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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2016	Jul. 25, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Trading Symbol	ELS
Entity Registrant Name	EQUITY LIFESTYLE PROPERTIES INC
Entity Central Index Key	0000895417
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		85,296,903

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment in real estate:
Land	$ 1,142,651	$ 1,101,676
Land improvements	2,867,006	2,787,882
Buildings and other depreciable property	608,204	588,041
Investment in real estate	4,617,861	4,477,599
Accumulated depreciation	(1,339,298)	(1,282,423)
Net investment in real estate	3,278,563	3,195,176
Cash	74,871	80,258
Notes receivable, net	33,837	35,463
Investment in unconsolidated joint ventures	23,223	17,741
Deferred commission expense	31,084	30,865
Escrow deposits, goodwill, and other assets, net	43,997	40,897
Total Assets	3,485,575	3,400,400
Liabilities:
Mortgage notes payable	1,915,834	1,926,880
Term loan	199,276	199,172
Unsecured lines of credit	0	0
Accrued expenses and accounts payable	79,418	76,044
Deferred revenue – upfront payments from right-to-use contracts	79,505	78,405
Deferred revenue – right-to-use annual payments	13,017	9,878
Accrued interest payable	8,488	8,715
Rents and other customer payments received in advance and security deposits	84,821	74,300
Distributions payable	39,300	34,315
Total Liabilities	2,419,659	2,407,709
Stockholders’ Equity:
Preferred stock value	0	0
Common stock, $0.01 par value	852	843
Paid-in capital	1,094,152	1,039,140
Distributions in excess of accumulated earnings	(236,623)	(250,506)
Accumulated other comprehensive loss	(1,197)	(553)
Total Stockholders’ Equity	993,328	925,068
Non-controlling interests – Common OP Units	72,588	67,623
Total Equity	1,065,916	992,691
Total Liabilities and Equity	3,485,575	3,400,400
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Stockholders’ Equity:
Preferred stock value	$ 136,144	$ 136,144

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred Stock, Par or Stated Value Per Share (usd per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	9,945,539	9,945,539
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share (usd per share)		$ 0.01
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	85,295,182	84,296,350
Common Stock, Shares, Outstanding	85,295,182	84,296,350
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Preferred Stock, Par or Stated Value Per Share (usd per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	54,461	54,461
Preferred Stock, Shares Issued	54,458	54,458
Preferred Stock, Shares Outstanding	54,458	54,458

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Community base rental income	$ 115,385	$ 110,073	$ 229,461	$ 219,343
Rental home income	3,543	3,559	7,088	7,113
Resort base rental income	44,732	41,427	100,166	93,072
Right-to-use annual payments	11,187	10,945	22,241	21,926
Right-to-use contracts current period, gross	3,086	3,578	5,618	6,375
Right-to-use contract upfront payments, deferred, net	(798)	(1,455)	(1,100)	(2,228)
Utility and other income	19,523	18,901	40,316	37,983
Gross revenues from home sales	9,130	9,526	17,344	16,463
Brokered resale revenues and ancillary services revenues, net	398	1,012	1,816	2,994
Interest income	1,625	1,736	3,285	3,556
Income from other investments, net	2,270	2,178	3,993	3,297
Total revenues	210,081	201,480	430,228	409,894
Expenses:
Property operating and maintenance	66,647	64,178	129,601	125,295
Rental home operating and maintenance	1,581	1,689	3,106	3,358
Real estate taxes	12,869	12,652	26,067	25,246
Sales and marketing, gross	2,931	3,512	5,424	6,034
Right-to-use contract commissions, deferred, net	(116)	(764)	(12)	(1,007)
Property management	12,044	11,099	23,807	22,389
Depreciation on real estate assets and rental homes	29,029	28,335	57,684	56,451
Amortization of in-place leases	428	669	763	1,334
Cost of home sales	9,481	9,093	17,762	15,817
Home selling expenses	805	720	1,639	1,525
General and administrative	8,255	7,541	15,663	14,947
Property rights initiatives and other	527	694	1,181	1,247
Early debt retirement	0	(69)	0	16,922
Interest and related amortization	25,561	26,145	51,195	53,421
Total expenses	170,042	165,494	333,880	342,979
Income before equity in income of unconsolidated joint ventures	40,039	35,986	96,348	66,915
Equity in income of unconsolidated joint ventures	765	840	1,646	1,724
Consolidated net income	40,804	36,826	97,994	68,639
Income allocated to non-controlling interests – Common OP Units	(2,998)	(2,724)	(7,308)	(5,054)
Net income available for Common Stockholders	35,490	31,786	86,073	58,972
Other comprehensive (loss) income (“OCI”):
Adjustment for fair market value of swap	(36)	204	(644)	(653)
Consolidated comprehensive income	40,768	37,030	97,350	67,986
Comprehensive income attributable to Common Stockholders	$ 35,457	$ 31,974	$ 85,480	$ 58,370
Earnings per Common Share – Basic:
Net income available for Common Shares (usd per share)	$ 0.42	$ 0.38	$ 1.02	$ 0.70
Earnings per Common Share - Fully Diluted:
Net income available for Common Shares (usd per share)	0.42	0.38	1.01	0.70
Distributions declared per Common Share outstanding (usd per share)	$ 0.425	$ 0.375	$ 0.85	$ 0.75
Weighted average Common Shares outstanding – basic (shares)	84,516	84,031	84,419	83,996
Weighted average Common Shares outstanding – fully diluted (shares)	92,264	91,851	92,163	91,829
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Expenses:
Series C Redeemable Perpetual Preferred Stock Dividends	$ (2,316)	$ (2,316)	$ (4,613)	$ (4,613)
Non- controlling interests – Common OP Units
Other comprehensive (loss) income (“OCI”):
Comprehensive income allocated to non-controlling interests – Common OP Units	$ (2,995)	$ (2,740)	$ (7,257)	$ (5,003)

Consolidated Statements of Changes In Equity - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	6.75% Series C Cumulative Redeemable Perpetual Preferred Stock	Distributions in Excess of Accumulated Earnings	Non- controlling interests – Common OP Units	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2015	$ 992,691	$ 843	$ 1,039,140	$ 136,144	$ (250,506)	$ 67,623	$ (553)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Common OP Units to Common Stock			38			(38)
Issuance of Common Stock through exercise of options	5,232	2	5,230
Issuance of Common Stock through employee stock purchase plan	275		275
Issuance of Common Stock	50,000	7	49,993
Compensation expenses related to restricted stock	4,393		4,393
Repurchase of Common Stock or Common OP units	(274)		(274)
Adjustment for Common OP Unitholders in the Operating Partnership	0		(3,820)			3,820
Adjustment for fair market value of swap	(644)						(644)
Net income	97,995			4,614	86,073	7,308
Distributions	(82,929)			(4,614)	(72,190)	(6,125)
Other	(823)		(823)
Balance at Jun. 30, 2016	$ 1,065,916	$ 852	$ 1,094,152	$ 136,144	$ (236,623)	$ 72,588	$ (1,197)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows From Operating Activities:
Consolidated net income	$ 97,994	$ 68,639
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Early debt retirement	0	16,922
Depreciation	58,242	56,989
Amortization of in-place leases	763	1,334
Amortization of loan costs	1,876	2,103
Debt premium amortization	(1,730)	(2,094)
Equity in income of unconsolidated joint ventures	(1,646)	(1,724)
Distributions of income from unconsolidated joint ventures	1,041	1,161
Amortization of stock-related compensation	4,393	3,960
Revenue recognized from right-to-use contract upfront payments	(4,518)	(4,147)
Commission expense recognized related to right-to-use contracts	2,019	1,696
Long term incentive plan compensation	(3,852)	657
Recovery of uncollectible rents receivable	(679)	(344)
Changes in assets and liabilities:
Notes receivable activity, net	361	(101)
Deferred commission expense	(2,238)	(3,067)
Escrow deposits, goodwill and other assets	13,137	27,540
Accrued expenses and accounts payable	2,453	18,475
Deferred revenue – upfront payments from right-to-use contracts	5,618	6,375
Deferred revenue – right-to-use annual payments	3,139	3,492
Rents received in advance and security deposits	10,434	12,080
Net cash provided by operating activities	186,807	209,946
Cash Flows From Investing Activities:
Real estate acquisition	(76,203)	(23,687)
Investment in unconsolidated joint ventures	(5,000)	(4,000)
Repayments of notes receivable	5,176	5,366
Issuance of notes receivable	(4,356)	(4,035)
Capital improvements	(55,707)	(42,259)
Net cash used in investing activities	(136,090)	(68,615)
Cash Flows From Financing Activities:
Proceeds from stock options and employee stock purchase plan	5,233	4,252
Gross proceeds from sale of Common Stock	50,000
Distributions:
Common Stockholders	(67,565)	(58,862)
Common OP Unitholders	(5,766)	(5,057)
Preferred Stockholders	(4,613)	(4,613)
Principal payments and mortgage debt payoff	(32,564)	(437,279)
New mortgage notes payable financing proceeds	0	395,323
Debt issuance and defeasance costs	(5)	(23,541)
Other	(824)	(323)
Net cash used in financing activities	(56,104)	(130,100)
Net (decrease) increase in cash and cash equivalents	(5,387)	11,231
Cash, beginning of period	80,258	73,714
Cash, end of period	74,871	84,945
Supplemental Information:
Cash paid during the period for interest	53,121	54,330
Capital improvements – used homes acquired by repossessions	445	443
Net repayments of notes receivable – used homes acquired by repossessions	(445)	(443)
Building and other depreciable property – reclassification of rental homes	15,986	14,046
Escrow deposits and other assets – reclassification of rental homes	(15,986)	(14,046)
Real estate acquisitions:
Investment in real estate	(100,148)	(23,900)
Escrow deposits and other assets	(20)	(53)
Debt assumed and financed on acquisition	22,010	0
Accrued expenses and accounts payable	1,955	62
Rents and other customer payments received in advance and security deposits	0	204
Real estate acquisition	$ (76,203)	$ (23,687)

Definition of Terms	6 Months Ended
Definition of Terms	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Definition of Terms	Definition of Terms Equity LifeStyle Properties, Inc., a Maryland corporation, together with MHC Operating Limited Partnership (the “Operating Partnership”) and other consolidated subsidiaries (“Subsidiaries”) are referred to herein as “we,” “us,” and “our.” Capitalized terms used but not defined herein are as defined in our Annual Report on Form 10-K (“2015 Form 10-K”) for the year ended December 31, 2015.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


(a)	Basis of Presentation and Principles of Consolidation

We follow accounting standards set by the Financial Accounting Standards Board, commonly referred to as the “FASB.” The FASB sets generally accepted accounting principles (“GAAP”), which we follow to ensure that we consistently report our financial condition, results of operations and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (the “Codification”).

