28, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Deferred financing costs, net		$ 41,634,000	$ 38,026,000
Senior Notes | 4.25% Senior Notes Due 2028
Debt Instrument [Line Items]
Debt instrument face amount	$ 500,000,000
Interest Rate	4.25%	4.25%
Net proceeds from debt issuance	$ 494,000,000
Underwriting fees	3,200,000
Unamortized discount	2,800,000
Deferred financing costs, net	$ 1,800,000
Effective interest rate		4.08%
Convertible Debt | 3.25% Exchangeable Senior Notes
Debt Instrument [Line Items]
Interest Rate		3.25%
Convertible debt conversion ratio		0.0554118
Convertible Debt | 3.25% Exchangeable Senior Notes | American Residential Properties Inc.
Debt Instrument [Line Items]
Convertible debt conversion ratio		0.0469423
Convertible debt conversion ratio adjustment		0.0532795
Equity interest issued, number of shares, multiplier		1.135

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Disclosure [Abstract]
Gross interest	$ 31,737	$ 32,492
Capitalized interest	(2,436)	(603)
Interest expense	$ 29,301	$ 31,889

Accounts Payable and Accrued 48

Accounts Payable and Accrued Expenses - Components of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accounts payable	$ 272	$ 1,726
Accrued property taxes	67,190	47,765
Other accrued liabilities	37,023	31,788
Accrued distribution payable	27,006	26,982
Accrued construction and maintenance liabilities	29,173	17,928
Resident security deposits	80,156	75,951
Prepaid rent	21,447	20,727
Total	$ 262,267	$ 222,867

Shareholders' Equity _ Partne49

Shareholders' Equity / Partners' Capital - At the Market Common Share Offering Program (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Aug. 31, 2017	Nov. 30, 2016
Class of Stock [Line Items]
Proceeds from issuance of shares/units	$ 0	$ 350,612,000
Class A common shares/units
Class of Stock [Line Items]
Stock issuance costs	0	$ 236,000
At the Market - Common Share Offering Program | Class A common shares/units
Class of Stock [Line Items]
Shares available for future issuance, value	$ 500,000,000			$ 400,000,000
Shares issued during period (in shares)		0.6
Proceeds from issuance of shares/units		$ 14,300,000
Shares issued, price per share (in dollars per share)		$ 22.72
Proceeds from issuance of common stock, net of issuance costs		$ 14,100,000
Stock issuance costs		$ 200,000
Shares authorized for future issuance, value			$ 500,000,000

Shareholders' Equity _ Partne50

Shareholders' Equity / Partners' Capital - Share Repurchase (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Feb. 28, 2018
Class A common shares/units
Class of Stock [Line Items]
Repurchase of shares, authorized amount			$ 300,000,000
Average price per share of Class A common shares (in dollars per share)	$ 19.36
Stock repurchased less commission and fees paid	$ 34,900,000
Remaining repurchase authorization	$ 265,100,000
Class A common shares/units | Common Stock
Class of Stock [Line Items]
Repurchases of Class A common shares (in shares)	1,804,163	0
Preferred Shares/Units
Class of Stock [Line Items]
Repurchase of shares, authorized amount	$ 250,000,000		$ 250,000,000

Shareholders' Equity _ Partne51

Shareholders' Equity / Partners' Capital - Participating Preferred Shares (Details) $ / shares in Units, $ in Thousands	Apr. 05, 2018marketshares	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)market$ / sharesshares	Mar. 31, 2017	Dec. 31, 2017USD ($)$ / sharesshares
Class of Stock [Line Items]
Preferred shares, shares outstanding (in shares)			38,350,000		38,350,000
Liquidation Value | $			$ 987,988		$ 986,986
Liquidation value (in dollars per share) | $ / shares			$ 25
Cumulative change in value of index based on purchase prices			50.00%
Number of top markets used for purchase price index | market			20
5.5% Series C Participating Preferred Shares
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage			5.50%	5.50%
Preferred shares, shares outstanding (in shares)			7,600,000		7,600,000
Liquidation Value | $			$ 219,238		$ 218,236
5.5% Series C Participating Preferred Shares | Subsequent Event
Class of Stock [Line Items]
Stock converted during period (in shares)	7,600,000
Series D Perpetual Preferred Shares/Units
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage			6.50%
Preferred shares, shares outstanding (in shares)			10,750,000		10,750,000
Liquidation Value | $			$ 268,750		$ 268,750
Series E Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage			6.35%
Preferred shares, shares outstanding (in shares)			9,200,000		9,200,000
Liquidation Value | $			$ 230,000		$ 230,000
Series F Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage			5.875%
Preferred shares, shares outstanding (in shares)			6,200,000		6,200,000
Liquidation Value | $			$ 155,000		$ 155,000
Series G Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage			5.875%
Preferred shares, shares outstanding (in shares)			4,600,000		4,600,000
Liquidation Value | $			$ 115,000		$ 115,000
Class A common shares/units
Class of Stock [Line Items]
Common shares, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Class A common shares/units | Scenario, Forecast
Class of Stock [Line Items]
Allocation to participating preferred shareholders | $		$ 32,200
Class A common shares/units | Subsequent Event
Class of Stock [Line Items]
Issuance of common shares, net of offering costs (in shares)	10,848,827
Stock exchange ratio	1.4275
Percent of liquidation preference	50.00%
Number of markets used in calculation of conversion ratio | market	20
Conversion ratio, maximum internal rate of return	9.00%

Shareholders' Equity _ Partne52

Shareholders' Equity / Partners' Capital - Distributions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Class of Stock [Line Items]
Common stock dividend declared (in dollars per share)	$ 0.05	$ 0.05
Class A common shares/units
Class of Stock [Line Items]
Common stock dividend declared (in dollars per share)	0.05	0.05
Class B common shares
Class of Stock [Line Items]
Common stock dividend declared (in dollars per share)	0.05
5.5% Series C Participating Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.34	$ 0.34
Preferred stock, dividend rate, percentage	5.50%	5.50%
Series D Perpetual Preferred Shares/Units
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.41	$ 0.41
Preferred stock, dividend rate, percentage	6.50%
Series E Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.40	0.40
Preferred stock, dividend rate, percentage	6.35%
Series F Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.37
Preferred stock, dividend rate, percentage	5.875%
Series G Perpetual Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.37
Preferred stock, dividend rate, percentage	5.875%
5.0% Series A Participating Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)		$ 0.31
Preferred stock, dividend rate, percentage		5.00%
5.0% Series B Participating Preferred Shares
Class of Stock [Line Items]
Preferred stock dividends declared (in dollars per share)		$ 0.31
Preferred stock, dividend rate, percentage		5.00%

