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Lease Revenue
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Lease Revenue Lease Revenue
We lease our multifamily properties and commercial properties under agreements that are classified as operating leases. Our multifamily leases generally include minimum rents and charges for ancillary services. Our commercial property leases generally included minimum rents and recoveries for property taxes and common area maintenance. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases.
The following table summarizes the components of rental revenue for the years ended December 31, 2023, 2022 and 2021:

For the Year Ended
December 31,
202320222021
Fixed component$45,466 $32,163 $35,555 
Variable component1,557 1,917 2,253 
Total rental revenue$47,023 $34,080 $37,808 

The following table summarizes the future rental payments to us from under non-cancelable leases, which excludes multifamily properties, which typically have lease terms of one-year or less:

YearAmount
2024$11,500 
202511,094 
202610,718 
202710,356 
20289,936 
Thereafter18,327 
Total
$71,931