XML 86 R67.htm IDEA: XBRL DOCUMENT v3.25.0.1
Debt - Narrative (Details)
3 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
singleFamilyProperty
Sep. 30, 2024
USD ($)
home
extensionOption
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
home
Jun. 30, 2023
debtInstrumentExtensionOption
Jun. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Sep. 30, 2015
USD ($)
singleFamilyProperty
Mar. 31, 2015
USD ($)
singleFamilyProperty
Dec. 31, 2014
USD ($)
singleFamilyProperty
Sep. 30, 2014
USD ($)
singleFamilyProperty
Dec. 31, 2024
USD ($)
singleFamilyProperty
debtInstrumentExtensionOption
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jun. 30, 2021
USD ($)
Debt Instrument [Line Items]                                  
Percent of principal payment 0.083%                         0.083%      
Loss on early extinguishment of debt                           $ (6,323,000) $ 0 $ 0  
Certificates purchased                           952,191,000 24,470,000 22,583,000  
Asset-backed securitization certificates $ 0                         0 25,666,000    
Proceeds from unsecured senior notes, net of discount                           1,594,052,000 0 $ 876,813,000  
Offering costs $ 29,035,000                         $ 29,035,000 $ 22,530,000    
Extension period   6 months                              
2032 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Redeemable percentage of debt           100.00%                      
2034 unsecured senior notes I                                  
Debt Instrument [Line Items]                                  
Redeemable percentage of debt       100.00%                          
2052 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Redeemable percentage of debt           100.00%                      
2034 unsecured senior notes II                                  
Debt Instrument [Line Items]                                  
Redeemable percentage of debt     100.00%                            
2035 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Redeemable percentage of debt 100.00%                                
Secured Debt                                  
Debt Instrument [Line Items]                                  
Minimum coverage ratio                           1.20      
Secured Debt | AMH 2014-SFR2 securitization, net                                  
Debt Instrument [Line Items]                                  
Outstanding principal paid       $ 460,600,000                          
Loss on early extinguishment of debt       1,000,000                          
Interest rate 4.42%                         4.42%      
Secured Debt | AMH 2014-SFR3 securitization, net                                  
Debt Instrument [Line Items]                                  
Outstanding principal paid   $ 471,800,000                              
Loss on early extinguishment of debt   (500,000)                              
Interest rate 4.40%                         4.40%      
Senior Notes | 2028 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                 $ 500,000,000.0                
Interest rate 4.25%               4.25%         4.25%      
Proceeds from unsecured senior notes, net of discount                 $ 494,000,000.0                
Underwriting fees                 3,200,000                
Unamortized discount                 2,800,000                
Offering costs                 $ 1,900,000                
Redeemable percentage of debt                 100.00%                
Effective interest rate 4.08%               4.08%         4.08%      
Senior Notes | 2029 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount               $ 400,000,000.0                  
Interest rate 4.90%             4.90%           4.90%      
Proceeds from unsecured senior notes, net of discount               $ 395,300,000                  
Underwriting fees               2,600,000                  
Unamortized discount               2,100,000                  
Offering costs               $ 1,000,000.0                  
Redeemable percentage of debt               100.00%                  
Senior Notes | 2031 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount             $ 450,000,000.0                    
Interest rate 2.38%           2.375%             2.38%      
Redeemable percentage of debt             100.00%                    
Effective interest rate 2.46%           2.46%             2.46%      
Senior Notes | 2051 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount             $ 300,000,000.0                    
Interest rate 3.38%           3.375%             3.38%      
Redeemable percentage of debt             100.00%                    
Senior Notes | Senior Unsecured Notes                                  
Debt Instrument [Line Items]                                  
Proceeds from unsecured senior notes, net of discount           $ 870,300,000 $ 731,600,000                    
Underwriting fees           6,500,000 5,600,000                    
Unamortized discount           23,200,000 12,800,000                    
Offering costs           1,700,000 $ 1,400,000                    
Senior Notes | 2032 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount           $ 600,000,000.0                      
Interest rate 3.63%         3.625%               3.63%      
Senior Notes | 2034 unsecured senior notes I                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount       $ 600,000,000                          
Interest rate 5.50%     5.50%                   5.50%      
Proceeds from unsecured senior notes, net of discount       $ 595,500,000                          
Underwriting fees       3,900,000                          
Unamortized discount       600,000                          
Offering costs       $ 1,300,000                          
Senior Notes | 2052 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount           $ 300,000,000.0                      
Interest rate 4.30%         4.30%               4.30%      
Senior Notes | 2034 unsecured senior notes II                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount     $ 500,000,000.0                            
Interest rate 5.50%   5.50%                     5.50%      
Proceeds from unsecured senior notes, net of discount     $ 494,000,000                            
Underwriting fees     3,300,000                            
Unamortized discount     2,700,000                            
Offering costs     $ 1,100,000                            
Senior Notes | 2035 unsecured senior notes, net                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount $ 500,000,000                         $ 500,000,000      
Interest rate 5.25%                         5.25%      
Proceeds from unsecured senior notes, net of discount $ 494,200,000                                
Underwriting fees 3,200,000                         $ 3,200,000      
Unamortized discount 2,600,000                         2,600,000      
Offering costs $ 1,100,000                         $ 1,100,000      
Effective interest rate 5.08%                         5.08%      
Line of Credit | Credit facility                                  
Debt Instrument [Line Items]                                  
Loss on early extinguishment of debt   (4,800,000)                              
