Apartment Investment and Management (AIV) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
Entity Registrant Name	APARTMENT INVESTMENT & MANAGEMENT CO
Entity Central Index Key	922,864
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		157,022,248
AIMCO PROPERTIES, L.P [Member]
Entity Registrant Name	AIMCO PROPERTIES LP
Entity Central Index Key	926,660
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		164,536,351

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 65,074	$ 61,244
Total assets	6,187,440	6,232,818
LIABILITIES AND EQUITY
Total indebtedness associated with Real Estate portfolio	4,000,000	3,900,000
Total liabilities	4,249,457	4,184,651
Preferred noncontrolling interests/Redeemable Preferred Units	101,606	103,201
Commitments and contingencies (Note 4)
Equity/Partners' Capital:
Perpetual Preferred Stock	125,000	125,000
Common Stock, $0.01 par value, 500,787,260 shares authorized, 157,022,248 and 156,888,381 shares issued/outstanding at March 31, 2017 and December 31, 2016, respectively	1,570	1,569
Additional paid-in capital	4,051,645	4,051,722
Accumulated other comprehensive (loss) income	(118)	1,011
Distributions in excess of earnings	(2,489,961)	(2,385,399)
Total Aimco equity	1,688,136	1,793,903
Noncontrolling interests in consolidated real estate partnerships	153,242	151,121
Common noncontrolling interests in Aimco Operating Partnership	(5,001)	(58)
Total equity	1,836,377	1,944,966
Total liabilities and equity/partners' capital	6,187,440	6,232,818
AIMCO PROPERTIES, L.P [Member]
ASSETS
Cash and cash equivalents	65,074	61,244
Total assets	6,187,440	6,232,818
LIABILITIES AND EQUITY
Total liabilities	4,249,457	4,184,651
Preferred noncontrolling interests/Redeemable Preferred Units	101,606	103,201
Commitments and contingencies (Note 4)
Equity/Partners' Capital:
Preferred units	125,000	125,000
General Partner and Special Limited Partner	1,563,136	1,668,903
Limited Partners	(5,001)	(58)
Partners’ capital attributable to the Aimco Operating Partnership	1,683,135	1,793,845
Noncontrolling interests in consolidated real estate partnerships	153,242	151,121
Total partners’ capital	1,836,377	1,944,966
Total liabilities and equity/partners' capital	6,187,440	6,232,818
Asset Management [Member]
ASSETS
Net real estate	235,549	245,648
Cash and cash equivalents	19,198	15,423
Restricted cash	30,945	33,501
Other assets	57,580	53,271
LIABILITIES AND EQUITY
Non-recourse property debt, net	230,882	236,426
Accrued liabilities and other	58,624	58,430
Deferred income	16,868	18,452
Asset Management [Member] | AIMCO PROPERTIES, L.P [Member]
ASSETS
Net real estate	235,549	245,648
Cash and cash equivalents	19,198	15,423
Restricted cash	30,945	33,501
Other assets	57,580	53,271
LIABILITIES AND EQUITY
Non-recourse property debt, net	230,882	236,426
Accrued liabilities and other	58,624	58,430
Deferred income	16,868	18,452
Aimco Real Estate [Member]
ASSETS
Buildings and improvements	6,181,617	6,106,298
Land	1,824,672	1,824,819
Total real estate	8,006,289	7,931,117
Accumulated depreciation	(2,496,667)	(2,421,357)
Net real estate	5,509,622	5,509,760
Cash and cash equivalents	45,876	45,821
Restricted cash	42,604	36,405
Other assets	246,066	292,989
LIABILITIES AND EQUITY
Non-recourse property debt, net	3,670,454	3,630,276
Revolving credit facility borrowings	69,700	17,930
Total indebtedness associated with Real Estate portfolio	3,740,154	3,648,206
Accrued liabilities and other	202,929	223,137
Aimco Real Estate [Member] | AIMCO PROPERTIES, L.P [Member]
ASSETS
Buildings and improvements	6,181,617	6,106,298
Land	1,824,672	1,824,819
Total real estate	8,006,289	7,931,117
Accumulated depreciation	(2,496,667)	(2,421,357)
Net real estate	5,509,622	5,509,760
Cash and cash equivalents	45,876	45,821
Restricted cash	42,604	36,405
Other assets	246,066	292,989
LIABILITIES AND EQUITY
Non-recourse property debt, net	3,670,454	3,630,276
Revolving credit facility borrowings	69,700	17,930
Total indebtedness associated with Real Estate portfolio	3,740,154	3,648,206
Accrued liabilities and other	$ 202,929	$ 223,137

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	500,787,260	500,787,260
Common Stock, shares issued (in shares)	157,022,248	156,888,381
Common Stock, shares outstanding (in shares)	157,022,248	156,888,381

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUES
Rental and other property revenues	$ 225,228	$ 222,573
Tax credit and transaction revenues	2,691	4,758
Total revenues	246,481	246,239
OPERATING EXPENSES
Property operating expenses	79,626	79,431
Investment management expenses	784	975
Depreciation and amortization	87,168	79,828
General and administrative expenses	10,682	11,935
Other expenses, net	1,738	1,570
Total operating expenses	188,692	182,705
Operating income	57,789	63,534
Interest income	2,192	1,835
Interest expense	(47,882)	(47,634)
Other, net	465	77
Income before income taxes and gain on dispositions	12,564	17,812
Income tax benefit	4,985	5,886
Income before gain on dispositions	17,549	23,698
Gain (loss) on dispositions of real estate, inclusive of tax	(394)	6,187
Net income	17,155	29,885
Noncontrolling interests:
Net income attributable to noncontrolling interests in consolidated real estate partnerships	(951)	(930)
Net income attributable to preferred noncontrolling interests in Aimco Operating Partnership	(1,949)	(1,726)
Net income attributable to common noncontrolling interests in Aimco Operating Partnership	(557)	(1,172)
Net income attributable to noncontrolling interests	(3,457)	(3,828)
Net income attributable to the company	13,698	26,057
Net income attributable to the company's preferred equity holders	(2,148)	(2,757)
Net income attributable to participating securities	(59)	(77)
Net income attributable to the company's common equity holders	$ 11,491	$ 23,223
Earnings attributable to the company per common share/unit
Net income attributable to the company per common share/unit - basic and diluted (in dollars per share/unit)	$ 0.07	$ 0.15
Dividends declared per common share/unit	$ 0.36	$ 0.33
Weighted average number of shares outstanding - basic	156,259	155,791
Weighted average number of shares outstanding - diluted	156,754	156,117
AIMCO PROPERTIES, L.P [Member]
REVENUES
Tax credit and transaction revenues	$ 2,691	$ 4,758
Total revenues	246,481	246,239
OPERATING EXPENSES
Investment management expenses	784	975
Depreciation and amortization	87,168	79,828
General and administrative expenses	10,682	11,935
Other expenses, net	1,738	1,570
Total operating expenses	188,692	182,705
Operating income	57,789	63,534
Interest income	2,192	1,835
Interest expense	(47,882)	(47,634)
Other, net	465	77
Income before income taxes and gain on dispositions	12,564	17,812
Income tax benefit	4,985	5,886
Income before gain on dispositions	17,549	23,698
Gain (loss) on dispositions of real estate, inclusive of tax	(394)	6,187
Net income	17,155	29,885
Noncontrolling interests:
Net income attributable to noncontrolling interests in consolidated real estate partnerships	(951)	(930)
Net income attributable to the company	16,204	28,955
Net income attributable to the company's preferred equity holders	(4,097)	(4,483)
Net income attributable to participating securities	(60)	(77)
Net income attributable to the company's common equity holders	$ 12,047	$ 24,395
Earnings attributable to the company per common share/unit
Net income attributable to the company per common share/unit - basic (in dollars per share/unit)	$ 0.07	$ 0.15
Dividends declared per common share/unit	$ 0.36	$ 0.33
Weighted average number of shares outstanding - basic	163,814	163,639
Weighted average number of shares outstanding - diluted	164,310	163,965
Asset Management [Member]
REVENUES
Rental and other property revenues	$ 18,562	$ 18,908
OPERATING EXPENSES
Property operating expenses	8,694	8,966
Asset Management [Member] | AIMCO PROPERTIES, L.P [Member]
REVENUES
Rental and other property revenues	18,562	18,908
OPERATING EXPENSES
Property operating expenses	8,694	8,966
Aimco Real Estate [Member]
REVENUES
Rental and other property revenues	225,228	222,573
OPERATING EXPENSES
Property operating expenses	79,626	79,431
Aimco Real Estate [Member] | AIMCO PROPERTIES, L.P [Member]
REVENUES
Rental and other property revenues	225,228	222,573
OPERATING EXPENSES
Property operating expenses	$ 79,626	$ 79,431

