American Homes 4 Rent (AMH) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36013
Entity Registrant Name	AMERICAN HOMES 4 RENT
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-1229660
Entity Address, Address Line One	280 Pilot Road
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89119
City Area Code	702
Local Phone Number	847-7800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001562401
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A common shares
Document Information
Title of 12(b) Security	Class A common shares of beneficial interest, $.01 par value
Trading Symbol	AMH
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		352,809,460
Series G perpetual preferred shares
Document Information
Title of 12(b) Security	Series G perpetual preferred shares of beneficial interest, $.01 par value
Trading Symbol	AMH-G
Security Exchange Name	NYSE
Series H perpetual preferred shares
Document Information
Title of 12(b) Security	Series H perpetual preferred shares of beneficial interest, $.01 par value
Trading Symbol	AMH-H
Security Exchange Name	NYSE
Class B common shares
Document Information
Entity Common Stock, Shares Outstanding		635,075
American Homes 4 Rent, L.P.
Document Information
Entity File Number	333-221878-02
Entity Registrant Name	AMERICAN HOMES 4 RENT, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0860173
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001716558

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Single-family properties:
Land	$ 2,190,724	$ 2,062,039
Buildings and improvements	10,024,700	9,258,387
Single-family properties in operation	12,215,424	11,320,426
Less: accumulated depreciation	(2,310,014)	(2,072,933)
Single-family properties in operation, net	9,905,410	9,247,493
Single-family properties under development and development land	1,123,183	882,159
Single-family properties held for sale, net	189,991	114,907
Total real estate assets, net	11,218,584	10,244,559
Cash and cash equivalents	97,244	48,198
Restricted cash	160,476	143,569
Rent and other receivables	50,395	41,587
Escrow deposits, prepaid expenses and other assets	315,789	216,625
Investments in unconsolidated joint ventures	110,409	121,950
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	12,098,842	10,962,433
Liabilities
Revolving credit facility	0	350,000
Asset-backed securitizations, net	1,895,269	1,908,346
Unsecured senior notes, net	2,493,898	1,622,132
Accounts payable and accrued expenses	567,240	343,526
Total liabilities	4,956,407	4,224,004
Commitments and contingencies (see Note 15)
Shareholders’ equity:
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 9,200,000 and 15,400,000 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively)	92	154
Additional paid-in capital	6,926,629	6,492,933
Accumulated deficit	(464,444)	(438,710)
Accumulated other comprehensive income	1,455	1,814
Total shareholders’ equity	6,467,266	6,059,571
Noncontrolling interest	675,169	678,858
Total equity	7,142,435	6,738,429
Total liabilities and equity	12,098,842	10,962,433
Class A common shares
Shareholders’ equity:
Common stock issued	3,528	3,374
Class B common shares
Shareholders’ equity:
Common stock issued	$ 6	$ 6

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	9,200,000	15,400,000
Preferred shares outstanding (in shares)	9,200,000	15,400,000
Class A common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares authorized (in shares)	450,000,000	450,000,000
Common stock issued (in shares)	352,809,460	337,362,716
Common stock outstanding (in shares)	352,809,460	337,362,716
Class B common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares authorized (in shares)	50,000,000	50,000,000
Common stock issued (in shares)	635,075	635,075
Common stock outstanding (in shares)	635,075	635,075

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Rents and other single-family property revenues	$ 391,627			$ 339,563			$ 1,109,608	$ 965,790
Expenses:
General and administrative expense	16,986			12,647			53,115	40,645
Interest expense	36,254			31,097			98,622	86,630
Acquisition and other transaction costs	4,482			3,279			18,114	11,093
Depreciation and amortization	109,319			94,494			313,688	275,682
Hurricane-related charges, net	6,133			0			6,133	0
Total expenses	354,978			300,773			989,191	854,693
Gain on sale and impairment of single-family properties and other, net	24,197			9,572			79,052	36,401
Other income and expense, net	819			139			6,765	1,738
Net income	61,665	$ 74,555	$ 70,014	48,501	$ 51,814	$ 48,921	206,234	149,236
Noncontrolling interest	7,464			5,869			24,119	14,012
Dividends on preferred shares	3,486	$ 4,346	$ 5,763	5,763	$ 12,615	$ 13,782	13,595	32,160
Redemption of perpetual preferred shares	0			0			5,276	15,879
Net income attributable to common shareholders	$ 50,715			$ 36,869			$ 163,244	$ 87,185
Weighted-average common shares outstanding:
Basic (in shares)	348,944,055			324,002,538			347,730,579	320,267,903
Diluted (in shares)	349,344,541			326,206,423			348,282,995	321,879,235
Net income attributable to common shareholders per share:
Basic (in dollars per share)	$ 0.14			$ 0.11			$ 0.47	$ 0.27
Diluted (in dollars per share)	$ 0.14			$ 0.11			$ 0.47	$ 0.27
Property operating expenses
Expenses:
Cost of goods and services sold	$ 152,065			$ 134,694			$ 414,978	$ 369,966
Property management expenses
Expenses:
Cost of goods and services sold	$ 29,739			$ 24,562			$ 84,541	$ 70,677

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 61,665	$ 48,501	$ 206,234	$ 149,236
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	0	0	(3,999)
Reclassification adjustment for amortization of interest expense included in net income	(141)	(149)	(423)	(630)
Other comprehensive loss	(141)	(149)	(423)	(4,629)
Comprehensive income	61,524	48,352	205,811	144,607
Comprehensive income attributable to noncontrolling interests	7,443	5,778	24,055	13,297
Dividends on preferred shares	3,486	5,763	13,595	32,160
Redemption of perpetual preferred shares	0	0	5,276	15,879
Comprehensive income attributable to common shareholders	$ 50,595	$ 36,811	$ 162,885	$ 83,271

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A common shares	Series D perpetual preferred shares	Series E perpetual preferred shares	Series F perpetual preferred shares	Shareholders’ equity	Shareholders’ equity Class A common shares	Shareholders’ equity Series D perpetual preferred shares	Shareholders’ equity Series E perpetual preferred shares	Shareholders’ equity Series F perpetual preferred shares	Common stock Class A common shares	Common stock Class B common shares	Preferred shares	Preferred shares Series D perpetual preferred shares	Preferred shares Series E perpetual preferred shares	Preferred shares Series F perpetual preferred shares	Additional paid-in capital	Additional paid-in capital Class A common shares	Additional paid-in capital Series D perpetual preferred shares	Additional paid-in capital Series E perpetual preferred shares	Additional paid-in capital Series F perpetual preferred shares	Accumulated deficit	Accumulated deficit Series D perpetual preferred shares	Accumulated deficit Series E perpetual preferred shares	Accumulated deficit Series F perpetual preferred shares	Accumulated other comprehensive income	Accumulated other comprehensive income Class A common shares	Noncontrolling interest	Noncontrolling interest Class A common shares
Beginning balance (in shares) at Dec. 31, 2020											316,021,385	635,075	35,350,000
Beginning balances at Dec. 31, 2020	$ 6,472,430					$ 5,789,094					$ 3,160	$ 6	$ 354				$ 6,223,256					$ (443,522)				$ 5,840		$ 683,336
Increase (Decrease) in Stockholders' Equity
Share-based compensation	8,110					8,110											8,110
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											246,425
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	(1,521)					(1,521)					$ 2						(1,523)
Redemptions of shares (in shares)											(350,000)
Redemptions of shares		$ 0					$ 4,624				$ 4							$ 4,613									$ 7		$ (4,624)
Distributions to equity holders:
Preferred shares	(13,782)					(13,782)																(13,782)
Noncontrolling interests	(5,172)																											(5,172)
Common shares	(31,795)					(31,795)																(31,795)
Net income	48,921					43,996																43,996						4,925
Total other comprehensive income (loss)	8,989					7,729																				7,729		1,260
Ending balance (in shares) at Mar. 31, 2021											316,617,810	635,075	35,350,000
Ending balances at Mar. 31, 2021	6,486,180					5,806,455					$ 3,166	$ 6	$ 354				6,234,456					(445,103)				13,576		679,725
Beginning balance (in shares) at Dec. 31, 2020											316,021,385	635,075	35,350,000
Beginning balances at Dec. 31, 2020	6,472,430					5,789,094					$ 3,160	$ 6	$ 354				6,223,256					(443,522)				5,840		683,336
Distributions to equity holders:
Preferred shares	(32,160)
Net income	149,236
Total other comprehensive income (loss)	(4,629)
Ending balance (in shares) at Sep. 30, 2021											333,760,558	635,075	15,400,000
Ending balances at Sep. 30, 2021	6,582,655					5,906,093					$ 3,338	$ 6	$ 154				6,353,611					(452,949)				1,933		676,562
Beginning balance (in shares) at Mar. 31, 2021											316,617,810	635,075	35,350,000
Beginning balances at Mar. 31, 2021	6,486,180					5,806,455					$ 3,166	$ 6	$ 354				6,234,456					(445,103)				13,576		679,725
Increase (Decrease) in Stockholders' Equity
Share-based compensation	3,151					3,151											3,151
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											90,373
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	895					895					$ 1						894
Issuance of Class A common shares, net of offering costs (in shares)											5,500,000
Issuance of Class A common shares, net of offering costs		193,840					193,840				$ 55							193,785
Redemptions of shares (in shares)														(10,750,000)	(9,200,000)
Redemptions of shares			$ (268,750)	$ (230,000)				$ (268,750)	$ (230,000)					$ (108)	$ (92)				$ (260,133)	$ (222,538)			$ (8,509)	$ (7,370)
Distributions to equity holders:
Preferred shares	(12,615)					(12,615)																(12,615)
Noncontrolling interests	(5,138)																											(5,138)
Common shares	(32,403)					(32,403)																(32,403)
Net income	51,814					48,596																48,596						3,218
Total other comprehensive income (loss)	(13,469)					(11,585)																				(11,585)		(1,884)
Ending balance (in shares) at Jun. 30, 2021											322,208,183	635,075	15,400,000
Ending balances at Jun. 30, 2021	6,173,505					5,497,584					$ 3,222	$ 6	$ 154				5,949,615					(457,404)				1,991		675,921
Increase (Decrease) in Stockholders' Equity
Share-based compensation	3,058					3,058											3,058
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											152,375
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	2,054					2,054					$ 2						2,052
Issuance of Class A common shares, net of offering costs (in shares)											11,400,000
Issuance of Class A common shares, net of offering costs		399,000					399,000				$ 114							398,886
Distributions to equity holders:
Preferred shares	(5,763)					(5,763)																(5,763)
Noncontrolling interests	(5,137)																											(5,137)
Common shares	(32,414)					(32,414)																(32,414)
Net income	48,501					42,632																42,632						5,869
Total other comprehensive income (loss)	(149)					(58)																				(58)		(91)
Ending balance (in shares) at Sep. 30, 2021											333,760,558	635,075	15,400,000
Ending balances at Sep. 30, 2021	6,582,655					5,906,093					$ 3,338	$ 6	$ 154				6,353,611					(452,949)				1,933		676,562
Beginning balance (in shares) at Dec. 31, 2021											337,362,716	635,075	15,400,000
Beginning balances at Dec. 31, 2021	6,738,429					6,059,571					$ 3,374	$ 6	$ 154				6,492,933					(438,710)				1,814		678,858
Increase (Decrease) in Stockholders' Equity
Share-based compensation	7,405					7,405											7,405
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											280,172
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	(2,619)					(2,619)					$ 2						(2,621)
Issuance of Class A common shares, net of offering costs (in shares)											10,000,000
Issuance of Class A common shares, net of offering costs		375,640					375,640				$ 100							375,540
Distributions to equity holders:
Preferred shares	(5,763)					(5,763)																(5,763)
Noncontrolling interests	(9,248)																											(9,248)
Common shares	(62,938)					(62,938)																(62,938)
Net income	70,014					61,702																61,702						8,312
Total other comprehensive income (loss)	(141)					(116)																				(116)		(25)
Ending balance (in shares) at Mar. 31, 2022											347,642,888	635,075	15,400,000
Ending balances at Mar. 31, 2022	7,110,779					6,432,882					$ 3,476	$ 6	$ 154				6,873,257					(445,709)				1,698		677,897
Beginning balance (in shares) at Dec. 31, 2021											337,362,716	635,075	15,400,000
Beginning balances at Dec. 31, 2021	6,738,429					6,059,571					$ 3,374	$ 6	$ 154				6,492,933					(438,710)				1,814		678,858
Distributions to equity holders:
Preferred shares	(13,595)
Net income	206,234
Total other comprehensive income (loss)	(423)
Ending balance (in shares) at Sep. 30, 2022											352,809,460	635,075	9,200,000
Ending balances at Sep. 30, 2022	7,142,435					6,467,266					$ 3,528	$ 6	$ 92				6,926,629					(464,444)				1,455		675,169
Beginning balance (in shares) at Mar. 31, 2022											347,642,888	635,075	15,400,000
Beginning balances at Mar. 31, 2022	7,110,779					6,432,882					$ 3,476	$ 6	$ 154				6,873,257					(445,709)				1,698		677,897
Increase (Decrease) in Stockholders' Equity
Share-based compensation	10,643					10,643											10,643
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											53,606
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	55					55					$ 1						54
Redemptions of shares (in shares)																(6,200,000)
Redemptions of shares					$ (155,000)					$ (155,000)						$ (62)					$ (149,662)				$ (5,276)
Distributions to equity holders:
Preferred shares	(4,346)					(4,346)																(4,346)
Noncontrolling interests	(9,248)																											(9,248)
Common shares	(63,036)					(63,036)																(63,036)
Net income	74,555					66,212																66,212						8,343
Total other comprehensive income (loss)	(141)					(123)																				(123)		(18)
Ending balance (in shares) at Jun. 30, 2022											347,696,494	635,075	9,200,000
Ending balances at Jun. 30, 2022	6,964,261					6,287,287					$ 3,477	$ 6	$ 92				6,734,292					(452,155)				1,575		676,974
Increase (Decrease) in Stockholders' Equity
Share-based compensation	5,680					5,680											5,680
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											112,966
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	1,076					1,076					$ 1						1,075
Issuance of Class A common shares, net of offering costs (in shares)											5,000,000
Issuance of Class A common shares, net of offering costs		$ 185,632					$ 185,632				$ 50							$ 185,582
Distributions to equity holders:
Preferred shares	(3,486)					(3,486)																(3,486)
Noncontrolling interests	(9,248)																											(9,248)
Common shares	(63,004)					(63,004)																(63,004)
Net income	61,665					54,201																54,201						7,464
Total other comprehensive income (loss)	(141)					(120)																				(120)		(21)
Ending balance (in shares) at Sep. 30, 2022											352,809,460	635,075	9,200,000
Ending balances at Sep. 30, 2022	$ 7,142,435					$ 6,467,266					$ 3,528	$ 6	$ 92				$ 6,926,629					$ (464,444)				$ 1,455		$ 675,169

