Erp Operating LTD Partnership 10-Q 30 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 23, 2021
Document Information [Line Items]
Entity Registrant Name	EQUITY RESIDENTIAL
Entity Central Index Key	0000906107
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	EQR
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		374,457,337
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-12252
Entity Tax Identification Number	13-3675988
Entity Address, Address Line One	Two North Riverside Plaza
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	474-1300
Entity Incorporation, State or Country Code	MD
Title of 12(b) Security	Common Shares of Beneficial Interest,$0.01 Par Value (Equity Residential)
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
ERPOP [Member]
Document Information [Line Items]
Entity Registrant Name	ERP OPERATING LIMITED PARTNERSHIP
Entity Central Index Key	0000931182
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
No Trading Symbol Flag	true
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	0-24920
Entity Tax Identification Number	36-3894853
Entity Address, Address Line One	Two North Riverside Plaza
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	474-1300
Entity Incorporation, State or Country Code	IL
Title of 12(b) Security	7.57% Notes due August 15, 2026(ERP Operating Limited Partnership)
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Land	$ 5,780,705	$ 5,785,367
Depreciable property	21,161,984	20,920,654
Projects under development	372,243	411,134
Land held for development	90,446	86,170
Investment in real estate	27,405,378	27,203,325
Accumulated depreciation	(8,164,287)	(7,859,657)
Investment in real estate, net	19,241,091	19,343,668
Investments in unconsolidated entities	53,364	52,782
Cash and cash equivalents	39,492	42,591
Restricted deposits	353,009	57,137
Right-of-use assets	480,671	499,287
Other assets	296,719	291,426
Total assets	20,464,346	20,286,891
Liabilities:
Mortgage notes payable, net	2,280,251	2,293,890
Notes, net	5,338,671	5,335,536
Line of credit and commercial paper	631,770	414,830
Accounts payable and accrued expenses	114,288	107,366
Accrued interest payable	65,814	65,896
Lease liabilities	314,379	329,130
Other liabilities	341,817	345,064
Security deposits	62,228	60,480
Distributions payable	232,958	232,262
Total liabilities	9,382,176	9,184,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	440,123	338,951
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2021 and December 31, 2020	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 374,354,830 shares issued and outstanding as of June 30, 2021 and 372,302,000 shares issued and outstanding as of December 31, 2020	3,744	3,723
Paid in capital	9,110,121	9,128,599
Retained earnings	1,321,875	1,399,715
Accumulated other comprehensive income (loss)	(39,029)	(43,666)
Total shareholders’ equity	10,433,991	10,525,651
Noncontrolling Interests:
Operating Partnership	205,691	233,162
Partially Owned Properties	2,365	4,673
Total Noncontrolling Interests	208,056	237,835
Total equity	10,642,047	10,763,486
Total liabilities and equity/capital	$ 20,464,346	$ 20,286,891

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	745,600	745,600
Preferred Stock, Shares Outstanding	745,600	745,600
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	374,354,830	372,302,000
Common Stock, Shares, Outstanding	374,354,830	372,302,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUES
Rental income	$ 598,059	$ 653,532	$ 1,195,661	$ 1,335,837
EXPENSES
Property and maintenance	107,746	104,452	224,800	220,268
Real estate taxes and insurance	97,401	95,038	200,871	192,770
Property management	24,455	23,608	50,585	51,317
General and administrative	14,678	11,835	30,061	26,353
Depreciation	200,673	205,976	400,635	418,398
Total expenses	444,953	440,909	906,952	909,106
Net gain (loss) on sales of real estate properties	223,738	144,266	223,695	352,243
Operating income	376,844	356,889	512,404	778,974
Interest and other income	24,104	1,511	24,320	3,471
Other expenses	(3,342)	(1,694)	(7,452)	(4,227)
Interest:
Expense incurred, net	(67,124)	(81,885)	(134,482)	(167,475)
Amortization of deferred financing costs	(1,939)	(2,111)	(4,124)	(4,152)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	328,543	272,710	390,666	606,591
Income and other tax (expense) benefit	(242)	(187)	(395)	(240)
Income (loss) from investments in unconsolidated entities	(261)	(1,042)	(1,872)	(2,199)
Net gain (loss) on sales of land parcels			5
Net income	328,040	271,481	388,404	604,152
Net (income) loss attributable to Noncontrolling Interests:
Operating Partnership	(10,913)	(9,713)	(13,056)	(21,248)
Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Net income attributable to controlling interests	316,386	260,888	373,925	569,494
Preferred distributions	(772)	(772)	(1,545)	(1,545)
Net income available to Common Shares	$ 315,614	$ 260,116	$ 372,380	$ 567,949
Earnings per share – basic:
Net income available to Common Shares	$ 0.84	$ 0.70	$ 1	$ 1.53
Weighted average Common Shares outstanding	373,812	371,795	373,050	371,689
Earnings per share – diluted:
Net income available to Common Shares	$ 0.84	$ 0.70	$ 1	$ 1.53
Weighted average Common Shares outstanding	387,820	385,913	387,367	386,272

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Comprehensive income:
Net income	$ 328,040	$ 271,481	$ 388,404	$ 604,152
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period		(223)		(1,190)
Losses reclassified into earnings from other comprehensive income	2,334	5,764	4,637	11,398
Other comprehensive income (loss)	2,334	5,541	4,637	10,208
Comprehensive income	330,374	277,022	393,041	614,360
Comprehensive (income) attributable to Noncontrolling Interests	(11,732)	(10,792)	(14,641)	(35,026)
Comprehensive income attributable to controlling interests	$ 318,642	$ 266,230	$ 378,400	$ 579,334

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 388,404	$ 604,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	400,635	418,398
Amortization of deferred financing costs	4,124	4,152
Amortization of above/below market lease intangibles	(154)	(35)
Amortization of discounts and premiums on debt	2,593	2,553
Amortization of deferred settlements on derivative instruments	4,631	11,392
Amortization of right-of-use assets	7,308	5,892
Write-off of pursuit costs	2,647	3,278
(Income) loss from investments in unconsolidated entities	1,872	2,199
Distributions from unconsolidated entities – return on capital		100
Net (gain) loss on sales of real estate properties	(223,695)	(352,243)
Net (gain) loss on sales of land parcels	(5)
Realized/unrealized (gain) loss on derivative instruments		25
Realized (gain) loss on sale of investment securities	(23,432)
Compensation paid with Company Common Shares	16,077	13,475
Other operating activities, net		1,805
Changes in assets and liabilities:
(Increase) decrease in other assets	(4,462)	(61,422)
Increase (decrease) in accounts payable and accrued expenses	6,514	5,954
Increase (decrease) in accrued interest payable	(82)	737
Increase (decrease) in lease liabilities	(3,211)	(1,199)
Increase (decrease) in other liabilities	(5,387)	(18,070)
Increase (decrease) in security deposits	1,748	(6,057)
Net cash provided by operating activities	576,125	635,086
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(281,426)
Investment in real estate – development/other	(125,156)	(95,215)
Capital expenditures to real estate	(66,443)	(61,265)
Non-real estate capital additions	(1,042)	(15,536)
Interest capitalized for real estate under development	(8,176)	(4,102)
Proceeds from disposition of real estate, net	406,922	747,600
Investments in unconsolidated entities	(4,491)	(5,626)
Distributions from unconsolidated entities – return of capital	4
Purchase of investment securities and other investments	(166,945)	(509)
Proceeds from sale of investment securities	191,398
Net cash provided by (used for) investing activities	(55,355)	565,347
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(362)	(2,907)
Mortgage notes payable, net:
Proceeds	47,759	495,145
Lump sum payoffs	(59,880)	(91,500)
Scheduled principal repayments	(3,713)	(3,873)
Line of credit and commercial paper:
Line of credit proceeds		1,870,000
Line of credit repayments		(1,890,000)
Commercial paper proceeds	2,819,940	6,726,167
Commercial paper repayments	(2,603,000)	(7,724,000)
Proceeds from (payments on) settlement of derivative instruments		(1,215)
Finance ground lease principal payments	(232)
Proceeds from Employee Share Purchase Plan (ESPP)	2,667	2,359
Proceeds from exercise of options	39,623	11,322
Other financing activities, net	(31)	(31)
Contributions – Noncontrolling Interests – Partially Owned Properties		341
Contributions – Noncontrolling Interests – Operating Partnership		12
Distributions:
Common Shares	(448,983)	(435,427)
Preferred Shares	(1,545)	(1,545)
Noncontrolling Interests – Operating Partnership	(16,540)	(16,478)
Noncontrolling Interests – Partially Owned Properties	(3,700)	(10,269)
Net cash provided by (used for) financing activities	(227,997)	(1,071,899)
Net increase (decrease) in cash and cash equivalents and restricted deposits	292,773	128,534
Cash and cash equivalents and restricted deposits, beginning of period	99,728	116,999
Cash and cash equivalents and restricted deposits, end of period	392,501	245,533
Cash and cash equivalents	39,492	187,416
Restricted deposits	353,009	58,117
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	126,742	148,164
Net cash paid (received) for income and other taxes	888	428
Amortization of deferred financing costs:
Investment in real estate, net	(100)	(120)
Other assets	1,169	1,169
Mortgage notes payable, net	1,139	876
Notes, net	1,916	2,227
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	1,374	1,191
Notes, net	1,219	1,362
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	4,637	11,398
Write-off of pursuit costs:
Investment in real estate, net	2,314	3,122
Other assets	317	140
Accounts payable and accrued expenses	16	16
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,216	1,554
Other liabilities	656	645
Realized/unrealized (gain) loss on derivative instruments:
Other liabilities		1,215
Accumulated other comprehensive income		(1,190)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(3,231)	(4,726)
Other liabilities	(1,260)	(900)
Debt financing costs:
Other assets	(44)	(215)
Mortgage notes payable, net	(318)	$ (2,692)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	11,308
Lease liabilities	(11,308)
Non-cash share distribution from unconsolidated entities:
Investments in unconsolidated entities	1,429
Other assets	$ (1,429)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	PREFERRED SHARES	COMMON SHARES, $0.01 PAR VALUE	PAID IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	DISTRIBUTIONS	OPERATING PARTNERSHIP	PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2019		$ 37,280	$ 3,717	$ 8,965,577	$ 1,386,495	$ (77,563)
Balance, beginning of year at Dec. 31, 2019								$ 227,837	$ 1,183
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares			1	3,855
Exercise of share options			2	11,320
Employee Share Purchase Plan (ESPP)				2,359
Share-based employee compensation expense:
Issuance of restricted units/shares			2	7,252				12
Share options				1,293
ESPP discount				416
Supplemental Executive Retirement Plan (SERP)				(506)
Change in market value of Redeemable Noncontrolling Interests –Operating Partnership	$ (128,753)			128,753
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(1,987)				1,987
PAID IN CAPITAL
Conversion of OP Units into Common Shares			1	3,855
Exercise of share options			2	11,320
Employee Share Purchase Plan (ESPP)				2,359
RETAINED EARNINGS
Net income attributable to controlling interests	569,494				569,494
Common Share distributions					(448,750)
Preferred Share distributions					(1,545)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	(1,190)					(1,190)
Losses reclassified into earnings from other comprehensive income	(11,398)					11,398
DISTRIBUTIONS
Distributions declared per Common Share outstanding							$ 1.205
NONCONTROLLING INTERESTS
Issuance of restricted units/shares			2	7,252				12
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(3,856)
Equity compensation associated with Noncontrolling Interests								7,026
Net income attributable to Noncontrolling Interests	21,248							21,248	13,410
Distributions to Noncontrolling Interests								(17,037)	(10,300)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	2,048							(2,048)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(1,987)				1,987
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	21,248							21,248	13,410
Contributions by Noncontrolling Interests									341
Distributions to Noncontrolling Interests								(17,037)	(10,300)
Balance, end of period at Jun. 30, 2020		37,280	3,722	9,118,332	1,505,694	(67,355)
Balance, end of period at Jun. 30, 2020								235,169	4,634
Balance, beginning of year at Mar. 31, 2020		37,280	3,721	9,092,441	1,469,821	(72,896)
Balance, beginning of year at Mar. 31, 2020								235,580	4,739
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares			1	2,011
Exercise of share options				171
Employee Share Purchase Plan (ESPP)				1,490
Share-based employee compensation expense:
Issuance of restricted units/shares				3,231
Share options				623
ESPP discount				263
Supplemental Executive Retirement Plan (SERP)				(655)
Change in market value of Redeemable Noncontrolling Interests –Operating Partnership				17,304
Adjustment for Noncontrolling Interests ownership in Operating Partnership				1,453				(1,453)
PAID IN CAPITAL
Conversion of OP Units into Common Shares			1	2,011
Exercise of share options				171
Employee Share Purchase Plan (ESPP)				1,490
RETAINED EARNINGS
Net income attributable to controlling interests	260,888				260,888
Common Share distributions					(224,243)
Preferred Share distributions					(772)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	(223)					(223)
Losses reclassified into earnings from other comprehensive income	(5,764)					5,764
DISTRIBUTIONS
Distributions declared per Common Share outstanding							0.6025
NONCONTROLLING INTERESTS
Issuance of restricted units/shares				3,231
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(2,012)
Equity compensation associated with Noncontrolling Interests								1,959
Net income attributable to Noncontrolling Interests	9,713							9,713	880
Distributions to Noncontrolling Interests								(7,961)	(985)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership								(657)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				1,453				(1,453)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	9,713							9,713	880
Distributions to Noncontrolling Interests								(7,961)	(985)
Balance, end of period at Jun. 30, 2020		37,280	3,722	9,118,332	1,505,694	(67,355)
Balance, end of period at Jun. 30, 2020								235,169	4,634
Balance, beginning of year at Dec. 31, 2020	10,525,651	37,280	3,723	9,128,599	1,399,715	(43,666)
Balance, beginning of year at Dec. 31, 2020	237,835							233,162	4,673
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares			11	66,649
Exercise of share options			8	39,615
Employee Share Purchase Plan (ESPP)			1	2,666
Share-based employee compensation expense:
Issuance of restricted units/shares			1	4,813
Share options				1,976
ESPP discount				633
Supplemental Executive Retirement Plan (SERP)				(2,057)
Change in market value of Redeemable Noncontrolling Interests –Operating Partnership	101,966			(101,966)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(30,807)				30,807
PAID IN CAPITAL
Conversion of OP Units into Common Shares			11	66,649
Exercise of share options			8	39,615
Employee Share Purchase Plan (ESPP)			1	2,666
RETAINED EARNINGS
Net income attributable to controlling interests	373,925				373,925
Common Share distributions					(450,220)
Preferred Share distributions					(1,545)
Accumulated other comprehensive income (loss) - derivative instruments:
Losses reclassified into earnings from other comprehensive income	(4,637)					4,637
DISTRIBUTIONS
Distributions declared per Common Share outstanding							1.205
NONCONTROLLING INTERESTS
Issuance of restricted units/shares			1	4,813
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(66,660)
Equity compensation associated with Noncontrolling Interests								10,531
Net income attributable to Noncontrolling Interests	13,056							13,056	1,423
Distributions to Noncontrolling Interests								(15,999)	(3,731)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(794)							794
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(30,807)				30,807
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	13,056							13,056	1,423
Distributions to Noncontrolling Interests								(15,999)	(3,731)
Balance, end of period at Jun. 30, 2021	10,433,991	37,280	3,744	9,110,121	1,321,875	(39,029)
Balance, end of period at Jun. 30, 2021	208,056							205,691	2,365
Balance, beginning of year at Mar. 31, 2021		37,280	3,729	9,083,346	1,231,808	(41,363)
Balance, beginning of year at Mar. 31, 2021								234,969	2,472
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares			11	66,649
Exercise of share options			3	16,738
Employee Share Purchase Plan (ESPP)			1	935
Share-based employee compensation expense:
Issuance of restricted units/shares				2,540
Share options				988
ESPP discount				189
Supplemental Executive Retirement Plan (SERP)				(828)
Change in market value of Redeemable Noncontrolling Interests –Operating Partnership				(29,010)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(31,426)				31,426
PAID IN CAPITAL
Conversion of OP Units into Common Shares			11	66,649
Exercise of share options			3	16,738
Employee Share Purchase Plan (ESPP)			1	935
RETAINED EARNINGS
Net income attributable to controlling interests	316,386				316,386
Common Share distributions					(225,547)
Preferred Share distributions					(772)
Accumulated other comprehensive income (loss) - derivative instruments:
Losses reclassified into earnings from other comprehensive income	(2,334)					2,334
DISTRIBUTIONS
Distributions declared per Common Share outstanding							$ 0.6025
NONCONTROLLING INTERESTS
Issuance of restricted units/shares				2,540
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(66,660)
Equity compensation associated with Noncontrolling Interests								4,043
Net income attributable to Noncontrolling Interests	10,913							10,913	741
Distributions to Noncontrolling Interests								(7,410)	(848)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership								(1,590)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				(31,426)				31,426
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	10,913							10,913	741
Distributions to Noncontrolling Interests								(7,410)	(848)
Balance, end of period at Jun. 30, 2021	10,433,991	$ 37,280	$ 3,744	$ 9,110,121	$ 1,321,875	$ (39,029)
Balance, end of period at Jun. 30, 2021	$ 208,056							$ 205,691	$ 2,365