Shareholders' Equity _ Partne53

Shareholders' Equity / Partners' Capital - Noncontrolling Interest (Details) - Class A Units - Operating Partnership - shares	Mar. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Operating partnership units (in shares)	340,354,889	342,099,865
American Residential Properties Inc.
Class of Stock [Line Items]
Percentage of units outstanding	0.30%	0.30%
Operating partnership units (in shares)	1,073,509	1,073,509
AH LLC
Class of Stock [Line Items]
Ownership units owned (in shares)	54,276,644	54,276,644
Percentage of units outstanding	16.00%	15.90%

Shareholders' Equity _ Partne54

Shareholders' Equity / Partners' Capital - Noncontrolling Interest Activity in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Class of Stock [Line Items]
Income (loss) allocated to noncontrolling interest	$ 1,114	$ (301)
Consolidated Subsidiaries With Noncontrolling Interest
Class of Stock [Line Items]
Income (loss) allocated to noncontrolling interest	(11)	38
Class A Units
Class of Stock [Line Items]
Income (loss) allocated to noncontrolling interest	$ 1,125	$ (339)

Shareholders' Equity _ Partne55

Shareholders' Equity / Partners' Capital - 2012 Equity Incentive Plan Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
General and Administrative Expense
Class of Stock [Line Items]
Allocated share-based compensation expense	$ 0.6	$ 0.5
Property Management Expense
Class of Stock [Line Items]
Allocated share-based compensation expense	0.4	0.4
Stock options and Restricted stock units
Class of Stock [Line Items]
Allocated share-based compensation expense	$ 1	$ 0.9
Restricted stock units
Class of Stock [Line Items]
Restricted stock unit grants in period (in shares)	304,400	174,000
2012 Equity Incentive Plan | Stock options and Restricted stock units
Class of Stock [Line Items]
Vesting period for stock options and restricted stock units	4 years
2012 Equity Incentive Plan | Stock options
Class of Stock [Line Items]
Granted (in shares)	140,000	385,200
Expiration period for stock options	10 years

Shareholders' Equity _ Partne56

Shareholders' Equity / Partners' Capital - Stock Options Activity (Details) - 2012 Equity Incentive Plan - Stock options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Stock Options
Outstanding at beginning of the period (in shares)	3,052,450	2,826,500	2,826,500
Granted (in shares)	140,000	385,200
Exercised (in shares)	(7,500)	(16,000)
Forfeited (in shares)	(10,000)	(5,000)
Outstanding at end of the period (in shares)	3,174,950	3,190,700	3,052,450	2,826,500
Exercisable at end of the period (in shares)	2,272,675	1,660,750
Weighted Average Exercise Price
Outstanding at beginning of the period (in dollars per share)	$ 16.65	$ 15.69	$ 15.69
Granted (in dollars per share)	19.40	23.38
Exercised (in dollars per share)	16.62	16.07
Forfeited (in dollars per share)	17.83	16.48
Outstanding at end of the period (in dollars per share)	16.76	16.62	$ 16.65	$ 15.69
Exercisable at end of the period (in dollars per share)	$ 16.16	$ 15.84
Aggregate intrinsic value
Weighted average remaining life (in years)	6 years 8 months 9 days	7 years 7 months 25 days	6 years 10 months 24 days	7 years 7 months 6 days
Weighted average exercisable (in years)	6 years 26 days	6 years 10 months 10 days
Aggregate intrinsic value	$ 11,748	$ 20,404	$ 16,421	$ 14,956
Aggregate intrinsic value exercised	22	117
Aggregate intrinsic value exercisable	$ 9,213	$ 11,824

Shareholders' Equity _ Partne57

Shareholders' Equity / Partners' Capital - Valuation Inputs (Details) - Class A common shares/units - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average fair value (in dollars per share)	$ 3.03	$ 3.82
Expected term (in years)	7 years	7 years
Dividend yield	3.00%	3.00%
Volatility	18.90%	21.30%
Risk-free interest rate	2.80%	2.20%

Shareholders' Equity _ Partne58

Shareholders' Equity / Partners' Capital - Restricted Stock Units (Details) - Restricted stock units - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of Restricted Stock Units
Restricted stock units at beginning of period (in shares)	243,875	130,150
Units awarded (in shares)	304,400	174,000
Units vested (in shares)	(79,525)	(41,975)
Units forfeited (in shares)	(5,625)	(1,750)
Restricted stock units at end of the period (in shares)	463,125	260,425

Earnings per Share _ Unit - Com

Earnings per Share / Unit - Computation of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income	$ 21,525	$ 11,796
Less:
Noncontrolling interest	1,114	(301)
Dividends on preferred shares/Preferred distributions	14,597	13,587
Allocation to participating securities	23	0
Numerator for income (loss) per common share/unit—basic and diluted	$ 5,791	$ (1,490)
Denominator
Weighted-average common shares outstanding - basic (in shares)	286,183,429	244,391,368
Effect of dilutive securities: Share-based compensation plan (in shares)	544,434	0
Weighted-average common shares outstanding–diluted (in shares)	286,727,863	244,391,368
Net income (loss) attributable to common shareholders/unitholders per share/unit
Basic (in dollars per share)	$ 0.02	$ (0.01)
Diluted (in dollars per share)	$ 0.02	$ (0.01)
American Homes 4 Rent, L.P.
Numerator:
Net income	$ 21,525	$ 11,796
Less:
Noncontrolling interest	(11)	38
Dividends on preferred shares/Preferred distributions	14,597	13,587
Allocation to participating securities	23	0
Numerator for income (loss) per common share/unit—basic and diluted	$ 6,916	$ (1,829)
Denominator
Effect of dilutive securities: Share-based compensation plan (in shares)	544,434	0
Weighted-average common units outstanding - basic (in shares)	341,533,582	299,947,328
Weighted-average common units outstanding–diluted (in shares)	342,078,016	299,947,328
Net income (loss) attributable to common shareholders/unitholders per share/unit
Basic (in dollars per share)	$ 0.02	$ (0.01)
Diluted (in dollars per share)	$ 0.02	$ (0.01)

