American Homes 4 Rent (AMH) 10-K 22 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Feb. 20, 2019	Jun. 30, 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 Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 5.7
Class A common shares/units
Document Information
Entity Common Stock, Shares Outstanding		296,019,546
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 Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Single-family properties:
Land	$ 1,713,496	$ 1,665,631
Buildings and improvements	7,483,600	7,303,270
Single-family properties in operations, gross	9,197,096	8,968,901
Less: accumulated depreciation	(1,176,499)	(939,724)
Single-family properties in operation, net	8,020,597	8,029,177
Single-family properties under development and development land	153,651	51,938
Single-family properties held for sale, net	318,327	35,803
Total real estate assets, net	8,492,575	8,116,918
Cash and cash equivalents	30,284	46,156
Restricted cash	144,930	136,667
Rent and other receivables, net	29,027	30,144
Escrow deposits, prepaid expenses and other assets	146,034	119,913
Deferred costs and other intangibles, net	12,686	13,025
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	9,001,481	8,608,768
Liabilities
Asset-backed securitizations, net	1,961,511	1,977,308
Unsecured senior notes, net	492,800	0
Exchangeable senior notes, net	0	111,697
Secured note payable	0	48,859
Accounts payable and accrued expenses	219,229	222,867
Amounts payable to affiliates	4,967	4,720
Participating preferred shares derivative liability	0	29,470
Total liabilities	3,027,739	2,732,944
Commitments and contingencies
Shareholders' equity:
Preferred shares, $0.01 par value per share, 100,000,000 shares authorized, 35,350,000 and 38,350,000 shares issued and outstanding at December 31, 2018 and 2017, respectively	354	384
Additional paid-in capital	5,732,466	5,600,256
Accumulated deficit	(491,214)	(453,953)
Accumulated other comprehensive income	7,393	75
Total shareholders' equity	5,251,965	5,149,629
Limited partners:
Accumulated other comprehensive income	7,393	75
Noncontrolling interest	721,777	726,195
Total equity	5,973,742	5,875,824
Total liabilities and equity/capital	9,001,481	8,608,768
American Homes 4 Rent, L.P.
Single-family properties:
Land	1,713,496	1,665,631
Buildings and improvements	7,483,600	7,303,270
Single-family properties in operations, gross	9,197,096	8,968,901
Less: accumulated depreciation	(1,176,499)	(939,724)
Single-family properties in operation, net	8,020,597	8,029,177
Single-family properties under development and development land	153,651	51,938
Single-family properties held for sale, net	318,327	35,803
Total real estate assets, net	8,492,575	8,116,918
Cash and cash equivalents	30,284	46,156
Restricted cash	144,930	136,667
Rent and other receivables, net	29,027	30,144
Escrow deposits, prepaid expenses and other assets	145,807	119,913
Amounts due from affiliates	25,893	25,666
Deferred costs and other intangibles, net	12,686	13,025
Goodwill	120,279	120,279
Total assets	9,001,481	8,608,768
Liabilities
Asset-backed securitizations, net	1,961,511	1,977,308
Unsecured senior notes, net	492,800	0
Exchangeable senior notes, net	0	111,697
Secured note payable	0	48,859
Accounts payable and accrued expenses	219,229	222,867
Amounts payable to affiliates	4,967	4,720
Participating preferred shares derivative liability	0	29,470
Total liabilities	3,027,739	2,732,944
Commitments and contingencies
Shareholders' equity:
Accumulated other comprehensive income	8,786	75
Limited partners:
Accumulated other comprehensive income	8,786	75
Total partners' capital	5,973,742	5,877,173
Noncontrolling interest	0	(1,349)
Total capital	5,973,742	5,875,824
Total liabilities and equity/capital	9,001,481	8,608,768
American Homes 4 Rent, L.P. | Common Units
General partner:
General partner, capital account	4,390,137	4,248,236
Limited partners:
Limited partners, capital account	720,384	727,544
American Homes 4 Rent, L.P. | Preferred Shares/Units
General partner:
General partner, capital account	854,435	901,318
Class A common shares/units
Shareholders' equity:
Common stock, value, issued	2,960	2,861
Class B common shares
Shareholders' equity:
Common stock, value, issued	6	6
Term loan facility, net
Liabilities
Revolving credit facility and Term loan facility, net	99,232	198,023
Term loan facility, net | American Homes 4 Rent, L.P.
Liabilities
Revolving credit facility and Term loan facility, net	99,232	198,023
Revolving Credit Facility
Liabilities
Revolving credit facility and Term loan facility, net	250,000	140,000
Revolving Credit Facility | American Homes 4 Rent, L.P.
Liabilities
Revolving credit facility and Term loan facility, net	$ 250,000	$ 140,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 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 shares, shares issued (in shares)	35,350,000	38,350,000
Preferred shares, shares outstanding (in shares)	35,350,000	38,350,000
American Homes 4 Rent, L.P. | General Partner
Common units, shares/units issued (in shares)	296,649,621	286,749,712
Common units, shares/units outstanding (in shares)	296,649,621	286,749,712
Preferred units, shares/units issued (in shares)	35,350,000	38,350,000
Preferred units, shares/units outstanding (in shares)	35,350,000	38,350,000
American Homes 4 Rent, L.P. | Limited Partners
Common units, shares/units issued (in shares)	55,316,826	55,350,153
Common units, shares/units outstanding (in shares)	55,316,826	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)	286,114,637	242,740,482
Common stock, shares outstanding (in shares)	286,114,637	242,740,482
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

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total revenues	$ 1,072,855	$ 960,399	$ 878,889
Expenses:
General and administrative expense	36,575	34,732	33,068
Interest expense	122,900	112,620	130,847
Acquisition fees and costs expensed	5,225	4,623	11,443
Depreciation and amortization	318,685	297,290	298,677
Hurricane-related charges, net	0	7,963	0
Other	7,265	5,005	11,978
Total expenses	978,128	887,019	874,047
Gain on sale of single-family properties and other, net	17,946	6,826	14,569
Loss on early extinguishment of debt	(1,447)	(6,555)	(13,408)
Gain on conversion of Series E units	0	0	11,463
Remeasurement of participating preferred shares	1,212	2,841	(7,020)
Net income	112,438	76,492	10,446
Noncontrolling interest	4,165	(4,507)	3,751
Dividends on preferred shares/Preferred distributions	52,586	60,718	40,237
Redemption of participating preferred shares/units	32,215	42,416	0
Net income (loss) attributable to common shareholders/unitholders	$ 23,472	$ (22,135)	$ (33,542)
Weighted-average common shares/units outstanding:
Basic (in shares)	293,640,500	264,254,718	234,010,168
Diluted (in shares)	294,268,330	264,254,718	234,010,168
Net income (loss) attributable to common stockholders/unitholders per share/unit:
Basic (in dollars per share)	$ 0.08	$ (0.08)	$ (0.14)
Diluted (in dollars per share)	$ 0.08	$ (0.08)	$ (0.14)
Rents from single-family properties
Revenues:
Total revenues	$ 908,936	$ 824,023	$ 757,603
Fees from single-family properties
Revenues:
Total revenues	10,946	10,727	10,234
Tenant charge-backs
Revenues:
Total revenues	146,793	120,081	95,254
Other
Revenues:
Total revenues	6,180	5,568	15,798
Property operating expenses
Expenses:
Property operating and management expenses	412,905	355,074	317,310
Property management expenses
Expenses:
Property operating and management expenses	74,573	69,712	70,724
American Homes 4 Rent, L.P.
Revenues:
Total revenues	1,072,855	960,399	878,889
Expenses:
General and administrative expense	36,575	34,732	33,068
Interest expense	122,900	112,620	130,847
Acquisition fees and costs expensed	5,225	4,623	11,443
Depreciation and amortization	318,685	297,290	298,677
Hurricane-related charges, net	0	7,963	0
Other	7,265	5,005	11,978
Total expenses	978,128	887,019	874,047
Gain on sale of single-family properties and other, net	17,946	6,826	14,569
Loss on early extinguishment of debt	(1,447)	(6,555)	(13,408)
Gain on conversion of Series E units	0	0	11,463
Remeasurement of participating preferred shares	1,212	2,841	(7,020)
Net income	112,438	76,492	10,446
Noncontrolling interest	(259)	141	(562)
Dividends on preferred shares/Preferred distributions	52,586	60,718	40,237
Redemption of participating preferred shares/units	32,215	42,416	0
Income allocated to Series C and D limited partners	0	0	10,730
Net income (loss) attributable to common shareholders/unitholders	$ 27,896	$ (26,783)	$ (39,959)
Weighted-average common shares/units outstanding:
Basic (in shares)	348,990,561	319,753,206	277,912,532
Diluted (in shares)	349,618,391	319,753,206	277,912,532
Net income (loss) attributable to common stockholders/unitholders per share/unit:
Basic (in dollars per share)	$ 0.08	$ (0.08)	$ (0.14)
Diluted (in dollars per share)	$ 0.08	$ (0.08)	$ (0.14)
American Homes 4 Rent, L.P. | Rents from single-family properties
Revenues:
Total revenues	$ 908,936	$ 824,023	$ 757,603
American Homes 4 Rent, L.P. | Fees from single-family properties
Revenues:
Total revenues	10,946	10,727	10,234
American Homes 4 Rent, L.P. | Tenant charge-backs
Revenues:
Total revenues	146,793	120,081	95,254
American Homes 4 Rent, L.P. | Other
Revenues:
Total revenues	6,180	5,568	15,798
American Homes 4 Rent, L.P. | Property operating expenses
Expenses:
Property operating and management expenses	412,905	355,074	317,310
American Homes 4 Rent, L.P. | Property management expenses
Expenses:
Property operating and management expenses	$ 74,573	$ 69,712	$ 70,724

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income (loss)	$ 112,438	$ 76,492	$ 10,446
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	75	0
Reclassification adjustment for amortization of interest expense included in net income	(842)	(28)	130
Gain on investment in equity securities:
Unrealized gain on investment in equity securities	0	0	67
Reclassification adjustment for realized gain included in net income	0	(67)	0
Other comprehensive income (loss)	8,711	(20)	197
Comprehensive income (loss)	121,149	76,472	10,643
Comprehensive income (loss) attributable to noncontrolling interests	5,547	(4,504)	3,714
Dividends on preferred shares/Preferred distributions	52,586	60,718	40,237
Redemption of participating preferred shares/units	32,215	42,416	0
Comprehensive loss attributable to common shareholders/unitholders	30,801	(22,158)	(33,308)
American Homes 4 Rent, L.P.
Net income (loss)	112,438	76,492	10,446
Gain on cash flow hedging instruments:
Gain on settlement of cash flow hedging instrument	9,553	75	0
Reclassification adjustment for amortization of interest expense included in net income	(842)	(28)	130
Gain on investment in equity securities:
Unrealized gain on investment in equity securities	0	0	67
Reclassification adjustment for realized gain included in net income	0	(67)	0
Other comprehensive income (loss)	8,711	(20)	197
Comprehensive income (loss)	121,149	76,472	10,643
Comprehensive income (loss) attributable to noncontrolling interests	(259)	141	(562)
Dividends on preferred shares/Preferred distributions	52,586	60,718	40,237
Redemption of participating preferred shares/units	32,215	42,416	0
Income allocated to Series C and D limited partners	0	0	10,730
Comprehensive loss attributable to common shareholders/unitholders	$ 36,607	$ (26,803)	$ (39,762)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A common shares	Series C Preferred Stock	Common StockClass A common shares	Common StockSeries C Preferred Stock	Common StockClass B common shares	Preferred shares	Preferred sharesSeries C Preferred Stock	Additional paid-in capital	Additional paid-in capitalClass A common shares	Additional paid-in capitalSeries C Preferred Stock	Accumulated deficit	Accumulated deficitSeries C Preferred Stock	Accumulated other comprehensive income (loss)	Shareholders’ equity	Shareholders’ equityClass A common shares	Shareholders’ equitySeries C Preferred Stock	Noncontrolling interest	Noncontrolling interestClass A common shares
Beginning balances at Dec. 31, 2015	$ 3,935,233			$ 2,072		$ 6	$ 171		$ 3,554,063			$ (296,865)		$ (102)	$ 3,259,345			$ 675,888
Beginning balances (in shares) at Dec. 31, 2015				207,235,510		635,075	17,060,000
Increase (Decrease) in Stockholders' Equity
Share-based compensation	3,636								3,636						3,636
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	3,034			$ 2					3,032						3,034
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)				213,878
Issuance of Class A common shares and units	633,063			$ 414					613,835						614,249			18,814
Issuance of Class A common shares and units (in shares)				41,466,118
Issuance of perpetual preferred shares, net of offering costs	482,812						$ 199		482,613						482,812
Issuance of perpetual preferred shares, net of offering costs (in shares)							19,950,000
Redemptions of shares/units	(399)			$ 1					503						504			(903)
Redemptions of shares/units (in shares)				40,632
Repurchase of Class A common shares	(96,098)			$ (62)					(96,036)						(96,098)
Redemptions of Class A units (in shares)				(6,215,656)
Assumption of exchangeable senior notes	6,970								6,970						6,970
Conversion of preferred units	58,494																	58,494
Distributions to equity holders:
Preferred shares	(40,237)											(40,237)			(40,237)
Noncontrolling interests	(11,360)																	(11,360)
Common shares	(48,171)											(48,171)			(48,171)
Net income	10,446											6,695			6,695			3,751
Total other comprehensive income (loss)	197													197	197
Ending balances at Dec. 31, 2016	4,937,620			$ 2,427		$ 6	$ 370		4,568,616			(378,578)		95	4,192,936			744,684
Ending balances (in shares) at Dec. 31, 2016				242,740,482		635,075	37,010,000
Increase (Decrease) in Stockholders' Equity
Share-based compensation	4,212								4,212						4,212
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	800			$ 1					799						800
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)				101,174
Issuance of Class A common shares and units	683,861			$ 307					683,554						683,861
Issuance of Class A common shares and units (in shares)				30,676,080
Issuance of perpetual preferred shares, net of offering costs	260,645						$ 108		260,537						260,645
Issuance of perpetual preferred shares, net of offering costs (in shares)							10,800,000
Redemptions of shares/units	(169)			$ 2					2,711						2,713			(2,882)
Redemptions of shares/units (in shares)				198,625
Conversion of preferred units	37,441			$ 124			$ (94)		79,827			(42,416)			37,441
Conversion of preferred units (in shares)				12,398,276			(9,460,000)
Distributions to equity holders:
Preferred shares	(60,718)											(60,718)			(60,718)
Noncontrolling interests	(11,100)																	(11,100)
Common shares	(53,240)											(53,240)			(53,240)
Net income	76,492											80,999			80,999			(4,507)
Total other comprehensive income (loss)	(20)													(20)	(20)
Ending balances at Dec. 31, 2017	5,875,824			$ 2,861		$ 6	$ 384		5,600,256			(453,953)		75	5,149,629			726,195
Ending balances (in shares) at Dec. 31, 2017				286,114,637		635,075	38,350,000
Increase (Decrease) in Stockholders' Equity
Share-based compensation	3,433								3,433						3,433
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	11,947			$ 8					11,939						11,947
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)				821,918
Issuance of perpetual preferred shares, net of offering costs	110,978						$ 46		110,932						110,978
Issuance of perpetual preferred shares, net of offering costs (in shares)							4,600,000
Redemptions of shares/units		$ 0	$ 28,258	$ 0	$ 109			$ (76)		$ 515	$ 60,440		$ (32,215)			$ 515	$ 28,258		$ (515)
Redemptions of shares/units (in shares)				33,327	10,848,827			(7,600,000)
Repurchase of Class A common shares	(34,969)			$ (18)					(34,951)						(34,969)
Redemptions of Class A units (in shares)				(1,804,163)
Purchase of outside interests in RJ joint ventures	(241)											(1,849)			(1,849)			1,608
Assumption of exchangeable senior notes	(20,098)								(20,098)						(20,098)
Distributions to equity holders:
Preferred shares	(52,586)											(52,586)			(52,586)
Noncontrolling interests	(11,069)																	(11,069)
Common shares	(58,884)											(58,884)			(58,884)
Net income	112,438											108,273			108,273			4,165
Total other comprehensive income (loss)	8,711													7,318	7,318			1,393
Ending balances at Dec. 31, 2018	$ 5,973,742			$ 2,960		$ 6	$ 354		$ 5,732,466			$ (491,214)		$ 7,393	$ 5,251,965			$ 721,777
Ending balances (in shares) at Dec. 31, 2018				296,014,546		635,075	35,350,000

Consolidated Statement of Equit

Consolidated Statement of Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class A common shares/units
Offering costs	$ 9,200	$ 400	$ 0	$ 10,637	$ 227
Common Stock
Dividends declared on common shares (in dollars per unit)			$ 0.2	$ 0.2	$ 0.20
Common Stock | Class A common shares/units
Offering costs				$ 10,904
Preferred shares
Offering costs			$ 4,022	$ 9,355	$ 15,996

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Increase (Decrease) in Capital [Roll Forward]
Assumption of exchangeable senior notes					$ (20,098)		$ 6,970
Purchase of outside interests in RJ joint ventures					(241)
Distributions to equity holders:
Noncontrolling interests					(11,069)	$ (11,100)	(11,360)
Net income (loss)	$ 34,734	$ 21,525	$ 30,533	$ 11,796	112,438	76,492	10,446
Total other comprehensive income (loss)					8,711	(20)	197
American Homes 4 Rent, L.P.
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		5,875,824		4,937,620	5,875,824	4,937,620	3,935,233
Share-based compensation					3,433	4,212	3,636
Common units issued under share-based compensation plans, net of units withheld for employee taxes					11,947	800	3,034
Issuance of Class A units						683,861	633,063
Issuance of perpetual preferred units, net of offering costs of $9,355					110,978	260,645	482,812
Redemptions of Class A units						(169)	(399)
Repurchases of Class A units					(34,969)		(96,098)
Assumption of exchangeable senior notes					(20,098)		6,970
Purchase of outside interests in RJ joint ventures					(241)
Distributions to equity holders:
Preferred units					(52,586)	(60,718)	(40,237)
Series D convertible units							(856)
Noncontrolling interests					0	0	(230)
Common units					(69,953)	(64,340)	(58,445)
Net income (loss)	34,734	21,525	30,533	11,796	112,438	76,492	10,446
Total other comprehensive income (loss)					8,711	(20)	197
Total capital, ending balance	5,973,742		5,875,824		5,973,742	5,875,824	4,937,620
American Homes 4 Rent, L.P. | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					28,258
Conversions							0
American Homes 4 Rent, L.P. | Series E Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							58,494
American Homes 4 Rent, L.P. | Series D Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							0
American Homes 4 Rent, L.P. | Series A and Series B Preferred Stock
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units						37,441
American Homes 4 Rent, L.P. | Series A
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					0
American Homes 4 Rent, L.P. | Total partners' capital
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		5,877,173		4,939,110	5,877,173	4,939,110	3,935,931
Share-based compensation					3,433	4,212	3,636
Common units issued under share-based compensation plans, net of units withheld for employee taxes					11,947	800	3,034
Issuance of Class A units						683,861	633,063
Issuance of perpetual preferred units, net of offering costs of $9,355					110,978	260,645	482,812
Redemptions of Class A units						(169)	(399)
Repurchases of Class A units					(34,969)		(96,098)
Assumption of exchangeable senior notes					(20,098)		6,970
Purchase of outside interests in RJ joint ventures					(1,849)
Distributions to equity holders:
Preferred units					(52,586)	(60,718)	(40,237)
Series D convertible units							(856)
Common units					(69,953)	(64,340)	(58,445)
Net income (loss)					112,697	76,351	11,008
Total other comprehensive income (loss)					8,711	(20)	197
Total capital, ending balance	5,973,742		5,877,173		5,973,742	5,877,173	4,939,110
American Homes 4 Rent, L.P. | Total partners' capital | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					28,258
American Homes 4 Rent, L.P. | Total partners' capital | Series E Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							58,494
American Homes 4 Rent, L.P. | Total partners' capital | Series A and Series B Preferred Stock
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units						37,441
American Homes 4 Rent, L.P. | Total partners' capital | Series A
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					0
American Homes 4 Rent, L.P. | Accumulated other comprehensive income (loss)
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		75		95	75	95	(102)
Distributions to equity holders:
Total other comprehensive income (loss)					8,711	(20)	197
Total capital, ending balance	8,786		75		8,786	75	95
American Homes 4 Rent, L.P. | Noncontrolling interest
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		(1,349)		(1,490)	(1,349)	(1,490)	(698)
Purchase of outside interests in RJ joint ventures					1,608
Distributions to equity holders:
Noncontrolling interests					0	0	(230)
Net income (loss)					(259)	141	(562)
Total capital, ending balance	0		(1,349)		0	(1,349)	(1,490)
American Homes 4 Rent, L.P. | General Partner | Common Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		$ 4,248,236		$ 3,357,992	$ 4,248,236	$ 3,357,992	$ 2,907,410
Beginning balance (in shares)		286,749,712		243,375,557	286,749,712	243,375,557	207,870,585
Share-based compensation					$ 3,433	$ 4,212	$ 3,636
Common units issued under share-based compensation plans, net of units withheld for employee taxes					$ 11,947	$ 800	$ 3,034
Common units issued under share-based compensation plans, net of units withheld for employee taxes (in shares)					821,918	101,174	213,878
Issuance of Class A units						$ 683,861	$ 614,249
Issuance of Class A units (in shares)						30,676,080	41,466,118
Redemptions of Class A units						$ 2,713	$ 504
Redemptions of Class A units (in shares)						198,625	40,632
Repurchases of Class A units					$ (34,969)		$ (96,098)
Repurchases of Class A units (in shares)					(1,804,163)		(6,215,656)
Assumption of exchangeable senior notes					$ (20,098)		$ 6,970
Purchase of outside interests in RJ joint ventures					(1,849)
Distributions to equity holders:
Common units					(58,884)	$ (53,240)	(48,171)
Net income (loss)					55,687	20,281	(33,542)
Total capital, ending balance	$ 4,390,137		$ 4,248,236		$ 4,390,137	$ 4,248,236	$ 3,357,992
Ending balance (in shares)	296,649,621		286,749,712		296,649,621	286,749,712	243,375,557
American Homes 4 Rent, L.P. | General Partner | Common Units | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					$ 186,119
Redemptions of Class A units (in shares)					10,848,827
American Homes 4 Rent, L.P. | General Partner | Common Units | Series A and Series B Preferred Stock
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units						$ 231,617
Redemptions of Class A units (in shares)						12,398,276
American Homes 4 Rent, L.P. | General Partner | Common Units | Series A
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					$ 515
Redemptions of Class A units (in shares)					33,327
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		$ 901,318		$ 834,849	$ 901,318	$ 834,849	$ 352,037
Issuance of perpetual preferred units, net of offering costs of $9,355					110,978	260,645	482,812
Distributions to equity holders:
Preferred units					(52,586)	(60,718)	(40,237)
Net income (loss)					52,586	60,718	40,237
Total capital, ending balance	$ 854,435		$ 901,318		854,435	901,318	834,849
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					(157,861)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series A and Series B Preferred Stock
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units						(194,176)
American Homes 4 Rent, L.P. | Limited Partners | Common Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		$ 727,544		$ 746,174	$ 727,544	$ 746,174	$ 217,820
Beginning balance (in shares)		55,350,153		55,555,960	55,350,153	55,555,960	14,440,670
Issuance of Class A units							$ 18,814
Issuance of Class A units (in shares)							1,343,843
Redemptions of Class A units						$ (2,882)	$ (903)
Redemptions of Class A units (in shares)						(205,807)	(64,527)
Distributions to equity holders:
Common units					$ (11,069)	$ (11,100)	$ (10,274)
Net income (loss)					4,424	(4,648)	(6,417)
Total capital, ending balance	$ 720,384		$ 727,544		$ 720,384	$ 727,544	$ 746,174
Ending balance (in shares)	55,316,826		55,350,153		55,316,826	55,350,153	55,555,960
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							$ 396,606
Conversions (in shares)							31,085,974
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Series D Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							$ 130,528
Conversions (in shares)							8,750,000
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Series A
Increase (Decrease) in Capital [Roll Forward]
Redemptions of Class A units					$ (515)
Redemptions of Class A units (in shares)					(33,327)
American Homes 4 Rent, L.P. | Limited Partners | Preferred Shares/Units
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance		$ 0		$ 0	$ 0	$ 0	$ 458,766
Distributions to equity holders:
Series D convertible units							(856)
Net income (loss)						0	10,730
Total capital, ending balance			$ 0			$ 0	0
American Homes 4 Rent, L.P. | Limited Partners | Preferred Shares/Units | Series C Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							(396,606)
American Homes 4 Rent, L.P. | Limited Partners | Preferred Shares/Units | Series E Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							58,494
American Homes 4 Rent, L.P. | Limited Partners | Preferred Shares/Units | Series D Convertible Units
Increase (Decrease) in Capital [Roll Forward]
Conversions							$ (130,528)