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Statement Of Stockholders Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED BALANCE SHEETS OF

CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Land	$ 5,780,705	$ 5,785,367
Depreciable property	21,161,984	20,920,654
Projects under development	372,243	411,134
Land held for development	90,446	86,170
Investment in real estate	27,405,378	27,203,325
Accumulated depreciation	(8,164,287)	(7,859,657)
Investment in real estate, net	19,241,091	19,343,668
Investments in unconsolidated entities	53,364	52,782
Cash and cash equivalents	39,492	42,591
Restricted deposits	353,009	57,137
Right-of-use assets	480,671	499,287
Other assets	296,719	291,426
Total assets	20,464,346	20,286,891
Liabilities:
Mortgage notes payable, net	2,280,251	2,293,890
Notes, net	5,338,671	5,335,536
Line of credit and commercial paper	631,770	414,830
Accounts payable and accrued expenses	114,288	107,366
Accrued interest payable	65,814	65,896
Lease liabilities	314,379	329,130
Other liabilities	341,817	345,064
Security deposits	62,228	60,480
Distributions payable	232,958	232,262
Total liabilities	9,382,176	9,184,454
Commitments and contingencies
Redeemable Limited Partners	440,123	338,951
Partners’ Capital:
Accumulated other comprehensive income (loss)	(39,029)	(43,666)
Noncontrolling Interests – Partially Owned Properties	2,365	4,673
Total liabilities and equity/capital	20,464,346	20,286,891
ERPOP [Member]
ASSETS
Land	5,780,705	5,785,367
Depreciable property	21,161,984	20,920,654
Projects under development	372,243	411,134
Land held for development	90,446	86,170
Investment in real estate	27,405,378	27,203,325
Accumulated depreciation	(8,164,287)	(7,859,657)
Investment in real estate, net	19,241,091	19,343,668
Investments in unconsolidated entities	53,364	52,782
Cash and cash equivalents	39,492	42,591
Restricted deposits	353,009	57,137
Right-of-use assets	480,671	499,287
Other assets	296,719	291,426
Total assets	20,464,346	20,286,891
Liabilities:
Mortgage notes payable, net	2,280,251	2,293,890
Notes, net	5,338,671	5,335,536
Line of credit and commercial paper	631,770	414,830
Accounts payable and accrued expenses	114,288	107,366
Accrued interest payable	65,814	65,896
Lease liabilities	314,379	329,130
Other liabilities	341,817	345,064
Security deposits	62,228	60,480
Distributions payable	232,958	232,262
Total liabilities	9,382,176	9,184,454
Commitments and contingencies
Redeemable Limited Partners	440,123	338,951
Partners’ Capital:
Preference Units	37,280	37,280
General Partner	10,435,740	10,532,037
Limited Partners	205,691	233,162
Accumulated other comprehensive income (loss)	(39,029)	(43,666)
Total partners’ capital	10,639,682	10,758,813
Noncontrolling Interests – Partially Owned Properties	2,365	4,673
Total capital	10,642,047	10,763,486
Total liabilities and equity/capital	$ 20,464,346	$ 20,286,891

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUES
Rental income	$ 598,059	$ 653,532	$ 1,195,661	$ 1,335,837
EXPENSES
Property and maintenance	107,746	104,452	224,800	220,268
Real estate taxes and insurance	97,401	95,038	200,871	192,770
Property management	24,455	23,608	50,585	51,317
General and administrative	14,678	11,835	30,061	26,353
Depreciation	200,673	205,976	400,635	418,398
Total expenses	444,953	440,909	906,952	909,106
Net gain (loss) on sales of real estate properties	223,738	144,266	223,695	352,243
Operating income	376,844	356,889	512,404	778,974
Interest and other income	24,104	1,511	24,320	3,471
Other expenses	(3,342)	(1,694)	(7,452)	(4,227)
Interest:
Expense incurred, net	(67,124)	(81,885)	(134,482)	(167,475)
Amortization of deferred financing costs	(1,939)	(2,111)	(4,124)	(4,152)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	328,543	272,710	390,666	606,591
Income and other tax (expense) benefit	(242)	(187)	(395)	(240)
Income (loss) from investments in unconsolidated entities	(261)	(1,042)	(1,872)	(2,199)
Net gain (loss) on sales of land parcels			5
Net income	328,040	271,481	388,404	604,152
Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Net income attributable to controlling interests	$ 316,386	$ 260,888	$ 373,925	$ 569,494
Earnings per Unit – basic:
Net income available to Units	$ 0.84	$ 0.70	$ 1	$ 1.53
Earnings per Unit – diluted:
Net income available to Units	$ 0.84	$ 0.70	$ 1	$ 1.53
Weighted average Units outstanding	387,820	385,913	387,367	386,272
ERPOP [Member]
REVENUES
Rental income	$ 598,059	$ 653,532	$ 1,195,661	$ 1,335,837
EXPENSES
Property and maintenance	107,746	104,452	224,800	220,268
Real estate taxes and insurance	97,401	95,038	200,871	192,770
Property management	24,455	23,608	50,585	51,317
General and administrative	14,678	11,835	30,061	26,353
Depreciation	200,673	205,976	400,635	418,398
Total expenses	444,953	440,909	906,952	909,106
Net gain (loss) on sales of real estate properties	223,738	144,266	223,695	352,243
Operating income	376,844	356,889	512,404	778,974
Interest and other income	24,104	1,511	24,320	3,471
Other expenses	(3,342)	(1,694)	(7,452)	(4,227)
Interest:
Expense incurred, net	(67,124)	(81,885)	(134,482)	(167,475)
Amortization of deferred financing costs	(1,939)	(2,111)	(4,124)	(4,152)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	328,543	272,710	390,666	606,591
Income and other tax (expense) benefit	(242)	(187)	(395)	(240)
Income (loss) from investments in unconsolidated entities	(261)	(1,042)	(1,872)	(2,199)
Net gain (loss) on sales of land parcels			5
Net income	328,040	271,481	388,404	604,152
Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Net income attributable to controlling interests	327,299	270,601	386,981	590,742
ALLOCATION OF NET INCOME:
Preference Units	772	772	1,545	1,545
General Partner	315,614	260,116	372,380	567,949
Limited Partners	10,913	9,713	13,056	21,248
Net income available to Units	$ 326,527	$ 269,829	$ 385,436	$ 589,197
Earnings per Unit – basic:
Net income available to Units	$ 0.84	$ 0.70	$ 1	$ 1.53
Weighted average Units outstanding	385,856	384,818	385,594	384,702
Earnings per Unit – diluted:
Net income available to Units	$ 0.84	$ 0.70	$ 1	$ 1.53
Weighted average Units outstanding	387,820	385,913	387,367	386,272

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Comprehensive income:
Net income	$ 328,040	$ 271,481	$ 388,404	$ 604,152
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period		(223)		(1,190)
Losses reclassified into earnings from other comprehensive income	2,334	5,764	4,637	11,398
Other comprehensive income (loss)	2,334	5,541	4,637	10,208
Comprehensive income	330,374	277,022	393,041	614,360
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(11,732)	(10,792)	(14,641)	(35,026)
Comprehensive income attributable to controlling interests	318,642	266,230	378,400	579,334
ERPOP [Member]
Comprehensive income:
Net income	328,040	271,481	388,404	604,152
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period		(223)		(1,190)
Losses reclassified into earnings from other comprehensive income	2,334	5,764	4,637	11,398
Other comprehensive income (loss)	2,334	5,541	4,637	10,208
Comprehensive income	330,374	277,022	393,041	614,360
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Comprehensive income attributable to controlling interests	$ 329,633	$ 276,142	$ 391,618	$ 600,950

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 388,404	$ 604,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	400,635	418,398
Amortization of deferred financing costs	4,124	4,152
Amortization of above/below market lease intangibles	(154)	(35)
Amortization of discounts and premiums on debt	2,593	2,553
Amortization of deferred settlements on derivative instruments	4,631	11,392
Amortization of right-of-use assets	7,308	5,892
Write-off of pursuit costs	2,647	3,278
(Income) loss from investments in unconsolidated entities	1,872	2,199
Distributions from unconsolidated entities – return on capital		100
Net (gain) loss on sales of real estate properties	(223,695)	(352,243)
Net (gain) loss on sales of land parcels	(5)
Realized/unrealized (gain) loss on derivative instruments		25
Realized (gain) loss on sale of investment securities	(23,432)
Compensation paid with Company Common Shares	16,077	13,475
Other operating activities, net		1,805
Changes in assets and liabilities:
(Increase) decrease in other assets	(4,462)	(61,422)
Increase (decrease) in accounts payable and accrued expenses	6,514	5,954
Increase (decrease) in accrued interest payable	(82)	737
Increase (decrease) in lease liabilities	(3,211)	(1,199)
Increase (decrease) in other liabilities	(5,387)	(18,070)
Increase (decrease) in security deposits	1,748	(6,057)
Net cash provided by operating activities	576,125	635,086
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(281,426)
Investment in real estate – development/other	(125,156)	(95,215)
Capital expenditures to real estate	(66,443)	(61,265)
Non-real estate capital additions	(1,042)	(15,536)
Interest capitalized for real estate under development	(8,176)	(4,102)
Proceeds from disposition of real estate, net	406,922	747,600
Investments in unconsolidated entities	(4,491)	(5,626)
Distributions from unconsolidated entities – return of capital	4
Purchase of investment securities and other investments	(166,945)	(509)
Proceeds from sale of investment securities	191,398
Net cash provided by (used for) investing activities	(55,355)	565,347
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(362)	(2,907)
Mortgage notes payable, net:
Proceeds	47,759	495,145
Lump sum payoffs	(59,880)	(91,500)
Scheduled principal repayments	(3,713)	(3,873)
Line of credit and commercial paper:
Line of credit proceeds		1,870,000
Line of credit repayments		(1,890,000)
Commercial paper proceeds	2,819,940	6,726,167
Commercial paper repayments	(2,603,000)	(7,724,000)
Proceeds from (payments on) settlement of derivative instruments		(1,215)
Finance ground lease principal payments	(232)
Proceeds from Employee Share Purchase Plan (ESPP)	2,667	2,359
Proceeds from exercise of EQR options	39,623	11,322
Other financing activities, net	(31)	(31)
Contributions – Noncontrolling Interests – Partially Owned Properties		341
Contributions – Limited Partners		12
Distributions:
OP Units – General Partner	(448,983)	(435,427)
Preference Units	(1,545)	(1,545)
OP Units – Limited Partners	(16,540)	(16,478)
Noncontrolling Interests – Partially Owned Properties	(3,700)	(10,269)
Net cash provided by (used for) financing activities	(227,997)	(1,071,899)
Net increase (decrease) in cash and cash equivalents and restricted deposits	292,773	128,534
Cash and cash equivalents and restricted deposits, beginning of period	99,728	116,999
Cash and cash equivalents and restricted deposits, end of period	392,501	245,533
Cash and cash equivalents	39,492	187,416
Restricted deposits	353,009	58,117
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	126,742	148,164
Net cash paid (received) for income and other taxes	888	428
Amortization of deferred financing costs:
Investment in real estate, net	(100)	(120)
Other assets	1,169	1,169
Mortgage notes payable, net	1,139	876
Notes, net	1,916	2,227
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	1,374	1,191
Notes, net	1,219	1,362
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	4,637	11,398
Write-off of pursuit costs:
Investment in real estate, net	2,314	3,122
Other assets	317	140
Accounts payable and accrued expenses	16	16
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,216	1,554
Other liabilities	656	645
Realized/unrealized (gain) loss on derivative instruments:
Other liabilities		1,215
Accumulated other comprehensive income		(1,190)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(3,231)	(4,726)
Other liabilities	(1,260)	(900)
Debt financing costs:
Other assets	(44)	(215)
Mortgage notes payable, net	(318)	(2,692)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	11,308
Lease liabilities	(11,308)
Non-cash share distribution from unconsolidated entities:
Investments in unconsolidated entities	1,429
Other assets	(1,429)
ERPOP [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	388,404	604,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	400,635	418,398
Amortization of deferred financing costs	4,124	4,152
Amortization of above/below market lease intangibles	(154)	(35)
Amortization of discounts and premiums on debt	2,593	2,553
Amortization of deferred settlements on derivative instruments	4,631	11,392
Amortization of right-of-use assets	7,308	5,892
Write-off of pursuit costs	2,647	3,278
(Income) loss from investments in unconsolidated entities	1,872	2,199
Distributions from unconsolidated entities – return on capital		100
Net (gain) loss on sales of real estate properties	(223,695)	(352,243)
Net (gain) loss on sales of land parcels	(5)
Realized/unrealized (gain) loss on derivative instruments		25
Realized (gain) loss on sale of investment securities	(23,432)
Compensation paid with Company Common Shares	16,077	13,475
Other operating activities, net		1,805
Changes in assets and liabilities:
(Increase) decrease in other assets	(4,462)	(61,422)
Increase (decrease) in accounts payable and accrued expenses	6,514	5,954
Increase (decrease) in accrued interest payable	(82)	737
Increase (decrease) in lease liabilities	(3,211)	(1,199)
Increase (decrease) in other liabilities	(5,387)	(18,070)
Increase (decrease) in security deposits	1,748	(6,057)
Net cash provided by operating activities	576,125	635,086
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(281,426)
Investment in real estate – development/other	(125,156)	(95,215)
Capital expenditures to real estate	(66,443)	(61,265)
Non-real estate capital additions	(1,042)	(15,536)
Interest capitalized for real estate under development	(8,176)	(4,102)
Proceeds from disposition of real estate, net	406,922	747,600
Investments in unconsolidated entities	(4,491)	(5,626)
Distributions from unconsolidated entities – return of capital	4
Purchase of investment securities and other investments	(166,945)	(509)
Proceeds from sale of investment securities	191,398
Net cash provided by (used for) investing activities	(55,355)	565,347
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(362)	(2,907)
Mortgage notes payable, net:
Proceeds	47,759	495,145
Lump sum payoffs	(59,880)	(91,500)
Scheduled principal repayments	(3,713)	(3,873)
Line of credit and commercial paper:
Line of credit proceeds		1,870,000
Line of credit repayments		(1,890,000)
Commercial paper proceeds	2,819,940	6,726,167
Commercial paper repayments	(2,603,000)	(7,724,000)
Proceeds from (payments on) settlement of derivative instruments		(1,215)
Finance ground lease principal payments	(232)
Proceeds from Employee Share Purchase Plan (ESPP)	2,667	2,359
Proceeds from exercise of EQR options	39,623	11,322
Other financing activities, net	(31)	(31)
Contributions – Noncontrolling Interests – Partially Owned Properties		341
Contributions – Limited Partners		12
Distributions:
OP Units – General Partner	(448,983)	(435,427)
Preference Units	(1,545)	(1,545)
OP Units – Limited Partners	(16,540)	(16,478)
Noncontrolling Interests – Partially Owned Properties	(3,700)	(10,269)
Net cash provided by (used for) financing activities	(227,997)	(1,071,899)
Net increase (decrease) in cash and cash equivalents and restricted deposits	292,773	128,534
Cash and cash equivalents and restricted deposits, beginning of period	99,728	116,999
Cash and cash equivalents and restricted deposits, end of period	392,501	245,533
Cash and cash equivalents	39,492	187,416
Restricted deposits	353,009	58,117
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	126,742	148,164
Net cash paid (received) for income and other taxes	888	428
Amortization of deferred financing costs:
Investment in real estate, net	(100)	(120)
Other assets	1,169	1,169
Mortgage notes payable, net	1,139	876
Notes, net	1,916	2,227
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	1,374	1,191
Notes, net	1,219	1,362
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	4,637	11,398
Write-off of pursuit costs:
Investment in real estate, net	2,314	3,122
Other assets	317	140
Accounts payable and accrued expenses	16	16
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,216	1,554
Other liabilities	656	645
Realized/unrealized (gain) loss on derivative instruments:
Other liabilities		1,215
Accumulated other comprehensive income		(1,190)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(3,231)	(4,726)
Other liabilities	(1,260)	(900)
Debt financing costs:
Other assets	(44)	(215)
Mortgage notes payable, net	(318)	$ (2,692)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	11,308
Lease liabilities	(11,308)
Non-cash share distribution from unconsolidated entities:
Investments in unconsolidated entities	1,429
Other assets	$ (1,429)

