10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2013

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File Number 001-36013

AMERICAN HOMES 4 RENT

(Exact name of registrant as specified in its charter)

Maryland	46-1229660
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

30601 Agoura Road, Suite 200

Agoura Hills, California 91301

(Address of principal executive offices) (Zip Code)

(805) 413-5300

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.    ¨  Yes    x  No*

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    x  Yes    ¨  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    ¨  Yes    x  No

At August 22, 2013, 184,856,219 Class A common shares of beneficial interest and 635,075 Class B common shares of beneficial interest were outstanding.

* The registrant became subject to the Securities Exchange Act of 1934 on July 31, 2013.

EXPLANATORY NOTE

American Homes 4 Rent is filing this Amendment No. 1 on Form 10-Q/A to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, (the “Original Filing”), for the sole purpose of furnishing the XBRL (eXtensible Business Reporting Language) Interactive Data File as Exhibit 101 with respect to the financial statements and related notes included in the Original Filing. No other changes have been made to the Original Filing.

Except as described above, this Quarterly Report on Form 10-Q/A speaks only as of the filing date of the Original Filing and does not amend, update or modify in any way the disclosures in the Original Filing and does not purport to reflect any information or events subsequent to the filing thereof.

Item 6. Exhibits

Exhibits required by Item 601 of Regulation S-K are filed or furnished herewith or incorporated herein by reference and are listed in the attached Exhibit Index which is incorporated herein by reference.

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SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMERICAN HOMES 4 RENT

 /s/ Peter J. Nelson

Peter J. Nelson

Chief Financial Officer

(Principal financial officer and duly authorized accounting officer)

Date: September 19, 2013

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Exhibit Index

Exhibit Number	Exhibit Document
2.1‡	Amended and Restated Contribution Agreement, dated December 28, 2012, by and among American Homes 4 Rent, American Homes 4 Rent, L.P., American Homes 4 Rent, Properties One LLC and American Homes 4 Rent, LLC (Filed as Exhibit 2.1 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
2.2‡	First Amendment to Amended and Restated Contribution Agreement, dated January 30, 2013, by and among American Homes 4 Rent, American Homes 4 Rent, L.P., American Homes 4 Rent Properties One, LLC and American Homes 4 Rent, LLC (Filed as Exhibit 2.2 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
2.3‡	Second Amendment to Amended and Restated Contribution Agreement, dated March 18, 2013, by and among American Homes 4 Rent, American Homes 4 Rent, L.P., American Homes 4 Rent Properties One, LLC and American Homes 4 Rent, LLC (Filed as Exhibit 2.3 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
2.4‡	Contribution Agreement, dated February 25, 2013, by and among American Homes 4 Rent, LLC, American Homes 4 Rent, American Homes 4 Rent, L.P. and AH4R Properties Holdings, LLC (Filed as Exhibit 2.4 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
2.5‡	Contribution Agreement, dated May 28, 2013, by and among American Homes 4 Rent, LLC, American Homes 4 Rent and American Homes 4 Rent, L.P. (Filed as Exhibit 2.5 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
2.6‡	Contribution Agreement, dated June 11, 2013, by and among American Homes 4 Rent, American Homes 4 Rent, LLC, Alaska Permanent Fund Corporation, American Homes 4 Rent, L.P., American Homes 4 Rent I, LLC and American Homes 4 Rent TRS, LLC (Filed as Exhibit 2.6 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
3.1	Articles of Amendment and Restatement of Declaration of Trust of American Homes 4 Rent (Filed as Exhibit 3.1 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
3.2	First Articles of Amendment to Articles of Amendment and Restatement of Declaration of Trust of American Homes 4 Rent (Filed as Exhibit 3.2 to Amendment No. 2 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
3.3	Amended and Restated Bylaws of American Homes 4 Rent (Filed as Exhibit 3.3 to Amendment No. 2 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.1	Agreement of Limited Partnership of American Homes 4 Rent, L.P. (Filed as Exhibit 10.1 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.2	First Amendment to Agreement of Limited Partnership of American Homes 4 Rent, L.P. (Filed as Exhibit 10.2 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.3	Amended and Restated Second Amendment to Agreement of Limited Partnership of American Homes 4 Rent, L.P. (Filed as Exhibit 10.3 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.4	Third Amendment to Agreement of Limited Partnership of American Homes 4 Rent, L.P. (Filed as Exhibit 10.4 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.5	Fourth Amendment to Agreement of Limited Partnership of American Homes 4 Rent, L.P. (Filed as Exhibit 10.5 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.6	Registration Rights Agreement, dated November 21, 2012, by and among American Homes 4 Rent, American Homes 4 Rent Advisor, LLC and FBR Capital Markets & Co. (Filed as Exhibit 10.6 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.7	Registration Rights Agreement, dated March 14, 2013, by and among American Homes 4 Rent, American Homes 4 Rent Advisor, LLC and FBR Capital Markets & Co. (Filed as Exhibit 10.7 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.8	Registration Rights Agreement, dated June 10, 2013, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.8 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)

Exhibit Number	Exhibit Document
10.9	Registration Rights Agreement, dated June 11, 2013, by and among American Homes 4 Rent and Alaska Permanent Fund Corporation (Filed as Exhibit 10.9 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.10	Investor Subscription Agreement, dated November 21, 2012, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.10 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.11	Amendment to Investor Subscription Agreement, dated April 16, 2013, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.12 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.12	Master Loan and Security Agreement, dated March 7, 2013, by and among American Homes 4 Rent Properties One, LLC, American Homes 4 Rent Properties Two, LLC, American Homes 4 Rent Properties Three, LLC, American Homes 4 Rent Properties Four, LLC, American Homes 4 Rent Properties Five, LLC, American Homes 4 Rent Properties Six, LLC and Wells Fargo Bank, National Association (Filed as Exhibit 10.12 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.13	Increased Commitment Supplement, Omnibus Joinder and Amendment Agreement, dated June 6, 2013, by and among American Homes 4 Rent Properties One, LLC, American Homes 4 Rent Properties Two, LLC, American Homes 4 Rent Properties Three, LLC, American Homes 4 Rent Properties Four, LLC, American Homes 4 Rent Properties Five, LLC, American Homes 4 Rent Properties Six, LLC, AH4R Properties, LLC, for itself and each of the entities listed in Annex I to the Increased Commitment Supplement, Omnibus Joinder and Amendment Agreement as Joining Borrowers, American Homes 4 Rent, L.P., American Homes 4 Rent, Wells Fargo Bank, National Association, Goldman Sachs Bank USA, J.P. Morgan Chase Bank N.A., and Bank of America, National Association (Filed as Exhibit 10.13 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.14	Second Omnibus Joinder Amendment Agreement, dated June 21, 2013, by and among American Homes 4 Rent Properties One, LLC, American Homes 4 Rent Properties Two, LLC, American Homes 4 Rent Properties Three, LLC, American Homes 4 Rent Properties Four, LLC, American Homes 4 Rent Properties Five, LLC, American Homes 4 Rent Properties Six, LLC, American Homes 4 Rent, L.P., AH4R Properties, LLC, for itself and the entities listed in Annex I to the Second Omnibus Joinder Amendment Agreement as Existing Borrowers, American Homes 4 Rent I, LLC, for itself and the entities listed in Annex I to the Second Omnibus Joinder Amendment Agreement as Joining Borrowers, Wells Fargo Bank, National Association, J.P. Morgan Chase Bank, N.A., Bank of America, National Association and Goldman Sachs Bank USA (Filed as Exhibit 10.14 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.15	Employee Administration Agreement, dated June 10, 2013, by and among American Homes 4 Rent and Malibu Management Inc. (Filed as Exhibit 10.15 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.16	Amended and Restated Agreement on Investment Opportunities, dated June 10, 2013, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.16 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.17†	Amended and Restated American Homes 4 Rent 2012 Equity Incentive Plan (Filed as Exhibit 10.110.17 to Amendment No. 2 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.18†	Form of Nonqualified Share Option Agreement (Filed as Exhibit 10.18 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.19†	Form of Indemnification Agreement with Trustees and Executive Officers (Filed as Exhibit 10.19 to Amendment No. 1 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.20	Share Purchase Agreement, dated July 18, 2013, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.20 to Amendment No. 2 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
10.21	Amendment to Registration Rights Agreement, dated July 18, 2013, by and among American Homes 4 Rent and American Homes 4 Rent, LLC (Filed as Exhibit 10.21 to Amendment No. 2 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)

Exhibit Number	Exhibit Document
10.22	Share Purchase Agreement, dated July 22, 2013, by and between American Homes 4 Rent and the Alaska Permanent Fund Corporation (Filed as Exhibit 10.22 to Amendment No. 3 to the Company’s Registration Statement on Form S-11, Registration Number 333-189103 and incorporated herein by reference.)
31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934. Filed as Exhibit 31.1 to the Original Filing.
31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934. Filed as Exhibit 31.2 to the Original Filing.
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350. Furnished as Exhibit 32.1 to the Original Filing.
101.INS	XBRL Instance Document(1)
101.SCH	XBRL Taxonomy Extension Schema Document(1)
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document(1)
101.DEF	XBRL Taxomony Extension Definition Linkbase Document(1)
101.LAB	XBRL Taxonomy Extension Label Linkbase Document(1)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document(1)

† Indicates management contract or compensatory plan

‡ The schedules and exhibits to this agreement have been omitted from this filing pursuant to Item 601(b)(2) of Regulation S-K. The Company will furnish supplementally a copy of any such omitted schedules or exhibits to the SEC upon request

(1) Users of this data are advised that, pursuant to Rule 406T of Regulation S-T, this Interactive Data File is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise is not subject to liability under those sections.

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Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Acquisitions and Dispositions

Note 10. Acquisitions and Dispositions

Management Internalization

On June 10, 2013, the Company completed the Management Internalization for the purpose of internalizing its corporate and property operations management and acquired 100% of the membership interests in the Advisor and the Property Manager from the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in our Operating Partnership. Under the terms of the respective contribution agreement, all administrative, financial, property management, marketing and leasing personnel, including executive management, became fully dedicated to the Company. In connection with the Management Internalization, the Company also:

• Modified the preexisting Agreement on Investment Opportunities between the Company and the Sponsor to: (i) preclude the Sponsor from providing advisory or property management services to third parties investing in any type of business relating to investment in, ownership of or rental of single-family homes; (ii) increase from 20% to 100% the Company’s right to receive promoted interests in any future outside investment vehicles, as defined; (iii) cease the Sponsor’s rendering of acquisition and renovation services to the Company and eliminate the related 5% fee paid to the Sponsor on December 10, 2014; (iv) provide the Company with the right to offer employment on September 10, 2014, that would commence on December 10, 2014, to all of the Sponsor’s acquisition and renovation personnel necessary for our operations; and (v) require the Sponsor to pay us a monthly fee of $100,000 through December 10, 2014 for maintenance and use of certain intellectual property transferred to us in the Management Internalization (see Note 8).

• Entered into a registration rights agreement with the Sponsor providing for registration rights exercisable after December 10, 2015 (see Note 7).

• Cancelled insurance policies previously provided by a captive insurance company affiliated with the Sponsor (see Note 8).

The fair value of the Series D units and Series E units has been estimated to be $65,188,000 and $64,881,000, respectively, as of the date of issuance using a Monte Carlo Simulation model. A Monte Carlo simulation was incorporated given that the values of the securities were path dependent, meaning that their value depends on the average of a sequence of the prices of the underlying asset over some predetermined period of time. Inputs to the model include a risk-free rate corresponding to the assumed timing of the conversion date and a volatility input based on the historical volatilities of selected peer group companies. The starting point for the simulation was the most recent trading price in the Company’s Class A common shares, into which the Series D and Series E units are ultimately convertible. The timing of such conversion was based on the provisions of the contribution agreement and the Company’s best estimate of the events that trigger such conversions (see Note 7).

The following table summarizes the fair values of the assets acquired as part of the Management Internalization as of the date of acquisition (in thousands):

Buildings and improvements	$	4,214
Identified intangible assets:
Trademark		3,100
Database		2,100
Goodwill		120,655
Fair value of acquired assets	$	130,069

The above intangible assets acquired in connection with the Management Internalization have been valued in accordance with ASC 805, Business Combinations, which requires that an intangible asset is recognized apart from goodwill if it arises from contractual or other legal rights or if it is separable. An asset is considered separable if it (a) is capable of being separated from the acquired entity and sold, transferred, licensed, rented or exchanged, or (b) can be conveyed in combination with a related asset or liability. Pursuant to ASC 820, Fair Value Measurements and Disclosures, the inputs used in the valuation of these intangible assets consisted primarily of Level 2 and Level 3 inputs. The goodwill of $120,655,000 arising from the acquisition consists largely of the synergies, economies of scale and cost savings expected from the Management Internalization.

Under the terms of the Management Internalization contribution agreement, net monetary assets, as defined, of the Advisor and Property Manager as of June 10, 2013 are to be settled in cash between the Company and the Sponsor within 45 days of the date of the transaction. Accordingly, estimated net monetary assets of $6,979,000, including estimated cash and cash equivalents of $8,982,000, were recorded in connection with the Management Internalization, with an offsetting liability reflected in amounts payable to affiliates.

Since the date of the Management Internalization, the Company has consolidated the Advisor and the Property Manager and the results of these operations are reflected in the accompanying condensed consolidated financial statements.

Alaska Joint Venture Acquisition

On June 11, 2013, the Company acquired 100% of the membership interests in American Homes 4 Rent I, LLC (the “Alaska Joint Venture”) from APFC and the Sponsor for a purchase price of $904,487,000 (the “Alaska Joint Venture Acquisition”). The purchase price consisted of the issuance of 43,609,394 Class A common shares in the Company to APFC and 12,395,965 Class A units in the Operating Partnership to the Sponsor (see Note 7). As part of the Alaska Joint Venture Acquisition, the Company acquired a portfolio of 4,778 single-family properties, as well as the right to receive all net cash flows produced by the Alaska Joint Venture subsequent to April 30, 2013. Net cash flows produced by the Alaska Joint Venture subsequent to April 30, 2013 and prior to the Company’s ownership on June 11, 2013 were approximately $1,896,000, which have been included in the assets acquired as part of the Alaska Joint Venture Acquisition. The Company completed the Alaska Joint Venture Acquisition for the purpose of acquiring a portfolio of 4,778 single-family properties, which was 75% leased as of the date of acquisition.

The following table summarizes the fair values of the assets acquired as part of the Alaska Joint Venture Acquisition as of the date of acquisition (in thousands):

Land	$	156,648
Building and improvements		740,396
Receivable for net cash flows prior to acquisition date		1,896
In-place lease values		5,547
Fair value of acquired assets	$	904,487

Pursuant to the Alaska Joint Venture Acquisition contribution agreement, net monetary assets, as defined, of the Alaska Joint Venture as of April 30, 2013 are to be used to fund all remaining initial repair and renovation costs of the 4,778 single-family properties, with any potential shortfalls to be paid for by the Sponsor. At December 31, 2013, any remaining net monetary assets will be distributed to APFC and the Sponsor. Accordingly, estimated net monetary assets of $12,995,000, including estimated cash and cash equivalents of $22,989,000, were recorded in connection with the Alaska Joint Venture Acquisition, with an offsetting liability reflected in amounts payable to affiliates.