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - American Homes 4 Rent, L.P. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Preferred Shares/Units
Offering costs	$ 4,022	$ 9,355	$ 15,996
Common Units
Offering costs		$ 10,904
Dividends declared on common shares (in dollars per unit)	$ 0.20	$ 0.20	$ 0.20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income (loss)	$ 112,438	$ 76,492	$ 10,446
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	318,685	297,290	298,677
Noncash amortization of deferred financing costs	7,788	8,163	10,475
Noncash amortization of discounts on debt instruments	3,547	3,549	4,564
Noncash amortization of cash flow hedging instrument	(842)	0	0
Noncash share-based compensation	3,433	4,212	3,636
Provision for bad debt	8,732	7,328	6,969
Hurricane-related charges, net	0	3,718	0
Loss on early extinguishment of debt	1,447	6,555	13,408
Gain on conversion of Series E units to Series D units	0	0	(11,463)
Remeasurement of participating preferred shares	(1,212)	(2,841)	7,020
Equity in net earnings of unconsolidated ventures	(546)	(1,642)	(860)
Net gain on sale of single-family properties and other	(17,946)	(6,826)	(14,569)
Loss on impairment of single-family properties	5,858	4,680	4,970
Net gain on resolutions of mortgage loans	0	(17)	(8,126)
Other changes in operating assets and liabilities:
Rent and other receivables	(12,172)	(11,020)	(9,704)
Prepaid expenses and other assets	(17,447)	(11,295)	(5,996)
Deferred leasing costs	(12,603)	(7,390)	(8,005)
Accounts payable and accrued expenses	11,772	9,814	(13,291)
Amounts payable to affiliates	(50)	5,191	(9,284)
Net cash provided by operating activities	410,882	385,961	278,867
Investing activities
Cash paid for single-family properties	(489,625)	(784,666)	(252,841)
Change in escrow deposits for purchase of single-family properties	1,818	(8,937)	(312)
Cash acquired in noncash business combinations	0	0	25,020
Payoff of credit facility in connection with ARPI merger	0	0	(350,000)
Net proceeds received from sales of single-family properties and other	106,157	87,063	88,590
Net proceeds received from sales of non-performing loans	0	0	47,186
Purchase of commercial office buildings	0	0	(27,105)
Proceeds received from hurricane-related insurance claims	4,522	0	0
Investment in unconsolidated joint ventures	(8,400)	0	0
Distributions from joint ventures	36,917	9,292	8,347
Collections from mortgage financing receivables	0	268	19,425
Initial renovations to single-family properties	(52,379)	(47,911)	(39,912)
Recurring and other capital expenditures for single-family properties	(54,465)	(37,540)	(27,807)
Cash paid for development activity	(215,797)	0	0
Other purchases of productive assets	(3,156)	(55,048)	(12,989)
Net cash used for investing activities	(674,408)	(837,479)	(522,398)
Financing activities
Proceeds from issuance of Class A common shares/units	0	694,765	102,830
Repurchase of Class A common shares/units	(34,969)	0	(96,098)
Share-based compensation proceeds, net	10,161	548	3,171
Redemptions of Class A units	0	(169)	(399)
Payments on asset-backed securitizations	(20,847)	(477,879)	(381,117)
Payments on secured note payable	(49,427)	(969)	(924)
Proceeds from unsecured senior notes, net of discount	497,210	0	0
Settlement of cash flow hedging instrument	9,628	0	0
Payments on exchangeable senior notes	(135,093)	0	0
Distributions to noncontrolling interests	(11,071)	(8,333)	(11,360)
Distributions to common shareholders	(58,370)	(38,901)	(48,171)
Distributions to preferred shareholders	(67,183)	(46,122)	(40,237)
Deferred financing costs paid	(5,100)	(3,974)	(10,476)
Net cash provided by financing activities	255,917	384,100	324,804
Net (decrease) increase in cash, cash equivalents and restricted cash	(7,609)	(67,418)	81,273
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241	168,968
Cash, cash equivalents and restricted cash, end of period (see Note 2)	175,214	182,823	250,241
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(105,056)	(100,908)	(115,814)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	1,921	7,964	(2,876)
Transfer of term loan borrowings to revolving credit facility	0	50,000	0
Transfer of deferred financing costs from term loan to revolving credit facility	0	1,524	0
Transfers of completed homebuilding deliveries to properties	94,212	4,536	0
Property and land contributions to an unconsolidated joint venture	(40,942)	0	0
Note receivable related to a bulk sale of properties, net of discount	0	5,710	0
Conversion of nonperforming loans to properties	0	0	3,554
Redemption of participating preferred shares	(28,258)	(37,499)	0
Accrued distributions to affiliates	71	4,720	0
Accrued distributions to non-affiliates	14,173	26,982	0
American Homes 4 Rent, L.P.
Operating activities
Net income (loss)	112,438	76,492	10,446
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	318,685	297,290	298,677
Noncash amortization of deferred financing costs	7,788	8,163	10,475
Noncash amortization of discounts on debt instruments	3,547	3,549	4,564
Noncash amortization of cash flow hedging instrument	(842)	0	0
Noncash share-based compensation	3,433	4,212	3,636
Provision for bad debt	8,732	7,328	6,969
Hurricane-related charges, net	0	3,718	0
Loss on early extinguishment of debt	1,447	6,555	13,408
Gain on conversion of Series E units to Series D units	0	0	(11,463)
Remeasurement of participating preferred shares	(1,212)	(2,841)	7,020
Equity in net earnings of unconsolidated ventures	(546)	(1,642)	(860)
Net gain on sale of single-family properties and other	(17,946)	(6,826)	(14,569)
Loss on impairment of single-family properties	5,858	4,680	4,970
Net gain on resolutions of mortgage loans	0	(17)	(8,126)
Other changes in operating assets and liabilities:
Rent and other receivables	(12,172)	(11,020)	(9,704)
Prepaid expenses and other assets	(17,447)	(11,295)	(5,996)
Deferred leasing costs	(12,603)	(7,390)	(8,005)
Accounts payable and accrued expenses	11,772	9,814	(13,291)
Amounts payable to affiliates	(50)	5,191	(9,284)
Net cash provided by operating activities	410,882	385,961	278,867
Investing activities
Cash paid for single-family properties	(489,625)	(784,666)	(252,841)
Change in escrow deposits for purchase of single-family properties	1,818	(8,937)	(312)
Cash acquired in noncash business combinations	0	0	25,020
Payoff of credit facility in connection with ARPI merger	0	0	(350,000)
Net proceeds received from sales of single-family properties and other	106,157	87,063	88,590
Net proceeds received from sales of non-performing loans	0	0	47,186
Purchase of commercial office buildings	0	0	(27,105)
Proceeds received from hurricane-related insurance claims	4,522	0	0
Investment in unconsolidated joint ventures	(8,400)	0	0
Distributions from joint ventures	36,917	9,292	8,347
Collections from mortgage financing receivables	0	268	19,425
Initial renovations to single-family properties	(52,379)	(47,911)	(39,912)
Recurring and other capital expenditures for single-family properties	(54,465)	(37,540)	(27,807)
Cash paid for development activity	(215,797)	0	0
Other purchases of productive assets	(3,156)	(55,048)	(12,989)
Net cash used for investing activities	(674,408)	(837,479)	(522,398)
Financing activities
Proceeds from issuance of Class A common shares/units	0	694,765	102,830
Proceeds from issuance of perpetual preferred shares/units	115,000	270,000	498,750
Repurchase of Class A common shares/units	(34,969)	0	(96,098)
Share-based compensation proceeds, net	10,161	548	3,171
Redemptions of Class A units	0	(169)	(399)
Payments on asset-backed securitizations	(20,847)	(477,879)	(381,117)
Payments on secured note payable	(49,427)	(969)	(924)
Proceeds from unsecured senior notes, net of discount	497,210	0	0
Settlement of cash flow hedging instrument	9,628	0	0
Payments on exchangeable senior notes	(135,093)	0	0
Distributions to noncontrolling interests	0	0	(230)
Distributions to common shareholders	(69,441)	(47,234)	(58,445)
Distributions to preferred shareholders	(67,183)	(46,122)	(40,237)
Deferred financing costs paid	(5,100)	(3,974)	(10,476)
Net cash provided by financing activities	255,917	384,100	324,804
Net (decrease) increase in cash, cash equivalents and restricted cash	(7,609)	(67,418)	81,273
Cash, cash equivalents and restricted cash, beginning of period	182,823	250,241	168,968
Cash, cash equivalents and restricted cash, end of period (see Note 2)	175,214	182,823	250,241
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(105,056)	(100,908)	(115,814)
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued expenses related to property acquisitions, renovations and construction	1,921	7,964	(2,876)
Transfer of term loan borrowings to revolving credit facility	0	50,000	0
Transfer of deferred financing costs from term loan to revolving credit facility	0	1,524	0
Transfers of completed homebuilding deliveries to properties	94,212	4,536	0
Note receivable related to a bulk sale of properties, net of discount	0	5,710	0
Conversion of nonperforming loans to properties	0	0	3,554
Redemption of participating preferred shares	(28,258)	(37,499)	0
Accrued distributions to affiliates	71	4,720	0
Accrued distributions to non-affiliates	14,173	26,982	0
American Residential Properties Inc.
Merger with ARPI
Single-family properties	0	0	1,277,253
Rent and other receivables, net	0	0	843
Escrow deposits, prepaid expenses and other assets	0	0	35,134
Deferred costs and other intangibles, net	0	0	22,696
Accounts payable and accrued expenses	0	0	(38,485)
American Residential Properties Inc. | American Homes 4 Rent, L.P.
Merger with ARPI
Single-family properties	0	0	1,277,253
Rent and other receivables, net	0	0	843
Escrow deposits, prepaid expenses and other assets	0	0	35,134
Deferred costs and other intangibles, net	0	0	22,696
Accounts payable and accrued expenses	0	0	(38,485)
Class A common shares and units issued	0	0	(530,460)
American Residential Properties Inc. | Asset-backed securitization
Merger with ARPI
Asset-backed securitization and Exchangeable senior notes, net	0	0	(329,703)
American Residential Properties Inc. | Asset-backed securitization | American Homes 4 Rent, L.P.
Merger with ARPI
Asset-backed securitization and Exchangeable senior notes, net	0	0	(329,703)
American Residential Properties Inc. | Exchangeable senior notes
Merger with ARPI
Asset-backed securitization and Exchangeable senior notes, net	0	0	(112,298)
American Residential Properties Inc. | Exchangeable senior notes | American Homes 4 Rent, L.P.
Merger with ARPI
Asset-backed securitization and Exchangeable senior notes, net	0	0	(112,298)
Term loan facility, net
Financing activities
Proceeds from credit facilities	0	25,000	325,000
Payments on credit facility	(100,000)	(100,000)	0
Term loan facility, net | American Homes 4 Rent, L.P.
Financing activities
Proceeds from credit facilities	0	25,000	325,000
Payments on credit facility	(100,000)	(100,000)	0
Revolving Credit Facility
Financing activities
Proceeds from credit facilities	405,000	202,000	951,000
Payments on credit facility	(295,000)	(112,000)	(951,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.
Financing activities
Proceeds from credit facilities	405,000	202,000	951,000
Payments on credit facility	(295,000)	(112,000)	(951,000)
Class A common shares/units
Financing activities
Stock issuance costs	0	(10,637)	(227)
Class A common shares/units | American Homes 4 Rent, L.P.
Financing activities
Stock issuance costs	0	(10,637)	(227)
Class A common shares/units | American Residential Properties Inc.
Merger with ARPI
Class A common shares and units issued	0	0	(530,460)
Preferred shares
Financing activities
Stock issuance costs	(4,022)	(9,229)	(15,938)
Proceeds from issuance of perpetual preferred shares/units	115,000	270,000	498,750
Preferred shares | American Homes 4 Rent, L.P.
Financing activities
Stock issuance costs	(4,022)	(9,229)	(15,938)
Series D Perpetual Preferred Shares/Units | American Homes 4 Rent, L.P.
Financing activities
Distributions to preferred shareholders	$ 0	$ 0	$ (856)

Organization and Operations

Organization and Operations	12 Months Ended
	Dec. 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 December 31, 2018 , the Company held 52,783 single-family properties in 22 states, including 1,945 properties classified as held for sale, compared to 51,239 single-family properties in 22 states, including 310 properties classified as held for sale, as of December 31, 2017 . AH4R is the general partner of, and as of December 31, 2018 , owned an approximate 84.3% common partnership interest in the Operating Partnership, with the remaining 15.7% 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	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The consolidated financial statements of the Company include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The 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") 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. The ownership interest in a consolidated subsidiary of the Company held by outside parties, which was liquidated during the second quarter of 2018, is included in noncontrolling interest within the consolidated financial statements. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board ("PCAOB"). In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made. Effective December 31, 2018, as a result of increasing development activity from our “built for rental” homebuilding program, all costs associated with single-family properties under development and development land have been reclassified into a separate balance sheet line item. This resulted in the reclassification of $51.9 million as of December 31, 2017, which was previously included in escrow deposits, prepaid expenses and other assets, into single-family properties under development and development land in the consolidated balance sheets. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes AH4R has elected to be taxed as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Accordingly, we will not be subject to U.S. federal income tax, provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and excluding net capital gains). However, qualification and taxation as a REIT depends upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax (including any applicable alternative minimum tax for taxable years beginning before December 31, 2017) on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Our taxable REIT subsidiaries (our "TRSs") will be subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2014 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership's partners, including AH4R, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full authority of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2018 , there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT we are required to distribute annually at least 90% of our REIT taxable income. We currently intend to distribute approximately 100% of our REIT taxable income. We expect to use our net operating loss carryforward ("NOL") to reduce our REIT taxable income in future years. As of December 31, 2018 , AH4R had a NOL for U.S. federal income tax purposes of approximately $275.0 million . Once our NOL is fully used, we may be required to increase AH4R’s distributions to comply with REIT distribution requirements and our current policy of distributing approximately all of our REIT taxable income. Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company generally engages a third-party valuation specialist to assist management in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions. The value of acquired lease-related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (less than one year). The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property. We incur costs to prepare our acquired properties for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred. Single-Family Properties Under Development and Development Land Land and construction in progress related to our third party developers (our "National Builder Program") and our internal construction program (our "AMH Development Program") are presented separately in single-family properties under development and development land within the consolidated balance sheets. We capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met. Single-family Properties Held for Sale and Discontinued Operations Single-family properties are classified as held for sale when they meet the applicable GAAP criteria, including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2018 and 2017 , the Company had 1,945 and 310 single-family properties, respectively, classified as held for sale, and recorded $5.9 million , $4.7 million and $5.0 million of impairment on single-family properties held for sale for the years ended December 31, 2018 , 2017 , and 2016, respectively, which was included in other expenses within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with Accounting Standards Update ("ASU") No. 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, " As of December 31, 2018 and 2017 , none of the properties classified as held for sale met the criteria to be reported as a discontinued operation. Impairment of Long-lived Assets We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date. No significant impairments on operating properties were recorded during the years ended December 31, 2018 , 2017 and 2016 , except for certain properties in our Houston, Florida and Southeast markets that were impacted by the hurricanes in the third quarter of 2017 (see Note 3 ). Leasing Costs Direct and indirect incremental costs incurred to lease properties are capitalized and amortized over the term of the leases, which generally have a term of one year. Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally 3 to 30 years. We consider the value of in-place leases in the allocation of the purchase price, and amortize such amounts on a straight-line basis over the remaining terms of the leases. The unamortized portion of the value of in-place leases is included in deferred costs and other intangibles, net within the consolidated balance sheets. Intangible Assets Finite-lived intangible assets are amortized on a straight-line basis over the asset's estimated economic life of 4.7 years for trademarks and 7.0 years for databases. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset. No impairment was recorded during the years ended December 31, 2018 , 2017 and 2016 . Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company's management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other , which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether an impairment test is necessary. This qualitative assessment requires judgment to be applied in evaluating the effects of multiple factors, including actual and projected financial performance of the reporting unit, industry and market conditions, macroeconomic conditions, and other relevant entity specific events. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. The impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds the fair value, the impairment loss is determined as the excess of the carrying amount of the goodwill reporting unit over the fair value of that goodwill, not to exceed the carrying amount. Impairment charges, if any, are recognized in operating results. No goodwill impairment was recorded during the years ended December 31, 2018 , 2017 and 2016 . Prior to our adoption of ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business , effective January 1, 2017, the Company allocated a portion of goodwill to the carrying values of our leased properties sold, calculated as the sales price of the leased property over the fair value of the Company's total portfolio of single-family properties, which resulted in a reduction to the gain on sale of the property. The amount of goodwill allocated to leased properties sold during the year ended December 31, 2016, was $0.4 million , which reduced goodwill to $120.3 million as of December 31, 2018 and 2017 . Deferred Financing Costs Financing costs related to the origination of the Company's debt instruments are deferred and amortized as interest expense on an effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company's revolving credit facility are presented net of accumulated amortization and have been included in deferred costs and other intangibles, net within the consolidated balance sheets. Financing costs related to the origination of the Company's term loan credit facility, unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets. 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 consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets: December 31, 2018 2017 2016 Balance Sheet: Cash and cash equivalents $ 30,284 $ 46,156 $ 118,799 Restricted cash 144,930 136,667 131,442 Statement of Cash Flows: Cash, cash equivalents and restricted cash $ 175,214 $ 182,823 $ 250,241 Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risk and rewards of ownership of the property are transferred and the purchase is finalized. Allowance for Doubtful Accounts We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of tenants to make required rent or other payments. This allowance is estimated based on, among other considerations, payment histories, overall delinquencies and available security deposits. The Company's allowance for doubtful accounts was $8.6 million and $10.4 million as of December 31, 2018 and 2017 , respectively, and was included in rent and other receivables, net within the consolidated balance sheets. Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. We accrue for property taxes and HOA assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, resident security deposits, construction liabilities, HOA fees and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure. Share-based Compensation Our 2012 Equity Incentive Plan is accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation expense related to options to purchase our Class A common shares and restricted stock units issued to members of the Company's board of trustees and employees is based on the fair value of the options and restricted stock units on the grant date and amortized over the service period. Fair Value of Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 —Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets; • Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The carrying amount of rent and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. Our revolving credit facility, term loan facility, asset-backed securitizations and secured note payable are also financial instruments, whose fair values were estimated using unobservable inputs 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 whose fair values were estimated using observable inputs, based on the market value of the last trade at the end of the period. The Company's participating preferred shares derivative liability and treasury lock were the only financial instruments recorded at fair value on a recurring basis within our consolidated financial statements (see Note 15 ). Derivatives From time to time, we may use interest rate cap agreements or other derivative instruments for interest rate risk management purposes. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense during the period in which the hedged transaction affects earnings. Segment Reporting Under the provision of ASC 280, Segment Reporting , the Company has determined that it has one reportable segment with activities related to acquiring, renovating, developing, leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level. The Company did not have any geographic market concentrations representing 10% or more of the total gross book value of single-family properties in operations as of December 31, 2018 . 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 of lease agreements. 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 indirect leasing costs, will no longer be capitalized and instead will be expensed as incurred. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements , which provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component if the non-lease components would otherwise be accounted for under the new revenue recognition standard and both the timing and pattern of transfer are the same for the non-lease components and associated lease component and, if accounted for separately, the lease component would be classified as an operating lease. As issued, ASU No. 2016-02 required modified retrospective application for all leases existing as of, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. ASU No. 2018-11 simplifies the transition requirements by providing companies an option to initially apply the new lease requirements as of the date of adoption and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The Company will not need to restate comparative periods if it elects the simplified transition requirements provided by ASU No. 2018-11. In December 2018, the FASB issued ASU No. 2018-20, Narrow-Scope Improvements for Lessors , which allows lessors to make an accounting policy election to exclude sales taxes and other similar taxes on lease transactions from lease revenue and the associated expense and requires lessors to exclude costs paid directly by lessees to third parties on the lessor’s behalf from lease revenue. The guidance is 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. The Company plans to elect both practical expedients permitted in ASU 2018-11 by combining lease and non-lease components for our residential operating leases and by applying the new guidance as of the date of adoption on January 1, 2019. We do not plan to restate comparative periods. The Company does not anticipate significant changes in the accounting for our residential operating leases for which we are the lessor. However, the adoption of this guidance will require us to recognize additional property management expenses for indirect leasing costs, which totaled $8.0 million for the year ended December 31, 2018 , that were capitalized as deferred leasing costs under our previous accounting policy. As of December 31, 2018 , we had $4.0 million of capitalized indirect leasing costs that we anticipate will be amortized during the following year. Additionally, the Company leases commercial office space for our corporate and property management offices under non-cancelable operating lease agreements and anticipates the adoption of this guidance will require us to recognize a $4.8 million right-of-use asset and a corresponding $4.8 million lease liability. 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

Real Estate Assets, Net

Real Estate Assets, Net	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Real Estate Assets, Net	Real Estate Assets, Net The net book values of real estate assets consisted of the following as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Leased single-family properties $ 7,513,634 $ 7,284,708 Single-family properties being renovated 83,661 225,194 Single-family properties being prepared for re-lease 61,013 47,994 Vacant single-family properties available for lease 362,289 471,281 Single-family properties in operation, net 8,020,597 8,029,177 Development land 97,207 39,079 Single-family properties under development 56,444 12,859 Single-family properties held for sale, net 318,327 35,803 Total real estate assets, net $ 8,492,575 $ 8,116,918 Single-family properties in operation, net as of December 31, 2018 and 2017 , included $5.9 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 $300.7 million , $281.2 million and $262.1 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. During the year ended December 31, 2018 , the Company sold 691 homes, which generated total net proceeds of $105.4 million and resulted in a net gain on sale of $16.3 million , and sold land, which generated total net proceeds of $0.8 million and resulted in a net gain on sale of $0.2 million . During the year ended December 31, 2017 , the Company sold 923 homes, which generated total net proceeds of $72.6 million and resulted in a net gain on sale of $3.6 million . Total net proceeds for the year ended December 31, 2017 , included a $7.0 million note receivable, before a $1.5 million discount, which is presented in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. During the year ended December 31, 2016 , the Company sold 712 homes, which generated total net proceeds of $88.6 million and resulted in a net gain on sale of $13.9 million . Prior to our adoption of ASU 2017-01 on January 1, 2017, in accordance with ASC 350, Intangibles—Goodwill and Other , the Company allocated a portion of goodwill to the carrying values of its leased properties sold, which resulted in a reduction to the gain on sale. The amount of goodwill allocated to leased properties sold during the year ended December 31, 2016 , was $0.4 million , which reduced goodwill to $120.3 million as of December 31, 2018 and 2017 . Hurricanes Harvey and Irma impacted certain properties in our Houston, Florida and Southeast markets during the third quarter of 2017. Approximately 125 homes sustained major damage and nearly 3,400 homes incurred minor damage, consisting primarily of downed trees and damaged roofs and fences. The Company’s property and casualty insurance policies provide coverage for wind and flood damage, as well as business interruption costs, during the period of remediation and repairs, subject to deductibles and limits. During the year ended December 31, 2017, the Company recognized an $11.0 million impairment charge to write down the net book values of the impacted properties, of which we believe it is probable that we will recover an estimated $8.9 million through insurance claims, and accrued $5.9 million of additional repair, remediation and other costs. The $8.0 million of net charges were included in hurricane-related charges, net within the consolidated statement of operations for the year ended December 31, 2017. After the $11.0 million impairment charge, the impacted properties had an aggregate net book value of $7.1 million . The impairment charge represents the difference between management’s estimates of the fair values of the impacted properties and their carrying values. The fair values were based on current market prices of the components of the properties that did not sustain damage. As these fair value measurements were estimated using unobservable inputs, we classify them within Level 3 of the valuation hierarchy. During the year ended December 31, 2018 , we collected $4.5 million in proceeds from hurricane-related insurance claims.

Rent and Other Receivables, Net

Rent and Other Receivables, Net	12 Months Ended
	Dec. 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 $8.6 million and $10.4 million , as of December 31, 2018 and 2017 , respectively. Also included in rent and other receivables, net, is $4.9 million of hurricane-related insurance claims receivable as of December 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 . The Company generally rents our single-family properties under non-cancelable lease agreements with a term of one year. Future minimum rental revenues under leases existing on our properties as of December 31, 2018 , were as follows (in thousands): Year 2019 $ 446,745 2020 4,857 2021 251 2022 98 2023 19 Total $ 451,970

Deferred Costs and Other Intang

Deferred Costs and Other Intangibles, Net	12 Months Ended
	Dec. 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 December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Deferred leasing costs $ 11,912 $ 7,030 Deferred financing costs 11,246 11,244 Intangible assets: Value of in-place leases — 179 Trademark — 3,100 Database 2,100 2,100 25,258 23,653 Less: accumulated amortization (12,572 ) (10,628 ) Total $ 12,686 $ 13,025 Amortization expense related to deferred leasing costs, the value of in-place leases, trademark and database was $11.0 million , $9.2 million and $31.2 million for the years ended December 31, 2018 , 2017 and 2016 , respectively, which has been included in depreciation and amortization within the 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 consolidated balance sheets. Amortization of deferred financing costs that relate to our revolving credit facility was $2.0 million , $1.8 million and $2.3 million for the years ended December 31, 2018 , 2017 and 2016 , respectively, which has been included in gross interest, prior to interest capitalization (see Note 7 ). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2018 , for future periods (in thousands): Year Deferred Leasing Costs Deferred Financing Costs Database Total 2019 $ 5,388 $ 1,964 $ 300 $ 7,652 2020 — 1,969 132 2,101 2021 — 1,965 — 1,965 2022 — 968 — 968 Total $ 5,388 $ 6,866 $ 432 $ 12,686

Escrow Deposits, Prepaid Expens

Escrow Deposits, Prepaid Expenses and Other Assets	12 Months Ended
	Dec. 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 the components of escrow deposits, prepaid expenses and other assets as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Escrow deposits, prepaid expenses and other $ 44,654 $ 33,964 Investments in joint ventures 56,789 42,341 Commercial real estate, vehicles and FF&E, net 44,591 43,608 Total $ 146,034 $ 119,913 In August 2018, the Operating Partnership entered into a $156.3 million joint venture with a leading institutional investor for the purpose of developing, leasing and operating newly constructed single-family rental homes located in select submarkets in the Southeast. The initial term of the joint venture is five years, during which the Company is entitled to a proportionate share of the joint venture’s cash flows based on our 20% ownership interest, along with an opportunity for a promoted interest, and also receives fees for services the Company provides to the joint venture. In evaluating the Company’s 20% ownership interest in the joint venture, we concluded that the joint venture is not a variable interest entity after applying the variable interest model and, therefore, we account for our interest in the joint venture as an investment in an unconsolidated subsidiary after applying the voting interest model using the equity method of accounting. During the year ended December 31, 2018 , the Company contributed $40.9 million of single-family properties and land, as well as $8.4 million of cash, to the joint venture and received $32.8 million in distributions from the joint venture in respect of its contributions.

