Leases |
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| Leases | 7. Leases Lessor Accounting The Company is the lessor for its residential and non-residential leases and these leases are accounted for as operating leases under the lease standard. The following table presents the lease income types relating to total lease revenue along with the total other rental income for the six months ended June 30, 2026 and 2025 (amounts in thousands):
(1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt, service fees, pet rent and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard and primarily consists of third-party transient parking revenue, termination settlement income and ancillary income such as cable and laundry revenue and renters insurance. The following table presents the lease income types relating to total lease revenue along with the total other rental income for the quarters ended June 30, 2026 and 2025 (amounts in thousands):
(1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt, service fees, pet rent and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard and primarily consists of third-party transient parking revenue, termination settlement income and ancillary income such as cable and laundry revenue and renters insurance. |
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