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - Common stock - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Common share, dividends (in dollars per share)	$ 0.18	$ 0.18	$ 0.18	$ 0.10	$ 0.10	$ 0.10
Stock issuance cost			$ 200		$ 200

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 206,234	$ 149,236
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	313,688	275,682
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,588	6,290
Noncash share-based compensation	23,728	14,319
Equity in net income of unconsolidated joint ventures	(3,135)	(875)
Return on investment from unconsolidated joint ventures	4,777	0
Gain on sale and impairment of single-family properties and other, net	(79,052)	(36,401)
Other changes in operating assets and liabilities:
Rent and other receivables	(10,789)	(13,863)
Prepaid expenses and other assets	3,572	11,247
Deferred leasing costs	(1,868)	(2,672)
Accounts payable and accrued expenses	134,237	95,471
Amounts due from related parties	(3,192)	(241)
Net cash provided by operating activities	596,788	498,193
Investing activities
Cash paid for single-family properties	(582,442)	(633,794)
Change in escrow deposits for purchase of single-family properties	8,492	(26,818)
Net proceeds received from sales of single-family properties and other	163,295	101,411
Proceeds received from storm-related insurance claims	1,981	1,993
Proceeds from notes receivable related to the sale of properties	34,014	0
Investment in unconsolidated joint ventures	(17,308)	(20,742)
Distributions from joint ventures	58,160	46,927
Renovations to single-family properties	(80,612)	(28,234)
Recurring and other capital expenditures for single-family properties	(98,763)	(90,413)
Cash paid for development activity	(707,764)	(524,884)
Cash paid for deposits on land option contracts	(10,686)	0
Other investing activities	(36,021)	(16,907)
Net cash used for investing activities	(1,267,654)	(1,191,461)
Financing activities
Redemption of perpetual preferred shares	(155,000)	(498,750)
Proceeds from issuances under share-based compensation plans	3,323	4,094
Payments related to tax withholding for share-based compensation	(4,811)	(2,666)
Payments on asset-backed securitizations	(16,884)	(18,061)
Proceeds from unsecured senior notes, net of discount	876,813	737,195
Settlement of cash flow hedging instrument	0	(3,999)
Proceeds from liabilities related to consolidated land not owned	60,217	0
Distributions to noncontrolling interests	(27,612)	(18,033)
Distributions to common shareholders	(188,689)	(112,278)
Distributions to preferred shareholders	(13,595)	(32,160)
Deferred financing costs paid	(8,215)	(17,997)
Net cash provided by financing activities	736,819	630,185
Net increase (decrease) in cash, cash equivalents and restricted cash	65,953	(63,083)
Cash, cash equivalents and restricted cash, beginning of period (see Note 3)	191,767	265,077
Cash, cash equivalents and restricted cash, end of period (see Note 3)	257,720	201,994
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(89,400)	(85,472)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	65,586	37,877
Transfers of completed homebuilding deliveries to properties	335,684	252,218
Property and land contributions to unconsolidated joint ventures	(35,849)	(43,814)
Property and land distributions from unconsolidated joint ventures	8,397	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	3,885	989
Accrued distributions to affiliates	337	0
Accrued distributions to non-affiliates	114	166
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	490,000	1,060,000
Payments on revolving credit facility	(840,000)	(1,060,000)
Class A common shares
Financing activities
Proceeds from issuance of Class A common shares	561,472	593,040
Payments of Class A common share issuance costs	$ (200)	$ (200)

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (L.P.) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Single-family properties:
Land	$ 2,190,724	$ 2,062,039
Buildings and improvements	10,024,700	9,258,387
Single-family properties in operation	12,215,424	11,320,426
Less: accumulated depreciation	(2,310,014)	(2,072,933)
Single-family properties in operation, net	9,905,410	9,247,493
Single-family properties under development and development land	1,123,183	882,159
Single-family properties held for sale, net	189,991	114,907
Total real estate assets, net	11,218,584	10,244,559
Cash and cash equivalents	97,244	48,198
Restricted cash	160,476	143,569
Rent and other receivables	50,395	41,587
Escrow deposits, prepaid expenses and other assets	315,789	216,625
Investments in unconsolidated joint ventures	110,409	121,950
Goodwill	120,279	120,279
Total assets	12,098,842	10,962,433
Liabilities
Revolving credit facility	0	350,000
Asset-backed securitizations, net	1,895,269	1,908,346
Unsecured senior notes, net	2,493,898	1,622,132
Accounts payable and accrued expenses	567,240	343,526
Total liabilities	4,956,407	4,224,004
Commitments and contingencies (see Note 15)
Limited partner:
Accumulated other comprehensive income	1,455	1,814
Total liabilities and equity	12,098,842	10,962,433
American Homes 4 Rent, L.P.
Single-family properties:
Land	2,190,724	2,062,039
Buildings and improvements	10,024,700	9,258,387
Single-family properties in operation	12,215,424	11,320,426
Less: accumulated depreciation	(2,310,014)	(2,072,933)
Single-family properties in operation, net	9,905,410	9,247,493
Single-family properties under development and development land	1,123,183	882,159
Single-family properties held for sale, net	189,991	114,907
Total real estate assets, net	11,218,584	10,244,559
Cash and cash equivalents	97,244	48,198
Restricted cash	160,476	143,569
Rent and other receivables	50,395	41,587
Escrow deposits, prepaid expenses and other assets	315,789	216,625
Investments in unconsolidated joint ventures	110,409	121,950
Amounts due from affiliates	25,666	25,666
Goodwill	120,279	120,279
Total assets	12,098,842	10,962,433
Liabilities
Revolving credit facility	0	350,000
Asset-backed securitizations, net	1,895,269	1,908,346
Unsecured senior notes, net	2,493,898	1,622,132
Accounts payable and accrued expenses	567,240	343,526
Total liabilities	4,956,407	4,224,004
Commitments and contingencies (see Note 15)
General partner:
Common units (353,444,535 and 337,997,791 units issued and outstanding at September 30, 2022 and December 31, 2021, respectively)	6,243,971	5,686,193
Preferred units (9,200,000 and 15,400,000 units issued and outstanding at September 30, 2022 and December 31, 2021, respectively)	221,840	371,564
Limited partner:
Common units (51,376,980 units issued and outstanding at September 30, 2022 and December 31, 2021)	674,957	678,582
Accumulated other comprehensive income	1,667	2,090
Total capital	7,142,435	6,738,429
Total liabilities and equity	$ 12,098,842	$ 10,962,433

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (L.P.) (Parenthetical) - American Homes 4 Rent, L.P. - shares	Sep. 30, 2022	Dec. 31, 2021
General Partner
Common units issued (in shares)	353,444,535	337,997,791
Common units outstanding (in shares)	353,444,535	337,997,791
Preferred units outstanding (in shares)	9,200,000	15,400,000
Preferred units issued (in shares)	9,200,000	15,400,000
Limited Partners
Common units issued (in shares)	51,376,980	51,376,980
Common units outstanding (in shares)	51,376,980	51,376,980

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Operations (L.P.) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Rents and other single-family property revenues	$ 391,627	$ 339,563	$ 1,109,608	$ 965,790
Expenses:
General and administrative expense	16,986	12,647	53,115	40,645
Interest expense	36,254	31,097	98,622	86,630
Acquisition and other transaction costs	4,482	3,279	18,114	11,093
Depreciation and amortization	109,319	94,494	313,688	275,682
Hurricane-related charges, net	6,133	0	6,133	0
Total expenses	354,978	300,773	989,191	854,693
Gain on sale and impairment of single-family properties and other, net	24,197	9,572	79,052	36,401
Other income and expense, net	819	139	6,765	1,738
Net income	61,665	48,501	206,234	149,236
Preferred distributions	3,486	5,763	13,595	32,160
Redemption of perpetual preferred shares	0	0	5,276	15,879
Net income attributable to common shareholders	50,715	36,869	163,244	87,185
Property operating expenses
Expenses:
Cost of goods and services sold	152,065	134,694	414,978	369,966
Property management expenses
Expenses:
Cost of goods and services sold	29,739	24,562	84,541	70,677
American Homes 4 Rent, L.P.
Rents and other single-family property revenues	391,627	339,563	1,109,608	965,790
Expenses:
General and administrative expense	16,986	12,647	53,115	40,645
Interest expense	36,254	31,097	98,622	86,630
Acquisition and other transaction costs	4,482	3,279	18,114	11,093
Depreciation and amortization	109,319	94,494	313,688	275,682
Hurricane-related charges, net	6,133	0	6,133	0
Total expenses	354,978	300,773	989,191	854,693
Gain on sale and impairment of single-family properties and other, net	24,197	9,572	79,052	36,401
Other income and expense, net	819	139	6,765	1,738
Net income	61,665	48,501	206,234	149,236
Preferred distributions	3,486	5,763	13,595	32,160
Redemption of perpetual preferred shares	0	0	5,276	15,879
Net income attributable to common shareholders	$ 58,179	$ 42,738	$ 187,363	$ 101,197
Weighted-average common shares outstanding:
Basic (in shares)	400,321,035	375,379,518	399,107,559	371,739,755
Diluted (in shares)	400,721,521	377,583,403	399,659,975	373,351,087
Net income attributable to common unitholders per unit:
Basic (in dollars per share)	$ 0.14	$ 0.11	$ 0.47	$ 0.27
Diluted (in dollars per share)	$ 0.14	$ 0.11	$ 0.47	$ 0.27
American Homes 4 Rent, L.P. | Property operating expenses
Expenses:
Cost of goods and services sold	$ 152,065	$ 134,694	$ 414,978	$ 369,966
American Homes 4 Rent, L.P. | Property management expenses
Expenses:
Cost of goods and services sold	$ 29,739	$ 24,562	$ 84,541	$ 70,677

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Comprehensive Income (L.P.) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 61,665	$ 48,501	$ 206,234	$ 149,236
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	0	0	(3,999)
Reclassification adjustment for amortization of interest expense included in net income	(141)	(149)	(423)	(630)
Other comprehensive loss	(141)	(149)	(423)	(4,629)
Comprehensive income	61,524	48,352	205,811	144,607
Preferred distributions	3,486	5,763	13,595	32,160
Redemption of perpetual preferred shares	0	0	5,276	15,879
Comprehensive income attributable to common shareholders	50,595	36,811	162,885	83,271
American Homes 4 Rent, L.P.
Net income	61,665	48,501	206,234	149,236
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	0	0	(3,999)
Reclassification adjustment for amortization of interest expense included in net income	(141)	(149)	(423)	(630)
Other comprehensive loss	(141)	(149)	(423)	(4,629)
Comprehensive income	61,524	48,352	205,811	144,607
Preferred distributions	3,486	5,763	13,595	32,160
Redemption of perpetual preferred shares	0	0	5,276	15,879
Comprehensive income attributable to common shareholders	$ 58,038	$ 42,589	$ 186,940	$ 96,568