Earnings per Share _ Unit - Nar

Earnings per Share / Unit - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of EPS (in shares)	17,221,189	27,790,165
American Homes 4 Rent, L.P.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of EPS (in shares)	17,221,189	27,790,165

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)single_family_property	Dec. 31, 2017USD ($)single_family_property
Long-term Purchase Commitment [Line Items]
Single-family properties sales in escrow | single_family_property	36	69
Single-family properties sales in escrow, selling price	$ 5.1	$ 7
Silver Bay Realty Trust Corp.
Gain (Loss) on Sale of Securities, Net [Abstract]
Gain (loss) on sale of equity investments		$ 3
Single Family Properties
Long-term Purchase Commitment [Line Items]
Commitment to acquire single-family properties | single_family_property	219	520
Purchase price of commitment to acquire single-family properties	$ 58.6	$ 128.1
Land
Long-term Purchase Commitment [Line Items]
Purchase price of commitment to acquire single-family properties	$ 42.4	$ 24

Fair Value - Carrying Value and

Fair Value - Carrying Value and Fair Value (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Oct. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred financing costs, net	$ 41,634,000	$ 38,026,000
Gain on derivative recorded in other comprehensive income	9,600,000
Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		75,000
Treasury Lock | Designated as Hedging Instrument
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, notional amount			$ 350,000,000
Revolving Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred financing costs, net	$ 8,300,000	8,800,000
Line of Credit | LIBOR | Minimum | Revolving Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.825%
Line of Credit | LIBOR | Maximum | Revolving Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	1.55%
Line of Credit | Base Rate | Minimum | Revolving Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Line of Credit | Base Rate | Maximum | Revolving Credit Facility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.55%
Asset-backed securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred financing costs, net	$ 34,800,000	36,000,000
Term Loan facility | Line of Credit
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred financing costs, net	$ 1,900,000	2,000,000
Term Loan facility | Line of Credit | LIBOR | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.90%
Term Loan facility | Line of Credit | LIBOR | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Term Loan facility | Line of Credit | Base Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Term Loan facility | Line of Credit | Base Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Unsecured Senior Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Deferred financing costs, net	$ 5,000,000	0
Significant Unobservable Inputs (Level 3) | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		0
Significant Other Observable Inputs (Level 2) | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		75,000
Carrying Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	2,008,045,000	2,013,357,000
Unsecured senior notes, net	497,245,000	0
Exchangeable senior notes, net	112,597,000	111,697,000
Secured note payable	48,604,000	48,859,000
Revolving credit facility	0	140,000,000
Term loan facility	200,000,000	200,000,000
Total debt	2,866,491,000	2,513,913,000
Carrying Value | 2014-SFR 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	495,043,000	496,326,000
Carrying Value | 2014-SFR 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	510,721,000	512,041,000
Carrying Value | 2015-SFR 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	536,341,000	537,723,000
Carrying Value | 2015-SFR 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	465,940,000	467,267,000
Fair Value | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	2,033,438,000	2,046,406,000
Unsecured senior notes, net	491,395,000	0
Exchangeable senior notes, net	131,968,000	147,462,000
Secured note payable	48,652,000	49,027,000
Revolving credit facility	0	140,000,000
Term loan facility	200,000,000	200,000,000
Total debt	2,905,453,000	2,582,895,000
Fair Value | Significant Unobservable Inputs (Level 3) | 2014-SFR 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	500,863,000	504,730,000
Fair Value | Significant Unobservable Inputs (Level 3) | 2014-SFR 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	518,292,000	521,252,000
Fair Value | Significant Unobservable Inputs (Level 3) | 2015-SFR 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	541,689,000	544,592,000
Fair Value | Significant Unobservable Inputs (Level 3) | 2015-SFR 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset-backed securitization	$ 472,594,000	$ 475,832,000

Fair Value - Fair Value Hierarc

Fair Value - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Liabilities:
Participating preferred shares/units derivative liability	$ 28,258	$ 29,470	$ 75,220	$ 69,810
Recurring
Assets:
Derivative asset		75
Liabilities:
Participating preferred shares/units derivative liability	28,258	29,470
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset		0
Liabilities:
Participating preferred shares/units derivative liability	0	0
Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset		75
Liabilities:
Participating preferred shares/units derivative liability	0	0
Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset		0
Liabilities:
Participating preferred shares/units derivative liability	$ 28,258	$ 29,470

Fair Value - Changes in Fair Va

Fair Value - Changes in Fair Value of Level 3 Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Preferred shares derivative liability, Beginning Balance	$ 29,470	$ 69,810
Preferred share derivative liability, Remeasurement included in earnings	(1,212)	5,410
Preferred shares derivative liability, Ending Balance	$ 28,258	$ 75,220