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 17,155	$ 29,885
Other comprehensive (loss) income:
Unrealized losses on interest rate swaps	(10)	(674)
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss	386	420
Unrealized (losses) gains on investments in debt securities classified as available-for-sale	(1,501)	6,183
Other comprehensive (loss) income	(1,125)	5,929
Comprehensive income	16,030	35,814
Comprehensive (income) loss attributable to noncontrolling interests	(3,460)	(4,148)
Comprehensive income attributable to Aimco/Operating Partnership	12,570	31,666
AIMCO PROPERTIES, L.P [Member]
Net income	17,155	29,885
Other comprehensive (loss) income:
Unrealized losses on interest rate swaps	(10)	(674)
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss	386	420
Unrealized (losses) gains on investments in debt securities classified as available-for-sale	(1,501)	6,183
Other comprehensive (loss) income	(1,125)	5,929
Comprehensive income	16,030	35,814
Comprehensive (income) loss attributable to noncontrolling interests	(1,009)	(969)
Comprehensive income attributable to Aimco/Operating Partnership	$ 15,021	$ 34,845

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 17,155	$ 29,885
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	87,168	79,828
Gain (loss) on dispositions of real estate, inclusive of tax	394	(6,187)
Other adjustments	(3,741)	(8,749)
Net changes in operating assets and operating liabilities	(32,460)	(20,824)
Net cash provided by operating activities	68,516	73,953
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of real estate	(4,995)	(2,275)
Capital expenditures	(82,151)	(79,576)
Proceeds from dispositions of real estate	2,179	9,601
Purchases of corporate assets	(2,810)	(1,764)
Change in restricted cash	1,445	3,234
Other investing activities	94	5,209
Net cash used in investing activities	(86,238)	(65,571)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from non-recourse property debt	68,535	7,766
Principal repayments on non-recourse property debt	(32,026)	(19,179)
Net borrowings on revolving credit facility	51,770	79,080
Payment of dividends to holders of preferred securities	(2,148)	(2,757)
Payment of dividends to holders of Common Stock	(56,328)	(51,523)
Payment of distributions to noncontrolling interests	(5,790)	(6,423)
Purchases and redemptions of noncontrolling interests	(4,628)	(1,867)
Other financing activities	2,167	186
Net cash provided by financing activities	21,552	5,283
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,830	13,665
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	61,244	50,789
CASH AND CASH EQUIVALENTS AT END OF PERIOD	65,074	64,454
AIMCO PROPERTIES, L.P [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	17,155	29,885
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	87,168	79,828
Gain (loss) on dispositions of real estate, inclusive of tax	394	(6,187)
Other adjustments	(3,741)	(8,749)
Net changes in operating assets and operating liabilities	(32,460)	(20,824)
Net cash provided by operating activities	68,516	73,953
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of real estate	(4,995)	(2,275)
Capital expenditures	(82,151)	(79,576)
Proceeds from dispositions of real estate	2,179	9,601
Purchases of corporate assets	(2,810)	(1,764)
Change in restricted cash	1,445	3,234
Other investing activities	94	5,209
Net cash used in investing activities	(86,238)	(65,571)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from non-recourse property debt	68,535	7,766
Principal repayments on non-recourse property debt	(32,026)	(19,179)
Net borrowings on revolving credit facility	51,770	79,080
Payment of dividends to holders of preferred securities	(4,097)	(4,483)
Payment of distributions to General Partner and Special Limited Partner	(56,328)	(51,523)
Payment of distributions to Limited Partners	(2,718)	(2,592)
Payment of distributions to noncontrolling interests	(1,123)	(2,105)
Other financing activities	(2,461)	(1,681)
Net cash provided by financing activities	21,552	5,283
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,830	13,665
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	61,244	50,789
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 65,074	$ 64,454

