Property and Equipment |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment | PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands):
During the year ended December 31, 2023, we transferred $13.5 million of home assets from real estate inventory to rental properties within property and equipment, net. We are lessors of the homes representing these home assets. Our leasing contracts are typically for terms of one year. Depreciation expense incurred for the years ended December 31, 2023, 2022 and 2021 was $2.4 million, $1.6 million and $1.1 million, respectively.
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