These unaudited Consolidated Financial Statements have been prepared pursuant to Securities and Exchange Commission (“SEC”) rules and regulations. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the financial statements and notes thereto included in the 2015 Form 10-K. The following notes to the Consolidated Financial Statements highlight significant changes to the notes included in the 2015 Form 10-K and present interim disclosures as required by the SEC. The accompanying Consolidated Financial Statements reflect, in the opinion of management, all adjustments and estimates necessary for a fair presentation of the interim financial statements, which are of a normal, recurring nature. Revenues are subject to seasonal fluctuations and accordingly, quarterly interim results may not be indicative of full year results.

The accompanying Consolidated Financial Statements include the consolidation of our accounts. We do not have controlling interests in any of our joint ventures (“JV”), which are therefore treated under the equity method of accounting and not consolidated in our financial statements. The holders of limited partnership interests in the Operating Partnership (“Common OP Unitholders”) receive an allocation of net income that is based on their respective ownership percentage of the Operating Partnership which is shown in our Consolidated Financial Statements as Non-controlling interests-Common OP Units. All significant intercompany balances and transactions have been eliminated in consolidation.

Effective January 1, 2016, we adopted (“ASU 2015-02”) Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 required us to evaluate whether we should consolidate certain legal entities. Principally, the new consolidation standard modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIE") or voting interest entities. Based on our review and subsequent analysis of the structure of our legal entities, we concluded that the Operating Partnership is a VIE because the limited partners of the Operating Partnership do not have substantive kick-out or participating rights. We are the general partner and controlling owner of approximately 92.2% of the Operating Partnership and we will continue to consolidate the Operating Partnership under this new guidance. With respect to our investment in unconsolidated joint ventures, the new consolidation standard did not have an impact on our previous consolidation conclusions.

Effective January 1, 2016, we adopted (“ASU 2015-03”) Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs and (“ASU 2015-15”) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. ASU 2015-03 requires that debt issuance costs be deducted from the carrying value of the financial liability and not recorded as separate assets, previously classified as deferred financing costs. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03. ASU 2015-15 states that presentation of costs associated with securing a revolving line of credit as an asset is permitted, regardless of whether a balance is outstanding. ASU 2015-03 and 2015-15 require retrospective adoption and as a result we reclassified deferred financing costs on our Consolidated Balance Sheets as of December 31, 2015, as presented herein (See Note 7 to the Consolidated Financial Statements for further details).


(b)	Identified Intangibles and Goodwill

As of June 30, 2016 and December 31, 2015, the gross carrying amount of identified intangible assets and goodwill, a component of escrow deposits, goodwill and other assets, net on our consolidated balance sheets, was approximately $12.1 million. As of June 30, 2016 and December 31, 2015, this amount was comprised of approximately $4.3 million of identified intangible assets and approximately $7.8 million of goodwill. Accumulated amortization of identified intangible assets was approximately $2.7 million and $2.6 million as of June 30, 2016 and December 31, 2015, respectively. For the quarters and six months ended June 30, 2016 and 2015, amortization expense for the identified intangible assets was approximately $0.1 million.


(c)	Restricted Cash

Our cash balance as of June 30, 2016 and December 31, 2015 included approximately $5.3 million and $5.0 million respectively, of restricted cash for the payment of capital improvements, insurance or real estate taxes.


(d)	Fair Value of Financial Instruments

Our financial instruments include notes receivable, accounts receivable, accounts payable, other accrued expenses, interest rate swaps and mortgage notes payable. We disclose the estimated fair value of our financial instruments according to a fair value hierarchy (Level 1, 2 and 3).

Our mortgage notes payable and term loan, excluding deferred financing costs of approximately $18.9 million and $19.7 million, respectively, had a carrying value of approximately $2.1 billion as of June 30, 2016 and December 31, 2015, and a fair value of approximately $2.2 billion as of June 30, 2016 and December 31, 2015, respectively. The fair value is measured using quoted prices and observable inputs from similar liabilities (Level 2). At June 30, 2016 and December 31, 2015, our cash flow hedge of interest rate risk included in accrued expenses and accounts payable was measured using quoted prices and observable inputs from similar assets and liabilities (Level 2). We consider our own credit risk as well as the credit risk of our counterparties when evaluating the fair value of our derivative. The fair values of our notes receivable approximate their carrying or contract values. We also utilize Level 2 and Level 3 inputs as part of our determination of the purchase price allocation for our acquisitions, as discussed in Note 4 to the Consolidated Financial Statements.


(e)	Deferred Financing Costs, net

Deferred financing costs includes fees and costs incurred to obtain long-term financing and are amortized over the terms of the respective loans on a basis that approximates level yield. Unamortized deferred financing fees are written-off when debt is retired before the maturity date. Upon amendment of the line of credit or refinancing of mortgage debt, unamortized deferred financing fees are accounted for in accordance with Codification Sub-Topic Modifications and Extinguishments (“FASB ASC 470-50-40”). Accumulated amortization for such costs was $35.6 million and $33.7 million at June 30, 2016 and December 31, 2015, respectively.


(f)	Recent Accounting Pronouncements

In June 2016, the FASB issued (“ASU 2016-13”) Financial Instruments - Credit Losses (Topic 326). ASU 2016-13 requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 will be effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently in the process of evaluating the potential impact, if any, that adoption of this standard may have on our consolidated financial statements and related disclosures.

In February 2016, the FASB issued ("ASU 2016-02") Leases. ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the potential impact this standard may have on our consolidated financial statements and related disclosures.

In May 2014, the FASB issued ("ASU 2014-09") Revenue from Contracts with Customers which along with related subsequent amendments will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 does not apply to lease contracts accounted for under ASC 840, Leases. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB deferred the effective date by one year for annual reporting periods beginning after December 15, 2017. The FASB will permit early adoption of the standard, but not before the original effective date of December 15, 2016. We are currently in the process of evaluating the impact that adoption of the standard will have on our consolidated financial statements and related disclosures.

Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Common Share

The following table sets forth the computation of the basic and diluted earnings per Common Share for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands, except per share data):



	Quarters Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Numerators:
Net Income Available for Common Stockholders:
Net income available for Common Stockholders – basic	$	35,490	$	31,786	$	86,073	$	58,972
Amounts allocated to dilutive securities	2,998		2,724		7,308		5,054
Net income available for Common Stockholders – fully diluted	$	38,488	$	34,510	$	93,381	$	64,026
Denominator:
Weighted average Common Shares outstanding – basic	84,516		84,031		84,419		83,996
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares	7,205		7,221		7,206		7,223
Stock options and restricted shares	543		599		538		610
Weighted average Common Shares outstanding – fully diluted	92,264		91,851		92,163		91,829

Earnings per Common Share – Basic:
Net income available for Common Stockholders	$	0.42	$	0.38	$	1.02	$	0.70

Earnings per Common Share – Fully Diluted:
Net income available for Common Stockholders	$	0.42	$	0.38	$	1.01	$	0.70

Common Stock and Other Equity Related Transactions

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Common Stock and Other Equity Related Transactions

The following regular quarterly distributions have been declared on our depositary shares (each representing 1/100 of a share of our Series C Preferred Stock) and paid to our preferred shareholders for the six months ended June 30, 2016:



Distribution Amount Per Share	For the Quarter Ending	Stockholder Record Date	Payment Date
$0.421875	March 31, 2016	March 21, 2016	March 31, 2016
$0.421875	June 30, 2016	June 17, 2016	June 30, 2016

The following regular quarterly distributions have been declared and paid to common stockholders and common OP Unit non-controlling interest holders for the six months ended June 30, 2016:



Distribution Amount Per Share	For the Quarter Ending	Stockholder Record Date	Payment Date
$0.425	March 31, 2016	March 25, 2016	April 8, 2016
$0.425	June 30, 2016	June 24, 2016	July 8, 2016

On May 4, 2015, we extended our at-the-market (“ATM”) offering program by entering into new separate equity distribution agreements with certain sales agents, pursuant to which we may sell, from time-to-time, shares of our Common Stock, par value $0.01 per share, having an aggregate offering price of up to $125.0 million. The following table presents the shares that were issued under the ATM equity offering program during the six months ended June 30, 2016 (amounts in thousands, except stock data):



	Six Months Ended June 30, 2016
Shares of Common Stock sold	683,548
Weighted average price	$	73.15
Total gross proceeds	$	50,000
Commissions paid to sales agents	$	657

We did not sell any shares under the ATM offering program for the comparable six month period in 2015. As June 30, 2016, approximately $75.0 million of Common Stock remained available for issuance under this ATM equity offering program.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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+ Details

Investment in Real Estate

6 Months Ended

Jun. 30, 2016

Real Estate [Abstract]

Investment in Real Estate

Acquisitions

All acquisitions have been accounted for utilizing the acquisition method of accounting in accordance with FASB ASC 805 and, accordingly, the results of operations of acquired assets are included in the Consolidated Statements of Income and Comprehensive Income from the dates of acquisition. Certain purchase price adjustments may be made within one year following the acquisition and applied prospectively in accordance with ASU 2015-16 Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.

On June 15, 2016, we completed the acquisition of Forest Lake Estates, a 1,168-Site property located in Zephryhills, Florida. This property consists of 894 manufactured home community Sites and 274 RV resort Sites. The purchase price of $75.2 million was funded with proceeds from the ATM offering program and the assumption of mortgage debt of approximately $22.6 million.

On May 26, 2016, we closed on the acquisition of Portland Fairview, a 407-Site RV resort located in Fairview, Oregon. The purchase price of approximately $17.6 million was funded with available cash.

On January 27, 2016, we completed the acquisition of Rose Bay, a 303-Site RV resort, located in Port Orange, Florida. The total purchase price of approximately $7.4 million was funded with available cash.

During the year ended December 31, 2015, we acquired two RV resorts, Whispering Pines and Miami Everglades, collectively containing 581 Sites, and one manufactured home community, Bogue Pines, containing 150 Sites. The combined purchase price of approximately $23.9 million was funded with available cash.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in the acquisitions for the six months ended June 30, 2016 and the year ended December 31, 2015, which we determined using Level-2, for mortgage notes payable and other liabilities, and Level-3 inputs (amounts in thousands):



	Six Months Ended		Year Ended
	June 30, 2016		December 31, 2015
Assets acquired
Land	$	40,975	$	8,985
Buildings and other depreciable property	58,676		13,948
Manufactured homes	22		345
In-place leases	475		622
Net investment in real estate	100,148		23,900
Other assets	20		53
Total Assets acquired	$	100,168	$	23,953

Liabilities assumed
Mortgage notes payable	$	22,010	$	—
Other liabilities	1,955		266
Total Liabilities assumed	$	23,965	$	266
Net assets acquired	$	76,203	$	23,687

Dispositions and real estate held for disposition

As of June 30, 2016, we did not have any Properties designated as held for disposition pursuant to FASB ASC 360-10-35.