Since the date of the Alaska Joint Venture Acquisition, the Company has consolidated the Alaska Joint Venture and the results of its operations are reflected in the accompanying condensed consolidated financial statements.

RJ Joint Ventures Acquisition

On August 10, 2012, the Sponsor formed RJ LLC, as the sole owner and managing member, for the purpose of sponsoring and managing investment vehicle joint ventures with accredited investors identified by Raymond James. On September 20, 2012, RJ LLC formed its first investment vehicle, RJ1, with an initial capital contribution of 177 single-family properties from the Sponsor, prior to selling a 67% Class A ownership interest in RJ1 to third party accredited investors (the “RJ1 Investors”). After the sale to the RJ1 Investors, RJ LLC’s remaining interest in RJ1 consisted of a 33% managing member Class B equity interest and 100% of a promoted interest that is earned after the RJ1 Investors achieve certain preferred returns.

On December 31, 2012, the Company acquired a newly created Class B ownership interest in RJ LLC from the Sponsor in exchange for 653,492 Preferred Units (see Note 7), which entitled the Company to all operating cash distributions and 20% of promoted interest distributions made from RJ1 to RJ LLC (the “RJ1 2012 Transaction”). As the RJ1 2012 Transaction was completed prior to the Management Internalization, it was deemed to be a transaction between “entities under common control” under the provisions of ASC 805, Business Combinations, and accordingly, the Company’s Class B interest in RJ LLC was recorded at the Sponsor’s carryover basis of zero. As a result, the Preferred Units issued to the Sponsor were also recorded with no initial basis.

On March 15, 2013, RJ LLC formed its second investment vehicle, RJ2, with an initial capital contribution of 214 single-family properties from the Sponsor, prior to selling a 67% Class A ownership interest in RJ2 to third party accredited investors (the “RJ2 Investors”). After the sale to the RJ2 Investors, RJ LLC’s remaining interest in RJ2 consisted of a 33% managing member Class B equity interest and 100% of a promoted interest that is earned after the RJ2 Investors achieve certain preferred returns.

On June 14, 2013, the Sponsor contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by the Sponsor were converted into 653,492 Class A units (the “Preferred Unit Conversion”) and the Company issued 705,167 additional Class A units to the Sponsor (collectively, the “2013 RJ Transaction”). The fair value of the 705,167 Class A units issued has been estimated to be $11,283,000, which has been determined using the most recent trading price in the Company’s Class A common shares, into which the Class A units are convertible into on a one-for-one basis. Additionally, our Operating Partnership made a $7.6 million loan to RJ1, the proceeds of which were used to extinguish the balance of an outstanding loan as of the date of the 2013 RJ Transaction. The Company completed the 2013 RJ Transaction for the purpose of gaining 100% ownership of RJ LLC and therefore control over RJ1 and RJ2. As of the date of the 2013 RJ Transaction, the RJ1 and RJ2 portfolios collectively consisted of 377 single-family properties.

The following table summarizes the fair values of the net assets of RJ LLC, RJ1 and RJ2 that the Company gained control over on June 14, 2013 and the associated 67% noncontrolling interest held by the RJ1 Investors and RJ2 Investors in RJ1 and RJ2, respectively (in thousands):

Land	$	10,340
Building and improvements		54,123
In-place lease values		539
Cash and cash equivalents		1,128
Other current assets and liabilities, net		(311	)
Note payable		(7,600	)
Noncontrolling interest		(39,321	)
Fair value of acquired net assets	$	18,898

As the Company gained control over RJ LLC after the date of the Management Internalization on June 10, 2013, the carrying value of the Company’s Class B interest in RJ LLC has been remeasured to fair value in accordance with ASC 805, Business Combinations. The following table summarizes the carrying value and fair value of the Company’s Class B interest in RJ LLC as of June 14, 2013 and the resulting gain on remeasurement of approximately $10.9 million, which has been recognized in the accompanying condensed consolidated statements of operations (in thousands):

Fair value of existing Class B interest	$	7,615
Carrying value of Class B interest		(3,330	)
Gain on remeasurement of equity method investment	$	10,945

The fair value of the Company’s existing Class B interest has been determined using an income approach valuation technique based on the assets of RJ1 underlying the Company’s Class B interest in RJ LLC.

Because the Preferred Unit Conversion was not subject to an inducement offer and represented an in-substance redemption of the 653,492 Preferred Units, the $10,456,000 fair value of the 653,492 Class A units in excess of the zero carrying value of the 653,492 Preferred Units has been reflected as a reduction to net income attributable to common shareholders in the accompanying condensed consolidated statements of operations in accordance with ASC 260-10-S99-2, The Effect on the Calculation of Earnings per Shares for the Redemption or Induced Conversion of Preferred Stock. The fair value of the Class A units issued in connection with the 2013 RJ Transaction has been determined using the most recent trading price in the Company’s Class A common shares, into which the Class A units are convertible into on a one-for-one basis.

Since the date of the 2013 RJ Transaction, the Company has consolidated RJ LLC, RJ1 and RJ2 and the related results of operations are reflected in the accompanying condensed consolidated financial statements.

The following table presents the total revenues and net income attributable to the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction that is included in our condensed consolidated statement of operations from the respective transaction dates through June 30, 2013 (in thousands):

	Management Internalization			Alaska Joint Venture  Acquisition			2013 RJ Transaction
	Period from June 10, 2013 to June 30, 2013			Period from June 11, 2013 to June 30, 2013			Period from June 14, 2013  to June 30, 2013
Total revenues	$	239		$	2,871		$	278
Net (loss) / income	$	(2,112	)	$	(280	)	$	4

The following table presents the Company’s supplemental consolidated pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Pro forma total revenues (1)	$	28,631		$	1,853		$	42,995		$	2,493
Pro forma net loss (1)	$	(20,877	)	$	(4,154	)	$	(26,293	)	$	(5,195	)

(1) This unaudited pro forma supplemental information does not purport to be indicative of what the Company’s operating results would have been had the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2012.

Due to the inherent complexity of the accompanying condensed consolidated financial statements as a result of the transactions completed between entities under common control (see Note 9), management believes that presentation of pro forma net loss attributable to common shareholders and on a per share basis is not meaningful and has therefore only presented pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 above.

Sale of southern California properties

On June 27, 2013, the Company sold 38 single-family properties located in southern California for a gross sales price of $8,900,000, before commissions and closing costs, resulting in a gain on sale of $904,000, which has been reflected as gain on disposition of assets in the accompanying condensed consolidated statements of operations.

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Acquisitions and Dispositions - Additional Information 1 (Detail) (USD $)	1 Months Ended		3 Months Ended	6 Months Ended		1 Months Ended		1 Months Ended				1 Months Ended	6 Months Ended	1 Months Ended
	Jun. 27, 2013 Property	Dec. 31, 2012 Property	Jun. 30, 2013 Property	Jun. 30, 2013 Property	Jun. 14, 2013	Jun. 14, 2013 Class A Common Shares [Member]	Jun. 30, 2013 Class A Units [Member]	Jun. 14, 2013 RJ1 [Member]	Sep. 20, 2012 RJ1 [Member] Property	Sep. 20, 2012 RJ1 [Member] Class A Common Shares [Member]	Sep. 20, 2012 RJ1 [Member] Class B Common Shares [Member]	Jun. 14, 2013 RJ LLC [Member] Property	Jun. 30, 2013 RJ LLC [Member]	Jun. 14, 2013 RJ LLC [Member] Class A Common Shares [Member]	Dec. 31, 2012 RJ LLC [Member] Class B Common Shares [Member]	Jun. 30, 2013 RJ LLC [Member] Class A Units [Member]	Mar. 15, 2013 RJ2 [Member] Property	Mar. 15, 2013 RJ2 [Member] Class A Common Shares [Member]	Mar. 15, 2013 RJ2 [Member] Class B Common Shares [Member]
Acquisitions And Dispositions [Line Items]
Initial capital contribution of single-family properties		3,644	18,326	18,326					177			377					214
Acquisition percentage									100.00%	67.00%	33.00%	100.00%					100.00%	67.00%	33.00%
Preferred Units issued					653,492										653,492
Percentage of promoted interest distributions made from RJ1 to RJ LLC		20.00%
Preferred Units outstanding												653,492
Preferred Units converted into Class A units						653,492								653,492
Additional unit issued						705,167								705,167
Fair value of Preferred Units redeemed														$ 11,283,000		$ 10,456,000
Basis for conversion														One-for-one
Operating Partnership loan								7,600,000
Gain on remeasurement of equity method investment												10,945,000
Redemption of Preferred Units													653,492
Carrying value of Preferred Units redeemed							0
Number of properties sold	38
Gross sales price of properties sold	8,900,000
Gain on disposition of assets	$ 904,000		$ 904,000	$ 904,000

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Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Revenues:
Rents from single-family properties	$ 17,585,000	$ 184,000	$ 24,144,000	$ 280,000
Other	535,000		535,000
Total revenues	18,120,000	184,000	24,679,000	280,000
Expenses:
Leased single-family properties	6,859,000	90,000	9,362,000	133,000
Vacant single-family properties	4,391,000	96,000	6,120,000	118,000
General and administrative expense	811,000	1,487,000	2,436,000	1,657,000
Advisory fees	3,610,000		6,352,000
Interest expense			370,000
Noncash share-based compensation expense	279,000		453,000
Acquisition fees and costs expensed	2,099,000		3,489,000
Depreciation and amortization	10,879,000	77,000	13,784,000	102,000
Total expenses	28,928,000	1,750,000	42,366,000	2,010,000
Gain on remeasurement of equity method investment	10,945,000		10,945,000
Income / (loss) from continuing operations	137,000	(1,566,000)	(6,742,000)	(1,730,000)
Discontinued operations
Gain on disposition of assets	904,000		904,000
Income from discontinued operations	82,000		104,000
Total income from discontinued operations	986,000		1,008,000
Net income / (loss)	1,123,000	(1,566,000)	(5,734,000)	(1,730,000)
Noncontrolling interest	4,664,000		5,559,000
Conversion of preferred units	10,456,000		10,456,000
Net loss attributable to common shareholders	$ (13,997,000)	$ (1,566,000)	$ (21,749,000)	$ (1,730,000)
Weighted average shares outstanding-basic and diluted	95,971,706	3,301,667	72,234,717	3,301,667
Net loss per share-basic and diluted:
Loss from continuing operations	$ (0.16)	$ (0.47)	$ (0.31)	$ (0.52)
Discontinued operations	$ 0.01		$ 0.01
Net loss attributable to common shareholders per share-basic and diluted	$ (0.15)	$ (0.47)	$ (0.30)	$ (0.52)

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Single-family properties

6 Months Ended

Jun. 30, 2013

Real Estate [Abstract]

Single-family properties

Note 3. Single-family properties

Single-family properties, net, consists of the following as of June 30, 2013 and December 31, 2012 (dollars in thousands):

	June 30, 2013
	Number of properties		Net book value
Leased single-family properties		10,245	$	1,713,955
Single-family properties being renovated		6,074		960,156
Vacant single-family properties available for lease		2,007		365,393
Total		18,326	$	3,039,504

	December 31, 2012
	Number of properties		Net book value
Leased single-family properties		1,164	$	158,068
Single-family properties being renovated		1,857		261,136
Vacant single-family properties available for lease		623		86,509
Total		3,644	$	505,713

Single-family properties at June 30, 2013 and December 31, 2012 include $208,156,000 and $131,819,000, respectively, related to properties for which the recorded deed of trust has not been received. For these properties, the trustee or seller has warranted that all legal rights of ownership have been transferred to us on the date of the sale, but there is a delay for the deeds to be recorded. Depreciation expense related to single-family properties was approximately $8,972,000 and $77,000 for the three months ended June 30, 2013 and 2012, respectively, and $11,877,000 and $102,000 for the six months ended June 30, 2013 and 2012, respectively. Included in single-family properties at June 30, 2013 and December 31, 2012 are certain single-family properties contributed by the Sponsor (see Note 9).

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Significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Amortization of Intangible Assets Estimated Economic Lives

The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:

	Amortizable Life
Trademark		4.7 years
Database		7 years

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Acquisitions and Dispositions - Schedule of Company's Supplemental Consolidated Pro Forma Total Revenues and Net Income (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Business Combinations [Abstract]
Pro forma total revenues	$ 28,631	$ 1,853	$ 42,995	$ 2,493
Pro forma net loss	$ (20,877)	$ (4,154)	$ (26,293)	$ (5,195)

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Net loss per share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Net loss per share

Note 11. Net loss per share

The following table reflects the computation of net loss per share on a basic and diluted basis for the three and six months ended June 30, 2013 and 2012 (in thousands, except share information):

	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Income / loss (numerator):
Net income / (loss) from continuing operations	$	137		$	(1,566	)	$	(6,742	)	$	(1,730	)
Income from discontinued operations		986			—			1,008			—
Noncontrolling interest		4,664			—			5,559			—
Conversion of preferred units		10,456			—			10,456			—
Net loss attributable to common shareholders	$	(13,997	)	$	(1,566	)	$	(21,749	)	$	(1,730	)
Weighted-average shares (denominator):
Class A common shares issued in formation transactions		3,301,000			3,301,000			3,301,000			3,301,000
Class B common shares issued in formation transactions		667			667			667			667
Class A common shares issued in 2012 Offering		35,362,998			—			35,362,998			—
Class A common shares issued in 2013 Offering		46,718,750			—			28,134,496			—
Class B common shares issued in connection with 2,770 Property Contribution		634,408			—			431,117			—
Class A common shares issued to members of board of trustees		6,286			—			3,160			—
Class A common shares issued in settlement of subscription agreement		363,115			—			182,561			—
Class A common shares issued in connection with Alaska Joint Venture Acquisition		9,584,482			—			4,818,718			—
Total weighted-average shares		95,971,706			3,301,667			72,234,717			3,301,667
Net loss per share- basic and diluted:
Loss from continuing operations	$	(0.16	)	$	(0.47	)	$	(0.31	)	$	(0.52	)
Income from discontinued operations		0.01			—			0.01			—
Net loss per share- basic and diluted		(0.15	)		(0.47	)		(0.30	)		(0.52	)

The Company accounted for the issuance of 3,301,000 Class A common shares and 667 Class B common shares associated with the initial contribution by the Sponsor in December 2012, to be a formation transaction and has reflected these shares outstanding as of the earliest period presented.

Total weighted average shares for the three and six months ended June 30, 2013 shown above excludes an aggregate of 35,775,468 and 54,293,266, respectively, of shares or units in our Operating Partnership (see Note 7), the subscription agreement (see Note 7), and stock options (see Note 7) because they were antidilutive and not related to the formation of the Company.