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Capital - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Capital [Roll Forward]
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 1,076	$ 55	$ (2,619)	$ 2,054	$ 895	$ (1,521)
Distributions to capital holders:
Net income	61,665	74,555	70,014	48,501	51,814	48,921	$ 206,234	$ 149,236
Total other comprehensive income (loss)	$ (141)	$ (141)	$ (141)	$ (149)	$ (13,469)	$ 8,989	(423)	(4,629)
Class A common shares | Common capital
Increase (Decrease) in Capital [Roll Forward]
Common units issued under share-based compensation plans, net of units withheld for employee taxes (in shares)	112,966	53,606	280,172	152,375	90,373	246,425
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 1	$ 1	$ 2	$ 2	$ 1	$ 2
American Homes 4 Rent, L.P.
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	6,964,261	7,110,779	6,738,429	6,173,505	6,486,180	6,472,430	6,738,429	6,472,430
Share-based compensation	5,680	10,643	7,405	3,058	3,151	8,110
Common units issued under share-based compensation plans, net of units withheld for employee taxes	1,076	55	(2,619)	2,054	895	(1,521)
Distributions to capital holders:
Preferred units	(3,486)	(4,346)	(5,763)	(5,763)	(12,615)	(13,782)
Common units	(72,252)	(72,284)	(72,186)	(37,551)	(37,541)	(36,967)
Net income	61,665	74,555	70,014	48,501	51,814	48,921	206,234	149,236
Total other comprehensive income (loss)	(141)	(141)	(141)	(149)	(13,469)	8,989	(423)	(4,629)
Total capital, ending balance	7,142,435	6,964,261	7,110,779	6,582,655	6,173,505	6,486,180	7,142,435	6,582,655
American Homes 4 Rent, L.P. | Class A common shares
Increase (Decrease) in Capital [Roll Forward]
Issuance of Class A common units, net of offering costs	185,632		375,640	399,000	193,840
Redemptions of units						0
American Homes 4 Rent, L.P. | Series D perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					(268,750)
American Homes 4 Rent, L.P. | Series E perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					(230,000)
American Homes 4 Rent, L.P. | Series F perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units		(155,000)
American Homes 4 Rent, L.P. | Accumulated other comprehensive income
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	1,808	1,949	2,090	2,380	15,849	6,860	2,090	6,860
Distributions to capital holders:
Total other comprehensive income (loss)	(141)	(141)	(141)	(149)	(13,469)	8,989
Total capital, ending balance	$ 1,667	$ 1,808	$ 1,949	$ 2,231	$ 2,380	$ 15,849	$ 1,667	$ 2,231
American Homes 4 Rent, L.P. | General Partner | Common capital
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance (in shares)	348,331,569	348,277,963	337,997,791	322,843,258	317,252,885	316,656,460	337,997,791	316,656,460
Total capital, beginning balance	$ 6,063,872	$ 6,059,620	$ 5,686,193	$ 5,124,029	$ 4,938,444	$ 4,928,819	$ 5,686,193	$ 4,928,819
Share-based compensation	$ 5,680	$ 10,643	$ 7,405	$ 3,058	$ 3,151	$ 8,110
Common units issued under share-based compensation plans, net of units withheld for employee taxes (in shares)	112,966	53,606	280,172	152,375	90,373	246,425
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 1,076	$ 55	$ (2,619)	$ 2,054	$ 895	$ (1,521)
Distributions to capital holders:
Common units	(63,004)	(63,036)	(62,938)	(32,414)	(32,403)	(31,795)
Net income	$ 50,715	$ 61,866	$ 55,939	$ 36,869	$ 35,981	$ 30,214
Total capital, ending balance (in shares)	353,444,535	348,331,569	348,277,963	334,395,633	322,843,258	317,252,885	353,444,535	334,395,633
Total capital, ending balance	$ 6,243,971	$ 6,063,872	$ 6,059,620	$ 5,532,596	$ 5,124,029	$ 4,938,444	$ 6,243,971	$ 5,532,596
American Homes 4 Rent, L.P. | General Partner | Common capital | Class A common shares
Increase (Decrease) in Capital [Roll Forward]
Issuance of Class A common units, net of offering costs (in shares)	5,000,000		10,000,000	11,400,000	5,500,000
Issuance of Class A common units, net of offering costs	$ 185,632		$ 375,640	$ 399,000	$ 193,840
Redemptions of units (in shares)						350,000
Redemptions of units						$ 4,617
American Homes 4 Rent, L.P. | General Partner | Common capital | Series D perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					(8,509)
American Homes 4 Rent, L.P. | General Partner | Common capital | Series E perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					(7,370)
American Homes 4 Rent, L.P. | General Partner | Common capital | Series F perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units		(5,276)
American Homes 4 Rent, L.P. | General Partner | Preferred capital amount
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance	221,840	371,564	371,564	371,564	854,435	854,435	371,564	854,435
Distributions to capital holders:
Preferred units	(3,486)	(4,346)	(5,763)	(5,763)	(12,615)	(13,782)
Net income	3,486	4,346	5,763	5,763	12,615	13,782
Total capital, ending balance	$ 221,840	221,840	$ 371,564	$ 371,564	371,564	$ 854,435	$ 221,840	$ 371,564
American Homes 4 Rent, L.P. | General Partner | Preferred capital amount | Series D perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					(260,241)
American Homes 4 Rent, L.P. | General Partner | Preferred capital amount | Series E perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units					$ (222,630)
American Homes 4 Rent, L.P. | General Partner | Preferred capital amount | Series F perpetual preferred shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units		$ (149,724)
American Homes 4 Rent, L.P. | Limited Partners | Common capital
Increase (Decrease) in Capital [Roll Forward]
Total capital, beginning balance (in shares)	51,376,980	51,376,980	51,376,980	51,376,980	51,376,980	51,726,980	51,376,980	51,726,980
Total capital, beginning balance	$ 676,741	$ 677,646	$ 678,582	$ 675,532	$ 677,452	$ 682,316	$ 678,582	$ 682,316
Distributions to capital holders:
Common units	(9,248)	(9,248)	(9,248)	(5,137)	(5,138)	(5,172)
Net income	$ 7,464	$ 8,343	$ 8,312	$ 5,869	$ 3,218	$ 4,925
Total capital, ending balance (in shares)	51,376,980	51,376,980	51,376,980	51,376,980	51,376,980	51,376,980	51,376,980	51,376,980
Total capital, ending balance	$ 674,957	$ 676,741	$ 677,646	$ 676,264	$ 675,532	$ 677,452	$ 674,957	$ 676,264
American Homes 4 Rent, L.P. | Limited Partners | Common capital | Class A common shares
Increase (Decrease) in Capital [Roll Forward]
Redemptions of units (in shares)						350,000
Redemptions of units						$ (4,617)

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Capital (Parenthetical) - Common capital - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Common share, dividends (in dollars per share)	$ 0.18	$ 0.18	$ 0.18	$ 0.10	$ 0.10	$ 0.10
Stock issuance cost			$ 200		$ 200
American Homes 4 Rent, L.P.
Common share, dividends (in dollars per share)	$ 0.18	$ 0.18	$ 0.18	$ 0.10	$ 0.10	$ 0.10
Stock issuance cost			$ 200		$ 200

Condensed Consolidated State_10

Condensed Consolidated Statements of Cash Flows (L.P.) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 206,234	$ 149,236
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	313,688	275,682
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,588	6,290
Noncash share-based compensation	23,728	14,319
Equity in net income of unconsolidated joint ventures	(3,135)	(875)
Return on investment from unconsolidated joint ventures	4,777	0
Gain on sale and impairment of single-family properties and other, net	(79,052)	(36,401)
Other changes in operating assets and liabilities:
Rent and other receivables	(10,789)	(13,863)
Prepaid expenses and other assets	3,572	11,247
Deferred leasing costs	(1,868)	(2,672)
Accounts payable and accrued expenses	134,237	95,471
Amounts due from related parties	(3,192)	(241)
Net cash provided by operating activities	596,788	498,193
Investing activities
Cash paid for single-family properties	(582,442)	(633,794)
Change in escrow deposits for purchase of single-family properties	8,492	(26,818)
Net proceeds received from sales of single-family properties and other	163,295	101,411
Proceeds received from storm-related insurance claims	1,981	1,993
Proceeds from notes receivable related to the sale of properties	34,014	0
Investment in unconsolidated joint ventures	(17,308)	(20,742)
Distributions from joint ventures	58,160	46,927
Renovations to single-family properties	(80,612)	(28,234)
Recurring and other capital expenditures for single-family properties	(98,763)	(90,413)
Cash paid for development activity	(707,764)	(524,884)
Cash paid for deposits on land option contracts	(10,686)	0
Other investing activities	(36,021)	(16,907)
Net cash used for investing activities	(1,267,654)	(1,191,461)
Financing activities
Redemption of perpetual preferred units	(155,000)	(498,750)
Proceeds from issuances under share-based compensation plans	3,323	4,094
Payments related to tax withholding for share-based compensation	(4,811)	(2,666)
Payments on asset-backed securitizations	(16,884)	(18,061)
Proceeds from unsecured senior notes, net of discount	876,813	737,195
Settlement of cash flow hedging instrument	0	(3,999)
Proceeds from liabilities related to consolidated land not owned	60,217	0
Distributions to common unitholders	(188,689)	(112,278)
Distributions to preferred unitholders	(13,595)	(32,160)
Deferred financing costs paid	(8,215)	(17,997)
Net cash provided by financing activities	736,819	630,185
Net increase (decrease) in cash, cash equivalents and restricted cash	65,953	(63,083)
Cash, cash equivalents and restricted cash, beginning of period (see Note 3)	191,767	265,077
Cash, cash equivalents and restricted cash, end of period (see Note 3)	257,720	201,994
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(89,400)	(85,472)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	65,586	37,877
Transfers of completed homebuilding deliveries to properties	335,684	252,218
Property and land contributions to unconsolidated joint ventures	(35,849)	(43,814)
Property and land distributions from unconsolidated joint ventures	8,397	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	3,885	989
Accrued distributions to affiliates	337	0
Accrued distributions to non-affiliates	114	166
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	490,000	1,060,000
Payments on revolving credit facility	(840,000)	(1,060,000)
American Homes 4 Rent, L.P.
Operating activities
Net income	206,234	149,236
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	313,688	275,682
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,588	6,290
Noncash share-based compensation	23,728	14,319
Equity in net income of unconsolidated joint ventures	(3,135)	(875)
Return on investment from unconsolidated joint ventures	4,777	0
Gain on sale and impairment of single-family properties and other, net	(79,052)	(36,401)
Other changes in operating assets and liabilities:
Rent and other receivables	(10,789)	(13,863)
Prepaid expenses and other assets	3,572	11,247
Deferred leasing costs	(1,868)	(2,672)
Accounts payable and accrued expenses	134,237	95,471
Amounts due from related parties	(3,192)	(241)
Net cash provided by operating activities	596,788	498,193
Investing activities
Cash paid for single-family properties	(582,442)	(633,794)
Change in escrow deposits for purchase of single-family properties	8,492	(26,818)
Net proceeds received from sales of single-family properties and other	163,295	101,411
Proceeds received from storm-related insurance claims	1,981	1,993
Proceeds from notes receivable related to the sale of properties	34,014	0
Investment in unconsolidated joint ventures	(17,308)	(20,742)
Distributions from joint ventures	58,160	46,927
Renovations to single-family properties	(80,612)	(28,234)
Recurring and other capital expenditures for single-family properties	(98,763)	(90,413)
Cash paid for development activity	(707,764)	(524,884)
Cash paid for deposits on land option contracts	(10,686)	0
Other investing activities	(36,021)	(16,907)
Net cash used for investing activities	(1,267,654)	(1,191,461)
Financing activities
Redemption of perpetual preferred units	(155,000)	(498,750)
Proceeds from issuances under share-based compensation plans	3,323	4,094
Payments related to tax withholding for share-based compensation	(4,811)	(2,666)
Payments on asset-backed securitizations	(16,884)	(18,061)
Proceeds from unsecured senior notes, net of discount	876,813	737,195
Settlement of cash flow hedging instrument	0	(3,999)
Proceeds from liabilities related to consolidated land not owned	60,217	0
Distributions to common unitholders	(216,301)	(130,311)
Distributions to preferred unitholders	(13,595)	(32,160)
Deferred financing costs paid	(8,215)	(17,997)
Net cash provided by financing activities	736,819	630,185
Net increase (decrease) in cash, cash equivalents and restricted cash	65,953	(63,083)
Cash, cash equivalents and restricted cash, beginning of period (see Note 3)	191,767	265,077
Cash, cash equivalents and restricted cash, end of period (see Note 3)	257,720	201,994
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(89,400)	(85,472)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	65,586	37,877
Transfers of completed homebuilding deliveries to properties	335,684	252,218
Property and land contributions to unconsolidated joint ventures	(35,849)	(43,814)
Property and land distributions from unconsolidated joint ventures	8,397	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	3,885	989
Accrued distributions to affiliates	337	0
Accrued distributions to non-affiliates	114	166
American Homes 4 Rent, L.P. | Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	490,000	1,060,000
Payments on revolving credit facility	(840,000)	(1,060,000)
American Homes 4 Rent, L.P. | Class A common shares
Financing activities
Proceeds from issuance of Class A common units	561,472	593,040
Payments of Class A common unit issuance costs	$ (200)	$ (200)

Organization and Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations American Homes 4 Rent (“AH4R” or “General Partner”) is a Maryland real estate investment trust (“REIT”) formed on October 19, 2012 for the purpose of acquiring, developing, 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” or the “OP”) is the entity through which the Company conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its 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 September 30, 2022, the Company held 58,961 single-family properties in 21 states, including 1,057 properties classified as held for sale. AH4R is the general partner of, and as of September 30, 2022 owned approximately 87.3% of the common partnership interest in, the Operating Partnership. The remaining 12.7% of the common partnership interest was 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 as 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, as amended, 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	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s review of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair statement of the condensed consolidated financial statements for the interim periods have been made. The operating results for interim periods are not necessarily indicative of results for other interim periods or the full year. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The condensed consolidated financial statements present the accounts of both (i) the Company, which include AH4R, the Operating Partnership and their consolidated subsidiaries, and (ii) the Operating Partnership, which include 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”) in accordance with Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”) , when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. Entities that are not VIEs and for which the Company owns an interest but does not consolidate are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the condensed consolidated balance sheets. The Company consolidates VIEs in accordance with ASC 810 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. The Company holds investments in venture capital funds and deposits with land banking entities, which were determined to be VIEs. As the Company does not control the activities that most significantly impact the economic performance of these entities, the Company was deemed not to be the primary beneficiary and therefore did not consolidate the entities. The investments in these unconsolidated venture capital funds are accounted for under the equity method of accounting and included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. As of September 30, 2022, the carrying value of the investments in these venture capital funds was $11.5 million and the Company’s maximum exposure to loss was $16.2 million, which includes all future capital funding requirements. The deposits with land banking entities are held at cost and included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. As of September 30, 2022, the carrying value of the deposits with land banking entities and the Company’s maximum exposure to loss was $10.7 million.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash 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 condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets (amounts in thousands): September 30, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 97,244 $ 63,997 $ 48,198 $ 137,060 Restricted cash 160,476 137,997 143,569 128,017 Total cash, cash equivalents and restricted cash $ 257,720 $ 201,994 $ 191,767 $ 265,077

Real Estate Assets, Net

Real Estate Assets, Net	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Occupied single-family properties $ 9,328,228 $ 8,522,080 Single-family properties leased, not yet occupied 71,963 77,221 Single-family properties in turnover process 284,230 184,170 Single-family properties recently renovated or developed 160,481 126,379 Single-family properties newly acquired and under renovation 60,508 337,643 Single-family properties in operation, net 9,905,410 9,247,493 Development land 641,514 549,653 Single-family properties under development 481,669 332,506 Single-family properties held for sale, net 189,991 114,907 Total real estate assets, net $ 11,218,584 $ 10,244,559 Depreciation expense related to single-family properties was $105.1 million and $90.6 million for the three months ended September 30, 2022 and 2021, respectively, and $301.9 million and $264.3 million for the nine months ended September 30, 2022 and 2021, respectively. Hurricane Ian impacted certain properties primarily located in Florida, South Carolina and North Carolina during the three months ended September 30, 2022. 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 three months ended September 30, 2022, the Company recognized $8.4 million in gross charges primarily related to an estimated accrual for minor repair and remediation costs, partially offset by an estimated $2.3 million of related insurance claims that we believe is probable we will recover. The $6.1 million of net charges were included in hurricane-related charges, net within the condensed consolidated statement of operations for the three and nine months ended September 30, 2022. The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except property data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Single-family properties: Properties sold 164 90 530 367 Net proceeds (1) $ 49,096 $ 26,683 $ 160,156 $ 100,815 Net gain on sale $ 24,501 $ 10,073 $ 82,193 $ 36,845 Land: Net proceeds $ 1,197 $ 277 $ 3,139 $ 596 Net gain (loss) on sale $ 70 $ 42 $ 496 $ (97) (1) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables

Rent and Other Receivables	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Rent and Other Receivables	Rent and Other ReceivablesIncluded in rents and other single-family property revenues are variable lease payments for tenant charge-backs, which primarily relate to cost recoveries on utilities, and variable lease payments for fees from single-family properties. Variable lease payments for tenant charge-backs were $62.0 million and $52.7 million for the three months ended September 30, 2022 and 2021, respectively, and $157.4 million and $136.5 million for the nine months ended September 30, 2022 and 2021, respectively. Variable lease payments for fees from single-family properties were $7.0 million and $6.0 million for the three months ended September 30, 2022 and 2021, respectively, and $20.0 million and $16.7 million for the nine months ended September 30, 2022 and 2021, respectively. The Company generally rents its single-family properties under non-cancelable lease agreements with a term of one year. The following table summarizes future minimum rental revenues under existing leases on our properties as of September 30, 2022 (amounts in thousands): September 30, 2022 Remaining 2022 $ 287,284 2023 496,844 2024 27,539 2025 27 Total $ 811,694 Rent and other receivables included $2.3 million of insurance claims receivables related to Hurricane Ian as of September 30, 2022 and $1.9 million of insurance claims receivables related to Winter Storm Uri as of December 31, 2021.