Organization

Organization	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Apartment Investment and Management Company, or Aimco, is a Maryland corporation incorporated on January 10, 1994. Aimco is a self-administered and self-managed real estate investment trust, or REIT. AIMCO Properties, L.P., or the Aimco Operating Partnership, is a Delaware limited partnership formed on May 16, 1994, to conduct our business, which is focused on the ownership, management, redevelopment and limited development of quality apartment communities located in the largest markets in the United States. Aimco, through its wholly-owned subsidiaries, AIMCO-GP, Inc. and AIMCO-LP Trust, owns a majority of the ownership interests in the Aimco Operating Partnership. Aimco conducts all of its business and owns all of its assets through the Aimco Operating Partnership. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are referred to as OP Units. OP Units include common partnership units and high performance partnership units, which we refer to as common OP Units, as well as partnership preferred units, which we refer to as preferred OP Units. As of March 31, 2017 , after eliminations for units held by consolidated subsidiaries, the Aimco Operating Partnership had 164,650,596 common partnership units and equivalents outstanding. As of March 31, 2017 , Aimco owned 157,022,248 of the common partnership units ( 95.4% of the common partnership units and equivalents) of the Aimco Operating Partnership and Aimco had outstanding an equal number of shares of its Class A Common Stock, which we refer to as Common Stock. Except as the context otherwise requires, “we,” “our” and “us” refer to Aimco, the Aimco Operating Partnership and their consolidated subsidiaries, collectively. As of March 31, 2017 , we owned an equity interest in 141 apartment communiti es with 39,173 apartment homes that comprised our real estate portfolio. Our Real Estate portfolio, which comprises our reportable segment, is diversified by both price point and geography and consists primarily of market rate apartment communities in which we own a substantial interest. We consolidated 137 of these apartment communities with 39,031 apartment homes. As of March 31, 2017 , we also owned nominal ownership positions in partnerships holding 47 low-income housing tax credit apartment communities with 7,098 apartment homes. We provide services to these partnerships and receive fees and other payments in return. Our relationship with these partnerships is different than real estate ownership and is better described as an asset management business, or Asset Management. In accordance with accounting principles generally accepted in the United States of America, or GAAP, we are required to consolidate most of the partnerships and 40 of the apartment communities with 6,411 apartment homes.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The balance sheets of Aimco and the Aimco Operating Partnership at December 31, 2016 , have been derived from their respective audited financial statements at that date, but do not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in Aimco’s and the Aimco Operating Partnership’s combined Annual Report on Form 10-K for the year ended December 31, 2016 . Except where indicated, the footnotes refer to both Aimco and the Aimco Operating Partnership. Effective March 31, 2017 , we modified our condensed consolidated balance sheets to present the assets and liabilities of consolidated partnerships served by our Asset Management business separately from those amounts relating to our Real Estate portfolio. We have similarly modified our condensed consolidated statements of operations to present separately the rental and other property revenues and property operating expenses of consolidated partnerships served by our Asset Management business. We have reclassified these items in the condensed consolidated balance sheets as of December 31, 2016 , and in the condensed consolidated statements of operations for the three months ended March 31, 2016 , to conform to the current presentation. These modifications had no effect on previously reported total assets, total liabilities or net income amounts. Principles of Consolidation Aimco’s accompanying condensed consolidated financial statements include the accounts of Aimco, the Aimco Operating Partnership, and their consolidated subsidiaries. The Aimco Operating Partnership’s condensed consolidated financial statements include the accounts of the Aimco Operating Partnership and its consolidated subsidiaries, including partnerships served by our Asset Management business, which are consolidated in accordance with GAAP, as further discussed in Note 8 . All significant intercompany balances and transactions have been eliminated in consolidation. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are reflected in Aimco’s accompanying balance sheets as noncontrolling interests in the Aimco Operating Partnership. Interests in partnerships consolidated by the Aimco Operating Partnership that are held by third parties are reflected in our accompanying balance sheets as noncontrolling interests in consolidated real estate partnerships. Temporary Equity and Partners’ Capital The following table presents a reconciliation of the Aimco Operating Partnership’s Preferred OP Units from December 31, 2016 to March 31, 2017 . The Preferred OP Units may be redeemed at the holders’ option (as further discussed in Note 5), and therefore are presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands). Balance, December 31, 2016 $ 103,201 Distributions to preferred unitholders (1,949 ) Redemption of preferred units and other (1,595 ) Net income 1,949 Balance, March 31, 2017 $ 101,606 Aimco Equity (including Noncontrolling Interests) The following table presents a reconciliation of Aimco’s consolidated permanent equity accounts from December 31, 2016 to March 31, 2017 (in thousands): Aimco Equity Noncontrolling interests in consolidated real estate partnerships Common noncontrolling interests in Aimco Operating Partnership Total Equity Balance, December 31, 2016 $ 1,793,903 $ 151,121 $ (58 ) $ 1,944,966 Contributions — 2,235 — 2,235 Preferred stock dividends (2,148 ) — — (2,148 ) Common dividends and distributions (56,526 ) (1,123 ) (2,718 ) (60,367 ) Redemptions of common OP Units — — (3,015 ) (3,015 ) Amortization of stock-based compensation cost 2,880 — 153 3,033 Effect of changes in ownership for consolidated entities (3,035 ) — 3,016 (19 ) Cumulative effect of a change in accounting principle (59,586 ) — (2,881 ) (62,467 ) Change in accumulated other comprehensive loss (1,128 ) 58 (55 ) (1,125 ) Other 78 — — 78 Net income 13,698 951 557 15,206 Balance, March 31, 2017 $ 1,688,136 $ 153,242 $ (5,001 ) $ 1,836,377 Refer to the heading Accounting Pronouncements Adopted in the Current Year for further discussion of the cumulative effect of a change in accounting principle. Partners’ Capital attributable to the Aimco Operating Partnership The following table presents a reconciliation of the consolidated partners’ capital balances in permanent capital that are attributable to the Aimco Operating Partnership from December 31, 2016 to March 31, 2017 (in thousands): Partners’ capital attributable to the Aimco Operating Partnership Balance, December 31, 2016 $ 1,793,845 Distributions to preferred units held by Aimco (2,148 ) Distributions to common units held by Aimco (56,526 ) Distributions to common units held by Limited Partners (2,718 ) Redemption of common OP Units (3,015 ) Amortization of Aimco stock-based compensation cost 3,033 Effect of changes in ownership for consolidated entities (19 ) Cumulative effect of a change in accounting principle (62,467 ) Change in accumulated other comprehensive loss (1,183 ) Other 78 Net income 14,255 Balance, March 31, 2017 $ 1,683,135 A separate reconciliation of noncontrolling interests in consolidated real estate partnerships and total partners’ capital for the Aimco Operating Partnership is not presented as these amounts are identical to the corresponding noncontrolling interests in consolidated real estate partnerships and total equity for Aimco, which are presented above. Use of Estimates The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates. Accounting Pronouncements Adopted in the Current Year Effective January 1, 2017, we adopted a new standard issued by the Financial Accounting Standards Board, or FASB, that simplifies the accounting for the income tax consequences of intercompany transfers of assets. Previously, the recognition within the statement of operations of income tax expense or benefit resulting from an intercompany transfer of assets did not occur until the assets affect GAAP income or loss, for example, through depreciation, impairment or upon the sale of the asset to a third-party. Under the new standard, an entity recognizes the income tax expense or benefit from an intercompany transfer of assets when the transfer occurs. We have applied this change on a modified retrospective basis and recorded a cumulative effect adjustment to retained earnings of $62.5 million as of January 1, 2017, representing accumulated unrecognized tax expense from intercompany transfers between the Aimco Operating Partnership and TRS entities. Such amounts were included in other assets within our consolidated balance sheets at December 31, 2016. Also effective January 1, 2017, we adopted guidance that simplifies the accounting for share-based compensation. Under prior practice, tax benefits in excess of those associated with compensation cost recognized in accordance with GAAP, or windfalls, were recorded in equity and tax deficiencies were recorded in equity until previous windfalls had been recouped and then recognized in earnings. Under the new guidance, all of the tax effects related to share-based compensation are recognized through earnings. This guidance is applied to all windfalls and tax deficiencies resulting from settlements occurring after January 1, 2017. The new guidance also requires windfalls to be recorded when they arise. This change in timing of recognition has been applied on a modified retrospective basis. We did not record a cumulative effect adjustment to opening retained earnings on the date of adoption as there were no accumulated windfalls recorded in equity. Compared to prior periods, we may experience incremental volatility in income tax benefit or expense resulting from the recognition in earnings of windfall benefits or deficiencies upon the exercise of stock options and vesting of restricted shares.