Due to the inherent complexity of the accompanying condensed consolidated financial statements as a result of the transactions completed between entities under common control (see Note 9), management does not consider the historical net loss per share computations to be meaningful.

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Related Party Transactions - Additional Information 1 (Detail) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended	6 Months Ended	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013 Affiliates of the Sponsor [Member]	Jun. 30, 2013 Affiliates of the Sponsor [Member]	Jun. 10, 2013 MMI [Member]	Jun. 30, 2013 Sponsor [Member]	Jun. 30, 2012 Sponsor [Member]	Jun. 30, 2013 Sponsor [Member]	Jun. 30, 2012 Sponsor [Member]
Related Party Transaction [Line Items]
Insurance expense paid					$ 387,000	$ 630,000
Compensation and benefit costs, net							1,224,000
General and administrative expenses	$ 811,000	$ 1,487,000	$ 2,436,000	$ 1,657,000				$ 0	$ 1,483,000	$ 993,000	$ 1,653,000

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Net loss per share - Computation of Net Loss per Share on Basic and Diluted Basis (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income / loss (numerator):
Net income / (loss) from continuing operations	$ 137,000	$ (1,566,000)	$ (6,742,000)	$ (1,730,000)
Income from discontinued operations	986,000		1,008,000
Noncontrolling interest	4,664,000		5,559,000
Conversion of preferred units	10,456,000		10,456,000
Net loss attributable to common shareholders	$ (13,997,000)	$ (1,566,000)	$ (21,749,000)	$ (1,730,000)
Weighted-average shares (denominator):
Total weighted-average shares	95,971,706	3,301,667	72,234,717	3,301,667
Net loss per share- basic and diluted:
Loss from continuing operations	$ (0.16)	$ (0.47)	$ (0.31)	$ (0.52)
Income from discontinued operations	$ 0.01		$ 0.01
Net loss per share- basic and diluted	$ (0.15)	$ (0.47)	$ (0.30)	$ (0.52)
Formation Transactions [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	3,301,000	3,301,000	3,301,000	3,301,000
Formation Transactions [Member] | Class B Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	667	667	667	667
2012 Offering [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	35,362,998		35,362,998
2013 Offering [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	46,718,750		28,134,496
2,770 Property Contribution [Member] | Class B Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	634,408		431,117
Alaska Joint Venture Acquisition [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	9,584,482		4,818,718
Subscription Agreement [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	363,115		182,561
Board of Trustees [Member] | Class A Common Shares [Member]
Weighted-average shares (denominator):
Total weighted-average shares	6,286		3,160

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Deferred costs and other intangibles - Deferred costs and other intangibles (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013
Acquired Indefinite-lived Intangible Assets [Line Items]
Deferred leasing costs	$ 5,007
Deferred financing costs	8,273
Intangible assets:
Intangible assets	24,565
Less: accumulated amortization	(2,587)
Total	21,978
In-Place Lease Values [Member]
Intangible assets:
Intangible assets	6,085
Total	5,767
Trademark [Member]
Intangible assets:
Intangible assets	3,100
Total	2,980
Database [Member]
Intangible assets:
Intangible assets	2,100
Total	$ 2,083

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Debt (Tables)

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Amortization of Deferred Financing Costs and Capitalized Interest

The following table outlines our gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the three and six months ended June 30, 2013 (in thousands):

	Three Months Ended June 30, 2013		Six Months Ended June 30, 2013
Gross interest	$	2,028	$	2,398
Capitalized interest		2,028		2,028
Interest expense	$	—	$	370

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Deferred costs and other intangibles (Tables)

6 Months Ended

Jun. 30, 2013

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Deferred Costs and Other Intangibles

Deferred costs and other intangibles, net, consists of the following as of June 30, 2013 (in thousands):

	June 30, 2013
Deferred leasing costs	$	5,007
Deferred financing costs		8,273
Intangible assets:
In-place lease values		6,085
Trademark		3,100
Database		2,100
		24,565
Less: accumulated amortization		(2,587	)
Total	$	21,978

Amortization Expense Related to Deferred Costs and Other Intangibles

The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles as of June 30, 2013 for future periods (in thousands):

Year	Deferred Leasing Costs		Deferred Financing Costs		In-place Lease Values		Trademark		Database
Remaining 2013	$	1,863	$	2,047	$	3,042	$	211	$	133
2014		1,863		1,995		2,725		658		299
2015		—		1,548		—		658		299
2016		—		1,548		—		660		300
2017		—		284		—		658		299
Thereafter		—		—		—		135		753
Total	$	3,726	$	7,422	$	5,767	$	2,980	$	2,083

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Shareholders' equity - Additional Information 2 (Detail) (USD $)	3 Months Ended	6 Months Ended		6 Months Ended	12 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended		1 Months Ended		1 Months Ended	6 Months Ended		3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended	1 Months Ended	3 Months Ended	6 Months Ended				3 Months Ended	6 Months Ended			3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013	Jun. 14, 2013	Jun. 30, 2013 2012 Equity Incentive Plan [Member]	Dec. 31, 2012 2012 Equity Incentive Plan [Member]	Jun. 30, 2013 Advisor [Member]	Jun. 30, 2013 Advisor [Member]	Jun. 30, 2013 Property Manager [Member]	Jun. 30, 2013 Property Manager [Member]	Dec. 31, 2012 3.5% Convertible Perpetual Preferred Units [Member] Operating Partnership [Member]	Jun. 14, 2013 3.5% Convertible Perpetual Preferred Units [Member] Operating Partnership [Member]	Jun. 14, 2013 Class A Common Shares [Member]	Dec. 31, 2012 Class A Common Shares [Member]	Apr. 04, 2013 Class A Common Shares [Member] 2012 Equity Incentive Plan [Member]	Jun. 30, 2013 Class A Common Shares [Member] 2012 Equity Incentive Plan [Member]	Dec. 31, 2012 Class A Common Shares [Member] 2012 Equity Incentive Plan [Member]	Jun. 30, 2013 Class A Common Shares [Member] Equity Option [Member] 2012 Equity Incentive Plan [Member]	Jun. 30, 2013 Class A Common Shares [Member] Equity Option [Member] 2012 Equity Incentive Plan [Member]	Jun. 30, 2013 Class A Common Shares [Member] Equity Option [Member] 2012 Equity Incentive Plan [Member] Board of Trustees [Member]	Jun. 30, 2013 Class A Common Shares [Member] Equity Option [Member] 2012 Equity Incentive Plan [Member] Board of Trustees [Member]	Jun. 30, 2013 Class A Common Shares [Member] Subscription Agreement [Member]	Dec. 31, 2012 Class A Common Shares [Member] Subscription Agreement [Member] Option One [Member]	Jun. 14, 2012 Class A Common Shares [Member] Operating Partnership [Member]	Jun. 30, 2013 Class A Units [Member]	Jun. 30, 2013 Class A Units [Member]	Dec. 31, 2012 Class A Units [Member]	Jun. 30, 2013 Class A Units [Member] Operating Partnership [Member]	Dec. 31, 2012 Class A Units [Member] Operating Partnership [Member]	Jun. 30, 2013 Series C Convertible Units [Member]	Jun. 30, 2013 Series C Convertible Units [Member]	Jun. 30, 2013 Series C Convertible Units [Member] Operating Partnership [Member]	Jun. 30, 2013 Series D Convertible Units [Member] Operating Partnership [Member]	Jun. 30, 2013 Preferred Units [Member]	Jun. 30, 2013 Preferred Units [Member]	Apr. 30, 2013 Maximum [Member] Class A Common Shares [Member] 2012 Equity Incentive Plan [Member]	Apr. 30, 2013 Minimum [Member] Class A Common Shares [Member] 2012 Equity Incentive Plan [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Preferred Units issued			653,492							653,492
Rate of Preferred Units										3.50%
Annual distribution										$ 0.525
Fair market value per Preferred Unit										15.00
Preferred Units outstanding											653,492
Issuance of shares under the Plan													650,000			1,500,000																			6,000,000	1,500,000
Plan termination date				November 2022
Stock options granted					50,000
Vesting Period				4 years	4 years
Expiration period of Options				10 years	10 years
Stock options cancelled				30,000
Reclassified grants to employees, stock options															485,000
Share-based compensation expense	$ 279,000	$ 453,000															$ 167,000	$ 341,000	$ 112,000	$ 112,000
Common stock issued														6,500
Issuance of common shares																					434,783	3,333,334
Aggregate purchase price of shares																						50,000,000
Purchase price per share																					$ 17.25	$ 15.00
Percentage of interest held																								9.58%	9.58%	0.10%
Units outstanding																											143,855,792	38,697,333			31,085,974	4,375,000
Preferred Units converted into Class A units												653,492											653,492
Noncontrolling interest	$ 4,664,000	$ 5,559,000				$ 2,000	$ 2,000	$ 2,000	$ 2,000															$ 107,000	$ 110,000				$ 4,698,000	$ 5,510,000			$ 71,000	$ 157,000

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Significant accounting policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2013
Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Acquired leases term	6 months
Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Acquired leases term	2 years

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Deferred costs and other intangibles - Amortization Expense Related to Deferred Costs and Other Intangibles (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013
Finite-Lived Intangible Assets [Line Items]
Total	$ 21,978
In-Place Lease Values [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2013	3,042
2014	2,725
2015
2016
2017
Thereafter
Total	5,767
Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2013	211
2014	658
2015	658
2016	660
2017	658
Thereafter	135
Total	2,980
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2013	133
2014	299
2015	299
2016	300
2017	299
Thereafter	753
Total	2,083
Deferred Leasing Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2013	1,863
2014	1,863
2015
2016
2017
Thereafter
Total	3,726
Deferred Financing Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Remaining 2013	2,047
2014	1,995
2015	1,548
2016	1,548
2017	284
Thereafter
Total	$ 7,422

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Contributions by our Sponsor - Additional Information (Detail) (USD $)	1 Months Ended	6 Months Ended			1 Months Ended						1 Months Ended	4 Months Ended		1 Months Ended			4 Months Ended	6 Months Ended	12 Months Ended
	Feb. 28, 2013	Jun. 30, 2013 Property	Jun. 30, 2012	Dec. 31, 2012 Property	Feb. 28, 2013 2,770 Property Contribution [Member] Property	Jun. 30, 2013 2,770 Property Contribution [Member] Sponsor [Member] Property	Dec. 31, 2012 2,770 Property Contribution [Member] Sponsor [Member] Property	Dec. 31, 2011 2,770 Property Contribution [Member] Sponsor [Member] Property	Jun. 30, 2013 Class A Common Shares [Member]	Dec. 31, 2012 Class A Common Shares [Member]	Feb. 28, 2013 Class B Common Shares [Member]	Jun. 30, 2013 Class B Common Shares [Member]	Dec. 31, 2012 Class B Common Shares [Member]	Feb. 28, 2013 Class B Common Shares [Member] 2,770 Property Contribution [Member]	Feb. 28, 2013 Series C convertible units [Member] 2,770 Property Contribution [Member] Operating Partnership [Member]	Feb. 28, 2013 Common Class C [Member]	Jun. 30, 2013 Series C Convertible Units [Member]	Jun. 30, 2013 Series C Convertible Units [Member] Operating Partnership [Member]	Dec. 31, 2012 2012 Offering [Member] Property	Dec. 31, 2012 2012 Offering [Member] Class A Common Shares [Member]	Dec. 31, 2012 2012 Offering [Member] Class B Common Shares [Member]
Significant Acquisitions and Disposals [Line Items]
Number of properties		18,326		3,644	2,770	109	2,628	33											367
Investment made in cash by sponsor																			$ 556,000
Contributed single-family properties value																			49,444,000
Acquisition fee																			5.00%
Common shares issue to sponsor									129,433,425	38,663,998	634,408	635,075	667	634,408						3,300,000	667
Units issue to sponsor															31,085,974				32,667
Net book value of properties contributed																			47,646,000
Costs to transfer title to the properties																			455,000
Total consideration amount					491,666,000
Common units issue to sponsor per unit															$ 15.50			$ 15.50
Common shares issue to sponsor per share														$ 15.50
Net asset value reclassified from additional paid-in capital	386,500,000	384,221,000	122,481,000
Units issue to sponsor, value																378,770,000
Common shares issue to sponsor, value											7,730,000
Other liabilities net associated with the properties	2,508,000	2,508,000
Costs of improvements		11,475,000
Increase in Units issued to sponsor																	11,246,000
Increase in common shares issue to sponsor												229,000
Total reduction to additional paid-in capital		356,487,000
Credit associated to properties acquired		19,552,000
Excess of par value associated with issuance of the shares		7,953,000
Par value of common shares		6,000
Permanent reduction in advisory fee	$ 9,800,000

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Net loss per share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Computation of Net Loss per Share on Basic and Diluted Basis

The following table reflects the computation of net loss per share on a basic and diluted basis for the three and six months ended June 30, 2013 and 2012 (in thousands, except share information):

	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Income / loss (numerator):
Net income / (loss) from continuing operations	$	137		$	(1,566	)	$	(6,742	)	$	(1,730	)
Income from discontinued operations		986			—			1,008			—
Noncontrolling interest		4,664			—			5,559			—
Conversion of preferred units		10,456			—			10,456			—
Net loss attributable to common shareholders	$	(13,997	)	$	(1,566	)	$	(21,749	)	$	(1,730	)
Weighted-average shares (denominator):
Class A common shares issued in formation transactions		3,301,000			3,301,000			3,301,000			3,301,000
Class B common shares issued in formation transactions		667			667			667			667
Class A common shares issued in 2012 Offering		35,362,998			—			35,362,998			—
Class A common shares issued in 2013 Offering		46,718,750			—			28,134,496			—
Class B common shares issued in connection with 2,770 Property Contribution		634,408			—			431,117			—
Class A common shares issued to members of board of trustees		6,286			—			3,160			—
Class A common shares issued in settlement of subscription agreement		363,115			—			182,561			—
Class A common shares issued in connection with Alaska Joint Venture Acquisition		9,584,482			—			4,818,718			—
Total weighted-average shares		95,971,706			3,301,667			72,234,717			3,301,667
Net loss per share- basic and diluted:
Loss from continuing operations	$	(0.16	)	$	(0.47	)	$	(0.31	)	$	(0.52	)
Income from discontinued operations		0.01			—			0.01			—
Net loss per share- basic and diluted		(0.15	)		(0.47	)		(0.30	)		(0.52	)