Escrow Deposits, Prepaid Expens

Escrow Deposits, Prepaid Expenses and Other Assets	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Consolidated land not owned $ 103,942 $ — Escrow deposits, prepaid expenses and other 102,993 88,414 Commercial real estate, software, vehicles and FF&E, net 76,745 62,462 Operating lease right-of-use assets 18,815 17,269 Deferred costs and other intangibles, net 10,835 13,134 Notes receivable, net 2,459 35,346 Total $ 315,789 $ 216,625 Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $3.5 million and $2.9 million for the three months ended September 30, 2022 and 2021, respectively, and $9.6 million and $8.3 million for the nine months ended September 30, 2022 and 2021, respectively. Consolidated Land Not Owned During the three and nine months ended September 30, 2022, the Company entered into land option agreements whereby it sold land to a third party with an option to repurchase finished lots on a predetermined schedule. Because of our options to repurchase the finished lots, in accordance with ASC 606-10-55-70, we accounted for these transactions as financing arrangements rather than a sale. Consolidated land not owned is included in escrow deposits, prepaid expenses and other assets and the liability for consolidated land not owned, which represents proceeds received from the third party net of our deposits on the optioned land, is included in accounts payable and accrued expenses in the condensed consolidated balance sheets (see Note 9. Accounts Payable and Accrued Expenses). Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Deferred leasing costs $ 2,336 $ 3,090 Deferred financing costs 22,491 22,491 24,827 25,581 Less: accumulated amortization (13,992) (12,447) Total $ 10,835 $ 13,134 Amortization expense related to deferred leasing costs was $0.7 million and $1.0 million for the three months ended September 30, 2022 and 2021, respectively, and $2.2 million and $3.1 million for the nine months ended September 30, 2022 and 2021, respectively, and is included in depreciation and amortization within the condensed consolidated statements of operations. Amortization of deferred financing costs related to our revolving credit facility was $0.7 million for both the three months ended September 30, 2022 and 2021 and $2.1 million and $1.8 million for the nine months ended September 30, 2022 and 2021, respectively, and is included in gross interest, prior to interest capitalization (see Note 8. Debt). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of September 30, 2022 for future periods (amounts in thousands): Deferred Deferred Total Remaining 2022 $ 527 $ 686 $ 1,213 2023 664 2,722 3,386 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,191 $ 9,644 $ 10,835

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures As of September 30, 2022, the Company held 20% ownership interests in three unconsolidated joint ventures. In evaluating the Company’s 20% ownership interests in these joint ventures, we concluded that the joint ventures are not VIEs after applying the variable interest model and, therefore, we account for our interests in the joint ventures as investments in unconsolidated subsidiaries after applying the voting interest model using the equity method of accounting. Equity in net income (losses) of unconsolidated joint ventures is included in other income and expense, net within the condensed consolidated statements of operations. The Company entered into a joint venture with (i) the Alaska Permanent Fund Corporation (the “Alaska JV”) during the second quarter of 2014 to invest in homes acquired through traditional acquisition channels, (ii) another leading institutional investor (the “Institutional Investor JV”) during the third quarter of 2018 to invest in newly constructed single-family rental homes, and (iii) institutional investors advised by J.P. Morgan Asset Management (the “J.P. Morgan JV”) during the first quarter of 2020 focused on constructing and operating newly built rental homes. The following table summarizes our investments in unconsolidated joint ventures (amounts in thousands, except percentages and property data): Joint Venture Description % Ownership at September 30, 2022 Completed Homes at September 30, 2022 Balances at Balances at Alaska JV 20 % 276 $ 19,394 $ 22,658 Institutional Investor JV 20 % 933 15,271 28,695 J.P. Morgan JV 20 % 1,062 75,744 70,597 2,271 $ 110,409 $ 121,950 The Company provides various services to these joint ventures, which are considered to be related parties, including property management and development services and has opportunities to earn promoted interests. Management fee and development fee income from unconsolidated joint ventures was $3.8 million and $2.8 million for the three months ended September 30, 2022 and 2021, respectively, and $10.2 million and $7.4 million for the nine months ended September 30, 2022 and 2021, respectively, and is included in other income and expense, net within the condensed consolidated statements of operations. As a result of the Company’s management of these joint ventures, certain related party receivables and payables arise in the ordinary course of business and are included in escrow deposits, prepaid expenses and other assets or amounts payable to affiliates in the condensed consolidated balance sheets. During the first quarter of 2022, the Company acquired 200 properties in a bulk transaction from the Institutional Investor JV for total consideration of $74.6 million, of which (i) $66.2 million was paid in cash and included in cash paid for single-family properties in the condensed consolidated statements of cash flows and (ii) $8.4 million was recorded as a noncash distribution resulting in a reduction to our equity method investment. The transaction was accounted for as an asset acquisition and resulted in a gain on sale at the Institutional Investor JV. Recognition of our pro rata portion of the gain on sale has been deferred by reducing the carrying value of the acquired properties in our condensed consolidated balance sheets. During the first quarter of 2022, the J.P. Morgan JV entered into a loan agreement to borrow up to a $375.0 million aggregate commitment. During the initial three-year term, the loan bears interest at the Secured Overnight Financing Rate (“SOFR”) plus a 1.5% margin and matures on January 28, 2025. The loan agreement provides for one one-year extension option that includes additional fees and interest. As of September 30, 2022, the joint venture’s loan had a $204.2 million outstanding principal balance. During the third quarter of 2022, the Institutional Investor JV amended its existing loan agreement to increase borrowing capacity to $250.0 million. During the initial two-year term, the loan bears interest at SOFR plus a 2.40% margin and matures on July 1, 2024. The loan agreement provides for two one-year extension options that include additional fees and interest. As of September 30, 2022, the joint venture’s loan had a $232.7 million outstanding principal balance. The Company has provided customary non-recourse guarantees for the J.P. Morgan JV and Institutional Investor JV loans that may become a liability for us upon a voluntary bankruptcy filing by the joint venture or the occurrence of other actions such as fraud or a material misrepresentation by us or the joint venture. To date, the guarantees have not been invoked, and we believe that the actions that would trigger a guarantee would generally be disadvantageous to the joint ventures and us and therefore are unlikely to occur. However, there can be no assurances that actions that could trigger the guarantee will not occur.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 (amounts in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date September 30, 2022 December 31, 2021 AH4R 2014-SFR2 securitization 4.42% October 9, 2024 $ 469,421 $ 473,594 AH4R 2014-SFR3 securitization 4.40% December 9, 2024 484,389 488,790 AH4R 2015-SFR1 securitization (2) 4.14% April 9, 2045 510,380 514,868 AH4R 2015-SFR2 securitization (3) 4.36% October 9, 2045 443,136 446,929 Total asset-backed securitizations 1,907,326 1,924,181 2028 unsecured senior notes (4) 4.08% February 15, 2028 500,000 500,000 2029 unsecured senior notes 4.90% February 15, 2029 400,000 400,000 2031 unsecured senior notes (5) 2.46% July 15, 2031 450,000 450,000 2032 unsecured senior notes 3.63% April 15, 2032 600,000 — 2051 unsecured senior notes 3.38% July 15, 2051 300,000 300,000 2052 unsecured senior notes 4.30% April 15, 2052 300,000 — Revolving credit facility (6) 4.04% April 15, 2026 — 350,000 Total debt 4,457,326 3,924,181 Unamortized discounts on unsecured senior notes (36,877) (15,561) Deferred financing costs, net (7) (31,282) (28,142) Total debt per balance sheet $ 4,389,167 $ 3,880,478 (1) Interest rates are rounded and as of September 30, 2022. Unless otherwise stated, interest rates are fixed percentages. (2) The AH4R 2015-SFR1 securitization has an anticipated repayment date of April 9, 2025. (3) The AH4R 2015-SFR2 securitization has an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the 2028 unsecured senior notes is 4.25%, which was hedged to yield an interest rate of 4.08%. (5) The stated interest rate on the 2031 unsecured senior notes is 2.38%, which was hedged to yield an interest rate of 2.46%. (6) The revolving credit facility provides for a borrowing capacity of up to $1.25 billion, and the Company had approximately $2.7 million and $1.6 million committed to outstanding letters of credit that reduced our borrowing capacity as of September 30, 2022 and December 31, 2021, respectively. The revolving credit facility bears interest at the London Inter-Bank Offered Rate plus 0.90% as of September 30, 2022. (7) Deferred financing costs relate to our asset-backed securitizations and unsecured senior notes. Amortization of deferred financing costs related to our asset-backed securitizations and unsecured senior notes was $1.8 million and $1.5 million for the three months ended September 30, 2022 and 2021, respectively, and $5.1 million and $4.5 million for the nine months ended September 30, 2022 and 2021, respectively, and is included in gross interest, prior to interest capitalization. Unsecured Senior Notes During the second quarter of 2022, the Operating Partnership issued $600.0 million of 3.625% unsecured senior notes with a maturity date of April 15, 2032 (the “2032 Notes”) and $300.0 million of 4.300% unsecured senior notes with a maturity date of April 15, 2052 (the “2052 Notes” and, together with the 2032 Notes, the “Notes”). Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year, commencing on October 15, 2022. The Operating Partnership received aggregate net proceeds of $870.3 million from these issuances, after underwriting fees of approximately $6.5 million and a $23.2 million discount, and before offering costs of approximately $1.7 million. The Operating Partnership used net proceeds from this offering to repay amounts outstanding on its revolving credit facility, for the redemption of its Series F perpetual preferred shares and for general corporate purposes. The Notes are the Operating Partnership’s unsecured and unsubordinated obligations and rank equally in right of payment with all of the Operating Partnership’s existing and future unsecured and unsubordinated indebtedness. The indentures require that we maintain certain financial covenants. The Operating Partnership may redeem the Notes in whole at any time or in part from time to time at the applicable redemption price specified in the indentures with respect to the Notes. If the 2032 Notes are redeemed on or after January 15, 2032 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. If the 2052 Notes are redeemed on or after October 15, 2051 (six months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. Debt Maturities The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of September 30, 2022 (amounts in thousands): Debt Maturities Remaining 2022 $ 5,179 2023 20,714 2024 951,097 2025 10,302 2026 10,302 Thereafter 3,459,732 Total debt $ 4,457,326 Interest Expense The following table summarizes our (i) gross interest cost, which includes fees on our credit facilities and amortization of deferred financing costs and the discounts on unsecured senior notes, and (ii) capitalized interest for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Gross interest cost $ 49,115 $ 40,161 $ 138,037 $ 108,459 Capitalized interest (12,861) (9,064) (39,415) (21,829) Interest expense $ 36,254 $ 31,097 $ 98,622 $ 86,630

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued ExpensesThe following table summarizes accounts payable and accrued expenses as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Accrued property taxes $ 152,439 $ 52,545 Resident security deposits 119,510 105,809 Accrued construction and maintenance liabilities 80,250 50,655 Liability for consolidated land not owned (see Note 6) 65,301 — Accrued interest 33,966 33,332 Prepaid rent 32,121 31,190 Operating lease liabilities 20,377 18,723 Accounts payable 3,426 1,113 Other accrued liabilities 59,850 50,159 Total $ 567,240 $ 343,526

