Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating activities
Net loss	$ (5,734,000)	$ (1,730,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	13,784,000	102,000
Noncash amortization of deferred financing costs	186,000
Noncash share-based compensation	453,000
Gain on remeasurement of equity method investment	(10,945,000)
Gain on disposition of discontinued operations	(904,000)
Other changes in operating assets and liabilities:
Rent and other receivables	4,736,000
Resident security deposits	(13,572,000)
Prepaid expenses and other assets	(475,000)
Deferred leasing costs	(3,197,000)
Accounts payable and accrued expenses	23,056,000
Amounts payable to affiliates	(5,349,000)
Net cash provided by (used in) operating activities	2,039,000	(1,628,000)
Investing activities
Cash paid for single-family properties	(1,293,745,000)
Escrow deposits for purchase of single-family properties	(18,227,000)
Cash acquired in non-cash business combinations	33,099,000
Net proceeds received from sale of discontinued operations	8,844,000
Distributions from unconsolidated joint venture	3,431,000
Improvements to single-family properties	(236,849,000)
Net cash used in investing activities	(1,503,447,000)
Financing activities
Implied contribution by Sponsor for historical operations	517,000	1,628,000
Net proceeds from issuance of Class A common shares	703,497,000
Proceeds from credit facility	670,000,000
Proceeds from bridge loan	115,000,000
Payments on bridge loan	(115,000,000)
Extinguishment of RJ1 note payable	(7,600,000)
Distributions to noncontrolling interests	(5,858,000)
Deferred financing costs	(4,940,000)
Net cash provided by financing activities	1,355,616,000	1,628,000
Net decrease in cash and cash equivalents	(145,792,000)
Cash and cash equivalents, beginning of period	397,198,000
Cash and cash equivalents, end of period	251,406,000
Supplemental cash flow information
Cash payments for interest	448,000
Supplemental schedule of noncash investing and financing activities
Receivables related to property acquisitions	1,261,000
Accounts payable and accrued expenses related to property acquisitions	20,201,000
Accounts payable and accrued expenses related to deferred financing costs	3,333,000
Amounts payable to affiliates related to property acquisitions	2,278,000
Contribution of properties (see Note 9)
Single-family properties, including related assets and liabilities	30,510,000	122,481,000
Additional paid-in capital	(384,221,000)	(122,481,000)
Due from affiliates	(2,508,000)
Acquisitions (see Note 10)
Single-family properties	966,571,000
Cash and cash equivalents	33,099,000
Other net assets and liabilities	(36,760,000)
Deferred costs and other intangibles	133,195,000
Additional paid-in capital	(703,856,000)
Contingently convertible Series E units liability	(64,881,000)
Noncontrolling interest in consolidated subsidiaries	(39,321,000)
Series C Convertible Units [Member]
Contribution of properties (see Note 9)
Issuance of series C convertible units to noncontrolling interest	390,016,000
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	390,016,000
Class B Common Shares [Member]
Contribution of properties (see Note 9)
Issuance of Class B common shares	7,959,000
Class A Common Shares [Member]
Acquisitions (see Note 10)
Class A common shares	(436,000)
Series D Convertible Units [Member]
Contribution of properties (see Note 9)
Issuance of series C convertible units to noncontrolling interest	(65,188,000)
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	(65,188,000)
Class A Units [Member]
Contribution of properties (see Note 9)
Issuance of series C convertible units to noncontrolling interest	(221,934,000)
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	$ (221,934,000)