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Restricted Deposits (Tables)
12 Months Ended
Dec. 31, 2023
Deposits Restricted [Abstract]  
Restricted Deposits

The following table presents the Company’s restricted deposits as of December 31, 2023 and 2022 (amounts in thousands):

 

 

December 31, 2023

 

 

December 31, 2022

 

Mortgage escrow deposits:

 

 

 

 

 

 

Real estate taxes and insurance

 

$

307

 

 

$

 

Mortgage principal reserves/sinking funds

 

 

29,270

 

 

 

25,304

 

Mortgage escrow deposits

 

 

29,577

 

 

 

25,304

 

Restricted cash:

 

 

 

 

 

 

Earnest money on pending acquisitions

 

 

524

 

 

 

4,500

 

Restricted deposits on real estate investments

 

 

2,181

 

 

 

229

 

Resident security and utility deposits

 

 

40,149

 

 

 

38,432

 

Replacement reserves

 

 

15,571

 

 

 

12,549

 

Other

 

 

1,250

 

 

 

2,289

 

Restricted cash

 

 

59,675

 

 

 

57,999

 

Restricted deposits

 

$

89,252

 

 

$

83,303