Shareholders' Equity _ Partners

Shareholders' Equity / Partners' Capital	9 Months Ended
	Sep. 30, 2022
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 Share Offering During the first quarter of 2022, the Company completed an underwritten public offering for 23,000,000 of its Class A common shares of beneficial interest, $0.01 par value per share, of which 10,000,000 shares were issued directly by the Company and 13,000,000 shares were offered on a forward basis at the request of the Company by the forward sellers. In connection with this offering, the Company entered into forward sale agreements with the forward purchasers (the “January 2022 Forward Sale Agreements”) for these 13,000,000 shares which are accounted for in equity. The Company received net proceeds of $375.8 million from the 10,000,000 Class A common shares issued directly by the Company after deducting underwriting fees and before offering costs of approximately $0.2 million. The Company did not initially receive proceeds from the sale of the Class A common shares offered on a forward basis. In September 2022, the Company issued and physically settled 5,000,000 Class A common shares under the January 2022 Forward Sale Agreements, receiving net proceeds of $185.6 million. The Company used these net proceeds to repay indebtedness under its revolving credit facility and for general corporate purposes. As of September 30, 2022, 8,000,000 Class A common shares remained available for future settlement under the January 2022 Forward Sale Agreements. The Company expects to physically settle the remaining shares by January 20, 2023 through the delivery of the Class A common shares and expects that net proceeds will be approximately $297.1 million. The Company expects to use these net proceeds (i) to repay indebtedness it has incurred or expects to incur under its revolving credit facility, (ii) to develop new single-family properties and communities, (iii) to acquire and renovate single-family properties and for related activities in accordance with its business strategy and (iv) for general corporate purposes. Although the Company expects to physically settle, the January 2022 Forward Sale Agreements allow the Company to cash or net-share settle all or a portion of its obligations. If the Company elects to cash or net share settle the January 2022 Forward Sale Agreements, the Company may not receive any proceeds, and may owe cash or Class A common shares to the forward purchasers in certain circumstances. The January 2022 Forward Sale Agreements are subject to early termination or settlement under certain circumstances. At-the-Market Common Share Offering Program The Company maintains an at-the-market common share offering program under which it can issue Class A common shares from time to time through various sales agents up to an aggregate gross sales offering price of $500.0 million (the “At-the-Market Program”). The At-the-Market Program also provides that we may enter into forward contracts for our Class A common shares with forward sellers and forward purchasers. The Company intends to use any net proceeds from the At-the-Market Program (i) to repay indebtedness the Company has incurred or expects to incur under its revolving credit facility, (ii) to develop new single-family properties and communities, (iii) to acquire and renovate single-family properties and for related activities in accordance with its business strategy and (iv) for working capital and general corporate purposes, including repurchases of the Company’s securities, acquisitions of additional properties, capital expenditures and the expansion, redevelopment and/or improvement of properties in the Company’s portfolio. The At-the-Market Program may be suspended or terminated by the Company at any time. During the nine months ended September 30, 2022 and 2021, no shares were issued under the At-the-Market Program. As of September 30, 2022, 1,835,416 shares have been issued under the At-the-Market Program and $425.2 million remained available for future share issuances. Share Repurchase Program The Company’s board of trustees authorized the establishment of our share repurchase program for the repurchase of up to $300.0 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares from time to time in the open market or in privately negotiated transactions. The program does not have an expiration date, but may be suspended or discontinued at any time without notice. All repurchased shares are constructively retired and returned to an authorized and unissued status. The Operating Partnership funds the repurchases and constructively retires an equivalent number of corresponding Class A units. During the nine months ended September 30, 2022 and 2021, we did not repurchase and retire any of our Class A common shares or preferred shares. As of September 30, 2022, we had a remaining repurchase authorization of up to $265.1 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares under the program. Perpetual Preferred Shares As of September 30, 2022 and December 31, 2021, the Company had the following series of perpetual preferred shares outstanding (amounts in thousands, except share data): September 30, 2022 December 31, 2021 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % — $ — 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 4,600,000 115,000 Total preferred shares 9,200,000 $ 230,000 15,400,000 $ 385,000 During the second quarter of 2022, the Company redeemed all 6,200,000 shares of the outstanding 5.875% Series F perpetual preferred shares, $0.01 par value per share, for cash at the liquidation preference of $25.00 per share plus any accrued and unpaid dividends in accordance with the terms of such shares. The Operating Partnership also redeemed its corresponding Series F perpetual preferred units. As a result of the redemption, the Company recorded a $5.3 million allocation of income to the Series F perpetual preferred shareholders within the condensed consolidated statements of operations during the nine months ended September 30, 2022, which represents the initial liquidation value of the Series F perpetual preferred shares in excess of its carrying value as of the redemption date. Distributions The Company’s board of trustees declared the following distributions during the respective quarters. The Operating Partnership funds the payment of distributions, and the board of trustees declared an equivalent amount of distributions on the corresponding OP units. For the Three Months Ended Security September 30, June 30, March 31, September 30, June 30, March 31, Class A and Class B common shares $ 0.18 $ 0.18 $ 0.18 $ 0.10 $ 0.10 $ 0.10 6.500% Series D perpetual preferred shares (1) — — — — 0.30 0.41 6.350% Series E perpetual preferred shares (2) — — — — 0.40 0.40 5.875% Series F perpetual preferred shares (3) — 0.14 0.37 0.37 0.37 0.37 5.875% Series G perpetual preferred shares 0.37 0.37 0.37 0.37 0.37 0.37 6.250% Series H perpetual preferred shares 0.39 0.39 0.39 0.39 0.39 0.39 (1) The 6.500% Series D perpetual preferred shares were redeemed on June 7, 2021. (2) The 6.350% Series E perpetual preferred shares were redeemed on June 30, 2021. (3) The 5.875% Series F perpetual preferred shares were redeemed on May 5, 2022. Noncontrolling Interest Noncontrolling interest as reflected in the Company’s condensed consolidated balance sheets primarily consists of the interests held by former American Homes 4 Rent, LLC (“AH LLC”) members in units in the Operating Partnership. Former AH LLC members owned 50,779,990, or approximately 12.5% and 13.0%, of the total 404,821,515 and 389,374,771 Class A units in the Operating Partnership as of September 30, 2022 and December 31, 2021, respectively. Noncontrolling interest also includes interests held by non-affiliates in Class A units in the Operating Partnership. Non-affiliate Class A unitholders owned 596,990, or approximately 0.2%, of the total 404,821,515 and 389,374,771 Class A units in the Operating Partnership as of September 30, 2022 and December 31, 2021, respectively. The OP units owned by former AH LLC members and non-affiliates are reflected as noncontrolling interest in the Company’s condensed consolidated balance sheets and limited partner capital in the Operating Partnership’s condensed consolidated balance sheets.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation 2021 Equity Incentive Plan The Company’s 2021 Equity Incentive Plan (the “2021 Plan”), which replaced the 2012 Equity Incentive Plan (the “2012 Plan”), provides for the issuance of Class A common shares through the grant of a variety of awards including stock options, stock appreciation rights, restricted share units (“RSUs”), unrestricted shares, dividend equivalent rights and performance-based awards. When the Company issues Class A common shares under the 2021 Plan, the Operating Partnership issues an equivalent number of Class A units to AH4R. During the nine months ended September 30, 2022 and 2021, the Human Capital and Compensation Committee granted RSUs to employees that vest over a one During the nine months ended September 30, 2022 and 2021, the Human Capital and Compensation Committee granted performance-based restricted share units (“PSUs”) to certain senior employees that cliff vest at the end of a three-year service period. The performance conditions of the PSUs are measured over the three-year performance period January 1, 2022 through December 31, 2024 for PSUs granted during the nine months ended September 30, 2022 and January 1, 2021 through December 31, 2023 for PSUs granted during the nine months ended September 30, 2021. A portion of the PSUs are based on (i) the achievement of relative total shareholder return compared to a specified peer group (the “TSR Awards”), and a portion are based on (ii) average annual growth in core funds from operations per share (the “Core FFO Awards”). The number of PSUs that may ultimately vest range from zero to 200% of the number of PSUs granted based on the level of achievement of these performance conditions. For the TSR Awards, grant date fair value was determined using a multifactor Monte Carlo model and the resulting compensation cost is amortized over the service period regardless of whether the performance condition is achieved. For the Core FFO Awards, fair value is based on the market value on the date of grant and compensation cost is recognized based on the probable achievement of the performance condition at each reporting period. The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 Options outstanding at beginning of period 824,300 1,090,300 Granted — — Exercised (63,750) (259,000) Forfeited — — Options outstanding at end of period 760,550 831,300 Options exercisable at end of period 755,550 793,800 The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 RSUs outstanding at beginning of period 1,050,599 651,537 Awarded 465,171 645,955 Vested (439,331) (208,574) Forfeited (37,045) (28,239) RSUs outstanding at end of period 1,039,394 1,060,679 The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 PSUs outstanding at beginning of period 92,319 — Awarded 202,104 92,319 Vested — — Forfeited — — PSUs outstanding at end of period 294,423 92,319 2021 Employee Stock Purchase Plan In 2021, the Company’s shareholders approved and the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which provides for the issuance of 3,000,000 Class A common shares. The 2021 ESPP terminates in June 2031 or the date on which there are no longer any Class A common shares available for issuance. The 2021 ESPP allows employees to acquire the Company’s Class A common shares through payroll deductions, subject to maximum purchase limitations, during six-month purchase periods. The purchase price for Class A common shares may be set at a maximum discount equal to 85% of the lower of the closing price of the Company’s Class A common shares on the first day or the last day of the applicable purchase period. When the Company issues Class A common shares under the 2021 ESPP, the Operating Partnership issues an equivalent number of Class A units to AH4R. Share-Based Compensation Expense The Company’s noncash share-based compensation expense relating to corporate administrative employees is included in general and administrative expense and the noncash share-based compensation expense relating to centralized and field property management employees is included in property management expenses. Noncash share-based compensation expense relating to employees involved in the purchases of single-family properties, including newly constructed properties from third-party builders, the development of single-family properties, or the disposal of certain properties or portfolios of properties is included in acquisition and other transaction costs. The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 General and administrative expense $ 3,390 $ 1,557 $ 13,352 $ 7,722 Property management expenses 1,015 680 3,146 2,278 Acquisition and other transaction costs 1,275 821 7,230 4,319 Total noncash share-based compensation expense $ 5,680 $ 3,058 $ 23,728 $ 14,319

Earnings per Share _ Unit

Earnings per Share / Unit	9 Months Ended
	Sep. 30, 2022
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 per common share on a basic and diluted basis for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except share and per share data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net income $ 61,665 $ 48,501 $ 206,234 $ 149,236 Less: Noncontrolling interest 7,464 5,869 24,119 14,012 Dividends on preferred shares 3,486 5,763 13,595 32,160 Redemption of perpetual preferred shares — — 5,276 15,879 Allocation to participating securities (1) 188 118 583 300 Numerator for income per common share–basic and diluted $ 50,527 $ 36,751 $ 162,661 $ 86,885 Denominator: Weighted-average common shares outstanding–basic 348,944,055 324,002,538 347,730,579 320,267,903 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 400,486 2,203,885 552,416 1,611,332 Weighted-average common shares outstanding–diluted (3) 349,344,541 326,206,423 348,282,995 321,879,235 Net income per common share: Basic $ 0.14 $ 0.11 $ 0.47 $ 0.27 Diluted $ 0.14 $ 0.11 $ 0.47 $ 0.27 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10. Shareholders’ Equity / Partners’ Capital). (3) 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 condensed 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 per common unit on a basic and diluted basis for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except unit and per unit data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net income $ 61,665 $ 48,501 $ 206,234 $ 149,236 Less: Preferred distributions 3,486 5,763 13,595 32,160 Redemption of perpetual preferred units — — 5,276 15,879 Allocation to participating securities (1) 188 118 583 300 Numerator for income per common unit–basic and diluted $ 57,991 $ 42,620 $ 186,780 $ 100,897 Denominator: Weighted-average common units outstanding–basic 400,321,035 375,379,518 399,107,559 371,739,755 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 400,486 2,203,885 552,416 1,611,332 Weighted-average common units outstanding–diluted 400,721,521 377,583,403 399,659,975 373,351,087 Net income per common unit: Basic $ 0.14 $ 0.11 $ 0.47 $ 0.27 Diluted $ 0.14 $ 0.11 $ 0.47 $ 0.27 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per unit using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10. Shareholders’ Equity / Partners’ Capital).

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2022
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 generally approximate fair value because of the short maturity of these amounts. Our notes receivable are financial instruments classified as Level 3 in the fair value hierarchy as their fair values were estimated using unobservable inputs. We estimated the fair values of the notes receivable by modeling the expected contractual cash flows required under the instruments and discounting them back to their present values using estimates of current market rates. As the estimated current market rates were not substantially different from the discount rates originally applied, the carrying amount of notes receivable, net approximates fair value. Our asset-backed securitizations and revolving credit facility are financial instruments classified as Level 3 in the fair value hierarchy as their fair values were estimated using unobservable inputs. We estimated the fair values of the asset-backed securitizations by modeling the contractual cash flows required under the instruments and discounting them back to their present values using estimates of current market rates. As our revolving credit facility bears interest at a floating rate based on an index plus a spread (see Note 8. Debt), management believes that the carrying value (excluding deferred financing costs) of the revolving credit facility reasonably approximates fair value. Our unsecured senior notes are financial instruments classified as Level 2 in the fair value hierarchy as their fair values were 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 September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 466,825 $ 471,249 $ 470,039 $ 479,464 AH4R 2014-SFR3 securitization 481,567 486,365 485,005 495,659 AH4R 2015-SFR1 securitization 507,107 512,425 510,585 521,639 AH4R 2015-SFR2 securitization 439,770 444,771 442,717 455,264 Total asset-backed securitizations 1,895,269 1,914,810 1,908,346 1,952,026 2028 unsecured senior notes, net 495,759 461,625 495,166 554,895 2029 unsecured senior notes, net 396,402 375,716 395,990 463,840 2031 unsecured senior notes, net 440,873 340,875 440,095 442,953 2032 unsecured senior notes, net 581,041 492,774 — — 2051 unsecured senior notes, net 291,112 188,400 290,881 304,461 2052 unsecured senior notes, net 288,711 219,978 — — Total unsecured senior notes, net 2,493,898 2,079,368 1,622,132 1,766,149 Revolving credit facility — — 350,000 350,000 Total debt $ 4,389,167 $ 3,994,178 $ 3,880,478 $ 4,068,175 During the first quarter of 2021, in anticipation of a debt issuance and in order to hedge interest rate risk, the Company entered into a treasury lock agreement with a notional amount of $400.0 million based on the 10-year treasury note rate at the time. The treasury lock was designated as a cash flow hedging instrument. The Company settled the treasury lock during the second quarter of 2021 in connection with the pricing of the 2031 unsecured senior notes, which resulted in a $4.0 million loss recorded in other comprehensive loss at the time that will be reclassified into earnings as an increase to interest expense over the 10-year term of the 2031 unsecured senior notes. The treasury lock was the only financial instrument recorded at fair value on a recurring basis in the condensed consolidated financial statements and was 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of September 30, 2022 and December 31, 2021, affiliates owned approximately 12.9% and 13.5%, 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 50,622,165 Class A units as of September 30, 2022 and December 31, 2021) an approximate 23.9% and 24.8% interest as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, 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 on the Operating Partnership’s condensed consolidated balance sheets. See Note 7. Investments in Unconsolidated Joint Ventures for a description of related party transactions between the Company and its unconsolidated joint ventures.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of September 30, 2022, the Company had commitments to acquire 102 single-family properties for an aggregate purchase price of $27.6 million, as well as $453.1 million in purchase commitments for land relating to our AMH Development Program, which includes certain land deals expected to close beyond twelve months when development is ready to commence. Purchase commitments exclude option contracts where we have acquired the right to purchase land for our AMH Development Program or single-family properties because the contracts do not contain provisions requiring our specific performance. As of September 30, 2022, the Company had sales in escrow for approximately 140 of our single-family properties and 275 of our land lots for aggregate selling prices of $57.4 million. As of September 30, 2022, the Company, as a condition for entering into some of its development contracts, had outstanding surety bonds of approximately $167.2 million. Legal Matters During the third quarter of 2020, we received a notice from the Georgia Attorney General’s Office (the “Georgia AG”) seeking certain information relevant to an investigation they are conducting about our customary landlord-tenant matters. We have been cooperating with the Georgia AG and have been discussing a possible negotiated resolution with the Georgia AG. We are involved in various other 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent Acquisitions From October 1, 2022 through October 31, 2022, the Company added 154 properties to its portfolio for a total cost of approximately $54.2 million, which included 121 newly constructed properties delivered through our AMH Development Program and 19 newly constructed homes acquired from third-party developers through our National Builder Program. Subsequent Dispositions From October 1, 2022 through October 31, 2022, the Company disposed of 92 properties for aggregate net proceeds of approximately $27.3 million.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s review of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair statement of the condensed consolidated financial statements for the interim periods have been made. The operating results for interim periods are not necessarily indicative of results for other interim periods or the full year. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements present the accounts of both (i) the Company, which include AH4R, the Operating Partnership and their consolidated subsidiaries, and (ii) the Operating Partnership, which include 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”) in accordance with Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”) , when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. Entities that are not VIEs and for which the Company owns an interest but does not consolidate are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the condensed consolidated balance sheets. The Company consolidates VIEs in accordance with ASC 810 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. The Company holds investments in venture capital funds and deposits with land banking entities, which were determined to be VIEs. As the Company does not control the activities that most significantly impact the economic performance of these entities, the Company was deemed not to be the primary beneficiary and therefore did not consolidate the entities. The investments in these unconsolidated venture capital funds are accounted for under the equity method of accounting and included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. As of September 30, 2022, the carrying value of the investments in these venture capital funds was $11.5 million and the Company’s maximum exposure to loss was $16.2 million, which includes all future capital funding requirements. The deposits with land banking entities are held at cost and included in escrow deposits, prepaid expenses and other assets within the condensed consolidated balance sheets. As of September 30, 2022, the carrying value of the deposits with land banking entities and the Company’s maximum exposure to loss was $10.7 million.

