American Homes 4 Rent 10-K 25 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 23, 2022	Jun. 30, 2021
Document Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
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	23975 Park Sorrento
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Calabasas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91302
City Area Code	805
Local Phone Number	413-5300
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 10.8
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of the Definitive Proxy Statement for our 2022 Annual Meeting of Shareholders are incorporated by reference into Part III of this report. We expect to file our proxy statement within 120 days after December 31, 2021.
Entity Central Index Key	0001562401
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Shares/Units
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		347,617,562
Class B common shares
Document Information
Entity Common Stock, Shares Outstanding		635,075
Series F perpetual preferred shares
Document Information
Title of 12(b) Security	Series F perpetual preferred shares of beneficial interest, $.01 par value
Trading Symbol	AMH-F
Security Exchange Name	NYSE
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
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Central Index Key	0001716558
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California
American Homes 4 Rent, L.P.
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Single-family properties:
Land	$ 2,062,039	$ 1,836,798
Buildings and improvements	9,258,387	8,163,023
Single-family properties in operation	11,320,426	9,999,821
Less: accumulated depreciation	(2,072,933)	(1,754,433)
Net Book Value	9,247,493	8,245,388
Single-family properties under development and development land	882,159	510,365
Single-family properties held for sale, net	114,907	129,026
Total real estate assets, net	10,244,559	8,884,779
Cash and cash equivalents	48,198	137,060
Restricted cash	143,569	128,017
Rent and other receivables	41,587	41,544
Escrow deposits, prepaid expenses and other assets	216,625	163,171
Investments in unconsolidated joint ventures	121,950	93,109
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	10,962,433	9,593,625
Liabilities
Revolving credit facility	350,000	0
Asset-backed securitizations, net	1,908,346	1,927,607
Unsecured senior notes, net	1,622,132	889,805
Accounts payable and accrued expenses	343,526	298,949
Amounts payable to affiliates	0	4,834
Total liabilities	4,224,004	3,121,195
Commitments and contingencies (see Note 14)
Shareholders' equity:
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 15,400,000 and 35,350,000 shares issued and outstanding at December 31, 2021 and 2020, respectively)	154	354
Additional paid-in capital	6,492,933	6,223,256
Accumulated deficit	(438,710)	(443,522)
Accumulated other comprehensive income	1,814	5,840
Total shareholders' equity	6,059,571	5,789,094
Noncontrolling interest	678,858	683,336
Total equity	6,738,429	6,472,430
Total liabilities and equity/capital	10,962,433	9,593,625
Class A Common Shares/Units
Shareholders' equity:
Common stock, value, issued	3,374	3,160
Class B common shares
Shareholders' equity:
Common stock, value, issued	$ 6	$ 6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred shares, shares issued (in shares)	15,400,000	35,350,000
Preferred shares, shares outstanding (in shares)	15,400,000	35,350,000
Class A Common Shares/Units
Common shares, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	337,362,716	316,021,385
Common stock, shares outstanding (in shares)	337,362,716	316,021,385
Class B common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	635,075	635,075
Common stock, shares outstanding (in shares)	635,075	635,075

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expenses:
General and administrative expense	$ 56,444	$ 48,517	$ 43,206
Interest expense	114,893	117,038	127,114
Acquisition and other transaction costs	15,749	9,298	3,224
Depreciation and amortization	372,848	343,153	329,293
Total expenses	1,147,004	1,058,165	1,023,599
Gain on sale and impairment of single-family properties and other, net	49,696	38,773	40,210
Loss on early extinguishment of debt	0	0	(659)
Other income and expense, net	3,985	1,707	8,171
Net income	210,559	154,829	156,260
Noncontrolling interest	21,467	14,455	15,221
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Net income attributable to common shareholders	$ 135,290	$ 85,246	$ 85,911
Weighted-average common shares outstanding:
Basic (in shares)	324,245,168	306,613,197	299,415,397
Diluted (in shares)	325,518,291	307,074,747	299,918,966
Net income attributable to common shareholders per share:
Basic (in dollars per share)	$ 0.42	$ 0.28	$ 0.29
Diluted (in dollars per share)	$ 0.41	$ 0.28	$ 0.29
Rents and other single-family property revenues
Rents and other single-family property revenues	$ 1,303,882	$ 1,172,514	$ 1,132,137
Property operating expenses
Expenses:
Property operating and management expenses	490,205	450,267	433,854
Property management expenses
Expenses:
Property operating and management expenses	$ 96,865	$ 89,892	$ 86,908

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 210,559	$ 154,829	$ 156,260
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	(3,999)	0	0
Reclassification adjustment for amortization of interest expense included in net income	(771)	(963)	(963)
Other comprehensive loss	(4,770)	(963)	(963)
Comprehensive income	205,789	153,866	155,297
Comprehensive income attributable to noncontrolling interests	20,730	14,315	15,073
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Comprehensive income attributable to common shareholders	$ 131,257	$ 84,423	$ 85,096

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A common shares	Series D perpetual preferred shares	Series E perpetual preferred shares	Shareholders’ equity	Shareholders’ equityCumulative Effect, Period of Adoption, Adjustment	Shareholders’ equityClass A common shares	Shareholders’ equitySeries D perpetual preferred shares	Shareholders’ equitySeries E perpetual preferred shares	Common StockClass A common shares	Common StockClass B common shares	Preferred shares	Preferred sharesSeries D perpetual preferred shares	Preferred sharesSeries E perpetual preferred shares	Additional paid-in capital	Additional paid-in capitalClass A common shares	Additional paid-in capitalSeries D perpetual preferred shares	Additional paid-in capitalSeries E perpetual preferred shares	Accumulated deficit	Accumulated deficitCumulative Effect, Period of Adoption, Adjustment	Accumulated deficitSeries D perpetual preferred shares	Accumulated deficitSeries E perpetual preferred shares	Accumulated other comprehensive income	Accumulated other comprehensive incomeClass A common shares	Noncontrolling interest	Noncontrolling interestClass A common shares
Beginning balances (in shares) at Dec. 31, 2018											296,014,546	635,075	35,350,000
Beginning balances at Dec. 31, 2018	$ 5,973,742					$ 5,251,965					$ 2,960	$ 6	$ 354			$ 5,732,466				$ (491,214)				$ 7,393		$ 721,777
Increase (Decrease) in Stockholders' Equity
Share-based compensation	4,808					4,808										4,808
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											803,207
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	10,690					10,690					$ 8					10,682
Redemptions of shares/units (in shares)											3,289,846
Redemptions of shares/units			$ 0					$ 42,932			$ 33						$ 42,819								$ 80		$ (42,932)
Distributions to equity holders:
Preferred shares (Note 9)	(55,128)					(55,128)														(55,128)
Noncontrolling interests	(10,554)																									(10,554)
Common shares	(60,065)					(60,065)														(60,065)
Net income	156,260					141,039														141,039						15,221
Total other comprehensive loss	(963)					(815)																		(815)		(148)
Ending balances (in shares) at Dec. 31, 2019											300,107,599	635,075	35,350,000
Ending balances at Dec. 31, 2019	$ 6,018,790	$ (1,494)				5,335,426	$ (1,494)				$ 3,001	$ 6	$ 354			5,790,775				(465,368)	$ (1,494)			6,658		683,364
Distributions to equity holders:
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Share-based compensation	$ 9,834					9,834										9,834
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											577,656
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	5,360					5,360					$ 6					5,354
Issuance of Class A common shares and units (in shares)											15,036,130
Issuance of Class A common shares and units			413,500					413,500			$ 150						413,350
Redemptions of shares/units (in shares)											300,000
Redemptions of shares/units			0					3,951			$ 3						3,943								5		(3,951)
Preferred shares (Note 9)	(55,128)					(55,128)														(55,128)
Noncontrolling interests	(10,392)																									(10,392)
Common shares	(61,906)					(61,906)														(61,906)
Net income	154,829					140,374														140,374						14,455
Total other comprehensive loss	(963)					(823)																		(823)		(140)
Ending balances (in shares) at Dec. 31, 2020											316,021,385	635,075	35,350,000
Ending 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	17,792					17,792										17,792
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)											497,045
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	1,543					1,543					$ 5					1,538
Issuance of Class A common shares and units (in shares)											20,494,286
Issuance of Class A common shares and units			728,610					728,610			$ 205						728,405
Redemptions of shares/units (in shares)											350,000			10,750,000	9,200,000
Redemptions of shares/units			$ 0	$ (268,750)	$ (230,000)			$ 4,624	$ (268,750)	$ (230,000)	$ 4			$ (108)	$ (92)		$ 4,613	$ (260,133)	$ (222,538)			$ (8,509)	$ (7,370)		$ 7		$ (4,624)
Distributions to equity holders:
Preferred shares (Note 9)	(37,923)					(37,923)														(37,923)
Noncontrolling interests	(20,584)																									(20,584)
Common shares	(130,478)					(130,478)														(130,478)
Net income	210,559					189,092														189,092						21,467
Total other comprehensive loss	(4,770)					(4,033)																		(4,033)		(737)
Ending balances (in shares) at Dec. 31, 2021											337,362,716	635,075	15,400,000
Ending balances at Dec. 31, 2021	$ 6,738,429					$ 6,059,571					$ 3,374	$ 6	$ 154			$ 6,492,933				$ (438,710)				$ 1,814		$ 678,858

Consolidated Statement of Equit

Consolidated Statement of Equity (Parenthetical) - Common Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividends declared on common shares (in dollars per unit)	$ 0.40	$ 0.20	$ 0.20
Class A Common Shares/Units
Stock offering costs	$ 200	$ 600

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 210,559	$ 154,829	$ 156,260
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	372,848	343,153	329,293
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,790	7,431	7,457
Noncash share-based compensation	17,792	9,834	4,808
Loss on early extinguishment of debt	0	0	659
Equity in net (income) losses of unconsolidated joint ventures	(1,610)	774	(509)
Gain on sale and impairment of single-family properties and other, net	(49,696)	(38,773)	(40,210)
Other changes in operating assets and liabilities:
Rent and other receivables	(4,885)	(15,633)	(2,784)
Prepaid expenses and other assets	465	2,652	(10,170)
Deferred leasing costs	(3,422)	(4,070)	(4,095)
Accounts payable and accrued expenses	44,512	14,193	17,408
Amounts due from related parties	(153)	(290)	(230)
Net cash provided by operating activities	595,200	474,100	457,887
Investing activities
Cash paid for single-family properties	(850,071)	(269,273)	(120,487)
Change in escrow deposits for purchase of single-family properties	(33,005)	(374)	(7,171)
Net proceeds received from sales of single-family properties and other	132,072	228,566	221,930
Proceeds received from hurricane-related insurance claims	4,842	3,705	2,171
Payments received on notes for sale of properties	1,253	0	0
Investment in unconsolidated joint ventures	(29,260)	(29,834)	(13,114)
Distributions from joint ventures	57,550	129,007	22,561
Renovations to single-family properties	(47,681)	(16,968)	(21,883)
Recurring and other capital expenditures for single-family properties	(122,551)	(104,819)	(71,481)
Cash paid for development activity	(824,247)	(564,241)	(383,271)
Other purchases of productive assets	(22,367)	(18,694)	(6,121)
Net cash used for investing activities	(1,733,465)	(642,925)	(376,866)
Financing activities
Redemption of perpetual preferred shares	(498,750)	0	0
Proceeds from exercise of stock options	4,225	7,011	11,524
Payments related to tax withholding for share-based compensation	(2,682)	(1,651)	(834)
Payments on asset-backed securitizations	(24,311)	(22,501)	(21,517)
Proceeds from unsecured senior notes, net of discount	737,195	0	397,944
Settlement of cash flow hedging instrument	(3,999)	0	0
Distributions to noncontrolling interests	(23,170)	(10,381)	(10,701)
Distributions to common shareholders	(146,243)	(61,067)	(59,832)
Distributions to preferred shareholders	(37,923)	(55,128)	(55,128)
Deferred financing costs paid	(17,997)	0	(3,572)
Net cash provided by (used for) financing activities	1,064,955	269,783	(92,116)
Net (decrease) increase in cash, cash equivalents and restricted cash	(73,310)	100,958	(11,095)
Cash, cash equivalents and restricted cash, beginning of period	265,077	164,119	175,214
Cash, cash equivalents and restricted cash, end of period	191,767	265,077	164,119
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(95,790)	(109,679)	(112,980)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	45,392	36,544	18,276
Transfers of completed homebuilding deliveries to properties	395,937	322,024	167,652
Property and land contributions to unconsolidated joint ventures	(57,203)	(132,439)	(20,448)
Note receivable related to a bulk sale of properties, net of discount	0	0	29,474
Noncash right-of-use assets obtained in exchange for operating lease liabilities	1,346	17,105	6,089
Accrued distributions to affiliates	0	4,834	4,629
Accrued distributions to non-affiliates	0	13,612	13,024
Term loan facility, net
Financing activities
Payments on credit facility	0	0	(100,000)
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	1,410,000	130,000	0
Payments on credit facility	(1,060,000)	(130,000)	(250,000)
Class A Common Shares/Units
Financing activities
Proceeds from issuance of Class A common shares	728,810	414,100	0
Payments of Class A common share issuance costs	$ (200)	$ (600)	$ 0

Consolidated Balance Sheets_2

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Single-family properties:
Land	$ 2,062,039	$ 1,836,798
Buildings and improvements	9,258,387	8,163,023
Single-family properties in operation	11,320,426	9,999,821
Less: accumulated depreciation	(2,072,933)	(1,754,433)
Single-family properties in operation, net	9,247,493	8,245,388
Single-family properties under development and development land	882,159	510,365
Single-family properties held for sale, net	114,907	129,026
Total real estate assets, net	10,244,559	8,884,779
Cash and cash equivalents	48,198	137,060
Restricted cash	143,569	128,017
Rent and other receivables	41,587	41,544
Escrow deposits, prepaid expenses and other assets	216,625	163,171
Investments in unconsolidated joint ventures	121,950	93,109
Goodwill	120,279	120,279
Total assets	10,962,433	9,593,625
Liabilities
Revolving credit facility	350,000	0
Asset-backed securitizations, net	1,908,346	1,927,607
Unsecured senior notes, net	1,622,132	889,805
Accounts payable and accrued expenses	343,526	298,949
Amounts payable to affiliates	0	4,834
Total liabilities	4,224,004	3,121,195
Commitments and contingencies (see Note 14)
Limited partner:
Accumulated other comprehensive income	1,814	5,840
Total liabilities and equity/capital	10,962,433	9,593,625
American Homes 4 Rent, L.P.
Single-family properties:
Land	2,062,039	1,836,798
Buildings and improvements	9,258,387	8,163,023
Single-family properties in operation	11,320,426	9,999,821
Less: accumulated depreciation	(2,072,933)	(1,754,433)
Single-family properties in operation, net	9,247,493	8,245,388
Single-family properties under development and development land	882,159	510,365
Single-family properties held for sale, net	114,907	129,026
Total real estate assets, net	10,244,559	8,884,779
Cash and cash equivalents	48,198	137,060
Restricted cash	143,569	128,017
Rent and other receivables	41,587	41,544
Escrow deposits, prepaid expenses and other assets	216,625	163,171
Investments in unconsolidated joint ventures	121,950	93,109
Amounts due from affiliates	25,666	25,666
Goodwill	120,279	120,279
Total assets	10,962,433	9,593,625
Liabilities
Revolving credit facility	350,000	0
Asset-backed securitizations, net	1,908,346	1,927,607
Unsecured senior notes, net	1,622,132	889,805
Accounts payable and accrued expenses	343,526	298,949
Amounts payable to affiliates	0	4,834
Total liabilities	4,224,004	3,121,195
Commitments and contingencies (see Note 14)
Limited partner:
Accumulated other comprehensive income	2,090	6,860
Total capital	6,738,429	6,472,430
Total liabilities and equity/capital	10,962,433	9,593,625
American Homes 4 Rent, L.P. | Common Units
General partner:
General partner, capital account	5,686,193	4,928,819
Limited partner:
Limited partners, capital account	678,582	682,316
American Homes 4 Rent, L.P. | Preferred Shares/Units
General partner:
General partner, capital account	$ 371,564	$ 854,435

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Parenthetical) - American Homes 4 Rent, L.P. - shares	Dec. 31, 2021	Dec. 31, 2020
General Partner
Common units, shares/units issued (in shares)	337,997,791	316,656,460
Common units, shares/units outstanding (in shares)	337,997,791	316,656,460
Preferred units, shares/units issued (in shares)	15,400,000	35,350,000
Preferred units, shares/units outstanding (in shares)	15,400,000	35,350,000
Limited Partners
Common units, shares/units issued (in shares)	51,376,980	51,726,980
Common units, shares/units outstanding (in shares)	51,376,980	51,726,980

Consolidated Statements of Op_2

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expenses:
General and administrative expense	$ 56,444	$ 48,517	$ 43,206
Interest expense	114,893	117,038	127,114
Acquisition and other transaction costs	15,749	9,298	3,224
Depreciation and amortization	372,848	343,153	329,293
Total expenses	1,147,004	1,058,165	1,023,599
Gain on sale and impairment of single-family properties and other, net	49,696	38,773	40,210
Loss on early extinguishment of debt	0	0	(659)
Other income and expense, net	3,985	1,707	8,171
Net income	210,559	154,829	156,260
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Net (loss) income attributable to common shareholders/unitholders	135,290	85,246	85,911
Rents and other single-family property revenues
Rents and other single-family property revenues	1,303,882	1,172,514	1,132,137
Property operating expenses
Expenses:
Property operating and management expenses	490,205	450,267	433,854
Property management expenses
Expenses:
Property operating and management expenses	96,865	89,892	86,908
American Homes 4 Rent, L.P.
Expenses:
General and administrative expense	56,444	48,517	43,206
Interest expense	114,893	117,038	127,114
Acquisition and other transaction costs	15,749	9,298	3,224
Depreciation and amortization	372,848	343,153	329,293
Total expenses	1,147,004	1,058,165	1,023,599
Gain on sale and impairment of single-family properties and other, net	49,696	38,773	40,210
Loss on early extinguishment of debt	0	0	(659)
Other income and expense, net	3,985	1,707	8,171
Net income	210,559	154,829	156,260
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Net (loss) income attributable to common shareholders/unitholders	$ 156,757	$ 99,701	$ 101,132
Weighted-average common shares outstanding:
Basic (in shares)	375,693,107	358,603,291	352,460,401
Diluted (in shares)	376,966,230	359,064,841	352,963,970
Net income attributable to common shareholders per share:
Basic (in dollars per share)	$ 0.42	$ 0.28	$ 0.29
Diluted (in dollars per share)	$ 0.41	$ 0.28	$ 0.29
American Homes 4 Rent, L.P. | Rents and other single-family property revenues
Rents and other single-family property revenues	$ 1,303,882	$ 1,172,514	$ 1,132,137
American Homes 4 Rent, L.P. | Property operating expenses
Expenses:
Property operating and management expenses	490,205	450,267	433,854
American Homes 4 Rent, L.P. | Property management expenses
Expenses:
Property operating and management expenses	$ 96,865	$ 89,892	$ 86,908

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 210,559	$ 154,829	$ 156,260
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	(3,999)	0	0
Reclassification adjustment for amortization of interest expense included in net income	(771)	(963)	(963)
Total other comprehensive loss	(4,770)	(963)	(963)
Comprehensive income	205,789	153,866	155,297
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Comprehensive income attributable to common shareholders	131,257	84,423	85,096
American Homes 4 Rent, L.P.
Net income	210,559	154,829	156,260
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	(3,999)	0	0
Reclassification adjustment for amortization of interest expense included in net income	(771)	(963)	(963)
Total other comprehensive loss	(4,770)	(963)	(963)
Comprehensive income	205,789	153,866	155,297
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Comprehensive income attributable to common shareholders	$ 151,987	$ 98,738	$ 100,169

