v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases Leases
Tenant Lessor Arrangements
The majority of lease payments we receive from our residents are fixed. We receive variable payments from our residents primarily for utility reimbursements. Our total lease income was comprised of the following amounts for all operating leases (in thousands):
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Fixed lease income$180,686 $182,206 $365,935 $361,565 
Variable lease income14,410 14,496 27,931 27,322 
Total lease income$195,096 $196,702 $393,866 $388,887 
Generally, our residential leases do not provide extension options and, as of June 30, 2025, have an average remaining term of 8.9 months. In general, our commercial leases have options to extend for a certain period of time at the tenant’s option. As of June 30, 2025, future minimum annual rental payments we are contractually obligated to receive under residential and commercial leases, excluding such extension options, are as follows (in thousands):
2025 (remaining)
$280,169 
2026282,195 
202749,515 
202812,655 
20299,672 
Thereafter27,282 
Total$661,488