Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Operating activities
Net loss	$ (9,595,000)	$ (4,405,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	37,827,000	592,000
Noncash amortization of deferred financing costs	186,000
Noncash share-based compensation	606,000
Gain on remeasurement of equity method investment	(10,945,000)
Remeasurement of Series E units	438,000
Gain on disposition of discontinued operations	(904,000)
Other changes in operating assets and liabilities:
Rent and other receivables	5,244,000
Resident security deposits	(21,282,000)
Prepaid expenses and other assets	(2,793,000)
Deferred leasing costs	(6,348,000)
Accounts payable and accrued expenses	32,139,000
Amounts payable to affiliates	(20,251,000)
Net cash provided by (used in) operating activities	4,322,000	(3,813,000)
Investing activities
Cash paid for single-family properties	(1,712,119,000)
Escrow deposits for purchase of single-family properties	(11,834,000)
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	(321,559,000)
Net cash used in investing activities	(2,007,096,000)
Financing activities
Implied contribution by Sponsor for historical operations	517,000	3,813,000
Net proceeds from issuance of Class A common shares	1,548,280,000
Proceeds from credit facility	1,044,000,000
Payments on credit facility	(806,000,000)
Proceeds from bridge loan	115,000,000
Payments on bridge loan	(115,000,000)
Extinguishment of RJ1 note payable	(7,600,000)
Contributions from noncontrolling interests	500,000
Distributions to noncontrolling interests	(6,497,000)
Deferred financing costs	(9,559,000)
Net cash provided by financing activities	1,763,641,000	3,813,000
Net decrease in cash and cash equivalents	(239,133,000)
Cash and cash equivalents, beginning of period	397,198,000
Cash and cash equivalents, end of period	158,065,000
Supplemental cash flow information
Cash payments for interest	4,011,000
Supplemental schedule of noncash investing and financing activities
Receivables related to property acquisitions	1,639,000
Accounts payable and accrued expenses related to property acquisitions	28,237,000
Accounts payable and accrued expenses related to deferred financing costs	2,533,000
Amounts payable to affiliates related to property acquisitions	(1,683,000)
Accrued distribution to noncontrolling interests	4,698,000
Contribution of properties (see Note 9)
Single-family properties, including related assets and liabilities	32,229,000	264,867,000
Additional paid-in capital	(384,255,000)	(264,867,000)
Due from affiliates	(2,508,000)
Issuance of units to noncontrolling interest	500,000
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)
Issuance of units to noncontrolling interest	(500,000)
Contingently convertible Series E units liability	(64,881,000)
Noncontrolling interest in consolidated subsidiaries	(39,321,000)
Management Internalization [Member]
Investing activities
Settlement of net monetary assets related to Management Internalization	(6,958,000)
Class A Units [Member]
Contribution of properties (see Note 9)
Issuance of units to noncontrolling interest	221,934,000
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	(221,934,000)
Series C Convertible Units [Member]
Contribution of properties (see Note 9)
Issuance of units to noncontrolling interest	391,701,000
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	(391,701,000)
Class B Common Shares [Member]
Contribution of properties (see Note 9)
Issuance of Class B common shares	7,993,000
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 units to noncontrolling interest	65,188,000
Acquisitions (see Note 10)
Issuance of units to noncontrolling interest	$ (65,188,000)