Condensed Consolidating Finan65

Condensed Consolidating Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Assets
Single-family properties, net	$ 8,169,080	$ 8,064,980
Cash and cash equivalents	203,883	46,156	$ 495,802
Restricted cash	156,272	136,667	135,057
Rent and other receivables, net	28,115	30,144
Deferred costs and other intangibles, net	13,031	13,025
Goodwill	120,279	120,279
Total assets	8,958,033	8,608,768
Liabilities
Asset-backed securitizations, net	1,973,242	1,977,308
Unsecured senior notes, net	492,282	0
Exchangeable senior notes, net	112,597	111,697
Secured note payable	48,604	48,859
Accounts payable and accrued expenses	262,267	222,867
Amounts payable to affiliates	2,001	4,720
Participating preferred units derivative liability	28,258	29,470	$ 75,220	$ 69,810
Total liabilities	3,117,383	2,732,944
Capital
Accumulated other comprehensive income	9,508	75
Total liabilities and equity/capital	8,958,033	8,608,768
Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	198,132	198,023
Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	0	140,000
American Homes 4 Rent, L.P.
Assets
Single-family properties, net	8,169,080	8,064,980
Cash and cash equivalents	203,883	46,156
Restricted cash	156,272	136,667
Rent and other receivables, net	28,115	30,144
Intercompany receivables	0	0
Escrow deposits, prepaid expenses and other assets, including due from affiliates	267,373	197,517
Investments in subsidiaries	0	0
Deferred costs and other intangibles, net	13,031	13,025
Goodwill	120,279	120,279
Total assets	8,958,033	8,608,768
Liabilities
Asset-backed securitizations, net	1,973,242	1,977,308
Unsecured senior notes, net	492,282	0
Exchangeable senior notes, net	112,597	111,697
Secured note payable	48,604	48,859
Accounts payable and accrued expenses	262,267	222,867
Amounts payable to affiliates	2,001	4,720
Intercompany payables	0	0
Participating preferred units derivative liability	28,258	29,470
Total liabilities	3,117,383	2,732,944
Capital
Limited partners, capital account	725,901	727,544
Accumulated other comprehensive income	9,508	75
Total partners' capital	5,842,010	5,877,173
Noncontrolling interest	(1,360)	(1,349)
Total capital	5,840,650	5,875,824
Total liabilities and equity/capital	8,958,033	8,608,768
American Homes 4 Rent, L.P. | Common Units
Capital
General partner, capital account	4,205,283	4,248,236
Limited partners, capital account	725,901	727,544
American Homes 4 Rent, L.P. | Preferred Shares/Units
Capital
General partner, capital account	901,318	901,318
American Homes 4 Rent, L.P. | Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	198,132	198,023
American Homes 4 Rent, L.P. | Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	0	140,000
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company)
Assets
Single-family properties, net	0	0
Cash and cash equivalents	174,161	22,157
Restricted cash	29,071	14,742
Rent and other receivables, net	147	114
Intercompany receivables	218,777	154,621
Escrow deposits, prepaid expenses and other assets, including due from affiliates	58,483	59,271
Investments in subsidiaries	5,979,193	5,889,146
Deferred costs and other intangibles, net	9,001	9,652
Goodwill	120,279	120,279
Total assets	6,589,112	6,269,982
Liabilities
Asset-backed securitizations, net	0	0
Unsecured senior notes, net	492,282
Exchangeable senior notes, net	0	0
Secured note payable	0	0
Accounts payable and accrued expenses	33,399	27,566
Amounts payable to affiliates	2,001	4,720
Intercompany payables	0	0
Participating preferred units derivative liability	28,258	29,470
Total liabilities	754,072	399,779
Capital
Limited partners, capital account	725,901	727,544
Accumulated other comprehensive income	9,508	75
Total partners' capital	5,835,040	5,870,203
Noncontrolling interest	0	0
Total capital	5,835,040	5,870,203
Total liabilities and equity/capital	6,589,112	6,269,982
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Common Units
Capital
General partner, capital account	4,198,313	4,241,266
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Preferred Shares/Units
Capital
General partner, capital account	901,318	901,318
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	198,132	198,023
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	0	140,000
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary)
Assets
Single-family properties, net	934	1,732
Cash and cash equivalents	0	0
Restricted cash	30	31
Rent and other receivables, net	3	57
Intercompany receivables	0	0
Escrow deposits, prepaid expenses and other assets, including due from affiliates	163	164
Investments in subsidiaries	116,533	115,303
Deferred costs and other intangibles, net	0	0
Goodwill	0	0
Total assets	117,663	117,287
Liabilities
Asset-backed securitizations, net	0	0
Unsecured senior notes, net	0
Exchangeable senior notes, net	112,597	111,697
Secured note payable	0	0
Accounts payable and accrued expenses	3,661	2,757
Amounts payable to affiliates	0	0
Intercompany payables	8,391	8,428
Participating preferred units derivative liability	0	0
Total liabilities	124,649	122,882
Capital
Limited partners, capital account	0	0
Accumulated other comprehensive income	0	0
Total partners' capital	(6,986)	(5,595)
Noncontrolling interest	0	0
Total capital	(6,986)	(5,595)
Total liabilities and equity/capital	117,663	117,287
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Common Units
Capital
General partner, capital account	(6,986)	(5,595)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Preferred Shares/Units
Capital
General partner, capital account	0	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	0	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	0	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Assets
Single-family properties, net	8,168,146	8,063,248
Cash and cash equivalents	29,722	23,999
Restricted cash	127,171	121,894
Rent and other receivables, net	27,965	29,973
Intercompany receivables	0	0
Escrow deposits, prepaid expenses and other assets, including due from affiliates	208,727	138,082
Investments in subsidiaries	0	0
Deferred costs and other intangibles, net	4,030	3,373
Goodwill	0	0
Total assets	8,565,761	8,380,569
Liabilities
Asset-backed securitizations, net	1,973,242	1,977,308
Unsecured senior notes, net	0
Exchangeable senior notes, net	0	0
Secured note payable	48,604	48,859
Accounts payable and accrued expenses	225,207	192,544
Amounts payable to affiliates	0	0
Intercompany payables	210,386	146,193
Participating preferred units derivative liability	0	0
Total liabilities	2,457,439	2,364,904
Capital
Limited partners, capital account	0	0
Accumulated other comprehensive income	0	0
Total partners' capital	6,109,682	6,017,014
Noncontrolling interest	(1,360)	(1,349)
Total capital	6,108,322	6,015,665
Total liabilities and equity/capital	8,565,761	8,380,569
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Common Units
Capital
General partner, capital account	6,109,682	6,017,014
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Preferred Shares/Units
Capital
General partner, capital account	0	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	0	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	0	0
American Homes 4 Rent, L.P. | Consolidating Adjustments
Assets
Single-family properties, net	0	0
Cash and cash equivalents	0	0
Restricted cash	0	0
Rent and other receivables, net	0	0
Intercompany receivables	(218,777)	(154,621)
Escrow deposits, prepaid expenses and other assets, including due from affiliates	0	0
Investments in subsidiaries	(6,095,726)	(6,004,449)
Deferred costs and other intangibles, net	0	0
Goodwill	0	0
Total assets	(6,314,503)	(6,159,070)
Liabilities
Asset-backed securitizations, net	0	0
Unsecured senior notes, net	0
Exchangeable senior notes, net	0	0
Secured note payable	0	0
Accounts payable and accrued expenses	0	0
Amounts payable to affiliates	0	0
Intercompany payables	(218,777)	(154,621)
Participating preferred units derivative liability	0	0
Total liabilities	(218,777)	(154,621)
Capital
Limited partners, capital account	0	0
Accumulated other comprehensive income	0	0
Total partners' capital	(6,095,726)	(6,004,449)
Noncontrolling interest	0	0
Total capital	(6,095,726)	(6,004,449)
Total liabilities and equity/capital	(6,314,503)	(6,159,070)
American Homes 4 Rent, L.P. | Consolidating Adjustments | Common Units
Capital
General partner, capital account	(6,095,726)	(6,004,449)
American Homes 4 Rent, L.P. | Consolidating Adjustments | Preferred Shares/Units
Capital
General partner, capital account	0	0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	0	0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	$ 0	$ 0