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References + Details

Investment in Unconsolidated Joint Ventures

6 Months Ended

Jun. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

We recorded approximately $1.6 million and $1.7 million (each net of approximately $0.6 million and $0.5 million of depreciation expense, for the six months ended June 30, 2016 and 2015, respectively) of equity in income from unconsolidated joint ventures for each of the six months ended June 30, 2016 and 2015, respectively. We received approximately $1.0 million and $1.2 million in distributions from these joint ventures for the six months ended June 30, 2016 and 2015, respectively.

On January 4, 2016, we contributed approximately $5.0 million to the ECHO Financing, LLC joint venture (the "ECHO JV") which brought our total investment to approximately $15.4 million.

The following table summarizes our investment in unconsolidated joint ventures as of June 30, 2016 and December 31, 2015 (investment amounts in thousands with the number of Properties shown parenthetically):



						Investment as of				JV Income (loss) for the Six Months Ended
Investment	Location	Number of Sites	Economic Interest ^(a)			June 30, 2016		December 31, 2015		June 30, 2016			June 30, 2015
Meadows	Various (2,2)	1,077	50	%		$	139	$	162	$	577		$	742
Lakeshore	Florida (2,2)	342	65	%		50		46		160			177
Voyager	Arizona (1,1)	1,706	50	%	^(b)	7,676		7,166		917			740
ECHO JV	Various	—	50	%		15,358		10,367		(8		)	65
		3,125				$	23,223	$	17,741	$	1,646		$	1,724

_____________________


(a)	The percentages shown approximate our economic interest as of June 30, 2016. Our legal ownership interest may differ.


(b)	Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing the Property.

Notes Receivable	6 Months Ended
Notes Receivable	Jun. 30, 2016
Receivables [Abstract]
Notes Receivable	Notes Receivable In certain cases, we purchase loans made by others to finance the sales of homes to our customers (“Chattel Loans”). Our Chattel Loans receivable require monthly principal and interest payments and are collateralized by homes at certain of the Properties. As of June 30, 2016 and December 31, 2015, we had approximately $16.6 million and $17.6 million, respectively, of these Chattel Loans included in notes receivable. As of June 30, 2016, the Chattel Loans receivable had a stated per annum average rate of approximately 7.8%, with a yield of 19.7%, and had an average term remaining of approximately 11 years. These Chattel Loans are recorded net of allowances of approximately $0.3 million as of June 30, 2016 and December 31, 2015, respectively. We also provide financing for non-refundable upgrades to existing right-to-use contracts (“Contracts Receivable”). As of June 30, 2016 and December 31, 2015, we had approximately $17.2 million and $17.8 million, respectively, of Contracts Receivable, net of allowances of approximately $0.6 million. The Contracts Receivable have an average stated interest rate of 16.1% per annum, have a weighted average term remaining of approximately four years and require monthly payments of principal and interest.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Borrowing Arrangements	6 Months Ended
Borrowing Arrangements	Jun. 30, 2016
Debt Disclosure [Abstract]
Borrowing Arrangements	Borrowing Arrangements With the adoption of ASU 2015-03 and ASU 2015-15, we reclassified deferred financing costs to mortgage notes payable in the amount of $18.9 million as of December 31, 2015. In addition, we reclassified deferred financing costs to term loan in the amount of $0.8 million as of December 31, 2015. Also, we reclassified deferred financing costs related to our unsecured line of credit to Escrow deposits, goodwill, and other assets, net in the amount of $3.7 million as of December 31, 2015. Mortgage Notes Payable As of June 30, 2016 and December 31, 2015, we had outstanding mortgage indebtedness of approximately $1.9 billion, excluding deferred financing costs. The weighted average interest rate, including the impact of premium/discount amortization and loan cost amortization on this mortgage indebtedness, for the six months ended June 30, 2016 was approximately 4.9% per annum. The debt bears interest at stated rates ranging from 3.5% to 8.9% per annum and matures on various dates ranging from 2016 to 2040. The debt encumbered a total of 126 and 127 of our Properties as of June 30, 2016 and December 31, 2015, respectively, and the carrying value of such Properties was approximately $2.3 billion and $2.2 billion, respectively, as of such dates. In connection with the Forest Lake Estates acquisition, we assumed approximately $22.6 million of mortgage debt secured by the manufactured home community, with a stated interest rate of 4.51% per annum, which is set to mature in 2038. During the six months ended June 30, 2016, we paid off two maturing mortgage loans of approximately $13.1 million, with a weighted average interest rate of 5.53% per annum, secured by two manufactured home Properties. On July 1, 2016, we paid off two maturing mortgage loans of approximately $23.9 million in the aggregate, with weighted average interest rate of 5.99%, secured by one RV resort and one manufactured home Property. During the year ended December 31, 2015, we closed on loans with total gross proceeds of $395.3 million. The loans have a weighted average maturity of 21 years, carry a weighted average interest rate of 3.93% per annum and were secured by 26 manufactured home Properties and RV resorts. Proceeds from the financings were used to retire by defeasance and prepayment approximately $370.2 million of loans maturing at various times throughout 2015 and 2016, with a weighted average interest rate of 5.58% per annum, which were secured by 32 manufactured home Properties and RV resorts. We incurred approximately $17.0 million in early debt retirement expense related to these loans. Term Loan As of June 30, 2016 and December 31, 2015, our $200.0 million unsecured Term Loan (the “Term Loan”) matures on January 10, 2020 and has an interest rate of LIBOR plus 1.35% to 1.95% per annum and, subject to certain conditions, may be prepaid at any time without premium or penalty. The spread over LIBOR is variable quarterly based on leverage measured quarterly throughout the loan term. The Term Loan contains customary representations, warranties, and negative and affirmative covenants, and provides for acceleration of principal and payment of all other amounts payable thereunder upon the occurrence of certain events of default. In connection with the Term Loan, we also entered into a three year LIBOR Swap Agreement (the “2014 Swap”) allowing us to trade the variable interest rate for a fixed interest rate on the Term Loan (See Note 8 to the Consolidated Financial Statements for further information on the accounting for the 2014 Swap). Unsecured Line of Credit As of June 30, 2016 and December 31, 2015, our unsecured Line of Credit (“LOC”) had a borrowing capacity of $400.0 million, with the option to increase the borrowing capacity by $100.0 million, subject to certain conditions, with no amounts outstanding as of those dates. The LOC bears interest at a rate of LIBOR plus 1.20% to 1.65%, requires an annual facility fee of 0.20% to 0.35% and matures on July 17, 2018, with an option to extend for one additional year, subject to certain conditions. The spread over LIBOR is variable quarterly based on leverage throughout the loan term. As of June 30, 2016, we are in compliance in all material respects with the covenants in our borrowing arrangements.

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Cash Flow Hedges of Interest Rate Risk

In connection with our Term Loan, we entered into the 2014 Swap (see Note 7 to the Consolidated Financial Statements for information about the Term Loan related to the 2014 Swap) allowing us to trade the variable interest rate for a fixed interest rate on the Term Loan. The 2014 Swap fixes the underlying LIBOR rate on the Term Loan at 1.04% per annum for the first three years and matures on August 1, 2017. Based on the leverage as of June 30, 2016, our spread over LIBOR is 1.35% resulting in an estimated all-in interest rate of 2.39% per annum.

We have designated the 2014 Swap as a cash flow hedge. No gain or loss was recognized in the Consolidated Statements of Income and Comprehensive Income related to hedge ineffectiveness or to amounts excluded from effectiveness testing on our cash flow hedge during the quarters and six months ended June 30, 2016 and 2015.

Amounts reported in accumulated other comprehensive loss on the Consolidated Balance Sheets related to derivatives are reclassified to interest expense as interest payments are made on our variable-rate debt. During the next twelve months, we estimate that an additional $1.1 million will be reclassified as an increase to interest expense. This estimate may be subject to change as the underlying LIBOR rate changes.

Derivative Instruments and Hedging Activities

The table below presents the fair value of our derivative financial instrument as well as our classification on our Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015 (amounts in thousands):



Derivatives in Cash Flow Hedging Relationship	Balance Sheet Location	June 30, 2016		December 31, 2015
Interest Rate Swap	Accrued expenses and accounts payable	$	1,197	$	553

Tabular Disclosure of the Effect of Derivative Instruments on the Income Statement

The tables below present the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income for the quarters ended June 30, 2016 and 2015 (amounts in thousands):



Derivatives in Cash Flow Hedging Relationship	Amount of loss recognized in OCI on derivative				Location of loss reclassified from accumulated OCI into income	Amount of loss reclassified from accumulated OCI into income
Derivatives in Cash Flow Hedging Relationship	June 30, 2016		June 30, 2015			June 30, 2016		June 30, 2015
Interest Rate Swap	$	338	$	230	Interest Expense	$	302	$	434

The tables below present the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income for the six months ended June 30, 2016 and 2015 (amounts in thousands):



Derivatives in Cash Flow Hedging Relationship	Amount of loss recognized in OCI on derivative				Location of loss reclassified from accumulated OCI into income	Amount of loss reclassified from accumulated OCI into income
Derivatives in Cash Flow Hedging Relationship	June 30, 2016		June 30, 2015			June 30, 2016		June 30, 2015
Interest Rate Swap	$	1,258	$	1,522	Interest Expense	$	614	$	869

We determined that no adjustment was necessary for non-performance risk on our derivative obligation. As of June 30, 2016, we have not posted any collateral related to this agreement.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SX 210.4-08.(n))
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+ Details

Deferred Revenue-Right-to-use contracts and Deferred commission expense

6 Months Ended

Jun. 30, 2016

Deferred Revenue Disclosure [Abstract]

Deferred Revenue-entry of right-to-use contracts and Deferred Commission Expense

As of June 30, 2016 and 2015, the components of the change in deferred revenue-entry of right-to-use contracts and deferred commission expense are as follows (amounts in thousands):



	Six Months Ended June 30,
	2016			2015
Deferred revenue–upfront payments from right-to-use contracts, as of January 1,	$	78,405		$	74,174
Right-to-use contracts current period, gross	5,618			6,375
Revenue recognized from right-to-use contract upfront payments	(4,518		)	(4,147		)
Right-to-use contract upfront payments, deferred, net	1,100			2,228
Deferred revenue–upfront payments from right-to-use contracts, as of June 30,	$	79,505		$	76,402

Deferred commission expense, as of January 1,	$	30,865		$	28,589
Deferred commission expense	2,238			3,067
Commission expense recognized	(2,019		)	(1,696		)
Net increase in deferred commission expense	219			1,371
Deferred commission expense, as of June 30,	$	31,084		$	29,960