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets (amounts in thousands): September 30, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 97,244 $ 63,997 $ 48,198 $ 137,060 Restricted cash 160,476 137,997 143,569 128,017 Total cash, cash equivalents and restricted cash $ 257,720 $ 201,994 $ 191,767 $ 265,077
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets (amounts in thousands): September 30, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 97,244 $ 63,997 $ 48,198 $ 137,060 Restricted cash 160,476 137,997 143,569 128,017 Total cash, cash equivalents and restricted cash $ 257,720 $ 201,994 $ 191,767 $ 265,077

Real Estate Assets, Net (Tables

Real Estate Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Single-Family Properties, Net	The net book values of real estate assets consisted of the following as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Occupied single-family properties $ 9,328,228 $ 8,522,080 Single-family properties leased, not yet occupied 71,963 77,221 Single-family properties in turnover process 284,230 184,170 Single-family properties recently renovated or developed 160,481 126,379 Single-family properties newly acquired and under renovation 60,508 337,643 Single-family properties in operation, net 9,905,410 9,247,493 Development land 641,514 549,653 Single-family properties under development 481,669 332,506 Single-family properties held for sale, net 189,991 114,907 Total real estate assets, net $ 11,218,584 $ 10,244,559 The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except property data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Single-family properties: Properties sold 164 90 530 367 Net proceeds (1) $ 49,096 $ 26,683 $ 160,156 $ 100,815 Net gain on sale $ 24,501 $ 10,073 $ 82,193 $ 36,845 Land: Net proceeds $ 1,197 $ 277 $ 3,139 $ 596 Net gain (loss) on sale $ 70 $ 42 $ 496 $ (97) (1) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables (Tab

Rent and Other Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Future Minimum Rental Revenues	The following table summarizes future minimum rental revenues under existing leases on our properties as of September 30, 2022 (amounts in thousands): September 30, 2022 Remaining 2022 $ 287,284 2023 496,844 2024 27,539 2025 27 Total $ 811,694

Escrow Deposits, Prepaid Expe_2

Escrow Deposits, Prepaid Expenses and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Consolidated land not owned $ 103,942 $ — Escrow deposits, prepaid expenses and other 102,993 88,414 Commercial real estate, software, vehicles and FF&E, net 76,745 62,462 Operating lease right-of-use assets 18,815 17,269 Deferred costs and other intangibles, net 10,835 13,134 Notes receivable, net 2,459 35,346 Total $ 315,789 $ 216,625
Deferred Costs and Other Intangibles	Deferred costs and other intangibles, net, consisted of the following as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Deferred leasing costs $ 2,336 $ 3,090 Deferred financing costs 22,491 22,491 24,827 25,581 Less: accumulated amortization (13,992) (12,447) Total $ 10,835 $ 13,134
Amortization Expense Related to Deferred Costs and Other Intangibles	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of September 30, 2022 for future periods (amounts in thousands): Deferred Deferred Total Remaining 2022 $ 527 $ 686 $ 1,213 2023 664 2,722 3,386 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,191 $ 9,644 $ 10,835

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Venture Arrangements Accounting for Under Equity Method	The following table summarizes our investments in unconsolidated joint ventures (amounts in thousands, except percentages and property data): Joint Venture Description % Ownership at September 30, 2022 Completed Homes at September 30, 2022 Balances at Balances at Alaska JV 20 % 276 $ 19,394 $ 22,658 Institutional Investor JV 20 % 933 15,271 28,695 J.P. Morgan JV 20 % 1,062 75,744 70,597 2,271 $ 110,409 $ 121,950

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt as of September 30, 2022 and December 31, 2021 (amounts in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date September 30, 2022 December 31, 2021 AH4R 2014-SFR2 securitization 4.42% October 9, 2024 $ 469,421 $ 473,594 AH4R 2014-SFR3 securitization 4.40% December 9, 2024 484,389 488,790 AH4R 2015-SFR1 securitization (2) 4.14% April 9, 2045 510,380 514,868 AH4R 2015-SFR2 securitization (3) 4.36% October 9, 2045 443,136 446,929 Total asset-backed securitizations 1,907,326 1,924,181 2028 unsecured senior notes (4) 4.08% February 15, 2028 500,000 500,000 2029 unsecured senior notes 4.90% February 15, 2029 400,000 400,000 2031 unsecured senior notes (5) 2.46% July 15, 2031 450,000 450,000 2032 unsecured senior notes 3.63% April 15, 2032 600,000 — 2051 unsecured senior notes 3.38% July 15, 2051 300,000 300,000 2052 unsecured senior notes 4.30% April 15, 2052 300,000 — Revolving credit facility (6) 4.04% April 15, 2026 — 350,000 Total debt 4,457,326 3,924,181 Unamortized discounts on unsecured senior notes (36,877) (15,561) Deferred financing costs, net (7) (31,282) (28,142) Total debt per balance sheet $ 4,389,167 $ 3,880,478 (1) Interest rates are rounded and as of September 30, 2022. Unless otherwise stated, interest rates are fixed percentages. (2) The AH4R 2015-SFR1 securitization has an anticipated repayment date of April 9, 2025. (3) The AH4R 2015-SFR2 securitization has an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the 2028 unsecured senior notes is 4.25%, which was hedged to yield an interest rate of 4.08%. (5) The stated interest rate on the 2031 unsecured senior notes is 2.38%, which was hedged to yield an interest rate of 2.46%. (6) The revolving credit facility provides for a borrowing capacity of up to $1.25 billion, and the Company had approximately $2.7 million and $1.6 million committed to outstanding letters of credit that reduced our borrowing capacity as of September 30, 2022 and December 31, 2021, respectively. The revolving credit facility bears interest at the London Inter-Bank Offered Rate plus 0.90% as of September 30, 2022. (7) Deferred financing costs relate to our asset-backed securitizations and unsecured senior notes. Amortization of deferred financing costs related to our asset-backed securitizations and unsecured senior notes was $1.8 million and $1.5 million for the three months ended September 30, 2022 and 2021, respectively, and $5.1 million and $4.5 million for the nine months ended September 30, 2022 and 2021, respectively, and is included in gross interest, prior to interest capitalization.
Schedule of Maturities of Long-term Debt	The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of September 30, 2022 (amounts in thousands): Debt Maturities Remaining 2022 $ 5,179 2023 20,714 2024 951,097 2025 10,302 2026 10,302 Thereafter 3,459,732 Total debt $ 4,457,326
Summary of Activity that Relates to Capitalized Interest	The following table summarizes our (i) gross interest cost, which includes fees on our credit facilities and amortization of deferred financing costs and the discounts on unsecured senior notes, and (ii) capitalized interest for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Gross interest cost $ 49,115 $ 40,161 $ 138,037 $ 108,459 Capitalized interest (12,861) (9,064) (39,415) (21,829) Interest expense $ 36,254 $ 31,097 $ 98,622 $ 86,630

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Accrued property taxes $ 152,439 $ 52,545 Resident security deposits 119,510 105,809 Accrued construction and maintenance liabilities 80,250 50,655 Liability for consolidated land not owned (see Note 6) 65,301 — Accrued interest 33,966 33,332 Prepaid rent 32,121 31,190 Operating lease liabilities 20,377 18,723 Accounts payable 3,426 1,113 Other accrued liabilities 59,850 50,159 Total $ 567,240 $ 343,526

Shareholders' Equity _ Partne_2

Shareholders' Equity / Partners' Capital (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Preferred Shares Outstanding	As of September 30, 2022 and December 31, 2021, the Company had the following series of perpetual preferred shares outstanding (amounts in thousands, except share data): September 30, 2022 December 31, 2021 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % — $ — 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 4,600,000 115,000 Total preferred shares 9,200,000 $ 230,000 15,400,000 $ 385,000
Schedule of Distributions Made During Period	The Operating Partnership funds the payment of distributions, and the board of trustees declared an equivalent amount of distributions on the corresponding OP units. For the Three Months Ended Security September 30, June 30, March 31, September 30, June 30, March 31, Class A and Class B common shares $ 0.18 $ 0.18 $ 0.18 $ 0.10 $ 0.10 $ 0.10 6.500% Series D perpetual preferred shares (1) — — — — 0.30 0.41 6.350% Series E perpetual preferred shares (2) — — — — 0.40 0.40 5.875% Series F perpetual preferred shares (3) — 0.14 0.37 0.37 0.37 0.37 5.875% Series G perpetual preferred shares 0.37 0.37 0.37 0.37 0.37 0.37 6.250% Series H perpetual preferred shares 0.39 0.39 0.39 0.39 0.39 0.39 (1) The 6.500% Series D perpetual preferred shares were redeemed on June 7, 2021. (2) The 6.350% Series E perpetual preferred shares were redeemed on June 30, 2021. (3) The 5.875% Series F perpetual preferred shares were redeemed on May 5, 2022.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity under Plan	The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 Options outstanding at beginning of period 824,300 1,090,300 Granted — — Exercised (63,750) (259,000) Forfeited — — Options outstanding at end of period 760,550 831,300 Options exercisable at end of period 755,550 793,800
Summary of Restricted Share Units Activity Under Plan	The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 RSUs outstanding at beginning of period 1,050,599 651,537 Awarded 465,171 645,955 Vested (439,331) (208,574) Forfeited (37,045) (28,239) RSUs outstanding at end of period 1,039,394 1,060,679
Summary of Performance Share Units Activity Under Plan	The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the nine months ended September 30, 2022 and 2021: For the Nine Months Ended 2022 2021 PSUs outstanding at beginning of period 92,319 — Awarded 202,104 92,319 Vested — — Forfeited — — PSUs outstanding at end of period 294,423 92,319
Summary of Activity in Noncash Share-Based Compensation Expense	The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 General and administrative expense $ 3,390 $ 1,557 $ 13,352 $ 7,722 Property management expenses 1,015 680 3,146 2,278 Acquisition and other transaction costs 1,275 821 7,230 4,319 Total noncash share-based compensation expense $ 5,680 $ 3,058 $ 23,728 $ 14,319

Earnings per Share _ Unit (Tabl

Earnings per Share / Unit (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computation of Net Income per Share on Basic and Diluted Basis	The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except share and per share data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net income $ 61,665 $ 48,501 $ 206,234 $ 149,236 Less: Noncontrolling interest 7,464 5,869 24,119 14,012 Dividends on preferred shares 3,486 5,763 13,595 32,160 Redemption of perpetual preferred shares — — 5,276 15,879 Allocation to participating securities (1) 188 118 583 300 Numerator for income per common share–basic and diluted $ 50,527 $ 36,751 $ 162,661 $ 86,885 Denominator: Weighted-average common shares outstanding–basic 348,944,055 324,002,538 347,730,579 320,267,903 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 400,486 2,203,885 552,416 1,611,332 Weighted-average common shares outstanding–diluted (3) 349,344,541 326,206,423 348,282,995 321,879,235 Net income per common share: Basic $ 0.14 $ 0.11 $ 0.47 $ 0.27 Diluted $ 0.14 $ 0.11 $ 0.47 $ 0.27 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10. Shareholders’ Equity / Partners’ Capital). (3) 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 condensed 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 per common unit on a basic and diluted basis for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except unit and per unit data): For the Three Months Ended For the Nine Months Ended 2022 2021 2022 2021 Numerator: Net income $ 61,665 $ 48,501 $ 206,234 $ 149,236 Less: Preferred distributions 3,486 5,763 13,595 32,160 Redemption of perpetual preferred units — — 5,276 15,879 Allocation to participating securities (1) 188 118 583 300 Numerator for income per common unit–basic and diluted $ 57,991 $ 42,620 $ 186,780 $ 100,897 Denominator: Weighted-average common units outstanding–basic 400,321,035 375,379,518 399,107,559 371,739,755 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 400,486 2,203,885 552,416 1,611,332 Weighted-average common units outstanding–diluted 400,721,521 377,583,403 399,659,975 373,351,087 Net income per common unit: Basic $ 0.14 $ 0.11 $ 0.47 $ 0.27 Diluted $ 0.14 $ 0.11 $ 0.47 $ 0.27 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per unit using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10. Shareholders’ Equity / Partners’ Capital).