Debt

Debt	12 Months Ended
	Dec. 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 December 31, 2018 and 2017 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2018 December 31, 2017 AH4R 2014-SFR2 securitization 4.42 % October 9, 2024 $ 491,195 $ 496,326 AH4R 2014-SFR3 securitization 4.40 % December 9, 2024 506,760 512,041 AH4R 2015-SFR1 securitization (2) 4.14 % April 9, 2045 532,197 537,723 AH4R 2015-SFR2 securitization (3) 4.36 % October 9, 2045 462,358 467,267 Total asset-backed securitizations 1,992,510 2,013,357 2028 notes (4) 4.08 % February 15, 2028 500,000 — Exchangeable senior notes (5) N/A N/A — 115,000 Secured note payable (6) N/A N/A — 48,859 Revolving credit facility (7) 3.70 % June 30, 2022 250,000 140,000 Term loan facility (8) 3.85 % June 30, 2022 100,000 200,000 Total debt (9) 2,842,510 2,517,216 Unamortized discount on unsecured and exchangeable notes (2,546 ) (895 ) Equity component of exchangeable senior notes — (2,408 ) Deferred financing costs, net (10) (36,421 ) (38,026 ) Total debt per balance sheet $ 2,803,543 $ 2,475,887 (1) Interest rates are as of December 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 2028 notes is 4.25% , which was effectively hedged to yield an interest rate of 4.08% . (5) The exchangeable senior notes were paid off in full during the fourth quarter of 2018. (6) The secured note payable was paid off in full during the second quarter of 2018. (7) 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 December 31, 2018 , plus 1-month LIBOR. (8) The term loan component of our credit facility matures 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 December 31, 2018 , plus 1-month LIBOR. (9) 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 December 31, 2018 and 2017 . (10) Deferred financing costs relate to our asset-backed securitizations, unsecured senior notes and term loan facility. Amortization of deferred financing costs was $5.8 million , $6.4 million and $8.5 million for the years ended December 31, 2018 , 2017 and 2016 , respectively, which has been included in gross interest, prior to interest capitalization. Early Extinguishment of Debt During the year ended December 31, 2018, the Company paid off the outstanding principal on the secured note payable of approximately $48.4 million , which resulted in $0.5 million of charges that were included in loss on early extinguishment of debt within the consolidated statements of operations. The payoff of the secured note payable also resulted in the release of the 572 homes pledged as collateral and $2.1 million of restricted cash for lender requirements. Also during 2018, the Company paid down $100.0 million on our term loan facility, which resulted in $0.9 million of charges related to the write-off of unamortized deferred financing costs that were included in loss on early extinguishment of debt within the consolidated statements of operations. During the year ended December 31, 2017, the Company paid off the outstanding principal on the AH4R 2014-SFR1 asset-backed securitization of approximately $455.4 million using proceeds from the Class A common share offering in the first quarter of 2017 and available cash, which resulted in $6.6 million of charges primarily related to the write-off of unamortized deferred financing costs. The payoff of the AH4R 2014-SFR1 asset-backed securitization also resulted in the release of the 3,799 homes pledged as collateral and $9.4 million of restricted cash for lender requirements. During the year ended December 31, 2016, the Company paid off the ARP 2014-SFR1 asset-backed securitization using available cash and borrowings from our credit facilities, which resulted in a $10.7 million charge related to the write-off of the discount on the securitization. The payoff of the ARP 2014-SFR1 asset-backed securitization also resulted in the release of the 2,875 homes pledged as collateral and $10.1 million of restricted cash for lender requirements. Also during 2016, the Company terminated our previous credit facility, which resulted in $2.7 million of charges related to the write-off of unamortized deferred financing costs. The charges resulting from early extinguishment of debt were included in loss on early extinguishment of debt within the consolidated statements of operations. Debt Maturities The following table summarizes the contractual maturities of the Company's principal debt balances on a fully extended basis as of December 31, 2018 (in thousands): 2019 $ 20,714 2020 20,714 2021 20,714 2022 370,714 2023 20,714 Thereafter 2,388,940 Total debt 2,842,510 Unamortized discount and deferred financing costs (1) (38,967 ) Total debt per balance sheet $ 2,803,543 (1) Includes the unamortized discount of the unsecured senior notes and deferred financing costs, net. Encumbered Properties The following table displays the number of properties pledged as collateral for the Company's asset-backed securitization loans and secured note payable and the aggregate net book values as of December 31, 2018 and 2017 (in thousands, except property data): As of December 31, 2018 As of December 31, 2017 Number of Properties Net Book Value Number of Properties Net Book Value AH4R 2014-SFR2 securitization (1) 4,546 $ 611,279 4,481 $ 627,988 AH4R 2014-SFR3 securitization (2) 4,588 662,068 4,499 680,788 AH4R 2015-SFR1 securitization (3) 4,697 662,202 4,658 685,055 AH4R 2015-SFR2 securitization (4) 4,178 612,835 4,124 635,612 Secured note payable — — 572 71,868 Total encumbered properties 18,009 $ 2,548,384 18,334 $ 2,701,311 (1) During the years ended December 31, 2018 and 2017 , the Company substituted 65 and zero properties, respectively, and had zero and 3 properties that were disqualified for a total release price of $0.0 million and $0.4 million , respectively, which was used to pay down the principal balance on the loan. (2) During the years ended December 31, 2018 and 2017 , the Company substituted 89 and zero properties, respectively, and had zero and 4 properties that were disqualified for a total release price of $0.0 million and $0.5 million , respectively, which was used to pay down the principal balance on the loan. (3) During the years ended December 31, 2018 and 2017 , the Company substituted 39 and zero properties, respectively, and had zero and 2 properties that were disqualified for a total release price of $0.0 million and $0.2 million , respectively, which was used to pay down the principal balance on the loan. (4) During the year ended December 31, 2018 , the Company substituted 55 properties and had 1 property that was disqualified for a total release price of $0.1 million , which was used to pay down the principal balance on the loan. 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, which commenced 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 offering costs of $1.9 million . The net proceeds from this issuance were used 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 were initially guaranteed by American Residential Properties OP, L.P., (the “Guarantor Subsidiary”), a 100% owned subsidiary of the Operating Partnership, but such guarantee was automatically released during the fourth quarter of 2018 contemporaneously with the Guarantor Subsidiary's release of its guarantee of our credit facility. Including the effect of a cash flow hedging instrument settled in February 2018 (see Note 15 ), the 2028 Notes yield an effective interest rate of 4.08% . Asset-backed Securitizations General Terms As of December 31, 2018 , the Company has completed multiple asset-backed securitizations, all of which have certain general characteristics in common. The asset-backed securitization transactions resulted in newly-formed special purpose entities (the “Borrowers”), which entered into loans with third-party lenders. The Borrowers are each wholly owned by respective special purpose entities (the “Equity Owners”), which are wholly owned by the Operating Partnership. The loans were represented by promissory notes that were immediately transferred by the third-party lenders to subsidiaries of the Company and then to REMIC trusts in exchange for single-family rental pass-through certificates representing all the beneficial ownership interests in the respective loans and trusts. Upon receipt of the certificates, the subsidiaries sold the certificates to investors. The principal amount of each class of certificates corresponds to the corresponding principal amount of the loan components with an additional class to hold the residual REMIC interest. The loans require monthly payments of interest together with principal payments representing one-twelfth of one percent of the original principal amount of the loans. The loans are secured by first priority mortgages on pools of single-family residential properties transferred to the Borrowers from the Company’s portfolio of properties. The Borrowers’ homes were substantially similar to the other properties owned by the Company and were leased to tenants underwritten on substantially the same basis as the tenants in the Company’s other properties. During the duration of the loans, the Borrowers’ properties may not generally be transferred, sold or otherwise securitized and the Company can substitute properties if a property owned by the Borrowers becomes a disqualified property under the terms of the loan or voluntarily with properties eligible for substitution, in limited circumstances, subject to the terms, conditions and limitations provided in the loan agreements. The loans are also secured by a security interest in all of the Borrowers’ personal property and a pledge of all of the assets of the Equity Owners, including a security interest in their membership interests in the Borrowers. The Company provides a limited guaranty (i) for certain losses arising out of designated acts of intentional misconduct and (ii) for the principal amount of the loans and all other obligations under the loan agreements in the event of insolvency or bankruptcy proceedings. The Company has accounted for the transfers of the notes from its subsidiaries to the trusts as sales under ASC 860, Transfers and Servicing , with no resulting gain or loss as the notes were both originated by the third party lenders and immediately transferred at the same fair market value. The Company has also evaluated and not identified any variable interests in the trusts. Accordingly, the Company consolidates, at historical cost basis, the homes placed as collateral for the notes, and the principal balances outstanding on the notes are included in asset-backed securitizations, net within the consolidated balance sheets. The loan agreements provide that the Borrowers maintain covenants typical for securitization transactions including maintaining certain reserve accounts and a debt service coverage ratio of at least 1.20 to 1.00. The loan agreements define the debt service coverage ratio as of any determination date as a ratio in which the numerator is the net cash flow divided by the aggregate debt service for the 12-month period following the date of determination. As of December 31, 2018 and 2017 , the Company was in compliance with all covenants under the loan agreements. AH4R 2014-SFR1 Securitization The AH4R 2014-SFR1 securitization, which was completed in May 2014, was a two -year, floating rate loan for $481.0 million , comprised of six floating rate components computed monthly based on 1-month LIBOR for each interest period plus a fixed component spread for each of the six components resulting in a duration-weighted blended interest rate of LIBOR plus 1.54% , subject to a LIBOR floor of 0.25% . In addition, the Company entered into an interest rate cap agreement for the initial two year term of the loan, with a LIBOR based strike rate equal to 3.85% . The loan had three , 12 -month extensions at the Borrower's option, resulting in a fully extended maturity date of June 9, 2019. The loan was originally secured by first priority mortgages on a pool of 3,852 single-family residential properties. Gross proceeds from the transaction were $481.0 million , before issuance costs of $14.9 million , and were used to pay down the outstanding balance on the credit facility. During the second quarter of 2017, the Company paid off the AH4R 2014-SFR1 asset-backed securitization in full. AH4R 2014-SFR2 Securitization The AH4R 2014-SFR2 securitization, which was completed in September 2014, is a fixed-rate loan for $513.3 million with a 10 -year term, maturity date of October 9, 2024, and a duration-adjusted weighted-average interest rate of 4.42% . The loan was originally secured by first priority mortgages on a portfolio of 4,487 single-family residential properties. Also, in addition to the single-family rental pass-through certificates sold to third parties, the Company acquired all of the Class F certificates, which bear no interest, for $25.7 million . The Company has evaluated the purchased Class F certificates as a variable interest in the trust and has concluded that the Class F certificates will not absorb a majority of the trust's expected losses or receive a majority of the trust's expected residual returns. Additionally, the Company has concluded that the Class F certificates do not provide the Company with any ability to direct activities that could impact the trust's economic performance. The Company does not consolidate the trust and the $25.7 million of purchased Class F certificates have been reflected as asset-backed securitization certificates in the Company's consolidated balance sheets and as amounts due from affiliates in the Operating Partnership's consolidated balance sheets. Gross proceeds to the Company from the transaction, after purchase of the Class F certificates, were $487.7 million , before issuance costs of $12.9 million , and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2014-SFR3 Securitization The AH4R 2014-SFR3 securitization, which was completed in November 2014, is a fixed-rate loan for $528.4 million with a 10 -year term, maturity date of December 9, 2024, and a duration-adjusted weighted-average interest rate of 4.40% . The loan was originally secured by first priority mortgages on a portfolio of 4,503 single-family residential properties owned by the Borrower. Gross proceeds from the transaction were $528.4 million , before issuance costs of $12.9 million , and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2015-SFR1 Securitization The AH4R 2015-SFR1 securitization, which was completed in March 2015, is a fixed-rate loan for $552.8 million with a 30 -year term, maturity date of April 9, 2045, and a duration-adjusted weighted-average interest rate of 4.14% . The loan was originally secured by first priority mortgages on a pool of 4,661 single-family residential properties owned by the Borrower and has an anticipated repayment date of April 9, 2025. Gross proceeds from the transaction were $552.8 million , before issuance costs of $13.3 million , and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2015-SFR2 Securitization The AH4R 2015-SFR2 securitization, which was completed in September 2015, is a fixed-rate loan for $477.7 million with a 30 -year term, maturity date of October 9, 2045, and a duration-adjusted weighted-average interest rate of 4.36% . The loan was originally secured by first priority mortgages on a portfolio of 4,125 single-family residential properties owned by the Borrower and has an anticipated repayment date of October 9, 2025. Gross proceeds from the transaction were $477.7 million , before issuance costs of $11.3 million , and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. Exchangeable Senior Notes, Net In connection with the ARPI Merger on February 29, 2016 (see Note 11 ), the Company assumed $115.0 million of 3.25% exchangeable senior notes due November 15, 2018. The exchangeable senior notes were senior unsecured obligations of the Operating Partnership and ranked equally in right of payment with all other existing and future senior unsecured indebtedness of the Operating Partnership. Interest was payable in arrears on May 15 and November 15 of each year, which began on May 15, 2016, until the maturity date. The Operating Partnership’s obligations under the exchangeable senior notes were fully and unconditionally guaranteed by a subsidiary of the Company. The exchangeable senior notes were subject to interest at a rate of 3.25% per annum and contained an exchange settlement feature, which provided that the exchangeable senior notes could, under certain circumstances, be exchangeable for cash, the Company's Class A common shares or a combination of cash and the Company's 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. 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 the Company's shares resulting from the ARPI Merger. The exchange rate as of November 15, 2018 , at maturity, was 55.6688 of the Company's Class A common shares per $1,000 principal amount of the notes. The exchange rate was adjusted based on the Company's Class A common share price and distributions to common shareholders. Prior to the close of business on the business day immediately preceding August 15, 2018, the notes were exchangeable at the option of the holders only under the following circumstances: (1) during any calendar quarter beginning after December 31, 2013 (and only during such quarter) if the closing sale price per share of our common stock was more than 130% of the then-current exchange price for at least 20 trading days (whether or not consecutive) in the period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter; (2) during the 5 consecutive business-day period following any 5 consecutive trading-day period in which the trading price per $1,000 principal amount of notes was less than 98% of the product of the closing sale price per share of our common stock multiplied by the then-current exchange rate; or (3) upon the occurrence of specified corporate transactions described in the indenture. On or after August 15, 2018, the notes were exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date. The fair value of the exchangeable senior notes, which was calculated using a binomial lattice model at the time of assumption, was $112.3 million , representing the $115.0 million face value less a discount of $2.7 million , which was amortized using the effective interest method over the term of the notes. The amount recorded to exchangeable senior notes, net at the time of assumption was $105.3 million , representing the fair value of $112.3 million , less the fair value of the exchange settlement feature of the notes of $7.0 million , which was calculated using a straight-debt rate of 6.7% at the time of assumption. The fair value of the exchange settlement feature was amortized using the effective interest method over the term of the notes. The Operating Partnership elected the cash settlement option for settlement of the exchangeable senior notes, which resulted in an aggregate payment of $135.1 million to the holders of the notes at maturity on November 15, 2018 , based on the sum of the daily exchange values of the Company’s Class A common shares for 40 consecutive trading days, beginning 42 trading days prior to maturity. The daily exchange values were calculated as the volume weighted average price of the Company’s Class A common shares multiplied by the current exchange rate for each of the trading days. $115.0 million of the total $135.1 million settlement consideration was allocated to the extinguishment of the liability component based on the fair value of the liability component immediately prior to extinguishment, which was equal to the carrying amount of the liability component. The remaining $20.1 million of settlement consideration was allocated to the reacquisition of the equity component and recognized as a reduction to additional paid-in capital within the Company's consolidated balance sheets and a reduction to general partner's common capital within the Operating Partnership's consolidated balance sheets. Secured Note Payable In December 2014, as part of the Company's bulk portfolio acquisition of 914 homes, (the "Ellington Portfolio Acquisition"), the Company assumed a $51.6 million secured note payable, which was secured by a first priority mortgage on 583 of the acquired homes, was subject to interest at 4.06% , had a maturity date of July 1, 2019, and contained certain required covenants, including a minimum debt service coverage ratio of 1.47 to 1.00. During the second quarter of 2018, the Company paid off the outstanding principal on the secured note payable of approximately $48.4 million , which resulted in $0.5 million of charges that were included in loss on early extinguishment of debt within the consolidated statements of operations. Credit Facilities During 2016, the Company entered into a $1.0 billion credit agreement, which was subsequently amended in June 2017. The amendment expanded our borrowing capacity on the revolving credit facility to $800.0 million and reduced the term loan facility to $200.0 million . The amendment also lowered our cost of borrowing and provides a more flexible borrowing structure. The interest rate on the revolving credit facility is, at the Company’s election, 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% . Borrowings under the term loan facility accrue interest, at the Company’s election, at either a LIBOR rate plus a margin ranging from 0.90% to 1.75% or a base rate plus a margin ranging from 0.00% to 0.75% . In each case, the actual margin is determined based on the Company's credit ratings in effect from time to time. Based on current corporate ratings for LIBOR-based borrowings as of December 31, 2018 , the revolving credit facility bears interest at 1-month LIBOR plus 1.20% , and the term loan facility bears interest at 1-month LIBOR plus 1.35% . The credit agreement includes an accordion feature allowing the revolving credit facility or the term loan facility to be increased to an aggregate amount not to exceed $1.75 billion , subject to certain conditions. The revolving credit facility matures on June 30, 2021, with two six -month extension options at the Company's election upon payment of an extension fee, and the term loan facility matures on June 30, 2022. No amortization payments are required on the term loan facility prior to the maturity date. The credit agreement requires that we maintain certain financial covenants. As of December 31, 2018 , the Company had $250.0 million of outstanding borrowings against the revolving credit facility, $100.0 million of outstanding borrowings against the term loan facility and was in compliance with all loan covenants . Interest Expense The following table displays our total gross interest, which includes fees on our credit facilities and amortization of deferred financing costs, discounts on debt and the fair value of the exchange settlement feature of the exchangeable senior notes, and capitalized interest for the years ended December 31, 2018 , 2017 and 2016 (in thousands): For the Years Ended December 31, 2018 2017 2016 Gross interest cost $ 129,571 $ 118,276 $ 133,137 Capitalized interest (6,671 ) (5,656 ) (2,290 ) Interest expense $ 122,900 $ 112,620 $ 130,847

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 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 December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Accounts payable $ 195 $ 1,726 Accrued property taxes 40,566 47,765 Other accrued liabilities 41,376 31,788 Accrued distribution payable 12,809 26,982 Accrued construction and maintenance liabilities 18,371 17,928 Resident security deposits 83,406 75,951 Prepaid rent 22,506 20,727 Total $ 219,229 $ 222,867

Shareholders' Equity _ Partners

Shareholders' Equity / Partners' Capital	12 Months Ended
	Dec. 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. Class A Common Shares / Units Class A units represent voting equity interests in the Operating Partnership. Holders of Class A units in the Operating Partnership have the right to redeem the units for cash or, at the election of the Company, exchange the units for AH4R's Class A common shares on a one -for-one basis. AH4R owned 84.3% and 83.8% of the total 351,966,447 and 342,099,865 Class A units outstanding as of December 31, 2018 and 2017 , respectively. During the third quarter of 2017, the Company issued 13,800,000 Class A common shares of beneficial interest, $0.01 par value per share, in an underwritten public offering, raising gross proceeds of $312.0 million before offering costs of approximately $9.2 million . The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. During the first quarter of 2017, the Company issued 14,842,982 Class A common shares of beneficial interest, $0.01 par value per share, in an underwritten public offering and concurrent private placement, raising gross proceeds to the Company of $336.5 million after underwriter's discount and before offering costs of approximately $0.4 million . The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. During the first quarter of 2016, the Company issued 36,546,170 Class A common shares, $0.01 par value per share, in connection with the ARPI Merger. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the transaction consideration. During the first quarter of 2016, the Operating Partnership also issued 1,343,843 Class A units to certain former ARPI employees in connection with the ARPI Merger (see Note 11 ). At-the-Market Common Share Offering Program During the fourth quarter of 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 year ended December 31, 2017 , the Company issued and sold 2.0 million Class A common shares under the Original At-the-Market Program for gross proceeds of $46.2 million , or $22.74 per share, and net proceeds of $45.6 million , after commissions and other expenses of approximately $0.6 million . During the year ended December 31, 2016 , the Company issued and sold 4.9 million Class A common shares for gross proceeds of $104.0 million , or $21.13 per share, and net proceeds of $102.8 million , after commissions and other expenses of approximately $1.2 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 during the third quarter of 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 December 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 During the third quarter of 2015, the Company announced that its board of trustees approved a share repurchase program (the "Original Share Repurchase Program") authorizing us to repurchase up to $300.0 million of our outstanding Class A common 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. This program was replaced during the first quarter of 2018 when the Company's board of trustees approved a new share repurchase program (the "Share Repurchase Program") with the same terms, 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. During the year ended December 31, 2018 , the Company repurchased and retired 1.8 million of our Class A common shares on a settlement basis, in accordance with the Share Repurchase Program at a weighted-average price of $19.36 per share and a total price of $34.9 million . During the year ended December 31, 2017 , we did no t repurchase or retire any of our Class A common shares. During the year ended December 31, 2016 , we repurchased and retired 6.2 million of our Class A common shares, on a settlement date basis, in accordance with the Original Share Repurchase Program at a weighted-average price of $15.44 per share and a total price of $96.0 million . As of December 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 Share Repurchase Program . Class B Common Shares Former AH LLC members received 635,075 Class B common shares in connection with their contributions of properties and funds to the Company. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the proceeds and properties contributed in the transaction. Each Class B common share generally entitles the holder to 50 votes on all matters that the holders of Class A common shares are entitled to vote. The issuance of Class B common shares to former AH LLC members allows former AH LLC members a voting right associated with their investment in the Company no greater than if they had solely received Class A common shares. Additionally, when the voting interest from Class A common shares and Class B common shares are added together, a shareholder is limited to a 30% total voting interest. Each Class B common share has the same economic interest as a Class A common share. Preferred Shares As of December 31, 2018 and 2017 , the Company had the following series of preferred shares outstanding (in thousands, except share data): December 31, 2018 December 31, 2017 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Liquidation Value Outstanding Shares Liquidation Value (1) Series C participating preferred shares (2) N/A N/A N/A — $ — 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 Series H perpetual preferred shares 9/19/2018 9/19/2023 6.250 % 4,600,000 115,000 — — Total preferred shares 35,350,000 $ 883,750 38,350,000 $ 986,986 (1) Liquidation value reflects initial liquidation value of $25.00 per share, which in the case of the Series C participating preferred shares was 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. Perpetual Preferred Shares / Units Perpetual preferred shares represent non-voting preferred equity interests in the Company and entitle holders to a cumulative annual cash dividend equal to 6.5% for the Series D cumulative redeemable perpetual preferred shares ("Series D perpetual preferred shares"), 6.35% for the Series E cumulative redeemable perpetual preferred shares ("Series E perpetual preferred shares"), 5.875% for the Series F cumulative redeemable perpetual preferred shares ("Series F perpetual preferred shares"), 5.875% for the Series G cumulative redeemable perpetual preferred shares ("Series G perpetual preferred shares") and 6.25% for the Series H cumulative redeemable perpetual preferred shares ("Series H perpetual preferred shares"), which is applied to the liquidation preference at issuance of $25 per share. The Operating Partnership issues an equivalent number of corresponding perpetual preferred units for the given class to AH4R in exchange for the net proceeds from the share issuances. The Company may, at its option, redeem the perpetual preferred shares for cash, in whole or in part, from time to time, at any time on or after May 24, 2021, for the Series D perpetual preferred shares, June 29, 2021, for the Series E perpetual preferred shares, April 24, 2022, for the Series F perpetual preferred shares, July 17, 2022, for the Series G perpetual preferred shares and September 19, 2023, for the Series H perpetual preferred shares or within 120 days after the occurrence of a change in control at a redemption price equal to the $25 per share liquidation preference, plus any accumulated and unpaid dividends. During the third quarter of 2018, the Company issued 4,600,000 6.25% Series H cumulative redeemable perpetual preferred shares in an underwritten public offering, raising gross proceeds of $115.0 million before offering costs of approximately $4.4 million , with a liquidation preference of $25.00 per share. The Operating Partnership issued an equivalent number of the same class of perpetual preferred units to AH4R in exchange for the net proceeds from the share issuance. During the third quarter of 2017, the Company issued 4,600,000 5.875% Series G cumulative redeemable perpetual preferred shares in an underwritten public offering, raising gross proceeds of $115.0 million before offering costs of approximately $4.1 million , with a liquidation preference of $25.00 per share. The Operating Partnership issued an equivalent number of the same class of perpetual preferred units to AH4R in exchange for the net proceeds from the share issuance. During the second quarter of 2017, the Company issued 6,200,000 5.875% Series F cumulative redeemable perpetual preferred shares in an underwritten public offering, raising gross proceeds of $155.0 million before offering costs of approximately $5.3 million , with a liquidation preference of $25.00 per share. The Operating Partnership issued an equivalent number of the same class of perpetual preferred units to AH4R in exchange for the net proceeds from the share issuance. During the second quarter of 2016, the Company issued 9,200,000 6.35% Series E perpetual preferred shares in an underwritten public offering, raising gross proceeds of $230.0 million before offering costs of $7.5 million . The Operating Partnership issued an equivalent number of the same class of perpetual preferred units to AH4R in exchange for the net proceeds from the share issuance. Also during the second quarter of 2016, the Company issued 10,750,000 6.5% Series D perpetual preferred shares in an underwritten public offering and concurrent private placement, raising gross proceeds of $268.8 million before offering costs of $8.5 million . The Operating Partnership issued an equivalent number of the same class of perpetual preferred units to AH4R in exchange for the net proceeds from the share issuance. Participating Preferred Shares / Units Participating preferred shares represented non-voting preferred equity interests in the Company and entitled holders to a cumulative annual cash dividend equal to 5.0% for the Series A and B participating preferred shares and 5.5% for the Series C participating preferred shares of an initial liquidation preference of $25 per share. The Operating Partnership issued an equivalent number of corresponding participating preferred units to AH4R in exchange for the net proceeds from the share issuance. Any time between March 31, 2018, and March 31, 2021 (the "initial redemption period"), the Company had the option to redeem the Series C participating preferred shares for cash or Class A common shares, at a redemption price equal to the initial liquidation preference, adjusted by an amount equal to 50% of the cumulative change in value of an index based on the purchase prices of single-family properties located in our top 20 markets (the "HPA adjustment"). During the initial redemption period, the amount payable upon redemption was subject to a cap, such that the total internal rate of return, when considering the initial liquidation preference, the HPA adjustment and dividends up to, but excluding, the date of redemption, did not exceed 9.0% . Because the HPA adjustment meets the definition of a derivative under ASC 815, Derivatives and Hedging, and is not clearly and closely related to the economic characteristics and risks of the underlying preferred shares, the fair value of the HPA adjustment has been reflected as a liability in the consolidated balance sheets and is adjusted to fair value each period and included in remeasurement of participating preferred shares in the consolidated statements of operations (see Note 15 ). During the second quarter of 2014, the Company issued 7,600,000 5.5% Series C participating preferred shares in an underwritten public offering and concurrent private placement, raising gross proceeds of $190.0 million before offering costs of $9.7 million . The Operating Partnership issued an equivalent number of the same class of participating preferred units to AH4R in exchange for the net proceeds from the share issuance. During the fourth quarter of 2013 and the first quarter of 2014, the Company issued 4,400,000 5.0% Series B participating preferred shares in an underwritten public offering which raised gross proceeds of $110.0 million before offering costs of $6.6 million . The Operating Partnership issued an equivalent number of the same class of participating preferred units to AH4R in exchange for the net proceeds from the share issuance. During the fourth quarter of 2013, the Company issued 5,060,000 5.0% Series A participating preferred shares in an underwritten public offering, which raised gross proceeds of $126.5 million before offering costs of $7.3 million . The Operating Partnership issued an equivalent number of the same class of participating preferred units to AH4R in exchange for the net proceeds from the share issuance. Redemptions of Participating Preferred Shares / Units 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 recorded 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. On October 3, 2017, the Company redeemed all 5,060,000 shares of the outstanding 5.0% Series A participating preferred shares and all 4,400,000 shares of the outstanding 5.0% Series B 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 12,398,276 total Class A common shares issued from the conversion, based on a conversion ratio of 1.3106 Class A common shares issued per Series A and B participating preferred share. The Operating Partnership also redeemed its corresponding Series A and B participating preferred units through a conversion into Class A units on October 3, 2017. The conversion ratio was calculated by dividing (1) the initial liquidation preference on the Series A and B 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, plus unaccrued dividends by (2) the one-day volume weighted-average price (“VWAP”) of the Company’s Class A common shares on September 27, 2017, the date the Company delivered the required notice of conversion. As a result of the redemption, the Company recorded a $42.4 million allocation of income to the Series A and B participating preferred shareholders during the year ended December 31, 2017, which represents the initial liquidation value of the Series A and B participating preferred shares in excess of the original equity carrying value of the Series A and B participating preferred shares as of the redemption date. The original equity carrying value of the Series A and B participating preferred shares was net of the initial bifurcated home price appreciation derivative liability and offering costs. Conversion of Series C Convertible Units into Class A Units The Series C convertible units represented voting equity interests in the Operating Partnership owned by former AH LLC members. On February 28, 2016, the third anniversary of their original issue date, the 31,085,974 Series C convertible units converted into Class A units on a one -for-one basis in accordance with their terms. Conversion of Series E Convertible Units into Series D Convertible Units The Series E convertible units represented non-voting equity interests in the Operating Partnership. The Series E convertible units did not participate in any distributions and were convertible into Series D convertible units, subject to an earn-out provision, which was met in full and, therefore, the 4,375,000 Series E convertible units were converted into Series D convertible units on a one -for-one basis on February 29, 2016. The fair value of the Series D convertible units was estimated using a Monte Carlo simulation model, which was primarily driven by the most recent trading price of the Company’s Class A common shares into which the Series D convertible units are ultimately convertible. Based on this valuation, the conversion of Series E convertible units into Series D convertible units resulted in a gain of $11.5 million which was recorded in gain on conversion of Series E units within the consolidated statements of operations. Additionally, the Series E convertible units had a $2.8 million contingent beneficial conversion feature that represents a return to the Series E convertible unit holders in the form of additional noncontrolling interest, calculated as the difference between the estimated fair value of the Series D units and the Class A units at the time of the conversion of the Series E units into Series D units in February 2016. The contingent beneficial conversion feature was recognized when the contingency was met, which occurred when the Series D units converted into Class A units on September 30, 2016. Conversion of Series D Convertible Units into Class A Units The Series D convertible units represented non-voting equity interests in the Operating Partnership owned by former AH LLC members and began participating in distributions, representing 70% of distributions declared on Class A units, 30 months after their issuance. The Series D convertible units were automatically convertible into Class A units on a one -for-one basis only after the later of (1) 30 months after the date of issuance and (2) the earlier of (i) the date on which adjusted funds from operations per Class A common share aggregated to $0.80 or more over four consecutive quarters following the original issuance date of the units and (ii) the date on which the daily closing price of our Class A common shares on the NYSE averaged $18.00 or more for two consecutive quarters following the original issuance date of the units. On September 30, 2016, the above-referenced conversion contingency was met and the 8,750,000 Series D convertible units (including the 4,375,000 Series E units that converted into Series D units on February 29, 2016) were converted into Class A units on a one -for-one basis, which resulted in a $7.6 million noncash charge (including $2.8 million from the Series E units that converted to Series D units on February 29, 2016) that was included in noncontrolling interest within the consolidated statements of operations. The noncash charge relates to a contingent beneficial conversion feature that represents a return to the Series D convertible unit holders in the form of additional noncontrolling interest, calculated as the difference between the estimated fair value of the Series D units and the Class A units at the time of their respective issuances, which was recognized when the contingency was met. Distributions To qualify as a REIT, AH4R is required to distribute annually to our shareholders at least 90% of our REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains, and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income. AH4R intends to pay quarterly dividends to our shareholders; and the Operating Partnership intends to pay quarterly distributions to its unitholders, including AH4R, which distributions are, in the aggregate, approximately equal or exceed AH4R's REIT taxable income in the relevant year. As a REIT we are required to distribute annually at least 90% of our REIT taxable income. We currently intend to distribute approximately 100% of our REIT taxable income. We expect to use our NOL to reduce our REIT taxable income in future years. As of December 31, 2018 , AH4R had a NOL for U.S. federal income tax purposes of approximately $275.0 million . Once our NOL is fully used, we may be required to increase AH4R’s distributions to comply with REIT distribution requirements and our current policy of distributing approximately all of our REIT taxable income. During the year ended December 31, 2018 , the Company's board of trustees declared distributions that totaled $0.20 per share on our Class A and Class B common shares, $0.34 per share on our 5.5% Series C participating preferred shares (prior to their conversion to Class A common shares on April 5, 2018), $1.63 per share on our 6.5% Series D perpetual preferred shares, $1.59 per share on our 6.35% Series E perpetual preferred shares, $1.47 per share on our 5.875% Series F perpetual preferred shares, $1.47 per share on our 5.875% Series G perpetual preferred shares and $0.44 per share on our 6.25% Series H perpetual preferred shares, which represents the initial distribution on our 6.25% Series H perpetual preferred shares that was declared on November 1, 2018, and relates to the initial distribution period that commenced on and includes the original issuance date of September 19, 2018, through December 31, 2018. During the year ended December 31, 2017 , the Company's board of trustees declared distributions that totaled $0.20 per share on our Class A and Class B common shares, $0.94 per share on our 5.0% Series A participating preferred shares (prior to their conversion to Class A common shares on October 3, 2017), $0.94 per share on our 5.0% Series B participating preferred shares (prior to their conversion to Class A common shares on October 3, 2017), $1.38 per share on our 5.5% Series C participating preferred shares, $1.63 per share on our 6.5% Series D perpetual preferred shares, $1.59 per share on our 6.35% Series E perpetual preferred shares, $1.01 per share on our 5.875% Series F perpetual preferred shares and $0.67 per share on our 5.875% Series G perpetual preferred shares. During the year ended December 31, 2016 , the Company's board of trustees declared distributions that totaled $0.20 per share on our Class A and Class B common shares, $1.25 per share on our 5.0% Series A participating preferred shares, $1.25 per share on our 5.0% Series B participating preferred shares, $1.38 per share on our 5.5% Series C participating preferred shares, $0.98 per share on our 6.5% Series D perpetual preferred shares, $0.80 per share on our 6.35% Series E perpetual preferred shares, $0.07 per unit on our Series C convertible units (prior to their conversion to Class A units on February 28, 2016) and $0.11 per unit on our Series D convertible units (prior to their conversion to Class A units on September 30, 2016). 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 consolidated balance sheets primarily consists of the interests held by former AH LLC members in units in the Operating Partnership. Former AH LLC members owned 54,243,317 and 54,276,644 , or approximately 15.4% and 15.9% , of the total 351,966,447 and 342,099,865 Class A units in the Operating Partnership as of December 31, 2018 and 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 351,966,447 and 342,099,865 Class A units in the Operating Partnership as of December 31, 2018 and 2017 , respectively. Also included in noncontrolling interest as of December 31, 2017 , was the outside ownership interest in a consolidated subsidiary of the Operating Partnership, which was liquidated during the second quarter of 2018. The following table summarizes the income or loss allocated to noncontrolling interests as reflected in the Company's consolidated statements of operations for the years ended December 31, 2018 , 2017 and 2016 (in thousands): For the Years Ended December 31, 2018 2017 2016 Preferred income allocated to Series C convertible units $ — $ — $ 3,027 Net income (loss) allocated to Class A units 4,424 (4,648 ) (6,417 ) Net income allocated to Series D convertible units — — 134 Beneficial conversion feature related to Series D and E convertible units — — 7,569 Net (loss) income allocated to noncontrolling interest in a consolidated subsidiary (259 ) 141 (562 ) $ 4,165 $ (4,507 ) $ 3,751 Noncontrolling interest as reflected in the Operating Partnership's consolidated balance sheets consisted solely of the outside ownership interest in a consolidated subsidiary of the Operating Partnership, which was liquidated during the second quarter of 2018. Income and loss allocated to the Operating Partnership's noncontrolling interest is reflected in noncontrolling interest within the Operating Partnership's 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 consolidated balance sheets are reflected as limited partner capital in the Operating Partnership's consolidated balance sheets. 2012 Equity Incentive Plan In 2012, the Company adopted the 2012 Equity Incentive Plan (the "Plan") to provide persons with an incentive to contribute to the success of the Company and to operate and manage our business in a manner that will provide for the Company's long-term growth and profitability. The Plan provides for the issuance of up to 6,000,000 Class A common shares through the grant of a variety of awards including stock options, stock appreciation rights, restricted stock, unrestricted shares, dividend equivalent rights and performance-based awards. The Plan terminates in November 2022, unless it is earlier terminated by the Company's board of trustees. The Company's employees are compensated through the Operating Partnership, including share-based compensation. When the Company issues Class A common shares under the Plan, the Operating Partnership issues an equivalent number of Class A units to AH4R. During the year ended December 31, 2018 , the Company granted stock options for 140,000 Class A common shares and 304,400 restricted stock units to certain employees of the Company. During the year ended December 31, 2017 , the Company granted stock options for 385,200 Class A common shares and 174,400 restricted stock units to certain employees of the Company. During the year ended December 31, 2016 , the Company granted stock options for 708,000 Class A common shares and 74,100 restricted stock units to certain employees of the Company. All of the options and restricted stock units granted during the years ended December 31, 2018 , 2017 and 2016 , vest over a four-year service period, and the options expire 10 years from the date of grant. Noncash share-based compensation expense related to these options is based on the estimated fair value on the date of grant and is recognized in expense over the service period. The following table summarizes stock option activity under the Plan for the years ended December 31, 2018 , 2017 and 2016 : Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (in thousands) Options outstanding at December 31, 2015 2,484,400 $ 16.22 8.0 $ 1,225 Granted 708,000 14.15 Exercised (196,000 ) 16.18 790 Forfeited (169,900 ) 16.38 Options outstanding at December 31, 2016 2,826,500 $ 15.69 7.6 $ 14,956 Granted 385,200 23.38 Exercised (74,000 ) 15.65 520 Forfeited (85,250 ) 16.24 Options outstanding at December 31, 2017 3,052,450 $ 16.65 6.9 $ 16,421 Granted 140,000 19.40 Exercised (769,875 ) 16.07 4,754 Forfeited (170,300 ) 17.93 Options outstanding at December 31, 2018 2,252,275 $ 16.92 6.1 $ 7,713 Options exercisable at December 31, 2018 1,569,800 $ 16.21 5.4 $ 6,018 (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 years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 Weighted-average fair value $ 3.03 $ 3.82 $ 2.82 Expected term (years) 7.0 7.0 7.0 Dividend yield 3.0 % 3.0 % 3.0 % Volatility 18.9 % 21.3 % 27.3 % Risk-free interest rate 2.8 % 2.2 % 1.5 % The following table summariz

