Revenue Recognition We are the lessor for its residential and commercial leases and these leases will continue to be accounted for as operating leases under the new standard as described in Note 2. Therefore, the Company did not have significant changes in the accounting for its lease revenues. As of March 31, 2019, we derived 79% of our revenues from residential leases that are generally for terms of one year or less. The residential leases may include lease income related to such items as parking, storage and pet rent that we treat as a single lease component because the amenities cannot be leased on their own and the timing and pattern of revenue recognition are the same. The collection of lease payments at lease commencement is probable and therefore we subsequently recognize lease income over the lease term on a straight-line basis. Residential leases are renewable upon consent of both parties on an annual or monthly basis. As of March 31, 2019, we derived 21% of our revenues from commercial leases primarily under long-term lease agreements. We elected to apply the package of practical expedients for the commercial leases and these leases will continue to be accounted for as operating leases as of January 1, 2019. Substantially all commercial leases contain fixed escalations or, in some instances, changes based on the Consumer Price Index, which occur at specified times during the term of the lease. In certain commercial leases, variable lease income, such as percentage rent, is recognized when rents are earned. We recognize rental income and rental abatements from our commercial leases when earned on a straight-line basis over the lease term. Recognition of rental income commences when control of the leased space has been transferred to the tenant. We recognize variable income from pass-through expenses on an accrual basis over the periods in which the expenses were incurred. Pass-through expenses are comprised of real estate taxes, operating expenses and common area maintenance costs which are reimbursed by tenants in accordance with specific allowable costs per tenant lease agreements. When we pay pass-through expenses, subject to reimbursement by the tenant, they are included within Operating expenses, excluding real estate taxes and Real estate taxes, and reimbursements are included within Real estate rental income along with the associated base rent in the accompanying consolidated financial statements. We record base rents for residntial and commercial leases on a straight-line basis. The monthly base rent income according to the terms of our leases is adjusted so that an average monthly rent is recorded for each tenant over the term of its lease. The straight-line rent adjustment increased revenue by $103 and $52 the three months ended March 31, 2019 and 2018, respectively. The straight-line receivable balance included in receivables on the consolidated balance sheets as of March 31, 2019 and December 31, 2018 was $3,478 and $3,374, respectively. We receive payments for expense reimbursements from substantially all our multi-tenant commercial tenants throughout the year based on estimates. Differences between estimated recoveries and the final billed amounts, which generally are immaterial, are recognized in the subsequent year. Upon adoption of ASU 2016-02, we elected not to bifurcate lease contracts into lease and non-lease components, since the timing and pattern of revenue is not materially different and the non-lease components is not the primary component of the lease. Accordingly, both lease and non-lease components are presented in Real estate rental income in our consolidated financial statements. The adoption of ASU 2016-02 did not result in a material change to our recognition of real estate rental income. Lease income related to the Companys operation leases is comprised of the following: Three months ended March 31, 2019 Residential Commercial Total (in thousands) Lease income related to fixed lease payments $ 22,797 $ 4,777 $ 27,574 Lease income related to variable lease payments  1,487 1,487 Other (a) (217) 117 (100) Lease income (b) $ 22,580 $ 6,381 $ 28,961 (a) For the three months ended March 31, 2019, Other is comprised of revenue adjustments related to changes in collectibility and amortization of above and below market lease intangibles and lease inducements. (b) Excludes other rental income for the three months ended March 31, 2019 of $870, which is accounted for under the revenue recognition standard. As of March 31, 2019, non-cancelable commercial operating leases provide for future minimum rental income as follows (in thousands). Apartment leases are not included as the terms are generally for one year or less. Years ending December 31, Amount (in thousands) 2019 (April 1, 2019 to December 31, 2019) $ 13,723 2020 18,133 2021 14,433 2022 10,846 2023 9,259 Thereafter 51,794 $ 118,188