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Capital
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 1,543	$ 5,360	$ 10,690
Distributions to capital holders:
Net income	210,559	154,829	156,260
Total other comprehensive income (loss)	(4,770)	(963)	$ (963)
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2016-13 [Member]
American Homes 4 Rent, L.P.
Increase (Decrease) in Capital
Beginning balance, total capital	6,472,430	6,018,790	$ 5,973,742
Share-based compensation	17,792	9,834	4,808
Common units issued under share-based compensation plans, net of units withheld for employee taxes	1,543	5,360	10,690
Distributions to capital holders:
Preferred units	(37,923)	(55,128)	(55,128)
Common units	(151,062)	(72,298)	(70,619)
Net income	210,559	154,829	156,260
Total other comprehensive income (loss)	(4,770)	(963)	(963)
Ending balance, total capital	6,738,429	6,472,430	$ 6,018,790
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2016-13 [Member]
American Homes 4 Rent, L.P. | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Capital
Beginning balance, total capital		(1,494)
Distributions to capital holders:
Ending balance, total capital			$ (1,494)
American Homes 4 Rent, L.P. | Class A Common Shares/Units
Increase (Decrease) in Capital
Issuance of Class A units	728,610	413,500
Redemptions of units	0	0	0
American Homes 4 Rent, L.P. | Series D perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	(268,750)
American Homes 4 Rent, L.P. | Series E perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	(230,000)
American Homes 4 Rent, L.P. | Accumulated other comprehensive income (loss)
Increase (Decrease) in Capital
Beginning balance, total capital	6,860	7,823	8,786
Distributions to capital holders:
Total other comprehensive income (loss)	(4,770)	(963)	(963)
Ending balance, total capital	2,090	$ 6,860	$ 7,823
American Homes 4 Rent, L.P. | Accumulated other comprehensive income (loss) | Series D perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	0
American Homes 4 Rent, L.P. | Accumulated other comprehensive income (loss) | Series E perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	$ 0
American Homes 4 Rent, L.P. | General Partner | Common Units
Increase (Decrease) in Capital
Beginning balance (in shares)	316,656,460	300,742,674	296,649,621
Beginning balance, total capital	$ 4,928,819	$ 4,474,333	$ 4,390,137
Share-based compensation	$ 17,792	$ 9,834	$ 4,808
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)	497,045	577,656	803,207
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 1,543	$ 5,360	$ 10,690
Distributions to capital holders:
Common units	(130,478)	(61,906)	(60,065)
Net income	$ 151,169	$ 85,246	$ 85,911
Ending balance (in shares)	337,997,791	316,656,460	300,742,674
Ending balance, total capital	$ 5,686,193	$ 4,928,819	$ 4,474,333
American Homes 4 Rent, L.P. | General Partner | Common Units | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Capital
Beginning balance, total capital		$ (1,494)
Distributions to capital holders:
Ending balance, total capital			$ (1,494)
American Homes 4 Rent, L.P. | General Partner | Common Units | Class A Common Shares/Units
Increase (Decrease) in Capital
Issuance of Class A units (in shares)	20,494,286	15,036,130
Issuance of Class A units	$ 728,610	$ 413,500
Redemptions of units (in shares)	350,000	300,000	3,289,846
Redemptions of units	$ 4,617	$ 3,946	$ 42,852
American Homes 4 Rent, L.P. | General Partner | Common Units | Series D perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	(8,509)
American Homes 4 Rent, L.P. | General Partner | Common Units | Series E perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	(7,370)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units
Increase (Decrease) in Capital
Beginning balance, total capital	854,435	854,435	854,435
Distributions to capital holders:
Preferred units	(37,923)	(55,128)	(55,128)
Net income	37,923	55,128	55,128
Ending balance, total capital	371,564	$ 854,435	$ 854,435
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series D perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	(260,241)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series E perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units	$ (222,630)
American Homes 4 Rent, L.P. | Limited Partners | Common Units
Increase (Decrease) in Capital
Beginning balance (in shares)	51,726,980	52,026,980	55,316,826
Beginning balance, total capital	$ 682,316	$ 682,199	$ 720,384
Distributions to capital holders:
Common units	(20,584)	(10,392)	(10,554)
Net income	$ 21,467	$ 14,455	$ 15,221
Ending balance (in shares)	51,376,980	51,726,980	52,026,980
Ending balance, total capital	$ 678,582	$ 682,316	$ 682,199
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Class A Common Shares/Units
Increase (Decrease) in Capital
Redemptions of units (in shares)	(350,000)	300,000	3,289,846
Redemptions of units	$ (4,617)	$ (3,946)	$ (42,852)
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Series D perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units (in shares)	0
Redemptions of units	$ 0
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Series E perpetual preferred shares
Increase (Decrease) in Capital
Redemptions of units (in shares)	0
Redemptions of units	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
American Homes 4 Rent, L.P.
Stock offering costs	$ 200	$ 600

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 210,559	$ 154,829	$ 156,260
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	372,848	343,153	329,293
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,790	7,431	7,457
Noncash share-based compensation	17,792	9,834	4,808
Loss on early extinguishment of debt	0	0	659
Equity in net (income) losses of unconsolidated joint ventures	(1,610)	774	(509)
Gain on sale and impairment of single-family properties and other, net	(49,696)	(38,773)	(40,210)
Other changes in operating assets and liabilities:
Rent and other receivables	(4,885)	(15,633)	(2,784)
Prepaid expenses and other assets	465	2,652	(10,170)
Deferred leasing costs	(3,422)	(4,070)	(4,095)
Accounts payable and accrued expenses	44,512	14,193	17,408
Amounts due from related parties	(153)	(290)	(230)
Net cash provided by operating activities	595,200	474,100	457,887
Investing activities
Cash paid for single-family properties	(850,071)	(269,273)	(120,487)
Change in escrow deposits for purchase of single-family properties	(33,005)	(374)	(7,171)
Net proceeds received from sales of single-family properties and other	132,072	228,566	221,930
Proceeds received from hurricane-related insurance claims	4,842	3,705	2,171
Payments received on notes for sale of properties	1,253	0	0
Investment in unconsolidated joint ventures	(29,260)	(29,834)	(13,114)
Distributions from joint ventures	57,550	129,007	22,561
Renovations to single-family properties	(47,681)	(16,968)	(21,883)
Recurring and other capital expenditures for single-family properties	(122,551)	(104,819)	(71,481)
Cash paid for development activity	(824,247)	(564,241)	(383,271)
Other purchases of productive assets	(22,367)	(18,694)	(6,121)
Net cash used for investing activities	(1,733,465)	(642,925)	(376,866)
Financing activities
Redemption of perpetual preferred shares	(498,750)	0	0
Proceeds from exercise of stock options	4,225	7,011	11,524
Payments related to tax withholding for share-based compensation	(2,682)	(1,651)	(834)
Payments on asset-backed securitizations	(24,311)	(22,501)	(21,517)
Proceeds from unsecured senior notes, net of discount	737,195	0	397,944
Settlement of cash flow hedging instrument	(3,999)	0	0
Distributions to common shareholders	(146,243)	(61,067)	(59,832)
Distributions to preferred shareholders	(37,923)	(55,128)	(55,128)
Deferred financing costs paid	(17,997)	0	(3,572)
Net cash provided by (used for) financing activities	1,064,955	269,783	(92,116)
Net (decrease) increase in cash, cash equivalents and restricted cash	(73,310)	100,958	(11,095)
Cash, cash equivalents and restricted cash, beginning of period	265,077	164,119	175,214
Cash, cash equivalents and restricted cash, end of period	191,767	265,077	164,119
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(95,790)	(109,679)	(112,980)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	45,392	36,544	18,276
Transfers of completed homebuilding deliveries to properties	395,937	322,024	167,652
Property and land contributions to unconsolidated joint ventures	(57,203)	(132,439)	(20,448)
Note receivable related to a bulk sale of properties, net of discount	0	0	29,474
Noncash right-of-use assets obtained in exchange for operating lease liabilities	1,346	17,105	6,089
Accrued distributions to affiliates	0	4,834	4,629
Accrued distributions to non-affiliates	0	13,612	13,024
American Homes 4 Rent, L.P.
Operating activities
Net income	210,559	154,829	156,260
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	372,848	343,153	329,293
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	8,790	7,431	7,457
Noncash share-based compensation	17,792	9,834	4,808
Loss on early extinguishment of debt	0	0	659
Equity in net (income) losses of unconsolidated joint ventures	(1,610)	774	(509)
Gain on sale and impairment of single-family properties and other, net	(49,696)	(38,773)	(40,210)
Other changes in operating assets and liabilities:
Rent and other receivables	(4,885)	(15,633)	(2,784)
Prepaid expenses and other assets	465	2,652	(10,170)
Deferred leasing costs	(3,422)	(4,070)	(4,095)
Accounts payable and accrued expenses	44,512	14,193	17,408
Amounts due from related parties	(153)	(290)	(230)
Net cash provided by operating activities	595,200	474,100	457,887
Investing activities
Cash paid for single-family properties	(850,071)	(269,273)	(120,487)
Change in escrow deposits for purchase of single-family properties	(33,005)	(374)	(7,171)
Net proceeds received from sales of single-family properties and other	132,072	228,566	221,930
Proceeds received from hurricane-related insurance claims	4,842	3,705	2,171
Payments received on notes for sale of properties	1,253	0	0
Investment in unconsolidated joint ventures	(29,260)	(29,834)	(13,114)
Distributions from joint ventures	57,550	129,007	22,561
Renovations to single-family properties	(47,681)	(16,968)	(21,883)
Recurring and other capital expenditures for single-family properties	(122,551)	(104,819)	(71,481)
Cash paid for development activity	(824,247)	(564,241)	(383,271)
Other purchases of productive assets	(22,367)	(18,694)	(6,121)
Net cash used for investing activities	(1,733,465)	(642,925)	(376,866)
Financing activities
Redemption of perpetual preferred shares	(498,750)	0	0
Proceeds from exercise of stock options	4,225	7,011	11,524
Payments related to tax withholding for share-based compensation	(2,682)	(1,651)	(834)
Payments on asset-backed securitizations	(24,311)	(22,501)	(21,517)
Proceeds from unsecured senior notes, net of discount	737,195	0	397,944
Settlement of cash flow hedging instrument	(3,999)	0	0
Distributions to common shareholders	(169,413)	(71,448)	(70,533)
Distributions to preferred shareholders	(37,923)	(55,128)	(55,128)
Deferred financing costs paid	(17,997)	0	(3,572)
Net cash provided by (used for) financing activities	1,064,955	269,783	(92,116)
Net (decrease) increase in cash, cash equivalents and restricted cash	(73,310)	100,958	(11,095)
Cash, cash equivalents and restricted cash, beginning of period	265,077	164,119	175,214
Cash, cash equivalents and restricted cash, end of period	191,767	265,077	164,119
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(95,790)	(109,679)	(112,980)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	45,392	36,544	18,276
Transfers of completed homebuilding deliveries to properties	395,937	322,024	167,652
Property and land contributions to unconsolidated joint ventures	(57,203)	(132,439)	(20,448)
Note receivable related to a bulk sale of properties, net of discount	0	0	29,474
Noncash right-of-use assets obtained in exchange for operating lease liabilities	1,346	17,105	6,089
Accrued distributions to affiliates	0	4,834	4,629
Accrued distributions to non-affiliates	0	13,612	13,024
Term loan facility, net
Financing activities
Payments on credit facility	0	0	(100,000)
Term loan facility, net | American Homes 4 Rent, L.P.
Financing activities
Payments on credit facility	0	0	(100,000)
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	1,410,000	130,000	0
Payments on credit facility	(1,060,000)	(130,000)	(250,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.
Financing activities
Proceeds from revolving credit facility	1,410,000	130,000	0
Payments on credit facility	(1,060,000)	(130,000)	(250,000)
Class A Common Shares/Units
Financing activities
Proceeds from issuance of Class A common shares	728,810	414,100	0
Payments of Class A common share issuance costs	(200)	(600)	0
Class A Common Shares/Units | American Homes 4 Rent, L.P.
Financing activities
Proceeds from issuance of Class A common shares	728,810	414,100	0
Payments of Class A common share issuance costs	$ (200)	$ (600)	$ 0

Organization and Operations

Organization and Operations	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021, the Company held 57,024 single-family properties in 22 states, including 659 properties classified as held for sale.    AH4R is the general partner of, and as of December 31, 2021 owned approximately 86.8% of the common partnership interest in, the Operating Partnership. The remaining 13.2% 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	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The consolidated financial statements of the Company include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The consolidated financial statements of the Operating Partnership include the accounts of the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates VIEs in accordance with Accounting Standards Codification (“ASC”) No. 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the consolidated balance sheets. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made. During the year ended December 31, 2021, the Company reclassified certain impairment charges related to homes classified as held for sale from other expenses to gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations. The Company also reclassified other revenues and the remaining other expenses to other income and expense, net within the consolidated statements of operations. Certain other amounts in the consolidated financial statements for the prior periods have also been reclassified to conform to the current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes AH4R has elected to be taxed as a REIT for U.S. federal income tax purposes under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains), we generally will not be subject to U.S. federal income tax. Qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Certain of our subsidiaries are subject to taxation by U.S. federal, state and local authorities for the periods presented. We made joint elections to treat certain subsidiaries as taxable REIT subsidiaries which are subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2017 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership’s partners, including AH4R, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2021, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AH4R had a net operating loss (“NOL”) for U.S. federal income tax purposes of an estimated $25.4 million as of December 31, 2021 and $68.6 million as of December 31, 2020. We intend to use our NOL (to the extent available) to reduce our REIT taxable income to the extent that REIT taxable income is not reduced by our deduction for dividends paid. Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge obtained from historical transactions, its internal construction program (the “AMH Development Program”) and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. Typically, we allocate between 15% to 30% of the purchase price of properties to land. For the year ended December 31, 2021, the Company purchased 2,638 single-family properties treated as asset acquisitions for accounting purposes for a total purchase price of $840.0 million, net of holding costs, which was included in cash paid for single-family properties within the consolidated statement of cash flows. The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property. We incur costs to prepare properties acquired through our traditional acquisition channels for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred. Single-Family Properties Under Development and Development Land Land and construction in progress for our AMH Development Program are presented separately in single-family properties under development and development land within the consolidated balance sheets. Our capitalization policy on development properties follows the guidance in ASC 835-20, Capitalization of Interest , and ASC 970, Real Estate-General . Costs directly related to the development of properties are capitalized and the costs of land and buildings under development include specifically identifiable costs. We also capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met. Single-family Properties Held for Sale and Discontinued Operations Single-family properties are classified as held for sale when they meet the applicable GAAP criteria in accordance with ASC 360-10, Property, Plant, and Equipment—Overall , including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2021 and 2020, the Company had 659 and 711 single-family properties, respectively, classified as held for sale, and recorded $0.2 million, $2.0 million and $3.7 million of impairment on single-family properties held for sale for the years ended December 31, 2021, 2020 and 2019, respectively, which is included in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations . During the years ended December 31, 2021, 2020 and 2019, none of the properties classified as held for sale met the criteria to be reported as a discontinued operation. Impairment of Long-lived Assets We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date. No significant impairments on operating properties were recorded during the years ended December 31, 2021, 2020 and 2019. Land Option Contracts We enter into land option contracts to acquire the right to purchase land for our AMH Development Program. Under these contracts, we typically make a specified option payment or deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze these land option contracts under the variable interest model to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although the Company does not have legal title to the underlying land, we may be required to consolidate the related VIE if we are deemed to be the primary beneficiary. We also consider whether the land option contracts should be accounted for as financing arrangements when the land seller is not consolidated under the variable interest model, as may be required if the land seller or other third-party acquires specific land parcels on our behalf or at our direction or where we make improvements to the underlying land during the option period. As of December 31, 2021 and 2020, we were not the primary beneficiary of any VIE related to land option contracts and had no land option contracts accounted for as financing arrangements. Commercial Office Leases We lease commercial office space from third parties for use in our corporate and property management operations. Commercial office leases are accounted for as operating leases in accordance with ASC 842, Leases , which requires us to recognize right-of-use (“ROU”) assets and lease liabilities within the consolidated balance sheets for the rights and obligations created from these leases. Operating lease ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is generally not determinable, the ROU assets and lease liabilities are measured using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Lease expense for operating leases is recognized on a straight-line basis over the expected lease term in general and administrative expense within the consolidated statements of operations. We elected the short-term lease measurement and recognition exemption and do not establish ROU assets or lease liabilities for operating leases with terms of twelve months or less. We also elected the practical expedient allowing us to avoid separating non-lease components from the associated lease component for our commercial office leases. The ROU assets and lease liabilities are presented in escrow deposits, prepaid expenses and other assets and accounts payable and accrued expenses, respectively, within the consolidated balance sheets. Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally three Intangible Assets Finite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives, and the estimated economic life of our database intangible asset is seven years. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset. No impairment was recorded during the years ended December 31, 2021, 2020 and 2019. Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company’s management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other , which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether an impairment test is necessary. This qualitative assessment requires judgment to be applied in evaluating the effects of multiple factors, including macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, other relevant entity-specific events, events affecting the reporting unit, and whether or not there has been a sustained decrease in the Company’s stock price. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. The impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds the fair value, the impairment loss is determined as the excess of the carrying amount of the goodwill reporting unit over the fair value of that goodwill, not to exceed the carrying amount. Impairment charges, if any, are recognized in operating results. Based on our assessment of qualitative factors on December 31, 2021, we concluded it was more likely than not that the Company’s recorded goodwill balance of $120.3 million was not impaired and did not perform the quantitative test. No goodwill impairment was recorded during the years ended December 31, 2021, 2020 and 2019. Deferred Financing Costs Financing costs related to the origination of the Company’s debt instruments are deferred and amortized as interest expense under the effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company’s revolving credit facility are presented net of accumulated amortization and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Financing costs related to the origination of the Company’s unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets. Cash, Cash Equivalents and Restricted Cash We consider all demand deposits, cashier’s checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant. Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument. The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company’s and the Operating Partnership’s consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets (in thousands): December 31, 2021 2020 2019 Cash and cash equivalents $ 48,198 $ 137,060 $ 37,575 Restricted cash 143,569 128,017 126,544 Total cash, cash equivalents and restricted cash $ 191,767 $ 265,077 $ 164,119 Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risks and rewards of ownership of the property are transferred and the purchase is finalized. Investments in Unconsolidated Joint Ventures Investments in unconsolidated joint ventures are recorded initially at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, our net equity investment is included in investments in unconsolidated joint ventures within the consolidated balance sheets, and our share of net income or loss from the joint ventures is included within other income and expense, net in the consolidated statements of operations. Our recognition of joint venture income or loss is generally based on ownership percentages, which may change upon the achievement of certain investment return thresholds. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. We classify distributions received from our unconsolidated joint ventures using the “cumulative earnings” approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities in our consolidated statements of cash flows. Our investments in unconsolidated joint ventures are reviewed for impairment periodically and we will record an impairment charge when events or circumstances change indicating that a decline in the fair values below the carrying values has occurred and such decline is other-than-temporary. During the year ended December 31, 2020, the Company recognized a $4.9 million impairment charge, of which $3.5 million was recognized in gain on sale and impairment of single-family properties and other, net and $1.4 million was recognized in other income and expense, net within the consolidated statements of operations, associated with the liquidation of legacy joint ventures, which were acquired as part of the American Residential Properties, Inc. (“ARPI”) merger in February 2016. Notes Receivable, Net The Company obtained promissory notes in connection with two bulk dispositions of our single-family properties. The promissory note obtained during the second quarter of 2019 matures in the second quarter of 2025 and the promissory note obtained during the first quarter of 2017 matures in the first quarter of 2022. The promissory notes are secured by first priority mortgages on the disposed homes, contain certain covenants and require monthly or quarterly interest payments with the full principal due at maturity. Notes receivable are presented net of discounts in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Interest income from the notes, including amortization of discounts, is presented in other income and expense, net within the consolidated statements of operations. Upon adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , on January 1, 2020, we are required to estimate and recognize lifetime expected losses, rather than incurred losses, on these notes receivable, which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote. Notes receivable are also presented net of the allowance for expected credit losses, which the Company estimates on a quarterly basis based on (i) credit quality indicators such as the borrower’s historical performance, including the borrower’s financial results and satisfaction of scheduled payments, (ii) current conditions, including macroeconomic conditions and other conditions affecting the borrower, and (iii) other reasonable and supportable forecasts about the future. As part of the monitoring process, we may meet with a borrower’s management to better understand such borrower’s financial performance and its future plans on an as-needed basis. A note receivable will be categorized as non-performing if a borrower experiences financial difficulty and has failed to make scheduled payments. Changes to the allowance for expected credit losses are recognized in other income and expense, net within the consolidated statements of operations. Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. In accordance with ASC 842, Leases , the Company classifies our single-family property leases as operating leases and elects to not separate the lease component, comprised of rents from single-family properties, from the associated non-lease component, comprised of fees from single-family properties and tenant charge-backs. The combined component is accounted for under ASC 842, while certain tenant charge-backs are accounted for as variable payments under ASC 606, Revenue from Contracts with Customers . Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. Tenant charge-backs, which are primarily related to cost recoveries on utilities, are recognized as revenue on a gross basis in the period during which the expenses are incurred. We accrue for property taxes and homeowners’ association (“HOA”) assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period. Gains or losses on sales of properties and upon contributions to our unconsolidated joint ventures are recognized pursuant to the provisions included in ASC 610-20, Other Income . Under ASC 610-20, we must first determine whether the transaction is a sale to a customer or non-customer. We typically sell properties on a selective basis and not within the ordinary course of our operating business and therefore expect that our sale transactions will not be contracts with customers. We next determine whether we have a controlling financial interest in the property after the sale, consistent with the consolidation model in ASC 810, Consolidation . If we determine that we do not have a controlling financial interest in the real estate, we evaluate whether a contract exists under ASC 606 and whether the buyer has obtained control of the asset that was sold. We recognize a full gain or loss on sale, which is presented in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations, when the derecognition criteria under ASC 610-20 have been met. Leasing Costs Our leasing costs are accounted for under the provisions of ASC 842, Leases. Direct costs incurred due to the execution of a lease are initially capitalized and then amortized over the term of the lease, which is generally one year. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, accrued interest, distribution payables, resident security deposits, prepaid rent, construction and maintenance liabilities, HOA fees, operating lease liabilities and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure. Share-Based Compensation Our 2012 Equity Incentive Plan and 2021 Equity Incentive Plan (collectively, the “Plans”) are accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation costs related to options to purchase our Class A common shares, restricted share units (“RSUs”) and performance-based restricted share units (“PSUs”) issued to members of the Company’s board of trustees and employees is based on the fair value of the options, RSUs and PSUs on the grant date and generally amortized over the service period. Forfeitures are recognized as they occur. The Plans allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon termination of service for employees who meet certain retirement eligibility criteria, including age and years of service. Retirement eligible employees must also provide a notice of intent to retire at least six six six six Fair Value of Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 —Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets; • Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement. See Note 12. Fair Value for our consideration of the fair value of our financial instruments. Derivatives From time to time, we may use interest rate cap agreements or other derivative instruments for interest rate risk management purposes. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense during the period in which the hedged transaction affects earnings. Segment Reporting Under the provision of ASC 280, Segment Report

