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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	Apr. 27, 2017
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
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		86,842,419

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment in real estate:
Land	$ 1,163,987	$ 1,163,987
Land improvements	2,903,564	2,893,759
Buildings and other depreciable property	635,248	627,590
Investment in real estate	4,702,799	4,685,336
Accumulated depreciation	(1,429,999)	(1,399,531)
Net investment in real estate	3,272,800	3,285,805
Cash	73,248	56,340
Notes receivable, net	34,239	34,520
Investment in unconsolidated joint ventures	19,187	19,369
Deferred commission expense	31,357	31,375
Escrow deposits, goodwill, and other assets, net	40,210	51,578
Total Assets	3,471,041	3,478,987
Liabilities:
Mortgage notes payable, net	1,859,890	1,891,900
Term loan	199,431	199,379
Unsecured lines of credit	0	0
Accrued expenses and accounts payable	85,554	89,864
Deferred revenue – upfront payments from right-to-use contracts	82,264	81,484
Deferred revenue – right-to-use annual payments	13,316	9,817
Accrued interest payable	8,212	8,379
Rents and other customer payments received in advance and security deposits	77,398	76,906
Distributions payable	45,230	39,411
Total Liabilities	2,371,295	2,397,140
Stockholders’ Equity:
Preferred stock value	0	0
Common stock, $0.01 par value	866	854
Paid-in capital	1,117,628	1,103,048
Distributions in excess of accumulated earnings	(216,724)	(231,276)
Accumulated other comprehensive loss	(1)	(227)
Total Stockholders’ Equity	1,037,913	1,008,543
Non-controlling interests – Common OP Units	61,833	73,304
Total Equity	1,099,746	1,081,847
Total Liabilities and Equity	3,471,041	3,478,987
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Stockholders’ Equity:
Preferred stock value	$ 136,144	$ 136,144

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	$ 0.01
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	86,841,775	85,529,386
Common Stock, Shares, Outstanding	86,841,775	85,529,386
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
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Community base rental income	$ 120,692	$ 114,076
Rental home income	3,605	3,545
Resort base rental income	61,068	55,434
Right-to-use annual payments	11,252	11,054
Right-to-use contracts current period, gross	3,206	2,532
Right-to-use contract upfront payments, deferred, net	(775)	(302)
Utility and other income	22,126	20,793
Gross revenues from home sales	7,027	8,214
Brokered resale revenues and ancillary services revenues, net	1,661	1,418
Interest income	1,770	1,660
Income from other investments, net	757	1,723
Total revenues	232,389	220,147
Expenses:
Property operating and maintenance	68,054	62,954
Rental home operating and maintenance	1,551	1,525
Real estate taxes	14,037	13,198
Sales and marketing, gross	2,690	2,493
Right-to-use contract commissions, deferred, net	(84)	104
Property management	12,560	11,763
Depreciation on real estate assets and rental homes	30,109	28,656
Amortization of in-place leases	1,032	335
Cost of home sales	7,119	8,281
Home selling expenses	925	834
General and administrative	7,373	7,407
Property rights initiatives and other, net	219	654
Interest and related amortization	24,879	25,634
Total expenses	170,464	163,838
Income before equity in income of unconsolidated joint ventures	61,925	56,309
Equity in income of unconsolidated joint ventures	1,150	881
Consolidated net income	63,075	57,190
Income allocated to non-controlling interests – Common OP Units	(3,890)	(4,310)
Net income available for Common Stockholders	56,888	50,583
Other comprehensive income (loss) (“OCI”):
Adjustment for fair market value of swap	226	(608)
Consolidated comprehensive income	63,301	56,582
Comprehensive income attributable to Common Stockholders	$ 57,100	$ 50,023
Earnings per Common Share – Basic:
Net income available for Common Shares (usd per share)	$ 0.66	$ 0.60
Earnings per Common Share - Fully Diluted:
Net income available for Common Shares (usd per share)	0.65	0.60
Distributions declared per Common Share outstanding (usd per share)	$ 0.4875	$ 0.425
Weighted average Common Shares outstanding – basic (shares)	86,048	84,321
Weighted average Common Shares outstanding – fully diluted (shares)	93,011	92,041
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Expenses:
Series C Redeemable Perpetual Preferred Stock Dividends	$ (2,297)	$ (2,297)
Non- controlling interests – Common OP Units
Other comprehensive income (loss) (“OCI”):
Comprehensive income allocated to non-controlling interests – Common OP Units	$ (3,904)	$ (4,262)

