Real Estate Assets, Net

9 Months Ended

Sep. 30, 2020

Real Estate [Abstract]

Real Estate Assets, Net

3. Real Estate Assets, Net

The following table presents the number of real estate assets held by the Company by status as of the dates indicated:

September 30, 2020	Held for Use	Held for Sale	Total Portfolio
Rental Properties:
Leased	14,286	—	14,286
Listed and ready for rent	83	—	83
Unit turn	95	—	95
Renovation	30	—	30
Total rental properties	14,494
Previous rentals identified for sale	61	43	104
Legacy REO	5	—	5
	14,560	43	14,603
December 31, 2019
Rental Properties:
Leased	13,711	—	13,711
Listed and ready for rent	371	—	371
Unit turn	369	—	369
Renovation	94	—	94
Total rental properties	14,545
Previous rentals identified for sale	94	87	181
Legacy REO	10	12	22
	14,649	99	14,748

For properties held for sale or identified for future sale, management has determined to divest these properties because they do not meet our residential rental property investment criteria.

Impairment of real estate

During the three months ended September 30, 2020 and 2019, we recognized $0.1 million and $0.5 million, respectively, of impairment on our real estate assets held for sale.

During the nine months ended September 30, 2020 and 2019, we recognized $1.0 million and $3.1 million, respectively, of impairment on our real estate assets held for sale.