CONSOLIDATED STATEMENTS OF CH_3

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	Total	ERPOP [Member]	PREFERRED SHARESERPOP [Member]	General Partner [Member]ERPOP [Member]	Limited PartnerERPOP [Member]	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)ERPOP [Member]	DISTRIBUTIONS [Member]	PARTIALLY OWNED PROPERTIES [Member]ERPOP [Member]
Balance, beginning of year at Dec. 31, 2019			$ 37,280	$ 10,355,789	$ 227,837	$ (77,563)
Balance, beginning of year at Dec. 31, 2019								$ 1,183
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				3,856	(3,856)
Exercise of EQR share options				11,322
EQR's Employee Share Purchase Plan (ESPP)				2,359
EQR restricted shares				7,254	12
EQR share options				1,293
EQR ESPP discount				416
Net income available to Units - General Partner		$ 567,949		567,949
OP Units General Partner distributions				(448,750)
Supplemental Executive Retirement Plan (SERP)				(506)
Change in market value of Redeemable Limited Partners				128,753
Adjustment for Limited Partners ownership in Operating Partnership				(1,987)	1,987
Equity compensation associated with Units - Limited Partners					7,026
Net income available to Units - Limited Partners		21,248			21,248
Units - Limited Partners distributions					(17,037)
Change in carrying value of Redeemable Limited Partners					(2,048)
Unrealized holding (losses) arising during the period	$ 13,410	13,410				(1,190)
Losses reclassified into earnings from other comprehensive income	(11,398)	(11,398)				11,398
Distributions declared per Unit outstanding							$ 1.205
Net income attributable to Noncontrolling Interests	604,152	604,152						13,410
Contributions by Noncontrolling Interests								341
Distributions to Noncontrolling Interests								(10,300)
Balance, end of period at Jun. 30, 2020			37,280	10,627,748	235,169	(67,355)
Balance, end of period at Jun. 30, 2020								4,634
Balance, beginning of year at Mar. 31, 2020			37,280	10,565,983	235,580	(72,896)
Balance, beginning of year at Mar. 31, 2020								4,739
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				2,012	(2,012)
Exercise of EQR share options				171
EQR's Employee Share Purchase Plan (ESPP)				1,490
EQR restricted shares				3,231
EQR share options				623
EQR ESPP discount				263
Net income available to Units - General Partner		260,116		260,116
OP Units General Partner distributions				(224,243)
Supplemental Executive Retirement Plan (SERP)				(655)
Change in market value of Redeemable Limited Partners				17,304
Adjustment for Limited Partners ownership in Operating Partnership				1,453	(1,453)
Equity compensation associated with Units - Limited Partners					1,959
Net income available to Units - Limited Partners		9,713			9,713
Units - Limited Partners distributions					(7,961)
Change in carrying value of Redeemable Limited Partners					(657)
Unrealized holding (losses) arising during the period	880	880				(223)
Losses reclassified into earnings from other comprehensive income	(5,764)	(5,764)				5,764
Distributions declared per Unit outstanding							0.6025
Net income attributable to Noncontrolling Interests	271,481	271,481						880
Distributions to Noncontrolling Interests								(985)
Balance, end of period at Jun. 30, 2020			37,280	10,627,748	235,169	(67,355)
Balance, end of period at Jun. 30, 2020								4,634
Balance, beginning of year at Dec. 31, 2020			37,280	10,532,037	233,162	(43,666)
Balance, beginning of year at Dec. 31, 2020								4,673
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				66,660	(66,660)
Exercise of EQR share options				39,623
EQR's Employee Share Purchase Plan (ESPP)				2,667
EQR restricted shares				4,814
EQR share options				1,976
EQR ESPP discount				633
Net income available to Units - General Partner		372,380		372,380
OP Units General Partner distributions				(450,220)
Supplemental Executive Retirement Plan (SERP)				(2,057)
Change in market value of Redeemable Limited Partners				(101,966)
Adjustment for Limited Partners ownership in Operating Partnership				(30,807)	30,807
Equity compensation associated with Units - Limited Partners					10,531
Net income available to Units - Limited Partners		13,056			13,056
Units - Limited Partners distributions					(15,999)
Change in carrying value of Redeemable Limited Partners					794
Unrealized holding (losses) arising during the period	1,423	1,423
Losses reclassified into earnings from other comprehensive income	(4,637)	(4,637)				4,637
Distributions declared per Unit outstanding							1.205
Net income attributable to Noncontrolling Interests	388,404	388,404						1,423
Distributions to Noncontrolling Interests								(3,731)
Balance, end of period at Jun. 30, 2021			37,280	10,435,740	205,691	(39,029)
Balance, end of period at Jun. 30, 2021								2,365
Balance, beginning of year at Mar. 31, 2021			37,280	10,318,883	234,969	(41,363)
Balance, beginning of year at Mar. 31, 2021								2,472
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				66,660	(66,660)
Exercise of EQR share options				16,741
EQR's Employee Share Purchase Plan (ESPP)				936
EQR restricted shares				2,540
EQR share options				988
EQR ESPP discount				189
Net income available to Units - General Partner		315,614		315,614
OP Units General Partner distributions				(225,547)
Supplemental Executive Retirement Plan (SERP)				(828)
Change in market value of Redeemable Limited Partners				(29,010)
Adjustment for Limited Partners ownership in Operating Partnership				(31,426)	31,426
Equity compensation associated with Units - Limited Partners					4,043
Net income available to Units - Limited Partners		10,913			10,913
Units - Limited Partners distributions					(7,410)
Change in carrying value of Redeemable Limited Partners					(1,590)
Unrealized holding (losses) arising during the period	741	741
Losses reclassified into earnings from other comprehensive income	(2,334)	(2,334)				2,334
Distributions declared per Unit outstanding							$ 0.6025
Net income attributable to Noncontrolling Interests	$ 328,040	$ 328,040						741
Distributions to Noncontrolling Interests								(848)
Balance, end of period at Jun. 30, 2021			$ 37,280	$ 10,435,740	$ 205,691	$ (39,029)
Balance, end of period at Jun. 30, 2021								$ 2,365

Business

Business	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business	1. Business Equity Residential (“EQR”) is an S&P 500 company focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters, a business that is conducted on its behalf by ERP Operating Limited Partnership (“ERPOP”). EQR is a Maryland real estate investment trust (“REIT”) formed in March 1993 and ERPOP is an Illinois limited partnership formed in May 1993. ERPOP. ERPOP. EQR is the general partner of, and as of June 30, 2021 owned an approximate 96.7% ownership interest in, ERPOP. All of the Company’s property ownership, development and related business operations are conducted through the Operating Partnership ERPOP. ERPOP, As of June 30, 2021, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 303 properties located in 9 states and the District of Columbia consisting of 78,107 apartment units. The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 286 74,468 Master-Leased Property – Consolidated 1 162 Partially Owned Properties – Consolidated 16 3,477 303 78,107 COVID-19 Pandemic The Company continues to monitor the effects of and take various actions in response to the novel coronavirus (“COVID-19”) pandemic and its accompanying variants. Its duration, severity and the extent of the adverse health impact on the general population, our residents and employees, the rate of vaccine distribution and effectiveness of vaccinations, the overall reopening progress in the cities in which we operate and the potential long-term changes in customer preferences for living in our communities, are among the many unknowns that have had and could continue to have a significant future impact on the Company. These, among other items, have impacted the economy, the unemployment rate and our operations and could materially affect our future consolidated results of operations, financial condition, liquidity, investments and overall performance. There have been no material changes to the overall COVID-19 disclosures that were discussed in the notes to the consolidated financial statements of the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. In response to the COVID-19 pandemic, management evaluated whether its estimates , such as lease collectibility (discuss ed below in Recently Adopted Accounting Pronouncements ) and impairment, require d revised approaches and generally concluded that no revisions were necessary at this time . The balance sheets at December 31, 2020 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2020. Income and Other Taxes EQR has elected to be taxed as a REIT. This, along with the nature of the operations of its operating properties, resulted in no provision for federal income taxes at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their allocable share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected taxable REIT subsidiary (“TRS”) status for certain of its corporate subsidiaries and, as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses. On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Included in the CARES Act were tax provisions which increased allowable interest expense deductions for 2019 and 2020 and increased the ability for taxpayers to use net operating losses. These provisions did not result in a material impact to the Company’s taxable income or tax liabilities. Recently Issued Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued an amendment to the debt and equity financial instruments standards which simplifies the accounting for convertible instruments and accounting for contracts in an entity’s own equity. Instead of being required to assess whether an equity contract permits settlement in unregistered shares, which may require a legal analysis under the securities laws, entities will only analyze whether cash settlements are explicitly required when registered shares are unavailable. As a result, such contracts may be classified in permanent rather than mezzanine equity, which may affect the way the Company’s OP Units are presented on its financial statements. The update is effective for the Company beginning on January 1, 2022 as the Company did not early adopt the standard as allowed on January 1, 2021. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. In March 2020, the FASB issued an amendment to the reference rate reform standard which provides the option for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on contract modifications and hedge accounting. An example of such reform is the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. Entities that make this optional expedient election would not have to remeasure the contracts at the modification date or reassess the accounting treatment if certain criteria are met and would continue applying hedge accounting for relationships affected by reference rate reform. The new standard was effective for the Company upon issuance and elections can be made through December 31, 2022. The Company is currently evaluating its options with regards to existing contracts and hedging relationships and the impact of adopting this update on its consolidated results of operations and financial position. Recently Adopted Accounting Pronouncements In April 2020, a FASB staff question and answer document was issued which intended to reduce the challenges of evaluating the enforceable rights and obligations of leases for concessions granted to lessees in response to the COVID-19 pandemic. We elected not to evaluate whether qualifying concessions provided by the Company in response to the COVID-19 pandemic are a lease modification, subject to the criteria that the total payments under the amended lease cannot result in a substantial increase in the rights of the lessor or obligations of the lessee . We also elected to treat the concessions as though they were contemplated as part of the existing contracts and therefore will not apply lease modification rules to the qualifying lease concession amendments. As such, deferrals deemed collectible are recorded as rental receivables with no change to timing of rental revenues and deferrals deemed non-collectible and abatements reduce rental revenues in the deferral/abatement period and cause rental revenues to effectively follow a cash basis related to the changes. The accounting elections provided by the FASB mainly apply to the Company’s non-residential leases and the majority of the amendments will not require a straight-line adjustment. See Note 8 for additional discussion. In June 2016, the FASB issued a standard which requires companies to adopt a new approach for estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. In November 2018, the FASB issued an amendment excluding operating lease receivables accounted for under the lease standard from the scope of the credit losses standard. The Company adopted this standard as required effective January 1, 2020 and it did not have a material effect on its consolidated results of operations and financial position.

Equity, Capital and Other Inter

Equity, Capital and Other Interests	6 Months Ended
	Jun. 30, 2021
Equity Capital And Other Interests [Abstract]
Equity, Capital and Other Interests	3. Equity, Capital and Other Interests The Company refers to “Common Shares” and “Units” (which refer to both OP Units and restricted units) as equity securities for EQR and “General Partner Units” and “Limited Partner Units” as equity securities for ERPOP. To provide a streamlined and more readable presentation of the disclosures for the Company and the Operating Partnership, several sections below refer to the respective terminology for each with the same financial information and separate sections are provided, where needed, to further distinguish any differences in financial information and terminology. The following table presents the changes in the Company’s issued and outstanding Common Shares and Units for the six months ended June 30, 2021 and 2020: 2021 2020 Common Shares Common Shares outstanding at January 1, 372,302,000 371,670,884 Common Shares Issued: Conversion of OP Units 1,084,023 97,363 Exercise of share options 833,669 217,935 Employee Share Purchase Plan (ESPP) 47,761 44,110 Restricted share grants, net 87,377 178,720 Common Shares outstanding at June 30, 374,354,830 372,209,012 Units Units outstanding at January 1, 13,858,073 13,731,315 Restricted unit grants, net 155,638 245,999 Conversion of OP Units to Common Shares (1,084,023 ) (97,363 ) Units outstanding at June 30, 12,929,688 13,879,951 Total Common Shares and Units outstanding at June 30, 387,284,518 386,088,963 Units Ownership Interest in Operating Partnership 3.3 % 3.6 % The following table presents the changes in the Operating Partnership’s issued and outstanding General Partner Units and Limited Partner Units for the six months ended June 30, 2021 and 2020: 2021 2020 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 386,160,073 385,402,199 Issued to General Partner: Exercise of EQR share options 833,669 217,935 EQR’s Employee Share Purchase Plan (ESPP) 47,761 44,110 EQR’s restricted share grants, net 87,377 178,720 Issued to Limited Partners: Restricted unit grants, net 155,638 245,999 General and Limited Partner Units outstanding at June 30, 387,284,518 386,088,963 Limited Partner Units Limited Partner Units outstanding at January 1, 13,858,073 13,731,315 Limited Partner restricted unit grants, net 155,638 245,999 Conversion of Limited Partner OP Units to EQR Common Shares (1,084,023 ) (97,363 ) Limited Partner Units outstanding at June 30, 12,929,688 13,879,951 Limited Partner Units Ownership Interest in Operating Partnership 3.3 % 3.6 % The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for OP Units, as well as the equity positions of the holders of restricted units, are collectively referred to as the “Noncontrolling Interests – Operating Partnership” and “Limited Partners Capital,” respectively, for the Company and the Operating Partnership. Subject to certain exceptions (including the “book-up” requirements of restricted units), the Noncontrolling Interests – Operating Partnership/Limited Partners Capital may exchange their Units with EQR for Common Shares on a one-for-one basis. The carrying value of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital (including redeemable interests) is allocated based on the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total in proportion to the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total plus the total number of Common Shares/General Partner Units. Net income is allocated to the Noncontrolling Interests – Operating Partnership/Limited Partners Capital based on the weighted average ownership percentage during the period. The Operating Partnership has the right but not the obligation to make a cash payment instead of issuing Common Shares to any and all holders of Noncontrolling Interests – Operating Partnership/Limited Partners Capital requesting an exchange of their Noncontrolling Interests – Operating Partnership/Limited Partners Capital with EQR. Once the Operating Partnership elects not to redeem the Noncontrolling Interests – Operating Partnership/Limited Partners Capital for cash, EQR is obligated to deliver Common Shares to the exchanging holder of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital. The Noncontrolling Interests – Operating Partnership/Limited Partners Capital are classified as either mezzanine equity or permanent equity. If EQR is required, either by contract or securities law, to deliver registered Common Shares, such Noncontrolling Interests – Operating Partnership/Limited Partners Capital are differentiated and referred to as “Redeemable Noncontrolling Interests – Operating Partnership” and “Redeemable Limited Partners,” respectively. Instruments that require settlement in registered shares cannot be classified in permanent equity as it is not always completely within an issuer’s control to deliver registered shares. Therefore, settlement in cash is assumed and that responsibility for settlement in cash is deemed to fall to the Operating Partnership as the primary source of cash for EQR, resulting in presentation in the mezzanine section of the balance sheet. The Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. EQR has the ability to deliver unregistered Common Shares for the remaining portion of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital that are classified in permanent equity at June 30, 2021 and December 31, 2020. The carrying value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners is allocated based on the number of Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners in proportion to the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total. Such percentage of the total carrying value of Units/Limited Partner Units which is ascribed to the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners is then adjusted to the greater of carrying value or fair market value as described above. As of June 30, 2021 and 2020, the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners have a redemption value of approximately The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners for the six months ended June 30, 2021 and 2020, respectively (amounts in 2021 2020 Balance at January 1, $ 338,951 $ 463,400 Change in market value 101,966 (128,753 ) Change in carrying value (794 ) 2,048 Balance at June 30, $ 440,123 $ 336,695 Net proceeds from EQR Common Share and Preferred Share (see definition below) offerings and proceeds from exercise of options for Common Shares are contributed by EQR to ERPOP. In return for those contributions, EQR receives a number of OP Units in ERPOP equal to the number of Common Shares it has issued in the equity offering (or in the case of a preferred equity offering, a number of preference units in ERPOP equal in number and having the same terms as the Preferred Shares issued in the equity offering). As a result, the net proceeds from Common Shares and Preferred Shares are allocated for the Company between shareholders’ equity and Noncontrolling Interests – Operating Partnership and for the Operating Partnership between General Partner’s Capital and Limited Partners Capital to account for the change in their respective percentage ownership of the underlying equity. The 100,000,000 The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as June 30, 2021 and December 31, 2020 Amounts in thousands Annual Call Dividend Per June 30, December 31, Date (1) Share/Unit (2) 2021 2020 Preferred Shares/Preference Units of beneficial interest, $0.01 par value; 100,000,000 shares authorized: 8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share/unit; 745,600 shares/units issued and outstanding as of June 30, 2021 and December 31, 2020 12/10/26 $ 4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the call date, redeemable Preferred Shares/Preference Units may be redeemed for cash at the option of the Company or the Operating Partnership, respectively, in whole or in part, at a redemption price equal to the liquidation price per share/unit, plus accrued and unpaid distributions, if any. (2) Dividends on Preferred Shares/Preference Units are payable quarterly. Other EQR and ERPOP currently have an active universal shelf registration statement for the issuance of equity and debt securities that automatically became effective upon filing with the SEC in June 2019 and expires in June 2022. Per the terms of ERPOP’s partnership agreement, EQR contributes the net proceeds of all equity offerings to the capital of ERPOP in exchange for additional OP Units (on a one-for-one Common Share per OP Unit basis) or preference units (on a one-for-one preferred share per preference unit basis). The Company has an At-The-Market (“ATM”) share offering program which allows EQR to sell Common Shares from time to time into the existing trading market at current market prices as well as through negotiated transactions. In June 2019, the Company extended the program maturity to June 2022. In connection with the extension, the Company may now also sell Common Shares under forward sale agreements. The use of a forward sale agreement would allow the Company to lock in a price on the sale of Common Shares at the time the agreement is executed, but defer receiving the proceeds from the sale until a later date. EQR has the authority to issue 13.0 million shares but has not issued any shares under this program since September 2012. The Company may repurchase up to 13.0 million Common Shares under its share repurchase program. No open market repurchases have occurred since 2008, and no repurchases of any kind have occurred since February 2014. As of June 30, 2021