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2018 and 2017 , affiliates owned approximately 14.0% and 12.1% , respectively, of the Company’s outstanding Class A common shares. On a fully-diluted basis, affiliates held (including consideration of 635,075 Class B common shares and 53,985,492 and 54,018,819 Class A units as of December 31, 2018 and 2017 , respectively) an approximate 27.3% and 26.1% interest at December 31, 2018 and 2017 , respectively. Concurrently with the Company's public offering of Class A common shares in the first quarter of 2017, the Chairman of the Company's Board of Trustees, B. Wayne Hughes, purchased $50.0 million of the Company's Class A common shares in a private placement at the public offering price. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. American Homes 4 Rent As of December 31, 2018 , the Company had a $5.0 million payable related to accrued common distributions to affiliates and an unconsolidated joint venture, compared to a $4.7 million payable related to accrued common and preferred distributions to affiliates as of December 31, 2017 , which were included in amounts payable to affiliates in the Company's consolidated balance sheets. American Homes 4 Rent, L.P. As of December 31, 2018 , the Operating Partnership had a receivable from affiliates of $25.7 million related to the asset-backed securitization certificates held by AH4R, which was included in amounts due from affiliates in the Operating Partnership's consolidated balance sheets, and had a $5.0 million payable related to accrued common distributions to affiliates and an unconsolidated joint venture, which was included in amounts payable to affiliates in the Operating Partnership's consolidated balance sheets. As of December 31, 2017 , the Operating Partnership had a receivable from affiliates of $25.7 million related to the asset-backed securitization certificates held by AH4R, which was included in amounts due from affiliates in the Operating Partnership's consolidated balance sheets, and had a $4.7 million payable related to accrued common and preferred distributions to affiliates, which was included in amounts payable to affiliates in the Operating Partnership's consolidated balance sheets.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Acquisitions	Acquisitions 2016 Acquisition Merger with American Residential Properties, Inc. On February 29, 2016, the Company completed a merger with American Residential Properties, Inc. ("ARPI"), in which ARPI merged with and into a wholly owned subsidiary of the Operating Partnership in a stock-for-stock transaction, with our subsidiary continuing as the surviving entity (the "ARPI Merger"). The purpose of this acquisition was to solidify our position as the largest public owner and operator of single-family rental properties, as of the acquisition date, increase scale and achieve operating synergies. ARPI’s portfolio was substantially similar to our own, met our high quality portfolio standards and the acquisition of their portfolio has allowed us to add density in key markets. As a result of the ARPI Merger, each holder of ARPI common stock received 1.135 of the Company's Class A common shares for each share of ARPI common stock and each holder of limited partnership interests in ARPI’s operating partnership received 1.135 Class A units of the Operating Partnership. The Company issued 36,546,170 Class A common shares in connection with the ARPI Merger, for which the Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the transaction consideration. Additionally, the Operating Partnership issued 1,343,843 Class A units to certain former ARPI employees in connection with the ARPI Merger. The total Class A shares and units issued in connection with the ARPI Merger represented 12.7% of the total common units of the Operating Partnership, on a fully diluted basis assuming the conversion of convertible units into common units, as of the acquisition date. The equity transaction consideration of $530.5 million was calculated based on the 36,546,170 Class A common shares and 1,343,843 Class A units issued in connection with the ARPI Merger valued at the Company’s closing share price on the acquisition date of $14.00 per share. Transaction costs incurred by the Company related to the ARPI Merger totaled $5.8 million , of which $5.8 million and $1.6 million was incurred during the years ended December 31, 2016 and 2015, respectively. The following table summarizes the allocation of the estimated fair values of the assets and liabilities acquired as part of the ARPI Merger as of the acquisition date (in thousands): Net assets acquired Land $ 262,396 Buildings and improvements 1,014,857 Cash and cash equivalents 15,499 Restricted cash 9,521 Rent and other receivables 843 Escrow deposits, prepaid expenses and other assets 35,134 In-place leases 22,696 Accounts payable and accrued expenses (38,485 ) Net assets acquired 1,322,461 Debt assumed or extinguished Credit facility 350,000 Exchangeable senior notes 112,298 Asset-backed securitization 329,703 Total debt assumed or extinguished 792,001 Equity transaction consideration 530,460 Total transaction consideration $ 1,322,461 Since the completion of the ARPI Merger, the Company has consolidated the 8,936 single-family properties acquired as part of the transaction and the related results of these operations are reflected in the Company’s and the Operating Partnership's consolidated financial statements. The following table presents the total revenues and net income attributable to the ARPI Merger that are included in our consolidated statements of operations for the year ended December 31, 2016 (in thousands): For the Period from February 29, 2016 to December 31, 2016 Total revenues $ 119,245 Net income $ 1,237 Pro Forma Supplemental Information The following table presents the Company’s supplemental consolidated pro forma total revenues and net loss as if the ARPI Merger had occurred on January 1, 2015 (in thousands, except per share amounts): For the Years Ended December 31, 2016 2015 Pro forma total revenues (1) $ 900,958 $ 754,710 Pro forma net loss (1) $ (8,989 ) $ (54,995 ) Pro forma net loss per share / unit (1) $ (0.22 ) $ (0.37 ) (1) This unaudited pro forma supplemental information does not purport to be indicative of what our operating results would have been had the ARPI Merger occurred on January 1, 2015.

Earnings per Share _ Unit

Earnings per Share / Unit	12 Months Ended
	Dec. 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except share and per share data): For the Years Ended December 31, 2018 2017 2016 Numerator: Net income $ 112,438 $ 76,492 $ 10,446 Less: Noncontrolling interest 4,165 (4,507 ) 3,751 Dividends on preferred shares 52,586 60,718 40,237 Redemption of participating preferred shares 32,215 42,416 — Allocation to participating securities (1) 85 — — Numerator for income (loss) per common share–basic and diluted $ 23,387 $ (22,135 ) $ (33,542 ) Denominator: Weighted-average common shares outstanding–basic 293,640,500 264,254,718 234,010,168 Effect of dilutive securities: Share-based compensation plan (2) 627,830 — — Weighted-average common shares outstanding–diluted (3) 294,268,330 264,254,718 234,010,168 Net income (loss) per common share: Basic $ 0.08 $ (0.08 ) $ (0.14 ) Diluted $ 0.08 $ (0.08 ) $ (0.14 ) (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 years ended December 31, 2018 , 2017 and 2016 , excludes an aggregate of zero , 17,084,135 and 32,914,593 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except unit and per unit data): For the Years Ended December 31, 2018 2017 2016 Numerator: Net income $ 112,438 $ 76,492 $ 10,446 Less: Noncontrolling interest (259 ) 141 (562 ) Dividends on preferred units 52,586 60,718 40,237 Redemption of participating preferred units 32,215 42,416 — Allocation to participating securities (1) 85 — — Income allocated to Series C and D limited partners — — 10,730 Numerator for income (loss) per common unit–basic and diluted $ 27,811 $ (26,783 ) $ (39,959 ) Denominator: Weighted-average common units outstanding–basic 348,990,561 319,753,206 277,912,532 Effect of dilutive securities: Share-based compensation plan (2) 627,830 — — Weighted-average common units outstanding–diluted (3) 349,618,391 319,753,206 277,912,532 Net income (loss) per common unit: Basic $ 0.08 $ (0.08 ) $ (0.14 ) Diluted $ 0.08 $ (0.08 ) $ (0.14 ) (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 years ended December 31, 2018 , 2017 and 2016 , excludes an aggregate of zero , 17,084,135 and 32,914,593 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. Zero , zero and $0.61 of net income per basic and diluted unit were allocated to Series C convertible units during the years ended December 31, 2018 , 2017 and 2016 , respectively, and zero , zero and $1.32 of net income per basic and diluted unit were allocated to Series D convertible units during the years ended December 31, 2018 , 2017 and 2016 , respectively. There was no income or loss allocated to Series E convertible units during the years ended December 31, 2018 , 2017 and 2016 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As part of our operations, we lease office space for our corporate and property management offices under non-cancelable operating lease agreements, which expire on various dates through 2024 . Rent expense related to our operating leases for the years ended December 31, 2018 , 2017 and 2016 , was as follows (in thousands): For the Years Ended December 31, 2018 2017 2016 Rent expense $ 2,829 $ 2,614 $ 2,124 Less: income from subleases (347 ) (418 ) (187 ) Net rent expense $ 2,482 $ 2,196 $ 1,937 Future lease obligations under our operating leases as of December 31, 2018 , were as follows (in thousands): Year 2019 $ 2,011 2020 1,553 2021 688 2022 498 2023 126 Thereafter 15 Total lease commitments 4,891 Less: income from subleases — Net lease commitments $ 4,891 As of December 31, 2018 , the Company had commitments to acquire 88 single-family properties for an aggregate purchase price of $25.3 million , as well as $58.1 million in purchase commitments that relate to both third party developer agreements and land for 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 purchase commitments that relate to both third party developer agreements and land for our internal construction program. As of December 31, 2018 and 2017 , the Company had sales in escrow for approximately 78 and 69 of our single-family properties, respectively, for aggregate selling prices of $13.6 million and $7.0 million , respectively. We have a retirement savings plan pursuant to Section 401(k) of the Code whereby our employees may contribute a portion of their compensation to their respective retirement accounts in an amount not to exceed the maximum allowed under the Code. In addition to employee contributions, we have elected to provide company contributions (subject to statutory limitations), which amounted to approximately $1.3 million , $0.9 million and $0.7 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. We are involved in various legal and administrative proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position 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 did not allege any violation of law and we cooperated with the SEC. On February 7, 2019, the staff of the SEC advised that the investigation was concluded without any further action with respect to the company. 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 requested 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 continue 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.

Noncash Transactions

Noncash Transactions	12 Months Ended
	Dec. 31, 2018
Nonmonetary Transactions [Abstract]
Noncash Transactions	Noncash Transactions On February 29, 2016, the Company completed the ARPI Merger in a stock-for-stock transaction. Each holder of ARPI common stock received 1.135 of the Company's Class A common shares for each share of ARPI common stock and each holder of limited partnership interests in ARPI's operating partnership received 1.135 Class A units of the Operating Partnership. The Company issued 36,546,170 Class A common shares in connection with the ARPI Merger, for which the Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the transaction consideration. Additionally, the Operating Partnership issued 1,343,843 Class A units to certain former ARPI employees in connection with the ARPI Merger. The total Class A units issued in connection with the ARPI Merger represented 12.7% of the total common units of the Operating Partnership, on a fully diluted basis assuming the conversion of convertible units into common units, as of the acquisition date (see Note 11 ).

Fair Value

Fair Value	12 Months Ended
	Dec. 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 and treasury lock are the only financial instruments recorded at fair value on a recurring basis in the consolidated financial statements. 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 December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization 491,195 494,820 496,326 504,730 AH4R 2014-SFR3 securitization 506,760 511,450 512,041 521,252 AH4R 2015-SFR1 securitization 532,197 534,666 537,723 544,592 AH4R 2015-SFR2 securitization 462,358 467,303 467,267 475,832 Total asset-backed securitizations (1) 1,992,510 2,008,239 2,013,357 2,046,406 Unsecured senior notes (1) (2) 497,454 479,730 — — Exchangeable senior notes (2) — — 111,697 147,462 Secured note payable (3) — — 48,859 49,027 Revolving credit facility (1) (4) 250,000 250,000 140,000 140,000 Term loan facility (1) (5) 100,000 100,000 200,000 200,000 Total debt $ 2,839,964 $ 2,837,969 $ 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 $31.0 million , $4.7 million , $6.9 million , and $0.8 million , respectively, of unamortized deferred financing costs as of December 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 and exchangeable senior notes are presented net of unamortized discounts. (3) The secured note payable was paid off in full during the second quarter of 2018. (4) 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 term loan facility reasonably approximates fair value. (5) 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 considered 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 considered 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 Series A and B participating preferred shares were redeemed through a conversion into Class A common shares on October 3, 2017 (see Note 9 ). 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 is being reclassified into earnings as a reduction of interest expense over the ten-year 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 December 31, 2018 and 2017 (in thousands): Description Fair Value Hierarchy December 31, 2018 December 31, 2017 Assets: Treasury lock Level 2 $ — $ 75 Liabilities: Participating preferred shares derivative liability Level 3 $ — $ 29,470 The following tables present changes in the fair values of our Level 3 financial instruments that were measured on a recurring basis with changes in fair value recognized in remeasurement of participating preferred shares within the consolidated statements of operations for the years ended December 31, 2018 and 2017 (in thousands): Description January 1, 2018 Conversions Remeasurement included in earnings December 31, 2018 Liabilities: Participating preferred shares derivative liability $ 29,470 $ (28,258 ) $ (1,212 ) $ — Description January 1, 2017 Conversions Remeasurement December 31, 2017 Liabilities: Participating preferred shares derivative liability $ 69,810 $ (37,499 ) $ (2,841 ) $ 29,470

