Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Note 14—Commitments and Contingencies

Leasing Commitments

The following table sets forth our fixed lease payment commitments as a lessee as of December 31, 2019, for the periods below:



	Operating Leases			Finance Leases
2020	$	4,501		$	646
2021	4,271			569
2022	2,713			43
2023	1,565			—
2024	1,409			—
Thereafter	463			—
Total lease payments	14,922			1,258
Less: imputed interest	(1,135		)	(48		)
Total lease liability	$	13,787		$	1,210

As of December 31, 2019, approximately $10,000 of finance leases for fleet vehicles with a lease term of 50 months have been entered into and are anticipated to commence during the next three months, and approximately $3,100 of operating leases for our office spaces with lease terms of 60 to 72 months have been entered into and are anticipated to commence during the next 12 months.

The components of lease expense for the year ended December 31, 2019 are as follows:



	For the Year Ended December 31, 2019
Operating lease cost:
Fixed lease cost	$	4,059
Variable lease cost	1,294
Total operating lease cost	$	5,353

Future minimum rental revenues under leases existing on our single-family residential properties as of December 31, 2019 are as follows:



	Lease Payments to be Received
2020	$	952,132
2021	148,775
2022	—
2023	—
2024	—
Thereafter	—
Total	$	1,100,907

During the years ended December 31, 2018 and 2017, we incurred rent and other related occupancy expenses of $6,306 and $5,203, respectively. In accordance with previously applicable lease accounting guidance, ASC 840, Leases, the following table displays annual base rental commitments associated with our operating lease commitments, excluding operating expense reimbursements, month-to-month lease payments, and other related fees and expenses during the remaining lease terms as of December 31, 2018:



Year	Payments
2019	$	4,251
2020	4,463
2021	4,237
2022	2,747
2023	1,583
Thereafter	1,803
Total	$	19,084

Insurance Policies

Pursuant to the terms of certain of our loan agreements (see Note 6), laws and regulations of the jurisdictions in which our properties are located, and general business practices, we are required to procure insurance on our properties. As of December 31, 2019, there are no material contingent liabilities related to uninsured losses with respect to our properties.

Legal Matters

We are subject to various legal proceedings and claims that arise in the ordinary course of our business. We accrue a liability when we believe that it is both probable that a liability has been incurred and that we can reasonably estimate the amount of the loss. We do not believe that the final outcome of these proceedings or matters will have a material adverse effect on our consolidated financial statements.