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Fair Values of Debt Instruments	The following table displays the carrying values and fair values of our debt instruments as of September 30, 2022 and December 31, 2021 (amounts in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 466,825 $ 471,249 $ 470,039 $ 479,464 AH4R 2014-SFR3 securitization 481,567 486,365 485,005 495,659 AH4R 2015-SFR1 securitization 507,107 512,425 510,585 521,639 AH4R 2015-SFR2 securitization 439,770 444,771 442,717 455,264 Total asset-backed securitizations 1,895,269 1,914,810 1,908,346 1,952,026 2028 unsecured senior notes, net 495,759 461,625 495,166 554,895 2029 unsecured senior notes, net 396,402 375,716 395,990 463,840 2031 unsecured senior notes, net 440,873 340,875 440,095 442,953 2032 unsecured senior notes, net 581,041 492,774 — — 2051 unsecured senior notes, net 291,112 188,400 290,881 304,461 2052 unsecured senior notes, net 288,711 219,978 — — Total unsecured senior notes, net 2,493,898 2,079,368 1,622,132 1,766,149 Revolving credit facility — — 350,000 350,000 Total debt $ 4,389,167 $ 3,994,178 $ 3,880,478 $ 4,068,175

Organization and Operations (De

Organization and Operations (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) state singleFamilyProperty property	Dec. 31, 2021 USD ($)
Real Estate Properties [Line Items]
Number of states | state	21
Asset-backed securitization certificates | $	$ 25,666	$ 25,666
Exchange rate	1
American Homes 4 Rent
Real Estate Properties [Line Items]
General partner interest	87.30%
Limited Partners
Real Estate Properties [Line Items]
Limited partner interest	12.70%
Single Family Homes
Real Estate Properties [Line Items]
Number of properties | singleFamilyProperty	58,961
Single Family Homes | Disposal Group, Held-for-sale, Not Discontinued Operations
Real Estate Properties [Line Items]
Number of properties | property	1,057

Significant Accounting Polici_3

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Carrying value of investments in limited partnerships	$ 110,409	$ 121,950
Variable Interest Entity, Not Primary Beneficiary | Land Banking Deposits
Variable Interest Entity [Line Items]
Maximum exposure to loss	10,700
Carrying value of deposits with land banking entities	10,700
Variable Interest Entity, Not Primary Beneficiary | Venture Capital Funds
Variable Interest Entity [Line Items]
Carrying value of investments in limited partnerships	11,500
Maximum exposure to loss	$ 16,200

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Term of restriction	1 year
Cash and cash equivalents	$ 97,244	$ 48,198	$ 63,997	$ 137,060
Restricted cash	160,476	143,569	137,997	128,017
Total cash, cash equivalents and restricted cash	$ 257,720	$ 191,767	$ 201,994	$ 265,077

Real Estate Assets, Net - Compo

Real Estate Assets, Net - Components of Single-Family Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Real Estate [Line Items]
Single-family properties in operation, net	$ 9,905,410	$ 9,247,493
Development land	641,514	549,653
Single-family properties under development	481,669	332,506
Single-family properties held for sale, net	189,991	114,907
Total real estate assets, net	11,218,584	10,244,559
Occupied single-family properties
Real Estate [Line Items]
Single-family properties in operation, net	9,328,228	8,522,080
Single-family properties leased, not yet occupied
Real Estate [Line Items]
Single-family properties in operation, net	71,963	77,221
Single-family properties in turnover process
Real Estate [Line Items]
Single-family properties in operation, net	284,230	184,170
Single-family properties recently renovated or developed
Real Estate [Line Items]
Single-family properties in operation, net	160,481	126,379
Single-family properties newly acquired and under renovation
Real Estate [Line Items]
Single-family properties in operation, net	60,508	337,643
Single Family Homes
Real Estate [Line Items]
Total real estate assets, net	$ 11,218,584	$ 10,244,559

Real Estate Assets, Net - Narra

Real Estate Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Real Estate [Line Items]
Accrual for minor repair and remediation costs, gross charges	$ 8,400
Probable insurance claim recoveries	2,300		$ 2,300
Hurricane-related charges, net	6,133	$ 0	6,133	$ 0
Single Family Homes
Real Estate [Line Items]
Depreciation expense	$ 105,100	$ 90,600	$ 301,900	$ 264,300

Real Estate Assets, Net - Dispo

Real Estate Assets, Net - Dispositions of Single-Family Properties and Land (Details) - Single Family Homes $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) property	Sep. 30, 2021 USD ($) property	Sep. 30, 2022 USD ($) property	Sep. 30, 2021 USD ($) property
Single-family properties:
Properties sold | property	164	90	530	367
Net proceeds	$ 49,096	$ 26,683	$ 160,156	$ 100,815
Net gain on sale	24,501	10,073	82,193	36,845
Land:
Net proceeds	1,197	277	3,139	596
Net gain (loss) on sale	$ 70	$ 42	$ 496	$ (97)

Rent and Other Receivables - Ad

Rent and Other Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lessor, Lease, Description [Line Items]
Lease agreement term (in years)	1 year		1 year
Storm damage related insurance claims receivable	$ 2.3		$ 2.3		$ 1.9
Single Family Homes
Lessor, Lease, Description [Line Items]
Tenant chargebacks	62	$ 52.7	157.4	$ 136.5
Late fees and application fees	$ 7	$ 6	$ 20	$ 16.7

Rent and Other Receivables - Fu

Rent and Other Receivables - Future Minimum Rental Revenues (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Receivables [Abstract]
Remaining 2022	$ 287,284
2023	496,844
2024	27,539
2025	27
Total	$ 811,694

Escrow Deposits, Prepaid Expe_3

Escrow Deposits, Prepaid Expenses and Other Assets - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Consolidated land not owned	$ 103,942	$ 0
Escrow deposits, prepaid expenses and other	102,993	88,414
Commercial real estate, software, vehicles and FF&E, net	76,745	62,462
Operating lease right-of-use assets	18,815	17,269
Deferred costs and other intangibles, net	10,835	13,134
Notes receivable, net	2,459	35,346
Total	$ 315,789	$ 216,625

Escrow Deposits, Prepaid Expe_4

Escrow Deposits, Prepaid Expenses and Other Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Amortization expense related to deferred leasing costs, in-place leases, trademark and database	$ 0.7	$ 1	$ 2.2	$ 3.1
Revolving Credit Facility
Property, Plant and Equipment [Line Items]
Amortization of deferred financing costs	0.7	0.7	2.1	1.8
Commercial Real Estate, Vehicles, and Furniture, Fixtures, and Equipment
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 3.5	$ 2.9	$ 9.6	$ 8.3

Escrow Deposits, Prepaid Expe_5

Escrow Deposits, Prepaid Expenses and Other Assets - Components of Deferred Costs and Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing costs	$ 2,336	$ 3,090
Deferred financing costs	22,491	22,491
Deferred cost and intangible assets	24,827	25,581
Less: accumulated amortization	(13,992)	(12,447)
Total	$ 10,835	$ 13,134

Escrow Deposits, Prepaid Expe_6

Escrow Deposits, Prepaid Expenses and Other Assets - Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Total
Remaining 2022	$ 1,213
2023	3,386
2024	2,730
2025	2,722
2026	784
Total	10,835	$ 13,134
Deferred Leasing Costs
Deferred Leasing Costs
Remaining 2022	527
2023	664
2024	0
2025	0
2026	0
Deferred Leasing Costs	1,191
Deferred Financing Costs
Deferred Financing Costs
Remaining 2022	686
2023	2,722
2024	2,730
2025	2,722
2026	784
Deferred Financing Costs	$ 9,644

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Narrative (Details) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022 USD ($) joint_venture extension	Mar. 31, 2022 USD ($) extension property	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) joint_venture	Sep. 30, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_venture	3			3
Three Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20%			20%
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20%			20%
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20%			20%
Joint Venture | J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Maximum borrowing limit		$ 375
Non-recourse guarantee, term		three-year
Number of extension options | extension		1
Extension period		1 year
Maximum exposure	$ 204.2			$ 204.2
Joint Venture | Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Maximum borrowing limit	$ 250			250
Non-recourse guarantee, term	two-year
Number of extension options | extension	2
Extension period	1 year
Maximum exposure	$ 232.7			232.7
Joint Venture | SOFR | J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate		1.50%
Joint Venture | SOFR | Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2.40%
Institutional Investor JV Property Acquisition
Schedule of Equity Method Investments [Line Items]
Number of properties acquired | property		200
Total consideration		$ 74.6
Cash paid for asset acquisitions		66.2
Asset acquisition, consideration transferred, other assets		$ 8.4
Property management expenses | Joint Venture
Schedule of Equity Method Investments [Line Items]
Management fee income	$ 3.8		$ 2.8	$ 10.2	$ 7.4

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - JV Investments (Details) $ in Thousands	Sep. 30, 2022 USD ($) home	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Completed homes | home	2,271
Balances | $	$ 110,409	$ 121,950
Alaska JV
Schedule of Equity Method Investments [Line Items]
Percent ownership	20%
Completed homes | home	276
Balances | $	$ 19,394	22,658
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Percent ownership	20%
Completed homes | home	933
Balances | $	$ 15,271	28,695
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Percent ownership	20%
Completed homes | home	1,062
Balances | $	$ 75,744	$ 70,597

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 4,457,326,000		$ 4,457,326,000			$ 3,924,181,000
Unamortized discounts on unsecured senior notes	(36,877,000)		(36,877,000)			(15,561,000)
Deferred financing costs, net	(31,282,000)		(31,282,000)			(28,142,000)
Total debt per balance sheet	4,389,167,000		4,389,167,000			3,880,478,000
Amortization of financing costs			8,588,000	$ 6,290,000
Asset-backed securitizations, unsecured senior notes and term loan facility
Debt Instrument [Line Items]
Amortization of financing costs	1,800,000	$ 1,500,000	5,100,000	$ 4,500,000
Secured Debt
Debt Instrument [Line Items]
Total debt	$ 1,907,326,000		$ 1,907,326,000			1,924,181,000
Secured Debt | AH4R 2014-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.42%		4.42%
Total debt	$ 469,421,000		$ 469,421,000			473,594,000
Secured Debt | AH4R 2014-SFR3 securitization
Debt Instrument [Line Items]
Interest rate	4.40%		4.40%
Total debt	$ 484,389,000		$ 484,389,000			488,790,000
Secured Debt | AH4R 2015-SFR1 securitization
Debt Instrument [Line Items]
Interest rate	4.14%		4.14%
Total debt	$ 510,380,000		$ 510,380,000			514,868,000
Secured Debt | AH4R 2015-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.36%		4.36%
Total debt	$ 443,136,000		$ 443,136,000			446,929,000
Senior Notes | 2028 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	4.25%		4.25%
Effective interest rate	4.08%		4.08%
Total debt	$ 500,000,000		$ 500,000,000			500,000,000
Senior Notes | 2029 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	4.90%		4.90%
Total debt	$ 400,000,000		$ 400,000,000			400,000,000
Senior Notes | 2031 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	2.38%		2.38%
Effective interest rate	2.46%		2.46%
Total debt	$ 450,000,000		$ 450,000,000			450,000,000
Senior Notes | 2032 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	3.63%		3.63%		3.625%
Total debt	$ 600,000,000		$ 600,000,000		$ 600,000,000	0
Senior Notes | 2051 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	3.38%		3.38%
Total debt	$ 300,000,000		$ 300,000,000			300,000,000
Senior Notes | 2052 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	4.30%		4.30%		4.30%
Total debt	$ 300,000,000		$ 300,000,000		$ 300,000,000	0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	4.04%		4.04%
Total debt	$ 0		$ 0			350,000,000
Maximum borrowing capacity	1,250,000,000		1,250,000,000
Outstanding letters of credit	$ 2,700,000		$ 2,700,000			$ 1,600,000
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			0.90%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt		$ 4,457,326		$ 3,924,181
Proceeds from unsecured senior notes, net of discount		876,813	$ 737,195
Deferred financing costs, net		31,282		28,142
2032 unsecured senior notes, net
Debt Instrument [Line Items]
Redemption price (in percent)	100%
2032 unsecured senior notes, net | Senior Notes
Debt Instrument [Line Items]
Total debt	$ 600,000	$ 600,000		0
Interest rate	3.625%	3.63%
2052 unsecured senior notes, net
Debt Instrument [Line Items]
Redemption price (in percent)	100%
2052 unsecured senior notes, net | Senior Notes
Debt Instrument [Line Items]
Total debt	$ 300,000	$ 300,000		$ 0
Interest rate	4.30%	4.30%
The Notes | Senior Notes
Debt Instrument [Line Items]
Proceeds from unsecured senior notes, net of discount	$ 870,300
Underwriting fees	6,500
Unamortized discount	23,200
Deferred financing costs, net	$ 1,700

Debt - Maturities (Details)

Debt - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Remaining 2022	$ 5,179
2023	20,714
2024	951,097
2025	10,302
2026	10,302
Thereafter	3,459,732
Total debt	$ 4,457,326	$ 3,924,181

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Disclosure [Abstract]
Gross interest cost	$ 49,115	$ 40,161	$ 138,037	$ 108,459
Capitalized interest	(12,861)	(9,064)	(39,415)	(21,829)
Interest expense	$ 36,254	$ 31,097	$ 98,622	$ 86,630

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Components of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued property taxes	$ 152,439	$ 52,545
Resident security deposits	119,510	105,809
Accrued construction and maintenance liabilities	80,250	50,655
Liability for consolidated land not owned (see Note 6)	65,301	0
Accrued interest	33,966	33,332
Prepaid rent	32,121	31,190
Operating lease liabilities	20,377	18,723
Accounts payable	3,426	1,113
Other accrued liabilities	59,850	50,159
Total	$ 567,240	$ 343,526