Equity Incentive Awards	6 Months Ended
Equity Incentive Awards	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Awards	Equity Incentive Awards Stock-based compensation expense, reported in general and administrative on the Consolidated Statements of Income and Comprehensive Income, for the quarters ended June 30, 2016 and 2015 was approximately $2.5 million and $2.2 million, respectively, and for the six months ended June 30, 2016 and 2015 was approximately $4.4 million and $4.0 million, respectively. Our 2014 Equity Incentive Plan (the “2014 Plan”) was adopted by our Board of Directors on March 11, 2014 and approved by our stockholders on May 13, 2014. Pursuant to the 2014 Plan, our officers, directors, employees and consultants may be awarded (i) shares of common stock (“Restricted Stock Grants”), (ii) options to acquire shares of common stock (“Options”), including non-qualified stock options and incentive stock options within the meaning of Section 422 of the Internal Revenue Code, and (iii) other forms of equity awards, subject to conditions and restrictions determined by the Compensation, Nominating, and Corporate Governance Committee of our Board of Directors (the “Compensation Committee”). The Compensation Committee will determine the vesting schedule, if any, of each Restricted Stock Grant or Option and the term of each Option, which term shall not exceed ten years from the date of grant. Shares that do not vest are forfeited. Dividends paid on restricted stock are not returnable, even if the underlying stock does not entirely vest. A maximum of 3,750,000 shares of common stock were originally available for grant under the 2014 Plan. As of June 30, 2016, 3,264,282 shares remained available for grant. For the six months ended June 30, 2016, Options for 220,000 shares of common stock were exercised for gross proceeds of approximately $5.2 million. Grants under the 2014 Plan are approved by the Compensation Committee, which determines the individuals eligible to receive awards, the types of awards, and the terms, conditions and restrictions applicable to any award, except grants to directors which are approved by the Board of Directors. Grants Issued On May 10, 2016, we awarded Restricted Stock Grants for 14,705 shares of common stock at a fair market value of approximately $1.1 million and awarded Options to purchase 7,550 shares of common stock with an exercise price of $74.53 per share to certain members of our Board of Directors.The shares of common stock covered by these awards are subject to multiple tranches that vest as soon as November 10, 2016 and as late as May 10, 2019. On February 1, 2016, we awarded Restricted Stock Grants for 73,000 shares of common stock at a fair market value of approximately $4.9 million to certain members of our senior management for their service in 2016. These Restricted Stock Grants will vest on December 31, 2016. On February 1, 2016, we awarded Restricted Stock Grants for 45,784 shares of common stock at a fair market value of approximately $3.1 million to certain members of our Board of Directors for their services as Chairman of the Board, Chairman of the Compensation Committee and Lead Director, Chairman of the Executive Committee and Chairman of the Audit Committee in 2016. One-third of the shares of restricted common stock covered by these awards will vest on each of December 31, 2016, December 31, 2017, and December 31, 2018. The fair market value of our restricted stock grants was determined by using the closing share price of our common stock on the date the shares were issued and is recorded as compensation expense and paid in capital over the vesting period.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Long-Term Cash Incentive Plan	6 Months Ended
Long-Term Cash Incentive Plan	Jun. 30, 2016
Cash incentive Program Disclosure [Abstract]
Long-Term Cash Incentive Plan	Long-Term Cash Incentive Plan On February 12, 2016, our Compensation Committee approved a Long-Term Cash Incentive Plan Award (the "2016 LTIP") to provide a long-term cash bonus opportunity to certain members of our management. The 2016 LTIP was approved by the Compensation Committee pursuant to the authority set forth in the Long Term Cash Incentive Plan approved by our Board of Directors on May 15, 2007. The total cumulative payment for all participants (the "Eligible Payment") is based upon certain performance conditions being met over a three year period ending December 31, 2018. The Compensation Committee has responsibility for administering the 2016 LTIP and may use its reasonable discretion to adjust the performance criteria or Eligible Payments to take into account the impact of any major or unforeseen transaction or event. Our named executive officers are not participants in the 2016 LTIP. The Eligible Payment will be paid, at the discretion of our Compensation Committee, in cash upon completion of our annual audit for the 2018 fiscal year and upon satisfaction of the vesting conditions as outlined in the 2016 LTIP and, including employer costs, is currently estimated to be approximately $5.6 million. As of June 30, 2016, we had accrued compensation expense of approximately $1.0 million for the 2016 LTIP. The amount accrued for the 2016 LTIP reflects our evaluation of the 2016 LTIP based on forecasts and other available information and is subject to performance in line with forecasts and final evaluation and determination by the Compensation Committee. There can be no assurances that our estimates of the probable outcome will be representative of the actual outcome.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies California Rent Control Litigation As part of our effort to realize the value of our Properties subject to rent control, we previously initiated lawsuits against certain localities in California with the goal of achieving a level of regulatory fairness in California's rent control jurisdictions, and in particular those jurisdictions that prohibit increasing rents to market upon turnover. Such regulations allow tenants to sell their homes for a price that includes a premium above the intrinsic value of the homes. The premium represents the value of the future discounted rent-controlled rents, which is fully capitalized into the prices of the homes sold. In our view, such regulations result in a transfer to the tenants of the value of our land, which would otherwise be reflected in market rents. We have discovered through the litigation process that certain municipalities considered condemning our Properties at values well below the value of the underlying land. In our view, a failure to articulate market rents for Sites governed by restrictive rent control would put us at risk for condemnation or eminent domain proceedings based on artificially reduced rents. Such a physical taking, should it occur, could represent substantial lost value to stockholders. We are cognizant of the need for affordable housing in the jurisdictions, but assert that restrictive rent regulation does not promote this purpose because tenants pay to their sellers as part of the purchase price of the home all the future rent savings that are expected to result from the rent control regulations, eliminating any supposed improvement in the affordability of housing. In a more well-balanced regulatory environment, we would receive market rents that would eliminate the price premium for homes, which would trade at or near their intrinsic value. Such efforts have included the following matters: We sued the City of San Rafael on October 13, 2000 in the U.S. District Court for the Northern District of California, challenging its rent control ordinance on constitutional grounds. While the trial court found the rent control ordinance unconstitutional, the United States Court of Appeals for the Ninth Circuit reversed the trial court and ruled that the ordinance had not unconstitutionally taken our property. On September 3, 2013, we filed a petition for review by the U.S. Supreme Court, which was denied. On January 31, 2012, we sued the City of Santee in the United States District for the Southern District of California challenging its rent control ordinance on constitutional grounds. On September 26, 2013, we entered a settlement agreement with the City pursuant to which we are able to increase Site rents at the Meadowbrook community through January 1, 2034 as follows: (a) a one-time 2.5% rent increase on all Sites in January 2014; plus (b) annual rent increases of 100% of the consumer price index (CPI) beginning in 2014; and (c) a 10% increase in the rent on a site upon turnover of that site. Absent the settlement, the rent control ordinance limited us to annual rent increases of at most 70% of CPI with no increases on turnover of a site. Colony Park On December 1, 2006, a group of tenants at our Colony Park Property in Ceres, California filed a complaint in the California Superior Court for Stanislaus County alleging that we had failed to properly maintain the Property and had improperly reduced the services provided to the tenants, among other allegations. We answered the complaint by denying all material allegations and filed a counterclaim for declaratory relief and damages. The case proceeded in Superior Court because our motion to compel arbitration was denied and the denial was upheld on appeal. Trial of the case began on July 27, 2010. After just over three months of trial in which the plaintiffs asked the jury to award a total of approximately $6.8 million in damages, the jury rendered verdicts awarding a total of less than $44,000 to six out of the 72 plaintiffs, and awarding nothing to the other 66 plaintiffs. The plaintiffs who were awarded nothing filed a motion for a new trial or alternatively for judgment notwithstanding the jury's verdict, which the Court denied on February 14, 2011. All but three of the 66 plaintiffs to whom the jury awarded nothing appealed. Oral argument in the appeal was held on September 19, 2013 and the matter was taken under submission by the California Court of Appeal. By orders entered on December 14, 2011, the Superior Court awarded us approximately $2.0 million in attorneys' fees and other costs jointly and severally against the plaintiffs to whom the jury awarded nothing, and awarded no attorneys' fees or costs to either side with respect to the six plaintiffs to whom the jury awarded less than $44,000. Plaintiffs filed an appeal from the approximately $2.0 million award of our attorneys' fees and other costs. Oral argument in that appeal was also held on September 19, 2013. On December 3, 2013, the Court of Appeal issued a partially published opinion that rejected all of plaintiffs' claims on appeal except one, relating to whether the park's rules prohibited the renting of spaces to recreational vehicles. The Court of Appeal reversed the judgment on the recreational vehicle issue and remanded for further proceedings regarding that issue. Because the judgment was reversed, the award of attorney's fees and other costs was also reversed. Both sides filed rehearing petitions with the Court of Appeal. On December 31, 2013, the Court of Appeal granted the defendants' rehearing petition and ordered the parties to submit supplemental briefing, which the parties did. On March 10, 2014, the Court of Appeal issued a new partially published opinion in which it again rejected all of the plaintiffs' claims on appeal except the one relating to whether the park's rules prohibited the renting of spaces to recreational vehicles, reversing the judgment on that issue and remanding it for further proceedings, and accordingly vacating the award of attorney's fees and other costs. As of result of a settlement we reached with the plaintiffs remaining in the litigation, pursuant to which among other provisions the parties agreed to mutually release all of their claims in the litigation without any payment by us, on September 28, 2015 the plaintiffs filed with the Superior Court a request for dismissal with prejudice of the entire action, to which we consented. On July 14, 2016, the Superior Court entered a dismissal of the action with prejudice. California Hawaiian On April 30, 2009, a group of tenants at our California Hawaiian Property in San Jose, California filed a complaint in the California Superior Court for Santa Clara County, Case No. 109CV140751, alleging that we have failed to properly maintain the Property and have improperly reduced the services provided to the tenants, among other allegations. We moved to compel arbitration and stay the proceedings, to dismiss the case, and to strike portions of the complaint. By order dated October 8, 2009, the Court granted our motion to compel arbitration and stayed the court proceedings pending the outcome of the arbitration. The plaintiffs filed with the California Court of Appeal a petition for a writ seeking to overturn the trial court's arbitration and stay orders. On May 10, 2011, the Court of Appeal granted the petition and ordered the trial court to vacate its order compelling arbitration and to restore the matter to its litigation calendar for further proceedings. On May 24, 2011, we filed a petition for rehearing requesting the Court of Appeal to reconsider its May 10, 2011 decision. On June 8, 2011, the Court of Appeal denied the petition for rehearing. On June 16, 2011, we filed with the California Supreme Court a petition for review of the Court of Appeal's decision. On August 17, 2011, the California Supreme Court denied the petition for review. The trial commenced on January 27, 2014. On April 14-15, 2014, the jury entered verdicts against our Operating Partnership of approximately $15.3 million in compensatory damages and approximately $95.8 million in punitive damages. On October 6, 2014, we filed a motion for a new trial and a motion for partial judgment notwithstanding the jury's verdict. On December 5, 2014, after briefing and a hearing on those motions, the trial court entered an order granting us a new trial on the issue of damages while upholding the jury's determination of liability. As grounds for the ruling, the court cited excessive damages and insufficiency of the evidence to support the verdict as to the amount of damages awarded by the jury. The Court's ruling overturned the April 2014 verdicts of $15.3 million in compensatory damages and $95.8 million in punitive damages. On January 28, 2015, we and the plaintiffs each served notices of appeal from the trial court's December 5, 2014 order. The Court of Appeal issued an order setting the briefing sequence and ordered commencement of the briefing. On December 15, 2015, the plaintiffs filed their opening appellants’ brief; on March 25, 2016, we filed our combined respondents’ and opening brief; and on July 8, 2016, the plaintiffs filed their combined reply and cross-respondents’ brief. We intend to continue to vigorously defend ourselves in this litigation. At June 30, 2016, based on the information available to us, a material loss was neither probable nor estimable. We have taken into consideration the events that have occurred after the reporting period and before the financial statements were issued. We anticipate a lengthy time period to achieve resolution of this case. Monte del Lago On February 13, 2015, a group of tenants at our Monte del Lago Property in Castroville, California filed a complaint in the California Superior Court for Monterey County, Case No. M131016, alleging that we have failed to properly maintain the Property and have improperly reduced the services provided to the tenants, among other allegations. We believe the allegations are without merit and intend to vigorously defend ourselves in the lawsuit. On May 13, 2015, we filed a motion to compel arbitration with respect to certain plaintiffs and to stay the litigation pending the conclusion of the arbitration proceedings. Hearings on the motion were held on July 17, 2015 and September 18, 2015. On October 7, 2015, the court denied our motion. On December 3, 2015, we filed a notice of appeal from the denial of our motion. Santiago Estates On September 4, 2015, a group of tenants at our Santiago Estates Property in Sylmar, California filed a complaint in the California Superior Court for Los Angeles County, Case No. BC593831, alleging that we have failed to properly maintain the Property and have improperly reduced the services provided to the tenants, among other allegations. We believe the allegations are without merit and intend to vigorously defend ourselves in the lawsuit. On November 24, 2015, we filed a motion to compel arbitration with respect to certain plaintiffs and to stay the litigation pending the conclusion of the arbitration proceedings. The hearing date for that motion is August 19, 2016. Civil Investigation by Certain California District Attorneys In November 2014, we received a civil investigative subpoena from the office of the District Attorney for Monterey County, California ("MCDA"), seeking information relating to, among other items, statewide compliance with asbestos and hazardous waste regulations dating back to 2005 primarily in connection with demolition and renovation projects performed by third-party contractors at our California Properties. We responded by providing the information required by the subpoena. On October 20, 2015, we attended a meeting with representatives of the MCDA and certain other District Attorneys' offices at which the MCDA reviewed the preliminary results of their investigation including, among other things, (i) alleged violations of asbestos and related regulations associated with approximately 200 historical demolition and renovation projects in California; (ii) potential exposure to civil penalties and unpaid fees; and (iii) next steps with respect to a negotiated resolution of the alleged violations. No legal proceedings have been instituted to date, and we are involved in settlement discussions with the District Attorneys' offices. We continue to assess the allegations and the underlying facts, and at this time we are unable to predict the outcome of the investigation or reasonably estimate any possible loss. Alpine Lake RV Resort OSHA Citations On February 19, 2016, we received a Citation and Notice of Penalty from the Occupational Safety and Health Administration (“OSHA”) alleging two willful and seven serious safety violations relating to the design and maintenance of the electrical system at our Alpine Lake RV Resort in Corinth, New York, and assessing fines totaling $187,000. We have been working with a certified third-party electrician to address the items raised in the citations. On March 9, 2016, we attended an informal conference in Albany, New York with the OSHA Area Director. The matter was not resolved at the meeting, and we filed the required notice of contest on March 10, 2016 after which the matter was transferred to the Occupational Safety & Health Review Commission, which is represented by a solicitor from the Department of Labor. The solicitor filed a complaint on May 20, 2016, and the parties participated in a formal settlement conference on June 22, 2016. The parties did not reach a settlement at the formal settlement conference. Absent the parties reaching a settlement, we anticipate that this matter will proceed to trial. We intend to continue to vigorously defend ourselves, and at this time we are unable to predict the outcome of this matter. Other In addition to legal matters discussed above, we are involved in various other legal and regulatory proceedings ("Other Proceedings") arising in the ordinary course of business. The Other Proceedings include, but are not limited to, notices, consent decrees, information requests, and additional permit requirements and other similar enforcement actions by governmental agencies relating to our utility infrastructure, including water and wastewater treatment plants and other waste treatment facilities and electrical systems. Additionally, in the ordinary course of business, our operations are subject to audit by various taxing authorities. Management believes these Other Proceedings taken together do not represent a material liability. In addition, to the extent any such proceedings or audits relate to newly acquired Properties, we consider any potential indemnification obligations of sellers in our favor.