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Subsequent events - Additional Information (Detail) (USD $)		1 Months Ended				1 Months Ended
	Jun. 30, 2013 Property	Aug. 31, 2013 Subsequent Events [Member]	Aug. 06, 2013 Subsequent Events [Member]	Aug. 22, 2013 Subsequent Events [Member]	Jul. 31, 2013 Subsequent Events [Member] Property	Aug. 21, 2013 Subsequent Events [Member] Class A Common Shares [Member]	Aug. 21, 2013 Subsequent Events [Member] IPO [Member]	Aug. 06, 2013 Subsequent Events [Member] IPO [Member]	Aug. 21, 2013 Subsequent Events [Member] IPO [Member] Class A Common Shares [Member]	Aug. 06, 2013 Subsequent Events [Member] Private Placement [Member]
Subsequent Event [Line Items]
Number of properties acquired	1,872				1,499
Aggregate purchase price of properties acquired	$ 272,091,000				$ 208,762,000
Proceeds from offering before fees							105,882,000	705,882,000		75,000,000
Underwriting discounts and offering costs								36,952,000
Price per share								$ 16.00		$ 16.00
Fees associated with the sale of stock							5,029,000
Option to purchase additional shares in offering						55,422,794			6,617,647
Credit facility, additional borrowings, amount			170,000,000
Credit facility, amount outstanding			840,000,000	34,000,000
Credit facility, repayment, amount		90,000,000	716,000,000
Credit facility, maximum borrowing capacity			$ 500,000,000

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Accounts payable and accrued expenses - Schedule of Accounts Payable and Accrued Expenses (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Payables And Accruals [Abstract]
Accounts payable	$ 12,610	$ 259
Accrued property taxes	20,163	4,760
Other accrued liabilities	15,999	1,473
Accrued construction liabilities	12,594	3,059
Resident security deposits	13,952	1,731
Total	$ 75,318	$ 11,282

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Single-family properties (Tables)

6 Months Ended

Jun. 30, 2013

Real Estate [Abstract]

Schedule of Single-Family Properties

Single-family properties, net, consists of the following as of June 30, 2013 and December 31, 2012 (dollars in thousands):

	June 30, 2013
	Number of properties		Net book value
Leased single-family properties		10,245	$	1,713,955
Single-family properties being renovated		6,074		960,156
Vacant single-family properties available for lease		2,007		365,393
Total		18,326	$	3,039,504

	December 31, 2012
	Number of properties		Net book value
Leased single-family properties		1,164	$	158,068
Single-family properties being renovated		1,857		261,136
Vacant single-family properties available for lease		623		86,509
Total		3,644	$	505,713

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Condensed Consolidated Statements of Equity (Parenthetical) (2013 Offering [Member], USD $)	1 Months Ended	6 Months Ended
	Mar. 31, 2013	Jun. 30, 2013
2013 Offering [Member]
Net of offering costs	$ 44,003,000	$ 44,003,000

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Organization and operations

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Organization and operations

Note 1. Organization and operations

The Company is a Maryland REIT formed on October 19, 2012. We are focused on acquiring, renovating, leasing and operating single-family properties as rental properties. As of June 30, 2013, the Company held 18,326 single-family properties in 21 states. In November and December 2012, the Company raised approximately $530,413,000 before aggregate placement agent fees and offering costs of $40,928,000, including $5,307,000 related to the value of the option issued to the Sponsor, in an offering exempt from registration under the Securities Act of 1933 (the “2012 Offering”). In March 2013, the Company raised $747,500,000 before aggregate placement agent fees and offering costs of $44,003,000 in an offering exempt from registration under the Securities Act of 1933 (the “2013 Offering”). On August 6, 2013, the Company raised $705,882,000 before aggregate underwriting discounts and offering costs of $36,952,000 in our initial public offering (the “IPO”). Concurrently with the IPO, the Company raised an additional $75,000,000 in private placements, which was made at the IPO offering price and without payment of any underwriting discount, to the Sponsor and APFC (collectively, the “2013 Concurrent Private Placements”). Additionally, on August 21, 2013, the Company raised $105,882,000 before aggregate underwriting discounts of $5,029,000 by issuing an additional 6,617,647 Class A common shares in connection with the IPO underwriters’ exercise in full of their option to purchase additional shares.

From our formation through June 10, 2013, we were externally managed and advised by American Homes 4 Rent Advisor, LLC (the “Advisor”) and the leasing, managing and advertising of our properties was overseen and directed by American Homes 4 Rent Management Holdings, LLC (the “Property Manager”), both of which were subsidiaries of the Sponsor. On June 10, 2013, we acquired the Advisor and the Property Manager from the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in our Operating Partnership (the “Management Internalization”). Under the terms of the contribution agreement, all administrative, financial, property management, marketing and leasing personnel, including executive management, became fully dedicated to us (see Note 10).

Prior to the Management Internalization, the Sponsor exercised control over the Company through the contractual rights provided to the Advisor through an advisory management agreement. Accordingly, certain properties contributed by the Sponsor to the Company prior to the Management Internalization have been deemed to be transactions between entities under common control, and as such, the accounts relating to the properties contributed have been recorded by us as if they had been acquired by us on the dates such properties were acquired by our Sponsor (see Note 9). Accordingly, the accompanying condensed consolidated financial statements include the Sponsor’s historical results of operations and carrying values of the properties that had been acquired by the Sponsor. The Sponsor commenced acquiring these properties on June 23, 2011, and accordingly, the statements of operations reflect activity prior to the Company’s date of formation. Therefore, the accompanying condensed consolidated financial statements are not indicative of the Company’s past or future results and do not reflect its financial position, results of operations, changes in equity, and cash flows had they been presented as if the Company had been operated independently during the periods presented.

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Deferred costs and other intangibles

6 Months Ended

Jun. 30, 2013

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Deferred costs and other intangibles

Note 4. Deferred costs and other intangibles

Deferred costs and other intangibles, net, consists of the following as of June 30, 2013 (in thousands):

	June 30, 2013
Deferred leasing costs	$	5,007
Deferred financing costs		8,273
Intangible assets:
In-place lease values		6,085
Trademark		3,100
Database		2,100
		24,565
Less: accumulated amortization		(2,587	)
Total	$	21,978

Amortization expense related to deferred leasing costs, in-place lease values, trademark and database was approximately $1,907,000 for the three and six months ended June 30, 2013, which has been included in depreciation and amortization. Amortization of deferred financing costs was $666,000 and $852,000 for the three and six months ended June 30, 2013, which has been included in gross interest, prior to interest capitalization (see Note 5).

The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles as of June 30, 2013 for future periods (in thousands):

Year	Deferred Leasing Costs		Deferred Financing Costs		In-place Lease Values		Trademark		Database
Remaining 2013	$	1,863	$	2,047	$	3,042	$	211	$	133
2014		1,863		1,995		2,725		658		299
2015		—		1,548		—		658		299
2016		—		1,548		—		660		300
2017		—		284		—		658		299
Thereafter		—		—		—		135		753
Total	$	3,726	$	7,422	$	5,767	$	2,980	$	2,083

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Significant accounting policies

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Significant accounting policies

Note 2. Significant accounting policies

Basis of presentation

The accompanying condensed consolidated financial statements are unaudited and include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the condensed consolidated financial statements for the interim periods have been made. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

There have been no changes to our significant accounting policies that have had a material impact on our condensed consolidated financial statements and related notes and therefore notes to the condensed consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements have been omitted.

Single-family properties

Transactions in which single-family properties are purchased that are not subject to an existing lease are treated as asset acquisitions, and as such are recorded at their purchase price, including acquisition fees, which is allocated to land and building based upon their relative fair values at the date of acquisition. Single-family properties that are acquired either subject to an existing lease or as part of a portfolio level transaction (see Note 10) are treated as a business combination under Accounting Standards Codification (“ASC”) 805, Business Combinations, and as such are recorded at fair value, allocated to land, building and the existing lease, if applicable, based upon their relative fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined based on ASC 820, Fair Value Measurements and Disclosures, primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company engages a third party valuation specialist to assist in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions.

The value of acquired lease related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (six months to two years).

Intangible assets

Intangible assets are amortized on a straight-line basis over the asset’s estimated economic life and will be tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:

	Amortizable Life
Trademark		4.7 years
Database		7 years

Goodwill

Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired as part of the Management Internalization (see Note 10). Goodwill has an indefinite life and is therefore not amortized. The Company will analyze goodwill for impairment on an annual basis, or if certain events or circumstances occur, pursuant to ASC 350, Intangibles—Goodwill and Other. No impairments have been recorded as of June 30, 2013.

Deferred financing costs

Financing costs related to the origination of the Company’s bridge loan and line of credit are deferred and amortized on an effective interest method, which approximates straight-line basis over the contractual terms of the applicable financings.

Recently issued and adopted accounting standards

In July 2012, the Financial Accounting Standards Board issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a “qualitative” assessment to determine whether further impairment testing is necessary. The revised standard allows an entity first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not (that is, a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If it is more likely than not that the asset is impaired, the entity must calculate the fair value of the asset, compare the fair value to its carrying amount, and record an impairment charge, if the carrying amount exceeds fair value. However, if an entity concludes that it is not more likely than not that the asset is impaired, no further action is required. The qualitative assessment is not an accounting policy election. An entity can choose to perform the qualitative assessment on none, some, or all of its indefinite-lived intangible assets. Moreover, an entity can bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test, and then choose to perform the qualitative assessment in any subsequent period. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance did not have a material impact on the Company’s financial position or results of operations.

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Debt - Additional Information (Detail) (USD $)			6 Months Ended		6 Months Ended		6 Months Ended			6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2013 Senior Secured Revolving Credit Facility [Member]	Mar. 07, 2013 Senior Secured Revolving Credit Facility [Member]	Jun. 30, 2013 Term Loan [Member] Scenario, Terms of Extension [Member]	Jun. 30, 2013 Minimum [Member] Senior Secured Revolving Credit Facility [Member]	Jun. 30, 2013 Maximum [Member] Senior Secured Revolving Credit Facility [Member]	Jun. 30, 2013 Bridge Loan [Member]	Feb. 25, 2013 Bridge Loan [Member]	Jun. 30, 2013 Temporary Increase in Borrowings [Member] Senior Secured Revolving Credit Facility [Member]	Jun. 06, 2013 Temporary Increase in Borrowings [Member] Senior Secured Revolving Credit Facility [Member]
Proforma Debt Instrument [Line Items]
Debt instrument face amount									$ 250,000,000
Debt instrument, description of variable rate								LIBOR		30 day LIBOR
Debt instrument, basis spread on variable rate								1.50%		2.75%
Debt instrument expired								May 24, 2013		Mar. 06, 2014
Debt instrument, origination fee								250,000
Debt instrument, amount maximum outstanding								115,000,000
Debt instrument, repayments of debt								115,000,000
Credit facility amount				500,000,000							500,000,000
Credit facility amount, maximum			1,000,000,000
Percentage of amount borrowed based on credit facility			50.00%
Cash and cash equivalents	251,406,000	397,198,000				15,000,000
Maximum leverage ratio							1.0
Debt service coverage ratio			2.0
Tangible net worth						1,000,000,000
Expiration date of credit facility			Mar. 07, 2015
Expiration of credit facility period					1 year
Initial structuring fee			5,000,000
Administrative fee										1,250,000
Payment of commitment fee annual rate			0.40%
Borrowings outstanding			$ 670,000,000							$ 170,000,000

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Accounts payable and accrued expenses (Tables)

6 Months Ended

Jun. 30, 2013

Payables And Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

The following table summarizes accounts payable and accrued expenses as of June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013		December 31, 2012
Accounts payable	$	12,610	$	259
Accrued property taxes		20,163		4,760
Other accrued liabilities		15,999		1,473
Accrued construction liabilities		12,594		3,059
Resident security deposits		13,952		1,731
Total	$	75,318	$	11,282

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Fair Value (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value of Contingently Convertible Series E Units Liability

The following table sets forth the fair value of the contingently convertible series E units liability as of June 30, 2013 (in thousands):

			June 30, 2013
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Contingently convertible Series E units liability	$	64,881	$	—	$	—	$	64,881

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Single-family properties - Additional Information (Detail) (USD $)					3 Months Ended		6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2013 Recorded Deed of Trust Not Received [Member]	Dec. 31, 2012 Recorded Deed of Trust Not Received [Member]	Jun. 30, 2013 Single-Family Properties [Member]	Jun. 30, 2012 Single-Family Properties [Member]	Jun. 30, 2013 Single-Family Properties [Member]	Jun. 30, 2012 Single-Family Properties [Member]
Property Subject to or Available for Operating Lease [Line Items]
Net book value	$ 3,039,504,000	$ 505,713,000	$ 208,156,000	$ 131,819,000
Depreciation expense					$ 8,972,000	$ 77,000	$ 11,877,000	$ 102,000

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Acquisitions and Dispositions - Schedule of Total Revenues and Net Income Attributable to Acquisitions (Detail) (USD $) In Thousands, unless otherwise specified	0 Months Ended
	Jun. 30, 2013
Management Internalization [Member]
Business Acquisition [Line Items]
Total revenues	$ 239
Net (loss) / income	(2,112)
Alaska Joint Venture Acquisition [Member]
Business Acquisition [Line Items]
Total revenues	2,871
Net (loss) / income	(280)
2013 RJ Transaction [Member]
Business Acquisition [Line Items]
Total revenues	278
Net (loss) / income	$ 4

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Contributions by our Sponsor - Summary of Net Assets and Historical Net Loss of Single-Family Properties Acquired by Sponsor (Detail) (USD $)	3 Months Ended		6 Months Ended			1 Months Ended	6 Months Ended	2 Months Ended
	Jun. 30, 2013 Property	Jun. 30, 2012	Jun. 30, 2013 Property	Jun. 30, 2012	Dec. 31, 2012 Property	Feb. 28, 2013 2,770 Property Contribution [Member] Property	Dec. 31, 2012 2,770 Property Contribution [Member] Business Acquisition One [Member] Property	Feb. 28, 2013 2,770 Property Contribution [Member] Business Acquisition Two [Member] Property
Significant Acquisitions and Disposals [Line Items]
Number of properties	18,326		18,326		3,644	2,770	2,661	109
Single family properties	$ 3,039,504,000		$ 3,039,504,000		$ 505,713,000	$ 386,500,000	$ 365,937,000	$ 20,563,000
Other assets						5,117,000	7,203,000	(2,086,000)
Other liabilities						(7,625,000)	(8,183,000)	558,000
Net assets contributed						383,992,000	364,957,000	19,035,000
Rents from single family properties	17,585,000	184,000	24,144,000	280,000		8,133,000	4,413,000	3,720,000
Property operating expenses						(5,246,000)	(3,326,000)	(1,920,000)
Depreciation						(3,345,000)	(2,021,000)	(1,324,000)
Allocated general and administrative expenses	(811,000)	(1,487,000)	(2,436,000)	(1,657,000)		(7,989,000)	(6,996,000)	(993,000)
Net loss						(8,447,000)	(7,930,000)	(517,000)
Contributed net assets and net loss						$ 392,439,000	$ 372,887,000	$ 19,552,000

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Shareholders' equity - Additional Information 1 (Detail) (Operating Partnership [Member], USD $) In Millions, except Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2013
Series C Convertible Units [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Percentage of Property Contribution	3.90%
Percentage of scheduled rents	98.00%
Property Contributions price per unit	$ 15.50
Units outstanding	31,085,974
Series D Convertible Units [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Units outstanding	4,375,000
Stock split conversion ratio	1
Closing price per share	$ 18.00
Series D Convertible Units [Member] | Scenario one, over four consecutive quarters [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Adjusted funds from operations per common share	$ 0.80
Series D Convertible Units [Member] | Scenario two, two consecutive quarters [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Units distribution percentage	70.00%
Series E Convertible Units [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Units outstanding	4,375,000
Stock split conversion ratio	1
Annualized EBITDA Contribution	$ 14
Series E Convertible Units [Member] | Scenario three, measurement period [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
EBITDA contribution	$ 28

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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Class A Common Shares [Member]
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	450,000,000	450,000,000
Common shares, shares issued	129,433,425	38,663,998
Common shares, shares outstanding	129,433,425	38,663,998
Class B Common Shares [Member]
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	50,000,000	50,000,000
Common shares, shares issued	635,075	667
Common shares, shares outstanding	635,075	667

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Shareholders' equity

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Shareholders' equity

Note 7. Shareholders’ equity

Class A common shares

The Class A common shares sold in the 2013 Offering (46,718,750 shares) and the 2012 Offering (35,360,898 shares) are subject to registration rights agreements. Under the terms of these agreements, we agreed to use commercially reasonable efforts to file a resale registration statement as soon as reasonably practical but not later than November 21, 2013 (unless extended by our board of trustees for a period not to exceed 180 days). In addition, these agreements provide that if by May 20, 2014 (unless extended by our board of trustees for a period not to exceed 180 days), either (i) a shelf registration statement for the resale of the Class A common shares has not been declared effective by the SEC, or (ii) our Class A common shares have not been listed for trading on a national securities exchange, we will be required to hold a special meeting of our shareholders for the purpose of considering and voting on the removal of our trustees, unless the holders of 75% of the outstanding Class A common shares sold in the 2013 Offering and in the 2012 Offering consent to a waiver or deferral of the special meeting.

