Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income

The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended March 31, 2025 and 2024 (amounts in thousands):

	March 31, 2025							March 31, 2024
Income Type	Residential Leases		Non-Residential Leases			Total		Residential Leases			Non-Residential Leases			Total
Residential and non-residential rent	$	680,261	$	16,848		$	697,109	$	654,543		$	18,823		$	673,366
Utility recoveries (RUBS income) (1)		25,316		182			25,498		22,669			227			22,896
Parking rent		11,863		400			12,263		11,424			220			11,644
Other lease revenue, net (2)		991		(376	)		615		(1,908	)		(76	)		(1,984	)
Total lease revenue		718,431		17,054			735,485		686,728			19,194			705,922
Parking revenue		435		10,239			10,674		341			10,337			10,678
Other revenue		14,405		246			14,651		14,185			33			14,218
Total other rental income (3)		14,840		10,485			25,325		14,526			10,370			24,896
Rental income	$	733,271	$	27,539		$	760,810	$	701,254		$	29,564		$	730,818

Summary of Residential Accounts Receivable and Straight-Line Receivable Balances

The following table presents residential accounts receivable and straight-line receivable balances for the Company’s properties as of March 31, 2025 and December 31, 2024 (amounts in thousands):

Balance Sheet (Other assets):	March 31, 2025			December 31, 2024
Residential accounts receivable balances	$	14,368		$	15,152
Allowance for doubtful accounts		(9,487	)		(9,904	)
Net receivable balances	$	4,881		$	5,248
Straight-line receivable balances	$	11,541		$	10,234

Summary of Residential Bad Debt for Company's Properties

The following table presents residential bad debt for the Company’s properties for the quarters ended March 31, 2025 and 2024 (amounts in thousands):

	March 31,
Income Statement (Rental income):	2025			2024
Bad debt, net	$	7,697		$	9,215
% of residential rental income		1.0	%		1.3	%