Transactions with Related Parties

12 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

Transactions with Related Parties

15.Transactions with Related Parties

The Company leases its corporate headquarters from an entity affiliated with EQR’s Chairman of the Board of Trustees. The lease term expires on November 30, 2032 and contains two five-year extension options. The amount incurred for such office space for the years ended December 31, 2022, 2021 and 2020 were approximately $1.7 million, $1.7 million and $2.1 million, respectively. The Company believes these amounts approximate market rates for such rental space.