Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:

Asset Class	Useful Lives
Buildings	25 - 30 years
Information systems	Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment	3 - 7 years
Model and sales office improvements	Lesser of estimated useful life of the asset or estimated life of the community
Leasehold improvements	Lesser of the lease term or the estimated useful life of the asset

The following table presents our property and equipment as of September 30, 2019 and September 30, 2018:

in thousands	September 30, 2019			September 30, 2018
Model furnishings and sales office improvements	$	21,114		$	28,311
Information systems	15,045			13,183
Furniture, fixtures and office equipment	10,068			9,332
Leasehold improvements	5,136			4,388
Buildings and improvements	1,671			—
Property and equipment, gross	53,034			55,214
Less: Accumulated Depreciation	(25,613		)	(34,371		)
Property and equipment, net	$	27,421		$	20,843