Quarterly Financial Information

Quarterly Financial Information (unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (unaudited)	Quarterly Financial Information (unaudited) American Homes 4 Rent The following table presents the Company's summarized quarterly financial data for the years ended December 31, 2018 and 2017 (in thousands, except per share data): Quarter First Second Third Fourth 2018 Rents from single-family properties $ 218,023 $ 227,211 $ 231,324 $ 232,378 Net income $ 21,525 $ 25,898 $ 30,281 $ 34,734 Net income (loss) attributable to common shareholders $ 5,814 $ (15,151 ) $ (15,177 ) $ 17,632 Net income (loss) attributable to common shareholders per share–basic $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Net income (loss) attributable to common shareholders per share–diluted $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Quarter First Second Third Fourth 2017 Rents from single-family properties $ 201,107 $ 204,648 $ 207,490 $ 210,778 Net income $ 11,796 $ 15,066 $ 19,097 $ 30,533 Net (loss) income attributable to common shareholders $ (1,490 ) $ (186 ) $ 1,535 $ (21,994 ) Net (loss) income attributable to common shareholders per share–basic $ (0.01 ) $ — $ 0.01 $ (0.08 ) Net (loss) income attributable to common shareholders per share–diluted $ (0.01 ) $ — $ — $ (0.08 ) American Homes 4 Rent, L.P. The following table presents the Operating Partnership's summarized quarterly financial data for the years ended December 31, 2018 and 2017 (in thousands, except per unit data): Quarter First Second Third Fourth 2018 Rents from single-family properties $ 218,023 $ 227,211 $ 231,324 $ 232,378 Net income $ 21,525 $ 25,898 $ 30,281 $ 34,734 Net income (loss) attributable to common unitholders $ 6,939 $ (18,053 ) $ 18,058 $ 20,952 Net income (loss) attributable to common unitholders per unit–basic $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Net income (loss) attributable to common unitholders per unit–diluted $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Quarter First Second Third Fourth 2017 Rents from single-family properties $ 201,107 $ 204,648 $ 207,490 $ 210,778 Net income $ 11,796 $ 15,066 $ 19,097 $ 30,533 Net (loss) income attributable to common unitholders $ (1,829 ) $ (217 ) $ 1,875 $ (26,612 ) Net (loss) income attributable to common unitholders per unit–basic $ (0.01 ) $ — $ 0.01 $ (0.08 ) Net (loss) income attributable to common unitholders per unit–diluted $ (0.01 ) $ — $ — $ (0.08 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Unsecured Senior Notes In January 2019, the Operating Partnership issued $400.0 million of 4.90% unsecured senior notes with a maturity date of February 15, 2029 (the "2029 Notes"). Interest on the 2029 Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2019 . The Operating Partnership received net proceeds of $395.3 million from this issuance, after underwriting fees of approximately $2.6 million and a $2.1 million discount, and before estimated offering costs of $1.0 million . The Operating Partnership used the net proceeds from this issuance to repay amounts outstanding on our revolving credit facility and intends to use the remaining net proceeds for general corporate purposes, including, without limitation, acquisition of properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or improvement of our properties, working capital and other general purposes. The 2029 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 2029 Notes at any time, in whole or in part, at the applicable redemption price specified in the indenture with respect to the 2029 Notes. If the 2029 Notes are redeemed on or after November 15, 2028 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2029 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. Credit Facilities From January 1, 2019 , through February 22, 2019 , the Company paid down $250.0 million under our revolving credit facility, resulting in no outstanding borrowings under our revolving credit facility and $100.0 million of outstanding borrowings under our term loan facility as of February 22, 2019 . Subsequent Acquisitions From January 1, 2019 , through February 22, 2019 , the Company acquired approximately 154 properties for an aggregate purchase price of approximately $37.9 million , which included 25 homes developed through our internal construction program. Subsequent Dispositions From January 1, 2019 , through February 22, 2019 , the Company disposed of 61 properties for aggregate net proceeds of approximately $11.0 million . Declaration of Dividends On February 21, 2019 , the Company's board of trustees declared quarterly dividends of $0.05 per share on the Company's Class A common shares, $0.05 per share on the Company's 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, $0.37 per share on the Company’s 5.875% Series G perpetual preferred shares and $0.39 per share on the Company's 6.25% Series H perpetual preferred shares. The quarterly dividends are payable on April 1, 2019 , to shareholders of record on March 15, 2019 . The Operating Partnership funds the payment of distributions, and an equivalent amount of distributions were declared on the corresponding Operating Partnership units.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2018 (Amounts in thousands) Initial Cost to Company Cost Capitalized Total Cost Market Number of Single-Family Homes Gross Book Value of Encumbered Assets Land Buildings and Improvements Buildings and Improvements Land Buildings and Improvements Total Accumulated Depreciation (1) Net Cost Basis Date of Acquisition Albuquerque 212 $ — $ 6,485 $ 24,070 $ 3,719 $ 6,485 $ 27,789 $ 34,274 $ (5,725 ) $ 28,549 2013-2015 Atlanta 4,827 186,575 150,521 587,913 105,705 150,521 693,618 844,139 (92,257 ) 751,882 2012-2018 Augusta 228 — 6,471 26,122 4,228 6,471 30,350 36,821 (4,048 ) 32,773 2013-2017 Austin 866 34,959 29,050 113,686 16,273 29,050 129,959 159,009 (17,007 ) 142,002 2012-2018 Bay Area 117 — 8,140 22,809 2,181 8,140 24,990 33,130 (4,372 ) 28,758 2012-2014 Boise 438 7,645 15,986 53,793 6,220 15,986 60,013 75,999 (6,756 ) 69,243 2013-2018 Central Valley 147 — 5,554 18,068 2,394 5,554 20,462 26,016 (3,587 ) 22,429 2012-2016 Charleston 1,014 81,793 37,079 137,516 19,563 37,079 157,079 194,158 (20,659 ) 173,499 2012-2018 Charlotte 3,608 282,017 132,926 491,815 56,702 132,926 548,517 681,443 (70,200 ) 611,243 2012-2018 Cincinnati 1,993 232,960 61,824 243,959 39,488 61,824 283,447 345,271 (53,373 ) 291,898 2012-2017 Colorado Springs 22 — 903 2,932 702 903 3,634 4,537 (761 ) 3,776 2013 Columbia 43 — 1,004 5,600 690 1,004 6,290 7,294 (1,082 ) 6,212 2013-2014 Columbus 2,016 139,446 57,914 240,061 42,741 57,914 282,802 340,716 (40,664 ) 300,052 2012-2018 Corpus Christi 220 — 1,857 33,478 3,362 1,857 36,840 38,697 (2,419 ) 36,278 2016 Dallas-Fort Worth 4,406 284,099 113,431 520,446 88,809 113,431 609,255 722,686 (101,826 ) 620,860 2012-2018 Denver 787 — 42,121 165,369 20,293 42,121 185,662 227,783 (26,237 ) 201,546 2012-2018 Fort Myers 6 — 172 817 144 172 961 1,133 (152 ) 981 2012-2013 Greater Chicago area, IL and IN 2,046 182,493 62,619 248,970 54,119 62,619 303,089 365,708 (60,011 ) 305,697 2012-2016 Greensboro 706 52,672 20,156 90,715 10,550 20,156 101,265 121,421 (16,105 ) 105,316 2013-2018 Greenville 677 71,810 16,915 88,510 11,617 16,915 100,127 117,042 (17,492 ) 99,550 2013-2018 Houston 3,156 169,122 65,607 381,138 66,681 65,607 447,819 513,426 (71,348 ) 442,078 2012-2017 Indianapolis 2,890 292,927 76,727 306,062 55,718 76,727 361,780 438,507 (72,961 ) 365,546 2012-2016 Inland Empire 331 — 31,054 41,654 5,602 31,054 47,256 78,310 (5,479 ) 72,831 2012-2016 Jacksonville 2,147 60,297 64,202 256,607 45,478 64,202 302,085 366,287 (43,748 ) 322,539 2012-2018 Knoxville 401 17,169 13,196 63,292 5,923 13,196 69,215 82,411 (10,656 ) 71,755 2013-2017 Las Vegas 1,022 21,722 30,749 127,381 21,022 30,749 148,403 179,152 (29,233 ) 149,919 2011-2016 Memphis 674 16,853 21,378 76,791 12,798 21,378 89,589 110,967 (13,028 ) 97,939 2013-2018 Miami 218 3,553 3,337 26,238 5,678 3,337 31,916 35,253 (5,833 ) 29,420 2012-2016 Milwaukee 124 — 7,286 21,617 2,278 7,286 23,895 31,181 (4,935 ) 26,246 2013 Nashville 2,686 181,534 105,177 404,763 46,425 105,177 451,188 556,365 (63,577 ) 492,788 2012-2018 Oklahoma City 370 — 9,928 51,381 6,884 9,928 58,265 68,193 (8,112 ) 60,081 2012-2015 Orlando 1,705 46,044 61,248 207,515 32,916 61,248 240,431 301,679 (36,222 ) 265,457 2011-2018 Phoenix 3,086 55,457 132,322 349,070 48,106 132,322 397,176 529,498 (54,146 ) 475,352 2011-2018 Portland 261 24,290 19,099 37,317 2,661 19,099 39,978 59,077 (5,301 ) 53,776 2013-2018 Raleigh 2,058 211,240 70,455 272,134 32,192 70,455 304,326 374,781 (46,971 ) 327,810 2012-2018 Salt Lake City 1,338 156,579 79,857 208,170 31,465 79,857 239,635 319,492 (35,270 ) 284,222 2012-2018 San Antonio 1,038 58,804 31,498 113,695 19,910 31,498 133,605 165,103 (21,915 ) 143,188 2012-2018 Savannah/Hilton Head 842 41,692 27,265 108,093 13,246 27,265 121,339 148,604 (13,213 ) 135,391 2013-2018 Seattle 690 28,068 45,947 126,046 9,881 45,947 135,927 181,874 (12,513 ) 169,361 2012-2018 Tampa 2,170 45,624 79,686 298,996 42,697 79,686 341,693 421,379 (51,324 ) 370,055 2012-2018 Tucson 380 11,854 7,533 36,677 7,651 7,533 44,328 51,861 (10,082 ) 41,779 2011-2014 Winston Salem 817 42,681 19,235 95,974 10,353 19,235 106,327 125,562 (15,900 ) 109,662 2013-2018 Total 52,783 $ 3,041,979 $ 1,773,914 $ 6,727,260 $ 1,015,065 $ 1,773,914 $ 7,742,325 $ 9,516,239 $ (1,176,500 ) $ 8,339,739 (1) The unaudited aggregate cost of consolidated real estate in the table above for federal income tax purposes was $9.6 billion as of December 31, 2018 . American Homes 4 Rent American Homes 4 Rent, L.P. Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2018 (Continued) (Amounts in thousands) Change in Total Real Estate Assets For the Years Ended December 31, 2018 2017 2016 Balance, beginning of period $ 9,004,704 $ 8,214,566 $ 6,705,982 Acquisitions and building improvements 628,118 870,350 1,597,392 Dispositions (101,153 ) (68,759 ) (77,916 ) Write-offs (9,572 ) (6,773 ) (5,922 ) Impairment (5,858 ) (4,680 ) (4,970 ) Balance, end of period $ 9,516,239 $ 9,004,704 $ 8,214,566 Change in Accumulated Depreciation For the Years Ended December 31, 2018 2017 2016 Balance, beginning of period $ (939,724 ) $ (666,710 ) $ (416,044 ) Depreciation (1) (258,086 ) (281,747 ) (260,154 ) Dispositions 11,738 1,960 3,566 Write-offs 9,572 6,773 5,922 Balance, end of period $ (1,176,500 ) $ (939,724 ) $ (666,710 ) (1) Depreciation of buildings and improvements is computed on a straight-line basis over estimated useful lives ranging from 3 to 30 years.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The 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") 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in unconsolidated subsidiary and are included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. The ownership interest in a consolidated subsidiary of the Company held by outside parties, which was liquidated during the second quarter of 2018, is included in noncontrolling interest within the consolidated financial statements. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board ("PCAOB"). In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes AH4R has elected to be taxed as a REIT under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Accordingly, we will not be subject to U.S. federal income tax, provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and excluding net capital gains). However, qualification and taxation as a REIT depends upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax (including any applicable alternative minimum tax for taxable years beginning before December 31, 2017) on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Our taxable REIT subsidiaries (our "TRSs") will be subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2014 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership's partners, including AH4R, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full authority of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2018 , there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT we are required to distribute annually at least 90% of our REIT taxable income. We currently intend to distribute approximately 100% of our REIT taxable income. We expect to use our net operating loss carryforward ("NOL") to reduce our REIT taxable income in future years. As of December 31, 2018 , AH4R had a NOL for U.S. federal income tax purposes of approximately $275.0 million . Once our NOL is fully used, we may be required to increase AH4R’s distributions to comply with REIT distribution requirements and our current policy of distributing approximately all of our REIT taxable income.
Investments in Real Estate	Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company generally engages a third-party valuation specialist to assist management in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions. The value of acquired lease-related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (less than one year). The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property. We incur costs to prepare our acquired properties for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred.
Single Family Properties Under Development and Development Land	Single-Family Properties Under Development and Development Land Land and construction in progress related to our third party developers (our "National Builder Program") and our internal construction program (our "AMH Development Program") are presented separately in single-family properties under development and development land within the consolidated balance sheets. We capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met.
Single-family Properties Held for Sale and Discontinued Operations	Single-family Properties Held for Sale and Discontinued Operations Single-family properties are classified as held for sale when they meet the applicable GAAP criteria, including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2018 and 2017 , the Company had 1,945 and 310 single-family properties, respectively, classified as held for sale, and recorded $5.9 million , $4.7 million and $5.0 million of impairment on single-family properties held for sale for the years ended December 31, 2018 , 2017 , and 2016, respectively, which was included in other expenses within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with Accounting Standards Update ("ASU") No. 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, "
Impairment of Long-lived Assets	Impairment of Long-lived Assets We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date.
Leasing Costs	Leasing Costs Direct and indirect incremental costs incurred to lease properties are capitalized and amortized over the term of the leases, which generally have a term of one year.
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally 3 to 30 years. We consider the value of in-place leases in the allocation of the purchase price, and amortize such amounts on a straight-line basis over the remaining terms of the leases. The unamortized portion of the value of in-place leases is included in deferred costs and other intangibles, net within the consolidated balance sheets.
Intangible Assets	Intangible Assets Finite-lived intangible assets are amortized on a straight-line basis over the asset's estimated economic life of 4.7 years for trademarks and 7.0 years for databases. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset.
Goodwill	Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company's management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other , which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether an impairment test is necessary. This qualitative assessment requires judgment to be applied in evaluating the effects of multiple factors, including actual and projected financial performance of the reporting unit, industry and market conditions, macroeconomic conditions, and other relevant entity specific events. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. The impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds the fair value, the impairment loss is determined as the excess of the carrying amount of the goodwill reporting unit over the fair value of that goodwill, not to exceed the carrying amount. Impairment charges, if any, are recognized in operating results.
Deferred Financing Costs	Deferred Financing Costs Financing costs related to the origination of the Company's debt instruments are deferred and amortized as interest expense on an effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company's revolving credit facility are presented net of accumulated amortization and have been included in deferred costs and other intangibles, net within the consolidated balance sheets. Financing costs related to the origination of the Company's term loan credit facility, unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets.
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.
Escrow Deposits	Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risk and rewards of ownership of the property are transferred and the purchase is finalized.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts We maintain an allowance for doubtful accounts for estimated losses that may result from the inability of tenants to make required rent or other payments. This allowance is estimated based on, among other considerations, payment histories, overall delinquencies and available security deposits.
Revenue and Expense Recognition	Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. We accrue for property taxes and HOA assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, resident security deposits, construction liabilities, HOA fees and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure.
Share-based Compensation	Share-based Compensation Our 2012 Equity Incentive Plan is accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation expense related to options to purchase our Class A common shares and restricted stock units issued to members of the Company's board of trustees and employees is based on the fair value of the options and restricted stock units on the grant date and amortized over the service period.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 —Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets; • Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The carrying amount of rent and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses approximate fair value because of the short maturity of these amounts. Our revolving credit facility, term loan facility, asset-backed securitizations and secured note payable are also financial instruments, whose fair values were estimated using unobservable inputs 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 whose fair values were estimated using observable inputs, based on the market value of the last trade at the end of the period. The Company's participating preferred shares derivative liability and treasury lock were the only financial instruments recorded at fair value on a recurring basis within our consolidated financial statements (see Note 15 ).
Derivatives	Derivatives From time to time, we may use interest rate cap agreements or other derivative instruments for interest rate risk management purposes. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense during the period in which the hedged transaction affects earnings.
Segment Reporting	Segment Reporting Under the provision of ASC 280, Segment Reporting , the Company has determined that it has one reportable segment with activities related to acquiring, renovating, developing, leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level.
Recent Accounting Pronouncements	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 of lease agreements. 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 indirect leasing costs, will no longer be capitalized and instead will be expensed as incurred. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements , which provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component if the non-lease components would otherwise be accounted for under the new revenue recognition standard and both the timing and pattern of transfer are the same for the non-lease components and associated lease component and, if accounted for separately, the lease component would be classified as an operating lease. As issued, ASU No. 2016-02 required modified retrospective application for all leases existing as of, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. ASU No. 2018-11 simplifies the transition requirements by providing companies an option to initially apply the new lease requirements as of the date of adoption and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The Company will not need to restate comparative periods if it elects the simplified transition requirements provided by ASU No. 2018-11. In December 2018, the FASB issued ASU No. 2018-20, Narrow-Scope Improvements for Lessors , which allows lessors to make an accounting policy election to exclude sales taxes and other similar taxes on lease transactions from lease revenue and the associated expense and requires lessors to exclude costs paid directly by lessees to third parties on the lessor’s behalf from lease revenue. The guidance is 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. The Company plans to elect both practical expedients permitted in ASU 2018-11 by combining lease and non-lease components for our residential operating leases and by applying the new guidance as of the date of adoption on January 1, 2019. We do not plan to restate comparative periods. The Company does not anticipate significant changes in the accounting for our residential operating leases for which we are the lessor. However, the adoption of this guidance will require us to recognize additional property management expenses for indirect leasing costs, which totaled $8.0 million for the year ended December 31, 2018 , that were capitalized as deferred leasing costs under our previous accounting policy. As of December 31, 2018 , we had $4.0 million of capitalized indirect leasing costs that we anticipate will be amortized during the following year. Additionally, the Company leases commercial office space for our corporate and property management offices under non-cancelable operating lease agreements and anticipates the adoption of this guidance will require us to recognize a $4.8 million right-of-use asset and a corresponding $4.8 million lease liability. 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 currently under ASC 840, "Leases", and under ASC 842, “Leases”, beginning January 1, 2019, are specifically excluded from ASU No. 2014-09’s scope, most of the Company’s rental contract revenue continues to follow 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 continue to be accounted for under ASC 840 until the adoption of ASU 2016-02 beginning January 1, 2019, at which point the non-lease components will be accounted for under ASC 606. Based on our assessment, the Company’s 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". The sale of the Company’s real estate would be considered a sale of nonfinancial assets as defined under ASC 610-20, which incorporates the revenue recognition principles in ASC 606. If the Company determines it does not have a controlling financial interest in the entity that purchases the asset and the arrangement meets the criteria to be accounted for as a contract, the Company will derecognize the asset and recognize a gain or loss on sale of the asset when control is transferred to the buyer. The Company adopted the guidance in ASC 606, Revenue from Contracts with Customers , and ASC 610-20, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets , using the modified retrospective approach, effective January 1, 2018. We evaluated the revenue recognition for our contracts with customers under the new revenue recognition standard and determined that there were no differences in the amounts or timing of revenue recognition. We also evaluated the sale of our real estate assets under ASC 610-20 and determined there were no differences in the timing or amount of gain or loss on sale of our properties. The adoption of this guidance 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 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. The Company adopted this guidance effective July 1, 2018. The adoption of this guidance did not have a material impact on our financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement , which eliminates, adds and modifies certain disclosure requirements for fair value measurements. Companies will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. Companies will also be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019, and for interim periods within those annual periods with early adoption permitted. The Company is currently assessing the impact of the guidance on our financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrangement is ready for its intended use. The guidance is effective for fiscal years beginning after December 15, 2019, and for interim periods within those annual periods with early adoption permitted. The Company is currently assessing the impact of the guidance on our financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
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 consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets: December 31, 2018 2017 2016 Balance Sheet: Cash and cash equivalents $ 30,284 $ 46,156 $ 118,799 Restricted cash 144,930 136,667 131,442 Statement of Cash Flows: Cash, cash equivalents and restricted cash $ 175,214 $ 182,823 $ 250,241

Real Estate Assets, Net (Tables

Real Estate Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of Single-Family Properties	The net book values of real estate assets consisted of the following as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Leased single-family properties $ 7,513,634 $ 7,284,708 Single-family properties being renovated 83,661 225,194 Single-family properties being prepared for re-lease 61,013 47,994 Vacant single-family properties available for lease 362,289 471,281 Single-family properties in operation, net 8,020,597 8,029,177 Development land 97,207 39,079 Single-family properties under development 56,444 12,859 Single-family properties held for sale, net 318,327 35,803 Total real estate assets, net $ 8,492,575 $ 8,116,918

Rent and Other Receivables, N_2

Rent and Other Receivables, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Summary of Future Minimum Rental Revenues	The Company generally rents our single-family properties under non-cancelable lease agreements with a term of one year. Future minimum rental revenues under leases existing on our properties as of December 31, 2018 , were as follows (in thousands): Year 2019 $ 446,745 2020 4,857 2021 251 2022 98 2023 19 Total $ 451,970

Deferred Costs and Other Inta_2

Deferred Costs and Other Intangibles, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs and Other Intangibles, Net	Deferred costs and other intangibles, net, consisted of the following as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Deferred leasing costs $ 11,912 $ 7,030 Deferred financing costs 11,246 11,244 Intangible assets: Value of in-place leases — 179 Trademark — 3,100 Database 2,100 2,100 25,258 23,653 Less: accumulated amortization (12,572 ) (10,628 ) Total $ 12,686 $ 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 December 31, 2018 , for future periods (in thousands): Year Deferred Leasing Costs Deferred Financing Costs Database Total 2019 $ 5,388 $ 1,964 $ 300 $ 7,652 2020 — 1,969 132 2,101 2021 — 1,965 — 1,965 2022 — 968 — 968 Total $ 5,388 $ 6,866 $ 432 $ 12,686

Escrow Deposits, Prepaid Expe_2

Escrow Deposits, Prepaid Expenses and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of escrow deposits, prepaid expenses and other assets	The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Escrow deposits, prepaid expenses and other $ 44,654 $ 33,964 Investments in joint ventures 56,789 42,341 Commercial real estate, vehicles and FF&E, net 44,591 43,608 Total $ 146,034 $ 119,913

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt as of December 31, 2018 and 2017 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2018 December 31, 2017 AH4R 2014-SFR2 securitization 4.42 % October 9, 2024 $ 491,195 $ 496,326 AH4R 2014-SFR3 securitization 4.40 % December 9, 2024 506,760 512,041 AH4R 2015-SFR1 securitization (2) 4.14 % April 9, 2045 532,197 537,723 AH4R 2015-SFR2 securitization (3) 4.36 % October 9, 2045 462,358 467,267 Total asset-backed securitizations 1,992,510 2,013,357 2028 notes (4) 4.08 % February 15, 2028 500,000 — Exchangeable senior notes (5) N/A N/A — 115,000 Secured note payable (6) N/A N/A — 48,859 Revolving credit facility (7) 3.70 % June 30, 2022 250,000 140,000 Term loan facility (8) 3.85 % June 30, 2022 100,000 200,000 Total debt (9) 2,842,510 2,517,216 Unamortized discount on unsecured and exchangeable notes (2,546 ) (895 ) Equity component of exchangeable senior notes — (2,408 ) Deferred financing costs, net (10) (36,421 ) (38,026 ) Total debt per balance sheet $ 2,803,543 $ 2,475,887 (1) Interest rates are as of December 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 2028 notes is 4.25% , which was effectively hedged to yield an interest rate of 4.08% . (5) The exchangeable senior notes were paid off in full during the fourth quarter of 2018. (6) The secured note payable was paid off in full during the second quarter of 2018. (7) 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 December 31, 2018 , plus 1-month LIBOR. (8) The term loan component of our credit facility matures 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 December 31, 2018 , plus 1-month LIBOR. (9) 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 December 31, 2018 and 2017 . (10) Deferred financing costs relate to our asset-backed securitizations, unsecured senior notes and term loan facility. Amortization of deferred financing costs was $5.8 million , $6.4 million and $8.5 million for the years ended December 31, 2018 , 2017 and 2016 , respectively, which has been included in gross interest, prior to interest capitalization.
Schedule of Debt Maturities	The following table summarizes the contractual maturities of the Company's principal debt balances on a fully extended basis as of December 31, 2018 (in thousands): 2019 $ 20,714 2020 20,714 2021 20,714 2022 370,714 2023 20,714 Thereafter 2,388,940 Total debt 2,842,510 Unamortized discount and deferred financing costs (1) (38,967 ) Total debt per balance sheet $ 2,803,543 (1) Includes the unamortized discount of the unsecured senior notes and deferred financing costs, net.
Schedule of Encumbered Properties	The following table displays the number of properties pledged as collateral for the Company's asset-backed securitization loans and secured note payable and the aggregate net book values as of December 31, 2018 and 2017 (in thousands, except property data): As of December 31, 2018 As of December 31, 2017 Number of Properties Net Book Value Number of Properties Net Book Value AH4R 2014-SFR2 securitization (1) 4,546 $ 611,279 4,481 $ 627,988 AH4R 2014-SFR3 securitization (2) 4,588 662,068 4,499 680,788 AH4R 2015-SFR1 securitization (3) 4,697 662,202 4,658 685,055 AH4R 2015-SFR2 securitization (4) 4,178 612,835 4,124 635,612 Secured note payable — — 572 71,868 Total encumbered properties 18,009 $ 2,548,384 18,334 $ 2,701,311 (1) During the years ended December 31, 2018 and 2017 , the Company substituted 65 and zero properties, respectively, and had zero and 3 properties that were disqualified for a total release price of $0.0 million and $0.4 million , respectively, which was used to pay down the principal balance on the loan. (2) During the years ended December 31, 2018 and 2017 , the Company substituted 89 and zero properties, respectively, and had zero and 4 properties that were disqualified for a total release price of $0.0 million and $0.5 million , respectively, which was used to pay down the principal balance on the loan. (3) During the years ended December 31, 2018 and 2017 , the Company substituted 39 and zero properties, respectively, and had zero and 2 properties that were disqualified for a total release price of $0.0 million and $0.2 million , respectively, which was used to pay down the principal balance on the loan. (4) During the year ended December 31, 2018 , the Company substituted 55 properties and had 1 property that was disqualified for a total release price of $0.1 million , which was used to pay down the principal balance on the loan
Summary of Activity that Relates to Capitalized Interest	The following table displays our total gross interest, which includes fees on our credit facilities and amortization of deferred financing costs, discounts on debt and the fair value of the exchange settlement feature of the exchangeable senior notes, and capitalized interest for the years ended December 31, 2018 , 2017 and 2016 (in thousands): For the Years Ended December 31, 2018 2017 2016 Gross interest cost $ 129,571 $ 118,276 $ 133,137 Capitalized interest (6,671 ) (5,656 ) (2,290 ) Interest expense $ 122,900 $ 112,620 $ 130,847

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Accounts payable $ 195 $ 1,726 Accrued property taxes 40,566 47,765 Other accrued liabilities 41,376 31,788 Accrued distribution payable 12,809 26,982 Accrued construction and maintenance liabilities 18,371 17,928 Resident security deposits 83,406 75,951 Prepaid rent 22,506 20,727 Total $ 219,229 $ 222,867

Shareholders' Equity _ Partne_2

Shareholders' Equity / Partners' Capital (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Preferred Shares	As of December 31, 2018 and 2017 , the Company had the following series of preferred shares outstanding (in thousands, except share data): December 31, 2018 December 31, 2017 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Liquidation Value Outstanding Shares Liquidation Value (1) Series C participating preferred shares (2) N/A N/A N/A — $ — 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 Series H perpetual preferred shares 9/19/2018 9/19/2023 6.250 % 4,600,000 115,000 — — Total preferred shares 35,350,000 $ 883,750 38,350,000 $ 986,986 (1) Liquidation value reflects initial liquidation value of $25.00 per share, which in the case of the Series C participating preferred shares was 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	The following table summarizes the income or loss allocated to noncontrolling interests as reflected in the Company's consolidated statements of operations for the years ended December 31, 2018 , 2017 and 2016 (in thousands): For the Years Ended December 31, 2018 2017 2016 Preferred income allocated to Series C convertible units $ — $ — $ 3,027 Net income (loss) allocated to Class A units 4,424 (4,648 ) (6,417 ) Net income allocated to Series D convertible units — — 134 Beneficial conversion feature related to Series D and E convertible units — — 7,569 Net (loss) income allocated to noncontrolling interest in a consolidated subsidiary (259 ) 141 (562 ) $ 4,165 $ (4,507 ) $ 3,751
Summary of Stock Option Activity Under Plan	The following table summarizes stock option activity under the Plan for the years ended December 31, 2018 , 2017 and 2016 : Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (in thousands) Options outstanding at December 31, 2015 2,484,400 $ 16.22 8.0 $ 1,225 Granted 708,000 14.15 Exercised (196,000 ) 16.18 790 Forfeited (169,900 ) 16.38 Options outstanding at December 31, 2016 2,826,500 $ 15.69 7.6 $ 14,956 Granted 385,200 23.38 Exercised (74,000 ) 15.65 520 Forfeited (85,250 ) 16.24 Options outstanding at December 31, 2017 3,052,450 $ 16.65 6.9 $ 16,421 Granted 140,000 19.40 Exercised (769,875 ) 16.07 4,754 Forfeited (170,300 ) 17.93 Options outstanding at December 31, 2018 2,252,275 $ 16.92 6.1 $ 7,713 Options exercisable at December 31, 2018 1,569,800 $ 16.21 5.4 $ 6,018 (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 years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 Weighted-average fair value $ 3.03 $ 3.82 $ 2.82 Expected term (years) 7.0 7.0 7.0 Dividend yield 3.0 % 3.0 % 3.0 % Volatility 18.9 % 21.3 % 27.3 % Risk-free interest rate 2.8 % 2.2 % 1.5 %
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 years ended December 31, 2018 , 2017 and 2016 : 2018 2017 2016 Restricted stock units at beginning of period 243,875 130,150 91,650 Units awarded 304,400 174,400 74,100 Units vested (80,125 ) (42,475 ) (27,250 ) Units forfeited (95,775 ) (18,200 ) (8,350 ) Restricted stock units at end of the period 372,375 243,875 130,150

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Schedule of Total Revenues and Net Income Attributable to Acquisitions	The following table summarizes the allocation of the estimated fair values of the assets and liabilities acquired as part of the ARPI Merger as of the acquisition date (in thousands): Net assets acquired Land $ 262,396 Buildings and improvements 1,014,857 Cash and cash equivalents 15,499 Restricted cash 9,521 Rent and other receivables 843 Escrow deposits, prepaid expenses and other assets 35,134 In-place leases 22,696 Accounts payable and accrued expenses (38,485 ) Net assets acquired 1,322,461 Debt assumed or extinguished Credit facility 350,000 Exchangeable senior notes 112,298 Asset-backed securitization 329,703 Total debt assumed or extinguished 792,001 Equity transaction consideration 530,460 Total transaction consideration $ 1,322,461
Schedule of Estimated Fair Values of Assets and Liabilities Acquired	The following table presents the total revenues and net income attributable to the ARPI Merger that are included in our consolidated statements of operations for the year ended December 31, 2016 (in thousands): For the Period from February 29, 2016 to December 31, 2016 Total revenues $ 119,245 Net income $ 1,237
Schedule of Company's Supplemental Consolidated Unaudited Pro Forma Total Revenues and Net Income	The following table presents the Company’s supplemental consolidated pro forma total revenues and net loss as if the ARPI Merger had occurred on January 1, 2015 (in thousands, except per share amounts): For the Years Ended December 31, 2016 2015 Pro forma total revenues (1) $ 900,958 $ 754,710 Pro forma net loss (1) $ (8,989 ) $ (54,995 ) Pro forma net loss per share / unit (1) $ (0.22 ) $ (0.37 ) (1) This unaudited pro forma supplemental information does not purport to be indicative of what our operating results would have been had the ARPI Merger occurred on January 1, 2015.