In connection with the Management Internalization (see Note 10), we entered into a registration rights agreement with the Sponsor providing for registration rights exercisable after December 10, 2015. After June 10, 2015, if we are eligible to file a shelf registration statement, the Sponsor will have the right to request that we file and maintain a shelf registration statement to register for resale the Class A common shares and securities convertible into Class A common shares that are held by the Sponsor. The Sponsor also has a right to “piggy-back” registration rights to include the Class A common shares and securities convertible into Class A common shares that the Sponsor owns in other registration statements that we may initiate.

In connection with the Alaska Joint Venture Acquisition (see Note 10), we entered into a registration rights agreement with APFC. Under the terms of such agreement, after we become eligible to file a shelf registration statement on Form S-3, APFC has a right to request that we file and maintain a shelf registration statement with the SEC to register for resale the Class A common shares acquired by APFC in connection with the Alaska Joint Venture Acquisition. APFC also has a right to “piggy-back” registration in the event we conduct future offerings of Class A common shares for our own behalf.

As discussed in Note 15, the Company sold an additional 55,422,794 Class A common shares in August 2013 in connection with the IPO, 2013 Concurrent Private Placements and full exercise of the IPO underwriters’ option to purchase an additional 6,617,647 shares.

Class B common shares

Our Sponsor received a total of 635,075 shares of Class B common shares in our Company in connection with its investment in the 2012 Offering and the 2,770 Property Contribution (see Note 9). Each Class B common share generally entitles the holder to 50 votes on all matters that the holders of Class A common shares are entitled to vote. The issuance of Class B common shares to our Sponsor allows the Sponsor a voting right associated with its investment in the Company no greater than if it had solely received Class A common shares. Additionally, when the voting interest from Class A common shares and Class B common shares are added together, a shareholder is limited to a 30% total voting interest. Each Class B common share has the same economic interest as a Class A common share.

Class A units

Class A units represent voting equity interests in the Operating Partnership. Holders of Class A units in the Operating Partnership have the right to redeem the units for cash or, at the election of the Company, exchange the units for the Company’s Class A common shares on a one-for-one basis. The Company owned 90.42% and 99.92% of the total 143,855,792 and 38,697,333 Class A units outstanding as of June 30, 2013 and December 31, 2012, respectively.

Series C convertible units

Series C convertible units represent voting equity interests in the Operating Partnership. Holders of the Series C convertible units are entitled to distributions equal to the actual net cash flow of the properties contributed as part of the 2,770 Property Contribution up to a maximum of 3.9% per unit per annum based on a price per unit of $15.50, but will not be entitled to any distributions of income generated by any other properties or operations of our company or any liquidating distributions. Holders of the Series C units have a one-time right to convert all such units into Class A units on a unit for unit basis. If on the date of conversion, the contributed properties had not been initially leased for at least 98% of the scheduled rents (determined on an aggregate basis), then the Series C units with respect to the single-family properties leased for at least 98% of the scheduled rents (determined on an aggregate basis) will convert into Class A units, and the Series C units associated with the remaining single-family properties will convert into a number of Class A units determined by dividing the original aggregate cost of the properties (including the acquisition fees) by $15.50, with proportionate reduction in Class B common shares. If the Series C units have not been converted by the earlier of the third anniversary of the original issue date, or the date of commencement of a dissolution or liquidation, then the Series C units will automatically convert into Class A units at the specified conversion ratio defined above. As of June 30, 2013, the Sponsor owned all of the 31,085,974 outstanding Series C convertible units.

Series D convertible units

Series D convertible units represent non-voting equity interests in the Operating Partnership. Holders of the Series D convertible units do not participate in any distributions for 30 months from the date of issuance and do not participate in any liquidating distributions at any point in time. The Series D units are automatically convertible into Class A units on a one-for-one basis only after the later of (1) 30 months after the date of issuance and (2) the earlier of (i) the date on which adjusted funds from operations per Class A common share aggregates $0.80 or more over four consecutive quarters following the closing of the Management Internalization or (ii) the date on which the daily closing price of our Class A common shares on the NYSE averages $18.00 or more for two consecutive quarters following the closing of the Management Internalization. After 30 months, the Series D units will participate in distributions (other than liquidating distributions) at a rate of 70% of the per unit distributions on the Class A units. As of June 30, 2013, the Sponsor owned all of the 4,375,000 outstanding Series D units (see Note 10).

Series E convertible units

Series E convertible units represent non-voting equity interests in the Operating Partnership. Series E convertible units do not participate in any distributions and automatically convert into Series D units, or if the Series D units have previously converted into Class A units, into Class A units, on February 29, 2016 subject to an earn-out provision based on the level of pro forma annualized EBITDA contribution, as defined, of the Advisor and the Property Manager. Based on the terms of the earn-out provision, if pro forma annualized EBITDA contribution, as defined, equals or exceeds $28 million during the six-month period ending December 31, 2015 (the “measurement period”), the Series E units will convert into Series D units (or if the Series D units have previously converted into Class A units, into Class A units) on a one-for-one basis at February 29, 2016. If, during the measurement period, the pro forma annualized EBITDA contribution, as defined, is less than $28 million, the Series E units will convert into a number of Series D units (or if the Series D units have previously converted into Class A units, into Class A units) determined by (1) dividing (A) Pro Forma Annualized EBITDA Contribution during the Measurement Period less $14 million by (B) $14 million and (2) multiplying that result by 4,375,000. Series E units which are not converted at the end of the measurement period, if any, will be cancelled.

Because the Series E units may potentially be settled by issuing a variable number of Series D units or Class A units, the Series E units have been recorded at fair value and reflected as a liability in accordance with ASC 480, Distinguishing Liabilities and Equity, in the accompanying condensed consolidated balance sheets and will be marked to market each period. As of June 30, 2013, the Sponsor owned all of the 4,375,000 outstanding Series E units (see Note 10).

3.5% convertible perpetual preferred units

In connection with the Company’s acquisition of a Class B ownership interest in RJ American Homes 4 Rent Investments, LLC (“RJ LLC”) on December 31, 2012 (see Note 10), the Company issued 653,492 3.5% convertible perpetual preferred units (“Preferred Units”) to the Sponsor. The Preferred Units represented non-voting equity interest in the Operating Partnership and entitled the holder to a preferred annual distribution equal to $0.525 per unit, when authorized and declared by the general partner of the Operating Partnership (i.e., the Company). Distributions accrued on a cumulative basis from the date of original issue and were payable quarterly. Preferred Units were entitled to a liquidation preference that ranked above all other equity interests in the Operating Partnership and were payable in cash or property at fair market value (as determined by the general partner) of $15.00 per Preferred Unit, plus any accrued and unpaid distributions upon any liquidation or dissolution. Beginning on June 30, 2013, the Sponsor had a one-time right to tender all of the Preferred Units for Class A units of the Operating Partnership on a one-for-one basis.

In connection with the Sponsor’s contribution of its remaining ownership interest in RJ LLC to the Company on June 14, 2013, all of the outstanding 653,492 Preferred Units held by the Sponsor were converted into Class A units (see Note 10).

2012 Equity Incentive Plan

In 2012, we adopted the 2012 Equity Incentive Plan (the “Plan”) to provide persons with an incentive to contribute to the success of the Company and to operate and manage our business in a manner that will provide for the Company’s long-term growth and profitability. The Plan provides for the issuance of up to 1,500,000 Class A common shares through the grant of a “variety of awards” including stock options, stock appreciation rights, restricted stock, unrestricted shares, dividend equivalent rights and performance-based awards. The Plan terminates in November 2022, unless it is earlier terminated by the board of trustees. In April 2013, our board of trustees approved an amendment to the Plan allowing for an increase in the maximum number of Class A common shares available for issuance from 1,500,000 to 6,000,000.

In 2012, we granted stock options for 50,000 shares to trustees of the Company. These options vest over 4 years and expire 10 years from the date of grant. All of these options were outstanding as of June 30, 2013, and none were exercisable at that time. Noncash share-based compensation expense related to these options is based on the estimated fair value on the date of grant and is recognized in expense over the service period. Such expense is adjusted to consider estimated forfeitures. Estimated forfeitures are adjusted to reflect actual forfeitures at the end of the vesting period.

During 2012, the Company also granted stock options for 650,000 Class A common shares to certain employees of our Sponsor and its subsidiaries. During the six months ended June 30, 2013, 30,000 options were cancelled, no options were granted, and no options were exercised. None of these options were exercisable as of June 30, 2013. These options vest over 4 years and expire 10 years from the date of grant. Because these options were originally granted to nonemployees of the Company, noncash share-based compensation expense was initially recorded based on the estimated fair value of the options at grant date and was re-measured at the end of each period. As a result of the Management Internalization on June 10, 2013, certain former employees of the Sponsor became employees of the Company and, accordingly, stock options for 485,000 Class A common shares were reclassified as grants to employees and re-measured as of the date of the Management Internalization.

Total shared-based compensation expense related to stock options was $167,000 and $341,000 for the three and six months ended June 30, 2013, respectively. Such expense is adjusted to consider estimated forfeitures. Estimated forfeitures are adjusted to reflect actual forfeitures at the end of the vesting period. Also included in noncash share-based compensation expense for the three and six months ended June 30, 2013 was $112,000 associated with 6,500 Class A common shares issued to our trustees on April 4, 2013.

Subscription agreement

In 2012, we entered into a subscription agreement with the Sponsor under which the Sponsor had the option to purchase 3,333,334 Class A common shares through November 21, 2015 for an aggregate purchase price of $50,000,000 ($15.00 per share), the price per share of our Class A common shares in the 2012 Offering (the “Subscription Agreement”).

On April 16, 2013, the Company entered into an agreement with the Sponsor to fully settle the Subscription Agreement based on a price of $17.25 per share, a price determined based on the most recent trade in the Company’s shares at the time of settlement. Such settlement resulted in the issuance of 434,783 Class A common shares to the Sponsor.

Noncontrolling interest

Noncontrolling interest as reflected in the Company’s condensed consolidated balance sheet primarily consists of the interest held by the Sponsor in the Company’s Operating Partnership. As of June 30, 2013 and December 31, 2012, the Sponsor owned approximately 9.58% and 0.1%, respectively, of the Class A units in the Operating Partnership. Additionally, the Sponsor owned all 31,085,974 Series C convertible units and all 4,375,000 Series D convertible units in the Operating Partnership as of June 30, 2013. The Sponsor also owned all 653,492 Preferred Units in the Operating Partnership as of December 31, 2012, which were converted into Class A units on June 14, 2013 (see Note 10). Also included in noncontrolling interest are the outside ownership interests in the Company’s consolidated subsidiaries, RJ American Homes 4 Rent One, LLC (“RJ1”) and RJ American Homes 4 Rent Two, LLC (“RJ2”) (see Note 10).

Noncontrolling interest as reflected in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2013 primarily consisted of $4,698,000 and $5,510,000, respectively, of preferred income allocated to Series C convertible units, $71,000 and $157,000, respectively, of preferred income allocated to Preferred Units (prior to the date of conversion) and $107,000 and $110,000, respectively, of net loss allocated to Class A units. Also included in noncontrolling interest in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2013 was $2,000 of net income allocated to noncontrolling interests in the Company’s two consolidated subsidiaries, RJ1 and RJ2.