Condensed Consolidating Finan66

Condensed Consolidating Financial Statements - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Rents from single-family properties	$ 218,023	$ 201,107
Fees from single-family properties	2,833	2,604
Tenant charge-backs	35,807	28,373
Other	1,341	1,670
Total revenues	258,004	233,754
Expenses:
Property operating expenses	100,987	83,305
Property management expenses	18,987	17,478
General and administrative expense	9,231	9,295
Interest expense	29,301	31,889
Acquisition fees and costs expensed	1,311	1,096
Depreciation and amortization	79,303	73,953
Other	827	1,558
Total expenses	239,947	218,574
Gain on sale of single-family properties and other, net	2,256	2,026
Remeasurement of participating preferred units	1,212	(5,410)
Net income	21,525	11,796
Noncontrolling interest	1,114	(301)
Preferred distributions	14,597	13,587
Net income (loss) attributable to common shareholders/unitholders	5,814	(1,490)
American Homes 4 Rent, L.P.
Revenues:
Rents from single-family properties	218,023	201,107
Fees from single-family properties	2,833	2,604
Tenant charge-backs	35,807	28,373
Other	1,341	1,670
Total revenues	258,004	233,754
Expenses:
Property operating expenses	100,987	83,305
Property management expenses	18,987	17,478
General and administrative expense	9,231	9,295
Interest expense	29,301	31,889
Acquisition fees and costs expensed	1,311	1,096
Depreciation and amortization	79,303	73,953
Hurricane-related charges, net	0
Other	827	1,558
Total expenses	239,947	218,574
Intercompany income	0	0
Intercompany expenses	0	0
Gain on sale of single-family properties and other, net	2,256	2,026
Remeasurement of participating preferred units	1,212	(5,410)
Equity in income of subsidiaries	0	0
Net income	21,525	11,796
Noncontrolling interest	(11)	38
Preferred distributions	14,597	13,587
Redemption of participating preferred units	0
Net income (loss) attributable to common shareholders/unitholders	6,939	(1,829)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company)
Revenues:
Rents from single-family properties	0	0
Fees from single-family properties	0	0
Tenant charge-backs	0	0
Other	334	386
Total revenues	334	386
Expenses:
Property operating expenses	0	0
Property management expenses	0	0
General and administrative expense	5,937	4,994
Interest expense	6,257	3,328
Acquisition fees and costs expensed	0	355
Depreciation and amortization	297	409
Hurricane-related charges, net	0
Other	95	99
Total expenses	12,586	9,185
Intercompany income	451	76
Intercompany expenses	(57)	(148)
Gain on sale of single-family properties and other, net	0	3,031
Remeasurement of participating preferred units	1,212	(5,410)
Equity in income of subsidiaries	32,182	23,008
Net income	21,536	11,758
Noncontrolling interest	0	0
Preferred distributions	14,597	13,587
Redemption of participating preferred units	0
Net income (loss) attributable to common shareholders/unitholders	6,939	(1,829)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary)
Revenues:
Rents from single-family properties	22	102
Fees from single-family properties	0	1
Tenant charge-backs	3	7
Other	0	0
Total revenues	25	110
Expenses:
Property operating expenses	3	48
Property management expenses	3	6
General and administrative expense	1	2
Interest expense	1,835	1,774
Acquisition fees and costs expensed	0	0
Depreciation and amortization	0	2
Hurricane-related charges, net	0
Other	9	1
Total expenses	1,851	1,833
Intercompany income	0	0
Intercompany expenses	0	0
Gain on sale of single-family properties and other, net	435	(1,460)
Remeasurement of participating preferred units	0	0
Equity in income of subsidiaries	10,232	9,237
Net income	8,841	6,054
Noncontrolling interest	0	0
Preferred distributions	0	0
Redemption of participating preferred units	0
Net income (loss) attributable to common shareholders/unitholders	8,841	6,054
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Revenues:
Rents from single-family properties	218,001	201,005
Fees from single-family properties	2,833	2,603
Tenant charge-backs	35,804	28,366
Other	1,007	1,284
Total revenues	257,645	233,258
Expenses:
Property operating expenses	100,984	83,257
Property management expenses	18,984	17,472
General and administrative expense	3,293	4,299
Interest expense	21,209	26,787
Acquisition fees and costs expensed	1,311	741
Depreciation and amortization	79,006	73,542
Hurricane-related charges, net	0
Other	723	1,458
Total expenses	225,510	207,556
Intercompany income	57	148
Intercompany expenses	(451)	(76)
Gain on sale of single-family properties and other, net	1,821	455
Remeasurement of participating preferred units	0	0
Equity in income of subsidiaries	0	0
Net income	33,562	26,229
Noncontrolling interest	(11)	38
Preferred distributions	0	0
Redemption of participating preferred units	0
Net income (loss) attributable to common shareholders/unitholders	33,573	26,191
American Homes 4 Rent, L.P. | Consolidating Adjustments
Revenues:
Rents from single-family properties	0	0
Fees from single-family properties	0	0
Tenant charge-backs	0	0
Other	0	0
Total revenues	0	0
Expenses:
Property operating expenses	0	0
Property management expenses	0	0
General and administrative expense	0	0
Interest expense	0	0
Acquisition fees and costs expensed	0	0
Depreciation and amortization	0	0
Hurricane-related charges, net	0
Other	0	0
Total expenses	0	0
Intercompany income	(508)	(224)
Intercompany expenses	508	224
Gain on sale of single-family properties and other, net	0	0
Remeasurement of participating preferred units	0	0
Equity in income of subsidiaries	(42,414)	(32,245)
Net income	(42,414)	(32,245)
Noncontrolling interest	0	0
Preferred distributions	0	0
Redemption of participating preferred units	0
Net income (loss) attributable to common shareholders/unitholders	$ (42,414)	$ (32,245)