Consolidated Statements of Changes In Equity - 3 months ended Mar. 31, 2017 - 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, 2016	$ 1,081,847	$ 854	$ 1,103,048	$ 136,144	$ (231,276)	$ 73,304	$ (227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Common OP Units to Common Stock		12	15,339			(15,351)
Issuance of Common Stock through employee stock purchase plan	403		403
Compensation expenses related to restricted stock	1,755		1,755
Adjustment for Common OP Unitholders in the Operating Partnership	0		(2,885)			2,885
Adjustment for fair market value of swap	226						226
Net income	63,075			2,297	56,888	3,890
Distributions	(47,527)			(2,297)	(42,335)	(2,895)
Other	(33)		(32)		(1)
Balance at Mar. 31, 2017	$ 1,099,746	$ 866	$ 1,117,628	$ 136,144	$ (216,724)	$ 61,833	$ (1)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities:
Consolidated net income	$ 63,075	$ 57,190
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation	30,398	28,935
Amortization of in-place leases	1,032	335
Amortization of loan costs	898	979
Debt premium amortization	(655)	(885)
Equity in income of unconsolidated joint ventures	(1,150)	(881)
Distributions of income from unconsolidated joint ventures	1,115	553
Stock-based compensation	1,755	1,914
Revenue recognized from right-to-use contract upfront payments	(2,426)	(2,230)
Commission expense recognized related to right-to-use contracts	1,090	1,002
Long term incentive plan compensation	337	(4,314)
Recovery for uncollectible rents receivable	(53)	(178)
Changes in assets and liabilities:
Notes receivable activity, net	(45)	164
Deferred commission expense	(1,072)	(895)
Escrow deposits, goodwill and other assets	18,316	7,746
Accrued expenses and accounts payable	(5,526)	6,209
Deferred revenue – upfront payments from right-to-use contracts	3,206	2,532
Deferred revenue – right-to-use annual payments	3,499	3,737
Rents received in advance and security deposits	492	(147)
Net cash provided by operating activities	114,286	101,766
Cash Flows From Investing Activities:
Real estate acquisition	0	(7,387)
Investment in unconsolidated joint ventures	0	(5,000)
Repayments of notes receivable	2,461	2,712
Issuance of notes receivable	(2,212)	(1,874)
Capital improvements	(24,354)	(22,495)
Net cash used in investing activities	(24,105)	(34,044)
Cash Flows From Financing Activities:
Proceeds from stock options and employee stock purchase plan	403	5,323
Distributions:
Common Stockholders	(36,364)	(31,612)
Common OP Unitholders	(3,047)	(2,703)
Preferred Stockholders	(2,297)	(2,297)
Principal payments and mortgage debt payoff	(31,887)	(19,535)
Debt issuance and defeasance costs	(49)	(8)
Other	(32)	(41)
Net cash used in financing activities	(73,273)	(50,873)
Net increase in cash and cash equivalents	16,908	16,849
Cash, beginning of period	56,340	80,258
Cash, end of period	73,248	97,107
Supplemental Information:
Cash paid during the period for interest	25,618	26,535
Capital improvements – used homes acquired by repossessions	77	317
Net repayments of notes receivable – used homes acquired by repossessions	(77)	(317)
Building and other depreciable property – reclassification of rental homes	6,967	7,257
Escrow deposits and other assets – reclassification of rental homes	(6,967)	(7,257)
Real estate acquisitions:
Investment in real estate, fair value	0	(7,375)
Accrued expenses and accounts payable	0	8
Rents and other customer payments received in advance and security deposits	0	(20)
Real estate acquisitions, net	$ 0	$ (7,387)

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

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 (“2016 Form 10-K”) for the year ended December 31, 2016. 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 note disclosures required by U.S. Generally Accepted Accounting Principles ("GAAP") for complete financial statements and should be read in conjunction with the financial statements and notes thereto included in the 2016 Form 10-K.

The following notes to the Consolidated Financial Statements highlight significant changes to the notes included in the 2016 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 and expenses are subject to seasonal fluctuations and accordingly, quarterly interim results may not be indicative of full year results.