Real Estate Assets, Net

Real Estate Assets, Net	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Real Estate Assets, Net	Real Estate Assets, Net The net book values of real estate assets consisted of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Occupied single-family properties $ 8,522,080 $ 7,957,513 Single-family properties leased, not yet occupied 77,221 71,334 Single-family properties in turnover process 184,170 150,032 Single-family properties recently renovated or developed 126,379 26,102 Single-family properties newly acquired and under renovation 337,643 40,407 Single-family properties in operation, net 9,247,493 8,245,388 Development land 549,653 270,767 Single-family properties under development 332,506 239,598 Single-family properties held for sale, net 114,907 129,026 Total real estate assets, net $ 10,244,559 $ 8,884,779 Depreciation expense related to single-family properties was $357.8 million, $330.2 million and $313.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2021, 2020 and 2019 (in thousands, except property data): For the Years Ended December 31, 2021 2020 2019 Single-family properties: Properties sold 481 1,047 1,330 Net proceeds (1)(2) $ 130,825 $ 228,495 $ 248,199 Net gain on sale $ 50,543 $ 47,187 $ 43,507 Land: Net proceeds $ 1,247 $ 71 $ 3,205 Net gain on sale $ 136 $ 7 $ 366 (1) Total net proceeds for the year ended December 31, 2019 included a $30.7 million note receivable, before a $1.2 million discount, which is presented in escrow deposits, prepaid expenses and other assets (see Note 5. Escrow Deposits, Prepaid Expenses and Other Assets). (2) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables

Rent and Other Receivables	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Rent and Other Receivables	Rent and Other Receivables Included 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 $178.3 million, $160.8 million and $159.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. Variable lease payments for fees from single-family properties were $22.6 million, $16.4 million and $13.8 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company generally rents its single-family properties under non-cancelable lease agreements with a term of one year. The following table summarizes our future minimum rental revenues under existing leases on our properties as of December 31, 2021 (in thousands): December 31, 2021 2022 $ 600,996 2023 45,516 2024 80 Total $ 646,592 As of December 31, 2021 and 2020, rent and other receivables included $1.9 million and $0.8 million, respectively, of insurance claims receivables related to storm damages. During the year ended December 31, 2021, we collected $4.8 million in proceeds from hurricane-related insurance claims. During the year ended December 31, 2020, proceeds collected from insurance claims included $4.0 million related to legal recoveries and $3.7 million related to hurricane-related insurance claims. During the year ended December 31, 2019, we collected $3.5 million in proceeds from hurricane-related insurance claims, of which approximately $1.3 million related to business interruption recoveries .

Escrow Deposits, Prepaid Expens

Escrow Deposits, Prepaid Expenses and Other Assets	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow Deposits, Prepaid Expenses and Other Assets	Escrow Deposits, Prepaid Expenses and Other Assets The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Escrow deposits, prepaid expenses and other $ 88,414 $ 51,886 Commercial real estate, software, vehicles and FF&E, net 62,462 52,130 Notes receivable, net 35,346 35,519 Operating lease ROU assets 17,269 18,772 Deferred costs and other intangibles, net 13,134 4,864 Total $ 216,625 $ 163,171 Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $11.2 million, $8.9 million and $7.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Deferred leasing costs $ 3,090 $ 3,782 Deferred financing costs 22,491 11,244 25,581 15,026 Less: accumulated amortization (12,447) (10,162) Total $ 13,134 $ 4,864 Amortization expense related to deferred leasing costs and database intangibles was $3.9 million, $4.1 million and $8.0 million for the years ended December 31, 2021, 2020 and 2019, respectively, and was included in depreciation and amortization within the consolidated statements of operations. Amortization of deferred financing costs that relate to our revolving credit facility was $2.5 million, $2.0 million and $2.0 million for the years ended December 31, 2021, 2020 and 2019, respectively, and was included in gross interest, prior to interest capitalization (see Note 7. Debt). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2021 for future periods (in thousands): Deferred Leasing Costs Deferred Financing Costs Total 2022 $ 1,454 $ 2,722 $ 4,176 2023 — 2,722 2,722 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,454 $ 11,680 $ 13,134

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures As of December 31, 2021, 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 consolidated statements of operations. During the second quarter of 2014, the Company entered into a joint venture with the Alaska Permanent Fund Corporation (the “Alaska JV”) to invest in homes acquired through traditional acquisition channels. During the third quarter of 2018, the Company entered into a joint venture with another leading institutional investor (the “Institutional Investor JV”) to invest in newly constructed single-family rental homes, which was subsequently amended and upsized to $312.5 million during the third quarter of 2019. The initial term of the joint venture with Institutional Investor JV is five years from the effective date of the amended agreement, during which neither member may unilaterally market properties for sale. During the first quarter of 2020, the Company entered into a $253.1 million strategic joint venture, which has an evergreen term, with institutional investors advised by J.P. Morgan Asset Management (the “J.P. Morgan JV”) focused on constructing and operating newly built rental homes, which was subsequently upsized to $625.0 million during the second quarter of 2020. The following table summarizes our investments in unconsolidated joint ventures (in thousands, except percentages and property data): Joint Venture Description % Ownership at December 31, 2021 Completed Homes at Balances at Balances at Alaska JV 20 % 326 $ 22,658 $ 26,020 Institutional Investor JV 20 % 1,026 28,695 34,112 J.P. Morgan JV 20 % 590 70,597 32,977 1,942 $ 121,950 $ 93,109 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 $10.3 million, $5.8 million and $3.6 million for the years ended December 31, 2021, 2020 and 2019, respectively, and was included in other income and expense, net within the 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 consolidated balance sheets. During the third quarter of 2020, Institutional Investor JV entered into a loan agreement to borrow up to a $201.0 million aggregate commitment. During the initial two-year term, the loan bears interest at the London Inter-Bank Offered Rate (“LIBOR”) plus a 3.50% margin and matures on August 11, 2022. The loan agreement provides for three one

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt All of the Company’s indebtedness is debt of the Operating Partnership. AH4R is not directly obligated under any indebtedness, but guarantees some of the debt of the Operating Partnership. The following table presents the Company’s debt as of December 31, 2021 and 2020 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2021 December 31, 2020 AH4R 2014-SFR2 securitization 4.42 % October 9, 2024 $ 473,594 $ 479,981 AH4R 2014-SFR3 securitization 4.40 % December 9, 2024 488,790 495,392 AH4R 2015-SFR1 securitization (2) 4.14 % April 9, 2045 514,868 520,957 AH4R 2015-SFR2 securitization (3) 4.36 % October 9, 2045 446,929 452,162 Total asset-backed securitizations 1,924,181 1,948,492 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 — 2051 unsecured senior notes 3.38 % July 15, 2051 300,000 — Revolving credit facility (6) 1.20 % April 15, 2026 350,000 — Total debt 3,924,181 2,848,492 Unamortized discounts on unsecured senior notes (15,561) (3,658) Deferred financing costs, net (7) (28,142) (27,422) Total debt per balance sheet $ 3,880,478 $ 2,817,412 (1) Interest rates are rounded and as of December 31, 2021. 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 $1.6 million and $1.5 million committed to outstanding letters of credit that reduced our borrowing capacity as of December 31, 2021 and 2020, respectively. The revolving credit facility bears interest at LIBOR plus 1.10% as of December 31, 2021. (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 $6.1 million, $5.9 million and $5.9 million for the years ended December 31, 2021, 2020 and 2019, respectively, which was included in gross interest, prior to interest capitalization. Early Extinguishment of Debt During the year ended December 31, 2019, the Company paid off the $100.0 million outstanding principal on our term loan facility, which resulted in $0.7 million of charges related to the write-off of unamortized deferred financing costs included in loss on early extinguishment of debt within the consolidated statements of operations. Debt Maturities The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of December 31, 2021 (in thousands): Debt Maturities 2022 $ 20,714 2023 20,714 2024 951,862 2025 10,302 2026 360,302 Thereafter 2,560,287 Total debt $ 3,924,181 Encumbered Properties The following table displays the number of properties pledged as collateral for the Company’s asset-backed securitization loans and the aggregate net book values as of December 31, 2021 and 2020 (in thousands, except property data): December 31, 2021 December 31, 2020 Number of Properties Net Book Value Number of Properties Net Book Value AH4R 2014-SFR2 securitization 4,526 $ 559,257 4,537 $ 575,634 AH4R 2014-SFR3 securitization 4,570 605,420 4,581 624,279 AH4R 2015-SFR1 securitization 4,690 606,385 4,695 624,269 AH4R 2015-SFR2 securitization 4,168 562,443 4,172 576,999 Total encumbered properties 17,954 $ 2,333,505 17,985 $ 2,401,181 Asset-backed Securitizations General Terms The Company has completed multiple asset-backed securitizations, all of which have certain general characteristics in common. The asset-backed securitization transactions resulted in newly-formed special purpose entities (the “Borrowers”), which entered into loans with third-party lenders. The Borrowers are each wholly owned by respective special purpose entities (the “Equity Owners”), which are wholly owned by the Operating Partnership. The loans were represented by promissory notes that were immediately transferred by the third-party lenders to subsidiaries of the Company and then to Real Estate Mortgage Investment Conduit (“REMIC”) trusts in exchange for single-family rental pass-through certificates representing the beneficial ownership interests in the respective loans and trusts. Upon receipt of the certificates, the subsidiaries sold the certificates to investors. The principal amount of each class of certificates corresponds to the corresponding principal amount of the loan components with an additional class to hold the residual REMIC interest. The loans require monthly payments of interest together with principal payments representing one-twelfth of one percent of the original principal amount of the loans. The loans are secured by first priority mortgages on pools of single-family residential properties transferred to the Borrowers from the Company’s portfolio of properties. The Borrowers’ homes were substantially similar to the other properties owned by the Company and were leased to tenants underwritten on substantially the same basis as the tenants in the Company’s other properties. During the duration of the loans, the Borrowers’ properties may not generally be transferred, sold or otherwise securitized and the Company can substitute properties if a property owned by the Borrowers becomes a disqualified property under the terms of the loan or voluntarily with properties eligible for substitution, in limited circumstances, subject to the terms, conditions and limitations provided in the loan agreements. The loans are also secured by a security interest in all of the Borrowers’ personal property and a pledge of all of the assets of the Equity Owners, including a security interest in their membership interests in the Borrowers. The Company provides a limited guaranty (i) for certain losses arising out of designated acts of intentional misconduct and (ii) for the principal amount of the loans and all other obligations under the loan agreements in the event of insolvency or bankruptcy proceedings. The Company accounted for the transfers of the notes from its subsidiaries to the trusts as sales under ASC 860, Transfers and Servicing , with no resulting gain or loss as the notes were both originated by the third-party lenders and immediately transferred at the same fair market value. The Company also evaluated and did not identify any variable interests in the trusts. Accordingly, the Company consolidates, at historical cost basis, the homes placed as collateral for the notes, and the principal balances outstanding on the notes are included in asset-backed securitizations, net within the consolidated balance sheets. The loan agreements provide that the Borrowers maintain covenants typical for securitization transactions including maintaining certain reserve accounts and a debt service coverage ratio of at least 1.20 to 1.00. The loan agreements define the debt service coverage ratio as of any determination date as a ratio in which the numerator is the net cash flow divided by the aggregate debt service for the 12-month period following the date of determination. AH4R 2014-SFR2 Securitization The AH4R 2014-SFR2 securitization completed during the third quarter of 2014 is a fixed-rate loan for $513.3 million with a 10-year term maturing on October 9, 2024 and has a duration-adjusted weighted-average interest rate of 4.42%. The loan was originally secured by first priority mortgages on a portfolio of 4,487 single-family residential properties. In addition to the single-family rental pass-through certificates sold to third parties, the Company acquired all of the Class F certificates, which bear no interest, for $25.7 million. The Company evaluated the purchased Class F certificates as a variable interest in the trust and concluded that the Class F certificates will not absorb a majority of the trust’s expected losses or receive a majority of the trust’s expected residual returns. The Company also concluded that the Class F certificates do not provide the Company with an ability to direct activities that could impact the trust’s economic performance. The Company does not consolidate the trust and the $25.7 million of purchased Class F certificates are reflected as asset-backed securitization certificates in the Company’s consolidated balance sheets and as amounts due from affiliates in the Operating Partnership’s consolidated balance sheets. Gross proceeds to the Company from the transaction, after purchase of the Class F certificates, were $487.7 million, before issuance costs of $12.9 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2014-SFR3 Securitization The AH4R 2014-SFR3 securitization completed during the fourth quarter of 2014 is a fixed-rate loan for $528.4 million with a 10-year term maturing on December 9, 2024 and has a duration-adjusted weighted-average interest rate of 4.40%. The loan was originally secured by first priority mortgages on a portfolio of 4,503 single-family residential properties owned by the Borrower. Gross proceeds from the transaction were $528.4 million, before issuance costs of $12.9 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2015-SFR1 Securitization The AH4R 2015-SFR1 securitization completed during the first quarter of 2015 is a fixed-rate loan for $552.8 million with a 30-year term maturing on April 9, 2045 and has a duration-adjusted weighted-average interest rate of 4.14%. The loan was originally secured by first priority mortgages on a pool of 4,661 single-family residential properties owned by the Borrower and has an anticipated repayment date of April 9, 2025. Gross proceeds from the transaction were $552.8 million, before issuance costs of $13.3 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AH4R 2015-SFR2 Securitization The AH4R 2015-SFR2 securitization completed during the third quarter of 2015 is a fixed-rate loan for $477.7 million with a 30-year term maturing on October 9, 2045 and has a duration-adjusted weighted-average interest rate of 4.36%. The loan was originally secured by first priority mortgages on a portfolio of 4,125 single-family residential properties owned by the Borrower and has an anticipated repayment date of October 9, 2025. Gross proceeds from the transaction were $477.7 million, before issuance costs of $11.3 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. Unsecured Senior Notes During the third quarter of 2021, the Operating Partnership issued $450.0 million of 2.375% unsecured senior notes with a maturity date of July 15, 2031 (the “2031 Notes”) and $300.0 million of 3.375% unsecured senior notes with a maturity date of July 15, 2051 (the “2051 Notes” and, together with the 2031 Notes, the “2031 and 2051 Notes”). Interest on the 2031 and 2051 Notes is payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2022. The Operating Partnership received aggregate net proceeds of $731.6 million from these issuances, after underwriting fees of approximately $5.6 million and a $12.8 million discount, and before offering costs of $1.4 million. The Operating Partnership used the net proceeds from this offering to repay amounts outstanding on its revolving credit facility and for general corporate purposes, including, without limitation, property acquisitions and developments, the expansion, redevelopment and/or improvement of existing properties in the Operating Partnership’s portfolio, other capital expenditures, the redemption of its preferred shares, the repayment of outstanding indebtedness, working capital and other general purposes. The Operating Partnership may redeem the 2031 and 2051 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 2031 Notes are redeemed on or after April 15, 2031 (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 2051 Notes are redeemed on or after January 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. Including the effect of a cash flow hedging instrument settled during the second quarter of 2021 (see Note 12. Fair Value), the 2031 Notes yield an effective interest rate of 2.46%. During the first quarter of 2019, the Operating Partnership issued $400.0 million of 4.90% unsecured senior notes with a maturity date of February 15, 2029 (the “2029 Notes”). Interest on the 2029 Notes, which commenced on August 15, 2019, is payable semi-annually in arrears on February 15 and August 15 of each year. The Operating Partnership received net proceeds of $395.3 million from this issuance, after underwriting fees of approximately $2.6 million and a $2.1 million discount, and before offering costs of $1.0 million. The Operating Partnership used the net proceeds from this issuance to repay amounts outstanding on our revolving credit facility and for general corporate purposes. The Operating Partnership may redeem the 2029 Notes at any time, in whole or in part, at the applicable redemption price specified in the indenture with respect to the 2029 Notes. If the 2029 Notes are redeemed on or after November 15, 2028 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2029 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. During the first quarter of 2018, the Operating Partnership issued $500.0 million of 4.25% unsecured senior notes with a maturity date of February 15, 2028 (the “2028 Notes”). Interest on the 2028 Notes, which commenced on August 15, 2018, is payable semi-annually in arrears on February 15 and August 15 of each year. The Operating Partnership received net proceeds of $494.0 million from this issuance, after underwriting fees of approximately $3.2 million and a $2.8 million discount, and before offering costs of $1.9 million. The net proceeds from this issuance were used for general corporate purposes, including, without limitation, acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or improvement of our properties, working capital and other general purposes, including repurchases of securities. The Operating Partnership may redeem the 2028 Notes at any time, in whole or in part, at the applicable redemption price specified in the indenture with respect to the 2028 Notes. If the 2028 Notes are redeemed on or after November 15, 2027 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2028 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. Including the effect of a cash flow hedging instrument settled during the first quarter of 2018, the 2028 Notes yield an effective interest rate of 4.08%. The 2028 Notes, 2029 Notes, 2031 Notes and 2051 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. Revolving Credit Facility During the second quarter of 2021, the Company closed a $1.25 billion revolving credit facility, amending its existing $800 million revolving credit facility. The amended revolving credit facility provides for expanded borrowing capacity, reflects a more favorable pricing grid based on current market conditions, and includes a sustainability component based upon third-party performance measures through which overall pricing can further improve if the Company meets certain targets. The interest rate on the amended revolving credit facility is at either LIBOR plus a margin ranging from 0.725% to 1.45% or a base rate (determined according to the greater of a prime rate, federal funds rate plus 0.5% or daily LIBOR rate plus 1.0%) plus a margin ranging from 0.00% to 0.45%. In each case the actual margin is determined based on the Company’s credit ratings in effect from time to time. The amended revolving credit facility matures on April 15, 2025, with two six 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 years ended December 31, 2021, 2020 and 2019 (in thousands): For the Years Ended December 31, 2021 2020 2019 Gross interest cost $ 148,689 $ 137,034 $ 138,211 Capitalized interest (33,796) (19,996) (11,097) Interest expense $ 114,893 $ 117,038 $ 127,114

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses The following table summarizes accounts payable and accrued expenses as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Resident security deposits $ 105,809 $ 90,621 Accrued property taxes 52,545 48,689 Accrued construction and maintenance liabilities 50,655 42,483 Accrued interest 33,332 23,018 Prepaid rent 31,190 24,421 Operating lease liabilities 18,723 19,166 Accounts payable 1,113 432 Accrued distribution payable — 13,612 Other accrued liabilities 50,159 36,507 Total $ 343,526 $ 298,949