Acquisitions, Dispositions and

Acquisitions, Dispositions and Other Significant Transactions	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposals and Other Significant Transactions	Dispositions of Apartment Communities and Assets Held for Sale During the three months ended March 31, 2017 , one of the partnerships served by the Asset Management business sold an apartment community with 52 apartment homes, resulting in a gain of $0.6 million and related tax expense of $0.5 million . We are currently marketing for sale certain apartment communities that are inconsistent with our long-term investment strategy. Additionally, the consolidated partnerships served by our Asset Management business are marketing for sale certain of their apartment communities. At the end of each reporting period, we evaluate whether any consolidated apartment communities meet the criteria to be classified as held for sale. As of March 31, 2017 , one apartment community with 200 apartment homes owned by a partnership served by the Asset Management business was classified as held for sale.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In connection with our redevelopment, development and capital improvement activities, we have entered into various construction-related contracts and we have made commitments to complete redevelopment of certain apartment communities, pursuant to financing or other arrangements. As of March 31, 2017 , our commitments related to these capital activities totaled approximately $86.2 million , most of which we expect to incur during the next 12 months . We enter into certain commitments for future purchases of goods and services in connection with the operations of our apartment communities. Those commitments generally have terms of one year or less and reflect expenditure levels comparable to our historical expenditures. Tax Credit Arrangements For various consolidated partnerships served by our Asset Management business, we are required to manage the partnerships and related apartment communities in compliance with various laws, regulations and contractual provisions that apply to our historic and low-income housing tax credit syndication arrangements. In some instances, noncompliance with applicable requirements could result in projected tax benefits not being realized by the limited partners in these partnerships and would require a refund or reduction of investor capital contributions, which are reported as deferred income in our condensed consolidated balance sheets, until such time as our obligation to deliver tax benefits is relieved. The remaining compliance periods for the tax credit syndication arrangements range from less than one year to eight years . We do not anticipate that any material refunds or reductions of investor capital contributions will be required in connection with these arrangements. Income Taxes In 2014, the Internal Revenue Service initiated an audit of the Aimco Operating Partnership’s 2011 and 2012 tax years. We do not believe the audit will have any material effect on our unrecognized tax benefits, financial condition or results of operations. Legal Matters In addition to the matters described below, we are a party to various legal actions and administrative proceedings arising in the ordinary course of business, some of which are covered by our general liability insurance program, and none of which we expect to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. Limited Partnerships In connection with our acquisitions of interests in real estate partnerships, we are sometimes subject to legal actions, including allegations that such activities may involve breaches of fiduciary duties to the partners of such real estate partnerships or violations of the relevant partnership agreements. We may incur costs in connection with the defense or settlement of such litigation. We believe that we comply with our fiduciary obligations and relevant partnership agreements. Although the outcome of any litigation is uncertain, we do not expect any such legal actions to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. Environmental Various Federal, state and local laws subject apartment community owners or operators to liability for management, and the costs of removal or remediation, of certain potentially hazardous materials that may be present in the land or buildings of an apartment community. Potentially hazardous materials may include polychlorinated biphenyls, petroleum-based fuels, lead-based paint, or asbestos, among other items. Such laws often impose liability without regard to fault or whether the owner or operator knew of, or was responsible for, the presence of such materials. The presence of, or the failure to manage or remediate properly, these materials may adversely affect occupancy at such apartment communities as well as the ability to sell or finance such apartment communities. In addition, governmental agencies may bring claims for costs associated with investigation and remediation actions, damages to natural resources and for potential fines or penalties in connection with such damage or with respect to the improper management of hazardous materials. Moreover, private plaintiffs may potentially make claims for investigation and remediation costs they incur or for personal injury, disease, disability or other infirmities related to the alleged presence of hazardous materials at an apartment community. In addition to potential environmental liabilities or costs associated with our current apartment communities, we may also be responsible for such liabilities or costs associated with communities we acquire or manage in the future, or apartment communities we no longer own or operate. We are engaged in discussions with the Environmental Protection Agency, or EPA, and the Indiana Department of Environmental Management, or IDEM, regarding contaminated groundwater in a residential area in the vicinity of an Indiana apartment community that has not been owned by us since 2008. The contamination allegedly derives from a dry cleaner that operated on our former property, prior to our ownership. We have undertaken a voluntary remediation of the dry cleaner contamination under IDEM’s oversight, and in previous years accrued our share of the then estimated cleanup and abatement costs. However, in September 2016, EPA listed our former community and a number of residential communities in the vicinity on the National Priorities List, or NPL, (i.e. as a Superfund site), and IDEM has formally sought to terminate us from the voluntary remediation program. We have filed a formal appeal with the EPA opposing the listing and already appealed IDEM’s decision to terminate us from the voluntary remediation program. Although the outcome of these processes are uncertain, we do not expect their resolution to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We also have been contacted by regulators and the current owner of a property in Lake Tahoe regarding environmental issues allegedly stemming from the historic operation of a dry cleaner. An entity owned by us was the former general partner of a now-dissolved company that previously owned the dry cleaner site. That entity and the current property owner have been remediating the dry cleaner site since 2009, under the oversight of the Lahontan Regional Water Quality Control Board, or Lahontan. In July 2016, Lahontan sent us, the current property owner and a former operator of the dry cleaner a proposed cleanup and abatement order that rejects technical and legal arguments we previously made to Lahontan, and which if entered, would require all three parties to perform additional groundwater investigation and corrective actions with respect to onsite and offsite contamination. In September, we submitted comments to this proposed order, and no final order has yet been issued. Although the outcome of this process is uncertain, we do not expect its resolution to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We have determined that our legal obligations to remove or remediate certain potentially hazardous materials may be conditional asset retirement obligations, as defined in GAAP. Except in limited circumstances where the asset retirement activities are expected to be performed in connection with a planned construction project or apartment community casualty, we believe that the fair value of our asset retirement obligations cannot be reasonably estimated due to significant uncertainties in the timing and manner of settlement of those obligations. Asset retirement obligations that are reasonably estimable as of March 31, 2017 , are immaterial to our consolidated financial condition, results of operations and cash flows.