Note 2 – Summary of Significant Accounting Policies


(a)	Consolidation

We consolidate our majority-owned Subsidiaries in which we have the ability to control the operations and all variable interest entities with respect to which we are the primary beneficiary. We also consolidate entities in which we have a direct or indirect controlling or voting interest. All significant intercompany balances and transactions have been eliminated on 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. The adoption of this standard did not result in any changes to our accounting of interests in less than wholly-owned joint ventures; however, the Operating Partnership now meets the criteria as a VIE. We concluded that the Operating Partnership is a VIE because we are the general partner and controlling owner of approximately 93.6% of the Operating Partnership and the limited partners do not have substantive kick-out or participating rights. Our sole significant asset is our investment in the Operating Partnership, and consequently, substantially all of our assets and liabilities represent those assets and liabilities of the Operating Partnership. The Company has the power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are significant to the VIE. Accordingly, we are the primary beneficiary and we will continue to consolidate the Operating Partnership under this new guidance.

We apply the equity method of accounting to entities in which we do not have a direct or indirect controlling interest or for variable interest entities where we are not considered the primary beneficiary, but can exercise influence over the entity with respect to its operations and major decisions.


(b)	Identified Intangibles and Goodwill

As of both March 31, 2017 and December 31, 2016, 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 both March 31, 2017 and December 31, 2016, 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 $2.8 million as of both March 31, 2017 and December 31, 2016, respectively.

As of both March 31, 2017 and December 31, 2016, the gross carrying amount of in-place lease intangible assets, a component of buildings and other depreciable property on our consolidated balance sheets, was approximately $75.9 million. Accumulated amortization of in-place lease intangible assets was approximately $75.0 million and $74.0 million as of March 31, 2017 and December 31, 2016, respectively.


(c)	Restricted Cash

Cash as of both March 31, 2017 and December 31, 2016 included approximately $5.3 million 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 $18.4 million and $18.9 million, respectively, had an aggregate carrying value of approximately $2,077.7 million and $2,110.2 million as of March 31, 2017 and December 31, 2016, respectively, and a fair value of approximately $2,066.7 million and $2,081.2 million as of March 31, 2017 and December 31, 2016, respectively. The fair value was measured using quoted prices and observable inputs from similar liabilities (Level 2). At March 31, 2017 and December 31, 2016, 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.


(e)	New Accounting Pronouncements

In January 2017, the FASB issued ("ASU 2017-01") Business Combinations (Topic 805): Clarifying the Definition of a Business. ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 will be effective for annual reporting beginning after December 15, 2017. Early adoption is permitted. We are currently in the process of evaluating the potential impact that the adoption of this standard may have on our consolidated financial statements and related disclosures.

In August 2016, the FASB issued (“ASU 2016-15”) Statement of Cash Flows (Topic 230). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for annual reporting periods beginning after December 15, 2017. 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 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 continue to classify leases as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We are currently in the process of 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 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. The new standard will be effective for the Company beginning on January 1, 2018, however early application beginning on January 1, 2017 is permitted. The standard permits the use of either the full retrospective or modified retrospective transition method.

We expect to adopt ASU 2014-09 on January 1, 2018, using the modified retrospective transition method. We are evaluating the complete impact of the adoption to our consolidated financial results. Our primary source of revenue is generated through leasing arrangements, which are excluded from ASU 2014-09. We continue to evaluate and are in the process of quantifying the impact, if any, the adoption of ASU 2014-09 will have on our non-lease revenue streams, including right-to-use annual payments, right-to-use contracts, and utility and other income.

Earnings Per Common Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per Common Share for the quarters ended March 31, 2017 and 2016 (amounts in thousands, except per share data):



	Quarters Ended
	March 31,
	2017		2016
Numerator:
Net Income Available for Common Stockholders:
Net income available for Common Stockholders – basic	$	56,888	$	50,583
Amounts allocated to dilutive securities	3,890		4,310
Net income available for Common Stockholders – fully diluted	$	60,778	$	54,893
Denominator:
Weighted average Common Shares outstanding – basic	86,048		84,321
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares	6,588		7,208
Stock options and restricted shares	375		512
Weighted average Common Shares outstanding – fully diluted	93,011		92,041

Earnings per Common Share – Basic:
Net income available for Common Stockholders	$	0.66	$	0.60

Earnings per Common Share – Fully Diluted:
Net income available for Common Stockholders	$	0.65	$	0.60

Common Stock and Other Equity Related Transactions	3 Months Ended
Common Stock and Other Equity Related Transactions	Mar. 31, 2017
Equity [Abstract]
Common Stock and Other Equity Related Transactions	Common Stock and Other Equity Related Transactions Dividends On March 31, 2017 we paid a$0.421875 per share distribution on our depositary shares (each representing 1/100 of a share of our Series C Preferred Stock) to stockholders of record on March 10, 2017. On April 14, 2017 we paid a $0.4875 per share distribution to Common Stockholders of record on March 31, 2017. Conversions Subject to certain limitations, holders of Common Operating Partnership units ("OP units") can convert their units to Common Stock at any time. During the quarter ended March 31, 2017, 1,231,796 OP units were converted to an equal number of shares of Common Stock.