Earnings per Share _ Unit (Tabl

Earnings per Share / Unit (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of Net 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except share and per share data): For the Years Ended December 31, 2018 2017 2016 Numerator: Net income $ 112,438 $ 76,492 $ 10,446 Less: Noncontrolling interest 4,165 (4,507 ) 3,751 Dividends on preferred shares 52,586 60,718 40,237 Redemption of participating preferred shares 32,215 42,416 — Allocation to participating securities (1) 85 — — Numerator for income (loss) per common share–basic and diluted $ 23,387 $ (22,135 ) $ (33,542 ) Denominator: Weighted-average common shares outstanding–basic 293,640,500 264,254,718 234,010,168 Effect of dilutive securities: Share-based compensation plan (2) 627,830 — — Weighted-average common shares outstanding–diluted (3) 294,268,330 264,254,718 234,010,168 Net income (loss) per common share: Basic $ 0.08 $ (0.08 ) $ (0.14 ) Diluted $ 0.08 $ (0.08 ) $ (0.14 ) (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 years ended December 31, 2018 , 2017 and 2016 , excludes an aggregate of zero , 17,084,135 and 32,914,593 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 years ended December 31, 2018 , 2017 and 2016 (in thousands, except unit and per unit data): For the Years Ended December 31, 2018 2017 2016 Numerator: Net income $ 112,438 $ 76,492 $ 10,446 Less: Noncontrolling interest (259 ) 141 (562 ) Dividends on preferred units 52,586 60,718 40,237 Redemption of participating preferred units 32,215 42,416 — Allocation to participating securities (1) 85 — — Income allocated to Series C and D limited partners — — 10,730 Numerator for income (loss) per common unit–basic and diluted $ 27,811 $ (26,783 ) $ (39,959 ) Denominator: Weighted-average common units outstanding–basic 348,990,561 319,753,206 277,912,532 Effect of dilutive securities: Share-based compensation plan (2) 627,830 — — Weighted-average common units outstanding–diluted (3) 349,618,391 319,753,206 277,912,532 Net income (loss) per common unit: Basic $ 0.08 $ (0.08 ) $ (0.14 ) Diluted $ 0.08 $ (0.08 ) $ (0.14 ) (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 years ended December 31, 2018 , 2017 and 2016 , excludes an aggregate of zero , 17,084,135 and 32,914,593 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 (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of Rental Expense Under Operating Leases	Rent expense related to our operating leases for the years ended December 31, 2018 , 2017 and 2016 , was as follows (in thousands): For the Years Ended December 31, 2018 2017 2016 Rent expense $ 2,829 $ 2,614 $ 2,124 Less: income from subleases (347 ) (418 ) (187 ) Net rent expense $ 2,482 $ 2,196 $ 1,937
Schedule of Future Lease Obligations Under Operating Leases	Future lease obligations under our operating leases as of December 31, 2018 , were as follows (in thousands): Year 2019 $ 2,011 2020 1,553 2021 688 2022 498 2023 126 Thereafter 15 Total lease commitments 4,891 Less: income from subleases — Net lease commitments $ 4,891

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 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 December 31, 2018 and 2017 (in thousands): December 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization 491,195 494,820 496,326 504,730 AH4R 2014-SFR3 securitization 506,760 511,450 512,041 521,252 AH4R 2015-SFR1 securitization 532,197 534,666 537,723 544,592 AH4R 2015-SFR2 securitization 462,358 467,303 467,267 475,832 Total asset-backed securitizations (1) 1,992,510 2,008,239 2,013,357 2,046,406 Unsecured senior notes (1) (2) 497,454 479,730 — — Exchangeable senior notes (2) — — 111,697 147,462 Secured note payable (3) — — 48,859 49,027 Revolving credit facility (1) (4) 250,000 250,000 140,000 140,000 Term loan facility (1) (5) 100,000 100,000 200,000 200,000 Total debt $ 2,839,964 $ 2,837,969 $ 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 $31.0 million , $4.7 million , $6.9 million , and $0.8 million , respectively, of unamortized deferred financing costs as of December 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 and exchangeable senior notes are presented net of unamortized discounts. (3) The secured note payable was paid off in full during the second quarter of 2018. (4) 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 term loan facility reasonably approximates fair value. (5) 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 December 31, 2018 and 2017 (in thousands): Description Fair Value Hierarchy December 31, 2018 December 31, 2017 Assets: Treasury lock Level 2 $ — $ 75 Liabilities: Participating preferred shares derivative liability Level 3 $ — $ 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 were measured on a recurring basis with changes in fair value recognized in remeasurement of participating preferred shares within the consolidated statements of operations for the years ended December 31, 2018 and 2017 (in thousands): Description January 1, 2018 Conversions Remeasurement included in earnings December 31, 2018 Liabilities: Participating preferred shares derivative liability $ 29,470 $ (28,258 ) $ (1,212 ) $ — Description January 1, 2017 Conversions Remeasurement December 31, 2017 Liabilities: Participating preferred shares derivative liability $ 69,810 $ (37,499 ) $ (2,841 ) $ 29,470

Quarterly Financial Informati_2

Quarterly Financial Information (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Summarized Quarterly Financial Data	American Homes 4 Rent The following table presents the Company's summarized quarterly financial data for the years ended December 31, 2018 and 2017 (in thousands, except per share data): Quarter First Second Third Fourth 2018 Rents from single-family properties $ 218,023 $ 227,211 $ 231,324 $ 232,378 Net income $ 21,525 $ 25,898 $ 30,281 $ 34,734 Net income (loss) attributable to common shareholders $ 5,814 $ (15,151 ) $ (15,177 ) $ 17,632 Net income (loss) attributable to common shareholders per share–basic $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Net income (loss) attributable to common shareholders per share–diluted $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Quarter First Second Third Fourth 2017 Rents from single-family properties $ 201,107 $ 204,648 $ 207,490 $ 210,778 Net income $ 11,796 $ 15,066 $ 19,097 $ 30,533 Net (loss) income attributable to common shareholders $ (1,490 ) $ (186 ) $ 1,535 $ (21,994 ) Net (loss) income attributable to common shareholders per share–basic $ (0.01 ) $ — $ 0.01 $ (0.08 ) Net (loss) income attributable to common shareholders per share–diluted $ (0.01 ) $ — $ — $ (0.08 ) American Homes 4 Rent, L.P. The following table presents the Operating Partnership's summarized quarterly financial data for the years ended December 31, 2018 and 2017 (in thousands, except per unit data): Quarter First Second Third Fourth 2018 Rents from single-family properties $ 218,023 $ 227,211 $ 231,324 $ 232,378 Net income $ 21,525 $ 25,898 $ 30,281 $ 34,734 Net income (loss) attributable to common unitholders $ 6,939 $ (18,053 ) $ 18,058 $ 20,952 Net income (loss) attributable to common unitholders per unit–basic $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Net income (loss) attributable to common unitholders per unit–diluted $ 0.02 $ (0.05 ) $ 0.05 $ 0.06 Quarter First Second Third Fourth 2017 Rents from single-family properties $ 201,107 $ 204,648 $ 207,490 $ 210,778 Net income $ 11,796 $ 15,066 $ 19,097 $ 30,533 Net (loss) income attributable to common unitholders $ (1,829 ) $ (217 ) $ 1,875 $ (26,612 ) Net (loss) income attributable to common unitholders per unit–basic $ (0.01 ) $ — $ 0.01 $ (0.08 ) Net (loss) income attributable to common unitholders per unit–diluted $ (0.01 ) $ — $ — $ (0.08 )

Organization and Operations (De

Organization and Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)statesingle_family_propertyproperty	Dec. 31, 2017USD ($)statesingle_family_propertyproperty
Organization and operations
Number of states | state	22	22
Limited partnership interest	15.70%
Asset-backed securitization certificates | $	$ 25,666	$ 25,666
Single family homes
Organization and operations
Number of properties | single_family_property	52,783	51,239
Single family homes | Single-Family Properties Identified as Part Of Disposal Group
Organization and operations
Number of properties	1,945
Single family homes | Properties Identified for Future Sale
Organization and operations
Number of properties		310

Significant Accounting Polici_4

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018USD ($)single_family_property	Dec. 31, 2017USD ($)single_family_property	Dec. 31, 2016USD ($)
Property Subject to or Available for Operating Lease
Single-family properties under development and development land	$ 153,651,000	$ 51,938,000
Deferred tax assets and liabilities	0
Single-family Properties Held for Sale and Discontinued Operations [Abstract]
Loss on impairment of single-family properties	5,858,000	4,680,000	$ 4,970,000
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Impairment of long-lived assets held-for-use	$ 0	$ 0	0
Leasing Costs
Lease amortization period	1 year
Building and Building Improvements | Maximum
Depreciation and Amortization
Estimated useful life of asset	30 years
Building and Building Improvements | Minimum
Depreciation and Amortization
Estimated useful life of asset	3 years
Single family homes
Single-family Properties Held for Sale and Discontinued Operations [Abstract]
Number of properties | single_family_property	52,783	51,239
Single-family properties identified for future sale | Single family homes
Single-family Properties Held for Sale and Discontinued Operations [Abstract]
Number of properties | single_family_property	1,945	310
Loss on impairment of single-family properties	$ 5,900,000	$ 4,700,000	$ 5,000,000
Value of in-place leases
Investments in Real Estate
Finite-lived intangible asset, useful life	1 year
U.S. Federal Tax Authority
Property Subject to or Available for Operating Lease
Net operating loss carryforward	$ 275,000,000

Significant Accounting Polici_5

Significant Accounting Policies (Details 2)	12 Months Ended
	Dec. 31, 2018USD ($)reportable_segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 01, 2019USD ($)
Intangible Assets
Impairment of intangible assets		$ 0	$ 0
Goodwill
Goodwill impairments	$ 0	0	0
Goodwill written off, sale of single-family properties			$ 400,000
Goodwill	120,279,000	120,279,000
Allowance for Doubtful Accounts
Allowance for doubtful accounts	$ 8,600,000	$ 10,400,000
Revenue and Expense Recognition
Revenue recognition period of operating lease	1 year
Segment Reporting
Number of reportable segments | reportable_segment	1
Leases
Indirect leasing costs	$ 8,000,000
Capitalized indirect leasing costs	$ 4,000,000
Scenario, Forecast | ASU 2016-02
Leases
Right-of-use assets				$ 4,800,000
Lease liability				$ 4,800,000
Trademark
Intangible Assets
Finite-lived intangible asset, useful life	4 years 8 months 12 days
Database
Intangible Assets
Finite-lived intangible asset, useful life	7 years

Significant Accounting Polici_6

Significant Accounting Policies (Schedule, Cash, Cash Equivalent, Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance Sheet:
Cash and cash equivalents	$ 30,284	$ 46,156	$ 118,799
Restricted cash	144,930	136,667	131,442
Statement of Cash Flows:
Cash, cash equivalents and restricted cash	$ 175,214	$ 182,823	$ 250,241	$ 168,968

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property Subject to or Available for Operating Lease
Net book value	$ 8,020,597	$ 8,029,177
Development land	97,207	39,079
Single-family properties under development	56,444	12,859
Single-family properties held for sale, net	318,327	35,803
Total real estate assets, net	8,492,575	8,116,918
Single family homes
Property Subject to or Available for Operating Lease
Total real estate assets, net	8,492,575	8,116,918
Single family homes | Single-family properties being renovated
Property Subject to or Available for Operating Lease
Net book value	83,661	225,194
Single family homes | Single-family properties being prepared for re-lease
Property Subject to or Available for Operating Lease
Net book value	61,013	47,994
Single family homes | Leased single-family properties
Property Subject to or Available for Operating Lease
Net book value	7,513,634	7,284,708
Single family homes | Vacant single-family properties available for lease
Property Subject to or Available for Operating Lease
Net book value	$ 362,289	$ 471,281

Real Estate Assets, Net - Narra

Real Estate Assets, Net - Narrative (Details)	3 Months Ended	12 Months Ended
	Sep. 30, 2017property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property	Dec. 31, 2016USD ($)property
Property Subject to or Available for Operating Lease
Net proceeds received from sales of single-family properties and other		$ 106,157,000	$ 87,063,000	$ 88,590,000
Goodwill written off, sale of single-family properties				400,000
Goodwill		120,279,000	120,279,000
Insurance settlements receivable		4,900,000	8,900,000
Hurricane-related charges, net		0	7,963,000	0
Proceeds received from hurricane-related insurance claims		4,522,000	0	0
Natural Disasters and Other Casualty Events
Property Subject to or Available for Operating Lease
Number of homes with major damage | property	125
Number of homes with minor damage | property	3,400
Impairment charge to write down the net book values of the impacted properties			11,000,000
Insurance settlements receivable			8,900,000
Additional repair, remediation and other costs			5,900,000
Aggregate net book value of the impacted properties			7,100,000
Single family homes
Property Subject to or Available for Operating Lease
Real estate investment properties unrecorded deed		5,900,000	44,200,000
Depreciation expense		$ 300,700,000	$ 281,200,000	$ 262,100,000
Number of properties sold | property		691	923	712
Net proceeds received from sales of single-family properties and other		$ 105,400,000	$ 72,600,000	$ 88,600,000
Gain on sale of single-family properties, net		16,300,000	3,600,000	$ 13,900,000
Proceeds from sale of land held-for-investment		800,000
Gain on sale of properties		$ 200,000
Receivable with imputed interest, face amount			7,000,000
Receivable with imputed interest discount			$ 1,500,000

Rent and Other Receivables, N_3

Rent and Other Receivables, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Allowance for doubtful accounts	$ 8,600	$ 10,400
Insurance settlements receivable	4,900	8,900
Nontrade Receivables		$ 1,200
Future minimum rental revenues
2,019	446,745
2,020	4,857
2,021	251
2,022	98
2,023	19
Total	$ 451,970

Deferred Costs and Other Inta_3

Deferred Costs and Other Intangibles, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Acquired Indefinite-lived Intangible Assets
Deferred leasing costs	$ 11,912	$ 7,030
Deferred financing costs	11,246	11,244
Intangible assets:
Intangible assets	25,258	23,653
Less: accumulated amortization	(12,572)	(10,628)
Total	12,686	13,025
Value of in-place leases
Intangible assets:
Intangible assets	0	179
Trademark
Intangible assets:
Intangible assets	0	3,100
Database
Intangible assets:
Intangible assets	$ 2,100	$ 2,100

Escrow Deposits, Prepaid Expe_3

Escrow Deposits, Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow deposits, prepaid expenses and other		$ 44,654	$ 33,964
Investments in joint ventures		56,789	42,341
Commercial real estate, vehicles and FF&E, net		44,591	43,608
Total		146,034	119,913
Schedule of Equity Method Investments [Line Items]
Property and land contributions to an unconsolidated joint venture		40,942	0	$ 0
Escrow deposits, prepaid expenses and other assets		146,034	119,913
American Homes 4 Rent, L.P.
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Total		145,807	119,913
Schedule of Equity Method Investments [Line Items]
Escrow deposits, prepaid expenses and other assets		145,807	$ 119,913
American Homes 4 Rent, L.P. | Joint Venture, Single-Family Rental Homes, Southeast
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Total		18,000
Schedule of Equity Method Investments [Line Items]
Aggregate cost	$ 156,300
Joint venture, initial term	5 years
Ownership percentage	20.00%
Property and land contributions to an unconsolidated joint venture		40,900
Cash payments to acquire interest in joint venture		8,400
Distributions received from the joint venture		32,800
Escrow deposits, prepaid expenses and other assets		$ 18,000

Deferred Costs and Other Inta_4

Deferred Costs and Other Intangibles, Net (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Amortization expense	$ 11	$ 9.2	$ 31.2
Amortization of deferred financing costs	$ 2	$ 1.8	$ 2.3

Deferred Costs and Other Inta_5

Deferred Costs and Other Intangibles, Net (Details 3) $ in Thousands	Dec. 31, 2018USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,019	$ 7,652
2,020	2,101
2,021	1,965
2,022	968
Total	12,686
Deferred Leasing Costs
Deferred Leasing Costs, Future Amortization Expenses [Abstract]
2,019	5,388
2,020	0
2,021	0
2,022	0
Total	5,388
Deferred Financing Costs
Debt Issuance Costs, Future Amortization Expenses [Abstract]
2,019	1,964
2,020	1,969
2,021	1,965
2,022	968
Total	6,866
Database
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,019	300
2,020	132
2,021	0
2,022	0
Total	$ 432

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Feb. 28, 2018	Jun. 30, 2017	Feb. 29, 2016
Debt Instrument [Line Items]
Total debt	$ 2,842,510,000	$ 2,517,216,000
Unamortized discount on unsecured and exchangeable notes	(2,546,000)	(895,000)
Equity component of exchangeable senior notes	0	(2,408,000)
Deferred financing costs, net	(36,421,000)	(38,026,000)
Total debt per balance sheet	2,803,543,000	2,475,887,000
Amortization of debt issuance costs	7,788,000	8,163,000	$ 10,475,000
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred financing costs, net	(6,900,000)	(8,800,000)
Asset-Backed Securitizations, Unsecured Senior Notes and Term Loan Facility
Debt Instrument [Line Items]
Amortization of debt issuance costs	5,800,000	6,400,000	$ 8,500,000
Secured Debt
Debt Instrument [Line Items]
Total debt	$ 1,992,510,000	2,013,357,000
Secured Debt | 2014-SFR 2
Debt Instrument [Line Items]
Interest rate	4.42%
Total debt	$ 491,195,000	496,326,000
Secured Debt | 2014-SFR 3
Debt Instrument [Line Items]
Interest rate	4.40%
Total debt	$ 506,760,000	512,041,000
Secured Debt | 2015-SFR 1
Debt Instrument [Line Items]
Interest rate	4.14%
Total debt	$ 532,197,000	537,723,000
Secured Debt | 2015-SFR 2
Debt Instrument [Line Items]
Interest rate	4.36%
Total debt	$ 462,358,000	467,267,000
Secured Debt | Notes Payable
Debt Instrument [Line Items]
Total debt	$ 0	48,859,000
Exchangeable senior notes | 4.25% Senior Notes Due 2028
Debt Instrument [Line Items]
Interest rate	4.25%			4.25%
Total debt	$ 500,000,000	0
Effective interest rate	4.08%
Deferred financing costs, net				$ (1,900,000)
Convertible Debt | 3.25% Exchangeable Senior Notes
Debt Instrument [Line Items]
Interest rate						3.25%
Total debt	$ 0	115,000,000
Unamortized discount on unsecured and exchangeable notes						$ (2,700,000)
Equity component of exchangeable senior notes						$ (7,000,000)
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	$ 250,000,000	140,000,000
Effective interest rate	3.70%
Credit facility maximum borrowing capacity	$ 200,000,000				$ 800,000,000
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.20%
Line of Credit | Revolving Credit Facility | Minimum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	0.825%
Line of Credit | Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Line of Credit | Revolving Credit Facility | Maximum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%
Line of Credit | Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.55%
Line of Credit | Term loan facility, net
Debt Instrument [Line Items]
Total debt	$ 100,000,000	200,000,000
Effective interest rate	3.85%
Deferred financing costs, net	$ (800,000)	$ (2,000,000)
Line of Credit | Term loan facility, net | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
Line of Credit | Term loan facility, net | Minimum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
Line of Credit | Term loan facility, net | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Line of Credit | Term loan facility, net | Maximum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Line of Credit | Term loan facility, net | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%

Debt - Narrative (Details)

Debt - Narrative (Details)	Nov. 15, 2018USD ($)	Feb. 29, 2016USD ($)day	Feb. 28, 2018USD ($)	Sep. 30, 2015USD ($)single_family_property	Mar. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Nov. 30, 2014USD ($)property	Sep. 30, 2014USD ($)property	May 31, 2014USD ($)floating_rate_componentpropertyextension_option	Jun. 30, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)single_family_propertypropertyextension_option	Dec. 31, 2017USD ($)single_family_propertyproperty	Dec. 31, 2016USD ($)property	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Loan payoff amount												$ 20,847,000	$ 477,879,000	$ 381,117,000
Gain (loss) on extinguishment of debt												(1,447,000)	(6,555,000)	(13,408,000)
Single-family properties												8,020,597,000	8,029,177,000
Proceeds from unsecured senior notes, net of discount												497,210,000	0	0
Deferred financing costs, net												$ 36,421,000	38,026,000
Minimum coverage ratio												1.20
Debt instrument, unamortized discount												$ 2,546,000	895,000
Exchangeable senior notes, net												0	111,697,000
Debt instrument, convertible, carrying amount of equity component												0	2,408,000
Payments on secured note payable												49,427,000	969,000	924,000
Total debt												2,842,510,000	2,517,216,000
Designated as Hedging Instrument | Treasury Lock
Debt Instrument [Line Items]
Derivative interest rate			4.08%
Revolving Credit Facility
Debt Instrument [Line Items]
Payments on credit facility												295,000,000	112,000,000	$ 951,000,000
Deferred financing costs, net												$ 6,900,000	$ 8,800,000
American Residential Properties Inc.
Debt Instrument [Line Items]
Purchase price		$ 1,322,461,000
Ellington Portfolio Acquisition
Debt Instrument [Line Items]
Interest rate						4.06%
Number of properties acquired | property						914
Number of properties treated as collateral | property						583
Minimum debt service coverage ratio						1.47
Single family homes
Debt Instrument [Line Items]
Number of properties | single_family_property												52,783	51,239
Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												18,009	18,334
Single-family properties												$ 2,548,384,000	$ 2,701,311,000
2014-SFR 1
Debt Instrument [Line Items]
Loan payoff amount													$ 455,400,000
Debt instrument term									2 years
Interest rate cap agreement strike rate									3.85%
Period of extension options									12 months
2014-SFR 1 | Single family homes
Debt Instrument [Line Items]
LIBOR floor rate									0.25%
Number of debt instrument extension options | extension_option									3
Proceeds from asset-backed securitizations									$ 481,000,000
Debt issuance cost									$ 14,900,000
2014-SFR 1 | Single family homes | LIBOR
Debt Instrument [Line Items]
Interest margin on reference rate									1.54%
2014-SFR 1 | Property disqualified from collateral pool | Single family homes
Debt Instrument [Line Items]
Number of homes pledged as collateral and released | property													3,799	2,875
Release of restricted cash collateral for borrowed securities											$ (9,400,000)			$ (10,100,000)
2014-SFR 2
Debt Instrument [Line Items]
Number of homes pledged as collateral and released | property												0	3
Collateral, number of properties substituted | property												65	0
Total release price												$ 0	$ 400,000
2014-SFR 2 | Single family homes
Debt Instrument [Line Items]
Loan payoff amount								$ 25,700,000
Number of properties | property								4,487
Debt instrument, face amount								$ 513,300,000
Debt instrument term								10 years
Proceeds from asset-backed securitizations								$ 487,700,000
Debt issuance cost								$ 12,900,000
Weighted-average interest rate								4.42%
2014-SFR 2 | Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												4,546	4,481
Single-family properties												$ 611,279,000	$ 627,988,000
2014-SFR 3
Debt Instrument [Line Items]
Number of homes pledged as collateral and released | property												0	4
Collateral, number of properties substituted | property												89	0
Total release price												$ 0	$ 500,000
2014-SFR 3 | Single family homes
Debt Instrument [Line Items]
Number of properties | property							4,503
Debt instrument, face amount							$ 528,400,000
Debt instrument term							10 years
Debt issuance cost							$ 12,900,000
Weighted-average interest rate							4.40%
2014-SFR 3 | Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												4,588	4,499
Single-family properties												$ 662,068,000	$ 680,788,000
2015-SFR 1
Debt Instrument [Line Items]
Number of homes pledged as collateral and released | property												0	2
Collateral, number of properties substituted | property												39	0
Total release price												$ 0	$ 200,000
2015-SFR 1 | Special Purpose Entity
Debt Instrument [Line Items]
Debt instrument, face amount					$ 552,800,000
Debt instrument term					30 years
Weighted-average interest rate					4.14%
2015-SFR 1 | Single family homes
Debt Instrument [Line Items]
Proceeds from asset-backed securitizations					$ 552,800,000
Debt issuance cost					$ 13,300,000
2015-SFR 1 | Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												4,697	4,658
Single-family properties												$ 662,202,000	$ 685,055,000
2015-SFR 2
Debt Instrument [Line Items]
Number of homes pledged as collateral and released | property												1
Collateral, number of properties substituted | property												55
Total release price												$ 100,000
2015-SFR 2 | Special Purpose Entity
Debt Instrument [Line Items]
Debt instrument, face amount				$ 477,700,000
Debt instrument term				30 years
Proceeds from asset-backed securitizations				$ 477,700,000
Debt issuance cost				$ 11,300,000
Weighted-average interest rate				4.36%
2015-SFR 2 | Single family homes | Special Purpose Entity
Debt Instrument [Line Items]
Number of properties | single_family_property				4,125
2015-SFR 2 | Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												4,178	4,124
Single-family properties												$ 612,835,000	$ 635,612,000
Notes Payable | Ellington Portfolio Acquisition
Debt Instrument [Line Items]
Purchase price						$ 51,600,000
Notes Payable | 2014-SFR 1 | Special Purpose Entity
Debt Instrument [Line Items]
Number of properties | property									3,852
Debt instrument, face amount									$ 481,000,000
Number of floating rate loan components | floating_rate_component									6
Notes Payable | 2015-SFR 1 | Special Purpose Entity
Debt Instrument [Line Items]
Number of properties | property					4,661
Term loan facility, net
Debt Instrument [Line Items]
Payments on credit facility												100,000,000	100,000,000	0
Credit Agreement
Debt Instrument [Line Items]
Debt instrument, accordion feature, higher borrowing capacity option												1,750,000,000
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount														1,000,000,000
Secured Debt
Debt Instrument [Line Items]
Total debt												$ 1,992,510,000	$ 2,013,357,000
Secured Debt | Encumbered Properties
Debt Instrument [Line Items]
Number of properties | property												0	572
Single-family properties												$ 0	$ 71,868,000
Secured Debt | 2014-SFR 1 | Special Purpose Entity
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt											$ (6,600,000)			(10,700,000)
Secured Debt | Notes Payable
Debt Instrument [Line Items]
Loan payoff amount												$ 48,400,000
Gain (loss) on extinguishment of debt										$ (500,000)
Number of homes pledged as collateral and released | property												572
Release of restricted cash collateral for borrowed securities												$ (2,100,000)
Payments on secured note payable										$ 48,400,000
Total debt												$ 0	48,859,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Number of debt instrument extension options | extension_option												2
Credit facility maximum borrowing capacity												$ 200,000,000			$ 800,000,000
Line of credit extension period												6 months
Total debt												$ 250,000,000	140,000,000
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												1.20%
Line of Credit | Minimum | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												0.825%
Line of Credit | Minimum | Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate												0.00%
Line of Credit | Maximum | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												1.55%
Line of Credit | Maximum | Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate												0.55%
Line of Credit | Special Purpose Entity
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt														$ (2,700,000)
Line of Credit | Term loan facility, net
Debt Instrument [Line Items]
Payments on credit facility												$ 100,000,000
Write off of deferred debt issuance costs												900,000
Deferred financing costs, net												800,000	2,000,000
Total debt												$ 100,000,000	200,000,000
Line of Credit | Term loan facility, net | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												1.35%
Line of Credit | Term loan facility, net | Minimum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												0.90%
Line of Credit | Term loan facility, net | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate												0.00%
Line of Credit | Term loan facility, net | Maximum | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												1.75%
Line of Credit | Term loan facility, net | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate												0.75%
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%
Proceeds from unsecured senior notes, net of discount			$ 494,000,000
Underwriting fees			3,200,000
Unamortized discount on debt			2,800,000
Deferred financing costs, net			$ 1,900,000
Total debt												$ 500,000,000	0
Convertible Debt
Debt Instrument [Line Items]
Settlement of exchangeable senior notes, aggregate payment	$ 135,100,000
Measurement period for exchange values	40 days
Measurement period prior to maturity	42 days
Fair value of liability component immediately prior to extinguishment	$ 115,000,000
Settlement consideration allocated to reacquisition of equity component	$ 20,100,000
Convertible Debt | 3.25% Exchangeable Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 115,000,000
Interest rate		3.25%
Conversion ratio												0.0556688
Debt Instrument, convertible, threshold percentage of stock price trigger		98.00%
Debt instrument, convertible, threshold trading days | day		20
Debt instrument, convertible, threshold consecutive trading days | day		5
Convertible debt		$ 112,300,000
Debt instrument, unamortized discount		2,700,000
Exchangeable senior notes, net		105,300,000
Debt instrument, convertible, carrying amount of equity component		$ 7,000,000
Total debt												$ 0	$ 115,000,000
Convertible Debt | 3.25% Exchangeable Senior Notes | Discount Rate
Debt Instrument [Line Items]
Fair value inputs, discount rate		0.067
Convertible Debt | 3.25% Exchangeable Senior Notes | Minimum
Debt Instrument [Line Items]
Debt Instrument, convertible, threshold percentage of stock price trigger		130.00%
Debt instrument, convertible, threshold consecutive trading days | day		30
Convertible Debt | 3.25% Exchangeable Senior Notes | American Residential Properties Inc.
Debt Instrument [Line Items]
Conversion ratio		0.0469423
Conversion ratio, adjusted		0.0532795
Business acquisition, equity interest issued or issuable, number of shares, multiplier		1.135