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2021
Real Estate [Abstract]
Real Estate	4. Real Estate The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2021 and December 31, 2020 (amounts in thousands): June 30, 2021 December 31, 2020 Land $ 5,780,705 $ 5,785,367 Depreciable property: Buildings and improvements 18,637,974 18,464,484 Furniture, fixtures and equipment 2,031,407 1,970,033 In-Place lease intangibles 492,603 486,137 Projects under development: Land 10,424 23,531 Construction-in-progress 361,819 387,603 Land held for development: Land 46,160 46,160 Construction-in-progress 44,286 40,010 Investment in real estate 27,405,378 27,203,325 Accumulated depreciation (8,164,287 ) (7,859,657 ) Investment in real estate, net $ 19,241,091 $ 19,343,668 During the six months ended June 30, 2021, the Company acquired the following from unaffiliated parties (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated (1) 3 813 $ 280,200 Total 3 813 $ 280,200 (1) Purchase price includes an allocation of approximately $30.8 million to land and $250.6 million to depreciable property (inclusive of capitalized closing costs). During the six months ended June 30, 2021, the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Rental Properties – Consolidated 5 795 $ 409,500 Total 5 795 $ 409,500 The Company recognized a net gain on sales of real estate properties of approximately $223.7 million on the above sales.

Commitments to Acquire_Dispose

Commitments to Acquire/Dispose of Real Estate	6 Months Ended
	Jun. 30, 2021
Commitments To Acquire Dispose Of Real Estate [Abstract]
Commitments to Acquire/Dispose of Real Estate	5. Commitments to Acquire/Dispose of Real The Company has not entered into any agreements to acquire rental properties or land parcels as of the date of filing. The Company has entered into separate agreements to dispose of the following (sales price and net book value in thousands): Properties Apartment Units Sales Price Net Book Value at June 30, 2021 Rental Properties - Consolidated 2 454 $ 275,000 $ 98,033 Total 2 454 $ 275,000 $ 98,033 The closing of pending transactions is subject to certain conditions and restrictions; therefore, there can be no assurance that the transactions will be consummated or that the final terms will not differ in material respects from any agreements summarized above. See Note 14 for discussion of the properties acquired or disposed of, if any, subsequent to June 30, 2021.

Investments in Partially Owned

Investments in Partially Owned Entities	6 Months Ended
	Jun. 30, 2021
Investments In Partially Owned Entities [Abstract]
Investments in Partially Owned Entities	6. Investments in Partially Owned The Consolidated Variable Interest Entities (“VIEs”) In accordance with accounting standards for consolidation of VIEs , the As the sole general partner of ERPOP, EQR has exclusive control of ERPOP’s day-to-day management. The limited partners are not able to exercise substantive kick-out or participating rights. As a result, ERPOP qualifies as a VIE. EQR has a controlling financial interest in ERPOP and, thus, is ERPOP’s primary beneficiary. EQR has the power to direct the activities of ERPOP that most significantly impact ERPOP’s economic performance as well as the obligation to absorb losses or the right to receive benefits from ERPOP that could potentially be significant to ERPOP. The Company has various equity interests in certain joint ventures owning 16 properties containing 3,477 apartment units. The Company has determined that these joint ventures are VIEs and the Company is the VIEs’ primary beneficiary. As a result, the joint ventures are required to be consolidated on the Company’s financial statements. The Company also has a separate consolidated joint venture which leases a land parcel that will be developed into a multifamily rental property. This joint venture has been deemed to be a VIE and is consolidated due to the Company being the primary beneficiary. The consolidated assets and liabilities related to the VIEs discussed above were approximately $778.6 million and $242.0 million, respectively, at June 30, 2021 and approximately $784.1 million and $224.0 million, respectively, at December 31, 2020. Investments in Unconsolidated Entities The following table and information summarizes the Company’s investments in unconsolidated entities, which are accounted for under the equity method of accounting as the requirements for consolidation are not met, as of June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Ownership Percentage Investments in Unconsolidated Entities: Operating Property (VIE) (1) $ 37,204 $ 38,288 33.3% Real Estate Technology (2) 16,609 14,866 Varies Other (449 ) (372 ) Varies Investments in Unconsolidated Entities $ 53,364 $ 52,782 (1) Represents an unconsolidated interest in an entity that owns the land underlying one of the consolidated joint venture properties noted above and owns and operates a related parking facility. The joint venture, as a limited partner, does not have substantive kick-out or participating rights in the entity. As a result, the entity qualifies as a VIE. The joint venture does not have a controlling financial interest in the VIE and is not the VIE’s primary beneficiary. The joint venture does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance or the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result, the entity that owns the land and owns and operates the parking facility is unconsolidated and recorded using the equity method of accounting. (2) Represents unconsolidated investments in five separate real estate technology funds/companies.

Restricted Deposits

Restricted Deposits	6 Months Ended
	Jun. 30, 2021
Deposits Restricted [Abstract]
Restricted Deposits	7. Restricted Deposits The following table presents the Company’s restricted deposits as of June 30, 2021 and December 31, 2020 (amounts in thousands): June 30, 2021 December 31, 2020 Mortgage escrow deposits: Replacement reserves $ 10,497 $ 9,877 Mortgage principal reserves/sinking funds 16,580 14,168 Mortgage escrow deposits 27,077 24,045 Restricted cash: Tax-deferred (1031) exchange proceeds 285,147 — Earnest money on pending acquisitions 6,250 — Restricted deposits on real estate investments 296 307 Resident security and utility deposits 32,405 31,412 Other 1,834 1,373 Restricted cash 325,932 33,092 Restricted deposits $ 353,009 $ 57,137

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	8 . Leases Lessor Accounting The Company is the lessor for its residential and non-residential leases and these leases will continue to be accounted for as operating leases under the lease standard. For the six months ended June 30, 2021, approximately 97% of the Company’s total lease revenue is generated from residential apartment leases that are generally twelve months or less in length. The residential apartment leases may include lease income related to such items as utility recoveries, parking, storage and pet rent that the Company treats as a single lease component because the amenities cannot be leased on their own and the timing and pattern of revenue recognition are the same. The collection of lease payments at lease commencement is probable and therefore the Company subsequently recognizes lease income over the lease term on a straight-line basis. Residential leases are renewable upon consent of both parties on an annual or monthly basis. For the six months ended June 30, 2021, approximately 3% of the Company’s total lease revenue is generated by non-residential leases that are generally for terms ranging between five to ten years. The non-residential leases generally consist of ground floor retail spaces and master-leased parking garages that serve as additional amenities for our residents. The non-residential leases may include lease income related to such items as utility recoveries, parking rent and storage rent that the Company treats as a single lease component because the amenities cannot be leased on their own and the timing and pattern of revenue recognition are the same. The collection of lease payments at lease commencement is probable and therefore the Company subsequently recognizes lease income over the lease term on a straight-line basis. Non-residential leases are renewable with market-based renewal options. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the six months ended June 30, 2021 and 2020 (amounts in thousands): Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Income Type Residential Leases Non-Residential Leases Total Residential Leases Non-Residential Leases Total Residential and non-residential rent $ 1,078,304 $ 31,237 $ 1,109,541 $ 1,207,106 $ 30,221 $ 1,237,327 Utility recoveries (RUBS income) (1) 36,533 330 36,863 35,232 375 35,607 Parking rent 19,890 362 20,252 19,460 223 19,683 Other lease revenue (2) (18,970 ) 1,138 (17,832 ) (6,273 ) (1,231 ) (7,504 ) Total lease revenue $ 1,115,757 $ 33,067 1,148,824 $ 1,255,525 $ 29,588 1,285,113 Parking revenue 11,572 11,312 Other revenue 35,265 39,412 Total other rental income (3) 46,837 50,724 Rental income $ 1,195,661 $ 1,335,837 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended June 30, 2021 and 2020 (amounts in thousands): Quarter Ended June 30, 2021 Quarter Ended June 30, 2020 Income Type Residential Leases Non-Residential Leases Total Residential Leases Non-Residential Leases Total Residential and non-residential rent $ 538,649 $ 15,398 $ 554,047 $ 594,626 $ 12,127 $ 606,753 Utility recoveries (RUBS income) (1) 18,579 152 18,731 17,814 147 17,961 Parking rent 10,156 95 10,251 9,627 126 9,753 Other lease revenue (2) (8,708 ) 529 (8,179 ) (6,060 ) (951 ) (7,011 ) Total lease revenue $ 558,676 $ 16,174 574,850 $ 616,007 $ 11,449 627,456 Parking revenue 6,139 4,529 Other revenue 17,070 21,547 Total other rental income (3) 23,209 26,076 Rental income $ 598,059 $ 653,532 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The economic impact of the pandemic on a subset of our residents and tenants has led to elevated levels of bad debt. We continue to work with our residents and tenants on payment plans and collections and our bad debt allowance policies remain consistent. The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of June 30, 2021 and December 31, 2020 (amounts in thousands): Residential Non-Residential Balance Sheet (Other assets): June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Resident/tenant accounts receivable balances $ 43,415 $ 30,856 $ 6,122 $ 7,598 Allowance for doubtful accounts (39,014 ) (24,021 ) (5,232 ) (6,527 ) Net receivable balances $ 4,401 (1) $ 6,835 $ 890 $ 1,071 Straight-line receivable balances $ 20,487 $ 19,992 $ 12,801 $ 13,413 (1) The Company held residential security deposits approximating 48.7% of the net receivable balance at June 30, 2021 The following table presents residential bad debt for the Company’s properties for the six months and quarters ended June 30, 2021 and 2020 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, Income Statement (Rental income): 2021 2020 2021 2020 Bad debt, net $ 25,772 $ 13,348 $ 12,079 $ 9,564 % of rental income 2.2 % 1.0 % 2.1 % 1.5 %

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	9 . Debt EQR Mortgage Notes Payable The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2021 (amounts in thousands): Mortgage notes payable, net as of December 31, 2020 Proceeds Lump sum payoffs Scheduled principal repayments Amortization of premiums/ discounts Amortization of deferred financing costs, net (1) Mortgage notes payable, net as of June 30, 2021 Fixed Rate Debt: Secured – Conventional $ 1,901,091 $ 28,500 (2) $ (28,200 ) $ (3,713 ) $ 758 $ 354 $ 1,898,790 Floating Rate Debt: Secured – Conventional 31,494 19,259 — — — 120 50,873 Secured – Tax Exempt 361,305 — (31,680 ) — 616 347 330,588 Floating Rate Debt 392,799 19,259 (31,680 ) — 616 467 381,461 Total $ 2,293,890 $ 47,759 $ (59,880 ) $ (3,713 ) $ 1,374 $ 821 $ 2,280,251 (1) Represents amortization of deferred financing costs, net of debt financing costs. (2) Obtained 3.58% fixed rate mortgage debt maturing on March 1, 2031. The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2021: June 30, 2021 Interest Rate Ranges 0.03% - 4.21% Weighted Average Interest Rate 3.17% Maturity Date Ranges 2022-2061 As of June 30, 2021, the Company had $250.0 million of secured debt (primarily tax-exempt bonds) subject to third-party credit enhancement. Notes The following table summarizes the Company’s notes activity for the six months ended June 30, 2021 (amounts in thousands): Notes, net as of December 31, 2020 Proceeds Lump sum payoffs Realized/unrealized (gain) loss on derivative instruments Amortization of premiums/ discounts Amortization of deferred financing costs, net (1) Notes, net as of June 30, 2021 Fixed Rate Debt: Unsecured – Public $ 5,335,536 $ — $ — $ — $ 1,219 $ 1,916 $ 5,338,671 (1) Represents amortization of deferred financing costs, net of debt financing costs. The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2021: June 30, 2021 Interest Rate Ranges 2.50% - 7.57% Weighted Average Interest Rate 3.75% Maturity Date Ranges 2023-2047 The Company’s unsecured public notes contain certain financial and operating covenants including, among other things, maintenance of certain financial ratios. The Company was in compliance with its unsecured public debt covenants for the six months ended June 30, 2021. Line of Credit and Commercial Paper The Company has a $2.5 billion unsecured revolving credit facility maturing November 1, 2024. The Company has the ability to increase available borrowings by an additional $750.0 million by adding lenders to the facility, obtaining the agreement of existing lenders to increase their commitments or incurring one or more term loans. The interest rate on advances under the facility will generally be LIBOR plus a spread (currently 0.775%), or based on bids received from the lending group, and the Company pays an annual facility fee (currently 0.125 %). Both the spread and the facility fee are dependent on the Company’s senior unsecured credit rating. The Company did no t borrow any amounts under its revolving credit facility during the six months ended June 30, 2021 . The Company has an unsecured commercial paper note program in which it may borrow up to a maximum of $1.0 billion subject to market conditions. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of the Company’s other unsecured senior indebtedness. The notes bear interest at various floating rates with a weighted average interest rate of 0.29% for the six months ended June 30, 2021 and a weighted average maturity of 46 days as of June 30, 2021. The weighted average amount outstanding for the six months ended June 30, 2021 was approximately $585.1 million. The Company limits its utilization of the revolving credit facility in order to maintain liquidity to support its $1.0 billion commercial paper program along with certain other obligations. The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2021 (amounts in thousands): June 30, 2021 Unsecured revolving credit facility commitment $ 2,500,000 Commercial paper balance outstanding (632,000 ) Unsecured revolving credit facility balance outstanding — Other restricted amounts (100,699 ) Unsecured revolving credit facility availability $ 1,767,301 Other The following table summarizes the Company’s total debt extinguishment costs recorded as additional interest expense during the six months ended June 30, 2021 June 30, 2021 Write-offs of unamortized deferred financing costs $ 264