Shareholders' Equity _ Partners

Shareholders' Equity / Partners' Capital	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Shareholders' Equity / Partners' Capital	Shareholders’ Equity / Partners’ Capital When the Company issues common or preferred shares, the Operating Partnership issues an equivalent number of units of partnership interest of a corresponding class to AH4R, with the Operating Partnership receiving the net proceeds from the share issuances. Class A Common Shares / Units Class A units represent voting equity interests in the Operating Partnership. Holders of Class A units in the Operating Partnership have the right to redeem the units for cash or, at the election of the Company, exchange the units for AH4R’s Class A common shares on a one-for-one basis. AH4R owned 86.8% and 85.9% of the total 389,374,771 and 368,383,440 Class A units outstanding as of December 31, 2021 and 2020, respectively. During the second quarter of 2021, the Company completed an underwritten public offering for 18,745,000 of its Class A common shares of beneficial interest, $0.01 par value per share, of which 5,500,000 shares were issued directly by the Company and 13,245,000 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 “2021 Forward Sale Agreements”) for these 13,245,000 shares which are accounted for in equity. The Company received net proceeds of $194.0 million from the 5,500,000 Class A common shares issued directly by the Company after deducting underwriting fees and before offering costs of approximately $0.2 million. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. The Company used the net proceeds to repay indebtedness under its revolving credit facility, to partially fund the redemption of its Series D and Series E perpetual preferred shares discussed below and for general corporate purposes. The Company did not initially receive proceeds from the sale of the Class A common shares offered on a forward basis. During the third and fourth quarters of 2021, the Company issued and physically settled all 13,245,000 Class A common shares under the 2021 Forward Sale Agreements, receiving net proceeds of $463.5 million. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. The Company used these net proceeds for general corporate purposes including property acquisitions and developments. During the third quarter of 2020, the Company issued 14,950,000 Class A common shares of beneficial interest, $0.01 par value per share, in an underwritten public offering, raising net proceeds of $411.7 million after deducting underwriting fees and before offering costs of approximately $0.2 million. The Company used the net proceeds from this offering (i) to repay indebtedness the Company had incurred 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. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. At-the-Market Common Share Offering Program During the second quarter of 2020, the Company extended its at-the-market common share offering program under which we 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 the Company’s 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 year ended December 31, 2021, the Company issued 1,749,286 Class A common shares under the At-the-Market Program, raising $72.3 million in gross proceeds before commissions and other expenses of approximately $1.1 million. During the year ended December 31, 2020, the Company issued 86,130 Class A common shares under the At-the-Market Program, raising $2.4 million in gross proceeds before commissions and other expenses of approximately $0.4 million. As of December 31, 2021, 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 years ended December 31, 2021, 2020 and 2019, we did not repurchase and retire any of our Class A common shares or preferred shares. As of December 31, 2021, 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. Class B Common Shares Former American Homes 4 Rent, LLC (“AH LLC”) members received 635,075 Class B common shares in connection with their contributions of properties and funds to the Company. The Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the proceeds and properties contributed in the transaction. Each Class B common share generally entitles the holder to 50 votes on all matters that the holders of Class A common shares are entitled to vote. The issuance of Class B common shares to former AH LLC members allows former AH LLC members a voting right associated with their investment in the Company no greater than if they had solely received Class A common shares. Additionally, when the voting interest from Class A common shares and Class B common shares are added together, a shareholder is limited to a 30% total voting interest. Each Class B common share has the same economic interest as a Class A common share. Perpetual Preferred Shares / Units As of December 31, 2021 and 2020, the Company had the following series of perpetual preferred shares outstanding (in thousands, except share data): December 31, 2021 December 31, 2020 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series D perpetual preferred shares 5/24/2016 5/24/2021 6.500 % — $ — 10,750,000 $ 268,750 Series E perpetual preferred shares 6/29/2016 6/29/2021 6.350 % — — 9,200,000 230,000 Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % 6,200,000 155,000 6,200,000 155,000 Series G perpetual preferred shares 7/17/2017 7/17/2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Series H perpetual preferred shares 9/19/2018 9/19/2023 6.250 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 15,400,000 $ 385,000 35,350,000 $ 883,750 Perpetual preferred shares represent non-voting preferred equity interests in the Company and entitle holders to a cumulative annual cash dividend, based on the respective dividend rate in the table above, which is applied to the liquidation preference at issuance of $25.00 per share. The Operating Partnership issues an equivalent number of corresponding perpetual preferred units for the given class to AH4R in exchange for the net proceeds from the share issuances. The Company may, at its option, redeem the perpetual preferred shares for cash, in whole or in part, from time to time, at any time on or after the earliest redemption date shown in the table above or within 120 days after the occurrence of a change in control at a redemption price equal to the $25.00 per share liquidation preference, plus any accumulated and unpaid dividends. During the second quarter of 2021, the Company redeemed all 10,750,000 shares of the outstanding 6.500% Series D perpetual preferred shares, $0.01 par value per share, for cash at a 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 D perpetual preferred units. As a result of the redemption, the Company recorded an $8.5 million allocation of income to the Series D perpetual preferred shareholders within the consolidated statements of operations during the year ended December 31, 2021, which represents the initial liquidation value of the Series D perpetual preferred shares in excess of their carrying value as of the redemption date. During the second quarter of 2021, the Company redeemed all 9,200,000 shares of the outstanding 6.350% Series E perpetual preferred shares, $0.01 par value per share, for cash at a liquidation preference of $25.00 per share plus accrued and unpaid dividends in accordance with the terms of such shares. The Operating Partnership also redeemed its corresponding Series E perpetual preferred units. As a result of the redemption, the Company recorded a $7.4 million allocation of income to the Series E perpetual preferred shareholders within the consolidated statements of operations during the year ended December 31, 2021, which represents the initial liquidation value of the Series E perpetual preferred shares in excess of their carrying value as of the redemption date. Distributions As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AH4R had an NOL for U.S. federal income tax purposes of an estimated $25.4 million as of December 31, 2021 and $68.6 million as of December 31, 2020. We intend to use our NOL (to the extent available) to reduce our REIT taxable income to the extent that REIT taxable income is not reduced by our deduction for dividends paid. No distributions can be paid on our Class A and Class B common shares unless we have first paid all cumulative distributions on our Series F, Series G and Series H perpetual preferred shares. The distribution preference of our Series F, Series G and Series H perpetual preferred shares could limit our ability to make distributions to the holders of our Class A and Class B common shares. The Company’s board of trustees declared the following distributions during the years ended December 31, 2021, 2020 and 2019. 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 Years Ended December 31, 2021 2020 2019 Class A and Class B common shares $ 0.40 $ 0.20 $ 0.20 6.500% Series D perpetual preferred shares (1) 0.70 1.63 1.63 6.350% Series E perpetual preferred shares (2) 0.79 1.59 1.59 5.875% Series F perpetual preferred shares 1.47 1.47 1.47 5.875% Series G perpetual preferred shares 1.47 1.47 1.47 6.250% Series H perpetual preferred shares 1.56 1.56 1.56 (1) The 6.500% Series D perpetual preferred shares were redeemed on June 7, 2021 and the distributions for the year ended December 31, 2021 include the accrued and unpaid dividends paid to shareholders as part of the redemption. (2) The 6.350% Series E perpetual preferred shares were redeemed on June 30, 2021. Noncontrolling Interest Noncontrolling interest as reflected in the Company’s consolidated balance sheets primarily consists of the interests held by former AH LLC members in units in the Operating Partnership. Former AH LLC members owned 50,779,990 and 51,129,990, or approximately 13.0% and 13.9%, of the total 389,374,771 and 368,383,440 Class A units in the Operating Partnership as of December 31, 2021 and 2020, 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 389,374,771 and 368,383,440 Class A units in the Operating Partnership as of December 31, 2021 and 2020, respectively. The OP units owned by former AH LLC members and non-affiliates that are reflected as noncontrolling interest in the Company’s consolidated balance sheets are reflected as limited partner capital in the Operating Partnership’s consolidated balance sheets.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation 2021 Equity Incentive Plan During the second quarter of 2021, the Company’s shareholders approved and the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan replaced the 2012 Equity Incentive Plan (the “2012 Plan”) and provides for the issuance of up to 9,544,095 Class A common shares (including shares that remained available for future awards under the 2012 Plan as of the effective date of the 2021 Plan and shares related to outstanding awards under the 2012 Plan that may become available after expiration, forfeiture or cancellation of such awards). The 2021 Plan provides for the issuance of Class A common shares through the grant of a variety of awards including stock options, stock appreciation rights, RSUs, unrestricted shares, dividend equivalent rights and performance-based awards. The 2021 Plan terminates in May 2031, unless terminated earlier by the Company’s board of trustees. 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 years ended December 31, 2021, 2020 and 2019, the HCC Committee granted RSUs to employees that vest over a one four one four 10 years from the date of grant. During the year ended December 31, 2021, the HCC Committee granted PSUs to certain executives that cliff vest at the end of a three three date of grant and compensation cost is recognized based on the probable achievement of the performance condition at each reporting period. The 2012 Plan and 2021 Plan allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon termination of service for employees who meet certain retirement eligibility criteria, including age and years of service. Retirement eligible employees must also provide a notice of intent to retire at least six The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2021, 2020 and 2019: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (in thousands) Options outstanding at December 31, 2018 2,252,275 $ 16.92 6.1 $ 7,713 Granted 20,000 20.48 Exercised (730,125) 15.94 6,088 Forfeited (12,350) 20.80 Options outstanding at December 31, 2019 1,529,800 $ 17.40 5.3 $ 13,479 Granted — — Exercised (426,150) 16.55 4,911 Forfeited (13,350) 21.89 Options outstanding at December 31, 2020 1,090,300 $ 17.68 4.5 $ 13,436 Granted — — Exercised (266,000) 17.01 5,625 Forfeited — — Options outstanding at December 31, 2021 824,300 $ 17.89 3.7 $ 21,200 Options exercisable at December 31, 2021 786,800 $ 17.81 3.6 $ 20,303 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the grant price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise. The Company uses the Black-Scholes Option Pricing Model to calculate the fair value of stock options granted for Class A common shares. Because the Company’s stock has a limited trading history, the volatility assumption used in the model is based on the historical volatility of similar entities in our industry and the expected term assumption is based on the simplified method by using the average of the contractual term and vesting period. The weighted-average fair value of stock options for Class A common shares granted during the year ended December 31, 2019 was $2.85 based on the following inputs used in the Black-Scholes Option Pricing Model: 2019 Expected term (years) 7.0 Dividend yield 3.0 % Volatility 17.3 % Risk-free interest rate 2.6 % The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2021, 2020 and 2019: Restricted Share Units Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2018 372,375 $ 20.00 Awarded 350,334 22.90 Vested (111,000) 19.75 Forfeited (12,600) 21.34 RSUs outstanding at December 31, 2019 599,109 $ 21.71 Awarded 470,147 27.38 Vested (316,186) 23.61 Forfeited (101,533) 23.93 RSUs outstanding at December 31, 2020 651,537 $ 24.53 Awarded 651,898 32.69 Vested (209,824) 23.15 Forfeited (43,012) 28.41 RSUs outstanding at December 31, 2021 1,050,599 $ 29.71 The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the year ended December 31, 2021: Performance-Based Restricted Share Units Weighted-Average Grant Date Fair Value PSUs outstanding at December 31, 2020 — $ — Awarded 92,319 34.83 Vested — — Forfeited — — PSUs outstanding at December 31, 2021 92,319 $ 34.83 2021 Employee Stock Purchase Plan During the second quarter of 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 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 years ended December 31, 2021, 2020 and 2019 (in thousands): For the Years Ended December 31, 2021 2020 2019 General and administrative expense $ 9,361 $ 6,573 $ 3,466 Property management expenses 3,004 1,745 1,342 Acquisition and other transaction costs 5,427 1,516 — Total noncash share-based compensation expense $ 17,792 $ 9,834 $ 4,808 As of December 31, 2021, the unrecognized compensation expense for unvested RSUs and PSUs was $16.3 million and $1.4 million, respectively. The unrecognized compensation expense for unvested RSUs and PSUs is expected to be recognized over a weighted-average period of 1.6 years and 2.1 years, respectively.

Earnings per Share _ Unit

Earnings per Share / Unit	12 Months Ended
	Dec. 31, 2021
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 years ended December 31, 2021, 2020 and 2019 (in thousands, except share and per share data): For the Years Ended December 31, 2021 2020 2019 Numerator: Net income $ 210,559 $ 154,829 $ 156,260 Less: Noncontrolling interest 21,467 14,455 15,221 Dividends on preferred shares 37,923 55,128 55,128 Redemption of perpetual preferred shares 15,879 — — Allocation to participating securities (1) 418 217 166 Numerator for income per common share–basic and diluted $ 134,872 $ 85,029 $ 85,745 Denominator: Weighted-average common shares outstanding–basic 324,245,168 306,613,197 299,415,397 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 1,273,123 461,550 503,569 Weighted-average common shares outstanding–diluted (3) 325,518,291 307,074,747 299,918,966 Net income per common share: Basic $ 0.42 $ 0.28 $ 0.29 Diluted $ 0.41 $ 0.28 $ 0.29 (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 9). (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 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 years ended December 31, 2021, 2020 and 2019 (in thousands, except unit and per unit data): For the Years Ended December 31, 2021 2020 2019 Numerator: Net income $ 210,559 $ 154,829 $ 156,260 Less: Preferred distributions 37,923 55,128 55,128 Redemption of perpetual preferred units 15,879 — — Allocation to participating securities (1) 418 217 166 Numerator for income per common unit–basic and diluted $ 156,339 $ 99,484 $ 100,966 Denominator: Weighted-average common units outstanding–basic 375,693,107 358,603,291 352,460,401 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 1,273,123 461,550 503,569 Weighted-average common units outstanding–diluted 376,966,230 359,064,841 352,963,970 Net income per common unit: Basic $ 0.42 $ 0.28 $ 0.29 Diluted $ 0.41 $ 0.28 $ 0.29 (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 9).

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2021
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. The Company’s treasury locks were the only financial instruments recorded at fair value on a recurring basis in the consolidated financial statements. 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 7. 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 December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 470,039 $ 479,464 $ 475,144 $ 488,140 AH4R 2014-SFR3 securitization 485,005 495,659 490,319 504,364 AH4R 2015-SFR1 securitization 510,585 521,639 515,326 529,542 AH4R 2015-SFR2 securitization 442,717 455,264 446,818 461,037 Total asset-backed securitizations 1,908,346 1,952,026 1,927,607 1,983,083 2028 unsecured senior notes, net 495,166 554,895 494,378 575,220 2029 unsecured senior notes, net 395,990 463,840 395,427 482,276 2031 unsecured senior notes, net 440,095 442,953 — — 2051 unsecured senior notes, net 290,881 304,461 — — Total unsecured senior notes, net 1,622,132 1,766,149 889,805 1,057,496 Revolving credit facility 350,000 350,000 — — Total debt $ 3,880,478 $ 4,068,175 $ 2,817,412 $ 3,040,579 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 Notes (see Note 7. Debt), which resulted in a $4.0 million loss that was recorded in other comprehensive loss and is being reclassified into earnings as an increase to interest expense over the 10-year term of the 2031 Notes. The estimated amount of existing losses reported in accumulated other comprehensive income at the reporting date expected to be reclassified into earnings within the next 12 months is approximately $0.4 million. The treasury lock 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	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2021 and 2020, affiliates owned approximately 13.5% and 14.3%, 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 and 50,972,165 Class A units as of December 31, 2021 and 2020, respectively) an approximate 24.8% and 26.3% interest at December 31, 2021 and 2020, respectively. During the fourth quarter of 2020, we entered into a settlement and release agreement with a former employee, pursuant to which the parties agreed to settle any and all claims arising out of the employee’s relationship with the company. We paid $2.9 million, net of insurance proceeds, related to this matter, which is included in other income and expense, net within the consolidated statements of operations. American Homes 4 Rent As of December 31, 2020, the Company had a $4.8 million payable related to accrued common distributions to affiliates, which is included in amounts payable to affiliates on the Company’s consolidated balance sheets. American Homes 4 Rent, L.P. As of 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 is included in amounts due from affiliates on the Operating Partnership’s consolidated balance sheets. As of December 31, 2020, the Operating Partnership had a receivable from affiliates of $25.7 million related to the asset-backed securitization certificates held by AH4R, which is included in amounts due from affiliates on the Operating Partnership’s consolidated balance sheets, and had a $4.8 million payable related to accrued common distributions to affiliates, which is included in amounts payable to affiliates on the Operating Partnership’s consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company leases office space from third parties for our corporate and property management operations under non-cancelable operating lease agreements. Our operating leases have remaining lease terms of one For the Years Ended December 31, 2021 2020 2019 Lease costs $ 3,957 $ 3,447 $ 2,612 Other information related to our operating lease terms and discount rates were as follows: December 31, 2021 December 31, 2020 Weighted-Average Remaining Lease Term 7.9 years 8.7 years Weighted-Average Discount Rate 2.8 % 2.9 % Future lease obligations under our operating leases as of December 31, 2021 were as follows (in thousands): Operating Lease Obligations 2022 $ 3,140 2023 2,851 2024 2,745 2025 2,372 2026 1,806 Thereafter 8,084 Total lease payments 20,998 Less: imputed interest (2,275) Operating lease liabilities $ 18,723 As of December 31, 2021, the Company had commitments to acquire 482 single-family properties for an aggregate purchase price of $160.4 million, as well as $409.0 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. As of December 31, 2020, the Company had commitments to acquire 323 single-family properties for an aggregate purchase price of $81.7 million, as well as $72.3 million in purchase commitments for land relating to our AMH Development Program. As of December 31, 2021 and 2020, the Company had sales in escrow for approximately 111 and 97, respectively, of our single-family properties for aggregate selling prices of $39.2 million and $24.0 million, respectively. As of December 31, 2021 and 2020, the Company, as a condition for entering into some of its development contracts, had outstanding surety bonds of approximately $112.4 million and $36.7 million, respectively. We have a retirement savings plan pursuant to Section 401(k) of the Code whereby our employees may contribute a portion of their compensation to their respective retirement accounts in an amount not to exceed the maximum allowed under the Code. In addition to employee contributions, we have elected to provide company contributions (subject to statutory limitations), which amounted to approximately $2.5 million, $2.0 million and $1.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. Captive Insurance Company During the first quarter of 2021, the Company formed a wholly owned captive insurance company, American Dream Insurance, LLC, which provides general liability insurance coverage for losses below the deductible under the Company’s third-party liability insurance policy. The Company created American Dream Insurance, LLC as part of its overall risk management program and to stabilize its insurance costs, manage exposure and recoup expenses through the functions of the captive program. The captive insurance company’s impact on the Company’s consolidated financial statements is immaterial. Legal Matters During the third quarter of 2020, we received a notice from the Georgia Attorney General’s Office seeking certain information relevant to an investigation they are conducting about our customary landlord-tenant matters. We are continuing to cooperate with the Georgia Attorney General’s Office on this matter. 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. COVID-19 Pandemic The global economy has continued to be severely impacted by the COVID-19 pandemic. We are actively monitoring the impact of the COVID-19 pandemic, which may continue to negatively impact our business and results of operations for fiscal year 2022 and likely beyond. The degree to which our operations will be impacted will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including new information which may emerge concerning the duration, spread and severity of the pandemic, including with respect to resurgences, new variants or strains, such as the Delta and Omicron variants, the impact of government regulations, vaccine adoption rates (including boosters), the effectiveness of vaccines against any future variants or strains, employee retention issues resulting from vaccine mandates, and the direct and indirect economic effects of the pandemic and containment measures, among others.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent Acquisitions From January 1, 2022 through February 18, 2022, the Company added 411 properties to its portfolio for a total cost of approximately $149.7 million, which included 135 newly constructed properties delivered through our AMH Development Program and 15 newly constructed homes acquired from third-party developers through our National Builder Program. Subsequent Dispositions From January 1, 2022 through February 18, 2022, the Company disposed of 95 properties for aggregate net proceeds of approximately $28.2 million. Revolving Credit Facility From January 1, 2022 through February 18, 2022, the Company borrowed an additional $120.0 million and paid down $360.0 million under its revolving credit facility, resulting in $110.0 million of outstanding borrowings under its revolving credit facility as of February 18, 2022. Distributions On February 17, 2022, the Company’s board of trustees approved an increase in quarterly dividends to $0.18 per Class A and Class B common share for the first quarter of 2022. The quarterly dividends are payable on March 31, 2022 to shareholders of record on March 15, 2022. Class A Common Share Offering In January 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 expects to physically settle the January 2022 Forward Sale Agreements by the delivery of the Class A common shares and receive proceeds by January 20, 2023, although the Company has the right to elect settlement prior to that time subject to certain conditions. 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. 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 Operating Partnership issued an equivalent number of corresponding Class A units to AH4R in exchange for the net proceeds from the issuance. The Company used the net proceeds from the offering to repay indebtedness under its revolving credit facility and for general corporate purposes. The Company did not initially receive proceeds from the sale of the Class A common shares offered on a forward basis but estimates that net proceeds will be approximately $488.6 million after deducting underwriting fees. The Company expects to use these net proceeds (i) to develop new single-family properties and communities, (ii) to acquire and renovate single-family properties and for related activities in accordance with its business strategy and (iii) for general corporate purposes.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2021 (Amounts in thousands, except number of single-family homes) Initial Cost to Company Cost Capitalized Subsequent to Acquisition Total Cost as of December 31, 2021 (1) Market Number of Single-Family Homes Gross Book Value of Encumbered Assets Land Buildings and Improvements Land Buildings and Improvements Land Buildings and Improvements Total Accumulated Depreciation Net Cost Basis Date of Acquisition Single-family properties in operation Albuquerque, NM 239 $ — $ 7,961 $ 30,578 $ — $ 4,743 $ 7,961 $ 35,321 $ 43,282 $ (9,046) $ 34,236 2013-2021 Atlanta, GA 5,498 193,607 189,799 765,595 — 152,474 189,799 918,069 1,107,868 (179,201) 928,667 2012-2021 Austin, TX 794 36,179 29,799 113,491 — 17,037 29,799 130,528 160,327 (28,831) 131,496 2012-2021 Boise, ID 635 7,911 27,943 105,602 — 16,790 27,943 122,392 150,335 (15,993) 134,342 2013-2021 Charleston, SC 1,463 83,790 64,134 221,586 — 33,916 64,134 255,502 319,636 (44,062) 275,574 2012-2021 Charlotte, NC 3,897 288,888 151,524 561,718 — 80,776 151,524 642,494 794,018 (139,782) 654,236 2012-2021 Cincinnati, OH 2,104 237,454 68,311 273,421 — 51,607 68,311 325,028 393,339 (87,987) 305,352 2012-2021 Colorado Springs, CO 71 — 4,785 20,160 — 1,193 4,785 21,353 26,138 (1,335) 24,803 2013-2021 Columbus, OH 2,139 144,521 65,203 271,672 — 55,459 65,203 327,131 392,334 (77,347) 314,987 2012-2021 Dallas-Fort Worth, TX 4,320 292,327 112,514 517,841 — 105,430 112,514 623,271 735,785 (171,985) 563,800 2012-2021 Denver, CO 844 — 47,581 186,341 — 25,036 47,581 211,377 258,958 (49,676) 209,282 2012-2021 Greater Chicago area, IL and IN 1,700 487,564 53,453 210,667 — 53,121 53,453 263,788 317,241 (84,181) 233,060 2012-2015 Greensboro, NC 733 53,695 21,826 98,549 — 13,947 21,826 112,496 134,322 (28,209) 106,113 2013-2021 Greenville, SC 730 73,526 19,525 101,730 — 14,386 19,525 116,116 135,641 (28,839) 106,802 2013-2021 Houston, TX 2,914 175,907 62,076 364,091 — 69,520 62,076 433,611 495,687 (116,480) 379,207 2012-2021 Indianapolis, IN 2,919 — 81,622 325,228 — 71,373 81,622 396,601 478,223 (115,482) 362,741 2012-2021 Inland Empire, CA 89 — 9,292 11,632 — 1,898 9,292 13,530 22,822 (3,372) 19,450 2012-2016 Jacksonville, FL 2,721 61,872 92,679 377,811 — 69,697 92,679 447,508 540,187 (86,678) 453,509 2012-2021 Knoxville, TN 411 17,699 13,983 68,269 — 8,077 13,983 76,346 90,329 (18,438) 71,891 2013-2021 Las Vegas, NV 1,515 22,249 68,366 227,763 — 55,411 68,366 283,174 351,540 (50,453) 301,087 2011-2021 Memphis, TN 665 17,382 21,920 79,247 — 15,509 21,920 94,756 116,676 (23,962) 92,714 2013-2021 Miami, FL 184 3,462 2,190 21,277 — 5,308 2,190 26,585 28,775 (8,334) 20,441 2013-2015 Milwaukee, WI 109 — 6,446 19,163 — 2,546 6,446 21,709 28,155 (6,898) 21,257 2013 Nashville, TN 3,067 186,415 131,691 491,360 — 77,099 131,691 568,459 700,150 (120,491) 579,659 2012-2021 Orlando, FL 1,824 47,263 67,956 241,508 — 46,129 67,956 287,637 355,593 (64,887) 290,706 2011-2021 Phoenix, AZ 3,296 56,908 146,471 416,829 — 69,429 146,471 486,258 632,729 (105,579) 527,150 2011-2021 Portland, OR 184 24,820 13,214 23,302 — 2,817 13,214 26,119 39,333 (6,411) 32,922 2013-2021 Raleigh, NC 2,165 214,980 77,177 298,539 — 42,107 77,177 340,646 417,823 (82,877) 334,946 2012-2021 Salt Lake City, UT 1,762 160,964 107,284 321,767 — 63,679 107,284 385,446 492,730 (70,843) 421,887 2012-2021 San Antonio, TX 1,292 60,501 37,964 164,091 — 36,017 37,964 200,108 238,072 (39,471) 198,601 2012-2021 Savannah/Hilton Head, SC 974 42,534 34,029 136,059 — 17,206 34,029 153,265 187,294 (29,314) 157,980 2013-2021 Seattle, WA 1,062 28,363 82,224 225,118 — 19,894 82,224 245,012 327,236 (35,778) 291,458 2012-2021 Tampa, FL 2,635 46,670 102,913 392,682 — 63,823 102,913 456,505 559,418 (95,174) 464,244 2012-2021 Tucson, AZ 564 12,205 17,147 78,229 — 13,389 17,147 91,618 108,765 (17,104) 91,661 2011-2021 Winston Salem, NC 846 43,695 21,037 103,852 — 14,776 21,037 118,628 139,665 (28,433) 111,232 2013-2021 Total Single-family properties in operation 56,365 3,123,351 2,062,039 7,866,768 — 1,391,619 2,062,039 9,258,387 11,320,426 (2,072,933) 9,247,493 2011-2021 Properties under development & development land — — 471,782 — 77,871 332,506 549,653 332,506 882,159 — 882,159 Total Single-family properties held for sale 659 — 30,289 86,602 — 17,880 30,289 104,482 134,771 (19,864) 114,907 2011-2020 Total real estate assets 57,024 $ 3,123,351 $ 2,564,110 $ 7,953,370 $ 77,871 $ 1,742,005 $ 2,641,981 $ 9,695,375 $ 12,337,356 $ (2,092,797) $ 10,244,559 2011-2021 (1) The unaudited aggregate cost of consolidated real estate in the table above for federal income tax purposes was $12.4 billion as of December 31, 2021. American Homes 4 Rent American Homes 4 Rent, L.P. Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2021 (Continued) Change in Total Real Estate Assets for Single-Family Properties in Operation For the Years Ended December 31, (Amounts in thousands) 2021 2020 2019 Balance, beginning of period $ 9,999,821 $ 9,448,381 $ 9,197,096 Acquisitions and building improvements 1,426,921 689,566 379,466 Dispositions (95,997) (208,540) (233,094) Write-offs (23,916) (20,843) (12,353) Impairment (131) (1,957) (3,663) Reclassifications to single-family properties held for sale, net of dispositions 13,728 93,214 120,929 Balance, end of period $ 11,320,426 $ 9,999,821 $ 9,448,381 Change in Accumulated Depreciation for Single-Family Properties in Operation For the Years Ended December 31, (Amounts in thousands) 2021 2020 2019 Balance, beginning of period $ (1,754,433) $ (1,462,105) $ (1,176,499) Depreciation (1) (357,797) (330,192) (313,683) Dispositions 14,990 29,433 28,154 Write-offs 23,916 20,843 12,353 Reclassifications to single-family properties held for sale, net of dispositions 391 (12,412) (12,430) Balance, end of period $ (2,072,933) $ (1,754,433) $ (1,462,105) (1) Depreciation of buildings and improvements is computed on a straight-line basis over estimated useful lives ranging from three