Debt Debt - Maturities (Details

Debt Debt - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2,019	$ 20,714
2,020	20,714
2,021	20,714
2,022	370,714
2,023	20,714
Thereafter	2,388,940
Total debt	2,842,510	$ 2,517,216
Unamortized discount and deferred financing costs	(38,967)
Total debt per balance sheet	$ 2,803,543	$ 2,475,887

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Gross interest cost	$ 129,571	$ 118,276	$ 133,137
Capitalized interest	(6,671)	(5,656)	(2,290)
Interest expense	$ 122,900	$ 112,620	$ 130,847

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accounts payable	$ 195	$ 1,726
Accrued property taxes	40,566	47,765
Other accrued liabilities	41,376	31,788
Accrued distribution payable	12,809	26,982
Accrued construction and maintenance liabilities	18,371	17,928
Resident security deposits	83,406	75,951
Prepaid rent	22,506	20,727
Total	$ 219,229	$ 222,867

Shareholders' Equity _ Partne_3

Shareholders' Equity / Partners' Capital - Class A Common Shares (Details) $ / shares in Units, $ in Thousands	Apr. 05, 2018	Sep. 30, 2018USD ($)shares	Mar. 31, 2018USD ($)shares	Mar. 31, 2017$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)	Sep. 30, 2017$ / shares	Mar. 31, 2016$ / sharesshares
Class of Stock [Line Items]
Proceeds from issuance of Class A common shares | $					$ 0	$ 694,765	$ 102,830
Class A common shares/units
Class of Stock [Line Items]
Stock exchange ratio	1.4275
Issuance of class A common shares, net of offering costs (in shares)		13,800,000	14,842,982	36,546,170
Common shares, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01	$ 0.01		$ 0.01	$ 0.01
Proceeds from issuance of Class A common shares | $		$ 312,000	$ 336,500
Stock issuance costs | $		$ 9,200	$ 400		$ 0	$ 10,637	$ 227
Class A Units | American Residential Properties Inc.
Class of Stock [Line Items]
Units outstanding (in shares)									1,343,843
Operating Partnership | Class A Units
Class of Stock [Line Items]
Stock exchange ratio					1
General partner ownership interest					84.30%
Percentage of units outstanding						83.80%
Units outstanding (in shares)					351,966,447	342,099,865
Operating Partnership | Class A Units | American Residential Properties Inc.
Class of Stock [Line Items]
Percentage of units outstanding					0.30%
Units outstanding (in shares)						1,073,509

Shareholders' Equity _ Partne_4

Shareholders' Equity / Partners' Capital - At the Market Common Share Offering Program (Details) - USD ($)	3 Months Ended			12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2017
Class of Stock [Line Items]
Proceeds from issuance of Class A common shares				$ 0	$ 694,765,000	$ 102,830,000
Class A common shares/units
Class of Stock [Line Items]
Common stock, shares issued (in shares)	13,800,000	14,842,982	36,546,170
Proceeds from issuance of Class A common shares	$ 312,000,000	$ 336,500,000
Stock issuance costs	$ 9,200,000	$ 400,000		0	$ 10,637,000	227,000
At the Market - Common Share Offering Program | Class A common shares/units
Class of Stock [Line Items]
Shares reserved for future issuance						$ 400,000,000
Common stock, shares issued (in shares)					2,000,000	4,900,000
Proceeds from issuance of Class A common shares					$ 46,200,000	$ 104,000,000
Sale of stock, price per share (in dollars per share)					$ 22.74	$ 21.13
Proceeds from sale of stock, net of issuance costs					$ 45,600,000	$ 102,800,000
Stock issuance costs					$ 600,000	$ 1,200,000
Capital shares amount authorized for future issuance							$ 500,000,000
Remaining available for future shares				$ 500,000,000

Shareholders' Equity _ Partne_5

Shareholders' Equity / Partners' Capital - Share Repurchase Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Feb. 28, 2018	Sep. 30, 2015
Class A common shares/units
Class of Stock [Line Items]
Repurchase of Class A common stock, authorized amount				$ 300,000,000		$ 300,000,000
Weighted-average price of shares (in dollars per share)	$ 19.36		$ 15.44
Total cost of Class A common shares	$ 34,900,000		$ 96,000,000
Remaining repurchase authorization amount	$ 265,100,000
Class A common shares/units | Common Stock
Class of Stock [Line Items]
Repurchases and retire of Class A common shares (in shares)	1,800,000	0	6,200,000
Preferred shares
Class of Stock [Line Items]
Repurchase of Class A common stock, authorized amount	$ 250,000,000				$ 250,000,000

Shareholders' Equity _ Partne_6

Shareholders' Equity / Partners' Capital - Class B Common Shares (Details) - Class B common shares	12 Months Ended
	Dec. 31, 2018Voteshares
Class of Stock [Line Items]
Common shares entitled to vote | Vote	50
Voting interest percent	30.00%
2012 Offering | AH LLC | 2,770 Property Contribution
Class of Stock [Line Items]
Common stock issued in connection with investment (in shares) | shares	635,075

Shareholders' Equity _ Partne_7

Shareholders' Equity / Partners' Capital - Participating Preferred Shares (Details) $ / shares in Units, $ in Thousands	Apr. 05, 2018shares	Oct. 03, 2017shares	Sep. 30, 2018USD ($)$ / sharesshares	Mar. 31, 2018USD ($)shares	Sep. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2017USD ($)$ / sharesshares	Mar. 31, 2017shares	Jun. 30, 2016USD ($)shares	Jun. 30, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Mar. 31, 2014USD ($)shares	Dec. 31, 2018USD ($)market$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)
Class of Stock [Line Items]
Preferred shares, shares outstanding (in shares) | shares												35,350,000	38,350,000
Current Liquidation Value												$ 883,750	$ 986,986
Liquidation preference per share (in dollars per share) | $ / shares												$ 25
Number of top markets used for purchase price index | market												20
Dividend rate, percentage cap												9.00%
Series C Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate									5.50%			5.50%	5.50%	5.50%
Preferred shares, shares outstanding (in shares) | shares												0	7,600,000
Current Liquidation Value												$ 0	$ 218,236
Liquidation preference per share (in dollars per share) | $ / shares												$ 25
Preferred units issued (in shares) | shares									7,600,000
Gross proceeds from issuance of Preferred shares before offering costs									$ 190,000
Offering costs									$ 9,700
Series D Perpetual Preferred Shares/Units
Class of Stock [Line Items]
Cumulative annual cash dividend rate								6.50%				6.50%
Preferred shares, shares outstanding (in shares) | shares												10,750,000	10,750,000
Current Liquidation Value												$ 268,750	$ 268,750
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares								10,750,000
Gross proceeds under issuance of preferred shares								$ 268,800
Offering costs								$ 8,500
Series E Perpetual Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate								6.35%				6.35%
Preferred shares, shares outstanding (in shares) | shares												9,200,000	9,200,000
Current Liquidation Value												$ 230,000	$ 230,000
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares								9,200,000
Gross proceeds under issuance of preferred shares								$ 230,000
Offering costs								$ 7,500
Series F Perpetual Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate						5.875%						5.875%
Preferred shares, shares outstanding (in shares) | shares												6,200,000	6,200,000
Current Liquidation Value												$ 155,000	$ 155,000
Liquidation preference per share (in dollars per share) | $ / shares						$ 25
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares						6,200,000
Gross proceeds under issuance of preferred shares						$ 155,000
Offering costs						$ 5,300
Series G Perpetual Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate					5.875%							5.875%
Preferred shares, shares outstanding (in shares) | shares												4,600,000	4,600,000
Current Liquidation Value												$ 115,000	$ 115,000
Liquidation preference per share (in dollars per share) | $ / shares					$ 25
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares					4,600,000
Gross proceeds under issuance of preferred shares					$ 115,000
Offering costs					$ 4,100
Series H Perpetual Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate			6.25%									6.25%
Preferred shares, shares outstanding (in shares) | shares												4,600,000	0
Current Liquidation Value												$ 115,000	$ 0
Liquidation preference per share (in dollars per share) | $ / shares			$ 25									$ 25
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares			4,600,000
Gross proceeds under issuance of preferred shares			$ 115,000
Offering costs			$ 4,400
Class A common shares/units
Class of Stock [Line Items]
Percent of cumulative change in value of an index	50.00%	50.00%										50.00%
Redemptions of Class A units (in shares) | shares	10,848,827
Stock exchange ratio	1.4275
Issuance of perpetual preferred shares, net of offering costs (in shares) | shares			13,800,000	14,842,982			36,546,170
Offering costs			$ 9,200	$ 400								$ 0	$ 10,637	$ 227
Series B Participating Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		5.00%									5.00%	5.00%	5.00%	5.00%
Preferred shares, shares outstanding (in shares) | shares		4,400,000
Liquidation preference per share (in dollars per share) | $ / shares												$ 25
Preferred units issued (in shares) | shares											4,400,000
Gross proceeds from issuance of Preferred shares before offering costs											$ 110,000
Offering costs											$ 6,600
Series A Participating Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		5.00%								5.00%			5.00%	5.00%
Preferred shares, shares outstanding (in shares) | shares		5,060,000
Redemptions of Class A units (in shares) | shares		12,398,276
Preferred units issued (in shares) | shares										5,060,000
Gross proceeds from issuance of Preferred shares before offering costs										$ 126,500
Offering costs										$ 7,300

Shareholders' Equity _ Partne_8

Shareholders' Equity / Partners' Capital - Redemption of Series A and B Participating Preferred Shares (Details) $ / shares in Units, $ in Thousands	Apr. 05, 2018marketshares	Oct. 03, 2017marketshares	Jun. 30, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)	Sep. 30, 2017$ / shares	Mar. 31, 2017$ / shares	Mar. 31, 2016$ / shares
Class of Stock [Line Items]
Redemption of participating preferred shares | $						$ 32,215	$ 42,416	$ 0
Preferred shares, shares outstanding (in shares)						35,350,000	38,350,000
Preferred shares, par value (in dollars per share) | $ / shares						$ 0.01	$ 0.01
Conversion ratio		1.3106
Series C Preferred Stock
Class of Stock [Line Items]
Conversion of preferred units (in shares)	7,600,000
Cumulative annual cash dividend rate			5.50%			5.50%	5.50%	5.50%
Preferred shares, shares outstanding (in shares)						0	7,600,000
Class A common shares/units
Class of Stock [Line Items]
Common shares, par value (in dollars per share) | $ / shares						$ 0.01	$ 0.01		$ 0.01	$ 0.01	$ 0.01
Redemption of Series A and B participating preferred shares (in shares)	10,848,827
Stock exchange ratio	1.4275
Percent of cumulative change in value of an index	50.00%	50.00%				50.00%
Number of markets used in calculation | market	20	20
Maximum internal rate of return	9.00%
Redemption of participating preferred shares | $						$ 32,200
Preferred stock redemption premium | $						$ 42,400
Series A Participating Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		5.00%		5.00%			5.00%	5.00%
Redemption of Series A and B participating preferred shares (in shares)		12,398,276
Preferred shares, shares outstanding (in shares)		5,060,000
Preferred shares, par value (in dollars per share) | $ / shares						$ 0.01
Series B Participating Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		5.00%			5.00%	5.00%	5.00%	5.00%
Preferred shares, shares outstanding (in shares)		4,400,000

Shareholders' Equity _ Partne_9

Shareholders' Equity / Partners' Capital - Conversion of Series C Convertible Units into Class A Units (Details) - AH LLC - Series C Convertible Units - Operating Partnership	Feb. 28, 2016shares
Class of Stock [Line Items]
Units owned (in shares)	31,085,974
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1

Shareholders' Equity _ Partn_10

Shareholders' Equity / Partners' Capital - Conversion of Series E Convertible Unit into Series D Convertible Units (Details) $ in Thousands	Feb. 29, 2016USD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Class of Stock [Line Items]
Gain on conversion of Series E units | $	$ 11,500	$ 0	$ 0	$ 11,463
Series E Convertible Units
Class of Stock [Line Items]
Contingent beneficial conversion, Series E | $	$ 2,800
Series E Convertible Units | Operating Partnership
Class of Stock [Line Items]
Units owned (in shares) | shares	4,375,000
Series E Convertible Units | AH LLC | Operating Partnership
Class of Stock [Line Items]
Units owned (in shares) | shares	4,375,000
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1

Shareholders' Equity _ Partn_11

Shareholders' Equity / Partners' Capital - Conversion of Series D Convertible Units into Class A Units (Details) $ / shares in Units, $ in Millions	Sep. 30, 2016USD ($)shares	Feb. 29, 2016USD ($)shares	Dec. 31, 2018$ / shares
Series D Convertible Units
Class of Stock [Line Items]
Percent of distributions claimed on operating partnership			70.00%
Period after issuance for eligibility to participate in operating partnership distributions			30 months
Limited liability company or limited partnership, conversion requirements, adjusted funds from operations (in dollars per share) | $ / shares			$ 0.80
Limited liability company or limited partnership, conversion requirements, average price per common share (in dollars per share) | $ / shares			$ 18
Contingent beneficial conversion, Series E | $	$ 7.6
Series D Convertible Units | Operating Partnership
Class of Stock [Line Items]
Units owned (in shares)	8,750,000
Series D Convertible Units | Operating Partnership | AH LLC
Class of Stock [Line Items]
Limited liability company or limited partnership, conversion ratio	1		1
Series E Convertible Units
Class of Stock [Line Items]
Contingent beneficial conversion, Series E | $		$ 2.8
Series E Convertible Units | Operating Partnership
Class of Stock [Line Items]
Units owned (in shares)		4,375,000
Series E Convertible Units | Operating Partnership | AH LLC
Class of Stock [Line Items]
Units owned (in shares)		4,375,000

Shareholders' Equity _ Partn_12

Shareholders' Equity / Partners' Capital - Distributions (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 03, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)											$ 0.98403
Series C Convertible Units
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)										$ 0.06517
Class A common shares/units
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)									$ 0.2	0.2	0.2
Class B common shares
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)									0.20	0.20	0.20
Series C Preferred Stock
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)									$ 0.34	$ 1.38	$ 1.375
Preferred Shares dividend rate						5.50%			5.50%	5.50%	5.50%
Series D Perpetual Preferred Shares/Units
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)			$ 0.11								$ 0.80257
Preferred Shares dividend rate					6.50%				6.50%
Preferred stock, dividends per share, declared (in dollars per share)									$ 1.63	$ 1.63
Series E Perpetual Preferred Stock
Class of Stock [Line Items]
Preferred Shares dividend rate					6.35%				6.35%
Preferred stock, dividends per share, declared (in dollars per share)									$ 1.59	1.59
Series F Perpetual Preferred Stock
Class of Stock [Line Items]
Preferred Shares dividend rate				5.875%					5.875%
Preferred stock, dividends per share, declared (in dollars per share)									$ 1.47	1.01
Series G Perpetual Preferred Stock
Class of Stock [Line Items]
Preferred Shares dividend rate			5.875%						5.875%
Preferred stock, dividends per share, declared (in dollars per share)									$ 1.47	0.67
Series H Perpetual Preferred Stock
Class of Stock [Line Items]
Preferred Shares dividend rate		6.25%							6.25%
Preferred stock, dividends per share, declared (in dollars per share)									$ 0.44
Series A Participating Preferred Stock
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)										$ 0.94	$ 1.25
Preferred Shares dividend rate	5.00%						5.00%			5.00%	5.00%
Series B Participating Preferred Stock
Class of Stock [Line Items]
Dividend payable per share (in dollars per share)										$ 0.94	$ 1.25
Preferred Shares dividend rate	5.00%							5.00%	5.00%	5.00%	5.00%
U.S. Federal Tax Authority
Class of Stock [Line Items]
Net operating loss carryforward									$ 275

Shareholders' Equity _ Partn_13

Shareholders' Equity / Partners' Capital - Noncontrolling Interest Narrative (Details) - Class A Units - shares	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2016
American Residential Properties Inc.
Class of Stock [Line Items]
Units outstanding (in shares)			1,343,843
Operating Partnership
Class of Stock [Line Items]
Equity interest rate		83.80%
Units outstanding (in shares)	351,966,447	342,099,865
Operating Partnership | American Residential Properties Inc.
Class of Stock [Line Items]
Equity interest rate	0.30%
Units outstanding (in shares)		1,073,509
AH LLC
Class of Stock [Line Items]
Units owned (in shares)	54,243,317	54,276,644
AH LLC | Operating Partnership
Class of Stock [Line Items]
Equity interest rate	15.40%	15.90%

Shareholders' Equity _ Partn_14

Shareholders' Equity / Partners' Capital - Noncontrolling Interest Reflected in Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Noncontrolling interest	$ 4,165	$ (4,507)	$ 3,751
Consolidated Subsidiaries With Noncontrolling Interest
Class of Stock [Line Items]
Noncontrolling interest	(259)	141	(562)
Series C Convertible Units
Class of Stock [Line Items]
Noncontrolling interest	0	0	3,027
Class A Units
Class of Stock [Line Items]
Noncontrolling interest	4,424	(4,648)	(6,417)
Series D Convertible Units
Class of Stock [Line Items]
Noncontrolling interest	0	0	134
Noncontrolling interest, beneficial conversion feature	$ 0	$ 0	$ 7,569

Shareholders' Equity _ Partn_15

Shareholders' Equity / Partners' Capital - 2012 Equity Incentive Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012
Class of Stock [Line Items]
Noncash share-based compensation	$ 3,433	$ 4,212	$ 3,636
Restatement Adjustment | Reclassification of Noncash Share-based Compensation to General and Administrative Expenses
Class of Stock [Line Items]
Share-based compensation expense	2,100	2,600	2,100
Restatement Adjustment | Reclassification of Noncash Share-based Compensation to Property Management Expenses
Class of Stock [Line Items]
Share-based compensation expense	1,300	1,600	1,500
Stock options and Restricted stock units
Class of Stock [Line Items]
Noncash share-based compensation	3,400	$ 4,200	$ 3,600
Stock options
Class of Stock [Line Items]
Total unrecognized compensation cost	$ 1,400
Weighted-average period of unvested cost	2 years
Restricted stock units
Class of Stock [Line Items]
Total unrecognized compensation cost	$ 5,600
Weighted-average period of unvested cost	2 years 9 months 11 days
2012 Equity Incentive Plan | Board of Trustees
Class of Stock [Line Items]
Vesting period		4 years	4 years
Expiration period	10 years	10 years	10 years
2012 Equity Incentive Plan | Restricted stock units
Class of Stock [Line Items]
Stock options granted (in shares)	304,400	174,400	74,100
2012 Equity Incentive Plan | Class A common shares/units
Class of Stock [Line Items]
Shares available for issuance (in shares)				6,000,000
2012 Equity Incentive Plan | Class A common shares/units | Stock options
Class of Stock [Line Items]
Stock options granted (in shares)	140,000	385,200	708,000

Shareholders' Equity _ Partn_16

Shareholders' Equity / Partners' Capital - Stock Option Activity (Details) - Stock options - 2012 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning of period (in shares)	3,052,450	2,826,500	2,484,400
Granted (in shares)	140,000	385,200	708,000
Exercised (in shares)	(769,875)	(74,000)	(196,000)
Forfeited (in shares)	(170,300)	(85,250)	(169,900)
Options outstanding, end of period (in shares)	2,252,275	3,052,450	2,826,500	2,484,400
Share-based Compensation Arrangement by Share-based Payment Award, Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning balance (in dollars per share)	$ 16.65	$ 15.69	$ 16.22
Granted (in dollars per share)	19.40	23.38	14.15
Exercised (in dollars per share)	16.07	15.65	16.18
Forfeited (in dollars per share)	17.93	16.24	16.38
Options outstanding, ending balance (in dollars per share)	$ 16.92	$ 16.65	$ 15.69	$ 16.22
Options outstanding, weighted average contractual life	6 years 1 month 6 days	6 years 10 months 10 days	7 years 7 months 6 days	8 years 7 days
Share-based Compensation Arrangement by Share-based Payment Award, Intrinsic Value [Roll Forward]
Options outstanding, intrinsic value	$ 7,713	$ 16,421	$ 14,956	$ 1,225
Exercised, intrinsic value	$ 4,754	$ 520	$ 790
Options exercisable at period end (in shares)	1,569,800
Options exercisable at period end (in dollars per share)	$ 16.21
Options exercisable at period end, weighted average contractual life	5 years 4 months 24 days
Options exercisable at period end, intrinsic value	$ 6,018

Shareholders' Equity _ Partn_17

Shareholders' Equity / Partners' Capital - Valuation Inputs (Details) - Class A common shares/units - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value (in dollars per share)	$ 3.03	$ 3.82	$ 2.82
Expected term (years)	7 years	7 years	7 years
Dividend yield	3.00%	3.00%	3.00%
Volatility	18.90%	21.30%	27.30%
Risk-free interest rate	2.80%	2.20%	1.50%

Shareholders' Equity _ Partn_18

Shareholders' Equity / Partners' Capital - Restricted Stock Units (Details) - Restricted stock units - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units at beginning of period (in shares)	243,875	130,150	91,650
Units awarded (in shares)	304,400	174,400	74,100
Units vested (in shares)	(80,125)	(42,475)	(27,250)
Units forfeited (in shares)	(95,775)	(18,200)	(8,350)
Restricted stock units at end of period (in shares	372,375	243,875	130,150

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction
Amounts payable to affiliates		$ 4,967	$ 4,720
American Homes 4 Rent, L.P.
Related Party Transaction
Amounts payable to affiliates		$ 4,967	$ 4,720
Class A common shares/units
Related Party Transaction
Common stock, shares outstanding (in shares)		286,114,637	242,740,482
Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)		635,075	635,075
Affiliates
Related Party Transaction
Percent of shares held		27.30%	26.10%
Due from affiliates			$ 4,700
Affiliates | American Homes 4 Rent, L.P.
Related Party Transaction
Amounts payable to affiliates		$ 5,000
Due from affiliates		$ 25,700	$ 25,700
Affiliates | Class A common shares/units
Related Party Transaction
Percent of shares held		14.00%	12.10%
Common stock, shares outstanding (in shares)		53,985,492	54,018,819
Affiliates | Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)		635,075	635,075
Board of Directors Chairman | Class A common shares/units | Private Placement
Related Party Transaction
Consideration received for stock	$ 50,000

Acquisitions - Merger with Amer

Acquisitions - Merger with American Residential Homes - Narrative (Details) - American Residential Properties Inc. $ / shares in Units, $ in Thousands	Feb. 29, 2016USD ($)single_family_property$ / sharesshares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Equity interest, percentage	12.70%
Equity transaction consideration | $	$ 530,460
Business acquisition, share price (in dollars per share) | $ / shares	$ 14
Business acquisition, transaction costs | $	$ 5,800	$ 5,800	$ 1,600
Business combination, number of properties acquired | single_family_property	8,936
Class A common shares/units
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1.135
Business acquisition, equity interest issued or issuable (in shares) | shares	36,546,170
Class A Units
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1.135
Business acquisition, equity interest issued or issuable (in shares) | shares	1,343,843

Acquisitions - Merger with Am_2

Acquisitions - Merger with American Residential Properties - Tables (Details) - American Residential Properties Inc. - USD ($) $ / shares in Units, $ in Thousands	Feb. 29, 2016	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets Assumed and Liabilities Acquired [Abstract]
Land	$ 262,396
Buildings and improvements	1,014,857
Cash and cash equivalents	15,499
Restricted cash	9,521
Rent and other receivables	843
Escrow deposits, prepaid expenses and other assets	35,134
In-place leases	22,696
Accounts payable and accrued expenses	(38,485)
Net assets acquired	1,322,461
Debt assumed or extinguished	792,001
Equity transaction consideration	530,460
Total transaction consideration	1,322,461
Revenues and Income Attributable to Business Combination [Abstract]
Total revenues		$ 119,245
Net income		$ 1,237
Pro Forma Supplemental Information [Abstract]
Pro forma total revenues					$ 900,958	$ 754,710
Pro forma net loss					$ (8,989)	$ (54,995)
Pro forma net loss per share (in dollars per share)					$ (0.22)	$ (0.37)
Credit facility
Assets Assumed and Liabilities Acquired [Abstract]
Debt assumed or extinguished	350,000
Exchangeable senior notes
Assets Assumed and Liabilities Acquired [Abstract]
Debt assumed or extinguished	112,298		$ 0	$ 0	$ 112,298
Asset-backed securitization
Assets Assumed and Liabilities Acquired [Abstract]
Debt assumed or extinguished	$ 329,703		$ 0	$ 0	$ 329,703

Earnings per Share _ Unit (Deta

Earnings per Share / Unit (Details) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018$ / shares	Sep. 30, 2018$ / shares	Jun. 30, 2018$ / shares	Mar. 31, 2018$ / shares	Dec. 31, 2017$ / shares	Sep. 30, 2017$ / shares	Jun. 30, 2017$ / shares	Mar. 31, 2017$ / shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Numerator:
Net income (loss)									$ 112,438	$ 76,492	$ 10,446
Less:
Noncontrolling interest									4,165	(4,507)	3,751
Dividends on preferred shares/units									52,586	60,718	40,237
Redemption of participating preferred shares/units									32,215	42,416	0
Allocation to participating securities									85	0	0
Numerator for income (loss) per common share–basic and diluted									$ 23,387	$ (22,135)	$ (33,542)
Denominator:
Weighted-average common shares outstanding - basic (in shares) | shares									293,640,500	264,254,718	234,010,168
Effect of dilutive securities: Share-based compensation plan (in shares) | shares									627,830	0	0
Weighted-average common shares outstanding - diluted (in shares) | shares									294,268,330	264,254,718	234,010,168
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0.01	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)
Diluted (in dollars per share) | $ / shares	0.06	0.05	(0.05)	0.02	(0.08)	0	0	(0.01)	$ 0.08	$ (0.08)	$ (0.14)
Potentially dilutive securities | shares									0	17,084,135	32,914,593
Operating Partnership | Class A Units
Net income (loss) per common share/unit
Stock exchange ratio									1
American Homes 4 Rent, L.P.
Numerator:
Net income (loss)									$ 112,438	$ 76,492	$ 10,446
Less:
Noncontrolling interest									(259)	141	(562)
Dividends on preferred shares/units									52,586	60,718	40,237
Redemption of participating preferred shares/units									32,215	42,416	0
Allocation to participating securities									85	0	0
Income allocated to Series C and D limited partners									0	0	10,730
Numerator for income (loss) per common share–basic and diluted									$ 27,811	$ (26,783)	$ (39,959)
Denominator:
Weighted-average common units outstanding - basic (in shares) | shares									348,990,561	319,753,206	277,912,532
Effect of dilutive securities: Share-based compensation plan (in shares) | shares									627,830	0	0
Weighted-average common units outstanding - diluted (in shares) | shares									349,618,391	319,753,206	277,912,532
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	0.06	0.05	(0.05)	0.02	(0.08)	0.01	0	(0.01)	$ 0.08	$ (0.08)	$ (0.14)
Diluted (in dollars per share) | $ / shares	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)
Potentially dilutive securities | shares									0	17,084,135	32,914,593
American Homes 4 Rent, L.P. | Series C Preferred Stock
Net income (loss) per common share/unit
Net loss per common unit - basic and diluted (in dollars per share) | $ / shares									$ 0	$ 0	$ 0.61
American Homes 4 Rent, L.P. | Series D Perpetual Preferred Shares/Units
Net income (loss) per common share/unit
Net loss per common unit - basic and diluted (in dollars per share) | $ / shares									0	0	1.32
American Homes 4 Rent, L.P. | Series E Operating Partnership Units
Net income (loss) per common share/unit
Net loss per common unit - basic and diluted (in dollars per share) | $ / shares									$ 0	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating leases rental expenses
Rent expense	$ 2,829	$ 2,614	$ 2,124
Less: income from subleases	(347)	(418)	(187)
Net rent expense	2,482	$ 2,196	$ 1,937
Future lease obligations under our operating leases
2,019	2,011
2,020	1,553
2,021	688
2,022	498
2,023	126
Thereafter	15
Total lease commitments	4,891
Less: income from subleases	0
Net lease commitments	$ 4,891

