Leases (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income

The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the six months ended June 30, 2021 and 2020 (amounts in thousands):

	Six Months Ended June 30, 2021								Six Months Ended June 30, 2020
Income Type	Residential Leases			Non-Residential Leases		Total			Residential Leases			Non-Residential Leases			Total
Residential and non-residential rent	$	1,078,304		$	31,237	$	1,109,541		$	1,207,106		$	30,221		$	1,237,327
Utility recoveries (RUBS income) (1)		36,533			330		36,863			35,232			375			35,607
Parking rent		19,890			362		20,252			19,460			223			19,683
Other lease revenue (2)		(18,970	)		1,138		(17,832	)		(6,273	)		(1,231	)		(7,504	)
Total lease revenue	$	1,115,757		$	33,067		1,148,824		$	1,255,525		$	29,588			1,285,113
Parking revenue							11,572									11,312
Other revenue							35,265									39,412
Total other rental income (3)							46,837									50,724
Rental income						$	1,195,661								$	1,335,837

(1)	RUBS income primarily consists of variable payments representing the recovery of utility costs from residents.

(2)	Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue.

(3)	Other rental income is accounted for under the revenue recognition standard.

The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended June 30, 2021 and 2020 (amounts in thousands):

	Quarter Ended June 30, 2021								Quarter Ended June 30, 2020
Income Type	Residential Leases			Non-Residential Leases		Total			Residential Leases			Non-Residential Leases			Total
Residential and non-residential rent	$	538,649		$	15,398	$	554,047		$	594,626		$	12,127		$	606,753
Utility recoveries (RUBS income) (1)		18,579			152		18,731			17,814			147			17,961
Parking rent		10,156			95		10,251			9,627			126			9,753
Other lease revenue (2)		(8,708	)		529		(8,179	)		(6,060	)		(951	)		(7,011	)
Total lease revenue	$	558,676		$	16,174		574,850		$	616,007		$	11,449			627,456
Parking revenue							6,139									4,529
Other revenue							17,070									21,547
Total other rental income (3)							23,209									26,076
Rental income						$	598,059								$	653,532

(1)	RUBS income primarily consists of variable payments representing the recovery of utility costs from residents.

(2)	Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue.

(3)	Other rental income is accounted for under the revenue recognition standard.

Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances

The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of June 30, 2021 and December 31, 2020 (amounts in thousands):

	Residential							Non-Residential
Balance Sheet (Other assets):	June 30, 2021				December 31, 2020			June 30, 2021			December 31, 2020
Resident/tenant accounts receivable balances	$	43,415			$	30,856		$	6,122		$	7,598
Allowance for doubtful accounts		(39,014	)			(24,021	)		(5,232	)		(6,527	)
Net receivable balances	$	4,401		(1)	$	6,835		$	890		$	1,071

Straight-line receivable balances	$	20,487			$	19,992		$	12,801		$	13,413

(1)	The Company held residential security deposits approximating 48.7% of the net receivable balance at June 30, 2021.

Summary of Residential Bad Debt for Company's Properties

The following table presents residential bad debt for the Company’s properties for the six months and quarters ended June 30, 2021 and 2020 (amounts in thousands):

	Six Months Ended June 30,						Quarter Ended June 30,
Income Statement (Rental income):		2021			2020			2021			2020
Bad debt, net	$	25,772		$	13,348		$	12,079		$	9,564
% of rental income		2.2	%		1.0	%		2.1	%		1.5	%