Reportable Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Reportable Segments

Operating segments are defined as components of an entity for which separate financial information is available that is evaluated regularly by the chief operating decision maker. The chief operating decision maker evaluates and assesses performance on a monthly basis. Segment operating performance is measured on Net Operating Income (“NOI”). NOI is defined as total operating revenues less total operating expenses. Segments are assessed before interest income, depreciation and amortization of in-place leases.

We have identified two reportable segments which are: (i) Property Operations and (ii) Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease Properties and the Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The distribution of the Properties throughout the United States reflects our belief that geographic diversification helps insulate the portfolio from regional economic influences.

All revenues are from external customers and there is no customer who contributed 10% or more of our total revenues during the six months ended June 30, 2016 or 2015.

The following tables summarize our segment financial information for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):

Quarter Ended June 30, 2016



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	193,184		$	13,002		$	206,186
Operations expenses	(94,375		)	(11,867		)	(106,242		)
Income from segment operations	98,809			1,135			99,944
Interest income	736			867			1,603
Depreciation on real estate assets and rental homes	(26,317		)	(2,712		)	(29,029		)
Amortization of in-place leases	(428		)	—			(428		)
Income (loss) from operations	$	72,800		$	(710	)	72,090
Reconciliation to Consolidated net income:
Corporate interest income							22
Income from other investments, net							2,270
General and administrative							(8,255		)
Property rights initiatives and other							(527		)
Interest and related amortization							(25,561		)
Equity in income of unconsolidated joint ventures							765
Consolidated net income							$	40,804

Total assets	$	3,249,375		$	236,200		$	3,485,575

Quarter Ended June 30, 2015



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	184,125		$	13,441		$	197,566
Operations expenses	(90,677		)	(11,502		)	(102,179		)
Income from segment operations	93,448			1,939			95,387
Interest income	713			1,001			1,714
Depreciation on real estate assets and rental homes	(25,586		)	(2,749		)	(28,335		)
Amortization of in-place leases	(669		)	—			(669		)
Income from operations	$	67,906		$	191		68,097
Reconciliation to Consolidated net income:
Corporate interest income							22
Income from other investments, net							2,178
General and administrative							(7,541		)
Property rights initiatives and other							(694		)
Early debt retirement							69
Interest and related amortization							(26,145		)
Equity in income of unconsolidated joint ventures							840
Consolidated net income							$	36,826

Total assets	$	3,192,050		$	255,458		$	3,447,508

Six Months Ended June 30, 2016



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	397,910		$	25,040		$	422,950
Operations expenses	(184,887		)	(22,507		)	(207,394		)
Income from segment operations	213,023			2,533			215,556
Interest income	1,453			1,785			3,238
Depreciation on real estate assets and rental homes	(52,281		)	(5,403		)	(57,684		)
Amortization of in-place leases	(763		)	—			(763		)
Income (loss) from operations	$	161,432		$	(1,085	)	160,347
Reconciliation to Consolidated net income:
Corporate interest income							47
Income from other investments, net							3,993
General and administrative							(15,663		)
Property rights initiatives and other							(1,181		)
Interest and related amortization							(51,195		)
Equity in income of unconsolidated joint ventures							1,646
Consolidated net income							$	97,994

Total assets	$	3,249,375		$	236,200		$	3,485,575
Capital improvements	$	37,551		$	30,984		$	55,707

Six Months Ended June 30, 2015



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	378,814		$	24,227		$	403,041
Operations expenses	(177,957		)	(20,700		)	(198,657		)
Income from segment operations	200,857			3,527			204,384
Interest income	1,422			2,089			3,511
Depreciation on real estate assets and rental homes	(50,965		)	(5,486		)	(56,451		)
Amortization of in-place leases	(1,334		)	—			(1,334		)
Income from operations	$	149,980		$	130		150,110
Reconciliation to Consolidated net income:
Corporate interest income							45
Income from other investments, net							3,297
General and administrative							(14,947		)
Property rights initiatives and other							(1,247		)
Early debt retirement							(16,922		)
Interest and related amortization							(53,421		)
Equity in income of unconsolidated joint ventures							1,724
Consolidated net income							$	68,639

Total assets	$	3,192,050		$	255,458		$	3,447,508
Capital improvements	$	22,557		$	19,702		$	42,259

The following table summarizes our financial information for the Property Operations segment for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):



	Quarters Ended						Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Revenues:
Community base rental income	$	115,385		$	110,073		$	229,461		$	219,343
Resort base rental income	44,732			41,427			100,166			93,072
Right-to-use annual payments	11,187			10,945			22,241			21,926
Right-to-use contracts current period, gross	3,086			3,578			5,618			6,375
Right-to-use contract upfront payments, deferred, net	(798		)	(1,455		)	(1,100		)	(2,228		)
Utility and other income	19,523			18,901			40,316			37,983
Ancillary services revenues, net	69			656			1,208			2,343
Total property operations revenues	193,184			184,125			397,910			378,814
Expenses:
Property operating and maintenance	66,647			64,178			129,601			125,295
Real estate taxes	12,869			12,652			26,067			25,246
Sales and marketing, gross	2,931			3,512			5,424			6,034
Right-to-use contract commissions, deferred, net	(116		)	(764		)	(12		)	(1,007		)
Property management	12,044			11,099			23,807			22,389
Total property operations expenses	94,375			90,677			184,887			177,957
Income from property operations segment	$	98,809		$	93,448		$	213,023		$	200,857

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):