Shareholders' Equity _ Partne_3

Shareholders' Equity / Partners' Capital - Common Stock Offerings (Details) - Class A common shares - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended		27 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022
Class of Stock [Line Items]
Offering cost			$ 200,000	$ 200,000
Public Stock Offering
Class of Stock [Line Items]
Number of shares sold (in shares)		23,000,000
Par value (in dollars per share)		$ 0.01
Public Stock Offering - Issued Directly By The Company
Class of Stock [Line Items]
Number of shares sold (in shares)		10,000,000
Proceeds from sale of stock		$ 375,800,000
Offering cost		$ 200,000
Public Stock Offering - Forward Sales Agreement
Class of Stock [Line Items]
Number of shares sold (in shares)	5,000,000	13,000,000
Proceeds from sale of stock	$ 185,600,000
Sale of stock, remaining shares available	8,000,000		8,000,000		8,000,000
Sale of stock, consideration receivable on transaction	$ 297,100,000		$ 297,100,000		$ 297,100,000
At the Market - Common Share Offering Program
Class of Stock [Line Items]
Shares authorized for future issuance, value	500,000,000		$ 500,000,000		$ 500,000,000
Shares issued (in shares)			0	0	1,835,416
Shares available for future issuance, value	$ 425,200,000		$ 425,200,000		$ 425,200,000

Shareholders' Equity _ Partne_4

Shareholders' Equity / Partners' Capital - Share Repurchase (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Class A common shares
Class of Stock [Line Items]
Repurchase of shares, authorized amount	$ 300
Remaining repurchase authorization	$ 265.1
Class A common shares | Common capital
Class of Stock [Line Items]
Repurchases of Class A common shares (in shares)	0	0
Preferred capital amount
Class of Stock [Line Items]
Repurchase of shares, authorized amount	$ 250
Remaining repurchase authorization	$ 250

Shareholders' Equity _ Partne_5

Shareholders' Equity / Partners' Capital - Participating Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			9 Months Ended
	May 05, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Preferred shares outstanding (in shares)		9,200,000			9,200,000		15,400,000
Current Liquidation Value		$ 230,000			$ 230,000		$ 385,000
Preferred shares, par value (in dollars per share)		$ 0.01			$ 0.01		$ 0.01
Redemption of perpetual preferred shares		$ 0		$ 0	$ 5,276	$ 15,879
Series F perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)	5.875%		5.875%		5.875%
Preferred shares outstanding (in shares)		0			0		6,200,000
Current Liquidation Value		$ 0			$ 0		$ 155,000
Preferred stock redeemed (in shares)			6,200,000
Preferred shares, par value (in dollars per share)			$ 0.01
Liquidation preference (in dollars per share)			$ 25
Series G perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)					5.875%
Preferred shares outstanding (in shares)		4,600,000			4,600,000		4,600,000
Current Liquidation Value		$ 115,000			$ 115,000		$ 115,000
Series H perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)					6.25%
Preferred shares outstanding (in shares)		4,600,000			4,600,000		4,600,000
Current Liquidation Value		$ 115,000			$ 115,000		$ 115,000

Shareholders' Equity _ Partne_6

Shareholders' Equity / Partners' Capital - Distributions (Details) - $ / shares				3 Months Ended						9 Months Ended
	May 05, 2022	Jun. 30, 2021	Jun. 07, 2021	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022
Class A common shares
Class of Stock [Line Items]
Common stock dividend declared (in dollars per share)				$ 0.18	$ 0.18	$ 0.18	$ 0.10	$ 0.10	$ 0.10
Class B common shares
Class of Stock [Line Items]
Common stock dividend declared (in dollars per share)				0.18	0.18	0.18	0.10	0.10	0.10
Series D perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)			6.50%							6.50%
Preferred shares, dividends declared (in dollars per share)				0	0	0	0	0.30	0.41
Series E perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)		6.35%								6.35%
Preferred shares, dividends declared (in dollars per share)				0	$ 0	0	0	0.40	0.40
Series F perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)	5.875%				5.875%					5.875%
Preferred shares, dividends declared (in dollars per share)				0	$ 0.14	0.37	0.37	0.37	0.37
Series G perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)										5.875%
Preferred shares, dividends declared (in dollars per share)				0.37	0.37	0.37	0.37	0.37	0.37
Series H perpetual preferred shares
Class of Stock [Line Items]
Preferred stock, dividend rate (in percent)										6.25%
Preferred shares, dividends declared (in dollars per share)				$ 0.39	$ 0.39	$ 0.39	$ 0.39	$ 0.39	$ 0.39

Shareholders' Equity _ Partne_7

Shareholders' Equity / Partners' Capital - Noncontrolling Interest (Details) - Class A Units - Operating Partnership - shares	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Operating partnership units (in shares)	404,821,515	389,374,771
American Residential Properties Inc.
Class of Stock [Line Items]
Percentage of units outstanding	0.20%	0.20%
Operating partnership units (in shares)	596,990	596,990
AH LLC
Class of Stock [Line Items]
Ownership units owned (in shares)	50,779,990	50,779,990
Percentage of units outstanding	12.50%	13%

Share-Based Compensation - 2021

Share-Based Compensation - 2021 Equity Incentive Plan and 2021 Employee Stock Purchase Plan (Details) - shares	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
2021 Equity Incentive Plan | Restricted share units | Non-Management Trustees
Class of Stock [Line Items]
Award vesting period	1 year	1 year
2021 Equity Incentive Plan | Restricted share units | Minimum | Employee
Class of Stock [Line Items]
Award vesting period	1 year	1 year
2021 Equity Incentive Plan | Restricted share units | Maximum | Employee
Class of Stock [Line Items]
Award vesting period	3 years	3 years
2021 Equity Incentive Plan | Performance Share Units (PSU's)
Class of Stock [Line Items]
Award vesting period	3 years	3 years
Service period	3 years	3 years
2021 Equity Incentive Plan | Performance Share Units (PSU's) | Minimum
Class of Stock [Line Items]
Percentage of units expected to vest (in percent)	0%
2021 Equity Incentive Plan | Performance Share Units (PSU's) | Maximum
Class of Stock [Line Items]
Percentage of units expected to vest (in percent)	200%
2021 Employee Stock Purchase Plan
Class of Stock [Line Items]
Purchase period			6 months
Purchase price of common stock			85%
2021 Employee Stock Purchase Plan | Class A common shares
Class of Stock [Line Items]
Number of shares available to grant (in shares)			3,000,000

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options Activity (Details) - Stock options - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Stock Options
Options outstanding at beginning of period (in shares)	824,300	1,090,300
Granted (in shares)	0	0
Exercised (in shares)	(63,750)	(259,000)
Forfeited (in shares)	0	0
Options outstanding at end of period (in shares)	760,550	831,300
Options exercisable at end of period (in shares)	755,550	793,800

Share-Based Compensation - RSU

Share-Based Compensation - RSU and PSU Activity (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Restricted share units
Number of Restricted Stock Units
Outstanding at beginning of period (in shares)	1,050,599	651,537
Awarded (in shares)	465,171	645,955
Vested (in shares)	(439,331)	(208,574)
Forfeited (in shares)	(37,045)	(28,239)
Outstanding at end of period (in shares)	1,039,394	1,060,679
Performance Share Units (PSU's)
Number of Restricted Stock Units
Outstanding at beginning of period (in shares)	92,319	0
Awarded (in shares)	202,104	92,319
Vested (in shares)	0	0
Forfeited (in shares)	0	0
Outstanding at end of period (in shares)	294,423	92,319

Share-Based Compensation - Nonc

Share-Based Compensation - Noncash Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class of Stock
Total noncash share-based compensation expense	$ 5,680	$ 3,058	$ 23,728	$ 14,319
General and administrative expense
Class of Stock
Total noncash share-based compensation expense	3,390	1,557	13,352	7,722
Property management expenses
Class of Stock
Total noncash share-based compensation expense	1,015	680	3,146	2,278
Acquisition and other transaction costs
Class of Stock
Total noncash share-based compensation expense	$ 1,275	$ 821	$ 7,230	$ 4,319

Earnings per Share _ Unit - Com

Earnings per Share / Unit - Computation of Earnings per Share (Details) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares
Numerator:
Net income	$ 61,665	$ 74,555	$ 70,014	$ 48,501	$ 51,814	$ 48,921	$ 206,234	$ 149,236
Less:
Noncontrolling interest	7,464			5,869			24,119	14,012
Dividends on preferred shares	3,486	4,346	5,763	5,763	12,615	13,782	13,595	32,160
Redemption of perpetual preferred shares	0			0			5,276	15,879
Allocation to participating securities	188			118			583	300
Numerator for income per common share–basic and diluted	$ 50,527			$ 36,751			$ 162,661	$ 86,885
Denominator:
Weighted-average common shares outstanding - basic (in shares) | shares	348,944,055			324,002,538			347,730,579	320,267,903
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contracts | shares	400,486			2,203,885			552,416	1,611,332
Weighted-average common shares outstanding - diluted (in shares) | shares	349,344,541			326,206,423			348,282,995	321,879,235
Net income per common share:
Basic (in dollars per share) | $ / shares	$ 0.14			$ 0.11			$ 0.47	$ 0.27
Diluted (in dollars per share) | $ / shares	$ 0.14			$ 0.11			$ 0.47	$ 0.27
Exchange rate							1
American Homes 4 Rent, L.P.
Numerator:
Net income	$ 61,665	$ 74,555	$ 70,014	$ 48,501	$ 51,814	$ 48,921	$ 206,234	$ 149,236
Less:
Dividends on preferred shares	3,486			5,763			13,595	32,160
Redemption of perpetual preferred shares	0			0			5,276	15,879
Allocation to participating securities	188			118			583	300
Numerator for income per common share–basic and diluted	$ 57,991			$ 42,620			$ 186,780	$ 100,897
Denominator:
Weighted-average common units outstanding - basic (in shares) | shares	400,321,035			375,379,518			399,107,559	371,739,755
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contracts | shares	400,486			2,203,885			552,416	1,611,332
Weighted-average common units outstanding - diluted (in shares) | shares	400,721,521			377,583,403			399,659,975	373,351,087
Net income per common share:
Basic (in dollars per share) | $ / shares	$ 0.14			$ 0.11			$ 0.47	$ 0.27
Diluted (in dollars per share) | $ / shares	$ 0.14			$ 0.11			$ 0.47	$ 0.27

Fair Value - Carrying Value and

Fair Value - Carrying Value and Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Carrying Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	$ 1,895,269	$ 1,908,346
Total unsecured senior notes, net	2,493,898	1,622,132
Revolving credit facility	0	350,000
Total debt	4,389,167	3,880,478
Carrying Value | AH4R 2014-SFR2 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	466,825	470,039
Carrying Value | AH4R 2014-SFR3 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	481,567	485,005
Carrying Value | AH4R 2015-SFR1 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	507,107	510,585
Carrying Value | AH4R 2015-SFR2 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	439,770	442,717
Carrying Value | 2028 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	495,759	495,166
Carrying Value | 2029 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	396,402	395,990
Carrying Value | 2031 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	440,873	440,095
Carrying Value | 2032 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	581,041	0
Carrying Value | 2051 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	291,112	290,881
Carrying Value | 2052 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	288,711	0
Fair Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	1,914,810	1,952,026
Total unsecured senior notes, net	2,079,368	1,766,149
Revolving credit facility	0	350,000
Total debt	3,994,178	4,068,175
Fair Value | AH4R 2014-SFR2 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	471,249	479,464
Fair Value | AH4R 2014-SFR3 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	486,365	495,659
Fair Value | AH4R 2015-SFR1 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	512,425	521,639
Fair Value | AH4R 2015-SFR2 securitization
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total asset-backed securitizations	444,771	455,264
Fair Value | 2028 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	461,625	554,895
Fair Value | 2029 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	375,716	463,840
Fair Value | 2031 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	340,875	442,953
Fair Value | 2032 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	492,774	0
Fair Value | 2051 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	188,400	304,461
Fair Value | 2052 unsecured senior notes, net
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total unsecured senior notes, net	$ 219,978	$ 0

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loss on settlement of cash flow hedging instrument	$ 0	$ 0			$ 0	$ 3,999
Treasury Lock | Designated as Hedging Instrument
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, notional amount				$ 400,000
Term of contract				10 years
Loss on settlement of cash flow hedging instrument			$ 4,000

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
American Homes 4 Rent, L.P.
Related Party Transaction [Line Items]
Amounts due from affiliates	$ 25,666	$ 25,666
Class A common shares
Related Party Transaction [Line Items]
Common stock outstanding (in shares)	352,809,460	337,362,716
Class B common shares
Related Party Transaction [Line Items]
Common stock outstanding (in shares)	635,075	635,075
Affiliated Entity
Related Party Transaction [Line Items]
Percent of shares held	23.90%	24.80%
Affiliated Entity | American Homes 4 Rent, L.P.
Related Party Transaction [Line Items]
Amounts due from affiliates	$ 25,700	$ 25,700
Affiliated Entity | Class A common shares
Related Party Transaction [Line Items]
Percent of shares held	12.90%	13.50%
Common stock outstanding (in shares)	50,622,165	50,622,165
Affiliated Entity | Class B common shares
Related Party Transaction [Line Items]
Common stock outstanding (in shares)	635,075	635,075

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) property lot
Purchase Commitment [Line Items]
Single-family properties sales in escrow | property	140
Land lot sales in escrow | lot	275
Single-family properties sales in escrow, selling price	$ 57.4
Surety bond
Purchase Commitment [Line Items]
Outstanding principal on non-recourse guarantee	167.2
Single Family Properties
Purchase Commitment [Line Items]
Purchase price of commitment to acquire single-family properties	27.6
Land
Purchase Commitment [Line Items]
Purchase price of commitment to acquire single-family properties	$ 453.1
Commitment To Acquire Properties
Purchase Commitment [Line Items]
Number of properties | property	102

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Millions	1 Months Ended
	Oct. 31, 2022 USD ($) property
Subsequent Event [Line Items]
Number of properties acquired	154
Cash paid for deposits on land option contracts | $	$ 54.2
Number of internally developed properties developed	121
Number of properties acquired from third party developers	19
Number of real estate properties sold	92
Proceeds from sale of real estate | $	$ 27.3