Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2020

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, 2020 and September 30, 2019:

in thousands	September 30, 2020		September 30, 2019
Model furnishings and sales office improvements	$	17,604	$	21,114
Information systems	14,930		15,045
Furniture, fixtures and office equipment	10,287		10,068
Leasehold improvements	4,959		5,136
Buildings and improvements	1,671		1,671
Property and equipment, gross	49,451		53,034
Less: Accumulated depreciation	(27,171)		(25,613)
Property and equipment, net	$	22,280	$	27,421