Commitments and Contingencies_3

Commitments and Contingencies (Details 2) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)single_family_property	Dec. 31, 2017USD ($)single_family_property	Dec. 31, 2016USD ($)
Commitments and contingencies
Number of real estate properties held-for-sale in escrow | single_family_property	78	69
Expected proceeds from sale of property held-for-sale	$ 13.6	$ 7
Company contributions	1.3	0.9	$ 0.7
Silver Bay Realty Trust Corp.
Commitments and contingencies
Gain on sale of equity instruments		3
Single Family
Commitments and contingencies
Third party development agreements and land	25.3	128.1
Land
Commitments and contingencies
Third party development agreements and land	$ 58.1	$ 24
Commitment to acquire properties
Commitments and contingencies
Number of properties | single_family_property	88	520

Noncash Transactions (Details)

Noncash Transactions (Details) - American Residential Properties Inc.	Feb. 29, 2016shares
Nonmonetary Transaction
Business combination, step acquisition, equity interest in acquiree, percentage	12.70%
Class A common shares/units
Nonmonetary Transaction
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1.135
Business acquisition, equity interest issued or issuable (in shares)	36,546,170
Class A Units
Nonmonetary Transaction
Business acquisition, equity interest issued or issuable, number of shares, multiplier	1.135
Business acquisition, equity interest issued or issuable (in shares)	1,343,843

Fair Value - Carrying Value and

Fair Value - Carrying Value and Fair Value (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Oct. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred financing costs, net		$ 36,421,000	$ 38,026,000
Reclassification adjustment for amortization of interest expense included in net income	$ 9,600,000
Designated as Hedging Instrument | Treasury Lock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount				$ 350,000,000
Treasury lock				$ 100,000
Credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred financing costs, net		$ 6,900,000	8,800,000
Credit facility | LIBOR | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		1.20%
Credit facility | LIBOR | Minimum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.825%
Credit facility | LIBOR | Maximum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		1.55%
Credit facility | Base Rate | Minimum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.00%
Credit facility | Base Rate | Maximum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.55%
Asset-backed securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred financing costs, net		$ 31,000,000	36,000,000
Unsecured Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred financing costs, net		4,700,000	0
Term loan facility, net | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred financing costs, net		$ 800,000	2,000,000
Term loan facility, net | LIBOR | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		1.35%
Term loan facility, net | LIBOR | Minimum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.90%
Term loan facility, net | LIBOR | Maximum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		1.75%
Term loan facility, net | Base Rate | Minimum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.00%
Term loan facility, net | Base Rate | Maximum | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable rate		0.75%
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		$ 1,992,510,000	2,013,357,000
Unsecured senior notes		497,454,000	0
Exchangeable senior notes		0	111,697,000
Secured notes payable		0	48,859,000
Revolving credit facility		250,000,000	140,000,000
Term loan facility		100,000,000	200,000,000
Total debt		2,839,964,000	2,513,913,000
Carrying Value | 2014-SFR 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		491,195,000	496,326,000
Carrying Value | 2014-SFR 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		506,760,000	512,041,000
Carrying Value | 2015-SFR 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		532,197,000	537,723,000
Carrying Value | 2015-SFR 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		462,358,000	467,267,000
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		2,008,239,000	2,046,406,000
Unsecured senior notes		479,730,000	0
Exchangeable senior notes		0	147,462,000
Secured notes payable		0	49,027,000
Revolving credit facility		250,000,000	140,000,000
Term loan facility		100,000,000	200,000,000
Total debt		2,837,969,000	2,582,895,000
Fair Value | 2014-SFR 2 | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		494,820,000	504,730,000
Fair Value | 2014-SFR 3 | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		511,450,000	521,252,000
Fair Value | 2015-SFR 1 | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		534,666,000	544,592,000
Fair Value | 2015-SFR 2 | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization		$ 467,303,000	$ 475,832,000

Fair Value - Interest Rate Cap,

Fair Value - Interest Rate Cap, Convertible Series E, and Preferred Shares (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Liabilities:
Participating preferred shares derivative liability	$ 0	$ 29,470	$ 69,810
Recurring | Level 2
Assets:
Treasury lock	0	75
Recurring | Level 3
Liabilities:
Participating preferred shares derivative liability	$ 0	$ 29,470

Fair Value - Level 3 Liabilitie

Fair Value - Level 3 Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Participating preferred shares derivative liability
Preferred shares derivative liability beginning balance	$ 29,470	$ 69,810
Conversions	(28,258)	(37,499)
Remeasurement included in earnings	(1,212)	(2,841)	$ 7,020
Preferred shares derivative liability ending balance	$ 0	$ 29,470	$ 69,810

Quarterly Financial Informati_3

Quarterly Financial Information (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in Accounting Estimate [Line Items]
Rents from single-family properties	$ 232,378	$ 231,324	$ 227,211	$ 218,023	$ 210,778	$ 207,490	$ 204,648	$ 201,107
Net income (loss)	34,734	30,281	25,898	21,525	30,533	19,097	15,066	11,796	$ 112,438	$ 76,492	$ 10,446
Net (loss) income attributable to common shareholders/unitholders	$ 17,632	$ (15,177)	$ (15,151)	$ 5,814	$ (21,994)	$ 1,535	$ (186)	$ (1,490)	$ 23,472	$ (22,135)	$ (33,542)
Net income (loss) attributable to common shareholders per share—basic (in dollars per share)	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0.01	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)
Net income (loss) attributable to common shareholders per share - diluted (in dollars per share)	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)
American Homes 4 Rent, L.P.
Change in Accounting Estimate [Line Items]
Rents from single-family properties	$ 232,378	$ 231,324	$ 227,211	$ 218,023	$ 210,778	$ 207,490	$ 204,648	$ 201,107
Net income (loss)	34,734	30,281	25,898	21,525	30,533	19,097	15,066	11,796	$ 112,438	$ 76,492	$ 10,446
Net (loss) income attributable to common shareholders/unitholders	$ 20,952	$ 18,058	$ (18,053)	$ 6,939	$ (26,612)	$ 1,875	$ (217)	$ (1,829)	$ 27,896	$ (26,783)	$ (39,959)
Net income (loss) attributable to common unitholders per unit - basic (in dollars per share)	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0.01	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)
Net income (loss) attributable to common unitholders per unit - diluted (in dollars per share)	$ 0.06	$ 0.05	$ (0.05)	$ 0.02	$ (0.08)	$ 0	$ 0	$ (0.01)	$ 0.08	$ (0.08)	$ (0.14)

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 21, 2019$ / shares	Jan. 31, 2019USD ($)	Feb. 28, 2018USD ($)	Feb. 22, 2019USD ($)property	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)
Subsequent Event
Proceeds from unsecured senior notes, net of discount									$ 497,210,000	$ 0	$ 0
Deferred financing costs, net									36,421,000	38,026,000
Secured debt									1,961,511,000	1,977,308,000
Net proceeds received from sales of single-family properties and other									$ 106,157,000	$ 87,063,000	88,590,000
Series D Perpetual Preferred Shares/Units
Subsequent Event
Preferred Shares dividend rate								6.50%	6.50%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares									$ 1.63	$ 1.63
Series E Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate								6.35%	6.35%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares									$ 1.59	1.59
Series F Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate							5.875%		5.875%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares									$ 1.47	1.01
Series G Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate						5.875%			5.875%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares									$ 1.47	$ 0.67
Series H Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate					6.25%				6.25%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares									$ 0.44
Credit facility
Subsequent Event
Deferred financing costs, net									$ 6,900,000	$ 8,800,000
Payments on credit facility									295,000,000	112,000,000	951,000,000
Revolving credit facility outstanding balance									250,000,000	140,000,000
Term loan facility, net
Subsequent Event
Payments on credit facility									100,000,000	100,000,000	$ 0
Revolving credit facility outstanding balance									$ 99,232,000	198,023,000
Exchangeable senior notes | 4.25% Senior Notes Due 2028
Subsequent Event
Debt instrument, face amount			$ 500,000,000
Interest rate			4.25%						4.25%
Proceeds from unsecured senior notes, net of discount			$ 494,000,000
Underwriting fees			3,200,000
Unamortized discount on debt			2,800,000
Deferred financing costs, net			$ 1,900,000
Line of Credit | Term loan facility, net
Subsequent Event
Deferred financing costs, net									$ 800,000	$ 2,000,000
Payments on credit facility									$ 100,000,000
Subsequent Events
Subsequent Event
Number of properties acquired | property				154
Aggregate purchase price of properties acquired				$ 37,900,000
Number of internally developed properties developed | property				25
Number of properties sold | property				61
Net proceeds received from sales of single-family properties and other				$ 11,000,000
Subsequent Events | Class A common shares/units
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.05
Subsequent Events | Class B common shares
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	0.05
Subsequent Events | Series D Perpetual Preferred Shares/Units
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.41
Preferred Shares dividend rate	6.50%
Subsequent Events | Series E Perpetual Preferred Stock
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.40
Preferred Shares dividend rate	6.35%
Subsequent Events | Series F Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate	5.875%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares	$ 0.37
Subsequent Events | Series G Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate	5.875%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares	$ 0.37
Subsequent Events | Series H Perpetual Preferred Stock
Subsequent Event
Preferred Shares dividend rate	6.25%
Preferred stock, dividends per share, declared (in dollars per share) | $ / shares	$ 0.39
Subsequent Events | Exchangeable senior notes | 4.25% Senior Notes Due 2028
Subsequent Event
Debt instrument, face amount		$ 400,000,000
Interest rate		4.90%
Proceeds from unsecured senior notes, net of discount		$ 395,300,000
Underwriting fees		2,600,000
Unamortized discount on debt		2,100,000
Deferred financing costs, net		$ 1,000,000
Early redemption, percent of principal		100.00%
Subsequent Events | Line of Credit | Credit facility
Subsequent Event
Payments on credit facility				250,000,000
Revolving credit facility outstanding balance				0
Subsequent Events | Secured Debt | Term loan facility, net
Subsequent Event
Secured debt				$ 100,000,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)single_family_property	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	52,783
Gross Book Value of Encumbered Assets	$ 3,041,979
Initial Cost to Company, Land	1,773,914
Initial Cost to Company, Buildings and Improvements	6,727,260
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,015,065
Total Cost, Land	1,773,914
Total Cost, Buildings and Improvements	7,742,325
Total	9,516,239	$ 9,004,704	$ 8,214,566	$ 6,705,982
Accumulated Depreciation	(1,176,500)	$ (939,724)	$ (666,710)	$ (416,044)
Net Cost Basis	8,339,739
Aggregate cost of consolidated real estate for federal income tax purposes	$ 9,600,000
Albuquerque
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	212
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	6,485
Initial Cost to Company, Buildings and Improvements	24,070
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,719
Total Cost, Land	6,485
Total Cost, Buildings and Improvements	27,789
Total	34,274
Accumulated Depreciation	(5,725)
Net Cost Basis	$ 28,549
Atlanta
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	4,827
Gross Book Value of Encumbered Assets	$ 186,575
Initial Cost to Company, Land	150,521
Initial Cost to Company, Buildings and Improvements	587,913
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	105,705
Total Cost, Land	150,521
Total Cost, Buildings and Improvements	693,618
Total	844,139
Accumulated Depreciation	(92,257)
Net Cost Basis	$ 751,882
Augusta
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	228
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	6,471
Initial Cost to Company, Buildings and Improvements	26,122
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	4,228
Total Cost, Land	6,471
Total Cost, Buildings and Improvements	30,350
Total	36,821
Accumulated Depreciation	(4,048)
Net Cost Basis	$ 32,773
Austin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	866
Gross Book Value of Encumbered Assets	$ 34,959
Initial Cost to Company, Land	29,050
Initial Cost to Company, Buildings and Improvements	113,686
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	16,273
Total Cost, Land	29,050
Total Cost, Buildings and Improvements	129,959
Total	159,009
Accumulated Depreciation	(17,007)
Net Cost Basis	$ 142,002
Bay Area
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	117
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	8,140
Initial Cost to Company, Buildings and Improvements	22,809
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,181
Total Cost, Land	8,140
Total Cost, Buildings and Improvements	24,990
Total	33,130
Accumulated Depreciation	(4,372)
Net Cost Basis	$ 28,758
Boise
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	438
Gross Book Value of Encumbered Assets	$ 7,645
Initial Cost to Company, Land	15,986
Initial Cost to Company, Buildings and Improvements	53,793
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,220
Total Cost, Land	15,986
Total Cost, Buildings and Improvements	60,013
Total	75,999
Accumulated Depreciation	(6,756)
Net Cost Basis	$ 69,243
Central Valley
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	147
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	5,554
Initial Cost to Company, Buildings and Improvements	18,068
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,394
Total Cost, Land	5,554
Total Cost, Buildings and Improvements	20,462
Total	26,016
Accumulated Depreciation	(3,587)
Net Cost Basis	$ 22,429
Charleston
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,014
Gross Book Value of Encumbered Assets	$ 81,793
Initial Cost to Company, Land	37,079
Initial Cost to Company, Buildings and Improvements	137,516
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19,563
Total Cost, Land	37,079
Total Cost, Buildings and Improvements	157,079
Total	194,158
Accumulated Depreciation	(20,659)
Net Cost Basis	$ 173,499
Charlotte
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	3,608
Gross Book Value of Encumbered Assets	$ 282,017
Initial Cost to Company, Land	132,926
Initial Cost to Company, Buildings and Improvements	491,815
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	56,702
Total Cost, Land	132,926
Total Cost, Buildings and Improvements	548,517
Total	681,443
Accumulated Depreciation	(70,200)
Net Cost Basis	$ 611,243
Cincinnati
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,993
Gross Book Value of Encumbered Assets	$ 232,960
Initial Cost to Company, Land	61,824
Initial Cost to Company, Buildings and Improvements	243,959
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	39,488
Total Cost, Land	61,824
Total Cost, Buildings and Improvements	283,447
Total	345,271
Accumulated Depreciation	(53,373)
Net Cost Basis	$ 291,898
Colorado Springs
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	22
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	903
Initial Cost to Company, Buildings and Improvements	2,932
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	702
Total Cost, Land	903
Total Cost, Buildings and Improvements	3,634
Total	4,537
Accumulated Depreciation	(761)
Net Cost Basis	$ 3,776
Columbia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	43
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	1,004
Initial Cost to Company, Buildings and Improvements	5,600
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	690
Total Cost, Land	1,004
Total Cost, Buildings and Improvements	6,290
Total	7,294
Accumulated Depreciation	(1,082)
Net Cost Basis	$ 6,212
Columbus
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,016
Gross Book Value of Encumbered Assets	$ 139,446
Initial Cost to Company, Land	57,914
Initial Cost to Company, Buildings and Improvements	240,061
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	42,741
Total Cost, Land	57,914
Total Cost, Buildings and Improvements	282,802
Total	340,716
Accumulated Depreciation	(40,664)
Net Cost Basis	$ 300,052
Corpus Christi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	220
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	1,857
Initial Cost to Company, Buildings and Improvements	33,478
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,362
Total Cost, Land	1,857
Total Cost, Buildings and Improvements	36,840
Total	38,697
Accumulated Depreciation	(2,419)
Net Cost Basis	$ 36,278
Dallas-Fort Worth
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	4,406
Gross Book Value of Encumbered Assets	$ 284,099
Initial Cost to Company, Land	113,431
Initial Cost to Company, Buildings and Improvements	520,446
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	88,809
Total Cost, Land	113,431
Total Cost, Buildings and Improvements	609,255
Total	722,686
Accumulated Depreciation	(101,826)
Net Cost Basis	$ 620,860
Denver
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	787
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	42,121
Initial Cost to Company, Buildings and Improvements	165,369
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	20,293
Total Cost, Land	42,121
Total Cost, Buildings and Improvements	185,662
Total	227,783
Accumulated Depreciation	(26,237)
Net Cost Basis	$ 201,546
Fort Myers
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	6
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	172
Initial Cost to Company, Buildings and Improvements	817
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	144
Total Cost, Land	172
Total Cost, Buildings and Improvements	961
Total	1,133
Accumulated Depreciation	(152)
Net Cost Basis	$ 981
Greater Chicago area, IL and IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,046
Gross Book Value of Encumbered Assets	$ 182,493
Initial Cost to Company, Land	62,619
Initial Cost to Company, Buildings and Improvements	248,970
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	54,119
Total Cost, Land	62,619
Total Cost, Buildings and Improvements	303,089
Total	365,708
Accumulated Depreciation	(60,011)
Net Cost Basis	$ 305,697
Greensboro
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	706
Gross Book Value of Encumbered Assets	$ 52,672
Initial Cost to Company, Land	20,156
Initial Cost to Company, Buildings and Improvements	90,715
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10,550
Total Cost, Land	20,156
Total Cost, Buildings and Improvements	101,265
Total	121,421
Accumulated Depreciation	(16,105)
Net Cost Basis	$ 105,316
Greenville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	677
Gross Book Value of Encumbered Assets	$ 71,810
Initial Cost to Company, Land	16,915
Initial Cost to Company, Buildings and Improvements	88,510
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	11,617
Total Cost, Land	16,915
Total Cost, Buildings and Improvements	100,127
Total	117,042
Accumulated Depreciation	(17,492)
Net Cost Basis	$ 99,550
Houston
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	3,156
Gross Book Value of Encumbered Assets	$ 169,122
Initial Cost to Company, Land	65,607
Initial Cost to Company, Buildings and Improvements	381,138
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	66,681
Total Cost, Land	65,607
Total Cost, Buildings and Improvements	447,819
Total	513,426
Accumulated Depreciation	(71,348)
Net Cost Basis	$ 442,078
Indianapolis
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,890
Gross Book Value of Encumbered Assets	$ 292,927
Initial Cost to Company, Land	76,727
Initial Cost to Company, Buildings and Improvements	306,062
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	55,718
Total Cost, Land	76,727
Total Cost, Buildings and Improvements	361,780
Total	438,507
Accumulated Depreciation	(72,961)
Net Cost Basis	$ 365,546
Inland Empire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	331
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	31,054
Initial Cost to Company, Buildings and Improvements	41,654
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,602
Total Cost, Land	31,054
Total Cost, Buildings and Improvements	47,256
Total	78,310
Accumulated Depreciation	(5,479)
Net Cost Basis	$ 72,831
Jacksonville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,147
Gross Book Value of Encumbered Assets	$ 60,297
Initial Cost to Company, Land	64,202
Initial Cost to Company, Buildings and Improvements	256,607
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	45,478
Total Cost, Land	64,202
Total Cost, Buildings and Improvements	302,085
Total	366,287
Accumulated Depreciation	(43,748)
Net Cost Basis	$ 322,539
Knoxville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	401
Gross Book Value of Encumbered Assets	$ 17,169
Initial Cost to Company, Land	13,196
Initial Cost to Company, Buildings and Improvements	63,292
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,923
Total Cost, Land	13,196
Total Cost, Buildings and Improvements	69,215
Total	82,411
Accumulated Depreciation	(10,656)
Net Cost Basis	$ 71,755
Las Vegas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,022
Gross Book Value of Encumbered Assets	$ 21,722
Initial Cost to Company, Land	30,749
Initial Cost to Company, Buildings and Improvements	127,381
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	21,022
Total Cost, Land	30,749
Total Cost, Buildings and Improvements	148,403
Total	179,152
Accumulated Depreciation	(29,233)
Net Cost Basis	$ 149,919
Memphis
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	674
Gross Book Value of Encumbered Assets	$ 16,853
Initial Cost to Company, Land	21,378
Initial Cost to Company, Buildings and Improvements	76,791
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	12,798
Total Cost, Land	21,378
Total Cost, Buildings and Improvements	89,589
Total	110,967
Accumulated Depreciation	(13,028)
Net Cost Basis	$ 97,939
Miami
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	218
Gross Book Value of Encumbered Assets	$ 3,553
Initial Cost to Company, Land	3,337
Initial Cost to Company, Buildings and Improvements	26,238
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,678
Total Cost, Land	3,337
Total Cost, Buildings and Improvements	31,916
Total	35,253
Accumulated Depreciation	(5,833)
Net Cost Basis	$ 29,420
Milwaukee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	124
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	7,286
Initial Cost to Company, Buildings and Improvements	21,617
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,278
Total Cost, Land	7,286
Total Cost, Buildings and Improvements	23,895
Total	31,181
Accumulated Depreciation	(4,935)
Net Cost Basis	$ 26,246
Nashville
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,686
Gross Book Value of Encumbered Assets	$ 181,534
Initial Cost to Company, Land	105,177
Initial Cost to Company, Buildings and Improvements	404,763
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	46,425
Total Cost, Land	105,177
Total Cost, Buildings and Improvements	451,188
Total	556,365
Accumulated Depreciation	(63,577)
Net Cost Basis	$ 492,788
Oklahoma City
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	370
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	9,928
Initial Cost to Company, Buildings and Improvements	51,381
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,884
Total Cost, Land	9,928
Total Cost, Buildings and Improvements	58,265
Total	68,193
Accumulated Depreciation	(8,112)
Net Cost Basis	$ 60,081
Orlando
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,705
Gross Book Value of Encumbered Assets	$ 46,044
Initial Cost to Company, Land	61,248
Initial Cost to Company, Buildings and Improvements	207,515
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	32,916
Total Cost, Land	61,248
Total Cost, Buildings and Improvements	240,431
Total	301,679
Accumulated Depreciation	(36,222)
Net Cost Basis	$ 265,457
Phoenix
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	3,086
Gross Book Value of Encumbered Assets	$ 55,457
Initial Cost to Company, Land	132,322
Initial Cost to Company, Buildings and Improvements	349,070
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	48,106
Total Cost, Land	132,322
Total Cost, Buildings and Improvements	397,176
Total	529,498
Accumulated Depreciation	(54,146)
Net Cost Basis	$ 475,352
Portland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	261
Gross Book Value of Encumbered Assets	$ 24,290
Initial Cost to Company, Land	19,099
Initial Cost to Company, Buildings and Improvements	37,317
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,661
Total Cost, Land	19,099
Total Cost, Buildings and Improvements	39,978
Total	59,077
Accumulated Depreciation	(5,301)
Net Cost Basis	$ 53,776
Raleigh
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,058
Gross Book Value of Encumbered Assets	$ 211,240
Initial Cost to Company, Land	70,455
Initial Cost to Company, Buildings and Improvements	272,134
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	32,192
Total Cost, Land	70,455
Total Cost, Buildings and Improvements	304,326
Total	374,781
Accumulated Depreciation	(46,971)
Net Cost Basis	$ 327,810
Salt Lake City
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,338
Gross Book Value of Encumbered Assets	$ 156,579
Initial Cost to Company, Land	79,857
Initial Cost to Company, Buildings and Improvements	208,170
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	31,465
Total Cost, Land	79,857
Total Cost, Buildings and Improvements	239,635
Total	319,492
Accumulated Depreciation	(35,270)
Net Cost Basis	$ 284,222
San Antonio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	1,038
Gross Book Value of Encumbered Assets	$ 58,804
Initial Cost to Company, Land	31,498
Initial Cost to Company, Buildings and Improvements	113,695
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19,910
Total Cost, Land	31,498
Total Cost, Buildings and Improvements	133,605
Total	165,103
Accumulated Depreciation	(21,915)
Net Cost Basis	$ 143,188
Savannah/Hilton Head
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	842
Gross Book Value of Encumbered Assets	$ 41,692
Initial Cost to Company, Land	27,265
Initial Cost to Company, Buildings and Improvements	108,093
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	13,246
Total Cost, Land	27,265
Total Cost, Buildings and Improvements	121,339
Total	148,604
Accumulated Depreciation	(13,213)
Net Cost Basis	$ 135,391
Seattle
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	690
Gross Book Value of Encumbered Assets	$ 28,068
Initial Cost to Company, Land	45,947
Initial Cost to Company, Buildings and Improvements	126,046
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	9,881
Total Cost, Land	45,947
Total Cost, Buildings and Improvements	135,927
Total	181,874
Accumulated Depreciation	(12,513)
Net Cost Basis	$ 169,361
Tampa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	2,170
Gross Book Value of Encumbered Assets	$ 45,624
Initial Cost to Company, Land	79,686
Initial Cost to Company, Buildings and Improvements	298,996
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	42,697
Total Cost, Land	79,686
Total Cost, Buildings and Improvements	341,693
Total	421,379
Accumulated Depreciation	(51,324)
Net Cost Basis	$ 370,055
Tucson
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	380
Gross Book Value of Encumbered Assets	$ 11,854
Initial Cost to Company, Land	7,533
Initial Cost to Company, Buildings and Improvements	36,677
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	7,651
Total Cost, Land	7,533
Total Cost, Buildings and Improvements	44,328
Total	51,861
Accumulated Depreciation	(10,082)
Net Cost Basis	$ 41,779
Winston Salem
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | single_family_property	817
Gross Book Value of Encumbered Assets	$ 42,681
Initial Cost to Company, Land	19,235
Initial Cost to Company, Buildings and Improvements	95,974
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10,353
Total Cost, Land	19,235
Total Cost, Buildings and Improvements	106,327
Total	125,562
Accumulated Depreciation	(15,900)
Net Cost Basis	$ 109,662

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in total real estate assets
Balance, beginning of period	$ 9,004,704	$ 8,214,566	$ 6,705,982
Acquisitions and building improvements	628,118	870,350	1,597,392
Dispositions	(101,153)	(68,759)	(77,916)
Write-offs	(9,572)	(6,773)	(5,922)
Impairment	(5,858)	(4,680)	(4,970)
Balance, end of period	$ 9,516,239	$ 9,004,704	$ 8,214,566

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in accumulated depreciation
Balance, beginning of period	$ (939,724)	$ (666,710)	$ (416,044)
Depreciation	(258,086)	(281,747)	(260,154)
Dispositions	11,738	1,960	3,566
Write-offs	9,572	6,773	5,922
Balance, end of period	$ (1,176,500)	$ (939,724)	$ (666,710)
Building and Building Improvements | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life of asset	3 years
Building and Building Improvements | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life of asset	30 years