Earnings per Share_Unit

Earnings per Share/Unit	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings per Share/Unit	Earnings per Share/Unit Aimco calculates basic earnings per common share based on the weighted average number of shares of Common Stock and participating securities outstanding and calculates diluted earnings per share taking into consideration dilutive common stock equivalents and dilutive convertible securities outstanding during the period. The Aimco Operating Partnership calculates basic earnings per common unit based on the weighted average number of common partnership units and participating securities outstanding and calculates diluted earnings per unit taking into consideration dilutive common unit equivalents and dilutive convertible securities outstanding during the period. Our common stock and common partnership unit equivalents include options to purchase shares of Common Stock, which, if exercised, would result in Aimco’s issuance of additional shares and the Aimco Operating Partnership’s issuance to Aimco of additional common partnership units equal to the number of shares purchased under the options. These equivalents also include unvested total shareholder return-based restricted stock and unit awards that do not meet the definition of participating securities, which would result in an increase in the number of common shares and common partnership units outstanding equal to the number of shares that vest. The effect of these securities was dilutive for the three months ended March 31, 2017 and 2016 , and accordingly has been included in the denominator for calculating diluted earnings per share and unit during these periods. Our time-based restricted stock awards receive dividends similar to shares of Common Stock and common partnership units prior to vesting. These dividends are not forfeited in the event that the restricted stock does not vest. Therefore, the unvested shares and units related to these awards are participating securities. The effect of participating securities is included in basic and diluted earnings per share and unit computations using the two-class method of allocating distributed and undistributed earnings. There were 0.2 million unvested participating shares and units at March 31, 2017 and 2016 . The Aimco Operating Partnership has various classes of preferred OP Units, which may be redeemed at the holders’ option. The Aimco Operating Partnership may redeem these units for cash, or at its option, shares of Common Stock. As of March 31, 2017 , these preferred OP Units were potentially redeemable for approximately 2.3 million shares of Common Stock (based on the period end market price), or cash. The Aimco Operating Partnership has a redemption policy that requires cash settlement of redemption requests for the preferred OP Units, subject to limited exceptions. Accordingly, we have excluded these securities from earnings per share and unit computations and we expect to exclude them in future periods.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Recurring Fair Value Measurements We measure at fair value on a recurring basis our investments in the securitization trust that holds certain of our property debt, which we classify as available for sale, or AFS, securities, and our interest rate swaps, both of which are classified within Level 2 of the GAAP fair value hierarchy. Our investments classified as AFS are presented within other assets in the accompanying condensed consolidated balance sheets. We hold several positions in the securitization trust that pay interest currently and we also hold the first loss position in the securitization trust, which accrues interest over the term of the investment. We are accreting the discount to the $100.9 million face value of the investments into interest income using the effective interest method over the remaining term of the investments, which, as of March 31, 2017 , was approximately 4.2 years. Our amortized cost basis for these investments, which represents the original cost adjusted for interest accretion less interest payments received, was $73.8 million and $72.5 million at March 31, 2017 and December 31, 2016 , respectively. We estimated the fair value of these investments to be $75.8 million and $76.1 million at March 31, 2017 and December 31, 2016 , respectively. We estimate the fair value of these investments using an income and market approach primarily with observable inputs, including yields and other information regarding similar types of investments, and adjusted for certain unobservable inputs specific to these investments. The fair value of the positions that pay interest currently typically moves in an inverse relationship with movements in interest rates. The fair value of the first loss position is primarily correlated to collateral quality and demand for similar subordinate commercial mortgage-backed securities. Certain consolidated partnerships served by our Asset Management business have entered into interest rate swap agreements, which limit exposure to interest rate fluctuations on the partnerships’ variable-rate debt by effectively converting the interest on variable-rate debt to a fixed rate. We estimate the fair value of interest rate swaps using an income approach with primarily observable inputs including information regarding the hedged variable cash flows and forward yield curves relating to the variable interest rates on which the hedged cash flows are based. The following table sets forth a summary of the changes in fair value of these interest rate swaps (in thousands): Three Months Ended March 31, 2017 2016 Beginning balance $ (3,175 ) $ (4,938 ) Unrealized losses included in interest expense (12 ) (11 ) Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 386 420 Unrealized losses included in equity and partners’ capital (10 ) (674 ) Ending balance $ (2,811 ) $ (5,203 ) As of March 31, 2017 and December 31, 2016 , these interest rate swaps had aggregate notional amounts of $49.4 million and $49.6 million , respectively. As of March 31, 2017 , these swaps had a weighted average remaining term of 3.7 years . We have designated these interest rate swaps as cash flow hedges. The fair value of these swaps is presented within accrued liabilities and other in our condensed consolidated balance sheets, and we recognize any changes in the fair value as an adjustment of accumulated other comprehensive loss within equity and partners’ capital to the extent of their effectiveness. If the forward rates at March 31, 2017 remain constant, we estimate that during the next 12 months , we would reclassify approximately $1.2 million of the unrealized losses in accumulated other comprehensive loss into earnings. If market interest rates increase above the 3.44% weighted average fixed rate under these interest rate swaps the consolidated partnerships will benefit from net cash payments due from the counterparties to the interest rate swaps. Fair Value Disclosures We believe that the aggregate fair value of the consolidated amounts of cash and cash equivalents, receivables and payables approximates their aggregate carrying amounts at March 31, 2017 and December 31, 2016 , due to their relatively short-term nature and high probability of realization. The estimated aggregate fair value of consolidated total indebtedness associated with our Real Estate portfolio and the non-recourse property debt of the consolidated partnerships served by our Asset Management was approximately $4.1 billion and $4.0 billion at March 31, 2017 and December 31, 2016 , respectively, as compared to aggregate carrying amounts of $4.0 billion and $3.9 billion , respectively. We estimate the fair value of debt using an income and market approach, including comparison of the contractual terms to observable and unobservable inputs such as market interest rate risk spreads, contractual interest rates, remaining periods to maturity, collateral quality and loan to value ratios on similarly encumbered assets within our portfolio. We classify the fair value of debt within Level 3 of the GAAP valuation hierarchy based on the significance of certain of the unobservable inputs used to estimate their fair values.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Business Segments	Business Segments During the three months ended March 31, 2017 , we revised the information regularly reviewed by our chief executive officer, who is our chief operating decision maker, to assess our operating performance. As of March 31, 2017 , apartment communities are classified as either part of our Real Estate portfolio or those owned through partnerships served by our Asset Management business. Our Real Estate portfolio consisted of 141 apartment communities with 39,173 apartment homes at March 31, 2017 . This portfolio is diversified by both price point and geography and consists primarily of market rate apartment communities. As discussed in Note 8 , as of March 31, 2017 , 19 of these communities with 6,110 apartment homes are owned through partnerships in which we do not own all of the economic interests. Due to this diversity of our economic ownership interests in apartment communities in our Real Estate portfolio, our chief operating decision maker uses proportionate property net operating income to assess the operating performance of our apartment communities. Proportionate property net operating income reflects our share of rental and other property revenues less direct property operating expenses, including real estate taxes, for consolidated apartment communities we own and manage. As of March 31, 2017 , for segment performance evaluation, our Real Estate segment included 137 consolidated apartment communities with 39,031 apartment homes and excluded four apartment communities with 142 apartment homes that we neither manage nor consolidate. As discussed in Note 1 , as of March 31, 2017 , we also owned nominal ownership positions in consolidated partnerships for whom we provide asset management services. These partnerships hold 47 low-income housing tax credit apartment communities with 7,098 apartment homes. Neither the results of operations, nor the assets of these partnerships and apartment communities are quantitatively material; therefore, we have one reportable segment, Real Estate. The results of operations for the three months ended March 31, 2016 , and the segment assets as of December 31, 2016 , shown below have been revised to reflect this change in reportable segments. The following tables present the revenues, net operating income and income before gain on dispositions of our Real Estate segment on a proportionate basis (excluding amounts related to apartment communities sold or classified as held for sale) for the three months ended March 31, 2017 and 2016 (in thousands): Real Estate Proportionate Adjustments (1) Corporate and Amounts Not Allocated to Reportable Segment (2) Consolidated Three Months Ended March 31, 2017 Rental and other property revenues attributable to Real Estate $ 216,975 $ 7,296 $ 957 $ 225,228 Rental and other property revenues of partnerships served by Asset Management business — — 18,562 18,562 Tax credit and transaction revenues — — 2,691 2,691 Total revenues 216,975 7,296 22,210 246,481 Property operating expenses attributable to Real Estate 69,463 2,303 7,860 79,626 Property operating expenses of partnerships served by Asset Management business — — 8,694 8,694 Investment management expenses — — 784 784 Depreciation and amortization — — 87,168 87,168 General and administrative expenses — — 10,682 10,682 Other expenses, net — — 1,738 1,738 Total operating expenses 69,463 2,303 116,926 188,692 Net operating income 147,512 4,993 (94,716 ) 57,789 Other items included in income before gain on dispositions (3) — — (40,240 ) (40,240 ) Income before gain on dispositions $ 147,512 $ 4,993 $ (134,956 ) $ 17,549 Real Estate Proportionate Adjustments (1) Corporate and Amounts Not Allocated to Reportable Segment (2) Consolidated Three Months Ended March 31, 2016 Rental and other property revenues attributable to Real Estate $ 202,064 $ 7,593 $ 12,916 $ 222,573 Rental and other property revenues of partnerships served by Asset Management business — — 18,908 18,908 Tax credit and transaction revenues — — 4,758 4,758 Total revenues 202,064 7,593 36,582 246,239 Property operating expenses attributable to Real Estate 65,247 1,945 12,239 79,431 Property operating expenses of partnerships served by Asset Management business — — 8,966 8,966 Investment management expenses — — 975 975 Depreciation and amortization — — 79,828 79,828 General and administrative expenses — — 11,935 11,935 Other expenses, net — — 1,570 1,570 Total operating expenses 65,247 1,945 115,513 182,705 Net operating income 136,817 5,648 (78,931 ) 63,534 Other items included in income before gain on dispositions (3) — — (39,836 ) (39,836 ) Income before gain on dispositions $ 136,817 $ 5,648 $ (118,767 ) $ 23,698 (1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the results of consolidated apartment communities in our Real Estate segment, which are included in the related consolidated amounts, but excluded from proportionate property net operating income for our segment evaluation. (2) Includes the operating results of apartment communities sold during 2017 or 2016 , or classified as held for sale at March 31, 2017 , and the operating results of apartment communities owned by consolidated partnerships served by our Asset Management business. Corporate and Amounts Not Allocated to Reportable Segment also includes property management revenues (which are included in consolidated rental and other property revenues), property management expenses and casualty gains and losses (which are included in consolidated property operating expenses) and depreciation and amortization, which are property related items that are not part of our segment performance measure. (3) Other items included in income before gain on dispositions primarily consist of interest expense and income tax benefit. For the three months ended March 31, 2017 and 2016 , capital additions related to our Real Estate segment totaled $71.5 million and $69.5 million , respectively. The assets of our reportable segment and the consolidated assets not allocated to our segment are as follows (in thousands): March 31, 2017 December 31, 2016 Real Estate $ 5,559,827 $ 5,545,693 Corporate and other assets (1) 627,613 687,125 Total consolidated assets $ 6,187,440 $ 6,232,818 (1) Includes the assets of consolidated partnerships served by the Asset Management business and apartment communities sold or classified as held for sale as of March 31, 2017 .

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Aimco consolidates the Aimco Operating Partnership, which is a variable interest entity, or VIE, for which Aimco is the primary beneficiary. Aimco, through the Aimco Operating Partnership, consolidates all VIEs for which we are the primary beneficiary. Generally, a VIE is a legal entity in which the equity investors do not have the characteristics of a controlling financial interest or the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. A limited partnership is considered a VIE when the majority of the limited partners unrelated to the general partner possess neither the right to remove the general partner without cause, nor certain rights to participate in the decisions that most significantly affect the financial results of the partnership. In determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide financial support; and the similarity with and significance to our business activities and the business activities of the other investors. Significant judgments related to these determinations include estimates about the current and future fair values and performance of real estate held by these VIEs and general market conditions. All of the VIEs we consolidate own interests in one or more apartment communities. VIEs that own apartment communities we classify as part of our Real Estate segment are typically structured to generate a return for their partners through the operation and ultimate sale of the communities. We are the primary beneficiary in the limited partnerships in which we are the sole decision maker and have a substantial economic interest. All of the partnerships served by our Asset Management business own interests in low-income housing tax credit apartment communities that are structured to provide for the pass-through of tax credits and tax deductions to their partners and are VIEs. We hold a nominal ownership position in these partnerships, generally one percent or less. As general partner in these partnerships, we are the sole decision maker and we receive fees and other payments in return for the asset management and other services we provide and thus share in the economics of the partnerships, and as such, we are the primary beneficiary of these partnerships. The table below summarizes information regarding VIEs consolidated by the Aimco Operating Partnership: March 31, 2017 December 31, 2016 Real Estate portfolio: VIEs with interests in apartment communities 13 13 Apartment communities held by VIEs 19 19 Apartment homes in communities held by VIEs 6,110 6,110 Consolidated partnerships served by the Asset Management business: VIEs with interests in apartment communities 54 54 Apartment communities held by VIEs 38 38 Apartment homes in communities held by VIEs 6,093 6,093 Assets of the Aimco Operating Partnership’s consolidated VIEs must first be used to settle the liabilities of such consolidated VIEs. These consolidated VIEs’ creditors do not have recourse to the general credit of the Aimco Operating Partnership. Assets and liabilities of consolidated VIEs are summarized in the table below (in thousands): March 31, 2017 December 31, 2016 Real Estate portfolio: Assets Net real estate $ 898,849 $ 897,510 Cash and cash equivalents 17,977 15,877 Restricted cash 10,356 7,981 Liabilities Non-recourse property debt secured by Real Estate communities, net 722,036 725,061 Accrued liabilities and other 15,824 14,270 Consolidated partnerships served by the Asset Management business: Assets Real estate, net 225,994 235,920 Cash and cash equivalents 17,564 14,926 Restricted cash 28,869 32,542 Liabilities Non-recourse property debt 223,998 229,509 Accrued liabilities and other 15,139 16,934