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company include the accounts of AH4R, the Operating Partnership and their consolidated subsidiaries. The consolidated financial statements of the Operating Partnership include the accounts of the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. The Company consolidates VIEs in accordance with Accounting Standards Codification (“ASC”) No. 810, Consolidation, if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. Entities for which the Company owns an interest, but does not consolidate, are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the consolidated balance sheets. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made. During the year ended December 31, 2021, the Company reclassified certain impairment charges related to homes classified as held for sale from other expenses to gain on sale and impairment of single-family properties and other, net within the consolidated
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes AH4R has elected to be taxed as a REIT for U.S. federal income tax purposes under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains), we generally will not be subject to U.S. federal income tax. Qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Certain of our subsidiaries are subject to taxation by U.S. federal, state and local authorities for the periods presented. We made joint elections to treat certain subsidiaries as taxable REIT subsidiaries which are subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2017 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership’s partners, including AH4R, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2021, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AH4R had a net operating loss (“NOL”) for U.S. federal income tax purposes of an estimated $25.4 million as of December 31, 2021 and $68.6 million
Investments in Real Estate	Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge obtained from historical transactions, its internal construction program (the “AMH Development Program”) and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. Typically, we allocate between 15% to 30% of the purchase price of properties to land. For the year ended December 31, 2021, the Company purchased 2,638 single-family properties treated as asset acquisitions for accounting purposes for a total purchase price of $840.0 million, net of holding costs, which was included in cash paid for single-family properties within the consolidated statement of cash flows. The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property.
Single Family Properties Under Development and Development Land	Single-Family Properties Under Development and Development Land Land and construction in progress for our AMH Development Program are presented separately in single-family properties under development and development land within the consolidated balance sheets. Our capitalization policy on development properties follows the guidance in ASC 835-20, Capitalization of Interest , and ASC 970, Real Estate-General . Costs directly related to the development of properties are capitalized and the costs of land and buildings under development include specifically identifiable costs. We also capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met.
Single-family Properties Held for Sale and Discontinued Operations	Single-family Properties Held for Sale and Discontinued Operations Single-family properties are classified as held for sale when they meet the applicable GAAP criteria in accordance with ASC 360-10, Property, Plant, and Equipment—Overall , including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2021 and 2020, the Company had 659 and 711 single-family properties, respectively, classified as held for sale, and recorded $0.2 million, $2.0 million and $3.7 million of impairment on single-family properties held for sale for the years ended December 31, 2021, 2020 and 2019, respectively, which is included in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations
Impairment of Long-lived Assets	Impairment of Long-lived Assets    We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date.
Land Option Contracts	Land Option Contracts    We enter into land option contracts to acquire the right to purchase land for our AMH Development Program. Under these contracts, we typically make a specified option payment or deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze these land option contracts under the variable interest model to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although the Company does not have legal title to the underlying land, we may be required to consolidate the related VIE if we are deemed to be the primary beneficiary. We also consider whether the land option contracts should be accounted for as financing arrangements when the land seller is not consolidated under the variable interest model, as may be required if the land seller or other third-party acquires specific land parcels on our behalf or at our direction or where we make improvements to the underlying land during the option period.
Commercial Office Leases	Commercial Office Leases We lease commercial office space from third parties for use in our corporate and property management operations. Commercial office leases are accounted for as operating leases in accordance with ASC 842, Leases , which requires us to recognize right-of-use (“ROU”) assets and lease liabilities within the consolidated balance sheets for the rights and obligations created from these leases. Operating lease ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is generally not determinable, the ROU assets and lease liabilities are measured using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Lease expense for operating leases is recognized on a straight-line basis over the expected lease term in general and administrative expense within the consolidated statements of operations.
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally three
Intangible Assets	Intangible Assets    Finite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives, and the estimated economic life of our database intangible asset is seven years. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset.
Goodwill	Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company’s management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other
Deferred Financing Costs	Deferred Financing Costs Financing costs related to the origination of the Company’s debt instruments are deferred and amortized as interest expense under the effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company’s revolving credit facility are presented net of accumulated amortization and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Financing costs related to the origination of the Company’s unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all demand deposits, cashier’s checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant.
Escrow Deposits	Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties. In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risks and rewards of ownership of the property are transferred and the purchase is finalized.
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures Investments in unconsolidated joint ventures are recorded initially at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, our net equity investment is included in investments in unconsolidated joint ventures within the consolidated balance sheets, and our share of net income or loss from the joint ventures is included within other income and expense, net in the consolidated statements of operations. Our recognition of joint venture income or loss is generally based on ownership percentages, which may change upon the achievement of certain investment return thresholds. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. We classify distributions received from our unconsolidated joint ventures using the “cumulative earnings” approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities in our consolidated statements of cash flows.
Notes Receivable, Net	Notes Receivable, Net The Company obtained promissory notes in connection with two bulk dispositions of our single-family properties. The promissory note obtained during the second quarter of 2019 matures in the second quarter of 2025 and the promissory note obtained during the first quarter of 2017 matures in the first quarter of 2022. The promissory notes are secured by first priority mortgages on the disposed homes, contain certain covenants and require monthly or quarterly interest payments with the full principal due at maturity. Notes receivable are presented net of discounts in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Interest income from the notes, including amortization of discounts, is presented in other income and expense, net within the consolidated statements of operations. Upon adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , on January 1, 2020, we are required to estimate and recognize lifetime expected losses, rather than incurred losses, on these notes receivable, which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote. Notes receivable are also presented net of the allowance for expected credit losses, which the Company estimates on a quarterly basis based on (i) credit quality indicators such as the borrower’s historical performance, including the borrower’s financial results and satisfaction of scheduled payments, (ii) current conditions, including macroeconomic conditions and other conditions affecting the borrower, and (iii) other reasonable and supportable forecasts about the future. As part of the monitoring process, we may meet with a borrower’s management to better understand such borrower’s financial performance and its future plans on an as-needed basis. A note receivable will be categorized as non-performing if a borrower experiences financial difficulty and has failed to make scheduled payments. Changes to the allowance for expected credit losses are recognized in other income and expense, net within the consolidated statements of operations.
Leases, Revenue and Expense Recognition	Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. In accordance with ASC 842, Leases , the Company classifies our single-family property leases as operating leases and elects to not separate the lease component, comprised of rents from single-family properties, from the associated non-lease component, comprised of fees from single-family properties and tenant charge-backs. The combined component is accounted for under ASC 842, while certain tenant charge-backs are accounted for as variable payments under ASC 606, Revenue from Contracts with Customers . Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. Tenant charge-backs, which are primarily related to cost recoveries on utilities, are recognized as revenue on a gross basis in the period during which the expenses are incurred. We accrue for property taxes and homeowners’ association (“HOA”) assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period. Gains or losses on sales of properties and upon contributions to our unconsolidated joint ventures are recognized pursuant to the provisions included in ASC 610-20, Other Income . Under ASC 610-20, we must first determine whether the transaction is a sale to a customer or non-customer. We typically sell properties on a selective basis and not within the ordinary course of our operating business and therefore expect that our sale transactions will not be contracts with customers. We next determine whether we have a controlling financial interest in the property after the sale, consistent with the consolidation model in ASC 810, Consolidation . If we determine that we do not have a controlling financial interest in the real estate, we evaluate whether a contract exists under ASC 606 and whether the buyer has obtained control of the asset that was sold. We recognize a full gain or loss on sale, which is presented in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations, when the derecognition criteria under ASC 610-20 have been met. Leasing Costs Our leasing costs are accounted for under the provisions of ASC 842, Leases. Direct costs incurred due to the execution of a lease are initially capitalized and then amortized over the term of the lease, which is generally one year.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, accrued interest, distribution payables, resident security deposits, prepaid rent, construction and maintenance liabilities, HOA fees, operating lease liabilities and property tax accruals as of the end of the respective period presented. It also consists of contingent loss accruals, if any. Such losses are accrued when they are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure.
Share-based Compensation	Share-Based Compensation Our 2012 Equity Incentive Plan and 2021 Equity Incentive Plan (collectively, the “Plans”) are accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation costs related to options to purchase our Class A common shares, restricted share units (“RSUs”) and performance-based restricted share units (“PSUs”) issued to members of the Company’s board of trustees and employees is based on the fair value of the options, RSUs and PSUs on the grant date and generally amortized over the service period. Forfeitures are recognized as they occur. The Plans allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon termination of service for employees who meet certain retirement eligibility criteria, including age and years of service. Retirement eligible employees must also provide a notice of intent to retire at least six six six six
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 —Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets; • Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Derivatives	Derivatives From time to time, we may use interest rate cap agreements or other derivative instruments for interest rate risk management purposes. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense during the period in which the hedged transaction affects earnings.
Segment Reporting	Segment Reporting Under the provision of ASC 280, Segment Reporting

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company’s and the Operating Partnership’s consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets (in thousands): December 31, 2021 2020 2019 Cash and cash equivalents $ 48,198 $ 137,060 $ 37,575 Restricted cash 143,569 128,017 126,544 Total cash, cash equivalents and restricted cash $ 191,767 $ 265,077 $ 164,119

Real Estate Assets, Net (Tables

Real Estate Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Schedule of Single-Family Properties	The net book values of real estate assets consisted of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Occupied single-family properties $ 8,522,080 $ 7,957,513 Single-family properties leased, not yet occupied 77,221 71,334 Single-family properties in turnover process 184,170 150,032 Single-family properties recently renovated or developed 126,379 26,102 Single-family properties newly acquired and under renovation 337,643 40,407 Single-family properties in operation, net 9,247,493 8,245,388 Development land 549,653 270,767 Single-family properties under development 332,506 239,598 Single-family properties held for sale, net 114,907 129,026 Total real estate assets, net $ 10,244,559 $ 8,884,779 For the Years Ended December 31, 2021 2020 2019 Single-family properties: Properties sold 481 1,047 1,330 Net proceeds (1)(2) $ 130,825 $ 228,495 $ 248,199 Net gain on sale $ 50,543 $ 47,187 $ 43,507 Land: Net proceeds $ 1,247 $ 71 $ 3,205 Net gain on sale $ 136 $ 7 $ 366 (1) Total net proceeds for the year ended December 31, 2019 included a $30.7 million note receivable, before a $1.2 million discount, which is presented in escrow deposits, prepaid expenses and other assets (see Note 5. Escrow Deposits, Prepaid Expenses and Other Assets). (2) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables (Tab

Rent and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Summary of Future Minimum Rental Revenues	The Company generally rents its single-family properties under non-cancelable lease agreements with a term of one year. The following table summarizes our future minimum rental revenues under existing leases on our properties as of December 31, 2021 (in thousands): December 31, 2021 2022 $ 600,996 2023 45,516 2024 80 Total $ 646,592

Escrow Deposits, Prepaid Expe_2

Escrow Deposits, Prepaid Expenses and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of escrow deposits, prepaid expenses and other assets	The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Escrow deposits, prepaid expenses and other $ 88,414 $ 51,886 Commercial real estate, software, vehicles and FF&E, net 62,462 52,130 Notes receivable, net 35,346 35,519 Operating lease ROU assets 17,269 18,772 Deferred costs and other intangibles, net 13,134 4,864 Total $ 216,625 $ 163,171
Deferred Costs and Other Intangibles, Net	Deferred costs and other intangibles, net, consisted of the following as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Deferred leasing costs $ 3,090 $ 3,782 Deferred financing costs 22,491 11,244 25,581 15,026 Less: accumulated amortization (12,447) (10,162) Total $ 13,134 $ 4,864
Amortization Expense Related to Deferred Costs and Other Intangibles	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2021 for future periods (in thousands): Deferred Leasing Costs Deferred Financing Costs Total 2022 $ 1,454 $ 2,722 $ 4,176 2023 — 2,722 2,722 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,454 $ 11,680 $ 13,134

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2021
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 (in thousands, except percentages and property data): Joint Venture Description % Ownership at December 31, 2021 Completed Homes at Balances at Balances at Alaska JV 20 % 326 $ 22,658 $ 26,020 Institutional Investor JV 20 % 1,026 28,695 34,112 J.P. Morgan JV 20 % 590 70,597 32,977 1,942 $ 121,950 $ 93,109

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt as of December 31, 2021 and 2020 (in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2021 December 31, 2020 AH4R 2014-SFR2 securitization 4.42 % October 9, 2024 $ 473,594 $ 479,981 AH4R 2014-SFR3 securitization 4.40 % December 9, 2024 488,790 495,392 AH4R 2015-SFR1 securitization (2) 4.14 % April 9, 2045 514,868 520,957 AH4R 2015-SFR2 securitization (3) 4.36 % October 9, 2045 446,929 452,162 Total asset-backed securitizations 1,924,181 1,948,492 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 — 2051 unsecured senior notes 3.38 % July 15, 2051 300,000 — Revolving credit facility (6) 1.20 % April 15, 2026 350,000 — Total debt 3,924,181 2,848,492 Unamortized discounts on unsecured senior notes (15,561) (3,658) Deferred financing costs, net (7) (28,142) (27,422) Total debt per balance sheet $ 3,880,478 $ 2,817,412 (1) Interest rates are rounded and as of December 31, 2021. 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 $1.6 million and $1.5 million committed to outstanding letters of credit that reduced our borrowing capacity as of December 31, 2021 and 2020, respectively. The revolving credit facility bears interest at LIBOR plus 1.10% as of December 31, 2021. (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 $6.1 million, $5.9 million and $5.9 million for the years ended December 31, 2021, 2020 and 2019, respectively, which was included in gross interest, prior to interest capitalization.
Schedule of Debt Maturities	The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of December 31, 2021 (in thousands): Debt Maturities 2022 $ 20,714 2023 20,714 2024 951,862 2025 10,302 2026 360,302 Thereafter 2,560,287 Total debt $ 3,924,181
Schedule of Encumbered Properties	The following table displays the number of properties pledged as collateral for the Company’s asset-backed securitization loans and the aggregate net book values as of December 31, 2021 and 2020 (in thousands, except property data): December 31, 2021 December 31, 2020 Number of Properties Net Book Value Number of Properties Net Book Value AH4R 2014-SFR2 securitization 4,526 $ 559,257 4,537 $ 575,634 AH4R 2014-SFR3 securitization 4,570 605,420 4,581 624,279 AH4R 2015-SFR1 securitization 4,690 606,385 4,695 624,269 AH4R 2015-SFR2 securitization 4,168 562,443 4,172 576,999 Total encumbered properties 17,954 $ 2,333,505 17,985 $ 2,401,181
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 years ended December 31, 2021, 2020 and 2019 (in thousands): For the Years Ended December 31, 2021 2020 2019 Gross interest cost $ 148,689 $ 137,034 $ 138,211 Capitalized interest (33,796) (19,996) (11,097) Interest expense $ 114,893 $ 117,038 $ 127,114