- 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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+ Details

Investment in Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

The following table summarizes our investment in unconsolidated joint ventures for the quarters ended March 31, 2017 and December 31, 2016 (investment amounts in thousands with the number of Properties shown parenthetically as of March 31, 2017 and December 31, 2016):



						Investment as of				Joint Venture Income for the Quarters Ended
Investment	Location	Number of Sites	Economic Interest ^(a)			March 31, 2017		December 31, 2016		March 31, 2017		March 31, 2016
Meadows	Various (2,2)	1,077	50	%		$	208	$	510	$	548	$	246
Lakeshore	Florida (2,2)	344	65	%		59		56		77		83
Voyager	Arizona (1,1)	1,801	50	%	^(b)	3,602		3,376		500		539
ECHO JV	Various	—	50	%		15,318		15,427		25		13
		3,222				$	19,187	$	19,369	$	1,150	$	881

_____________________


(a)	The percentages shown approximate our economic interest as of March 31, 2017. 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.

We received approximately $1.1 million and $0.6 million in distributions from these joint ventures for the quarters ended March 31, 2017 and 2016, respectively. Approximately $0.2 million of the distributions made to us exceeded our basis in joint ventures for the three months ended March 31, 2017, and as such were recorded as income from unconsolidated joint ventures. None of the distributions made to us exceeded our basis in joint ventures for the quarter ended March 31, 2016.

Borrowing Arrangements	3 Months Ended
Borrowing Arrangements	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowing Arrangements	Borrowing Arrangements Mortgage Notes Payable As of March 31, 2017 and December 31, 2016, we had outstanding mortgage indebtedness of approximately $1,859.9 million and $1,891.9 million, respectively, excluding deferred financing costs. During the quarter ended March 31, 2017 we paid off one maturing mortgage loan of approximately $21.1 million, with a weighted average interest rate of 5.76%per annum, secured by one manufactured home Property. The weighted average interest rate, including the impact of premium/discount amortization and loan cost amortization on on mortgage indebtedness, for the quarters ended March 31, 2017 and December 31, 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 2017 to 2041. The debt encumbered a total of 125 and 126 of our Properties as of March 31, 2017 and December 31, 2016, respectively, and the carrying value of such Properties was approximately $2,267.0 million and $2,296.6 million, as of such dates. As of March 31, 2017, we are in compliance in all material respects with the covenants in our borrowing arrangements.

Equity Incentive Awards	3 Months Ended
Equity Incentive Awards	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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 March 31, 2017 and 2016 was approximately $1.8 million and $1.9 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 March 31, 2017, 3,189,053 shares remained available for grant. 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. On February 1, 2017, we awarded restricted stock grants for 75,000 shares of common stock at a fair market value of approximately $5.4 million to certain members of our senior management for their service in 2017. These restricted stock grants will vest on December 31, 2017. 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