Basis of Presentation and Sum15

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The balance sheets of Aimco and the Aimco Operating Partnership at December 31, 2016 , have been derived from their respective audited financial statements at that date, but do not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in Aimco’s and the Aimco Operating Partnership’s combined Annual Report on Form 10-K for the year ended December 31, 2016 . Except where indicated, the footnotes refer to both Aimco and the Aimco Operating Partnership. Effective March 31, 2017 , we modified our condensed consolidated balance sheets to present the assets and liabilities of consolidated partnerships served by our Asset Management business separately from those amounts relating to our Real Estate portfolio. We have similarly modified our condensed consolidated statements of operations to present separately the rental and other property revenues and property operating expenses of consolidated partnerships served by our Asset Management business. We have reclassified these items in the condensed consolidated balance sheets as of December 31, 2016 , and in the condensed consolidated statements of operations for the three months ended March 31, 2016 , to conform to the current presentation. These modifications had no effect on previously reported total assets, total liabilities or net income amounts.
Principles of Consolidation	Principles of Consolidation Aimco’s accompanying condensed consolidated financial statements include the accounts of Aimco, the Aimco Operating Partnership, and their consolidated subsidiaries. The Aimco Operating Partnership’s condensed consolidated financial statements include the accounts of the Aimco Operating Partnership and its consolidated subsidiaries, including partnerships served by our Asset Management business, which are consolidated in accordance with GAAP, as further discussed in Note 8 . All significant intercompany balances and transactions have been eliminated in consolidation. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are reflected in Aimco’s accompanying balance sheets as noncontrolling interests in the Aimco Operating Partnership. Interests in partnerships consolidated by the Aimco Operating Partnership that are held by third parties are reflected in our accompanying balance sheets as noncontrolling interests in consolidated real estate partnerships.
Temporary Equity and Partners' Capital	The Preferred OP Units may be redeemed at the holders’ option (as further discussed in Note 5), and therefore are presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands).
Use of Estimates	Use of Estimates The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Accounting Pronouncements Adopted in the Current Year Effective January 1, 2017, we adopted a new standard issued by the Financial Accounting Standards Board, or FASB, that simplifies the accounting for the income tax consequences of intercompany transfers of assets. Previously, the recognition within the statement of operations of income tax expense or benefit resulting from an intercompany transfer of assets did not occur until the assets affect GAAP income or loss, for example, through depreciation, impairment or upon the sale of the asset to a third-party. Under the new standard, an entity recognizes the income tax expense or benefit from an intercompany transfer of assets when the transfer occurs. We have applied this change on a modified retrospective basis and recorded a cumulative effect adjustment to retained earnings of $62.5 million as of January 1, 2017, representing accumulated unrecognized tax expense from intercompany transfers between the Aimco Operating Partnership and TRS entities. Such amounts were included in other assets within our consolidated balance sheets at December 31, 2016. Also effective January 1, 2017, we adopted guidance that simplifies the accounting for share-based compensation. Under prior practice, tax benefits in excess of those associated with compensation cost recognized in accordance with GAAP, or windfalls, were recorded in equity and tax deficiencies were recorded in equity until previous windfalls had been recouped and then recognized in earnings. Under the new guidance, all of the tax effects related to share-based compensation are recognized through earnings. This guidance is applied to all windfalls and tax deficiencies resulting from settlements occurring after January 1, 2017. The new guidance also requires windfalls to be recorded when they arise. This change in timing of recognition has been applied on a modified retrospective basis. We did not record a cumulative effect adjustment to opening retained earnings on the date of adoption as there were no accumulated windfalls recorded in equity. Compared to prior periods, we may experience incremental volatility in income tax benefit or expense resulting from the recognition in earnings of windfall benefits or deficiencies upon the exercise of stock options and vesting of restricted shares.

Basis of Presentation and Sum16

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Equity [Line Items]
Reconciliation of consolidated temporary equity accounts	The following table presents a reconciliation of the Aimco Operating Partnership’s Preferred OP Units from December 31, 2016 to March 31, 2017 . The Preferred OP Units may be redeemed at the holders’ option (as further discussed in Note 5), and therefore are presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands). Balance, December 31, 2016 $ 103,201 Distributions to preferred unitholders (1,949 ) Redemption of preferred units and other (1,595 ) Net income 1,949 Balance, March 31, 2017 $ 101,606
Reconciliation of consolidated permanent equity accounts	The following table presents a reconciliation of Aimco’s consolidated permanent equity accounts from December 31, 2016 to March 31, 2017 (in thousands): Aimco Equity Noncontrolling interests in consolidated real estate partnerships Common noncontrolling interests in Aimco Operating Partnership Total Equity Balance, December 31, 2016 $ 1,793,903 $ 151,121 $ (58 ) $ 1,944,966 Contributions — 2,235 — 2,235 Preferred stock dividends (2,148 ) — — (2,148 ) Common dividends and distributions (56,526 ) (1,123 ) (2,718 ) (60,367 ) Redemptions of common OP Units — — (3,015 ) (3,015 ) Amortization of stock-based compensation cost 2,880 — 153 3,033 Effect of changes in ownership for consolidated entities (3,035 ) — 3,016 (19 ) Cumulative effect of a change in accounting principle (59,586 ) — (2,881 ) (62,467 ) Change in accumulated other comprehensive loss (1,128 ) 58 (55 ) (1,125 ) Other 78 — — 78 Net income 13,698 951 557 15,206 Balance, March 31, 2017 $ 1,688,136 $ 153,242 $ (5,001 ) $ 1,836,377
AIMCO PROPERTIES, L.P [Member]
Schedule of Equity [Line Items]
Reconciliation of consolidated permanent equity accounts	The following table presents a reconciliation of the consolidated partners’ capital balances in permanent capital that are attributable to the Aimco Operating Partnership from December 31, 2016 to March 31, 2017 (in thousands): Partners’ capital attributable to the Aimco Operating Partnership Balance, December 31, 2016 $ 1,793,845 Distributions to preferred units held by Aimco (2,148 ) Distributions to common units held by Aimco (56,526 ) Distributions to common units held by Limited Partners (2,718 ) Redemption of common OP Units (3,015 ) Amortization of Aimco stock-based compensation cost 3,033 Effect of changes in ownership for consolidated entities (19 ) Cumulative effect of a change in accounting principle (62,467 ) Change in accumulated other comprehensive loss (1,183 ) Other 78 Net income 14,255 Balance, March 31, 2017 $ 1,683,135

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table sets forth a summary of the changes in fair value of these interest rate swaps (in thousands): Three Months Ended March 31, 2017 2016 Beginning balance $ (3,175 ) $ (4,938 ) Unrealized losses included in interest expense (12 ) (11 ) Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 386 420 Unrealized losses included in equity and partners’ capital (10 ) (674 ) Ending balance $ (2,811 ) $ (5,203 )