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Condensed Consolidated Statements of Equity (USD $)	Total	Alaska Joint Venture Acquisition [Member]	RJ LLC [Member]	2,770 Property Contribution [Member]	Class A Common Shares [Member]	Class A Common Shares [Member] Alaska Joint Venture Acquisition [Member]	Class A Common Shares [Member] Subscription Agreement [Member]	Class B Common Shares [Member]	Class B Common Shares [Member] 2,770 Property Contribution [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Alaska Joint Venture Acquisition [Member]	Additional Paid-in Capital [Member] 2,770 Property Contribution [Member]	Additional Paid-in Capital [Member] Subscription Agreement [Member]	Accumulated Deficit [Member]	Shareholders' Equity [Member]	Shareholders' Equity [Member] Alaska Joint Venture Acquisition [Member]	Shareholders' Equity [Member] 2,770 Property Contribution [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member] Alaska Joint Venture Acquisition [Member]	Noncontrolling Interest [Member] RJ LLC [Member]	Noncontrolling Interest [Member] 2,770 Property Contribution [Member]
Beginning Balances at Dec. 31, 2012	$ 905,164,000				$ 387,000					$ 914,565,000				$ (10,278,000)	$ 904,674,000			$ 490,000
Beginning Balances, shares at Dec. 31, 2012					38,663,998			667
Issuance of Class A common shares, net of offering costs of $44,003	703,497,000				467,000					703,030,000					703,497,000
Issuance of common stock, shares					46,718,750
Issuance of common stock other				33,535,000			4,000		6,000			(356,487,000)	(4,000)				(356,481,000)				390,016,000
Issuance of common stock other, shares							434,783		634,408
Management Internalization	65,188,000																	65,188,000
Joint Venture Acquisition		904,487,000	61,060,000			436,000					703,856,000					704,292,000			200,195,000	61,060,000
Joint Venture Acquisition, shares						43,609,394
Share-based compensation	453,000									453,000					453,000
Share-based compensation, Shares					6,500
Distributions to noncontrolling interests	(5,858,000)																	(5,858,000)
Conversion of preferred units	(10,456,000)													(10,456,000)	(10,456,000)
Net loss	(5,734,000)													(11,293,000)	(11,293,000)			5,559,000
Ending Balances at Jun. 30, 2013	$ 2,651,336,000				$ 1,294,000			$ 6,000		$ 1,965,413,000				$ (32,027,000)	$ 1,934,686,000			$ 716,650,000
Ending Balances, shares at Jun. 30, 2013					129,433,425			635,075

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Net loss per share - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013 Class A Common Shares [Member]	Dec. 31, 2012 Class A Common Shares [Member]	Jun. 30, 2013 Class B Common Shares [Member]	Feb. 28, 2013 Class B Common Shares [Member]	Dec. 31, 2012 Class B Common Shares [Member]	Dec. 31, 2012 Formation Transactions [Member] Class A Common Shares [Member]	Dec. 31, 2012 Formation Transactions [Member] Class B Common Shares [Member]
Schedule Of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Common shares issue to sponsor			129,433,425	38,663,998	635,075	634,408	667	3,301,000	667
Total weighted average shares	35,775,468	54,293,266

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Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
Single-family properties:
Land	$ 580,433,000	$ 96,139,000
Buildings and improvements	2,472,921,000	411,706,000
Single-family properties, gross	3,053,354,000	507,845,000
Less: accumulated depreciation	(13,850,000)	(2,132,000)
Single-family properties, net	3,039,504,000	505,713,000
Cash and cash equivalents	251,406,000	397,198,000
Restricted cash for resident security deposits	13,572,000
Rent and other receivables	7,644,000	6,586,000
Escrow deposits, prepaid expenses and other assets	27,936,000	11,961,000
Deferred costs and other intangibles, net	21,978,000
Goodwill	120,655,000
Total assets	3,482,695,000	921,458,000
Liabilities
Credit facility	670,000,000
Accounts payable and accrued expenses	75,318,000	11,282,000
Amounts payable to affiliates	21,160,000	5,012,000
Contingently convertible Series E units liability	64,881,000
Total liabilities	831,359,000	16,294,000
Commitments and contingencies
Shareholders' equity:
Additional paid-in capital	1,965,413,000	914,565,000
Accumulated deficit	(32,027,000)	(10,278,000)
Total shareholders' equity	1,934,686,000	904,674,000
Noncontrolling interest	716,650,000	490,000
Total equity	2,651,336,000	905,164,000
Total liabilities and equity	3,482,695,000	921,458,000
Class A Common Shares [Member]
Shareholders' equity:
Common shares, value	1,294,000	387,000
Class B Common Shares [Member]
Shareholders' equity:
Common shares, value	$ 6,000

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Acquisitions and Dispositions - Additional Information (Detail) (USD $)		1 Months Ended	6 Months Ended	1 Months Ended	6 Months Ended			1 Months Ended
	Jun. 30, 2013	Jun. 10, 2013 Management Internalization [Member]	Jun. 30, 2013 Management Internalization [Member]	Jun. 11, 2013 Alaska Joint Venture Acquisition [Member] Property	Jun. 30, 2013 Alaska Joint Venture Acquisition [Member]	Jun. 11, 2013 Alaska Joint Venture Acquisition [Member] Operating Partnership [Member]	Jun. 10, 2013 Series D Convertible Units [Member] Operating Partnership [Member]	Jun. 10, 2013 Series D Convertible Units [Member] Management Internalization [Member]	Jun. 10, 2013 Series E Convertible Units [Member] Management Internalization [Member]	Jun. 10, 2013 Series D Units [Member] Management Internalization [Member]	Jun. 10, 2013 Series E Units [Member] Management Internalization [Member]	Jun. 10, 2013 Vehicles [Member] Management Internalization [Member] Minimum [Member]	Jun. 10, 2013 Vehicles [Member] Management Internalization [Member] Maximum [Member]
Acquisitions And Dispositions [Line Items]
Acquired of membership interests		100.00%		100.00%
Acquisition date			Jun. 10, 2013		Jun. 11, 2013
Issuance of units								4,375,000	4,375,000
Company's right to receive promoted interests in future outside investment												20.00%	100.00%
Acquisition and renovation fee in percent		5.00%
Monthly maintenance fee		$ 100,000
Fair value of units										65,188,000	64,881,000
Goodwill from acquisition	120,655,000	120,655,000	120,655,000
Estimated net monetary assets		6,979,000			12,995,000
Estimated cash and cash equivalents		8,982,000			22,989,000
Fair value of acquired assets			130,069,000	904,487,000	904,487,000
Issuance of common shares				43,609,394
Issuance of Operating Partnership units						12,395,965	4,375,000
Number of single-family properties in acquired				4,778
Net cash flows produced by Joint Venture				$ 1,896,000	$ 1,896,000
Percentage of properties leased as of acquisition date				75.00%

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Contributions by our Sponsor (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Acquisition

The following table presents the total revenues and net income attributable to the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction that is included in our condensed consolidated statement of operations from the respective transaction dates through June 30, 2013 (in thousands):

	Management Internalization			Alaska Joint Venture  Acquisition			2013 RJ Transaction
	Period from June 10, 2013 to June 30, 2013			Period from June 11, 2013 to June 30, 2013			Period from June 14, 2013  to June 30, 2013
Total revenues	$	239		$	2,871		$	278
Net (loss) / income	$	(2,112	)	$	(280	)	$	4

RJ LLC [Member]

Schedule of Acquisition

The following table summarizes the carrying value and fair value of the Company’s Class B interest in RJ LLC as of June 14, 2013 and the resulting gain on remeasurement of approximately $10.9 million, which has been recognized in the accompanying condensed consolidated statements of operations (in thousands):

Fair value of existing Class B interest	$	7,615
Carrying value of Class B interest		(3,330	)
Gain on remeasurement of equity method investment	$	10,945

Sponsor [Member]

Schedule of Acquisition

The following table summarizes the net assets and historical net loss of the 2,770 single-family properties based on the dates such properties were acquired by our Sponsor through the date of the 2,770 Property Contribution (amounts in thousands, except number of properties):

	Period from June 23, 2011 to December 31, 2012			Period from January 1, 2013 to February 28, 2013			Total as of February 28, 2013 (transaction date)
Number of properties		2,661			109			2,770
Single family properties	$	365,937		$	20,563		$	386,500
Other assets		7,203			(2,086	)		5,117
Other liabilities		(8,183	)		558			(7,625	)
Net assets contributed	$	364,957		$	19,035		$	383,992
Rents from single family properties	$	4,413		$	3,720		$	8,133
Property operating expenses		(3,326	)		(1,920	)		(5,246	)
Depreciation		(2,021	)		(1,324	)		(3,345	)
Allocated general and administrative expenses		(6,996	)		(993	)		(7,989	)
Net loss	$	(7,930	)	$	(517	)	$	(8,447	)
Contributed net assets and net loss	$	372,887		$	19,552		$	392,439

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Significant accounting policies (Policies)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation

The accompanying condensed consolidated financial statements are unaudited and include the accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2012. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the condensed consolidated financial statements for the interim periods have been made. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

There have been no changes to our significant accounting policies that have had a material impact on our condensed consolidated financial statements and related notes and therefore notes to the condensed consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements have been omitted.

Single-family properties

Single-family properties

Transactions in which single-family properties are purchased that are not subject to an existing lease are treated as asset acquisitions, and as such are recorded at their purchase price, including acquisition fees, which is allocated to land and building based upon their relative fair values at the date of acquisition. Single-family properties that are acquired either subject to an existing lease or as part of a portfolio level transaction (see Note 10) are treated as a business combination under Accounting Standards Codification (“ASC”) 805, Business Combinations, and as such are recorded at fair value, allocated to land, building and the existing lease, if applicable, based upon their relative fair values at the date of acquisition, with acquisition fees and other costs expensed as incurred. Fair value is determined based on ASC 820, Fair Value Measurements and Disclosures, primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. The Company engages a third party valuation specialist to assist in the determination of fair value for purposes of allocating the purchase price of properties acquired as part of portfolio level transactions.

The value of acquired lease related intangibles is estimated based upon the costs we would have incurred to lease the property under similar terms. Such costs are capitalized and amortized over the remaining life of the lease. Acquired leases are generally short-term in nature (six months to two years).

Intangible assets

Intangible assets

Intangible assets are amortized on a straight-line basis over the asset’s estimated economic life and will be tested for impairment based on undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. The identified intangible assets acquired as part of the Management Internalization (see Note 10) are being amortized over the following estimated economic lives:

	Amortizable Life
Trademark		4.7 years
Database		7 years

Goodwill

Goodwill

Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired as part of the Management Internalization (see Note 10). Goodwill has an indefinite life and is therefore not amortized. The Company will analyze goodwill for impairment on an annual basis, or if certain events or circumstances occur, pursuant to ASC 350, Intangibles—Goodwill and Other. No impairments have been recorded as of June 30, 2013.

Deferred financing costs

Deferred financing costs

Financing costs related to the origination of the Company’s bridge loan and line of credit are deferred and amortized on an effective interest method, which approximates straight-line basis over the contractual terms of the applicable financings.

Recently issued and adopted accounting standards

Recently issued and adopted accounting standards

In July 2012, the Financial Accounting Standards Board issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment”. The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a “qualitative” assessment to determine whether further impairment testing is necessary. The revised standard allows an entity first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not (that is, a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If it is more likely than not that the asset is impaired, the entity must calculate the fair value of the asset, compare the fair value to its carrying amount, and record an impairment charge, if the carrying amount exceeds fair value. However, if an entity concludes that it is not more likely than not that the asset is impaired, no further action is required. The qualitative assessment is not an accounting policy election. An entity can choose to perform the qualitative assessment on none, some, or all of its indefinite-lived intangible assets. Moreover, an entity can bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test, and then choose to perform the qualitative assessment in any subsequent period. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance did not have a material impact on the Company’s financial position or results of operations.

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Shareholders' equity - Additional Information (Detail)				1 Months Ended			6 Months Ended		1 Months Ended	6 Months Ended				6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013 2013 Offering [Member]	Jun. 30, 2013 2012 Offering [Member]	Aug. 21, 2013 Class A Common Shares [Member] Subsequent Events [Member]	Jun. 30, 2013 Class A Common Shares [Member] Sponsor [Member]	Dec. 31, 2012 Class A Common Shares [Member] Sponsor [Member]	Jun. 30, 2013 Class A Common Shares [Member] 2013 Offering [Member]	Jun. 30, 2012 Class A Common Shares [Member] 2012 Offering [Member]	Aug. 21, 2013 Class A Common Shares [Member] IPO [Member] Subsequent Events [Member]	Jun. 30, 2013 Class B Common Shares [Member] Vote	Jun. 30, 2013 Class B Common Shares [Member] Sponsor [Member]	Jun. 30, 2013 Class A Units [Member] Sponsor [Member]	Dec. 31, 2012 Class A Units [Member] Sponsor [Member]	Jun. 30, 2013 Class A Units [Member] Operating Partnership [Member]	Dec. 31, 2012 Class A Units [Member] Operating Partnership [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Common shares sold							46,718,750	35,360,898
Board of trustees approval extension period	180 days
Percentage of common shares outstanding							75.00%	75.00%
Common shares sold in connection with the IPO				55,422,794					6,617,647
Common stock issued in connection with investment											635,075
Common shares entitled to vote										50
Voting interest		30.00%	30.00%
Percentage of units outstanding					2.90%	8.50%								90.42%	99.92%
Units outstanding												13,787,292	32,668	143,855,792	38,697,333
Stock split conversion ratio														1

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Acquisitions and Dispositions - Carrying Value and Fair Value of Company's Class B Interest and Resulting Gain on Remeasurement (Detail) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Business Acquisition [Line Items]
Gain on remeasurement of equity method investment	$ 10,945,000	$ 10,945,000
RJ LLC [Member]
Business Acquisition [Line Items]
Fair value of existing Class B interest		7,615,000
Carrying value of Class B interest		(3,330,000)
Gain on remeasurement of equity method investment		$ 10,945,000

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Deferred costs and other intangibles - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1,907,000	$ 1,907,000
Amortization of deferred financing costs	$ 666,000	$ 852,000

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Significant accounting policies - Amortization of Intangible Assets Estimated Economic Lives (Detail)	6 Months Ended
	Jun. 30, 2013
Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Life	4 years 8 months 12 days
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Life	7 years

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Single-family properties - Schedule of Single-Family Properties (Detail) (USD $)	Jun. 30, 2013 Property	Dec. 31, 2012 Property
Property Subject to or Available for Operating Lease [Line Items]
Number of properties	18,326	3,644
Net book value	$ 3,039,504,000	$ 505,713,000
Single-Family Properties Being Renovated [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of properties	6,074	1,857
Net book value	960,156,000	261,136,000
Leased Single-Family Properties [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of properties	10,245	1,164
Net book value	1,713,955,000	158,068,000
Vacant Single-Family Properties Available for Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of properties	2,007	623
Net book value	$ 365,393,000	$ 86,509,000

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Accounts payable and accrued expenses

6 Months Ended

Jun. 30, 2013

Payables And Accruals [Abstract]

Accounts payable and accrued expenses

Note 6. Accounts payable and accrued expenses

The following table summarizes accounts payable and accrued expenses as of June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013		December 31, 2012
Accounts payable	$	12,610	$	259
Accrued property taxes		20,163		4,760
Other accrued liabilities		15,999		1,473
Accrued construction liabilities		12,594		3,059
Resident security deposits		13,952		1,731
Total	$	75,318	$	11,282

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Fair Value - Fair Value of Contingently Convertible Series E Units Liability (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]
Contingently convertible Series E units liability	$ 64,881
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]
Contingently convertible Series E units liability
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]
Contingently convertible Series E units liability
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]
Contingently convertible Series E units liability	$ 64,881

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Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Company's Supplemental Consolidated Pro Forma Total Revenues and Net Income

The following table presents the Company’s supplemental consolidated pro forma total revenues and net income as if the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction had occurred on January 1, 2012 (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Pro forma total revenues (1)	$	28,631		$	1,853		$	42,995		$	2,493
Pro forma net loss (1)	$	(20,877	)	$	(4,154	)	$	(26,293	)	$	(5,195	)

(1) This unaudited pro forma supplemental information does not purport to be indicative of what the Company’s operating results would have been had the Management Internalization, Alaska Joint Venture Acquisition, and 2013 RJ Transaction occurred on January 1, 2012.