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	10 . Fair Value Measurements The valuation of financial instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments on listed market prices and third-party quotes. Where these are not available, the Company bases its estimates on current instruments with similar terms and maturities or on other factors relevant to the financial instruments. In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company may seek to manage these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company may also use derivatives to manage commodity prices in the daily operations of the business. During the six months ended June 30, 2021 w A • Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) 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. • Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value The following table summarizes the inputs to the valuations for each type of fair value measurement: Fair Value Measurement Type Valuation Inputs Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”) Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets. Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Quoted market price of Common Shares. Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable) Indicative rates provided by lenders of similar loans. Public unsecured notes Quoted market prices for each underlying issuance. The fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, commercial paper, line of credit and derivative instruments), including cash and cash equivalents and other financial instruments, approximate their carrying or contract value. The June 30, 2021 December 31, 2020 Carrying Value Estimated Fair Value (Level 2) Carrying Value Estimated Fair Value (Level 2) Mortgage notes payable, net $ 2,280,251 $ 2,308,025 $ 2,293,890 $ 2,313,263 Unsecured debt, net 5,970,441 6,688,195 5,750,366 6,686,612 Total debt, net $ 8,250,692 $ 8,996,220 $ 8,044,256 $ 8,999,875 The Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 6/30/2021 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Supplemental Executive Retirement Plan Other Assets $ 162,179 $ 162,179 $ — $ — Liabilities Supplemental Executive Retirement Plan Other Liabilities $ 162,179 $ 162,179 $ — $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 440,123 $ — $ 440,123 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2020 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Supplemental Executive Retirement Plan Other Assets $ 160,293 $ 160,293 $ — $ — Liabilities Supplemental Executive Retirement Plan Other Liabilities $ 160,293 $ 160,293 $ — $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 338,951 $ — $ 338,951 $ — The Effective Portion June 30, 2021 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/(Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ — Interest expense $ (4,637 ) Total $ — $ (4,637 ) Effective Portion June 30, 2020 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/(Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (1,190 ) Interest expense $ (11,398 ) Total $ (1,190 ) $ (11,398 ) As

Earnings Per Share and Earnings

Earnings Per Share and Earnings Per Unit	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share And Earnings Per Unit	1 1 . Earnings Per Share and Earnings Per Equity Residential The Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Numerator for net income per share – basic: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Allocation to Noncontrolling Interests – Operating Partnership (13,056 ) (21,248 ) (10,913 ) (9,713 ) Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Preferred distributions (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per share – basic $ 372,380 $ 567,949 $ 315,614 $ 260,116 Numerator for net income per share – diluted: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Preferred distributions (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per share – diluted $ 385,436 $ 589,197 $ 326,527 $ 269,829 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 373,050 371,689 373,812 371,795 Effect of dilutive securities: OP Units 12,544 13,013 12,044 13,023 Long-term compensation shares/units 1,773 1,570 1,964 1,095 Denominator for net income per share – diluted 387,367 386,272 387,820 385,913 Net income per share – basic $ 1.00 $ 1.53 $ 0.84 $ 0.70 Net income per share – diluted $ 1.00 $ 1.53 $ 0.84 $ 0.70 ERP Operating Limited Partnership The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Numerator for net income per Unit – basic and diluted: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Allocation to Preference Units (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per Unit – basic and diluted $ 385,436 $ 589,197 $ 326,527 $ 269,829 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 385,594 384,702 385,856 384,818 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units 1,773 1,570 1,964 1,095 Denominator for net income per Unit – diluted 387,367 386,272 387,820 385,913 Net income per Unit – basic $ 1.00 $ 1.53 $ 0.84 $ 0.70 Net income per Unit – diluted $ 1.00 $ 1.53 $ 0.84 $ 0.70

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	1 2 . The Company, as an owner of real estate, is subject to various Federal, state and local laws, including, but not limited to, rent regulations and environmental laws. Compliance by the Company with existing laws has not had a material adverse effect on the Company. However, the Company cannot predict the impact of new or changed laws or regulations, whether related to COVID-19 or otherwise, on its current properties or on properties that it may acquire in the future. The Company does not believe there is any litigation pending or threatened against it that, individually or in the aggregate, may reasonably be expected to have a material adverse effect on the Company. As of June 30, 2021, the Company has two wholly owned projects totaling 624 apartment units in various stages of development with remaining commitments to fund of approximately $60.5 million and estimated completion dates ranging through December 31, 2021, as well as one completed partially owned development project that is in lease-up. As of June 30, 2021, the Company has two consolidated joint venture agreements with third-party partners for the development of multifamily rental properties, one of which was substantially completed during the quarter ended June 30, 2021. The joint venture agreements with each partner include a buy-sell provision that provides the right, but not the obligation, for the Company to acquire each respective partner’s interests or sell its interests at any time following the occurrence of certain pre-defined events described in the joint venture agreements. See Note 6 for additional discussion.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Reportable Segments	1 3 . Reportable Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses and about which discrete financial information is available that is evaluated regularly by the chief The Company’s primary business is the acquisition, development and management of multifamily residential properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The chief operating decision maker evaluates the Company’s operating performance geographically by market and both on a same store and non-same store basis. While the Company does maintain a non-residential presence, it accounts for approximately 3.8% of total revenues for the six months ended June 30, 2021 and is designed as an amenity for our residential residents. The chief operating decision maker evaluates the performance of each property on a consolidated residential and non-residential basis. The Company’s geographic consolidated same store operating segments represent its reportable segments. The Company’s development activities are other business activities that do not constitute an operating segment and as such, have been aggregated in the “Other” category in the tables presented below. All The primary financial measure for the Company’s rental real estate segment is net operating income (“NOI”), which represents The Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Rental income $ 1,195,661 $ 1,335,837 $ 598,059 $ 653,532 Property and maintenance expense (224,800 ) (220,268 ) (107,746 ) (104,452 ) Real estate taxes and insurance expense (200,871 ) (192,770 ) (97,401 ) (95,038 ) Total operating expenses (425,671 ) (413,038 ) (205,147 ) (199,490 ) Net operating income $ 769,990 $ 922,799 $ 392,912 $ 454,042 The following tables present NOI for each segment from our rental real estate for the six months and quarters ended June 30, 2021 and 2020, respectively, as well as total assets and capital expenditures at June 30, 2021 (amounts in thousands): Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Los Angeles $ 226,592 $ 74,889 $ 151,703 $ 241,570 $ 73,626 $ 167,944 Orange County 52,510 12,458 40,052 53,013 12,083 40,930 San Diego 37,928 9,185 28,743 37,365 9,033 28,332 Subtotal - Southern California 317,030 96,532 220,498 331,948 94,742 237,206 San Francisco 209,617 65,034 144,583 246,209 62,389 183,820 Washington D.C. 198,147 64,973 133,174 207,958 62,819 145,139 New York 196,304 102,288 94,016 226,532 98,230 128,302 Seattle 120,831 38,720 82,111 133,338 37,070 96,268 Boston 113,714 37,719 75,995 123,673 35,275 88,398 Denver 18,920 5,674 13,246 19,074 5,427 13,647 Total same store 1,174,563 410,940 763,623 1,288,732 395,952 892,780 Non-same store/other (2) (3) Non-same store 10,499 3,506 6,993 7,374 1,611 5,763 Other (3) 10,599 11,225 (626 ) 39,731 15,475 24,256 Total non-same store/other 21,098 14,731 6,367 47,105 17,086 30,019 Totals $ 1,195,661 $ 425,671 $ 769,990 $ 1,335,837 $ 413,038 $ 922,799 (1) For the six months ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment (2) For the six months ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Quarter Ended June 30, 2021 Quarter Ended June 30, 2020 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Los Angeles $ 113,639 $ 36,769 $ 76,870 $ 118,686 $ 35,841 $ 82,845 Orange County 26,669 6,122 20,547 26,318 5,910 20,408 San Diego 19,188 4,545 14,643 18,587 4,447 14,140 Subtotal - Southern California 159,496 47,436 112,060 163,591 46,198 117,393 San Francisco 104,285 31,759 72,526 121,106 30,593 90,513 Washington D.C. 99,030 31,651 67,379 103,241 30,717 72,524 New York 98,271 49,834 48,437 110,230 47,908 62,322 Seattle 60,574 19,372 41,202 66,096 18,778 47,318 Boston 57,777 18,512 39,265 60,711 17,087 43,624 Denver 9,575 2,643 6,932 9,418 2,639 6,779 Total same store 589,008 201,207 387,801 634,393 193,920 440,473 Non-same store/other (2) (3) Non-same store 4,589 1,755 2,834 2,190 298 1,892 Other (3) 4,462 2,185 2,277 16,949 5,272 11,677 Total non-same store/other 9,051 3,940 5,111 19,139 5,570 13,569 Totals $ 598,059 $ 205,147 $ 392,912 $ 653,532 $ 199,490 $ 454,042 (1) For the quarters ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2020, less properties subsequently sold, which represented 76,556 apartment (2) For the quarters ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after April 1, 2020, plus any properties in lease-up and not stabilized as of April 1, (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Six Months Ended June 30, 2021 Total Assets Capital Expenditures Same store (1) Los Angeles $ 3,052,015 $ 8,232 Orange County 380,069 2,372 San Diego 237,670 1,427 Subtotal - Southern California 3,669,754 12,031 San Francisco 3,442,539 10,443 Washington D.C. 3,291,944 13,108 New York 3,951,560 13,956 Seattle 1,987,663 6,723 Boston 1,726,284 9,067 Denver 502,062 615 Total same store 18,571,806 65,943 Non-same store/other (2) (3) Non-same store 663,201 288 Other (3) 1,229,339 212 Total non-same store/other 1,892,540 500 Totals $ 20,464,346 $ 66,443 (1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment (2) Non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, (3) Other includes development, other corporate operations and capital expenditures for properties

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	1 4 . Subsequent Subsequent to June 30, 2021, the Company: • Acquired four properties consisting of 1,081 apartment units for $365.5 million; • Sold two properties consisting of 395 apartment units for $215.3 million; and • Contributed $3.3 million for one unconsolidated land parcel acquisition as part of the formation of a joint venture with a third-party.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Summary Of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. In response to the COVID-19 pandemic, management evaluated whether its estimates , such as lease collectibility (discuss ed below in Recently Adopted Accounting Pronouncements ) and impairment, require d revised approaches and generally concluded that no revisions were necessary at this time . The balance sheets at December 31, 2020 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2020.
Income and Other Taxes	Income and Other Taxes EQR has elected to be taxed as a REIT. This, along with the nature of the operations of its operating properties, resulted in no provision for federal income taxes at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their allocable share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected taxable REIT subsidiary (“TRS”) status for certain of its corporate subsidiaries and, as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses. On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Included in the CARES Act were tax provisions which increased allowable interest expense deductions for 2019 and 2020 and increased the ability for taxpayers to use net operating losses. These provisions did not result in a material impact to the Company’s taxable income or tax liabilities.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued an amendment to the debt and equity financial instruments standards which simplifies the accounting for convertible instruments and accounting for contracts in an entity’s own equity. Instead of being required to assess whether an equity contract permits settlement in unregistered shares, which may require a legal analysis under the securities laws, entities will only analyze whether cash settlements are explicitly required when registered shares are unavailable. As a result, such contracts may be classified in permanent rather than mezzanine equity, which may affect the way the Company’s OP Units are presented on its financial statements. The update is effective for the Company beginning on January 1, 2022 as the Company did not early adopt the standard as allowed on January 1, 2021. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. In March 2020, the FASB issued an amendment to the reference rate reform standard which provides the option for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on contract modifications and hedge accounting. An example of such reform is the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. Entities that make this optional expedient election would not have to remeasure the contracts at the modification date or reassess the accounting treatment if certain criteria are met and would continue applying hedge accounting for relationships affected by reference rate reform. The new standard was effective for the Company upon issuance and elections can be made through December 31, 2022. The Company is currently evaluating its options with regards to existing contracts and hedging relationships and the impact of adopting this update on its consolidated results of operations and financial position. Recently Adopted Accounting Pronouncements In April 2020, a FASB staff question and answer document was issued which intended to reduce the challenges of evaluating the enforceable rights and obligations of leases for concessions granted to lessees in response to the COVID-19 pandemic. We elected not to evaluate whether qualifying concessions provided by the Company in response to the COVID-19 pandemic are a lease modification, subject to the criteria that the total payments under the amended lease cannot result in a substantial increase in the rights of the lessor or obligations of the lessee . We also elected to treat the concessions as though they were contemplated as part of the existing contracts and therefore will not apply lease modification rules to the qualifying lease concession amendments. As such, deferrals deemed collectible are recorded as rental receivables with no change to timing of rental revenues and deferrals deemed non-collectible and abatements reduce rental revenues in the deferral/abatement period and cause rental revenues to effectively follow a cash basis related to the changes. The accounting elections provided by the FASB mainly apply to the Company’s non-residential leases and the majority of the amendments will not require a straight-line adjustment. See Note 8 for additional discussion. In June 2016, the FASB issued a standard which requires companies to adopt a new approach for estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. In November 2018, the FASB issued an amendment excluding operating lease receivables accounted for under the lease standard from the scope of the credit losses standard. The Company adopted this standard as required effective January 1, 2020 and it did not have a material effect on its consolidated results of operations and financial position.

Business (Tables)

Business (Tables)	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Ownership Breakdown	The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 286 74,468 Master-Leased Property – Consolidated 1 162 Partially Owned Properties – Consolidated 16 3,477 303 78,107

Equity, Capital and Other Int_2

Equity, Capital and Other Interests (Tables)	6 Months Ended
	Jun. 30, 2021
Class Of Stock [Line Items]
Changes in Issued and Outstanding Common Shares and Units	The following table presents the changes in the Company’s issued and outstanding Common Shares and Units for the six months ended June 30, 2021 and 2020: 2021 2020 Common Shares Common Shares outstanding at January 1, 372,302,000 371,670,884 Common Shares Issued: Conversion of OP Units 1,084,023 97,363 Exercise of share options 833,669 217,935 Employee Share Purchase Plan (ESPP) 47,761 44,110 Restricted share grants, net 87,377 178,720 Common Shares outstanding at June 30, 374,354,830 372,209,012 Units Units outstanding at January 1, 13,858,073 13,731,315 Restricted unit grants, net 155,638 245,999 Conversion of OP Units to Common Shares (1,084,023 ) (97,363 ) Units outstanding at June 30, 12,929,688 13,879,951 Total Common Shares and Units outstanding at June 30, 387,284,518 386,088,963 Units Ownership Interest in Operating Partnership 3.3 % 3.6 %
Changes in Redemption Value of Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners for the six months ended June 30, 2021 and 2020, respectively (amounts in 2021 2020 Balance at January 1, $ 338,951 $ 463,400 Change in market value 101,966 (128,753 ) Change in carrying value (794 ) 2,048 Balance at June 30, $ 440,123 $ 336,695
Issued and Outstanding Preferred Shares and Preference Units	The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as June 30, 2021 and December 31, 2020 Amounts in thousands Annual Call Dividend Per June 30, December 31, Date (1) Share/Unit (2) 2021 2020 Preferred Shares/Preference Units of beneficial interest, $0.01 par value; 100,000,000 shares authorized: 8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share/unit; 745,600 shares/units issued and outstanding as of June 30, 2021 and December 31, 2020 12/10/26 $ 4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the call date, redeemable Preferred Shares/Preference Units may be redeemed for cash at the option of the Company or the Operating Partnership, respectively, in whole or in part, at a redemption price equal to the liquidation price per share/unit, plus accrued and unpaid distributions, if any. (2) Dividends on Preferred Shares/Preference Units are payable quarterly.
ERPOP [Member]
Class Of Stock [Line Items]
Changes in Issued and Outstanding Common Shares and Units	The following table presents the changes in the Operating Partnership’s issued and outstanding General Partner Units and Limited Partner Units for the six months ended June 30, 2021 and 2020: 2021 2020 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 386,160,073 385,402,199 Issued to General Partner: Exercise of EQR share options 833,669 217,935 EQR’s Employee Share Purchase Plan (ESPP) 47,761 44,110 EQR’s restricted share grants, net 87,377 178,720 Issued to Limited Partners: Restricted unit grants, net 155,638 245,999 General and Limited Partner Units outstanding at June 30, 387,284,518 386,088,963 Limited Partner Units Limited Partner Units outstanding at January 1, 13,858,073 13,731,315 Limited Partner restricted unit grants, net 155,638 245,999 Conversion of Limited Partner OP Units to EQR Common Shares (1,084,023 ) (97,363 ) Limited Partner Units outstanding at June 30, 12,929,688 13,879,951 Limited Partner Units Ownership Interest in Operating Partnership 3.3 % 3.6 %