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Summary information for the reportable segments	The following tables present the revenues, net operating income and income before gain on dispositions of our Real Estate segment on a proportionate basis (excluding amounts related to apartment communities sold or classified as held for sale) for the three months ended March 31, 2017 and 2016 (in thousands): Real Estate Proportionate Adjustments (1) Corporate and Amounts Not Allocated to Reportable Segment (2) Consolidated Three Months Ended March 31, 2017 Rental and other property revenues attributable to Real Estate $ 216,975 $ 7,296 $ 957 $ 225,228 Rental and other property revenues of partnerships served by Asset Management business — — 18,562 18,562 Tax credit and transaction revenues — — 2,691 2,691 Total revenues 216,975 7,296 22,210 246,481 Property operating expenses attributable to Real Estate 69,463 2,303 7,860 79,626 Property operating expenses of partnerships served by Asset Management business — — 8,694 8,694 Investment management expenses — — 784 784 Depreciation and amortization — — 87,168 87,168 General and administrative expenses — — 10,682 10,682 Other expenses, net — — 1,738 1,738 Total operating expenses 69,463 2,303 116,926 188,692 Net operating income 147,512 4,993 (94,716 ) 57,789 Other items included in income before gain on dispositions (3) — — (40,240 ) (40,240 ) Income before gain on dispositions $ 147,512 $ 4,993 $ (134,956 ) $ 17,549 Real Estate Proportionate Adjustments (1) Corporate and Amounts Not Allocated to Reportable Segment (2) Consolidated Three Months Ended March 31, 2016 Rental and other property revenues attributable to Real Estate $ 202,064 $ 7,593 $ 12,916 $ 222,573 Rental and other property revenues of partnerships served by Asset Management business — — 18,908 18,908 Tax credit and transaction revenues — — 4,758 4,758 Total revenues 202,064 7,593 36,582 246,239 Property operating expenses attributable to Real Estate 65,247 1,945 12,239 79,431 Property operating expenses of partnerships served by Asset Management business — — 8,966 8,966 Investment management expenses — — 975 975 Depreciation and amortization — — 79,828 79,828 General and administrative expenses — — 11,935 11,935 Other expenses, net — — 1,570 1,570 Total operating expenses 65,247 1,945 115,513 182,705 Net operating income 136,817 5,648 (78,931 ) 63,534 Other items included in income before gain on dispositions (3) — — (39,836 ) (39,836 ) Income before gain on dispositions $ 136,817 $ 5,648 $ (118,767 ) $ 23,698 (1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the results of consolidated apartment communities in our Real Estate segment, which are included in the related consolidated amounts, but excluded from proportionate property net operating income for our segment evaluation. (2) Includes the operating results of apartment communities sold during 2017 or 2016 , or classified as held for sale at March 31, 2017 , and the operating results of apartment communities owned by consolidated partnerships served by our Asset Management business. Corporate and Amounts Not Allocated to Reportable Segment also includes property management revenues (which are included in consolidated rental and other property revenues), property management expenses and casualty gains and losses (which are included in consolidated property operating expenses) and depreciation and amortization, which are property related items that are not part of our segment performance measure. (3) Other items included in income before gain on dispositions primarily consist of interest expense and income tax benefit.
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	The assets of our reportable segment and the consolidated assets not allocated to our segment are as follows (in thousands): March 31, 2017 December 31, 2016 Real Estate $ 5,559,827 $ 5,545,693 Corporate and other assets (1) 627,613 687,125 Total consolidated assets $ 6,187,440 $ 6,232,818 (1) Includes the assets of consolidated partnerships served by the Asset Management business and apartment communities sold or classified as held for sale as of March 31, 2017 .

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The table below summarizes information regarding VIEs consolidated by the Aimco Operating Partnership: March 31, 2017 December 31, 2016 Real Estate portfolio: VIEs with interests in apartment communities 13 13 Apartment communities held by VIEs 19 19 Apartment homes in communities held by VIEs 6,110 6,110 Consolidated partnerships served by the Asset Management business: VIEs with interests in apartment communities 54 54 Apartment communities held by VIEs 38 38 Apartment homes in communities held by VIEs 6,093 6,093 Assets of the Aimco Operating Partnership’s consolidated VIEs must first be used to settle the liabilities of such consolidated VIEs. These consolidated VIEs’ creditors do not have recourse to the general credit of the Aimco Operating Partnership. Assets and liabilities of consolidated VIEs are summarized in the table below (in thousands): March 31, 2017 December 31, 2016 Real Estate portfolio: Assets Net real estate $ 898,849 $ 897,510 Cash and cash equivalents 17,977 15,877 Restricted cash 10,356 7,981 Liabilities Non-recourse property debt secured by Real Estate communities, net 722,036 725,061 Accrued liabilities and other 15,824 14,270 Consolidated partnerships served by the Asset Management business: Assets Real estate, net 225,994 235,920 Cash and cash equivalents 17,564 14,926 Restricted cash 28,869 32,542 Liabilities Non-recourse property debt 223,998 229,509 Accrued liabilities and other 15,139 16,934

Organization (Details Textual)

Organization (Details Textual)	3 Months Ended
	Mar. 31, 2017UnitsPropertyshares
Organization [Line Items]
Common partnership units and equivalents outstanding | shares	157,022,248
Percentage of the Aimco Operating Partnership's common partnership units and equivalents owned by Aimco	95.40%
AIMCO PROPERTIES, L.P [Member]
Organization [Line Items]
Common partnership units and equivalents outstanding | shares	164,650,596
Asset Management [Member] | Partially Owned Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	47
Number of apartment homes in apartment communities | Units	7,098
Asset Management [Member] | Wholly And Partially Owned Consolidated Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	40
Number of apartment homes in apartment communities | Units	6,411
Aimco Real Estate [Member]
Organization [Line Items]
Number of apartment communities | Property	137
Number of apartment homes in apartment communities | Units	39,031
Aimco Real Estate [Member] | Partially Owned Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	141
Number of apartment homes in apartment communities | Units	39,173
Aimco Real Estate [Member] | Wholly And Partially Owned Consolidated Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	137
Number of apartment homes in apartment communities | Units	39,031

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands	Mar. 31, 2017USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cumulative effect of a change in accounting principle	$ (62,467)

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, December 31, 2016	$ 103,201
Balance, March 31, 2017	101,606
AIMCO PROPERTIES, L.P [Member]
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, December 31, 2016	103,201
Distributions to preferred unitholders	(1,949)
Redemption of preferred units and other	(1,595)
Net income	1,949
Balance, March 31, 2017	$ 101,606

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies (Details 1) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2016	$ 1,944,966
Contributions	2,235
Preferred stock dividends	(2,148)
Common dividends and distributions	(60,367)
Redemptions of common OP Units	(3,015)
Amortization of stock-based compensation cost	3,033
Effect of changes in ownership for consolidated entities	(19)
Cumulative effect of a change in accounting principle	(62,467)
Change in accumulated other comprehensive loss	(1,125)
Other	78
Net income	15,206
Balance, March 31, 2017	1,836,377
Aimco Equity [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2016	1,793,903
Preferred stock dividends	(2,148)
Common dividends and distributions	(56,526)
Amortization of stock-based compensation cost	2,880
Effect of changes in ownership for consolidated entities	(3,035)
Cumulative effect of a change in accounting principle	(59,586)
Change in accumulated other comprehensive loss	(1,128)
Other	78
Net income	13,698
Balance, March 31, 2017	1,688,136
Noncontrolling Interests in Consolidated Real Estate Partnerships [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2016	151,121
Contributions	2,235
Common dividends and distributions	(1,123)
Cumulative effect of a change in accounting principle	0
Change in accumulated other comprehensive loss	58
Net income	951
Balance, March 31, 2017	153,242
Common Noncontrolling Interests in Aimco Operating Partnership [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, December 31, 2016	(58)
Common dividends and distributions	(2,718)
Redemptions of common OP Units	(3,015)
Amortization of stock-based compensation cost	153
Effect of changes in ownership for consolidated entities	3,016
Cumulative effect of a change in accounting principle	(2,881)
Change in accumulated other comprehensive loss	(55)
Net income	557
Balance, March 31, 2017	$ (5,001)

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies (Details 2) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of common OP Units	$ (3,015)
Amortization of Aimco stock-based compensation cost	3,033
Effect of changes in ownership for consolidated entities	(19)
Cumulative effect of a change in accounting principle	62,467
Change in accumulated other comprehensive loss	(1,125)
Other	78
Net income	15,206
AIMCO PROPERTIES, L.P [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance, December 31, 2016	1,793,845
Balance, March 31, 2017	1,683,135
Partners Capital [Member] | AIMCO PROPERTIES, L.P [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance, December 31, 2016	1,793,845
Distributions to preferred units held by Aimco	(2,148)
Distributions to common units held by Aimco	(56,526)
Distributions to common units held by Limited Partners	(2,718)
Redemption of common OP Units	(3,015)
Amortization of Aimco stock-based compensation cost	3,033
Effect of changes in ownership for consolidated entities	(19)
Cumulative effect of a change in accounting principle	(62,467)
Change in accumulated other comprehensive loss	(1,183)
Other	78
Net income	14,255
Balance, March 31, 2017	$ 1,683,135