Condensed Consolidating Finan67

Condensed Consolidating Financial Statements - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Statement of Income Captions [Line Items]
Net income	$ 21,525	$ 11,796
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	0
Reclassification adjustment for amortization of interest expense included in net income	(120)	(28)
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income	0	(67)
Other comprehensive income (loss)	9,433	(95)
Comprehensive income	30,958	11,701
Comprehensive income (loss) attributable to noncontrolling interests	2,643	(283)
Preferred distributions	14,597	13,587
Comprehensive income (loss) attributable to common shareholders/unitholders	13,718	(1,603)
American Homes 4 Rent, L.P.
Condensed Statement of Income Captions [Line Items]
Net income	21,525	11,796
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	0
Reclassification adjustment for amortization of interest expense included in net income	(120)	(28)
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income	0	(67)
Other comprehensive income (loss)	9,433	(95)
Comprehensive income	30,958	11,701
Comprehensive income (loss) attributable to noncontrolling interests	(11)	38
Preferred distributions	14,597	13,587
Comprehensive income (loss) attributable to common shareholders/unitholders	16,372	(1,924)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company)
Condensed Statement of Income Captions [Line Items]
Net income	21,536	11,758
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553
Reclassification adjustment for amortization of interest expense included in net income	(120)	0
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income		(67)
Other comprehensive income (loss)	9,433	(67)
Comprehensive income	30,969	11,691
Comprehensive income (loss) attributable to noncontrolling interests	0	0
Preferred distributions	14,597	13,587
Comprehensive income (loss) attributable to common shareholders/unitholders	16,372	(1,896)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary)
Condensed Statement of Income Captions [Line Items]
Net income	8,841	6,054
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	0
Reclassification adjustment for amortization of interest expense included in net income	0	0
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income		0
Other comprehensive income (loss)	0	0
Comprehensive income	8,841	6,054
Comprehensive income (loss) attributable to noncontrolling interests	0	0
Preferred distributions	0	0
Comprehensive income (loss) attributable to common shareholders/unitholders	8,841	6,054
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income	33,562	26,229
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	0
Reclassification adjustment for amortization of interest expense included in net income	0	(28)
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income		0
Other comprehensive income (loss)	0	(28)
Comprehensive income	33,562	26,201
Comprehensive income (loss) attributable to noncontrolling interests	(11)	38
Preferred distributions	0	0
Comprehensive income (loss) attributable to common shareholders/unitholders	33,573	26,163
American Homes 4 Rent, L.P. | Consolidating Adjustments
Condensed Statement of Income Captions [Line Items]
Net income	(42,414)	(32,245)
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	0
Reclassification adjustment for amortization of interest expense included in net income	0	0
Gain on investment in equity securities:
Reclassification adjustment for realized gain included in net income		0
Other comprehensive income (loss)	0	0
Comprehensive income	(42,414)	(32,245)
Comprehensive income (loss) attributable to noncontrolling interests	0	0
Preferred distributions	0	0
Comprehensive income (loss) attributable to common shareholders/unitholders	$ (42,414)	$ (32,245)