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Resident security deposits $ 105,809 $ 90,621 Accrued property taxes 52,545 48,689 Accrued construction and maintenance liabilities 50,655 42,483 Accrued interest 33,332 23,018 Prepaid rent 31,190 24,421 Operating lease liabilities 18,723 19,166 Accounts payable 1,113 432 Accrued distribution payable — 13,612 Other accrued liabilities 50,159 36,507 Total $ 343,526 $ 298,949

Shareholders' Equity _ Partne_2

Shareholders' Equity / Partners' Capital (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Preferred Shares	As of December 31, 2021 and 2020, the Company had the following series of perpetual preferred shares outstanding (in thousands, except share data): December 31, 2021 December 31, 2020 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series D perpetual preferred shares 5/24/2016 5/24/2021 6.500 % — $ — 10,750,000 $ 268,750 Series E perpetual preferred shares 6/29/2016 6/29/2021 6.350 % — — 9,200,000 230,000 Series F perpetual preferred shares 4/24/2017 4/24/2022 5.875 % 6,200,000 155,000 6,200,000 155,000 Series G perpetual preferred shares 7/17/2017 7/17/2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Series H perpetual preferred shares 9/19/2018 9/19/2023 6.250 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 15,400,000 $ 385,000 35,350,000 $ 883,750
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 Years Ended December 31, 2021 2020 2019 Class A and Class B common shares $ 0.40 $ 0.20 $ 0.20 6.500% Series D perpetual preferred shares (1) 0.70 1.63 1.63 6.350% Series E perpetual preferred shares (2) 0.79 1.59 1.59 5.875% Series F perpetual preferred shares 1.47 1.47 1.47 5.875% Series G perpetual preferred shares 1.47 1.47 1.47 6.250% Series H perpetual preferred shares 1.56 1.56 1.56

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
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 years ended December 31, 2021, 2020 and 2019: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (in thousands) Options outstanding at December 31, 2018 2,252,275 $ 16.92 6.1 $ 7,713 Granted 20,000 20.48 Exercised (730,125) 15.94 6,088 Forfeited (12,350) 20.80 Options outstanding at December 31, 2019 1,529,800 $ 17.40 5.3 $ 13,479 Granted — — Exercised (426,150) 16.55 4,911 Forfeited (13,350) 21.89 Options outstanding at December 31, 2020 1,090,300 $ 17.68 4.5 $ 13,436 Granted — — Exercised (266,000) 17.01 5,625 Forfeited — — Options outstanding at December 31, 2021 824,300 $ 17.89 3.7 $ 21,200 Options exercisable at December 31, 2021 786,800 $ 17.81 3.6 $ 20,303 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the grant price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
Summary of Black-Scholes Option Pricing Model Inputs Used for Valuation of Stock Options Outstanding	The weighted-average fair value of stock options for Class A common shares granted during the year ended December 31, 2019 was $2.85 based on the following inputs used in the Black-Scholes Option Pricing Model: 2019 Expected term (years) 7.0 Dividend yield 3.0 % Volatility 17.3 % Risk-free interest rate 2.6 %
Summary of Restricted Stock Units Activity Under Plan	The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2021, 2020 and 2019: Restricted Share Units Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2018 372,375 $ 20.00 Awarded 350,334 22.90 Vested (111,000) 19.75 Forfeited (12,600) 21.34 RSUs outstanding at December 31, 2019 599,109 $ 21.71 Awarded 470,147 27.38 Vested (316,186) 23.61 Forfeited (101,533) 23.93 RSUs outstanding at December 31, 2020 651,537 $ 24.53 Awarded 651,898 32.69 Vested (209,824) 23.15 Forfeited (43,012) 28.41 RSUs outstanding at December 31, 2021 1,050,599 $ 29.71 The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the year ended December 31, 2021: Performance-Based Restricted Share Units Weighted-Average Grant Date Fair Value PSUs outstanding at December 31, 2020 — $ — Awarded 92,319 34.83 Vested — — Forfeited — — PSUs outstanding at December 31, 2021 92,319 $ 34.83
Summary of Noncash Share-Based Compensation Expense	The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the years ended December 31, 2021, 2020 and 2019 (in thousands): For the Years Ended December 31, 2021 2020 2019 General and administrative expense $ 9,361 $ 6,573 $ 3,466 Property management expenses 3,004 1,745 1,342 Acquisition and other transaction costs 5,427 1,516 — Total noncash share-based compensation expense $ 17,792 $ 9,834 $ 4,808

Earnings per Share _ Unit (Tabl

Earnings per Share / Unit (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Net Loss per Share on Basic and Diluted Basis	American Homes 4 Rent The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the years ended December 31, 2021, 2020 and 2019 (in thousands, except share and per share data): For the Years Ended December 31, 2021 2020 2019 Numerator: Net income $ 210,559 $ 154,829 $ 156,260 Less: Noncontrolling interest 21,467 14,455 15,221 Dividends on preferred shares 37,923 55,128 55,128 Redemption of perpetual preferred shares 15,879 — — Allocation to participating securities (1) 418 217 166 Numerator for income per common share–basic and diluted $ 134,872 $ 85,029 $ 85,745 Denominator: Weighted-average common shares outstanding–basic 324,245,168 306,613,197 299,415,397 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 1,273,123 461,550 503,569 Weighted-average common shares outstanding–diluted (3) 325,518,291 307,074,747 299,918,966 Net income per common share: Basic $ 0.42 $ 0.28 $ 0.29 Diluted $ 0.41 $ 0.28 $ 0.29 (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 9). (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 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 years ended December 31, 2021, 2020 and 2019 (in thousands, except unit and per unit data): For the Years Ended December 31, 2021 2020 2019 Numerator: Net income $ 210,559 $ 154,829 $ 156,260 Less: Preferred distributions 37,923 55,128 55,128 Redemption of perpetual preferred units 15,879 — — Allocation to participating securities (1) 418 217 166 Numerator for income per common unit–basic and diluted $ 156,339 $ 99,484 $ 100,966 Denominator: Weighted-average common units outstanding–basic 375,693,107 358,603,291 352,460,401 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 1,273,123 461,550 503,569 Weighted-average common units outstanding–diluted 376,966,230 359,064,841 352,963,970 Net income per common unit: Basic $ 0.42 $ 0.28 $ 0.29 Diluted $ 0.41 $ 0.28 $ 0.29 (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 9).

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table displays the carrying values and fair values of our debt instruments as of December 31, 2021 and 2020 (in thousands): December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value AH4R 2014-SFR2 securitization $ 470,039 $ 479,464 $ 475,144 $ 488,140 AH4R 2014-SFR3 securitization 485,005 495,659 490,319 504,364 AH4R 2015-SFR1 securitization 510,585 521,639 515,326 529,542 AH4R 2015-SFR2 securitization 442,717 455,264 446,818 461,037 Total asset-backed securitizations 1,908,346 1,952,026 1,927,607 1,983,083 2028 unsecured senior notes, net 495,166 554,895 494,378 575,220 2029 unsecured senior notes, net 395,990 463,840 395,427 482,276 2031 unsecured senior notes, net 440,095 442,953 — — 2051 unsecured senior notes, net 290,881 304,461 — — Total unsecured senior notes, net 1,622,132 1,766,149 889,805 1,057,496 Revolving credit facility 350,000 350,000 — — Total debt $ 3,880,478 $ 4,068,175 $ 2,817,412 $ 3,040,579

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Cost	For the years ended December 31, 2021, 2020 and 2019, operating lease costs were as follows (in thousands): For the Years Ended December 31, 2021 2020 2019 Lease costs $ 3,957 $ 3,447 $ 2,612 Other information related to our operating lease terms and discount rates were as follows: December 31, 2021 December 31, 2020 Weighted-Average Remaining Lease Term 7.9 years 8.7 years Weighted-Average Discount Rate 2.8 % 2.9 %
Schedule of Future Lease Obligations	Future lease obligations under our operating leases as of December 31, 2021 were as follows (in thousands): Operating Lease Obligations 2022 $ 3,140 2023 2,851 2024 2,745 2025 2,372 2026 1,806 Thereafter 8,084 Total lease payments 20,998 Less: imputed interest (2,275) Operating lease liabilities $ 18,723

Organization and Operations (De

Organization and Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)singleFamilyPropertystateproperty	Dec. 31, 2020USD ($)
Organization and operations
Number of states | state	22
Asset-backed securitization certificates | $	$ 25,666	$ 25,666
American Homes 4 Rent
Organization and operations
General partner ownership interest	86.80%	85.90%
Limited Partners
Organization and operations
Limited partnership interest	13.20%
Single Family Homes
Organization and operations
Number of properties | singleFamilyProperty	57,024
Single Family Homes | Single-family Properties Identified as Part of Disposal Group
Organization and operations
Number of properties | property	659

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2019bulk_disposition	Dec. 31, 2021USD ($)singleFamilyPropertypropertysegment	Dec. 31, 2020USD ($)singleFamilyProperty	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property Subject to or Available for Operating Lease
Investments in unconsolidated joint ventures		$ 121,950,000	$ 93,109,000
Deferred tax asset and liability, net		0
Net operating loss carryforward		25,400,000	68,600,000
Investments in Real Estate
Purchase price		850,071,000	269,273,000	$ 120,487,000
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Impairment of long-lived assets held-for-use		0	0	0
Depreciation and Amortization
Impairment of intangible assets		0	0	0
Goodwill
Goodwill		120,279,000	120,279,000
Goodwill impairments		$ 0	0	0
Impairment charge on joint ventures			4,900,000
Number of bulk disposals | bulk_disposition	2
Revenue and Expense Recognition
Revenue recognition period of operating lease		1 year
Leasing Costs
Lease amortization period		1 year
Share-Based Compensation
Required retirement notice period		6 months
Weighted-average period of unvested cost		6 months
Segment Reporting
Number of reportable segments | segment		1
Cumulative effect adjustment		$ (6,738,429,000)	(6,472,430,000)	(6,018,790,000)	$ (5,973,742,000)
Gain (Loss) on Investments
Goodwill
Impairment charge on joint ventures			3,500,000
Other Operating Income (Expense)
Goodwill
Impairment charge on joint ventures			1,400,000
Accumulated deficit
Segment Reporting
Cumulative effect adjustment		$ 438,710,000	$ 443,522,000	465,368,000	$ 491,214,000
Cumulative Effect, Period of Adoption, Adjustment
Segment Reporting
Cumulative effect adjustment				1,494,000
Cumulative Effect, Period of Adoption, Adjustment | Accumulated deficit
Segment Reporting
Cumulative effect adjustment				1,494,000
Building and Building Improvements
Depreciation and Amortization
Estimated useful life of asset		30 years
Building and Building Improvements | Minimum
Depreciation and Amortization
Estimated useful life of asset		3 years
Building and Building Improvements | Maximum
Depreciation and Amortization
Estimated useful life of asset		30 years
Database Rights
Depreciation and Amortization
Useful life of intangible assets		7 years
Single Family Homes
Investments in Real Estate
Number of properties acquired | property		2,638
Purchase price		$ 840,000,000
Single-family Properties Held for Sale and Discontinued Operations
Number of properties | singleFamilyProperty		57,024
Single Family Homes | Minimum
Investments in Real Estate
Purchase price of properties allocated to land, percent		15.00%
Single Family Homes | Maximum
Investments in Real Estate
Purchase price of properties allocated to land, percent		30.00%
Single Family Homes | Single-family Properties Identified for Future Sale
Single-family Properties Held for Sale and Discontinued Operations
Number of properties | singleFamilyProperty		659	711
Impairment of Real Estate		$ 200,000	$ 2,000,000	$ 3,700,000

Significant Accounting Polici_5

Significant Accounting Policies - Cash, Cash Equivalent, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 48,198	$ 137,060	$ 37,575
Restricted cash	143,569	128,017	126,544
Total cash, cash equivalents and restricted cash	$ 191,767	$ 265,077	$ 164,119	$ 175,214

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Subject to or Available for Operating Lease
Net book value	$ 9,247,493	$ 8,245,388
Development land	549,653	270,767
Single-family properties under development	332,506	239,598
Single-family properties held for sale, net	114,907	129,026
Total real estate assets, net	10,244,559	8,884,779
Single Family Homes
Property Subject to or Available for Operating Lease
Total real estate assets, net	10,244,559	8,884,779
Single Family Homes | Single-family properties in turnover process
Property Subject to or Available for Operating Lease
Net book value	184,170	150,032
Single Family Homes | Single-family properties recently renovated or developed
Property Subject to or Available for Operating Lease
Net book value	126,379	26,102
Single Family Homes | Single-family properties newly acquired and under renovation
Property Subject to or Available for Operating Lease
Net book value	337,643	40,407
Single Family Homes | Occupied single-family properties
Property Subject to or Available for Operating Lease
Net book value	8,522,080	7,957,513
Single Family Homes | Single-family properties leased, not yet occupied
Property Subject to or Available for Operating Lease
Net book value	$ 77,221	$ 71,334

Real Estate Assets, Net - Singl

Real Estate Assets, Net - Single-Family Properties and Land (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property
Land:
Financing receivable, before allowance for credit loss, noncurrent			$ 30,700
Premiums and other receivables			$ 1,200
Single Family Homes
Single-family properties:
Properties sold | property	481	1,047	1,330
Net proceeds	$ 130,825	$ 228,495	$ 248,199
Net gain on sale	50,543	47,187	43,507
Land:
Net proceeds	1,247	71	3,205
Net gain on sale	$ 136	$ 7	$ 366

Real Estate Assets, Net - Narra

Real Estate Assets, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Single Family Homes
Property Subject to or Available for Operating Lease
Depreciation	$ 357.8	$ 330.2	$ 313.7

Rent and Other Receivables - Na

Rent and Other Receivables - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue recognition period of operating lease	1 year
Insurance settlements receivable	$ 1,900	$ 800
Proceeds received from hurricane-related insurance claims	4,842	3,705	$ 2,171
Single Family Homes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Tenant chargebacks	178,300	160,800	159,900
Variable lease payments	22,600	16,400	13,800
Legal Recoveries
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds collected from legal recovery insurance claims		4,000
Hurricane Related Insurance Claims
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds received from hurricane-related insurance claims	$ 4,800	$ 3,700	3,500
Business Interruption Recoveries
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds collected from legal recovery insurance claims			$ 1,300

Rent and Other Receivables - Re

Rent and Other Receivables - Rent (Details) $ in Thousands	Dec. 31, 2021USD ($)
Future minimum rental revenues
2022	$ 600,996
2023	45,516
2024	80
Total	$ 646,592

Escrow Deposits, Prepaid Expe_3

Escrow Deposits, Prepaid Expenses and Other Assets - Schedule of Expenses and Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow deposits, prepaid expenses and other	$ 88,414	$ 51,886
Commercial real estate, software, vehicles and FF&E, net	62,462	52,130
Notes receivable, net	$ 35,346	$ 35,519
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating lease ROU assets	$ 17,269	$ 18,772
Deferred costs and other intangibles, net	13,134	4,864
Total	$ 216,625	$ 163,171

Escrow Deposits, Prepaid Expe_4

Escrow Deposits, Prepaid Expenses and Other Assets - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing costs	$ 3,090	$ 3,782
Deferred financing costs	22,491	11,244
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets	25,581	15,026
Less: accumulated amortization	(12,447)	(10,162)
Total	$ 13,134	$ 4,864

Escrow Deposits, Prepaid Expe_5

Escrow Deposits, Prepaid Expenses and Other Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Amortization expense	$ 3.9	$ 4.1	$ 8
Amortization of deferred financing costs	2.5	2	2
Commercial Real Estate, Software, Vehicles and Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 11.2	$ 8.9	$ 7.6

Escrow Deposits, Prepaid Expe_6

Escrow Deposits, Prepaid Expenses and Other Assets - Amortization Expense (Details) $ in Thousands	Dec. 31, 2021USD ($)
Total
2022	$ 4,176
2023	2,722
2024	2,730
2025	2,722
2026	784
Total	13,134
Deferred Leasing Costs
Deferred Leasing Costs
2022	1,454
2023	0
2024	0
2025	0
2026	0
Total	1,454
Deferred Financing Costs
Deferred Financing Costs
2022	2,722
2023	2,722
2024	2,730
2025	2,722
2026	784
Total	$ 11,680

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Narrative (Details) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2020USD ($)extension	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2021USD ($)joint_venture	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Ownership percentage					20.00%
Number of joint ventures | joint_venture					3
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Size of partnership				$ 312.5
Joint venture, initial term				5 years
Joint Venture
Schedule of Equity Method Investments [Line Items]
Maximum borrowing limit	$ 201
Non-recourse guarantee, term	two
Number of debt instrument extension options | extension	3
Line of credit extension period	1 year
Maximum exposure					$ 174.8
Joint Venture | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	3.50%
Property management expenses | Joint Venture
Schedule of Equity Method Investments [Line Items]
Management fee income					$ 10.3	$ 5.8	$ 3.6
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage					20.00%
Size of partnership		$ 625	$ 253.1

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - JV Investments (Details) $ in Thousands	Dec. 31, 2021USD ($)bulk_disposition	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Percent Ownership	20.00%
Completed Homes | bulk_disposition	1,942
Balances | $	$ 121,950	$ 93,109
Alaska JV
Schedule of Equity Method Investments [Line Items]
Percent Ownership	20.00%
Completed Homes | bulk_disposition	326
Balances | $	$ 22,658	26,020
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Percent Ownership	20.00%
Completed Homes | bulk_disposition	1,026
Balances | $	$ 28,695	34,112
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Percent Ownership	20.00%
Completed Homes | bulk_disposition	590
Balances | $	$ 70,597	$ 32,977

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 3,924,181,000	$ 2,848,492,000
Unamortized discounts on unsecured senior notes	(15,561,000)	(3,658,000)
Deferred financing costs, net	(28,142,000)	(27,422,000)
Total debt per balance sheet	3,880,478,000	2,817,412,000
Amortization of debt issuance costs	8,790,000	7,431,000	$ 7,457,000
Asset-Backed Securitizations, Unsecured Senior Notes and Term Loan Facility
Debt Instrument [Line Items]
Amortization of debt issuance costs	6,100,000	5,900,000	$ 5,900,000
Secured Debt
Debt Instrument [Line Items]
Total debt	$ 1,924,181,000	1,948,492,000
Secured Debt | AH4R 2014-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.42%
Total debt	$ 473,594,000	479,981,000
Secured Debt | AH4R 2014-SFR3 securitization
Debt Instrument [Line Items]
Interest rate	4.40%
Total debt	$ 488,790,000	495,392,000
Secured Debt | 2015-SFR 1
Debt Instrument [Line Items]
Interest rate	4.14%
Total debt	$ 514,868,000	520,957,000
Secured Debt | AH4R 2015-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.36%
Total debt	$ 446,929,000	452,162,000
Exchangeable Senior Notes | 4.25 Percent Senior Notes Due 2028
Debt Instrument [Line Items]
Interest rate	4.25%							4.25%
Effective interest rate	4.08%
Total debt	$ 500,000,000	500,000,000
Deferred financing costs, net								$ (1,900,000)
Exchangeable Senior Notes | 4.90 Percent Senior Notes Due 2029
Debt Instrument [Line Items]
Interest rate	4.90%						4.90%
Total debt	$ 400,000,000	400,000,000
Deferred financing costs, net							$ (1,000,000)
Exchangeable Senior Notes | 2031 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	2.38%			2.375%
Effective interest rate	2.46%
Total debt	$ 450,000,000	0
Exchangeable Senior Notes | 2051 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	3.38%			3.375%
Total debt	$ 300,000,000	0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	1.20%
Total debt	$ 350,000,000	0
Credit facility maximum borrowing capacity	1,250,000,000				$ 1,250,000,000	$ 800,000,000
Letters of credit outstanding	$ 1,600,000	$ 1,500,000
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.10%

Debt - Narrative (Details)

Debt - Narrative (Details)

3 Months Ended

12 Months Ended

Sep. 30, 2021USD ($)

Jun. 30, 2021USD ($)debtInstrumentExtensionOption

Mar. 31, 2019USD ($)

Mar. 31, 2018USD ($)

Sep. 30, 2015USD ($)singleFamilyProperty

Mar. 31, 2015USD ($)property

Dec. 31, 2014USD ($)property

Sep. 30, 2014USD ($)property

Dec. 31, 2021USD ($)singleFamilyProperty

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Mar. 31, 2021USD ($)

Debt Instrument [Line Items]

Loan payoff amount

$ 24,311,000

$ 22,501,000

$ 21,517,000

Debt outstanding

3,924,181,000

2,848,492,000

Proceeds from unsecured senior notes, net of discount

737,195,000

0

397,944,000

Deferred financing costs, net

28,142,000

27,422,000

Revolving Credit Facility

Debt Instrument [Line Items]

Payments on credit facility

$ 1,060,000,000

130,000,000

250,000,000

Single Family Homes

Debt Instrument [Line Items]

Number of properties | singleFamilyProperty

57,024

Term loan facility, net

Debt Instrument [Line Items]

Payments on credit facility

$ 0

0

100,000,000

Secured Debt

Debt Instrument [Line Items]

Minimum coverage ratio

1.20

Debt outstanding

$ 1,924,181,000

1,948,492,000

Secured Debt | Asset Backed Securitizations September 2014 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 513,300,000