	Quarters Ended				Six Months Ended
	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015
Revenues:
Gross revenue from home sales	$	9,130	$	9,526	$	17,344	$	16,463
Brokered resale revenues, net	329		356		608		651
Rental home income ^(a)	3,543		3,559		7,088		7,113
Total revenues	13,002		13,441		25,040		24,227
Expenses:
Cost of home sales	9,481		9,093		17,762		15,817
Home selling expenses	805		720		1,639		1,525
Rental home operating and maintenance	1,581		1,689		3,106		3,358
Total expenses	11,867		11,502		22,507		20,700
Income from home sales and rentals operations segment	$	1,135	$	1,939	$	2,533	$	3,527

______________________


(a)	Segment information does not include Site rental income included in Community base rental income.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Restricted Cash


	Restricted Cash

Fair Value of Financial Instruments

Deferred Financing Costs, net

Recent Accounting Pronouncements

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

Earnings Per Common Share



	Quarters Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Numerators:
Net Income Available for Common Stockholders:
Net income available for Common Stockholders – basic	$	35,490	$	31,786	$	86,073	$	58,972
Amounts allocated to dilutive securities	2,998		2,724		7,308		5,054
Net income available for Common Stockholders – fully diluted	$	38,488	$	34,510	$	93,381	$	64,026
Denominator:
Weighted average Common Shares outstanding – basic	84,516		84,031		84,419		83,996
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares	7,205		7,221		7,206		7,223
Stock options and restricted shares	543		599		538		610
Weighted average Common Shares outstanding – fully diluted	92,264		91,851		92,163		91,829

Earnings per Common Share – Basic:
Net income available for Common Stockholders	$	0.42	$	0.38	$	1.02	$	0.70

Earnings per Common Share – Fully Diluted:
Net income available for Common Stockholders	$	0.42	$	0.38	$	1.01	$	0.70

Common Stock and Other Equity Related Transactions (Tables)

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Schedule of Dividend



Distribution Amount Per Share	For the Quarter Ending	Stockholder Record Date	Payment Date
$0.421875	March 31, 2016	March 21, 2016	March 31, 2016
$0.421875	June 30, 2016	June 17, 2016	June 30, 2016

The following regular quarterly distributions have been declared and paid to common stockholders and common OP Unit non-controlling interest holders for the six months ended June 30, 2016:



Distribution Amount Per Share	For the Quarter Ending	Stockholder Record Date	Payment Date
$0.425	March 31, 2016	March 25, 2016	April 8, 2016
$0.425	June 30, 2016	June 24, 2016	July 8, 2016

Schedule of Stock

The following table presents the shares that were issued under the ATM equity offering program during the six months ended June 30, 2016 (amounts in thousands, except stock data):



	Six Months Ended June 30, 2016
Shares of Common Stock sold	683,548
Weighted average price	$	73.15
Total gross proceeds	$	50,000
Commissions paid to sales agents	$	657

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

+ Details

Investment in Real Estate Schedule of Identified Assets Acquired and Liabilities Assumed (Tables)

6 Months Ended

Jun. 30, 2016

Real Estate [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



	Six Months Ended		Year Ended
	June 30, 2016		December 31, 2015
Assets acquired
Land	$	40,975	$	8,985
Buildings and other depreciable property	58,676		13,948
Manufactured homes	22		345
In-place leases	475		622
Net investment in real estate	100,148		23,900
Other assets	20		53
Total Assets acquired	$	100,168	$	23,953

Liabilities assumed
Mortgage notes payable	$	22,010	$	—
Other liabilities	1,955		266
Total Liabilities assumed	$	23,965	$	266
Net assets acquired	$	76,203	$	23,687

Investment in Unconsolidated Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments



						Investment as of				JV Income (loss) for the Six Months Ended
Investment	Location	Number of Sites	Economic Interest ^(a)			June 30, 2016		December 31, 2015		June 30, 2016			June 30, 2015
Meadows	Various (2,2)	1,077	50	%		$	139	$	162	$	577		$	742
Lakeshore	Florida (2,2)	342	65	%		50		46		160			177
Voyager	Arizona (1,1)	1,706	50	%	^(b)	7,676		7,166		917			740
ECHO JV	Various	—	50	%		15,358		10,367		(8		)	65
		3,125				$	23,223	$	17,741	$	1,646		$	1,724

_____________________


(a)	The percentages shown approximate our economic interest as of June 30, 2016. Our legal ownership interest may differ.


(b)	Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing the Property.

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value



Derivatives in Cash Flow Hedging Relationship	Balance Sheet Location	June 30, 2016		December 31, 2015
Interest Rate Swap	Accrued expenses and accounts payable	$	1,197	$	553

Derivative Instruments, Gain (Loss)



Derivatives in Cash Flow Hedging Relationship	Amount of loss recognized in OCI on derivative				Location of loss reclassified from accumulated OCI into income	Amount of loss reclassified from accumulated OCI into income
Derivatives in Cash Flow Hedging Relationship	June 30, 2016		June 30, 2015			June 30, 2016		June 30, 2015
Interest Rate Swap	$	338	$	230	Interest Expense	$	302	$	434



Derivatives in Cash Flow Hedging Relationship	Amount of loss recognized in OCI on derivative				Location of loss reclassified from accumulated OCI into income	Amount of loss reclassified from accumulated OCI into income
Derivatives in Cash Flow Hedging Relationship	June 30, 2016		June 30, 2015			June 30, 2016		June 30, 2015
Interest Rate Swap	$	1,258	$	1,522	Interest Expense	$	614	$	869

We determined that no adjustment was necessary for non-performance risk on our derivative obligation. As of June 30, 2016, we have not posted any collateral related to this agreement.

Deferred Revenue-Right-to-use contracts and Deferred commission expense (Tables)

6 Months Ended

Jun. 30, 2016

Deferred Revenue Disclosure [Abstract]

Deferred Revenue, by Arrangement, Disclosure

As of June 30, 2016 and 2015, the components of the change in deferred revenue-entry of right-to-use contracts and deferred commission expense are as follows (amounts in thousands):



	Six Months Ended June 30,
	2016			2015
Deferred revenue–upfront payments from right-to-use contracts, as of January 1,	$	78,405		$	74,174
Right-to-use contracts current period, gross	5,618			6,375
Revenue recognized from right-to-use contract upfront payments	(4,518		)	(4,147		)
Right-to-use contract upfront payments, deferred, net	1,100			2,228
Deferred revenue–upfront payments from right-to-use contracts, as of June 30,	$	79,505		$	76,402

Deferred commission expense, as of January 1,	$	30,865		$	28,589
Deferred commission expense	2,238			3,067
Commission expense recognized	(2,019		)	(1,696		)
Net increase in deferred commission expense	219			1,371
Deferred commission expense, as of June 30,	$	31,084		$	29,960

Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize our segment financial information for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):

Quarter Ended June 30, 2016



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	193,184		$	13,002		$	206,186
Operations expenses	(94,375		)	(11,867		)	(106,242		)
Income from segment operations	98,809			1,135			99,944
Interest income	736			867			1,603
Depreciation on real estate assets and rental homes	(26,317		)	(2,712		)	(29,029		)
Amortization of in-place leases	(428		)	—			(428		)
Income (loss) from operations	$	72,800		$	(710	)	72,090
Reconciliation to Consolidated net income:
Corporate interest income							22
Income from other investments, net							2,270
General and administrative							(8,255		)
Property rights initiatives and other							(527		)
Interest and related amortization							(25,561		)
Equity in income of unconsolidated joint ventures							765
Consolidated net income							$	40,804

Total assets	$	3,249,375		$	236,200		$	3,485,575

Quarter Ended June 30, 2015



	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	184,125		$	13,441		$	197,566
Operations expenses	(90,677		)	(11,502		)	(102,179		)
Income from segment operations	93,448			1,939			95,387
Interest income	713			1,001			1,714
Depreciation on real estate assets and rental homes	(25,586		)	(2,749		)	(28,335		)
Amortization of in-place leases	(669		)	—			(669		)
Income from operations	$	67,906		$	191		68,097
Reconciliation to Consolidated net income:
Corporate interest income							22
Income from other investments, net							2,178
General and administrative							(7,541		)
Property rights initiatives and other							(694		)
Early debt retirement							69
Interest and related amortization							(26,145		)
Equity in income of unconsolidated joint ventures							840
Consolidated net income							$	36,826

Total assets	$	3,192,050		$	255,458		$	3,447,508

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table summarizes our financial information for the Property Operations segment for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):



	Quarters Ended						Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Revenues:
Community base rental income	$	115,385		$	110,073		$	229,461		$	219,343
Resort base rental income	44,732			41,427			100,166			93,072
Right-to-use annual payments	11,187			10,945			22,241			21,926
Right-to-use contracts current period, gross	3,086			3,578			5,618			6,375
Right-to-use contract upfront payments, deferred, net	(798		)	(1,455		)	(1,100		)	(2,228		)
Utility and other income	19,523			18,901			40,316			37,983
Ancillary services revenues, net	69			656			1,208			2,343
Total property operations revenues	193,184			184,125			397,910			378,814
Expenses:
Property operating and maintenance	66,647			64,178			129,601			125,295
Real estate taxes	12,869			12,652			26,067			25,246
Sales and marketing, gross	2,931			3,512			5,424			6,034
Right-to-use contract commissions, deferred, net	(116		)	(764		)	(12		)	(1,007		)
Property management	12,044			11,099			23,807			22,389
Total property operations expenses	94,375			90,677			184,887			177,957
Income from property operations segment	$	98,809		$	93,448		$	213,023		$	200,857

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters and six months ended June 30, 2016 and 2015 (amounts in thousands):



	Quarters Ended				Six Months Ended
	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015
Revenues:
Gross revenue from home sales	$	9,130	$	9,526	$	17,344	$	16,463
Brokered resale revenues, net	329		356		608		651
Rental home income ^(a)	3,543		3,559		7,088		7,113
Total revenues	13,002		13,441		25,040		24,227
Expenses:
Cost of home sales	9,481		9,093		17,762		15,817
Home selling expenses	805		720		1,639		1,525
Rental home operating and maintenance	1,581		1,689		3,106		3,358
Total expenses	11,867		11,502		22,507		20,700
Income from home sales and rentals operations segment	$	1,135	$	1,939	$	2,533	$	3,527

______________________


(a)	Segment information does not include Site rental income included in Community base rental income.