Condensed Consolidating Finan68

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net cash provided by operating activities	$ 112,491	$ 110,037
Investing activities
Cash paid for single-family properties	(149,674)	(73,622)
Change in escrow deposits for purchase of single-family properties	(4,115)	(1,072)
Net proceeds received from sales of single-family properties and other	11,967	31,306
Proceeds received from hurricane-related insurance claims	4,000	0
Collections from mortgage financing receivables	0	70
Distributions from joint ventures	1,230	1,192
Initial renovations to single-family properties	(20,400)	(7,677)
Recurring and other capital expenditures for single-family properties	(11,167)	(6,484)
Other purchases of productive assets	(53,472)	(13,710)
Net cash used for investing activities	(221,631)	(69,997)
Financing activities
Proceeds from issuance of Class A common shares/units	0	350,612
Repurchase of Class A common shares/units	(34,969)	0
Share-based compensation payments, net	(414)
Share-based compensation proceeds, net		258
Payments on asset-backed securitizations	(5,312)	(6,231)
Payments on secured note payable	(255)	(245)
Settlement of cash flow hedging instrument	9,628	0
Distributions to common unitholders	(14,337)	(12,214)
Distributions to preferred unitholders	(14,597)	(13,587)
Net cash provided by financing activities	286,472	340,578
Net increase in cash, cash equivalents and restricted cash	177,332	380,618
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241
Cash, cash equivalents and restricted cash, end of period (see Note 3)	360,155	630,859
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(22,690)	(28,487)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	9,375	(951)
Accrued distributions to non-affiliates	25	0
Note receivable related to a bulk sale of properties, net of discount	0	5,483
Revolving Credit Facility
Financing activities
Proceeds from debt	100,000	0
Payments on credit facility	(240,000)	0
Class A common shares/units
Financing activities
Stock issuance costs	0	(236)
American Homes 4 Rent, L.P.
Operating activities
Net cash provided by operating activities	112,491	110,037
Investing activities
Cash paid for single-family properties	(149,674)	(73,622)
Change in escrow deposits for purchase of single-family properties	(4,115)	(1,072)
Net proceeds received from sales of single-family properties and other	11,967	31,306
Proceeds received from hurricane-related insurance claims	4,000	0
Collections from mortgage financing receivables	0	70
Distributions from joint ventures	1,230	1,192
Collections from intercompany notes		0
(Investment in) return of investment in subsidiaries	0	0
Initial renovations to single-family properties	(20,400)	(7,677)
Recurring and other capital expenditures for single-family properties	(11,167)	(6,484)
Other purchases of productive assets	(53,472)	(13,710)
Net cash used for investing activities	(221,631)	(69,997)
Financing activities
Proceeds from issuance of Class A common shares/units	0	350,612
Repurchase of Class A common shares/units	(34,969)	0
Share-based compensation payments, net	(414)
Share-based compensation proceeds, net		258
Payments on asset-backed securitizations	(5,312)	(6,231)
Payments on secured note payable	(255)	(245)
Settlement of cash flow hedging instrument	9,628	0
Payments on intercompany notes borrowed		0
Intercompany financing and distributions to parent	0	0
Distributions to common unitholders	(19,794)	(14,993)
Distributions to preferred unitholders	(14,597)	(13,587)
Payments of offering costs on unsecured senior notes	(5,025)
Net cash provided by financing activities	286,472	340,578
Net increase in cash, cash equivalents and restricted cash	177,332	380,618
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241
Cash, cash equivalents and restricted cash, end of period (see Note 3)	360,155	630,859
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(22,690)	(28,487)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	9,375	(951)
Transfer of term loan borrowings to revolving credit facility	8,693
Accrued distributions to affiliates	(2,719)
Accrued distributions to non-affiliates	25	0
Note receivable related to a bulk sale of properties, net of discount	0	5,483
American Homes 4 Rent, L.P. | Revolving Credit Facility
Financing activities
Proceeds from debt	100,000	0
Payments on credit facility	(240,000)	0
American Homes 4 Rent, L.P. | Line of Credit
Financing activities
Proceeds from debt		25,000
American Homes 4 Rent, L.P. | Class A common shares/units
Financing activities
Proceeds from issuance of Class A common shares/units		350,612
Stock issuance costs	0	(236)
Repurchase of Class A common shares/units	(34,969)
American Homes 4 Rent, L.P. | Unsecured Debt
Financing activities
Proceeds from debt	497,210
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company)
Operating activities
Net cash provided by operating activities	(68,398)	(7,999)
Investing activities
Cash paid for single-family properties	0	0
Change in escrow deposits for purchase of single-family properties	0	0
Net proceeds received from sales of single-family properties and other	0	14,265
Proceeds received from hurricane-related insurance claims	0
Collections from mortgage financing receivables		0
Distributions from joint ventures	180	280
Collections from intercompany notes		2,857
(Investment in) return of investment in subsidiaries	(57,488)	32,162
Initial renovations to single-family properties	0	0
Recurring and other capital expenditures for single-family properties	0	0
Other purchases of productive assets	0	(6,657)
Net cash used for investing activities	(57,308)	42,907
Financing activities
Share-based compensation payments, net	(414)
Share-based compensation proceeds, net		258
Payments on asset-backed securitizations	0	0
Payments on secured note payable	0	0
Settlement of cash flow hedging instrument	9,628
Payments on intercompany notes borrowed		0
Intercompany financing and distributions to parent	0	0
Distributions to common unitholders	(19,794)	(14,993)
Distributions to preferred unitholders	(14,597)	(13,587)
Payments of offering costs on unsecured senior notes	(5,025)
Net cash provided by financing activities	292,039	347,054
Net increase in cash, cash equivalents and restricted cash	166,333	381,962
Cash, cash equivalents and restricted cash, beginning of period	36,899	76,913
Cash, cash equivalents and restricted cash, end of period (see Note 3)	203,232	458,875
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(2,708)	(2,749)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	0	0
Transfer of term loan borrowings to revolving credit facility	0
Accrued distributions to affiliates	(2,719)
Accrued distributions to non-affiliates	25
Note receivable related to a bulk sale of properties, net of discount		5,483
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Revolving Credit Facility
Financing activities
Proceeds from debt	100,000
Payments on credit facility	(240,000)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Line of Credit
Financing activities
Proceeds from debt		25,000
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Class A common shares/units
Financing activities
Proceeds from issuance of Class A common shares/units		350,612
Stock issuance costs		(236)
Repurchase of Class A common shares/units	(34,969)
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Homes 4 Rent, L.P. (Parent Company) | Unsecured Debt
Financing activities
Proceeds from debt	497,210
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary)
Operating activities
Net cash provided by operating activities	12	(4,271)
Investing activities
Cash paid for single-family properties	0	0
Change in escrow deposits for purchase of single-family properties	0	0
Net proceeds received from sales of single-family properties and other	1,422	199
Proceeds received from hurricane-related insurance claims	0
Collections from mortgage financing receivables		0
Distributions from joint ventures	0	0
Collections from intercompany notes		0
(Investment in) return of investment in subsidiaries	9,002	15,757
Initial renovations to single-family properties	0	(1,549)
Recurring and other capital expenditures for single-family properties	(205)	0
Other purchases of productive assets	0	0
Net cash used for investing activities	10,219	14,407
Financing activities
Share-based compensation payments, net	0
Share-based compensation proceeds, net		0
Payments on asset-backed securitizations	0	0
Payments on secured note payable	0	0
Settlement of cash flow hedging instrument	0
Payments on intercompany notes borrowed		0
Intercompany financing and distributions to parent	(10,232)	(9,237)
Distributions to common unitholders	0	0
Distributions to preferred unitholders	0	0
Payments of offering costs on unsecured senior notes	0
Net cash provided by financing activities	(10,232)	(9,237)
Net increase in cash, cash equivalents and restricted cash	(1)	899
Cash, cash equivalents and restricted cash, beginning of period	31	62
Cash, cash equivalents and restricted cash, end of period (see Note 3)	30	961
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	0	(934)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	(12)	26
Transfer of term loan borrowings to revolving credit facility	0
Accrued distributions to affiliates	0
Accrued distributions to non-affiliates	0
Note receivable related to a bulk sale of properties, net of discount		0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Revolving Credit Facility
Financing activities
Proceeds from debt	0
Payments on credit facility	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Line of Credit
Financing activities
Proceeds from debt		0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Class A common shares/units
Financing activities
Proceeds from issuance of Class A common shares/units		0
Stock issuance costs		0
Repurchase of Class A common shares/units	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | American Residential Properties OP, L.P. (Guarantor Subsidiary) | Unsecured Debt
Financing activities
Proceeds from debt	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Operating activities
Net cash provided by operating activities	180,877	122,307
Investing activities
Cash paid for single-family properties	(149,674)	(73,622)
Change in escrow deposits for purchase of single-family properties	(4,115)	(1,072)
Net proceeds received from sales of single-family properties and other	10,545	16,842
Proceeds received from hurricane-related insurance claims	4,000
Collections from mortgage financing receivables		70
Distributions from joint ventures	1,050	912
Collections from intercompany notes		0
(Investment in) return of investment in subsidiaries	0	0
Initial renovations to single-family properties	(20,400)	(6,128)
Recurring and other capital expenditures for single-family properties	(10,962)	(6,484)
Other purchases of productive assets	(53,472)	(7,053)
Net cash used for investing activities	(223,028)	(76,535)
Financing activities
Share-based compensation payments, net	0
Share-based compensation proceeds, net		0
Payments on asset-backed securitizations	(5,312)	(6,231)
Payments on secured note payable	(255)	(245)
Settlement of cash flow hedging instrument	0
Payments on intercompany notes borrowed		(2,857)
Intercompany financing and distributions to parent	58,718	(38,682)
Distributions to common unitholders	0	0
Distributions to preferred unitholders	0	0
Payments of offering costs on unsecured senior notes	0
Net cash provided by financing activities	53,151	(48,015)
Net increase in cash, cash equivalents and restricted cash	11,000	(2,243)
Cash, cash equivalents and restricted cash, beginning of period	145,893	173,266
Cash, cash equivalents and restricted cash, end of period (see Note 3)	156,893	171,023
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(19,982)	(24,804)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	9,387	(977)
Transfer of term loan borrowings to revolving credit facility	8,693
Accrued distributions to affiliates	0
Accrued distributions to non-affiliates	0
Note receivable related to a bulk sale of properties, net of discount		0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Revolving Credit Facility
Financing activities
Proceeds from debt	0
Payments on credit facility	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Line of Credit
Financing activities
Proceeds from debt		0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Class A common shares/units
Financing activities
Proceeds from issuance of Class A common shares/units		0
Stock issuance costs		0
Repurchase of Class A common shares/units	0
American Homes 4 Rent, L.P. | Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | Unsecured Debt
Financing activities
Proceeds from debt	0
American Homes 4 Rent, L.P. | Consolidating Adjustments
Operating activities
Net cash provided by operating activities	0	0
Investing activities
Cash paid for single-family properties	0	0
Change in escrow deposits for purchase of single-family properties	0	0
Net proceeds received from sales of single-family properties and other	0	0
Proceeds received from hurricane-related insurance claims	0
Collections from mortgage financing receivables		0
Distributions from joint ventures	0	0
Collections from intercompany notes		(2,857)
(Investment in) return of investment in subsidiaries	48,486	(47,919)
Initial renovations to single-family properties	0	0
Recurring and other capital expenditures for single-family properties	0	0
Other purchases of productive assets	0	0
Net cash used for investing activities	48,486	(50,776)
Financing activities
Share-based compensation payments, net	0
Share-based compensation proceeds, net		0
Payments on asset-backed securitizations	0	0
Payments on secured note payable	0	0
Settlement of cash flow hedging instrument	0
Payments on intercompany notes borrowed		2,857
Intercompany financing and distributions to parent	(48,486)	47,919
Distributions to common unitholders	0	0
Distributions to preferred unitholders	0	0
Payments of offering costs on unsecured senior notes	0
Net cash provided by financing activities	(48,486)	50,776
Net increase in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period (see Note 3)	0	0
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	0	0
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	0	0
Transfer of term loan borrowings to revolving credit facility	0
Accrued distributions to affiliates	0
Accrued distributions to non-affiliates	0
Note receivable related to a bulk sale of properties, net of discount		0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Revolving Credit Facility
Financing activities
Proceeds from debt	0
Payments on credit facility	0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Line of Credit
Financing activities
Proceeds from debt		0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Class A common shares/units
Financing activities
Proceeds from issuance of Class A common shares/units		0
Stock issuance costs		$ 0
Repurchase of Class A common shares/units	0
American Homes 4 Rent, L.P. | Consolidating Adjustments | Unsecured Debt
Financing activities
Proceeds from debt	$ 0