Acquisitions, Dispositions an25

Acquisitions, Dispositions and Other Significant Transactions (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)UnitsProperty	Dec. 31, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets	$ 6,187,440	$ 6,232,818
Liabilities	4,249,457	4,184,651
Noncontrolling interests in consolidated real estate partnerships	$ 153,242	$ 151,121
Wholly And Partially Owned Consolidated Properties [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of apartment homes in apartment communities | Units	52
Gain on dispositions of real estate, applicable income taxes	$ 500
Gain on dispositions of real estate	$ 600
Number of apartment communities | Property	1
Wholly And Partially Owned Consolidated Properties [Member] | Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of apartment homes in apartment communities | Units	200
Number of apartment communities | Property	1

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Commitments related to development, redevelopment and capital improvement activities [Member]
Long-term Purchase Commitment [Line Items]
Commitments related to capital spending activities	$ 86.2
Time Period of Long-term Purchase Commitment	12 months
Minimum [Member]
Long-term Purchase Commitment [Line Items]
Compliance Period For Low Income Housing Tax Credit Syndication Agreements	1 year
Maximum [Member]
Long-term Purchase Commitment [Line Items]
Compliance Period For Low Income Housing Tax Credit Syndication Agreements	8 years
Maximum [Member] | Commitments related to operations [Member]
Long-term Purchase Commitment [Line Items]
Time Period of Long-term Purchase Commitment	1 year

Earnings per Share_Unit (Detail

Earnings per Share/Unit (Details Textual) - USD ($) $ in Thousands, shares in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Earnings Per Share [Abstract]
Participating securities outstanding (in shares)	0.2		0.2
Preferred noncontrolling interests in Aimco Operating Partnership	$ 101,606	$ 103,201
Number of shares potentially redeemable for (in shares)	2.3

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Interest Rate Swap [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Assets and Liabilities Measured on Recurring Basis Fair value and input reconciliation [Roll Forward]
Cash Flow Hedge Fair Value, Beginning Balance	$ (3,175)	$ (4,938)
Unrealized losses included in interest expense	(12)	(11)
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss	386	420
Unrealized losses included in equity and partners’ capital	(10)	(674)
Cash Flow Hedge Fair Value, Ending Balance	$ (2,811)	$ (5,203)

Fair Value Measurements (Deta29

Fair Value Measurements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of consolidated debt	$ 4,100	$ 4,000
Total indebtedness	4,000	3,900
Cash Flow Hedging [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of interest rate swaps	$ 49.4	49.6
Average Remaining Maturity of Interest Rate Swaps	3 years 8 months
Period For Reclassification Into Earnings	12 months
Amount of unrealized gains (losses) estimated to be reclassified from accumulated other comprehensive loss to earnings during the next 12 months	$ 1.2
Weighted average fixed rate of interest rate swaps	3.44%
Available-for-sale Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Face amount of investment in available-for-sale debt securities	$ 100.9
Excepted Remaining Term of Available For Sale Securities	4 years 2 months
Amortized cost of the investment in available-for-sale debt securities	$ 73.8	72.5
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage-backed securities Available-for-sale, fair value disclosure	$ 75.8	$ 76.1

Business Segments (Details Text

Business Segments (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)SegmentUnitsProperty	Mar. 31, 2016USD ($)	Dec. 31, 2016UnitsProperty
Business Segments (Textual) [Abstract]
Number of reportable segments | Segment	1
Aimco Real Estate [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	137
Number of apartment homes in apartment communities | Units	39,031
Operating Segments [Member] | Aimco Real Estate [Member]
Business Segments (Textual) [Abstract]
Capital additions related to segments | $	$ 71.5	$ 69.5
Partially Owned Properties [Member] | Aimco Real Estate [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	141
Number of apartment homes in apartment communities | Units	39,173
Partially Owned Properties [Member] | Asset Management [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	47
Number of apartment homes in apartment communities | Units	7,098
Unconsolidated Properties [Member] | Aimco Real Estate [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	4
Number of apartment homes in apartment communities | Units	142
Aimco Real Estate [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	19		19
Number of apartment homes in apartment communities | Units	6,110		6,110

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Summary information for the reportable segments
Rental and other property revenues	$ 225,228	$ 222,573
Tax credit and transaction revenues	2,691	4,758
Total revenues	246,481	246,239
Property operating expenses	79,626	79,431
Investment management expenses	784	975
Depreciation and amortization	87,168	79,828
General and administrative expenses	10,682	11,935
Other expenses, net	1,738	1,570
Total operating expenses	188,692	182,705
Net operating income (loss)	57,789	63,534
Other Items included in income before gain on dispositions (4)	(40,240)	(39,836)
Income before gain on dispositions	17,549	23,698
Aimco Real Estate [Member]
Summary information for the reportable segments
Rental and other property revenues	225,228	222,573
Property operating expenses	79,626	79,431
Operating Segments [Member] | Aimco Real Estate [Member]
Summary information for the reportable segments
Rental and other property revenues	216,975	202,064
Total revenues	216,975	202,064
Property operating expenses	69,463	65,247
Total operating expenses	69,463	65,247
Net operating income (loss)	147,512	136,817
Income before gain on dispositions	147,512	136,817
Segment Reconciling Items [Member]
Summary information for the reportable segments
Rental and other property revenues	7,296	7,593
Total revenues	7,296	7,593
Property operating expenses	2,303	1,945
Total operating expenses	2,303	1,945
Net operating income (loss)	4,993	5,648
Income before gain on dispositions	4,993	5,648
Corporate Non-Segment [Member]
Summary information for the reportable segments
Rental and other property revenues	957	12,916
Tax credit and transaction revenues	2,691	4,758
Total revenues	22,210	36,582
Property operating expenses	7,860	12,239
Investment management expenses	784	975
Depreciation and amortization	87,168	79,828
General and administrative expenses	10,682	11,935
Other expenses, net	1,738	1,570
Total operating expenses	116,926	115,513
Net operating income (loss)	(94,716)	(78,931)
Other Items included in income before gain on dispositions (4)	(40,240)	(39,836)
Income before gain on dispositions	(134,956)	(118,767)
Asset Management [Member]
Summary information for the reportable segments
Rental and other property revenues	18,562	18,908
Property operating expenses	8,694	8,966
Asset Management [Member] | Operating Segments [Member] | Aimco Real Estate [Member]
Summary information for the reportable segments
Rental and other property revenues	0	0
Property operating expenses	0	0
Asset Management [Member] | Corporate Non-Segment [Member]
Summary information for the reportable segments
Rental and other property revenues	18,562	18,908
Property operating expenses	$ 8,694	$ 8,966

Business Segments (Details 1)

Business Segments (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total assets	$ 6,187,440	$ 6,232,818
Operating Segments [Member] | Aimco Real Estate [Member]
Segment Reporting Information [Line Items]
Total assets	5,559,827	5,545,693
Corporate Non-Segment [Member]
Segment Reporting Information [Line Items]
Total assets	$ 627,613	$ 687,125

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)EntityUnitsProperty	Dec. 31, 2016USD ($)EntityUnitsProperty	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Variable Interest Entity [Line Items]
Nominal ownership position in low-income housing tax credit partnerships, percentage, up to	1.00%
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 65,074	$ 61,244	$ 64,454	$ 50,789
Aimco Real Estate [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of consolidated variable interest entities | Entity	13	13
Number of apartment communities | Property	19	19
Number of apartment homes owned by VIEs | Units	6,110	6,110
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Real Estate Investment Property, Net	$ 898,849	$ 897,510
Cash and Cash Equivalents, at Carrying Value	17,977	15,877
Restricted cash	10,356	7,981
Secured Debt	722,036	725,061
Accrued liabilities and other	$ 15,824	$ 14,270
Asset Management [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of consolidated variable interest entities | Entity	54	54
Number of apartment communities | Property	38	38
Number of apartment homes owned by VIEs | Units	6,093	6,093
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Real Estate Investment Property, Net	$ 225,994	$ 235,920
Cash and Cash Equivalents, at Carrying Value	17,564	14,926
Restricted cash	28,869	32,542
Secured Debt	223,998	229,509
Accrued liabilities and other	$ 15,139	$ 16,934