Interest rate 5.44%                         5.44%      
Credit facility maximum borrowing capacity $ 1,250,000,000 $ 1,250,000,000                       $ 1,250,000,000     $ 1,250,000,000
Number of debt instrument extension options   2     2                 2      
Extension period         6 months                 6 months      
Line of Credit | Credit facility | Variable Rate Component One                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate                           0.10%      
Line of Credit | Credit facility | Variable Rate Component Two                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate                           0.85%      
Line of Credit | Credit facility | Fed Funds Effective Rate Overnight Index Swap Rate                                  
Debt Instrument [Line Items]                                  
Debt instrument, basis spread on base rate         0.50%                        
Line of Credit | Credit facility | Fed Funds Effective Rate Overnight Index Swap Rate | Variable Rate Component Two                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   0.50%                              
Line of Credit | Credit facility | Secured Overnight Financing Rate (SOFR)                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate         0.10%                        
Debt instrument, basis spread on base rate         1.10%                        
Line of Credit | Credit facility | Secured Overnight Financing Rate (SOFR) | Variable Rate Component One                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   0.10%                              
Line of Credit | Credit facility | Secured Overnight Financing Rate (SOFR) | Variable Rate Component Two                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   1.10%                              
Line of Credit | Credit facility | Minimum                                  
Debt Instrument [Line Items]                                  
Facility fee percentage 0.125%       0.125%                        
Line of Credit | Credit facility | Minimum | Base Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate         0.00%                        
Line of Credit | Credit facility | Minimum | Base Rate | Variable Rate Component Two                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   0.00%                              
Line of Credit | Credit facility | Minimum | Secured Overnight Financing Rate (SOFR)                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate         0.725%                        
Line of Credit | Credit facility | Minimum | Secured Overnight Financing Rate (SOFR) | Variable Rate Component One                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   72.50%                              
Line of Credit | Credit facility | Maximum                                  
Debt Instrument [Line Items]                                  
Facility fee percentage 0.30%       0.30%                        
Line of Credit | Credit facility | Maximum | Base Rate                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate         0.45%                        
Line of Credit | Credit facility | Maximum | Base Rate | Variable Rate Component Two                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   40.00%                              
Line of Credit | Credit facility | Maximum | Secured Overnight Financing Rate (SOFR)                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate         1.45%                        
Line of Credit | Credit facility | Maximum | Secured Overnight Financing Rate (SOFR) | Variable Rate Component One                                  
Debt Instrument [Line Items]                                  
Basis spread on variable rate   1.40%                              
Single Family Homes                                  
Debt Instrument [Line Items]                                  
Number of Properties | singleFamilyProperty 61,336                         61,336      
Single Family Homes | Secured Debt | AMH 2014-SFR2 securitization, net                                  
Debt Instrument [Line Items]                                  
Number of collateralized homes released | home       4,516                          
Restricted cash released       $ 10,300,000                          
Proceeds from asset-backed securitization certificates in investment payoff       $ 25,700,000                          
Single Family Homes | Secured Debt | AMH 2014-SFR3 securitization, net                                  
Debt Instrument [Line Items]                                  
Number of collateralized homes released | home   4,541                              
Restricted cash released   $ 10,900,000                              
Single Family Homes | AMH 2014-SFR2 securitization, net | Secured Debt                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                         $ 513,300,000        
Debt instrument term                         10 years        
Weighted-average interest rate                         4.42%        
Number of Properties | singleFamilyProperty                         4,487        
Interest rate                         0.00%        
Certificates purchased                         $ 25,700,000        
Asset-backed securitization certificates                         25,700,000        
Proceeds from asset-backed securitizations                         487,700,000        
Asset-backed securitizations, issuance costs                         $ 12,900,000        
Single Family Homes | AMH 2014-SFR3 securitization, net | Secured Debt                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                       $ 528,400,000          
Debt instrument term                       10 years          
Weighted-average interest rate                       4.40%          
Number of Properties | singleFamilyProperty                       4,503          
Proceeds from asset-backed securitizations                       $ 528,400,000          
Asset-backed securitizations, issuance costs                       $ 12,900,000          
Single Family Homes | AMH 2015-SFR1 securitization, net | Secured Debt                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                     $ 552,800,000            
Debt instrument term                     30 years            
Weighted-average interest rate                     4.14%            
Number of Properties | singleFamilyProperty                     4,661            
Proceeds from asset-backed securitizations                     $ 552,800,000            
Asset-backed securitizations, issuance costs                     $ 13,300,000            
Single Family Homes | AMH 2015-SFR2 securitization, net | Secured Debt                                  
Debt Instrument [Line Items]                                  
Debt instrument, face amount                   $ 477,700,000              
Debt instrument term                   30 years              
Weighted-average interest rate                   4.36%              
Number of Properties | singleFamilyProperty                   4,125              
Proceeds from asset-backed securitizations                   $ 477,700,000              
Asset-backed securitizations, issuance costs                   $ 11,300,000