Subsequent Events - Subsequent

Subsequent Events - Subsequent Acquisitions (Details) - Subsequent Event $ in Millions	1 Months Ended
	Apr. 30, 2018USD ($)property
Subsequent Event [Line Items]
Number of properties acquired	52
Purchase price to acquire real estate | $	$ 12.4
Number of internally developed properties developed	16

Subsequent Events - Redemptions

Subsequent Events - Redemptions (Details)	Apr. 05, 2018shares	Mar. 31, 2018$ / shares	Mar. 31, 2017	Dec. 31, 2017$ / shares
5.5% Series C Participating Preferred Shares
Subsequent Event [Line Items]
Preferred stock, dividend rate, percentage		5.50%	5.50%
Class A common shares/units
Subsequent Event [Line Items]
Common shares, par value (in dollars per share) | $ / shares		$ 0.01		$ 0.01
Subsequent Event | 5.5% Series C Participating Preferred Shares
Subsequent Event [Line Items]
Stock converted during period (in shares)	7,600,000
Subsequent Event | Class A common shares/units
Subsequent Event [Line Items]
Issuance of common shares, net of offering costs (in shares)	10,848,827
Stock exchange ratio	1.4275

Subsequent Events - Declaration

Subsequent Events - Declaration of Dividends (Details) - $ / shares	May 03, 2018	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Quarterly dividend (in dollars per share)		$ 0.05	$ 0.05
Class A common shares/units
Subsequent Event [Line Items]
Quarterly dividend (in dollars per share)		0.05	0.05
Class B common shares
Subsequent Event [Line Items]
Quarterly dividend (in dollars per share)		0.05
Series D Perpetual Preferred Shares/Units
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)		$ 0.41	0.41
Preferred stock, dividend rate, percentage		6.50%
Series E Perpetual Preferred Shares
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)		$ 0.40	$ 0.40
Preferred stock, dividend rate, percentage		6.35%
Series F Perpetual Preferred Shares
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)		$ 0.37
Preferred stock, dividend rate, percentage		5.875%
Series G Perpetual Preferred Shares
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)		$ 0.37
Preferred stock, dividend rate, percentage		5.875%
Subsequent Event | Class A common shares/units | Dividend Declared
Subsequent Event [Line Items]
Quarterly dividend (in dollars per share)	$ 0.05
Subsequent Event | Class B common shares
Subsequent Event [Line Items]
Quarterly dividend (in dollars per share)	0.05
Subsequent Event | Series D Perpetual Preferred Shares/Units | Dividend Declared
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)	$ 0.41
Preferred stock, dividend rate, percentage	6.50%
Subsequent Event | Series E Perpetual Preferred Shares | Dividend Declared
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)	$ 0.40
Preferred stock, dividend rate, percentage	6.35%
Subsequent Event | Series F Perpetual Preferred Shares | Dividend Declared
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)	$ 0.37
Preferred stock, dividend rate, percentage	5.875%
Subsequent Event | Series G Perpetual Preferred Shares | Dividend Declared
Subsequent Event [Line Items]
Quarterly preferred dividend (in dollars per share)	$ 0.37
Preferred stock, dividend rate, percentage	5.875%