Management Internalization [Member]

Schedule of Fair Values of Assets Acquired

The following table summarizes the fair values of the assets acquired as part of the Management Internalization as of the date of acquisition (in thousands):

Buildings and improvements	$	4,214
Identified intangible assets:
Trademark		3,100
Database		2,100
Goodwill		120,655
Fair value of acquired assets	$	130,069

Alaska Joint Venture Acquisition [Member]

Schedule of Fair Values of Assets Acquired

The following table summarizes the fair values of the assets acquired as part of the Alaska Joint Venture Acquisition as of the date of acquisition (in thousands):

Land	$	156,648
Building and improvements		740,396
Receivable for net cash flows prior to acquisition date		1,896
In-place lease values		5,547
Fair value of acquired assets	$	904,487

RJ LLC [Member]

Schedule of Fair Values of Assets Acquired

The following table summarizes the fair values of the net assets of RJ LLC, RJ1 and RJ2 that the Company gained control over on June 14, 2013 and the associated 67% noncontrolling interest held by the RJ1 Investors and RJ2 Investors in RJ1 and RJ2, respectively (in thousands):

Land	$	10,340
Building and improvements		54,123
In-place lease values		539
Cash and cash equivalents		1,128
Other current assets and liabilities, net		(311	)
Note payable		(7,600	)
Noncontrolling interest		(39,321	)
Fair value of acquired net assets	$	18,898

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Debt - Amortization of Deferred Financing Costs and Capitalized Interest (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Debt Disclosure [Abstract]
Gross interest	$ 2,028	$ 2,398
Capitalized interest	2,028	2,028
Interest expense		$ 370

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Contributions by our Sponsor

6 Months Ended

Jun. 30, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Contributions by our Sponsor

Note 9. Contributions by our Sponsor

Contribution in connection with 2012 Offering

In connection with the 2012 Offering, on December 31, 2012, our Sponsor made an investment in our Company by contributing 367 single-family properties and $556,000 in cash. The contributed single-family properties were valued at $49,444,000, which approximated the Sponsor’s purchase price plus renovation costs incurred through November 5, 2012, an acquisition fee of 5% (based on the purchase price plus renovations costs through November 5, 2012) and all other out-of-pocket costs anticipated to have been incurred by the Sponsor in connection with the contribution of the properties, including transfer costs, title insurance premiums and legal fees. In connection with this contribution, our Sponsor received 3,300,000 Class A common shares, 667 Class B common shares and 32,667 Class A units (see Note 7). This transaction has been deemed to be between “entities under common control” under the provisions of ASC 805, Business Combinations, and as such, the accounts relating to the properties contributed have been reflected retroactively in the accompanying condensed consolidated financial statements based on the results of operations and net book value recorded by our Sponsor of $47,646,000 as of date of the contribution, without consideration of the acquisition fees. Costs to transfer title to the properties of $455,000 to us were expensed. The contribution agreement was entered into and effective December 31, 2012 and provides that the Sponsor has conveyed all legal and beneficial right, title and interest in the contributed properties on that date.

2,770 Property Contribution

On February 28, 2013, we entered into an agreement with our Sponsor providing for the contribution of 2,770 single-family properties for total consideration of $491,666,000 (the “2,770 Property Contribution”). Our Sponsor had acquired 33 of these properties in 2011, 2,628 in 2012 and 109 in 2013. The consideration to our Sponsor was 31,085,974 Series C convertible units in our Operating Partnership and 634,408 Class B common shares valued at $15.50 per unit/share, which approximates fair value (see Note 7). Because the 2,770 Property Contribution has been deemed to be a transaction between entities under common control, the accounts relating to the properties contributed have been recorded by us as if they had been acquired by us on the dates such properties were acquired by our Sponsor.

The following table summarizes the net assets and historical net loss of the 2,770 single-family properties based on the dates such properties were acquired by our Sponsor through the date of the 2,770 Property Contribution (amounts in thousands, except number of properties):

	Period from June 23, 2011 to December 31, 2012			Period from January 1, 2013 to February 28, 2013			Total as of February 28, 2013 (transaction date)
Number of properties		2,661			109			2,770
Single family properties	$	365,937		$	20,563		$	386,500
Other assets		7,203			(2,086	)		5,117
Other liabilities		(8,183	)		558			(7,625	)
Net assets contributed	$	364,957		$	19,035		$	383,992
Rents from single family properties	$	4,413		$	3,720		$	8,133
Property operating expenses		(3,326	)		(1,920	)		(5,246	)
Depreciation		(2,021	)		(1,324	)		(3,345	)
Allocated general and administrative expenses		(6,996	)		(993	)		(7,989	)
Net loss	$	(7,930	)	$	(517	)	$	(8,447	)
Contributed net assets and net loss	$	372,887		$	19,552		$	392,439

The net assets of the properties and the related historical net loss has been reflected as a credit to additional paid-in capital during the period such properties were acquired by the Sponsor.

Upon consummation of the transaction on February 28, 2013, the total $386,500,000 net asset value of the properties was reclassified from additional paid-in capital in connection with the issuance of $378,770,000 Series C units in our Operating Partnership and $7,730,000 Class B common shares (see Note 7). Additionally, the other net liabilities associated with the properties of $2,508,000 as of February 28, 2013 have been reclassified from additional paid-in capital to due from affiliates, as these amounts will be subsequently settled in cash by the Sponsor.

Pursuant to the agreement, the Sponsor is responsible for all costs of transfer of the properties and for paying costs associated with the completion of initial renovation of the properties after we acquire them. The costs of such improvements for the period from March 1, 2013 to June 30, 2013 were $11,475,000. This amount has been reflected as an addition to the net asset value of the contributed properties, with a corresponding increase of $11,246,000 and $229,000 to the Series C units in our Operating Partnership and Class B common shares, respectively, issued in connection with the 2,770 Property Contribution.

The total reduction to additional paid-in capital of $356,487,000 reflected in the accompanying condensed consolidated statement of equity for the six months ended June 30, 2013 consists of the $386,500,000 reclassification of the net asset value of the 2,770 properties, offset by (i) the $19,552,000 credit associated with the 109 properties acquired by our Sponsor from January 1, 2013 to February 28, 2013, (ii) $7,953,000 in excess of $6,000 par value associated with issuance of the 634,408 Class B common shares and (iii) the $2,508,000 reclassification of the other net liabilities associated with the properties to due from affiliates.

Concurrently with this transaction, commencing February 28, 2013 the Advisor agreed to a permanent reduction in the advisory fee (see Note 8) of $9,800,000 per year.

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Debt

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Debt

Note 5. Debt

Bridge Loan

On February 25, 2013, we entered into a $250 million bridge loan with a financial institution. The bridge loan expired on May 24, 2013, bore interest at a variable rate of London Interbank Offered Rate (“LIBOR”) plus 1.5%, and provided for a $250,000 loan origination fee. The bridge loan was guaranteed by an affiliate of the Sponsor, who was not compensated for providing the guarantee. We borrowed $115,000,000 under this bridge loan through March 14, 2013, when it was paid off.

Credit facility

On March 7, 2013, we entered into a $500 million senior secured revolving credit facility with a financial institution. The amount that may be borrowed under the credit facility will generally be based on the lower of 50% of cost and the value of our qualifying leased and un-leased properties and certain other measures based in part on the net income generated by our qualifying leased and un-leased properties, which is referred to as the “Borrowing Base”. In addition, the credit facility has an accordion feature that allows us to increase the total amount of the credit facility from $500 million up to $1 billion, subject to obtaining lender commitments, paying certain related fees and costs, and satisfying customary closing conditions.

The credit facility is secured by our Operating Partnership’s membership interests in the entities that own all of our single-family properties and requires that we maintain financial covenants relating to the following matters: (i) cash and cash equivalents in an aggregate amount of at least $15 million; (ii) a maximum leverage ratio of 1.0 to 1.0; (iii) debt service coverage ratio of 2.0 to 1.0; and (iv) tangible net worth (as defined) being not less than $1 billion. As of June 30, 2013, the Company was in compliance with all loan covenants under the credit facility.

Borrowings up to $500 million under the credit facility are available through March 7, 2015, which may be extended for an additional year, subject to the satisfaction of certain financial covenant tests. Upon expiration of the $500 million credit facility period, any outstanding borrowings will convert to a term loan for a period of one year. On June 6, 2013, we obtained a temporary increase in our credit facility, allowing us to borrow up to an additional $500 million through December 6, 2013. Borrowings under the temporary increase mature on March 6, 2014. All borrowings under the credit facility bear interest at 30 day LIBOR plus 2.75%. In connection with entering into the credit facility on March 7, 2013, we agreed to pay an initial structuring fee of $5,000,000, payable in 12 monthly installments from the date of the credit facility. Additionally, in connection with obtaining the temporary increase, we paid an administrative fee of $1,250,000. These payments were recorded as deferred financing costs and are being amortized over the term of respective borrowing availability under the credit facility. Starting in December 2013, the credit facility also provides for the payment of an unused commitment fee, payable monthly, initially based on an annual rate of 0.40% of half of the average unused facility amount. As of June 30, 2013, the Company has borrowed a total of $670,000,000, including $170,000,000 under the temporary increase.

The following table outlines our gross interest, including unused commitment and other fees and amortization of deferred financing costs, and capitalized interest for the three and six months ended June 30, 2013 (in thousands):

	Three Months Ended June 30, 2013		Six Months Ended June 30, 2013
Gross interest	$	2,028	$	2,398
Capitalized interest		2,028		2,028
Interest expense	$	—	$	370

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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)

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Acquisitions and Dispositions - Schedule of Fair Values of Assets Acquired (Detail) (USD $)	Jun. 30, 2013	Jun. 30, 2013 Management Internalization [Member]	Jun. 10, 2013 Management Internalization [Member]	Jun. 30, 2013 Management Internalization [Member] Trademark [Member]	Jun. 30, 2013 Management Internalization [Member] Database [Member]	Jun. 30, 2013 Alaska Joint Venture Acquisition [Member]	Jun. 11, 2013 Alaska Joint Venture Acquisition [Member]	Jun. 30, 2013 RJ LLC [Member]
Business Acquisition [Line Items]
Land						$ 156,648,000		$ 10,340,000
Building and improvements		4,214,000				740,396,000		54,123,000
Identified intangible assets				3,100,000	2,100,000
Receivable for net cash flows prior to acquisition date						1,896,000	1,896,000
In-place lease values						5,547,000		539,000
Goodwill	120,655,000	120,655,000	120,655,000
Cash and cash equivalents								1,128,000
Other current assets and liabilities, net								(311,000)
Note payable								(7,600,000)
Fair value of acquired assets		130,069,000				904,487,000	904,487,000
Noncontrolling interest	(39,321,000)							(39,321,000)
Fair value of acquired net assets								$ 18,898,000

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Related Party Transactions - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended		1 Months Ended		3 Months Ended	6 Months Ended		1 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended
	Feb. 28, 2013	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013 Sponsor [Member]	Dec. 31, 2012 Sponsor [Member]	Jun. 30, 2013 Sponsor [Member] Agreement on Investment Opportunities [Member]	Jun. 30, 2013 Sponsor [Member] Agreement on Investment Opportunities [Member]	Dec. 31, 2012 Sponsor [Member] Agreement on Investment Opportunities [Member]	Nov. 30, 2012 Sponsor [Member] Agreement on Investment Opportunities [Member]	Feb. 28, 2013 Advisor [Member]	Nov. 30, 2012 Advisor [Member]	Jun. 30, 2013 Advisor [Member]	Jun. 30, 2013 Advisor [Member]	Dec. 31, 2012 Advisor [Member]	Nov. 30, 2012 Property Manager [Member]	Jun. 30, 2013 Property Manager [Member] Deferred Costs and Other Intangibles [Member]	Jun. 30, 2013 Property Manager [Member] Deferred Costs and Other Intangibles [Member]	Jun. 30, 2013 Property Manager [Member] Operating Expenses [Member]	Jun. 30, 2013 Property Manager [Member] Operating Expenses [Member]	Jun. 30, 2013 Class A Common Shares [Member]	Dec. 31, 2012 Class A Common Shares [Member]	Jun. 30, 2013 Class A Common Shares [Member] Sponsor [Member]	Dec. 31, 2012 Class A Common Shares [Member] Sponsor [Member]	Jun. 30, 2013 Class B Common Shares [Member]	Dec. 31, 2012 Class B Common Shares [Member]	Jun. 30, 2013 Class B Common Shares [Member] Sponsor [Member]	Dec. 31, 2012 Class B Common Shares [Member] Sponsor [Member]	Jun. 30, 2013 Class A Units [Member] Sponsor [Member]	Dec. 31, 2012 Class A Units [Member] Sponsor [Member]	Dec. 31, 2012 3.5% Convertible Perpetual Preferred Units [Member] Sponsor [Member]	Jun. 30, 2013 Series C Convertible Units [Member] Sponsor [Member]	Jun. 30, 2013 Series D Convertible Units [Member] Sponsor [Member]	Jun. 30, 2013 Series E Convertible Units [Member] Sponsor [Member]
Related Party Transaction [Line Items]
Common shares owned																						2.90%	8.50%
Common shares outstanding																				129,433,425	38,663,998			635,075	667	635,075	667
Units outstanding																												13,787,292	32,668		31,085,974	4,375,000	4,375,000
Preferred Units outstanding																														653,492
Equity interest rate				31.60%	17.20%
Advisory management fee in percent											1.75%
Permanent reduction in Advisory management fee	$ 9,800,000									$ 9,800,000	$ 9,800,000
Advisory fees		3,610,000	6,352,000									3,610,000	6,352,000
Accrued management fees														937,000
Property management fee in percent															6.00%
Leasing fee description															One-half month of each lease's annual rent
Fees incurred to the Property Manager																2,461,000	2,888,000	1,061,000	1,264,000
Acquisition and renovation fee in percent									5.00%
Monthly maintenance fee							100,000
Acquisition and renovation fees						44,514,000	72,373,000
Asset acquisition cost						43,189,000	70,053,000
Property acquisition cost						1,325,000	2,320,000
Accrued acquisition and renovation fees							$ 5,082,000	$ 2,811,000

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Organization and operations - Additional Information (Detail) (USD $)					1 Months Ended				6 Months Ended	1 Months Ended
	Jun. 30, 2013 State Property	Dec. 31, 2012 Property	Jun. 10, 2013 Operating Partnership [Member] Series D Convertible Units [Member]	Jun. 10, 2013 Operating Partnership [Member] Series E Convertible Units [Member]	Aug. 21, 2013 Subsequent Events [Member] Class A Common Shares [Member]	Dec. 31, 2012 2012 Offering [Member] Property	Dec. 31, 2012 2012 Offering [Member] Sponsor [Member]	Mar. 31, 2013 2013 Offering [Member]	Jun. 30, 2013 2013 Offering [Member]	Aug. 21, 2013 IPO [Member] Subsequent Events [Member]	Aug. 06, 2013 IPO [Member] Subsequent Events [Member]	Aug. 21, 2013 IPO [Member] Subsequent Events [Member] Class A Common Shares [Member]	Aug. 06, 2013 Private Placement [Member] Subsequent Events [Member]
Schedule Of Description Of Business [Line Items]
Number of properties	18,326	3,644				367
Number of states	21
Proceeds from offering before fees						$ 530,413,000	$ 5,307,000	$ 747,500,000		$ 105,882,000	$ 705,882,000		$ 75,000,000
Fees associated with the sale of stock						40,928,000		44,003,000	44,003,000	5,029,000
Underwriting discounts and offering costs											$ 36,952,000
Option to purchase additional shares in offering					55,422,794							6,617,647
Issuance of units			4,375,000	4,375,000

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Commitments and contingencies - Additional Information (Detail) (USD $)	Jun. 30, 2013 Property	Dec. 31, 2012 Property
Loss Contingencies [Line Items]
Aggregate outstanding commitments	$ 9,382,000	$ 1,694,000
Number of properties	18,326	3,644
Purchase Commitment [Member]
Loss Contingencies [Line Items]
Number of properties	1,152	462
Aggregate purchase price	$ 167,318,000	$ 70,082,000

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Commitments and contingencies

6 Months Ended

Jun. 30, 2013

Commitments And Contingencies Disclosure [Abstract]

Commitments and contingencies

Note 12. Commitments and contingencies

In connection with the renovation of single-family properties after they are purchased, the Company enters into contracts for the necessary improvements. As of June 30, 2013 and December 31, 2012, the Company had aggregate outstanding commitments of $9,382,000 and $1,694,000, respectively, in connection with these contracts.