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2021
Real Estate [Abstract]
Summary of Carrying Amounts of Investment in Real Estate	The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2021 and December 31, 2020 (amounts in thousands): June 30, 2021 December 31, 2020 Land $ 5,780,705 $ 5,785,367 Depreciable property: Buildings and improvements 18,637,974 18,464,484 Furniture, fixtures and equipment 2,031,407 1,970,033 In-Place lease intangibles 492,603 486,137 Projects under development: Land 10,424 23,531 Construction-in-progress 361,819 387,603 Land held for development: Land 46,160 46,160 Construction-in-progress 44,286 40,010 Investment in real estate 27,405,378 27,203,325 Accumulated depreciation (8,164,287 ) (7,859,657 ) Investment in real estate, net $ 19,241,091 $ 19,343,668
Acquired Properties From Unaffiliated Parties	During the six months ended June 30, 2021, the Company acquired the following from unaffiliated parties (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated (1) 3 813 $ 280,200 Total 3 813 $ 280,200 (1) Purchase price includes an allocation of approximately $30.8 million to land and $250.6 million to depreciable property (inclusive of capitalized closing costs).
Disposed Properties to Unaffiliated Parties	During the six months ended June 30, 2021, the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Rental Properties – Consolidated 5 795 $ 409,500 Total 5 795 $ 409,500

Commitments to Acquire_Dispos_2

Commitments to Acquire/Dispose of Real Estate (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments To Acquire Dispose Of Real Estate [Abstract]
Agreements to Dispose	The Company has entered into separate agreements to dispose of the following (sales price and net book value in thousands): Properties Apartment Units Sales Price Net Book Value at June 30, 2021 Rental Properties - Consolidated 2 454 $ 275,000 $ 98,033 Total 2 454 $ 275,000 $ 98,033

Investments in Partially Owne_2

Investments in Partially Owned Entities (Tables)	6 Months Ended
	Jun. 30, 2021
Investments In Partially Owned Entities [Abstract]
Summary of Company's Investment in Unconsolidated Entities	The following table and information summarizes the Company’s investments in unconsolidated entities, which are accounted for under the equity method of accounting as the requirements for consolidation are not met, as of June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Ownership Percentage Investments in Unconsolidated Entities: Operating Property (VIE) (1) $ 37,204 $ 38,288 33.3% Real Estate Technology (2) 16,609 14,866 Varies Other (449 ) (372 ) Varies Investments in Unconsolidated Entities $ 53,364 $ 52,782 (1) Represents an unconsolidated interest in an entity that owns the land underlying one of the consolidated joint venture properties noted above and owns and operates a related parking facility. The joint venture, as a limited partner, does not have substantive kick-out or participating rights in the entity. As a result, the entity qualifies as a VIE. The joint venture does not have a controlling financial interest in the VIE and is not the VIE’s primary beneficiary. The joint venture does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance or the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result, the entity that owns the land and owns and operates the parking facility is unconsolidated and recorded using the equity method of accounting. (2) Represents unconsolidated investments in five separate real estate technology funds/companies.

Restricted Deposits (Tables)

Restricted Deposits (Tables)	6 Months Ended
	Jun. 30, 2021
Deposits Restricted [Abstract]
Restricted Deposits	The following table presents the Company’s restricted deposits as of June 30, 2021 and December 31, 2020 (amounts in thousands): June 30, 2021 December 31, 2020 Mortgage escrow deposits: Replacement reserves $ 10,497 $ 9,877 Mortgage principal reserves/sinking funds 16,580 14,168 Mortgage escrow deposits 27,077 24,045 Restricted cash: Tax-deferred (1031) exchange proceeds 285,147 — Earnest money on pending acquisitions 6,250 — Restricted deposits on real estate investments 296 307 Resident security and utility deposits 32,405 31,412 Other 1,834 1,373 Restricted cash 325,932 33,092 Restricted deposits $ 353,009 $ 57,137

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income	The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the six months ended June 30, 2021 and 2020 (amounts in thousands): Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Income Type Residential Leases Non-Residential Leases Total Residential Leases Non-Residential Leases Total Residential and non-residential rent $ 1,078,304 $ 31,237 $ 1,109,541 $ 1,207,106 $ 30,221 $ 1,237,327 Utility recoveries (RUBS income) (1) 36,533 330 36,863 35,232 375 35,607 Parking rent 19,890 362 20,252 19,460 223 19,683 Other lease revenue (2) (18,970 ) 1,138 (17,832 ) (6,273 ) (1,231 ) (7,504 ) Total lease revenue $ 1,115,757 $ 33,067 1,148,824 $ 1,255,525 $ 29,588 1,285,113 Parking revenue 11,572 11,312 Other revenue 35,265 39,412 Total other rental income (3) 46,837 50,724 Rental income $ 1,195,661 $ 1,335,837 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended June 30, 2021 and 2020 (amounts in thousands): Quarter Ended June 30, 2021 Quarter Ended June 30, 2020 Income Type Residential Leases Non-Residential Leases Total Residential Leases Non-Residential Leases Total Residential and non-residential rent $ 538,649 $ 15,398 $ 554,047 $ 594,626 $ 12,127 $ 606,753 Utility recoveries (RUBS income) (1) 18,579 152 18,731 17,814 147 17,961 Parking rent 10,156 95 10,251 9,627 126 9,753 Other lease revenue (2) (8,708 ) 529 (8,179 ) (6,060 ) (951 ) (7,011 ) Total lease revenue $ 558,676 $ 16,174 574,850 $ 616,007 $ 11,449 627,456 Parking revenue 6,139 4,529 Other revenue 17,070 21,547 Total other rental income (3) 23,209 26,076 Rental income $ 598,059 $ 653,532 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard.
Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances	The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of June 30, 2021 and December 31, 2020 (amounts in thousands): Residential Non-Residential Balance Sheet (Other assets): June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Resident/tenant accounts receivable balances $ 43,415 $ 30,856 $ 6,122 $ 7,598 Allowance for doubtful accounts (39,014 ) (24,021 ) (5,232 ) (6,527 ) Net receivable balances $ 4,401 (1) $ 6,835 $ 890 $ 1,071 Straight-line receivable balances $ 20,487 $ 19,992 $ 12,801 $ 13,413 (1) The Company held residential security deposits approximating 48.7% of the net receivable balance at June 30, 2021
Summary of Residential Bad Debt for Company's Properties	The following table presents residential bad debt for the Company’s properties for the six months and quarters ended June 30, 2021 and 2020 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, Income Statement (Rental income): 2021 2020 2021 2020 Bad debt, net $ 25,772 $ 13,348 $ 12,079 $ 9,564 % of rental income 2.2 % 1.0 % 2.1 % 1.5 %

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Instrument [Line Items]
Summary of Mortgage Notes Payable Activity	The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2021 (amounts in thousands): Mortgage notes payable, net as of December 31, 2020 Proceeds Lump sum payoffs Scheduled principal repayments Amortization of premiums/ discounts Amortization of deferred financing costs, net (1) Mortgage notes payable, net as of June 30, 2021 Fixed Rate Debt: Secured – Conventional $ 1,901,091 $ 28,500 (2) $ (28,200 ) $ (3,713 ) $ 758 $ 354 $ 1,898,790 Floating Rate Debt: Secured – Conventional 31,494 19,259 — — — 120 50,873 Secured – Tax Exempt 361,305 — (31,680 ) — 616 347 330,588 Floating Rate Debt 392,799 19,259 (31,680 ) — 616 467 381,461 Total $ 2,293,890 $ 47,759 $ (59,880 ) $ (3,713 ) $ 1,374 $ 821 $ 2,280,251 (1) Represents amortization of deferred financing costs, net of debt financing costs. (2) Obtained 3.58% fixed rate mortgage debt maturing on March 1, 2031.
Summary of Notes Activity	The following table summarizes the Company’s notes activity for the six months ended June 30, 2021 (amounts in thousands): Notes, net as of December 31, 2020 Proceeds Lump sum payoffs Realized/unrealized (gain) loss on derivative instruments Amortization of premiums/ discounts Amortization of deferred financing costs, net (1) Notes, net as of June 30, 2021 Fixed Rate Debt: Unsecured – Public $ 5,335,536 $ — $ — $ — $ 1,219 $ 1,916 $ 5,338,671 (1) Represents amortization of deferred financing costs, net of debt financing costs.
Schedule of Unsecured Revolving Credit Facility	The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2021 (amounts in thousands): June 30, 2021 Unsecured revolving credit facility commitment $ 2,500,000 Commercial paper balance outstanding (632,000 ) Unsecured revolving credit facility balance outstanding — Other restricted amounts (100,699 ) Unsecured revolving credit facility availability $ 1,767,301
Schedule of Debt Extinguishment Costs Recorded as Additional Interest Expense	The following table summarizes the Company’s total debt extinguishment costs recorded as additional interest expense during the six months ended June 30, 2021 June 30, 2021 Write-offs of unamortized deferred financing costs $ 264
Mortgages [Member]
Debt Instrument [Line Items]
Summary of Certain Interest Rate and Maturity Date Information	The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2021: June 30, 2021 Interest Rate Ranges 0.03% - 4.21% Weighted Average Interest Rate 3.17% Maturity Date Ranges 2022-2061
Notes [Member]
Debt Instrument [Line Items]
Summary of Certain Interest Rate and Maturity Date Information	The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2021: June 30, 2021 Interest Rate Ranges 2.50% - 7.57% Weighted Average Interest Rate 3.75% Maturity Date Ranges 2023-2047

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Valuations for Each Type of Fair Value Measurement	The following table summarizes the inputs to the valuations for each type of fair value measurement: Fair Value Measurement Type Valuation Inputs Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”) Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets. Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Quoted market price of Common Shares. Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable) Indicative rates provided by lenders of similar loans. Public unsecured notes Quoted market prices for each underlying issuance.
Summary of Carrying and Fair Values of Financial Instruments	The June 30, 2021 December 31, 2020 Carrying Value Estimated Fair Value (Level 2) Carrying Value Estimated Fair Value (Level 2) Mortgage notes payable, net $ 2,280,251 $ 2,308,025 $ 2,293,890 $ 2,313,263 Unsecured debt, net 5,970,441 6,688,195 5,750,366 6,686,612 Total debt, net $ 8,250,692 $ 8,996,220 $ 8,044,256 $ 8,999,875
Summary of Fair Value Measurements for Each Major Category of Assets and Liabilities Measured at Fair Value on Recurring Basis	The Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 6/30/2021 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Supplemental Executive Retirement Plan Other Assets $ 162,179 $ 162,179 $ — $ — Liabilities Supplemental Executive Retirement Plan Other Liabilities $ 162,179 $ 162,179 $ — $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 440,123 $ — $ 440,123 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2020 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Supplemental Executive Retirement Plan Other Assets $ 160,293 $ 160,293 $ — $ — Liabilities Supplemental Executive Retirement Plan Other Liabilities $ 160,293 $ 160,293 $ — $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 338,951 $ — $ 338,951 $ —
Summary of Effect of Cash Flow Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income	The Effective Portion June 30, 2021 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/(Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ — Interest expense $ (4,637 ) Total $ — $ (4,637 ) Effective Portion June 30, 2020 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/(Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (1,190 ) Interest expense $ (11,398 ) Total $ (1,190 ) $ (11,398 )

Earnings Per Share and Earnin_2

Earnings Per Share and Earnings Per Unit (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit	The Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Numerator for net income per share – basic: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Allocation to Noncontrolling Interests – Operating Partnership (13,056 ) (21,248 ) (10,913 ) (9,713 ) Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Preferred distributions (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per share – basic $ 372,380 $ 567,949 $ 315,614 $ 260,116 Numerator for net income per share – diluted: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Preferred distributions (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per share – diluted $ 385,436 $ 589,197 $ 326,527 $ 269,829 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 373,050 371,689 373,812 371,795 Effect of dilutive securities: OP Units 12,544 13,013 12,044 13,023 Long-term compensation shares/units 1,773 1,570 1,964 1,095 Denominator for net income per share – diluted 387,367 386,272 387,820 385,913 Net income per share – basic $ 1.00 $ 1.53 $ 0.84 $ 0.70 Net income per share – diluted $ 1.00 $ 1.53 $ 0.84 $ 0.70
ERPOP [Member]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit	The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Numerator for net income per Unit – basic and diluted: Net income $ 388,404 $ 604,152 $ 328,040 $ 271,481 Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,423 ) (13,410 ) (741 ) (880 ) Allocation to Preference Units (1,545 ) (1,545 ) (772 ) (772 ) Numerator for net income per Unit – basic and diluted $ 385,436 $ 589,197 $ 326,527 $ 269,829 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 385,594 384,702 385,856 384,818 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units 1,773 1,570 1,964 1,095 Denominator for net income per Unit – diluted 387,367 386,272 387,820 385,913 Net income per Unit – basic $ 1.00 $ 1.53 $ 0.84 $ 0.70 Net income per Unit – diluted $ 1.00 $ 1.53 $ 0.84 $ 0.70

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations	The Six Months Ended June 30, Quarter Ended June 30, 2021 2020 2021 2020 Rental income $ 1,195,661 $ 1,335,837 $ 598,059 $ 653,532 Property and maintenance expense (224,800 ) (220,268 ) (107,746 ) (104,452 ) Real estate taxes and insurance expense (200,871 ) (192,770 ) (97,401 ) (95,038 ) Total operating expenses (425,671 ) (413,038 ) (205,147 ) (199,490 ) Net operating income $ 769,990 $ 922,799 $ 392,912 $ 454,042
Schedule of NOI for Each Segment from Rental Real Estate Specific to Continuing Operations	The following tables present NOI for each segment from our rental real estate for the six months and quarters ended June 30, 2021 and 2020, respectively, as well as total assets and capital expenditures at June 30, 2021 (amounts in thousands): Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Los Angeles $ 226,592 $ 74,889 $ 151,703 $ 241,570 $ 73,626 $ 167,944 Orange County 52,510 12,458 40,052 53,013 12,083 40,930 San Diego 37,928 9,185 28,743 37,365 9,033 28,332 Subtotal - Southern California 317,030 96,532 220,498 331,948 94,742 237,206 San Francisco 209,617 65,034 144,583 246,209 62,389 183,820 Washington D.C. 198,147 64,973 133,174 207,958 62,819 145,139 New York 196,304 102,288 94,016 226,532 98,230 128,302 Seattle 120,831 38,720 82,111 133,338 37,070 96,268 Boston 113,714 37,719 75,995 123,673 35,275 88,398 Denver 18,920 5,674 13,246 19,074 5,427 13,647 Total same store 1,174,563 410,940 763,623 1,288,732 395,952 892,780 Non-same store/other (2) (3) Non-same store 10,499 3,506 6,993 7,374 1,611 5,763 Other (3) 10,599 11,225 (626 ) 39,731 15,475 24,256 Total non-same store/other 21,098 14,731 6,367 47,105 17,086 30,019 Totals $ 1,195,661 $ 425,671 $ 769,990 $ 1,335,837 $ 413,038 $ 922,799 (1) For the six months ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment (2) For the six months ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Quarter Ended June 30, 2021 Quarter Ended June 30, 2020 Rental Income Operating Expenses NOI Rental Income Operating Expenses NOI Same store (1) Los Angeles $ 113,639 $ 36,769 $ 76,870 $ 118,686 $ 35,841 $ 82,845 Orange County 26,669 6,122 20,547 26,318 5,910 20,408 San Diego 19,188 4,545 14,643 18,587 4,447 14,140 Subtotal - Southern California 159,496 47,436 112,060 163,591 46,198 117,393 San Francisco 104,285 31,759 72,526 121,106 30,593 90,513 Washington D.C. 99,030 31,651 67,379 103,241 30,717 72,524 New York 98,271 49,834 48,437 110,230 47,908 62,322 Seattle 60,574 19,372 41,202 66,096 18,778 47,318 Boston 57,777 18,512 39,265 60,711 17,087 43,624 Denver 9,575 2,643 6,932 9,418 2,639 6,779 Total same store 589,008 201,207 387,801 634,393 193,920 440,473 Non-same store/other (2) (3) Non-same store 4,589 1,755 2,834 2,190 298 1,892 Other (3) 4,462 2,185 2,277 16,949 5,272 11,677 Total non-same store/other 9,051 3,940 5,111 19,139 5,570 13,569 Totals $ 598,059 $ 205,147 $ 392,912 $ 653,532 $ 199,490 $ 454,042 (1) For the quarters ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2020, less properties subsequently sold, which represented 76,556 apartment (2) For the quarters ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after April 1, 2020, plus any properties in lease-up and not stabilized as of April 1, (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Six Months Ended June 30, 2021 Total Assets Capital Expenditures Same store (1) Los Angeles $ 3,052,015 $ 8,232 Orange County 380,069 2,372 San Diego 237,670 1,427 Subtotal - Southern California 3,669,754 12,031 San Francisco 3,442,539 10,443 Washington D.C. 3,291,944 13,108 New York 3,951,560 13,956 Seattle 1,987,663 6,723 Boston 1,726,284 9,067 Denver 502,062 615 Total same store 18,571,806 65,943 Non-same store/other (2) (3) Non-same store 663,201 288 Other (3) 1,229,339 212 Total non-same store/other 1,892,540 500 Totals $ 20,464,346 $ 66,443 (1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment (2) Non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, (3) Other includes development, other corporate operations and capital expenditures for properties

