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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Lease Commitments
The following table sets forth our fixed lease payment commitments as a lessee as of December 31, 2023, for the periods below:
YearOperating
Leases		Finance
Leases
2024$4,543 $1,706 
20253,228 877 
20261,916 908 
20271,341 638 
2028661 9 
Thereafter158 — 
Total lease payments11,847 4,138 
Less: imputed interest(750)(342)
Total lease liability$11,097 $3,796 
The components of lease expense for the years ended December 31, 2023, 2022, and 2021 are as follows:
For the Years Ended December 31,
202320222021
Operating lease cost:
Fixed lease cost$3,317 $3,284 $3,970 
Variable lease cost1,5151,498 1,239 
Total operating lease cost$4,832 $4,782 $5,209 
Finance lease cost:
Amortization of ROU assets$2,790 $2,676 $2,825 
Interest on lease liabilities375234 279 
Total finance lease cost$3,165 $2,910 $3,104 
New-Build Commitments
We have entered into binding purchase agreements with certain homebuilders for the purchase of 1,789 homes over the next four years. Estimated remaining commitments under these agreements total approximately $630,000 as of December 31, 2023.
Insurance Policies
Pursuant to the terms of certain of our loan agreements (see Note 7), 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, 2023, 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 as well as congressional and regulatory inquiries and engagements. 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.