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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Reconciliation of Preferred OP Units The following table presents a rollforward of the AIR Operating Partnership’s preferred OP Units (in thousands):

Balance at December 31, 2020

 

$

79,449

 

Preferred distributions

 

 

(4,810

)

Redemption of preferred units

 

 

(72

)

Net income

 

 

4,810

 

Balance at September 30, 2021

 

$

79,377

 
Lease Income for Operating Leases Our total lease income, included in continuing operations, was comprised of the following amounts for all operating leases (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Fixed lease income

 

$

176,388

 

 

$

165,559

 

 

$

505,400

 

 

$

514,640

 

Variable lease income

 

 

12,953

 

 

 

11,995

 

 

 

34,589

 

 

 

32,829

 

Straight-line rent write-off (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,850

)

   Total lease income

 

$

189,341

 

 

$

177,554

 

 

$

539,989

 

 

$

544,619

 

 

(1)
We monitor the collectability of all unpaid rent amounts. The onset of COVID-19 and the anticipated economic slowdown resulted in a $2.9 million write-off of accrued straight-line rent during the nine months ended September 30, 2020.