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Revenues
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregated Revenue

The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands):
 Three Months Ended March 31,
 20242023
Rental income$417,236 $404,635 
Other property6,979 5,021 
Management and other fees from affiliates2,713 2,765 
Total revenues$426,928 $412,421 

The following table presents the Company’s rental and other property revenues disaggregated by geographic operating segment ($ in thousands):
 Three Months Ended March 31,
 20242023
Southern California$176,002 $166,877 
Northern California168,839 163,728 
Seattle Metro71,913 70,038 
Other real estate assets (1)
7,461 9,013 
Total rental and other property revenues$424,215 $409,656 
(1) Other real estate assets consist of revenues generated from retail space, commercial properties, held for sale properties, disposition properties and straight-line rent adjustments for concessions. Executive management does not evaluate such operating performance geographically.

The following table presents the Company’s rental and other property revenues disaggregated by current property category status ($ in thousands):
 Three Months Ended March 31,
 20242023
Same-property (1)
$409,819 $395,520 
Acquisitions (2)
1,598 — 
Redevelopment1,541 1,537 
Non-residential/other, net (3)
11,320 12,023 
Straight line rent concession (4)
(63)576 
Total rental and other property revenues$424,215 $409,656 

(1) Same-property includes properties that have comparable stabilized results as of January 1, 2023 and are consolidated by the Company for the three months ended March 31, 2024 and 2023. A community is considered to have reached stabilized operations once it achieves an initial occupancy of 90%.
(2) Acquisitions include properties acquired which did not have comparable stabilized results as of January 1, 2023.
(3) Non-residential/other, net consists of revenues generated from retail space, commercial properties, held for sale properties, disposition properties, student housing, properties undergoing significant construction activities that do not
meet our redevelopment criteria, and two communities located in the California counties of Santa Barbara and Santa Cruz, which the Company does not consider its core markets.
(4) Represents straight-line concessions for residential operating communities. Same-property revenues reflect concessions on a cash basis. Total rental and other property revenues reflect concessions on a straight-line basis in accordance with U.S. GAAP.

Deferred Revenues and Remaining Performance Obligations

When cash payments are received or due in advance of the Company’s performance of contracts with customers, deferred revenue is recorded. The total deferred revenue balance related to such contracts was $0.8 million and $1.0 million as of March 31, 2024 and December 31, 2023, respectively, and was included in accounts payable and accrued liabilities within the accompanying condensed consolidated balance sheets. The amount of revenue recognized for the three months ended March 31, 2024 that was included in the December 31, 2023 deferred revenue balance was $0.2 million, which was included in rental and other property revenue within the condensed consolidated statements of income and comprehensive income.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the revenue recognition accounting standard. As of March 31, 2024, the Company had $0.8 million of remaining performance obligations. The Company expects to recognize approximately 61% of these remaining performance obligations in 2024, an additional 32% through 2026, and the remaining balance thereafter.