Debt instrument term

10 years

Weighted-average interest rate

4.42%

Number of properties | property

4,487

Loan payoff amount

$ 25,700,000

Proceeds from asset-backed securitizations

487,700,000

Debt issuance cost

$ 12,900,000

Secured Debt | Asset Backed Securitizations November 2014 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 528,400,000

Debt instrument term

10 years

Weighted-average interest rate

4.40%

Number of properties | property

4,503

Proceeds from asset-backed securitizations

$ 528,400,000

Debt issuance cost

$ 12,900,000

Secured Debt | Asset Backed Securitizations March 2015 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 552,800,000

Debt instrument term

30 years

Weighted-average interest rate

4.14%

Number of properties | property

4,661

Proceeds from asset-backed securitizations

$ 552,800,000

Debt issuance cost

$ 13,300,000

Secured Debt | Asset Backed Securitizations September 2015 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 477,700,000

Debt instrument term

30 years

Weighted-average interest rate

4.36%

Number of properties | singleFamilyProperty

4,125

Proceeds from asset-backed securitizations

$ 477,700,000

Debt issuance cost

$ 11,300,000

Senior notes | Designated as Hedging Instrument | Treasury Lock

Debt Instrument [Line Items]

Effective interest rate

4.08%

Senior notes | 2031 unsecured senior notes, net

Debt Instrument [Line Items]

Debt outstanding

$ 450,000,000

0

Interest rate

2.375%

2.38%

Redeemable percentage of debt

100.00%

Effective interest rate

2.46%

Senior notes | 2051 unsecured senior notes, net

Debt Instrument [Line Items]

Debt outstanding

$ 300,000,000

0

Interest rate

3.375%

3.38%

Redeemable percentage of debt

100.00%

Senior notes | Senior Unsecured Notes

Debt Instrument [Line Items]

Proceeds from unsecured senior notes, net of discount

$ 731,600,000

Underwriting fees

5,600,000

Unamortized discount on debt

12,800,000

Deferred financing costs, net

$ 1,400,000

Senior notes | 4.90 Percent Senior Notes Due 2029

Debt Instrument [Line Items]

Debt instrument, face amount

$ 400,000,000

Debt outstanding

$ 400,000,000

400,000,000

Interest rate

4.90%

4.90%

Proceeds from unsecured senior notes, net of discount

$ 395,300,000

Underwriting fees

2,600,000

Unamortized discount on debt

2,100,000

Deferred financing costs, net

$ 1,000,000

Redeemable percentage of debt

100.00%

Senior notes | 4.25 Percent Senior Notes Due 2028

Debt Instrument [Line Items]

Debt instrument, face amount

$ 500,000,000

Debt outstanding

$ 500,000,000

500,000,000

Interest rate

4.25%

4.25%

Proceeds from unsecured senior notes, net of discount

$ 494,000,000

Underwriting fees

3,200,000

Unamortized discount on debt

2,800,000

Deferred financing costs, net

$ 1,900,000

Redeemable percentage of debt

100.00%

Effective interest rate

4.08%

Line of Credit | Revolving Credit Facility

Debt Instrument [Line Items]

Debt outstanding

$ 350,000,000

$ 0

Interest rate

1.20%

Credit facility maximum borrowing capacity

$ 1,250,000,000

$ 1,250,000,000

$ 800,000,000

Number of debt instrument extension options | debtInstrumentExtensionOption

2

Line of credit extension period

6 months

Line of Credit | Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.10%

Debt instrument, basis spread on base rate

1.00%

Line of Credit | Revolving Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate

Debt Instrument [Line Items]

Debt instrument, basis spread on base rate

0.50%

Line of Credit | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Commitment fee

0.125%

Line of Credit | Revolving Credit Facility | Minimum | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

0.725%

Line of Credit | Revolving Credit Facility | Minimum | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

Line of Credit | Revolving Credit Facility | Maximum

Debt Instrument [Line Items]

Commitment fee

0.30%

Line of Credit | Revolving Credit Facility | Maximum | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.45%

Line of Credit | Revolving Credit Facility | Maximum | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.45%

Line of Credit | Term loan facility, net

Debt Instrument [Line Items]

Payments on credit facility

100,000,000

Write off of deferred debt issuance costs

$ 700,000

Debt Debt - Maturities (Details

Debt Debt - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 20,714
2023	20,714
2024	951,862
2025	10,302
2026	360,302
Thereafter	2,560,287
Total debt	$ 3,924,181	$ 2,848,492

Debt Debt - Encumbered Properti

Debt Debt - Encumbered Properties (Details) $ in Thousands	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property
Debt Instrument [Line Items]
Net Book Value	$ 9,247,493	$ 8,245,388
Encumbered Properties
Debt Instrument [Line Items]
Number of Properties | property	17,954	17,985
Net Book Value	$ 2,333,505	$ 2,401,181
Encumbered Properties | AH4R 2014-SFR2 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,526	4,537
Net Book Value	$ 559,257	$ 575,634
Encumbered Properties | AH4R 2014-SFR3 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,570	4,581
Net Book Value	$ 605,420	$ 624,279
Encumbered Properties | AH4R 2015-SFR1 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,690	4,695
Net Book Value	$ 606,385	$ 624,269
Encumbered Properties | AH4R 2015-SFR2 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,168	4,172
Net Book Value	$ 562,443	$ 576,999

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Gross interest cost	$ 148,689	$ 137,034	$ 138,211
Capitalized interest	(33,796)	(19,996)	(11,097)
Interest expense	$ 114,893	$ 117,038	$ 127,114

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Resident security deposits	$ 105,809	$ 90,621
Accrued property taxes	52,545	48,689
Accrued construction and maintenance liabilities	50,655	42,483
Accrued interest	33,332	23,018
Prepaid rent	$ 31,190	$ 24,421
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating lease liabilities	$ 18,723	$ 19,166
Accounts payable	1,113	432
Accrued distribution payable	0	13,612
Other accrued liabilities	50,159	36,507
Total	$ 343,526	$ 298,949

Shareholders' Equity _ Partne_3

Shareholders' Equity / Partners' Capital - Class A Common Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class A Common Shares/Units
Class of Stock [Line Items]
Offering costs				$ 200	$ 600	$ 0
Proceeds from issuance of class A common shares				$ 728,810	$ 414,100	$ 0
Class A Common Shares/Units | Public Stock Offering
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	18,745,000
Stated value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Issuance of class A common shares, net of offering costs (in shares)		14,950,000
Class A Common Shares/Units | Public Stock Offering - Issued Directly By The Company
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	5,500,000
Sale of stock, consideration received on transaction	$ 194,000
Offering costs	$ 200	$ 200
Proceeds from issuance of class A common shares		$ 411,700
Class A Common Shares/Units | Public Stock Offering - Forward Sales Agreement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	13,245,000		13,245,000
Sale of stock, consideration received on transaction			$ 463,500
American Homes 4 Rent
Class of Stock [Line Items]
General partner ownership interest				86.80%	85.90%
Class A Units | Operating Partnership
Class of Stock [Line Items]
Stock exchange ratio				1
Units outstanding (in shares)			389,374,771	389,374,771	368,383,440

Shareholders' Equity _ Partne_4

Shareholders' Equity / Partners' Capital - At the Market Common Share Offering Program (Details) - Class A Common Shares/Units - USD ($)	12 Months Ended			24 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Proceeds from issuance of class A common shares	$ 728,810,000	$ 414,100,000	$ 0
Stock issuance costs	$ 200,000	$ 600,000	$ 0
At the Market - Common Share Offering Program
Class of Stock [Line Items]
Capital shares amount authorized for future issuance					$ 500,000,000
Common stock, shares issued (in shares)	1,749,286	86,130		1,835,416
Proceeds from issuance of class A common shares	$ 72,300,000	$ 2,400,000
Stock issuance costs	1,100,000	$ 400,000
Shares reserved for future issuance	$ 425,200,000			$ 425,200,000

Shareholders' Equity _ Partne_5

Shareholders' Equity / Partners' Capital - Share Repurchase Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class A Common Shares/Units
Class of Stock [Line Items]
Repurchase of class A common stock, authorized amount	$ 300,000,000
Remaining repurchase authorization amount	$ 265,100,000
Class A Common Shares/Units | Common Stock
Class of Stock [Line Items]
Repurchases and retire of class A common shares (in shares)	0	0	0
Preferred shares
Class of Stock [Line Items]
Repurchase of class A common stock, authorized amount	$ 250,000,000
Remaining repurchase authorization amount	$ 250,000,000

Shareholders' Equity _ Partne_6

Shareholders' Equity / Partners' Capital - Class B Common Shares (Details) - Class B common shares	12 Months Ended
	Dec. 31, 2021Voteshares
Class of Stock [Line Items]
Common shares entitled to vote | Vote	50
Maximum
Class of Stock [Line Items]
Voting interest percent	30.00%
2012 Offering | AH LLC | 2,770 Property Contribution
Class of Stock [Line Items]
Common stock issued in connection with investment (in shares) | shares	635,075

Shareholders' Equity _ Partne_7

Shareholders' Equity / Partners' Capital - Participating Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred shares, shares outstanding (in shares)		15,400,000	35,350,000
Current Liquidation Value		$ 385,000	$ 883,750
Liquidation preference per share (in dollars per share)		$ 25
Preferred shares, par value (in dollars per share)		$ 0.01	$ 0.01
Series D perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate		6.50%
Preferred shares, shares outstanding (in shares)		0	10,750,000
Current Liquidation Value		$ 0	$ 268,750
Liquidation preference per share (in dollars per share)	$ 25
Preferred Stock, Redemption Amount, Shares	10,750,000
Preferred shares, par value (in dollars per share)	$ 0.01
Preferred stock redemption premium		$ 8,500
Series E perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate		6.35%
Preferred shares, shares outstanding (in shares)		0	9,200,000
Current Liquidation Value		$ 0	$ 230,000
Liquidation preference per share (in dollars per share)	$ 25
Preferred Stock, Redemption Amount, Shares	9,200,000
Preferred shares, par value (in dollars per share)	$ 0.01
Preferred stock redemption premium		$ 7,400
Series F perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate		5.875%
Preferred shares, shares outstanding (in shares)		6,200,000	6,200,000
Current Liquidation Value		$ 155,000	$ 155,000
Series G perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate		5.875%
Preferred shares, shares outstanding (in shares)		4,600,000	4,600,000
Current Liquidation Value		$ 115,000	$ 115,000
Series H perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate		6.25%
Preferred shares, shares outstanding (in shares)		4,600,000	4,600,000
Current Liquidation Value		$ 115,000	$ 115,000
Class A Common Shares/Units
Class of Stock [Line Items]
Offering costs		$ 200	$ 600	$ 0

Shareholders' Equity _ Partne_8

Shareholders' Equity / Partners' Capital - Exchangeable Senior Notes and Distributions (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Net operating loss carryforward	$ 25.4	$ 68.6
Minimum
Class of Stock [Line Items]
REIT Taxable Income Allocation, Percentage	90.00%
Maximum
Class of Stock [Line Items]
REIT Taxable Income Allocation, Percentage	100.00%
Class A and Class B common shares
Class of Stock [Line Items]
Dividends declared on common shares (in dollars per unit)	$ 0.40	$ 0.20	$ 0.20
Series D perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	6.50%
Preferred stock, dividends per share, declared (in dollars per share)	$ 0.70	1.63	1.63
Series E perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	6.35%
Preferred stock, dividends per share, declared (in dollars per share)	$ 0.79	1.59	1.59
Series F perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	5.875%
Preferred stock, dividends per share, declared (in dollars per share)	$ 1.47	1.47	1.47
Series G perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	5.875%
Preferred stock, dividends per share, declared (in dollars per share)	$ 1.47	1.47	1.47
Series H perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	6.25%
Preferred stock, dividends per share, declared (in dollars per share)	$ 1.56	$ 1.56	$ 1.56

Shareholders' Equity _ Partne_9

Shareholders' Equity / Partners' Capital - Noncontrolling Interest Narrative (Details) - Operating Partnership - Class A Units - shares	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Units outstanding (in shares)	389,374,771	368,383,440
American Residential Properties Inc.
Class of Stock [Line Items]
Percentage of units outstanding	0.20%	0.20%
Units outstanding (in shares)	596,990	596,990
AH LLC
Class of Stock [Line Items]
Units owned (in shares)	50,779,990	51,129,990
Percentage of units outstanding	13.00%	13.90%

Share-Based Compensation - 2021

Share-Based Compensation - 2021 Equity Incentive Plan (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2021
Class of Stock [Line Items]
Required retirement notice period	6 months
2021 Equity Incentive Plan | Stock options
Class of Stock [Line Items]
Expiration period	10 years
2021 Equity Incentive Plan | Stock options | Non-Management Trustees
Class of Stock [Line Items]
Vesting period			4 years
2021 Equity Incentive Plan | Restricted stock units | Minimum
Class of Stock [Line Items]
Vesting period	1 year	1 year	1 year
2021 Equity Incentive Plan | Restricted stock units | Maximum
Class of Stock [Line Items]
Vesting period	4 years	4 years	4 years
2021 Equity Incentive Plan | Restricted stock units | Non-Management Trustees
Class of Stock [Line Items]
Vesting period	1 year	1 year	1 year
2021 Equity Incentive Plan | Performance Share Units (PSU's)
Class of Stock [Line Items]
Vesting period	3 years
Award requisite service period	3 years
2021 Equity Incentive Plan | Performance Share Units (PSU's) | Minimum
Class of Stock [Line Items]
Award vesting rights, percentage	0.00%
2021 Equity Incentive Plan | Performance Share Units (PSU's) | Maximum
Class of Stock [Line Items]
Award vesting rights, percentage	200.00%
2021 Equity Incentive Plan | Class A Common Shares/Units
Class of Stock [Line Items]
Shares available for issuance (in shares)				9,544,095

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - Stock options - 2021 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Options outstanding, beginning of period (in shares)	1,090,300	1,529,800	2,252,275
Granted (in shares)	0	0	20,000
Exercised (in shares)	(266,000)	(426,150)	(730,125)
Forfeited (in shares)	0	(13,350)	(12,350)
Options outstanding, end of period (in shares)	824,300	1,090,300	1,529,800	2,252,275
Options exercisable at period end (in shares)	786,800
Weighted-Average Exercise Price
Options outstanding, beginning balance (in dollars per share)	$ 17.68	$ 17.40	$ 16.92
Granted (in dollars per share)	0	0	20.48
Exercised (in dollars per share)	17.01	16.55	15.94
Forfeited (in dollars per share)	0	21.89	20.80
Options outstanding, ending balance (in dollars per share)	17.89	$ 17.68	$ 17.40	$ 16.92
Options exercisable at period end (in dollars per share)	$ 17.81
Options outstanding, weighted average contractual life	3 years 8 months 12 days	4 years 6 months	5 years 3 months 18 days	6 years 1 month 6 days
Options exercisable at period end, weighted average contractual life	3 years 7 months 6 days
Aggregate Intrinsic Value
Options outstanding, intrinsic value	$ 21,200	$ 13,436	$ 13,479	$ 7,713
Exercised, intrinsic value	5,625	$ 4,911	$ 6,088
Options exercisable at period end, intrinsic value	$ 20,303

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Inputs (Details) - Class A Common Shares/Units - Stock options	12 Months Ended
	Dec. 31, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value (in dollars per share)	$ 2.85
Expected term (years)	7 years
Dividend yield	3.00%
Volatility	17.30%
Risk-free interest rate	2.60%

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units (Details) - 2021 Equity Incentive Plan - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted stock units
Restricted Share Units
Restricted stock at beginning of period (in shares)	651,537	599,109	372,375
Awarded (in shares)	651,898	470,147	350,334
Vested (in shares)	(209,824)	(316,186)	(111,000)
Forfeited (in shares)	(43,012)	(101,533)	(12,600)
Restricted stock at end of period (in shares)	1,050,599	651,537	599,109
Weighted- Average Grant Date Fair Value
Weighted- Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 24.53	$ 21.71	$ 20
Weighted- Average Grant Date Fair Value, Awarded (in dollars per share)	32.69	27.38	22.90
Weighted- Average Grant Date Fair Value, Vested (in dollars per share)	23.15	23.61	19.75
Weighted- Average Grant Date Fair Value, Forfeited (in dollars per share)	28.41	23.93	21.34
Weighted- Average Grant Date Fair Value, Ending balance (in dollars per share)	$ 29.71	$ 24.53	$ 21.71
Performance Share Units (PSU's)
Restricted Share Units
Restricted stock at beginning of period (in shares)	0
Awarded (in shares)	92,319
Vested (in shares)	0
Forfeited (in shares)	0
Restricted stock at end of period (in shares)	92,319	0
Weighted- Average Grant Date Fair Value
Weighted- Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 0
Weighted- Average Grant Date Fair Value, Awarded (in dollars per share)	34.83
Weighted- Average Grant Date Fair Value, Vested (in dollars per share)	0
Weighted- Average Grant Date Fair Value, Forfeited (in dollars per share)	0
Weighted- Average Grant Date Fair Value, Ending balance (in dollars per share)	$ 34.83	$ 0

Share-Based Compensation - 20_2

Share-Based Compensation - 2021 Employee Stock Purchase Plan (Details) - shares	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, purchase period	6 months
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent	85.00%
2021 Equity Incentive Plan | Class A Common Shares/Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized		3,000,000

Share-Based Compensation - Nonc

Share-Based Compensation - Noncash Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 17,792	$ 9,834	$ 4,808
Weighted-average period of unvested cost	6 months
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total unrecognized compensation cost	$ 16,300
Weighted-average period of unvested cost	1 year 7 months 6 days
Performance Share Units (PSU's)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total unrecognized compensation cost	$ 1,400
Weighted-average period of unvested cost	2 years 1 month 6 days
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 9,361	6,573	3,466
Property management expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	3,004	1,745	1,342
Acquisition and other transaction costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 5,427	$ 1,516	$ 0

Earnings per Share _ Unit (Deta

Earnings per Share / Unit (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares
Numerator:
Net income	$ 210,559	$ 154,829	$ 156,260
Less:
Noncontrolling interest	21,467	14,455	15,221
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Allocation to participating securities	418	217	166
Numerator for income per common share–basic and diluted	$ 134,872	$ 85,029	$ 85,745
Denominator:
Weighted-average common shares outstanding - basic (in shares) | shares	324,245,168	306,613,197	299,415,397
Effect of dilutive securities: Share-based compensation plan (in shares) | shares	1,273,123	461,550	503,569
Weighted-average common shares outstanding - diluted (in shares) | shares	325,518,291	307,074,747	299,918,966
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	$ 0.42	$ 0.28	$ 0.29
Diluted (in dollars per share) | $ / shares	$ 0.41	$ 0.28	$ 0.29
Class A Units | Operating Partnership
Net income (loss) per common share/unit
Stock exchange ratio	1
American Homes 4 Rent, L.P.
Numerator:
Net income	$ 210,559	$ 154,829	$ 156,260
Less:
Dividends on preferred shares	37,923	55,128	55,128
Redemption of perpetual preferred shares	15,879	0	0
Allocation to participating securities	418	217	166
Numerator for income per common share–basic and diluted	$ 156,339	$ 99,484	$ 100,966
Denominator:
Weighted-average common units outstanding - basic (in shares) | shares	375,693,107	358,603,291	352,460,401
Effect of dilutive securities: Share-based compensation plan (in shares) | shares	1,273,123	461,550	503,569
Weighted-average common units outstanding - diluted (in shares) | shares	376,966,230	359,064,841	352,963,970
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	$ 0.42	$ 0.28	$ 0.29
Diluted (in dollars per share) | $ / shares	$ 0.41	$ 0.28	$ 0.29

Fair Value - Carrying Value and

Fair Value - Carrying Value and Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on settlement of cash flow hedging instrument			$ 3,999	$ 0	$ 0
Designated as Hedging Instrument | Treasury Lock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount		$ 400,000
Derivative, Term of Contract		10 years
Loss on settlement of cash flow hedging instrument	$ 4,000
Reclassified during next 12 months, net			400
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revolving credit facility			350,000	0
Total debt			3,880,478	2,817,412
Carrying Value | AH4R 2014-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			470,039	475,144
Carrying Value | AH4R 2014-SFR3 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			485,005	490,319
Carrying Value | AH4R 2015-SFR1 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			510,585	515,326
Carrying Value | AH4R 2015-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			442,717	446,818
Carrying Value | Total asset-backed securitizations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			1,908,346	1,927,607
Carrying Value | 2028 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			495,166	494,378
Carrying Value | 2029 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			395,990	395,427
Carrying Value | 2031 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			440,095	0
Carrying Value | 2051 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			290,881	0
Carrying Value | Total unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			1,622,132	889,805
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revolving credit facility			350,000	0
Total debt			4,068,175	3,040,579
Fair Value | AH4R 2014-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			479,464	488,140
Fair Value | AH4R 2014-SFR3 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			495,659	504,364
Fair Value | AH4R 2015-SFR1 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			521,639	529,542
Fair Value | AH4R 2015-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			455,264	461,037
Fair Value | Total asset-backed securitizations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset-backed securitization			1,952,026	1,983,083
Fair Value | 2028 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			554,895	575,220
Fair Value | 2029 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			463,840	482,276
Fair Value | 2031 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			442,953	0
Fair Value | 2051 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			304,461	0
Fair Value | Total unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes			$ 1,766,149	$ 1,057,496