As of June 30, 2013 and December 31, 2012, we had commitments to acquire 1,152 and 462 single-family properties, respectively, with an aggregate purchase price of $167,318,000 and $70,082,000, respectively.

We are involved in various legal proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position.

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Related Party Transactions

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Note 8. Related party transactions

Equity ownership

As of June 30, 2013 and December 31, 2012, our Sponsor owned approximately 2.9% and 8.5% of our outstanding Class A common shares, respectively. On a fully-diluted basis, the Sponsor held (including consideration of 635,075 and 667 Class B common shares as of June 30, 2013 and December 31, 2012, respectively, 13,787,292 and 32,668 Class A common units as of June 30, 2013 and December 31, 2012, respectively, 653,492 Preferred Units as of December 31, 2012, 31,085,974 Series C convertible units as of June 30, 2013, 4,375,000 Series D units as of June 30, 2013, 4,375,000 Series E units as of June 30, 2013 and common shares issuable upon exercise of the option pursuant to the subscription agreement as of December 31, 2012) (see Note 7), an approximate 31.6% and 17.2% interest at June 30, 2013 and December 31, 2012, respectively.

Advisory Management Agreement

In November 2012, the Company entered into an advisory management agreement with the Advisor under which the Advisor was responsible for designing and implementing our business strategy and administering our business activities and day-to-day operations, subject to the oversight by our board of trustees. For performing these services, we paid the Advisor an advisory management fee equal to 1.75% per year of adjusted shareholders’ equity, as defined, calculated and paid quarterly in arrears. Additionally, concurrently with the 2,770 Property Contribution, commencing February 28, 2013 the Advisor agreed to a permanent reduction in the advisory management fee equal to $9,800,000 per year (see Note 9). Upon completion of the Management Internalization on June 10, 2013 (see Note 10), the Advisor became a wholly-owned subsidiary of our Operating Partnership and accordingly, there will be no future advisory management fees in our condensed consolidated statement of operations.

For the three and six months ended June 30, 2013, advisory management fees incurred to the Advisor prior to the Management Internalization were $3,610,000 and $6,352,000, respectively. As of December 31, 2012, accrued advisory management fees were $937,000, which have been included in amounts payable to affiliates in the accompanying condensed consolidated balance sheets.

Property Management Agreement

In November 2012, the Company entered into a property management agreement with the Property Manager under which the Property Manager generally oversaw and directed the leasing, management and advertising of the properties in our portfolio, including collecting rents and acting as liaison with the tenants. We paid our Property Manager a property management fee equal to 6% of collected rents and a leasing fee equal to one-half month of each lease’s annual rent. Upon completion of the Management Internalization on June 10, 2013 (see Note 10), the Property Manager became a wholly-owned subsidiary of our Operating Partnership and accordingly, there will be no future property management fees in our condensed consolidated statement of operations.

For the three and six months ended June 30, 2013, property management fees incurred to the Property Manager prior to the Management Internalization were $1,061,000 and $1,264,000, respectively, which have been included in property operating expenses in the accompanying condensed consolidated statement of operations. For the three and six months ended June 30, 2013, leasing fees incurred to the Property Manager prior to the Management Internalization were $2,461,000 and $2,888,000, respectively, which have been included in deferred costs and other intangibles, net in the accompanying condensed consolidated balance sheets.

Agreement on Investment Opportunities

In November 2012, the Company entered into an “Agreement on Investment Opportunities” with the Sponsor under which we pay an acquisition and renovation fee equal to 5% of all costs and expenses we incur in connection with the initial acquisition, repair and renovation of single-family properties (net of any broker fees received by the Property Manager) for its services in identifying, evaluating, acquiring and overseeing the renovation of the properties we purchase. In connection with the Management Internalization on June 10, 2013 (see Note 10), we entered into an Amended and Restated Agreement on Investment Opportunities. Under the amended and restated agreement, on December 10, 2014, the Sponsor will cease providing acquisition and renovation services for us and we will cease paying the acquisition fee. No termination or other fee will be due on December 10, 2014 in connection with the termination of the Sponsor providing such services. On September 10, 2014, we will have the right to offer employment, that would commence on December 10, 2014, to all of the Sponsor’s acquisition and renovation personnel necessary for our operations. Additionally, the Sponsor is required to pay the Company a monthly fee of $100,000 through December 10, 2014 for maintenance and use of certain intellectual property transferred to us in the Management Internalization, which is included in other revenue in the accompanying condensed consolidated statements of operations (see Note 10).

During the three and six months ended June 30, 2013, we incurred $44,514,000 and $72,373,000 in aggregate acquisition and renovation fees to the Sponsor under the terms of this agreement, $43,189,000 and $70,053,000 of which has been capitalized related to asset acquisitions and included in the cost of the single-family properties, and $1,325,000 and $2,320,000 has been expensed related to property acquisitions with in-place leases, respectively. As of June 30, 2013 and December 31, 2012, accrued and unpaid acquisition and renovation fees were $5,082,000 and $2,811,000, respectively, which have been included in the amounts payable to affiliates in the accompanying condensed consolidated balance sheet.

Insurance

Prior to the Management Internalization on June 10, 2013, a component of the Company’s property insurance coverage for our single-family properties was provided through a “captive” insurance program organized by affiliates of the Sponsor. In connection with the Management Internalization, we cancelled our insurance with the captive insurance company, which eliminated annual premiums payable to the captive insurance company and resulted in us self-insuring this component of our property insurance going forward.

Insurance expense paid to affiliates of the Sponsor prior to the Management Internalization was $387,000 and $630,000 during the three and six months ended June 30, 2013, respectively. Such insurance expense is included in property operating expenses in the accompanying condensed consolidated statement of operations.

Employee Administration Agreement

In connection with the Management Internalization on June 10, 2013 (see Note 10), we entered into an employee administration agreement with Malibu Management, Inc. (“MMI”), an affiliate of the Sponsor, to obtain the exclusive services of personnel of the Advisor and the Property Manager, who were previously employees of MMI under the direction of the Sponsor. Under terms of the agreement, we obtained the exclusive service of the employees dedicated to us for all management and other personnel dedicated to our business and are able to direct MMI to implement employment decisions with respect to the employees dedicated to us. We are required to reimburse MMI for all compensation and benefits and costs associated with the employees dedicated to us. We do not pay any fee or any other form of compensation to MMI. Total compensation and benefit costs passed through to us under the agreement for the period from June 10, 2013 through June 30, 2013 totaled $1,224,000, which has been included in amounts payable to affiliates.

Allocated General and Administrative Expenses

The Company received an allocation of general and administrative expenses from the Sponsor that were either clearly applicable to or were reasonably allocated to the operations of the properties contributed by our Sponsor (see Note 9). Allocated general and administrative expenses from the Sponsor were $0 and $1,483,000 for the three months ended June 30, 2013 and 2012, respectively, and $993,000 and $1,653,000 for the six months ended June 30 2013, and 2012, respectively, and have been included in general and administrative expense in the accompanying condensed consolidated statements of operations.

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Subsequent events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent events

Note 15. Subsequent events

Subsequent acquisitions

During July 2013, we acquired 1,499 properties with an aggregate purchase price of $208,762,000 compared to 1,872 properties with an aggregate purchase price of $272,091,000 during June 2013. In August 2013, our pace of acquisitions is expected to decline further. The slowing in our pace of acquisitions is the result of our effort to match our capital investments with our capital raising activities. We expect that our level of acquisition activity will fluctuate based on the number of suitable investments and on the level of funds available for investment.

Initial Public Offering and Concurrent Private Placements

On August 6, 2013, the Company raised $705,882,000 before aggregate underwriting discounts and offering costs of $36,952,000 in an IPO. Concurrently with the IPO, the Company raised an additional $75,000,000 in the 2013 Concurrent Private Placements at the IPO price of $16.00 per share and without payment of any underwriting discount or placement fee. On August 21, 2013, the Company raised $105,882,000 before aggregate underwriting discounts of $5,029,000 by issuing an additional 6,617,647 Class A common shares in connection with the IPO underwriters’ exercise in full of their option to purchase additional shares.

Borrowings on Credit Facility

From July 1, 2013 through August 6, 2013, the Company borrowed an additional $170,000,000 under the credit facility (see Note 5). On August 6, 2013, the loan had an outstanding balance of $840,000,000, and was paid down by $716,000,000 from the proceeds of our IPO. Upon the occurrence of this paydown, maximum borrowings under this loan were reduced to $500,000,000. On August 21, 2013 and August 22, 2013, the Company made additional payments on the credit facility totaling $90,000,000 using proceeds of the IPO underwriters’ exercise in full of their option to purchase additional shares. After the additional payments totaling $90,000,000, the credit facility had an outstanding balance of $34,000,000.

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Noncash transactions

6 Months Ended

Jun. 30, 2013

Nonmonetary Transactions [Abstract]

Noncash transactions

Note 13. Noncash transactions

On February 28, 2013, our Sponsor contributed 2,770 single-family properties to the Company with a net carrying cost of $386,500,000 in exchange for 31,085,974 Series C convertible units in our Operating partnership and 634,408 Class B common shares (see Note 9).

On June 10, 2013, we acquired the Advisor and Property Manager from the Sponsor in exchange for 4,375,000 Series D units and 4,375,000 Series E units in the Operating Partnership (see Note 10).

On June 11, 2013, we acquired the Alaska Joint Venture from APFC and the Sponsor in exchange for 43,609,394 Class A common shares in the Company and 12,395,965 Class A units in the Operating Partnership (see Note 10).

On June 14, 2013, the Sponsor contributed its remaining ownership interest in RJ LLC to the Company, 653,492 Preferred Units held by the Sponsor were converted into 653,492 Class A units and the Company issued 705,167 additional Class A units to the Sponsor (see Note 10).

XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2013	Aug. 22, 2013 Class A Common Shares [Member]	Aug. 22, 2013 Class B Common Shares [Member]
Document Information [Line Items]
Document Type	10-Q/A
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2
Trading Symbol	AMH
Entity Registrant Name	AMERICAN HOMES 4 RENT
Entity Central Index Key	0001562401
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		184,856,219	635,075

XML

Fair Value

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value

Note 14. Fair Value

Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

• Level 1—Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets;

• Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and

• Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The carrying amount of rents and other receivables, restricted cash for resident security deposits, escrow deposits, prepaid expenses, accounts payable and accrued expenses and amounts payable to affiliates approximate fair value because of the short maturity of these amounts.

As the Company’s credit facility bears variable interest at 30 day LIBOR plus 2.75% and was recently entered into on March 7, 2013 (see Note 5), management believes the carrying value of the credit facility as of June 30, 2013 reasonably approximates fair value, which has been estimated by discounting future cash flows at market rates (Level 2).

The Company’s contingently convertible series E units liability (see Note 10) is the only financial instrument recorded at fair value on a recurring basis within our consolidated financial statements and is valued using a Monte Carlo Simulation model. A Monte Carlo simulation is incorporated given that the value of the securities is path dependent, meaning that their value depends on the average of a sequence of the prices of the underlying asset over some predetermined period of time. Inputs to the model include a risk-free rate corresponding to the assumed timing of the conversion date and a volatility input based on the historical volatilities of selected peer group companies. The starting point for the simulation is the most recent trading price in the Company’s Class A common shares, into which the Series E units are ultimately convertible. The timing of such conversion is based on the provisions of the contribution agreement and the Company’s best estimate of the events that trigger such conversions. The following table sets forth the fair value of the contingently convertible series E units liability as of June 30, 2013 (in thousands):

			June 30, 2013
Description	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Contingently convertible Series E units liability	$	64,881	$	—	$	—	$	64,881

Changes in inputs or assumptions used in the Monte Carlo simulation used to value the contingently convertible Series E units liability may have a material impact on the resulting valuation. There were no changes in fair value of the Series E units liability between June 10, 2013 (date of issuance) and June 30, 2013.

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Fair Value - Additional Information (Detail) (Revolving Credit Facility [Member])	6 Months Ended
	Jun. 30, 2013
Revolving Credit Facility [Member]
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items]
Debt instrument variable interest rate, description	30 day LIBOR
Debt instrument variable interest rate	2.75%

XML

Noncash transactions - Additional Information (Detail) (USD $)										1 Months Ended			1 Months Ended
	Jun. 14, 2013	Feb. 28, 2013	Jun. 11, 2013 Alaska Joint Venture Acquisition [Member] Operating Partnership [Member]	Feb. 28, 2013 Series C convertible units [Member] Operating Partnership [Member]	Jun. 30, 2013 Class B Common Shares [Member]	Feb. 28, 2013 Class B Common Shares [Member]	Dec. 31, 2012 Class B Common Shares [Member]	Jun. 10, 2013 Series D Convertible Units [Member] Operating Partnership [Member]	Jun. 10, 2013 Series E Convertible Units [Member] Operating Partnership [Member]	Jun. 14, 2013 Class A Common Shares [Member]	Jun. 30, 2013 Class A Common Shares [Member]	Dec. 31, 2012 Class A Common Shares [Member]	Jun. 14, 2012 Class A Common Shares [Member] Operating Partnership [Member]	Jun. 11, 2013 Class A Common Shares [Member] Alaska Joint Venture Acquisition [Member]	Jun. 11, 2013 Class A Units [Member] Alaska Joint Venture Acquisition [Member] Operating Partnership [Member]
Nonmonetary Transaction [Line Items]
Net carrying cost		$ 386,500,000
Units outstanding				31,085,974
Common shares issued					635,075	634,408	667				129,433,425	38,663,998
Issuance of units			12,395,965					4,375,000	4,375,000						12,395,965
Acquisition of Joint Venture														43,609,394
Preferred Units issued	653,492
Conversion to Class A units										653,492			653,492
Additional units issued										705,167