Business - Additional Informati

Business - Additional Information (Details)	Jun. 30, 2021StatePropertyApartmentUnit
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of states in which entity operates | State	9
Properties | Property	303
Apartment units | ApartmentUnit	78,107
ERPOP [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Noncontrolling interest, ownership percentage by parent	96.70%

Business - Ownership Breakdown

Business - Ownership Breakdown (Details)	Jun. 30, 2021PropertyApartmentUnit
Property/Unit schedule
Properties | Property	303
Apartment Units | ApartmentUnit	78,107
Wholly Owned Properties
Property/Unit schedule
Properties | Property	286
Apartment Units | ApartmentUnit	74,468
Master-Leased Property Consolidated
Property/Unit schedule
Properties | Property	1
Apartment Units | ApartmentUnit	162
Partially Owned Properties – Consolidated
Property/Unit schedule
Properties | Property	16
Apartment Units | ApartmentUnit	3,477

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Provision for income tax	$ 242,000	$ 187,000	$ 395,000	$ 240,000
Federal [Member]
Provision for income tax			$ 0

Equity, Capital and Other Int_3

Equity, Capital and Other Interests - Changes in Company's Issued and Outstanding Common Shares and Units (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Equity Capital And Other Interests [Abstract]
Common Stock, Shares, Outstanding	372,302,000	371,670,884
Common Shares Issued:
Conversion of OP Units	1,084,023	97,363
Exercise of share options	833,669	217,935
Employee Share Purchase Plan (ESPP)	47,761	44,110
Restricted share grants, net	87,377	178,720
Common Stock, Shares, Outstanding	374,354,830	372,209,012
Units
Total Units Outstanding	13,858,073	13,731,315
Restricted unit grants, net	155,638	245,999
Conversion of OP Units to Common Shares	(1,084,023)	(97,363)
Total Units Outstanding	12,929,688	13,879,951
Common Shares And Units Outstanding	387,284,518	386,088,963
Units Ownership Interest in Operating Partnership	3.30%	3.60%

Equity, Capital and Other Int_4

Equity, Capital and Other Interests - Changes in Operating Partnership's Issued and Outstanding General Partner Units and Limited Partner Units (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
General and Limited Partner Units
Exercise of share options	833,669	217,935
Employee Share Purchase Plan (ESPP)	47,761	44,110
Restricted share grants, net	87,377	178,720
Restricted unit grants, net	155,638	245,999
Common Shares And Units Outstanding	387,284,518	386,088,963
Limited Partner Units
Total Units Outstanding	13,858,073	13,731,315
Restricted unit grants, net	155,638	245,999
Conversion of Limited Partner OP Units to EQR Common Shares	(1,084,023)	(97,363)
Total Units Outstanding	12,929,688	13,879,951
Units Ownership Interest in Operating Partnership	3.30%	3.60%
ERPOP [Member]
General and Limited Partner Units
Common Shares And Units Outstanding	386,160,073	385,402,199
Exercise of share options	833,669	217,935
Employee Share Purchase Plan (ESPP)	47,761	44,110
Restricted share grants, net	87,377	178,720
Restricted unit grants, net	155,638	245,999
Common Shares And Units Outstanding	387,284,518	386,088,963
Limited Partner Units
Total Units Outstanding	13,858,073	13,731,315
Restricted unit grants, net	155,638	245,999
Conversion of Limited Partner OP Units to EQR Common Shares	(1,084,023)	(97,363)
Total Units Outstanding	12,929,688	13,879,951
Units Ownership Interest in Operating Partnership	3.30%	3.60%

Equity, Capital and Other Int_5

Equity, Capital and Other Interests - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Equity Capital And Other Interests [Abstract]
Redeemable noncontrolling interests - operating partnership	$ 440,123	$ 338,951	$ 336,695	$ 463,400
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, par or stated value per share	$ 0.01	$ 0.01

Equity, Capital and Other Int_6

Equity, Capital and Other Interests - Changes in Redemption Value of Redeemable Noncontrolling Interests - Operating Partnership (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Equity Capital And Other Interests [Abstract]
Redeemable Noncontrolling Interests - Operating Partnership Units	$ 338,951	$ 463,400
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership	101,966	(128,753)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(794)	2,048
Redeemable Noncontrolling Interests - Operating Partnership Units	$ 440,123	$ 336,695

Equity, Capital and Other Int_7

Equity, Capital and Other Interests - Changes in Redemption Value of Redeemable Limited Partners Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Equity Capital And Other Interests [Abstract]
Redeemable Limited Partners	$ 338,951	$ 463,400
Limited Partners Change In Redemption Value	101,966	(128,753)
Limited Partners Change In Carrying Value	(794)	2,048
Redeemable Limited Partners	$ 440,123	$ 336,695

Equity, Capital and Other Int_8

Equity, Capital and Other Interests - Issued and Outstanding Preferred Shares and Preference Units (Details) - ERPOP [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share; 745,600 shares issued and outstanding as of March 31, 2021 and December 31, 2020	$ 37,280	$ 37,280
Preferred Stock
Class Of Stock [Line Items]
Preferred Stocks Preference Units Call Date	Dec. 10, 2026
Annual Dividend Per Preferred Share Preference Unit	$ 4.145
8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share; 745,600 shares issued and outstanding as of March 31, 2021 and December 31, 2020	$ 37,280	$ 37,280

Equity, Capital and Other Int_9

Equity, Capital and Other Interests - Issued and Outstanding Preferred Shares and Preference Units (Parenthetical) (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock
Class Of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	745,600
Preferred Stock Preference Units Outstanding	745,600	745,600
Preferred Stock Preference Units Redemption Price Per Share	$ 50	$ 50
Preferred Stock Preference Units Dividend Rate Percentage	8.29%	8.29%

Equity, Capital and Other In_10

Equity, Capital and Other Interests - Other - Additional Information (Details)	89 Months Ended	162 Months Ended
	Jun. 30, 2021shares	Jun. 30, 2021shares
Equity Capital And Other Interests [Abstract]
Additional common shares authorized	13,000,000	13,000,000
Stock repurchase program, number of shares authorized to be repurchased	13,000,000	13,000,000
Stock open market repurchased and retired during period, shares	0	0
Stock repurchase program, remaining number of shares authorized to be repurchased	13,000,000	13,000,000

Real Estate - Summary of Carryi

Real Estate - Summary of Carrying Amounts of Investment in Real Estate (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Land	$ 5,780,705	$ 5,785,367
Depreciable property:
Buildings and improvements	18,637,974	18,464,484
Furniture, fixtures and equipment	2,031,407	1,970,033
In-Place lease intangibles	492,603	486,137
Projects under development:
Projects under development	372,243	411,134
Land held for development:
Land held for development	90,446	86,170
Investment in real estate	27,405,378	27,203,325
Accumulated depreciation	(8,164,287)	(7,859,657)
Investment in real estate, net	19,241,091	19,343,668
Land [Member]
Projects under development:
Projects under development	10,424	23,531
Land held for development:
Land held for development	46,160	46,160
Construction-in-progress [Member]
Projects under development:
Projects under development	361,819	387,603
Land held for development:
Land held for development	$ 44,286	$ 40,010

Real Estate - Acquired Properti

Real Estate - Acquired Properties From Unaffiliated Parties (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)PropertyApartmentUnit
Properties acquired | Property	3
Property Units acquired | ApartmentUnit	813
Purchase Price | $	$ 280,200
Rental Properties – Consolidated [Member]
Properties acquired | Property	3
Property Units acquired | ApartmentUnit	813
Purchase Price | $	$ 280,200

Real Estate - Acquired Proper_2

Real Estate - Acquired Properties From Unaffiliated Parties (Parenthetical) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Purchase price	$ 280,200
Land [Member]
Purchase price	30,800
Depreciable Property [Member]
Purchase price	$ 250,600

Real Estate - Disposed Properti

Real Estate - Disposed Properties to Unaffiliated Parties (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)PropertyApartmentUnit
Properties disposed | Property	5
Property Units disposed | ApartmentUnit	795
Sales Price | $	$ 409,500
Rental Properties – Consolidated [Member]
Properties disposed | Property	5
Property Units disposed | ApartmentUnit	795
Sales Price | $	$ 409,500

Real Estate - Additional Inform

Real Estate - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Real Estate [Abstract]
Net gain on sales of real estate properties	$ 223,738	$ 144,266	$ 223,695	$ 352,243

Commitments to Acquire_Dispos_3

Commitments to Acquire/Dispose of Real Estate - Separate Agreements to Dispose (Details) $ in Thousands	Jun. 30, 2021USD ($)PropertyApartmentUnit
Property/Unit schedule
Properties | Property	2
Apartment Units | ApartmentUnit	454
Sales Price	$ 275,000
Net Book Value at June 30, 2021	$ 98,033
Rental Properties – Consolidated [Member] | Wholly Owned Properties [Member]
Property/Unit schedule
Properties | Property	2
Apartment Units | ApartmentUnit	454
Sales Price	$ 275,000
Net Book Value at June 30, 2021	$ 98,033

Investments in Partially Owne_3

Investments in Partially Owned Entities - Consolidated Variable Interest Entities ("VIEs") - Additional Information (Details) $ in Thousands	Jun. 30, 2021USD ($)PropertyApartmentUnit	Dec. 31, 2020USD ($)
Variable Interest Entity [Line Items]
Properties | Property	303
Apartment units | ApartmentUnit	78,107
Total assets	$ 20,464,346	$ 20,286,891
Total liabilities	$ 9,382,176	9,184,454
Consolidated VIE [Member]
Variable Interest Entity [Line Items]
Properties | Property	16
Apartment units | ApartmentUnit	3,477
Total assets	$ 778,600	784,100
Total liabilities	$ 242,000	$ 224,000

Investments in Partially Owne_4

Investments in Partially Owned Entities - Summary of Company's Investment in Unconsolidated Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	$ 53,364	$ 52,782
Real Estate Technology [Member]
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	16,609	14,866
Other [Member]
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	(449)	(372)
Unconsolidated VIE [Member] | Operating Property [Member]
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	$ 37,204	$ 38,288
Ownership Percentage	33.30%

Investments in Partially Owne_5

Investments in Partially Owned Entities - Summary of Company's Investment in Unconsolidated Entities (Parenthetical) (Details)	Jun. 30, 2021Entity
Real Estate Technology [Member]
Variable Interest Entity [Line Items]
Number of separate unconsolidated investment funds/Companies	5

Restricted Deposits - Restricte

Restricted Deposits - Restricted Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Mortgage escrow deposits:
Replacement reserves	$ 10,497	$ 9,877
Mortgage principal reserves/sinking funds	16,580	14,168
Mortgage escrow deposits	27,077	24,045
Restricted cash:
Tax-deferred (1031) exchange proceeds	285,147
Earnest money on pending acquisitions	6,250
Restricted deposits on real estate investments	296	307
Resident security and utility deposits	32,405	31,412
Other	1,834	1,373
Restricted cash	325,932	33,092
Restricted deposits	$ 353,009	$ 57,137	$ 58,117

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Residential Apartment Leases [Member]
Operating Leased Assets [Line Items]
Percentage of rental income	97.00%
Residential Apartment Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Retail leases term	12 months
Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Percentage of rental income	3.00%
Non-residential Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Retail leases term	10 years
Non-residential Leases [Member] | Minimum [Member]
Operating Leased Assets [Line Items]
Retail leases term	5 years

Leases - Summary of Lease Incom

Leases - Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating Leased Assets [Line Items]
Total lease revenue	$ 574,850	$ 627,456	$ 1,148,824	$ 1,285,113
Rental income	598,059	653,532	1,195,661	1,335,837
Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	558,676	616,007	1,115,757	1,255,525
Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	16,174	11,449	33,067	29,588
Residential and Non-Residential Rent [Member]
Operating Leased Assets [Line Items]
Total lease revenue	554,047	606,753	1,109,541	1,237,327
Residential and Non-Residential Rent [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	538,649	594,626	1,078,304	1,207,106
Residential and Non-Residential Rent [Member] | Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	15,398	12,127	31,237	30,221
Utility Recoveries (RUBS Income) [Member]
Operating Leased Assets [Line Items]
Total lease revenue	18,731	17,961	36,863	35,607
Utility Recoveries (RUBS Income) [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	18,579	17,814	36,533	35,232
Utility Recoveries (RUBS Income) [Member] | Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	152	147	330	375
Parking Rent [Member]
Operating Leased Assets [Line Items]
Total lease revenue	10,251	9,753	20,252	19,683
Parking Rent [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	10,156	9,627	19,890	19,460
Parking Rent [Member] | Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	95	126	362	223
Other Lease Revenue [Member]
Operating Leased Assets [Line Items]
Total lease revenue	(8,179)	(7,011)	(17,832)	(7,504)
Other Lease Revenue [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	(8,708)	(6,060)	(18,970)	(6,273)
Other Lease Revenue [Member] | Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	529	(951)	1,138	(1,231)
Parking Revenue
Operating Leased Assets [Line Items]
Rental income	6,139	4,529	11,572	11,312
Other Revenue
Operating Leased Assets [Line Items]
Rental income	17,070	21,547	35,265	39,412
Other Rental Income [Member]
Operating Leased Assets [Line Items]
Rental income	$ 23,209	$ 26,076	$ 46,837	$ 50,724

Leases - Summary of Residential

Leases - Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances (Details) - Other Assets [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Residential Leases [Member]
Operating Leased Assets [Line Items]
Resident/tenant accounts receivable balances	$ 43,415	$ 30,856
Allowance for doubtful accounts	(39,014)	(24,021)
Net receivable balances	4,401	6,835
Straight-line receivable balances	20,487	19,992
Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Resident/tenant accounts receivable balances	6,122	7,598
Allowance for doubtful accounts	(5,232)	(6,527)
Net receivable balances	890	1,071
Straight-line receivable balances	$ 12,801	$ 13,413

Leases - Summary of Residenti_2

Leases - Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances (Parenthetical) (Details)	Jun. 30, 2021
Leases [Abstract]
Holding percentage of residential security deposits of net receivable	48.70%

Leases - Summary of Residenti_3

Leases - Summary of Residential Bad Debt for Company's Properties (Details) - Residential Leases [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessor Lease Description [Line Items]
Bad debt, net	$ 12,079	$ 9,564	$ 25,772	$ 13,348
Rental Income [Member]
Lessor Lease Description [Line Items]
% of rental income	2.10%	1.50%	2.20%	1.00%