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Related Party Transaction
Amounts payable to affiliates	$ 4,834	$ 0
American Homes 4 Rent, L.P.
Related Party Transaction
Amounts payable to affiliates	$ 4,834	$ 0
Class A Common Shares/Units
Related Party Transaction
Common stock, shares outstanding (in shares)	316,021,385	337,362,716
Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)	635,075	635,075
Affiliates
Related Party Transaction
Percent of shares held	26.30%	24.80%
Amounts payable to affiliates	$ 4,800
Affiliates | American Homes 4 Rent, L.P.
Related Party Transaction
Amounts payable to affiliates	4,800
Due from affiliates	$ 25,700	$ 25,700
Affiliates | Class A Common Shares/Units
Related Party Transaction
Percent of shares held	14.30%	13.50%
Common stock, shares outstanding (in shares)	50,972,165	50,622,165
Affiliates | Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)	635,075	635,075
Former Employee
Related Party Transaction
Settlement with related party	$ 2,900

Commitments and Contingencies -

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating leases rental expenses
Lease costs	$ 3,957	$ 3,447	$ 2,612
Other Operating Lease Information
Weighted-Average Remaining Lease Term	7 years 10 months 24 days	8 years 8 months 12 days
Weighted-Average Discount Rate	2.80%	2.90%
Future lease obligations under our operating leases
2022	$ 3,140
2023	2,851
2024	2,745
2025	2,372
2026	1,806
Thereafter	8,084
Total lease payments	20,998
Less: imputed interest	(2,275)
Operating lease liabilities	$ 18,723	$ 19,166

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)singleFamilyProperty	Dec. 31, 2020USD ($)singleFamilyProperty	Dec. 31, 2019USD ($)
Commitments and contingencies
Number of real estate properties held-for-sale in escrow | singleFamilyProperty	111	97
Expected proceeds from sale of property held-for-sale	$ 39.2	$ 24
Company contributions	2.5	2	$ 1.6
Surety Bond
Commitments and contingencies
Current carrying value	112.4	36.7
Single Family
Commitments and contingencies
Third party development agreements and land	160.4	81.7
Land
Commitments and contingencies
Third party development agreements and land	$ 409	$ 72.3
Commitment to acquire properties
Commitments and contingencies
Number of properties | singleFamilyProperty	482	323
Minimum
Commitments and contingencies
Operating leases have remaining lease terms	1 year
Maximum
Commitments and contingencies
Operating leases have remaining lease terms	10 years

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	Feb. 17, 2022$ / shares	Jan. 31, 2022USD ($)$ / sharesshares	Feb. 18, 2022USD ($)property	Jun. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / shares	Dec. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)
Subsequent Event
Net proceeds received from sales of single-family properties and other						$ 132,072	$ 228,566	$ 221,930
Class A common shares
Subsequent Event
Offering costs						$ 200	$ 600	0
Class A common shares | Public Stock Offering
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares				18,745,000
Stated value per share (in dollars per share) | $ / shares				$ 0.01	$ 0.01	$ 0.01	$ 0.01
Class A common shares | Public Stock Offering - Issued Directly By The Company
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares				5,500,000
Sale of stock, consideration received on transaction				$ 194,000
Offering costs				$ 200	$ 200
Class B common shares
Subsequent Event
Stated value per share (in dollars per share) | $ / shares						$ 0.01	$ 0.01
Revolving Credit Facility
Subsequent Event
Additional borrowings						$ 1,410,000	$ 130,000	0
Payments on credit facility						$ 1,060,000	$ 130,000	$ 250,000
Subsequent Events
Subsequent Event
Number of properties acquired | property			411
Total cost of property acquired			$ 149,700
Number of internally developed properties developed | property			135
Number of newly constructed homes acquired from third-party developers | property			15
Number of properties sold | property			95
Net proceeds received from sales of single-family properties and other			$ 28,200
Subsequent Events | Class A common shares
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.18
Subsequent Events | Class A common shares | Public Stock Offering
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares		23,000,000
Stated value per share (in dollars per share) | $ / shares		$ 0.01
Subsequent Events | Class A common shares | Public Stock Offering - Issued Directly By The Company
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares		10,000,000
Sale of stock, consideration received on transaction		$ 375,800
Offering costs		$ 200
Subsequent Events | Class A common shares | Public Stock Offering - January 2022 Forward Sales Agreement
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares		13,000,000
Sale of stock, consideration received on transaction		$ 488,600
Subsequent Events | Class B common shares
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.18
Subsequent Events | Line of Credit | Revolving Credit Facility
Subsequent Event
Additional borrowings			120,000
Payments on credit facility			360,000
Outstanding borrowings			$ 110,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)singleFamilyProperty	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	57,024
Gross Book Value of Encumbered Assets	$ 3,123,351
Initial Cost to Company, Land	2,564,110
Initial Cost to Company, Buildings and Improvements	7,953,370
Cost Capitalized Subsequent to Acquisition, Land	77,871
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,742,005
Total Cost, Land	2,641,981
Total Cost, Buildings and Improvements	9,695,375
Total	12,337,356
Accumulated Depreciation	(2,092,797)
Net Cost Basis	10,244,559
Aggregate cost of consolidated real estate for federal income tax purposes	$ 12,400,000
Single family homes
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	56,365
Gross Book Value of Encumbered Assets	$ 3,123,351
Initial Cost to Company, Land	2,062,039
Initial Cost to Company, Buildings and Improvements	7,866,768
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,391,619
Total Cost, Land	2,062,039
Total Cost, Buildings and Improvements	9,258,387
Total	11,320,426	$ 9,999,821	$ 9,448,381	$ 9,197,096
Accumulated Depreciation	(2,072,933)	$ (1,754,433)	$ (1,462,105)	$ (1,176,499)
Net Cost Basis	$ 9,247,493
Single family homes | Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	239
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	7,961
Initial Cost to Company, Buildings and Improvements	30,578
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	4,743
Total Cost, Land	7,961
Total Cost, Buildings and Improvements	35,321
Total	43,282
Accumulated Depreciation	(9,046)
Net Cost Basis	$ 34,236
Single family homes | Atlanta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	5,498
Gross Book Value of Encumbered Assets	$ 193,607
Initial Cost to Company, Land	189,799
Initial Cost to Company, Buildings and Improvements	765,595
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	152,474
Total Cost, Land	189,799
Total Cost, Buildings and Improvements	918,069
Total	1,107,868
Accumulated Depreciation	(179,201)
Net Cost Basis	$ 928,667
Single family homes | Austin, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	794
Gross Book Value of Encumbered Assets	$ 36,179
Initial Cost to Company, Land	29,799
Initial Cost to Company, Buildings and Improvements	113,491
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,037
Total Cost, Land	29,799
Total Cost, Buildings and Improvements	130,528
Total	160,327
Accumulated Depreciation	(28,831)
Net Cost Basis	$ 131,496
Single family homes | Boise, ID
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	635
Gross Book Value of Encumbered Assets	$ 7,911
Initial Cost to Company, Land	27,943
Initial Cost to Company, Buildings and Improvements	105,602
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	16,790
Total Cost, Land	27,943
Total Cost, Buildings and Improvements	122,392
Total	150,335
Accumulated Depreciation	(15,993)
Net Cost Basis	$ 134,342
Single family homes | Charleston, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,463
Gross Book Value of Encumbered Assets	$ 83,790
Initial Cost to Company, Land	64,134
Initial Cost to Company, Buildings and Improvements	221,586
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	33,916
Total Cost, Land	64,134
Total Cost, Buildings and Improvements	255,502
Total	319,636
Accumulated Depreciation	(44,062)
Net Cost Basis	$ 275,574
Single family homes | Charlotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,897
Gross Book Value of Encumbered Assets	$ 288,888
Initial Cost to Company, Land	151,524
Initial Cost to Company, Buildings and Improvements	561,718
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	80,776
Total Cost, Land	151,524
Total Cost, Buildings and Improvements	642,494
Total	794,018
Accumulated Depreciation	(139,782)
Net Cost Basis	$ 654,236
Single family homes | Cincinnati, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,104
Gross Book Value of Encumbered Assets	$ 237,454
Initial Cost to Company, Land	68,311
Initial Cost to Company, Buildings and Improvements	273,421
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	51,607
Total Cost, Land	68,311
Total Cost, Buildings and Improvements	325,028
Total	393,339
Accumulated Depreciation	(87,987)
Net Cost Basis	$ 305,352
Single family homes | Colorado Springs, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	71
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	4,785
Initial Cost to Company, Buildings and Improvements	20,160
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,193
Total Cost, Land	4,785
Total Cost, Buildings and Improvements	21,353
Total	26,138
Accumulated Depreciation	(1,335)
Net Cost Basis	$ 24,803
Single family homes | Columbus, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,139
Gross Book Value of Encumbered Assets	$ 144,521
Initial Cost to Company, Land	65,203
Initial Cost to Company, Buildings and Improvements	271,672
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	55,459
Total Cost, Land	65,203
Total Cost, Buildings and Improvements	327,131
Total	392,334
Accumulated Depreciation	(77,347)
Net Cost Basis	$ 314,987
Single family homes | Dallas-Fort Worth, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	4,320
Gross Book Value of Encumbered Assets	$ 292,327
Initial Cost to Company, Land	112,514
Initial Cost to Company, Buildings and Improvements	517,841
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	105,430
Total Cost, Land	112,514
Total Cost, Buildings and Improvements	623,271
Total	735,785
Accumulated Depreciation	(171,985)
Net Cost Basis	$ 563,800
Single family homes | Denver, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	844
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	47,581
Initial Cost to Company, Buildings and Improvements	186,341
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	25,036
Total Cost, Land	47,581
Total Cost, Buildings and Improvements	211,377
Total	258,958
Accumulated Depreciation	(49,676)
Net Cost Basis	$ 209,282
Single family homes | Greater Chicago area, IL and IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,700
Gross Book Value of Encumbered Assets	$ 487,564
Initial Cost to Company, Land	53,453
Initial Cost to Company, Buildings and Improvements	210,667
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	53,121
Total Cost, Land	53,453
Total Cost, Buildings and Improvements	263,788
Total	317,241
Accumulated Depreciation	(84,181)
Net Cost Basis	$ 233,060
Single family homes | Greensboro, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	733
Gross Book Value of Encumbered Assets	$ 53,695
Initial Cost to Company, Land	21,826
Initial Cost to Company, Buildings and Improvements	98,549
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	13,947
Total Cost, Land	21,826
Total Cost, Buildings and Improvements	112,496
Total	134,322
Accumulated Depreciation	(28,209)
Net Cost Basis	$ 106,113
Single family homes | Greenville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	730
Gross Book Value of Encumbered Assets	$ 73,526
Initial Cost to Company, Land	19,525
Initial Cost to Company, Buildings and Improvements	101,730
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	14,386
Total Cost, Land	19,525
Total Cost, Buildings and Improvements	116,116
Total	135,641
Accumulated Depreciation	(28,839)
Net Cost Basis	$ 106,802
Single family homes | Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,914
Gross Book Value of Encumbered Assets	$ 175,907
Initial Cost to Company, Land	62,076
Initial Cost to Company, Buildings and Improvements	364,091
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	69,520
Total Cost, Land	62,076
Total Cost, Buildings and Improvements	433,611
Total	495,687
Accumulated Depreciation	(116,480)
Net Cost Basis	$ 379,207
Single family homes | Indianapolis, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,919
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	81,622
Initial Cost to Company, Buildings and Improvements	325,228
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	71,373
Total Cost, Land	81,622
Total Cost, Buildings and Improvements	396,601
Total	478,223
Accumulated Depreciation	(115,482)
Net Cost Basis	$ 362,741
Single family homes | Inland Empire, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	89
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	9,292
Initial Cost to Company, Buildings and Improvements	11,632
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,898
Total Cost, Land	9,292
Total Cost, Buildings and Improvements	13,530
Total	22,822
Accumulated Depreciation	(3,372)
Net Cost Basis	$ 19,450
Single family homes | Jacksonville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,721
Gross Book Value of Encumbered Assets	$ 61,872
Initial Cost to Company, Land	92,679
Initial Cost to Company, Buildings and Improvements	377,811
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	69,697
Total Cost, Land	92,679
Total Cost, Buildings and Improvements	447,508
Total	540,187
Accumulated Depreciation	(86,678)
Net Cost Basis	$ 453,509
Single family homes | Knoxville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	411
Gross Book Value of Encumbered Assets	$ 17,699
Initial Cost to Company, Land	13,983
Initial Cost to Company, Buildings and Improvements	68,269
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	8,077
Total Cost, Land	13,983
Total Cost, Buildings and Improvements	76,346
Total	90,329
Accumulated Depreciation	(18,438)
Net Cost Basis	$ 71,891
Single family homes | Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,515
Gross Book Value of Encumbered Assets	$ 22,249
Initial Cost to Company, Land	68,366
Initial Cost to Company, Buildings and Improvements	227,763
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	55,411
Total Cost, Land	68,366
Total Cost, Buildings and Improvements	283,174
Total	351,540
Accumulated Depreciation	(50,453)
Net Cost Basis	$ 301,087
Single family homes | Memphis, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	665
Gross Book Value of Encumbered Assets	$ 17,382
Initial Cost to Company, Land	21,920
Initial Cost to Company, Buildings and Improvements	79,247
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	15,509
Total Cost, Land	21,920
Total Cost, Buildings and Improvements	94,756
Total	116,676
Accumulated Depreciation	(23,962)
Net Cost Basis	$ 92,714
Single family homes | Miami, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	184
Gross Book Value of Encumbered Assets	$ 3,462
Initial Cost to Company, Land	2,190
Initial Cost to Company, Buildings and Improvements	21,277
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,308
Total Cost, Land	2,190
Total Cost, Buildings and Improvements	26,585
Total	28,775
Accumulated Depreciation	(8,334)
Net Cost Basis	$ 20,441
Single family homes | Milwaukee, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	109
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	6,446
Initial Cost to Company, Buildings and Improvements	19,163
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,546
Total Cost, Land	6,446
Total Cost, Buildings and Improvements	21,709
Total	28,155
Accumulated Depreciation	(6,898)
Net Cost Basis	$ 21,257
Single family homes | Nashville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,067
Gross Book Value of Encumbered Assets	$ 186,415
Initial Cost to Company, Land	131,691
Initial Cost to Company, Buildings and Improvements	491,360
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	77,099
Total Cost, Land	131,691
Total Cost, Buildings and Improvements	568,459
Total	700,150
Accumulated Depreciation	(120,491)
Net Cost Basis	$ 579,659
Single family homes | Orlando, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,824
Gross Book Value of Encumbered Assets	$ 47,263
Initial Cost to Company, Land	67,956
Initial Cost to Company, Buildings and Improvements	241,508
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	46,129
Total Cost, Land	67,956
Total Cost, Buildings and Improvements	287,637
Total	355,593
Accumulated Depreciation	(64,887)
Net Cost Basis	$ 290,706
Single family homes | Phoenix, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,296
Gross Book Value of Encumbered Assets	$ 56,908
Initial Cost to Company, Land	146,471
Initial Cost to Company, Buildings and Improvements	416,829
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	69,429
Total Cost, Land	146,471
Total Cost, Buildings and Improvements	486,258
Total	632,729
Accumulated Depreciation	(105,579)
Net Cost Basis	$ 527,150
Single family homes | Portland, OR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	184
Gross Book Value of Encumbered Assets	$ 24,820
Initial Cost to Company, Land	13,214
Initial Cost to Company, Buildings and Improvements	23,302
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,817
Total Cost, Land	13,214
Total Cost, Buildings and Improvements	26,119
Total	39,333
Accumulated Depreciation	(6,411)
Net Cost Basis	$ 32,922
Single family homes | Raleigh, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,165
Gross Book Value of Encumbered Assets	$ 214,980
Initial Cost to Company, Land	77,177
Initial Cost to Company, Buildings and Improvements	298,539
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	42,107
Total Cost, Land	77,177
Total Cost, Buildings and Improvements	340,646
Total	417,823
Accumulated Depreciation	(82,877)
Net Cost Basis	$ 334,946
Single family homes | Salt Lake City, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,762
Gross Book Value of Encumbered Assets	$ 160,964
Initial Cost to Company, Land	107,284
Initial Cost to Company, Buildings and Improvements	321,767
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	63,679
Total Cost, Land	107,284
Total Cost, Buildings and Improvements	385,446
Total	492,730
Accumulated Depreciation	(70,843)
Net Cost Basis	$ 421,887
Single family homes | San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,292
Gross Book Value of Encumbered Assets	$ 60,501
Initial Cost to Company, Land	37,964
Initial Cost to Company, Buildings and Improvements	164,091
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	36,017
Total Cost, Land	37,964
Total Cost, Buildings and Improvements	200,108
Total	238,072
Accumulated Depreciation	(39,471)
Net Cost Basis	$ 198,601
Single family homes | Savannah/Hilton Head, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	974
Gross Book Value of Encumbered Assets	$ 42,534
Initial Cost to Company, Land	34,029
Initial Cost to Company, Buildings and Improvements	136,059
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,206
Total Cost, Land	34,029
Total Cost, Buildings and Improvements	153,265
Total	187,294
Accumulated Depreciation	(29,314)
Net Cost Basis	$ 157,980
Single family homes | Seattle, WA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,062
Gross Book Value of Encumbered Assets	$ 28,363
Initial Cost to Company, Land	82,224
Initial Cost to Company, Buildings and Improvements	225,118
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19,894
Total Cost, Land	82,224
Total Cost, Buildings and Improvements	245,012
Total	327,236
Accumulated Depreciation	(35,778)
Net Cost Basis	$ 291,458
Single family homes | Tampa, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,635
Gross Book Value of Encumbered Assets	$ 46,670
Initial Cost to Company, Land	102,913
Initial Cost to Company, Buildings and Improvements	392,682
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	63,823
Total Cost, Land	102,913
Total Cost, Buildings and Improvements	456,505
Total	559,418
Accumulated Depreciation	(95,174)
Net Cost Basis	$ 464,244
Single family homes | Tucson, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	564
Gross Book Value of Encumbered Assets	$ 12,205
Initial Cost to Company, Land	17,147
Initial Cost to Company, Buildings and Improvements	78,229
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	13,389
Total Cost, Land	17,147
Total Cost, Buildings and Improvements	91,618
Total	108,765
Accumulated Depreciation	(17,104)
Net Cost Basis	$ 91,661
Single family homes | Winston Salem, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	846
Gross Book Value of Encumbered Assets	$ 43,695
Initial Cost to Company, Land	21,037
Initial Cost to Company, Buildings and Improvements	103,852
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	14,776
Total Cost, Land	21,037
Total Cost, Buildings and Improvements	118,628
Total	139,665
Accumulated Depreciation	(28,433)
Net Cost Basis	$ 111,232
Properties under development & development land
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	0
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	471,782
Initial Cost to Company, Buildings and Improvements	0
Cost Capitalized Subsequent to Acquisition, Land	77,871
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	332,506
Total Cost, Land	549,653
Total Cost, Buildings and Improvements	332,506
Total	882,159
Accumulated Depreciation	0
Net Cost Basis	$ 882,159
Single-family properties held for sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	659
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	30,289
Initial Cost to Company, Buildings and Improvements	86,602
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,880
Total Cost, Land	30,289
Total Cost, Buildings and Improvements	104,482
Total	134,771
Accumulated Depreciation	(19,864)
Net Cost Basis	$ 114,907

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Change in Total Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in total real estate assets
Balance, end of period	$ 12,337,356
Single family homes
Change in total real estate assets
Balance, beginning of period	9,999,821	$ 9,448,381	$ 9,197,096
Acquisitions and building improvements	1,426,921	689,566	379,466
Dispositions	(95,997)	(208,540)	(233,094)
Write-offs	(23,916)	(20,843)	(12,353)
Impairment	(131)	(1,957)	(3,663)
Reclassifications to single-family properties held for sale, net of dispositions	13,728	93,214	120,929
Balance, end of period	$ 11,320,426	$ 9,999,821	$ 9,448,381

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Change in Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in accumulated depreciation
Balance, end of period	$ (2,092,797)
Building and building improvements
Change in accumulated depreciation
Estimated useful life of asset	30 years
Building and building improvements | Minimum
Change in accumulated depreciation
Estimated useful life of asset	3 years
Building and building improvements | Maximum
Change in accumulated depreciation
Estimated useful life of asset	30 years
Single family homes
Change in accumulated depreciation
Balance, beginning of period	$ (1,754,433)	$ (1,462,105)	$ (1,176,499)
Depreciation	(357,797)	(330,192)	(313,683)
Dispositions	14,990	29,433	28,154
Write-offs	23,916	20,843	12,353
Reclassifications to single-family properties held for sale, net of dispositions	391	(12,412)	(12,430)
Balance, end of period	$ (2,072,933)	$ (1,754,433)	$ (1,462,105)