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Intangible assets and goodwill	$ 12,100		$ 12,100		$ 12,100
Intangible assets	4,300		4,300		4,300
Goodwill	7,800		7,800		7,800
Accumulated amortization of identified intangible assets	2,700		2,700		2,600
Amortization of in-place leases	428	$ 669	763	$ 1,334
Cash and cash equivalents, restricted cash	5,300		5,300		5,000
Deferred financing costs, net	18,900		18,900		19,700
Debt, secured and unsecured	2,100,000		2,100,000		2,100,000
Accumulated amortization for deferred financing costs	35,600		35,600		33,700
Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Mortgage notes payable fair value	2,200,000		2,200,000		$ 2,200,000
Identified Intangible Assets
Significant Accounting Policies [Line Items]
Amortization of in-place leases	$ 100	$ 100	$ 100	$ 100
Primary Beneficiary
Significant Accounting Policies [Line Items]
Ownership percentage			92.20%

Earnings Per Common Share - Calculation of numerator and denominator in eps table (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerators:
Net income available for Common Stockholders – basic	$ 35,490	$ 31,786	$ 86,073	$ 58,972
Amounts allocated to dilutive securities	2,998	2,724	7,308	5,054
Net income available for Common Stockholders – fully diluted	$ 38,488	$ 34,510	$ 93,381	$ 64,026
Denominator:
Weighted average Common Shares outstanding – basic (shares)	84,516	84,031	84,419	83,996
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares (shares)	7,205	7,221	7,206	7,223
Stock options and restricted shares (shares)	543	599	538	610
Weighted average Common Shares outstanding – fully diluted (shares)	92,264	91,851	92,163	91,829
Earnings per Common Share – Basic:
Net income available for Common Shares (usd per share)	$ 0.42	$ 0.38	$ 1.02	$ 0.70
Earnings per Common Share – Fully Diluted:
Net income available for Common Shares (usd per share)	$ 0.42	$ 0.38	$ 1.01	$ 0.70

Common Stock and Other Equity Related Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands					6 Months Ended
	Jul. 08, 2016	Jun. 30, 2016	Apr. 08, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	May 04, 2015
Class of Stock [Line Items]
Common stock, dividends paid (usd per share)			$ 0.425
Common Stock, par or stated value per share (usd per share)						$ 0.01	$ 0.01
Commissions paid to sales agents					$ 824	$ 323
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends paid (usd per share)		$ 0.421875		$ 0.421875
Subsequent Event
Class of Stock [Line Items]
Common stock, dividends paid (usd per share)	$ 0.4250
Private Placement
Class of Stock [Line Items]
Aggregate Offering price								$ 125,000
Total gross proceeds					50,000
Common stock remained available for issuance		$ 75,000			$ 75,000
Private Placement \| Common Stock
Class of Stock [Line Items]
Shares of common stock sold (shares)					683,548
Weighted average price per share (usd per share)					$ 73.15
Commissions paid to sales agents					$ 657

Investment in Real Estate - Additional Information (Detail) $ in Millions				12 Months Ended
	Jun. 15, 2016 USD ($) site	May 26, 2016 USD ($) site	Jan. 27, 2016 USD ($) site	Dec. 31, 2015 USD ($) Property site
Whispering Pines and Miami Everglades
Real Estate Properties [Line Items]
Purchase price \| $				$ 23.9
Number of properties acquired \| Property				2
Whispering Pines and Miami Everglades \| R V Resort
Real Estate Properties [Line Items]
Number of acquired sites				581
Bogue Pines \| Manufactured homes
Real Estate Properties [Line Items]
Number of acquired sites				150
Zephryhills, Florida \| Forest Lake Estates
Real Estate Properties [Line Items]
Purchase price \| $	$ 75.2
Loan as direct credit to acquire \| $	$ 22.6
Number of acquired sites	1,168
Zephryhills, Florida \| Forest Lake Estates \| R V Resort
Real Estate Properties [Line Items]
Number of acquired sites	274
Zephryhills, Florida \| Forest Lake Estates \| Manufactured homes
Real Estate Properties [Line Items]
Number of acquired sites	894
Fairview, Oregon \| Portland Fairview \| R V Resort
Real Estate Properties [Line Items]
Purchase price \| $		$ 17.6
Number of acquired sites		407
Port Orange, Florida \| Rose Bay \| R V Resort
Real Estate Properties [Line Items]
Purchase price \| $			$ 7.4
Number of acquired sites			303

Investment in Real Estate- Real Estate Acquired (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Assets acquired	$ 100,148	$ 23,900
Other assets	20	53
Total Assets acquired	100,168	23,953
Mortgage notes payable	22,010	0
Other liabilities	1,955	266
Total Liabilities assumed	23,965	266
Net assets acquired	76,203	23,687
Land
Business Acquisition [Line Items]
Assets acquired	40,975	8,985
Buildings and other depreciable property
Business Acquisition [Line Items]
Assets acquired	58,676	13,948
Manufactured homes
Business Acquisition [Line Items]
Assets acquired	22	345
In-place leases
Business Acquisition [Line Items]
Assets acquired	$ 475	$ 622

Investment in Unconsolidated Joint Ventures - Additional Information (Detail) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 04, 2016 USD ($)	Jun. 30, 2016 USD ($) site	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) site	Jun. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures		$ 765	$ 840	$ 1,646	$ 1,724
Adjustment depreciation				600	500
Distributions, including those in excess of basis				1,000	1,200
Investment in unconsolidated joint ventures				$ 5,000	4,000
Number of Sites \| site		3,125		3,125
Investments		$ 23,223		$ 23,223		$ 17,741
ECHO Financing
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint ventures	$ 5,000
Other Regions \| Meadows Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures				$ 577	742
Number of Sites \| site		1,077		1,077
Ownership percentage ( in percentage)		50.00%		50.00%
Investments		$ 139		$ 139		162
Other Regions \| ECHO Financing
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures				$ (8)	65
Investment in unconsolidated joint ventures	$ 15,400
Number of Sites \| site		0		0
Ownership percentage ( in percentage)		50.00%		50.00%
Investments		$ 15,358		$ 15,358		10,367
Florida \| Lakeshore Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures				$ 160	177
Number of Sites \| site		342		342
Ownership percentage ( in percentage)		65.00%		65.00%
Investments		$ 50		$ 50		46
Arizona \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures				$ 917	$ 740
Number of Sites \| site		1,706		1,706
Ownership percentage ( in percentage)		50.00%		50.00%
Investments		$ 7,676		$ 7,676		$ 7,166
Recreational Vehicle Resort \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Ownership percentage ( in percentage)		50.00%		50.00%
Servicing Assets \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Ownership percentage ( in percentage)		33.00%		33.00%

Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, net	$ 16.6	$ 17.6
Contract receivables	$ 17.2	17.8
Chattel Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, stated interest yield per annum (in percentage)	7.80%
Notes receivable yield rate (in percentage)	19.70%
Weighted average remaining amortization period (in years)	11 years
Notes receivable, allowance	$ 0.3	0.3
Contract Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average remaining amortization period (in years)	4 years
Provision for uncollectible receivable	$ 0.6	$ 0.6
Contracts receivable, yield interest at a stated per annum average (in percentage)	16.10%

Borrowing Arrangements - Additional Information (Detail)		1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
	Jun. 15, 2016 USD ($)	Jul. 26, 2016 USD ($) Property loan	Jun. 30, 2016 USD ($) Property Rate	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) Property loan Rate	Jun. 30, 2015 USD ($)	Dec. 31, 2015 USD ($) Property	Jun. 30, 2016 USD ($) Property Rate
Debt Instrument [Line Items]
Deferred financing costs, net			$ 18,900,000		$ 18,900,000		$ 19,700,000	$ 18,900,000
Mortgage notes payable			$ 1,915,834,000		$ 1,915,834,000		$ 1,926,880,000	$ 1,915,834,000
Weighted average interest rate \| Rate			4.90%		4.90%			4.90%
Stated interest rate			5.533%		5.533%			5.533%
Number of pledged properties \| Property							127
Pledged assets, not separately reported			$ 2,300,000,000		$ 2,300,000,000		$ 2,200,000,000	$ 2,300,000,000
Early debt retirement			0	$ (69,000)	0	$ 16,922,000
New mortgage notes payable financing proceeds					0	$ 395,323,000
Unsecured debt			199,276,000		199,276,000		$ 199,172,000	199,276,000
Maximum borrowing capacity			400,000,000		400,000,000			400,000,000
Additional borrowing capacity			$ 100,000,000		$ 100,000,000			$ 100,000,000
Debt instrument, term (in years)					1 year
Old Credit Facilities
Debt Instrument [Line Items]
Number of maturing mortgage loans repaid \| loan					2
Debt repaid					$ 13,100,000
Minimum
Debt Instrument [Line Items]
Interest rate during period (in percentage) \| Rate					1.20%
Line of credit facility, annual fees (in percentage)					0.20%
Maximum
Debt Instrument [Line Items]
Interest rate during period (in percentage) \| Rate					1.65%
Line of credit facility, annual fees (in percentage)					0.35%
Secured Debt \| Minimum
Debt Instrument [Line Items]
Stated interest rate			3.45%		3.45%			3.45%
Secured Debt \| Maximum
Debt Instrument [Line Items]
Stated interest rate			8.87%		8.87%			8.87%
Line of Credit \| Old Credit Facilities
Debt Instrument [Line Items]
Weighted average interest rate							5.58%
Early debt retirement							$ 17,000,000
Debt repaid								$ 370,200,000
Line of Credit \| New Credit Facilities
Debt Instrument [Line Items]
Weighted average interest rate							3.93%
Debt instrument maturity year							21 years
Number of pledged properties \| Property			32		32		26	32
New mortgage notes payable financing proceeds							$ 395,300,000
Term Loans
Debt Instrument [Line Items]
Unsecured debt			$ 200,000,000		$ 200,000,000		200,000,000	$ 200,000,000
Maturity date					Jan. 10, 2020
Term Loans \| Minimum
Debt Instrument [Line Items]
Variable rate in addition to LIBOR rate (in percentage) \| Rate					1.35%
Term Loans \| Maximum
Debt Instrument [Line Items]
Variable rate in addition to LIBOR rate (in percentage) \| Rate					1.95%
Manufactured homes
Debt Instrument [Line Items]
Number of pledged properties towards loans repaid \| Property					2
Adjustments for New Accounting Pronouncement \| Mortgages Notes Payable
Debt Instrument [Line Items]
Deferred financing costs, net							18,900,000
Adjustments for New Accounting Pronouncement \| Term Loan
Debt Instrument [Line Items]
Deferred financing costs, net							800,000
Adjustments for New Accounting Pronouncement \| Escrow Deposits, Goodwill and other Assets
Debt Instrument [Line Items]
Deferred financing costs, net							$ 3,700,000
Subsequent Event
Debt Instrument [Line Items]
Stated interest rate		5.99%
Number of maturing mortgage loans repaid \| loan		2
Debt repaid		$ 23,900,000
Subsequent Event \| Manufactured homes
Debt Instrument [Line Items]
Number of pledged properties towards loans repaid \| Property		1
Subsequent Event \| R V Resort
Debt Instrument [Line Items]
Number of pledged properties towards loans repaid \| Property		1
Forest Lake Estates \| Zephryhills, Florida
Debt Instrument [Line Items]
Stated interest rate	4.51%
Loan as direct credit to acquire	$ 22,600,000

Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2014
Derivative [Line Items]
Gain reclassified from accumulated OCI into income, net	$ 1.1
2014 Swap \| Term Loans
Derivative [Line Items]
Fixed interest rate (in percentage)		1.04%
Maturity years (in years)		3 years
Maturity date		Aug. 01, 2017
Basis spread on variable rate (in percentage)	1.35%
Interest rate at period end (in percentage)	2.39%

Derivative Instruments and Hedging Activities-Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Derivative [Line Items]
Amount of loss recognized in OCI on derivative (effective portion)	$ 338	$ 230	$ 1,258	$ 1,522
Amount of loss reclassified from accumulated OCI into income (effective portion)			614	$ 869
Accrued expenses and accounts payable
Derivative [Line Items]
Interest rate derivative at fair value	1,197		$ 1,197		$ 553
Cash Flow Hedging \| Interest Expense \| Interest Rate Swap
Derivative [Line Items]
Amount of loss reclassified from accumulated OCI into income (effective portion)	$ 302	$ 434

Deferred Revenue-Right-to-use contracts and Deferred commission expense - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Movement in Deferred Revenue [Roll Forward]
Deferred revenue - right-to-use contracts, beginning balance	$ 78,405	$ 74,174
Right-to-use contracts current period, gross	5,618	6,375
Revenue recognized from right-to-use contract upfront payments	(4,518)	(4,147)
Right-to-use contract upfront payments, deferred, net	1,100	2,228
Deferred revenue - right-to-use contracts, ending balance	79,505	76,402
Movement in Deferred Costs [Roll Forward]
Deferred commission expense, beginning balance	30,865	28,589
Deferred commission expense	2,238	3,067
Commission expense recognized	(2,019)	(1,696)
Net increase in deferred commission expense	219	1,371
Deferred commission expense, ending balance	$ 31,084	$ 29,960

Equity Incentive Awards - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	May 10, 2016	Feb. 29, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	May 13, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation			$ 2,500	$ 2,200	$ 4,393	$ 3,960
Term of award ( in years)					10 years
Number of shares available for grant (in shares)			3,264,282		3,264,282
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					220,000
Proceeds from Stock Options Exercised					$ 5,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 74.53
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		One-third
Restricted Stock \| Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grants in period (in shares)		73,000
Fair value of shares issued		$ 4,900
Equity instruments other than options vesting date		Dec. 31, 2016
Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grants in period (in shares)	14,705	45,784
Fair value of shares issued	$ 1,100	$ 3,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	7,550
Restricted Stock \| Director \| Phase One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options vesting date		Dec. 31, 2016
Restricted Stock \| Director \| Phase Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options vesting date		Dec. 31, 2017
Restricted Stock \| Director \| Phase Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options vesting date		Dec. 31, 2018
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance							3,750,000
Vesting on December 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting arrangement (in percentage)					33.33%
Vesting on December 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting arrangement (in percentage)					33.33%
Vesting on December 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting arrangement (in percentage)					33.33%

Long-Term Cash Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Performance period (years)	3 years
Long term incentive plan compensation	$ (3,852)	$ 657
Long Term Incentive Plan 2016
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Estimated payments for employee long term incentive plan	5,600
Long term incentive plan compensation	$ 1,000

Commitments and Contingencies - Additional Information (Detail) $ in Thousands				12 Months Ended
	Apr. 15, 2014 USD ($)	Sep. 26, 2013	Dec. 14, 2011 USD ($)	Dec. 31, 2010 USD ($) plaintiff claim	Feb. 19, 2016 USD ($) citation	Dec. 04, 2014 USD ($)
Loss Contingencies [Line Items]
Number of citation, willful \| citation					2
Number of citation, safety violation \| citation					7
Total fines					$ 187
City of Santee
Loss Contingencies [Line Items]
One-time rent increase		2.50%
Annual rent increase, percentage of CPI		100.00%
Rent increase upon turnover of site		10.00%
Annual rent increase, percentage of CPI, prior to settlement		70.00%
Colony Park
Loss Contingencies [Line Items]
Loss contingency damages sought by plaintiff				$ 6,800
Jury imposed compensatory damages, less than				$ 44
Number of claims settled \| claim				6
Number of plaintiffs \| plaintiff				72
Number of dismissed claims \| plaintiff				66
Number of claims dismissed and not appealed \| plaintiff				3
Colony Park \| Attorney Fees
Loss Contingencies [Line Items]
Compensatory damages sought			$ 2,000
Compensatory Damages
Loss Contingencies [Line Items]
Damages awarded	$ 15,300
Damages sought but overturned						$ 15,300
Punitive Damages
Loss Contingencies [Line Items]
Damages awarded	$ 95,800
Damages sought but overturned						$ 95,800

Reportable Segments - Additional Information (Detail)	6 Months Ended
Reportable Segments - Additional Information (Detail)	Jun. 30, 2016 integer
Segment Reporting [Abstract]
Number of reportable segments	2

Reportable Segments- Consolidated Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Operations revenues	$ 206,186	$ 197,566	$ 422,950	$ 403,041
Operations expenses	(106,242)	(102,179)	(207,394)	(198,657)
Income from segment operations	99,944	95,387	215,556	204,384
Interest income	1,603	1,714	3,238	3,511
Depreciation on real estate assets and rental homes	(29,029)	(28,335)	(57,684)	(56,451)
Amortization of in-place leases	(428)	(669)	(763)	(1,334)
Income (loss) from operations	72,090	68,097	160,347	150,110
Reconciliation to Consolidated net income:
Corporate interest income	22	22	47	45
Income from other investments, net	2,270	2,178	3,993	3,297
General and administrative	(8,255)	(7,541)	(15,663)	(14,947)
Property rights initiatives and other	(527)	(694)	(1,181)	(1,247)
Early debt retirement	0	(69)	0	16,922
Interest and related amortization	(25,561)	(26,145)	(51,195)	(53,421)
Equity in income of unconsolidated joint ventures	765	840	1,646	1,724
Consolidated net income	40,804	36,826	97,994	68,639
Total assets	3,485,575	3,447,508	3,485,575	3,447,508	$ 3,400,400
Capital improvements			55,707	42,259
Operating Segments \| Property Operations
Segment Reporting Information [Line Items]
Operations revenues	193,184	184,125	397,910	378,814
Operations expenses	(94,375)	(90,677)	(184,887)	(177,957)
Income from segment operations	98,809	93,448	213,023	200,857
Interest income	736	713	1,453	1,422
Depreciation on real estate assets and rental homes	(26,317)	(25,586)	(52,281)	(50,965)
Amortization of in-place leases	(428)	(669)	(763)	(1,334)
Income (loss) from operations	72,800	67,906	161,432	149,980
Reconciliation to Consolidated net income:
Total assets	3,249,375	3,192,050	3,249,375	3,192,050
Capital improvements			37,551	22,557
Operating Segments \| Home Sales and Rentals Operations
Segment Reporting Information [Line Items]
Operations revenues	13,002	13,441	25,040	24,227
Operations expenses	(11,867)	(11,502)	(22,507)	(20,700)
Income from segment operations	1,135	1,939	2,533	3,527
Interest income	867	1,001	1,785	2,089
Depreciation on real estate assets and rental homes	(2,712)	(2,749)	(5,403)	(5,486)
Amortization of in-place leases	0	0	0	0
Income (loss) from operations	(710)	191	(1,085)	130
Reconciliation to Consolidated net income:
Total assets	$ 236,200	$ 255,458	236,200	255,458
Capital improvements			$ 30,984	$ 19,702

Reportable Segments- Income from Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Community base rental income	$ 115,385	$ 110,073	$ 229,461	$ 219,343
Resort base rental income	44,732	41,427	100,166	93,072
Right-to-use annual payments	11,187	10,945	22,241	21,926
Right-to-use contracts current period, gross	3,086	3,578	5,618	6,375
Right-to-use contract upfront payments, deferred, net	(798)	(1,455)	(1,100)	(2,228)
Utility and other income	19,523	18,901	40,316	37,983
Gross revenue from home sales	9,130	9,526	17,344	16,463
Brokered resale revenues and ancillary services revenues, net	398	1,012	1,816	2,994
Rental home income	3,543	3,559	7,088	7,113
Total revenues	210,081	201,480	430,228	409,894
Expenses:
Property operating and maintenance	66,647	64,178	129,601	125,295
Real estate taxes	12,869	12,652	26,067	25,246
Sales and marketing, gross	2,931	3,512	5,424	6,034
Right-to-use contract commissions, deferred, net	(116)	(764)	(12)	(1,007)
Property management	12,044	11,099	23,807	22,389
Cost of home sales	9,481	9,093	17,762	15,817
Home selling expenses	805	720	1,639	1,525
Rental home operating and maintenance	1,581	1,689	3,106	3,358
Total expenses	170,042	165,494	333,880	342,979
Income from property operations segment	40,039	35,986	96,348	66,915
Operating Segments \| Property Operations
Revenues:
Community base rental income	115,385	110,073	229,461	219,343
Resort base rental income	44,732	41,427	100,166	93,072
Right-to-use annual payments	11,187	10,945	22,241	21,926
Right-to-use contracts current period, gross	3,086	3,578	5,618	6,375
Right-to-use contract upfront payments, deferred, net	(798)	(1,455)	(1,100)	(2,228)
Utility and other income	19,523	18,901	40,316	37,983
Ancillary services revenues, net	69	656	1,208	2,343
Total revenues	193,184	184,125	397,910	378,814
Expenses:
Property operating and maintenance	66,647	64,178	129,601	125,295
Real estate taxes	12,869	12,652	26,067	25,246
Sales and marketing, gross	2,931	3,512	5,424	6,034
Right-to-use contract commissions, deferred, net	(116)	(764)	(12)	(1,007)
Property management	12,044	11,099	23,807	22,389
Total expenses	94,375	90,677	184,887	177,957
Income from property operations segment	98,809	93,448	213,023	200,857
Operating Segments \| Home Sales and Rentals Operations
Revenues:
Gross revenue from home sales	9,130	9,526	17,344	16,463
Brokered resale revenues and ancillary services revenues, net	329	356	608	651
Rental home income	3,543	3,559	7,088	7,113
Total revenues	13,002	13,441	25,040	24,227
Expenses:
Cost of home sales	9,481	9,093	17,762	15,817
Home selling expenses	805	720	1,639	1,525
Rental home operating and maintenance	1,581	1,689	3,106	3,358
Total expenses	11,867	11,502	22,507	20,700
Income from property operations segment	$ 1,135	$ 1,939	$ 2,533	$ 3,527