Debt - Mortgage Notes Payable -

Debt - Mortgage Notes Payable - Summary of Mortgage Notes Payable Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	$ 2,293,890
Proceeds	47,759	$ 495,145
Lump sum payoffs	(59,880)	(91,500)
Scheduled principal repayments	(3,713)
Amortization of premiums/ discounts	1,374	$ 1,191
Amortization of deferred financing costs, net	821
Mortgage notes payable, net ending balance	2,280,251
Fixed Rate Debt [Member] | Secured – Conventional [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	1,901,091
Proceeds	28,500
Lump sum payoffs	(28,200)
Scheduled principal repayments	(3,713)
Amortization of premiums/ discounts	758
Amortization of deferred financing costs, net	354
Mortgage notes payable, net ending balance	1,898,790
Floating Rate Debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	392,799
Proceeds	19,259
Lump sum payoffs	(31,680)
Amortization of premiums/ discounts	616
Amortization of deferred financing costs, net	467
Mortgage notes payable, net ending balance	381,461
Floating Rate Debt [Member] | Secured – Conventional [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	31,494
Proceeds	19,259
Amortization of deferred financing costs, net	120
Mortgage notes payable, net ending balance	50,873
Floating Rate Debt [Member] | Secured – Tax Exempt [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	361,305
Lump sum payoffs	(31,680)
Amortization of premiums/ discounts	616
Amortization of deferred financing costs, net	347
Mortgage notes payable, net ending balance	$ 330,588

Debt - Mortgage Notes Payable_2

Debt - Mortgage Notes Payable - Summary of Mortgage Notes Payable Activity (Parenthetical) (Details)	6 Months Ended
	Jun. 30, 2021
Debt Instrument [Line Items]
Debt instrument, maturity date	Nov. 1, 2024
Fannie Mae Loan Pool [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.58%
Debt instrument, maturity date	Mar. 1, 2031

Debt - Mortgage Notes Payable_3

Debt - Mortgage Notes Payable - Summary of Certain Interest Rate and Maturity Date Information (Details) - Mortgages [Member]	6 Months Ended
	Jun. 30, 2021
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.17%
Maturity Date Ranges, Start	2022
Maturity Date Ranges, End	2061
Minimum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	0.03%
Maximum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	4.21%

Debt - Mortgage Notes Payable_4

Debt - Mortgage Notes Payable - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Mortgage notes payable	$ 2,280,251	$ 2,293,890
Credit Enhanced Debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 250,000

Debt - Notes - Summary of Notes

Debt - Notes - Summary of Notes Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Notes, net beginning balance	$ 5,335,536
Amortization of premiums/ discounts	1,219	$ 1,362
Notes, net ending balance	5,338,671
Fixed Rate Debt [Member] | Unsecured – Public [Member]
Debt Instrument [Line Items]
Notes, net beginning balance	5,335,536
Amortization of premiums/ discounts	1,219
Amortization of deferred financing costs, net	1,916
Notes, net ending balance	$ 5,338,671

Debt - Notes - Summary of Certa

Debt - Notes - Summary of Certain Interest Rate and Maturity Date Information (Details) - Notes [Member]	6 Months Ended
	Jun. 30, 2021
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.75%
Maturity Date Ranges, Start	2023
Maturity Date Ranges, End	2047
Minimum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	2.50%
Maximum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	7.57%

Debt - Line of Credit and Comme

Debt - Line of Credit and Commercial Paper - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Nov. 1, 2024
Commercial paper balance outstanding	$ 1,000,000,000
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Weighted average interest rates	0.29%
Commercial paper weighted average days outstanding	46 days
Weighted average amount outstanding	$ 585,100,000
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	2,500,000,000
Ability to increase LOC facility	$ 750,000,000
Debt instrument, basis spread on variable rate	0.775%
Percentage points of line of credit facility commitment fee	0.125%
Revolving credit facility	$ 0
Commercial paper balance outstanding	$ 632,000,000

Debt - Line of Credit and Com_2

Debt - Line of Credit and Commercial Paper - Schedule of Unsecured Revolving Credit Facility (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Line of Credit Facility [Line Items]
Commercial paper balance outstanding	$ (1,000,000,000)
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility commitment	2,500,000,000
Commercial paper balance outstanding	(632,000,000)
Unsecured revolving credit facility balance outstanding	0
Other restricted amounts	(100,699,000)
Unsecured revolving credit facility availability	$ 1,767,301,000

Debt - Other - Schedule of Debt

Debt - Other - Schedule of Debt Extinguishment Costs Recorded as Additional Interest Expense (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
Write-offs of unamortized deferred financing costs	$ 264

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative Instrument Detail [Abstract]
Net gain on sale of investments	$ 23,400,000
Investment securities outstanding	0
Unrealized gain (loss) on interest rate cash flow hedges, pretax, accumulated other comprehensive income (loss)	39,000,000	$ 43,700,000
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ 10,400,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Valuations for Each Type of Fair Value Measurement (Details)	6 Months Ended
	Jun. 30, 2021
Employee Holdings Within The Supplemental Executive Retirement Plan
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”)
Valuation Inputs	Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets.
Redeemable Noncontrolling Interests Operating Partnership Redeemable Limited Partners
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners
Valuation Inputs	Quoted market price of Common Shares.
Mortgage Notes Payable And Private Unsecured Debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable)
Valuation Inputs	Indicative rates provided by lenders of similar loans.
Public Unsecured Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Public unsecured notes
Valuation Inputs	Quoted market prices for each underlying issuance.

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	$ 8,250,692	$ 8,044,256
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	8,996,220	8,999,875
Mortgage Notes Payable, Net [Member] | Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	2,280,251	2,293,890
Mortgage Notes Payable, Net [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	2,308,025	2,313,263
Unsecured Debt [Member] | Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	5,970,441	5,750,366
Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	$ 6,688,195	$ 6,686,612

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of Fair Value Measurements for Each Major Category of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Fair Value Of SERP Investments	$ 162,179	$ 160,293
Other Liabilities, Fair Value Disclosure	162,179	160,293
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	440,123	338,951	$ 336,695	$ 463,400
Fair Value, Inputs, Level 1 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of SERP Investments	162,179	160,293
Other Liabilities, Fair Value Disclosure	162,179	160,293
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	0	0
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of SERP Investments	0	0
Other Liabilities, Fair Value Disclosure	0	0
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	440,123	338,951
Fair Value, Inputs, Level 3 [Member]
Derivatives, Fair Value [Line Items]
Fair Value Of SERP Investments	0	0
Other Liabilities, Fair Value Disclosure	0	0
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	$ 0	$ 0

Fair Value Measurements - Sum_4

Fair Value Measurements - Summary of Effect of Cash Flow Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion - Amount of Gain/(Loss) Recognized in OCI on Derivative	$ 0	$ (1,190)
Effective Portion - Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	(4,637)	(11,398)
Forward Starting Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion - Amount of Gain/(Loss) Recognized in OCI on Derivative	0	(1,190)
Effective Portion - Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ (4,637)	$ (11,398)

Earnings Per Share and Earnin_3

Earnings Per Share and Earnings Per Unit - Computation of Net Income per Share Basic and Net Income per Share Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 328,040	$ 271,481	$ 388,404	$ 604,152
Allocation to Noncontrolling Interests – Operating Partnership	(10,913)	(9,713)	(13,056)	(21,248)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Preferred distributions	(772)	(772)	(1,545)	(1,545)
Net income available to Common Shares	315,614	260,116	372,380	567,949
Numerator for net income per share – diluted	$ 326,527	$ 269,829	$ 385,436	$ 589,197
Weighted average Common Shares outstanding	373,812	371,795	373,050	371,689
OP Units	12,044	13,023	12,544	13,013
Dilutive Securities Options	1,964	1,095	1,773	1,570
Denominator for net income per share – diluted	387,820	385,913	387,367	386,272
Net income per share – basic	$ 0.84	$ 0.70	$ 1	$ 1.53
Net income per share – diluted	$ 0.84	$ 0.70	$ 1	$ 1.53

Earnings Per Share and Earnin_4

Earnings Per Share and Earnings Per Unit - Computation of Net Income per Unit Basic and Net Income per Unit Diluted for Operating Partnership (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income	$ 328,040	$ 271,481	$ 388,404	$ 604,152
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	$ (741)	$ (880)	$ (1,423)	$ (13,410)
Dilutive Securities Options	1,964	1,095	1,773	1,570
Denominator for net income per share – diluted	387,820	385,913	387,367	386,272
Net income per Unit – basic	$ 0.84	$ 0.70	$ 1	$ 1.53
Net income per Unit – diluted	$ 0.84	$ 0.70	$ 1	$ 1.53
ERPOP [Member]
Net income	$ 328,040	$ 271,481	$ 388,404	$ 604,152
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(741)	(880)	(1,423)	(13,410)
Allocation to Preference Units	(772)	(772)	(1,545)	(1,545)
Numerator for net income per Unit – basic and diluted	$ 326,527	$ 269,829	$ 385,436	$ 589,197
Denominator for net income per Unit – basic	385,856	384,818	385,594	384,702
Dilutive Securities Options	1,964	1,095	1,773	1,570
Denominator for net income per share – diluted	387,820	385,913	387,367	386,272
Net income per Unit – basic	$ 0.84	$ 0.70	$ 1	$ 1.53
Net income per Unit – diluted	$ 0.84	$ 0.70	$ 1	$ 1.53

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)PropertyApartmentUnitAgreement	Jun. 30, 2021USD ($)PropertyApartmentUnitAgreement
Commitments And Contingencies [Abstract]
Projects in various stages of development | Property	2	2
Partially owned projects in lease-up | Property		1
Units in various stages of development | ApartmentUnit	624	624
Consolidated project under development commitment fund | $	$ 60.5	$ 60.5
Various stages of development with estimated completion dates ranging through December 31, 2021		Dec. 31, 2021
Number of joint venture agreement | Agreement		2
Number of joint venture agreement completed | Agreement	1

Reportable Segments - Additiona

Reportable Segments - Additional Information (Details) - Customer	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Number of customer contributed 10% or more of total revenue	0	0
Non-residential Leases [Member] | Revenue [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	3.80%

Reportable Segments - Reconcili

Reportable Segments - Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Rental income	$ 598,059	$ 653,532	$ 1,195,661	$ 1,335,837
Property and maintenance expense	(107,746)	(104,452)	(224,800)	(220,268)
Real estate taxes and insurance expense	(97,401)	(95,038)	(200,871)	(192,770)
Operating income	376,844	356,889	512,404	778,974
Same Store, Non-same Store and Other
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Rental income	598,059	653,532	1,195,661	1,335,837
Property and maintenance expense	(107,746)	(104,452)	(224,800)	(220,268)
Real estate taxes and insurance expense	(97,401)	(95,038)	(200,871)	(192,770)
Total operating expenses	(205,147)	(199,490)	(425,671)	(413,038)
Operating income	$ 392,912	$ 454,042	$ 769,990	$ 922,799

Reportable Segments - NOI for E

Reportable Segments - NOI for Each Segment from Our Rental Real Estate Specific to Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Rental income	$ 598,059	$ 653,532	$ 1,195,661	$ 1,335,837
Operating income	376,844	356,889	512,404	778,974
Total Assets	20,464,346		20,464,346		$ 20,286,891
Capital Expenditures			66,443
Same Store
Segment Reporting Information [Line Items]
Rental income	589,008	634,393	1,174,563	1,288,732
Operating expenses	201,207	193,920	410,940	395,952
Operating income	387,801	440,473	763,623	892,780
Total Assets	18,571,806		18,571,806
Capital Expenditures			65,943
Non-same store/other
Segment Reporting Information [Line Items]
Rental income	9,051	19,139	21,098	47,105
Operating expenses	3,940	5,570	14,731	17,086
Operating income	5,111	13,569	6,367	30,019
Total Assets	1,892,540		1,892,540
Capital Expenditures			500
Same Store, Non-same Store and Other
Segment Reporting Information [Line Items]
Rental income	598,059	653,532	1,195,661	1,335,837
Operating expenses	205,147	199,490	425,671	413,038
Operating income	392,912	454,042	769,990	922,799
Los Angeles | Same Store
Segment Reporting Information [Line Items]
Rental income	113,639	118,686	226,592	241,570
Operating expenses	36,769	35,841	74,889	73,626
Operating income	76,870	82,845	151,703	167,944
Total Assets	3,052,015		3,052,015
Capital Expenditures			8,232
Orange County | Same Store
Segment Reporting Information [Line Items]
Rental income	26,669	26,318	52,510	53,013
Operating expenses	6,122	5,910	12,458	12,083
Operating income	20,547	20,408	40,052	40,930
Total Assets	380,069		380,069
Capital Expenditures			2,372
San Diego | Same Store
Segment Reporting Information [Line Items]
Rental income	19,188	18,587	37,928	37,365
Operating expenses	4,545	4,447	9,185	9,033
Operating income	14,643	14,140	28,743	28,332
Total Assets	237,670		237,670
Capital Expenditures			1,427
Subtotal - Southern California | Same Store
Segment Reporting Information [Line Items]
Rental income	159,496	163,591	317,030	331,948
Operating expenses	47,436	46,198	96,532	94,742
Operating income	112,060	117,393	220,498	237,206
Total Assets	3,669,754		3,669,754
Capital Expenditures			12,031
San Francisco | Same Store
Segment Reporting Information [Line Items]
Rental income	104,285	121,106	209,617	246,209
Operating expenses	31,759	30,593	65,034	62,389
Operating income	72,526	90,513	144,583	183,820
Total Assets	3,442,539		3,442,539
Capital Expenditures			10,443
Washington DC | Same Store
Segment Reporting Information [Line Items]
Rental income	99,030	103,241	198,147	207,958
Operating expenses	31,651	30,717	64,973	62,819
Operating income	67,379	72,524	133,174	145,139
Total Assets	3,291,944		3,291,944
Capital Expenditures			13,108
New York | Same Store
Segment Reporting Information [Line Items]
Rental income	98,271	110,230	196,304	226,532
Operating expenses	49,834	47,908	102,288	98,230
Operating income	48,437	62,322	94,016	128,302
Total Assets	3,951,560		3,951,560
Capital Expenditures			13,956
Boston | Same Store
Segment Reporting Information [Line Items]
Rental income	57,777	60,711	113,714	123,673
Operating expenses	18,512	17,087	37,719	35,275
Operating income	39,265	43,624	75,995	88,398
Total Assets	1,726,284		1,726,284
Capital Expenditures			9,067
Seattle | Same Store
Segment Reporting Information [Line Items]
Rental income	60,574	66,096	120,831	133,338
Operating expenses	19,372	18,778	38,720	37,070
Operating income	41,202	47,318	82,111	96,268
Total Assets	1,987,663		1,987,663
Capital Expenditures			6,723
Denver | Same Store
Segment Reporting Information [Line Items]
Rental income	9,575	9,418	18,920	19,074
Operating expenses	2,643	2,639	5,674	5,427
Operating income	6,932	6,779	13,246	13,647
Total Assets	502,062		502,062
Capital Expenditures			615
Non-same store | Non-same store/other
Segment Reporting Information [Line Items]
Rental income	4,589	2,190	10,499	7,374
Operating expenses	1,755	298	3,506	1,611
Operating income	2,834	1,892	6,993	5,763
Total Assets	663,201		663,201
Capital Expenditures			288
Other | Non-same store/other
Segment Reporting Information [Line Items]
Rental income	4,462	16,949	10,599	39,731
Operating expenses	2,185	5,272	11,225	15,475
Operating income	2,277	$ 11,677	(626)	$ 24,256
Total Assets	$ 1,229,339		1,229,339
Capital Expenditures			$ 212

Reportable Segments - NOI for_2

Reportable Segments - NOI for Each Segment from Our Rental Real Estate Specific to Continuing Operations (Parenthetical) (Details) - Property	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]
Units in same store properties	76,556	76,556	76,335	76,335

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	Jul. 01, 2021USD ($)PropertyApartmentUnit	Jun. 30, 2021USD ($)
Subsequent Event [Line Items]
Payments to acquire properties		$ 281,426
Subsequent Events [Member]
Subsequent Event [Line Items]
Number of properties acquired | Property	4
Number of property units acquired | ApartmentUnit	1,081
Payments to acquire properties	$ 365,500
Number of properties sold | Property	2
Number of apartment | ApartmentUnit	395
Proceeds from sale of properties	$ 215,300
Land Parcels [Member] | Subsequent Events [Member]
Subsequent Event [Line Items]
Number of unconsolidated land parcel acquired | Property	1
Payments to acquire unconsolidated land parcel	$ 3,300