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2017
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 District Court found the rent control ordinance unconstitutional, the United States Court of Appeals for the Ninth Circuit reversed the District 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 Superior 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 Superior 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 Superior Court's arbitration and stay orders. On May 10, 2011, the Court of Appeal granted the petition and ordered the Superior 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 Superior 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 Superior Court cited excessive damages and insufficiency of the evidence to support the verdict as to the amount of damages awarded by the jury. The Superior 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 Superior 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; on July 8, 2016, the plaintiffs filed their combined reply and cross-respondents’ brief; and on September 26, 2016, we filed our reply brief, which was the final brief pursuant to the Court of Appeal's order setting forth the briefing sequence. We believe the allegations had no merit, and we vigorously defended ourselves in the lawsuit. However, as described below in “Settlement of the California Hawaiian, Monte del Lago and Santiago Estates Matters,” we settled this matter. See below for further details. 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. 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 Superior Court denied our motion. On December 3, 2015, we filed a notice of appeal from the denial of our motion, and on October 4, 2016, we filed our opening appellants' brief. We believe the allegations had no merit, and we vigorously defended ourselves in the lawsuit. However, as described below in “Settlement of the California Hawaiian, Monte del Lago and Santiago Estates Matters,” we settled this matter. See below for further details. 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 on that motion was held on August 19, 2016, and the Superior Court granted our motion and ordered the plaintiffs subject to arbitration agreements to resolve all claims alleged in their complaint by arbitration and stayed the remainder of the litigation while the arbitration proceeded. On September 12, 2016, we filed a demand for arbitration seeking, among other things, a declaration, with respect to the plaintiffs subject to arbitration agreements, that their claims are without merit as well as for recovery of attorneys’ fees and costs. On September 30, 2016, plaintiffs filed an ex parte motion in the Superior Court requesting that the Superior Court stay the arbitration proceedings. The Superior Court heard oral argument on the motion on September 30, 2016, we filed a written opposition brief on October 5, 2016 and the Superior Court denied the motion on October 14, 2016. On October 18, 2016, the plaintiffs filed with the California Court of Appeal a petition for a writ seeking to overturn the Superior Court’s order compelling arbitration and requested an immediate stay of the arbitration. On October 19, 2016, the Court of Appeal denied the request for stay, without prejudice to plaintiffs’ resubmitting the request in the event they make a stay request to the arbitrator and that request is denied. We believe the allegations had no merit, and we vigorously defended ourselves in the lawsuit. However, as described below in “Settlement of the California Hawaiian, Monte del Lago and Santiago Estates Matters,” we settled this matter. See below for further details. Settlement of the California Hawaiian, Monte del Lago and Santiago Estates Matters On January 18, 2017, we entered into agreements pursuant to which we agreed to settle each of the California Hawaiian matter, the Monte del Lago matter and the Santiago Estates matter. The settlement agreements provide that $9.9 million will be paid to settle the California Hawaiian matter, $1.5 million will be paid to settle the Monte del Lago matter and $1.9 million will be paid to settle the Santiago Estates matter. As a result, a litigation settlement payable was recorded in Accrued expenses and accounts payable as of December 31, 2016. In addition, an insurance receivable was recorded in escrow deposits, goodwill and other assets, net as of December 31, 2016, resulting in a net settlement of approximately $2.4 million reflected as a component of property rights initiatives and other, net on the consolidated statement of income for the year ended December 31, 2016. During the quarter ended March 31, 2017, the settlements were finalized, the settlement payments were made and the insurance payments were received. Each of the three plaintiff groups is represented by the same law firm, and these settlements resolved all pending matters brought by plaintiffs’ counsel against us or any of our affiliates. Pursuant to the settlement agreements, all plaintiffs provided full releases to each of the defendants and their affiliates including with respect to the claims alleged in the lawsuits, and each of the lawsuits and related appeals were dismissed with prejudice. The settlements do not constitute an admission of liability by us or any of our affiliates and were made to avoid the costs, risks and uncertainties inherent in litigation. 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 $0.2 million. We retained a certified third-party electrician and addressed 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; however the parties continued to engage in settlement discussions. Trial had been scheduled for April 2017. On March 17, 2017, the parties entered into a settlement agreement which, among other things, reclassifies the two willful citations to serious, provides for abatement of the matters included in the citations and requires us to implement certain safety measures. Pursuant to the settlement agreement, we agreed to pay a fine totaling $0.1 million following approval of the settlement agreement by the Occupational Safety and Health Review Commission. 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

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Reportable Segments

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 quarters ended March 31, 2017 or 2016.

The following tables summarize our segment financial information for the quarters ended March 31, 2017 and March 31, 2016 (amounts in thousands):



	Quarter Ended March 31, 2017
	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	218,988		$	10,874		$	229,862
Operations expenses	(97,257		)	(9,595		)	(106,852		)
Income from segment operations	121,731			1,279			123,010
Interest income	729			1,038			1,767
Depreciation on real estate assets and rental homes	(27,410		)	(2,699		)	(30,109		)
Amortization of in-place leases	(1,032		)	—			(1,032		)
Income (loss) from operations	$	94,018		$	(382	)	$	93,636
Reconciliation to Consolidated net income:
Corporate interest income							3
Income from other investments, net							757
General and administrative							(7,373		)
Property rights initiatives and other							(219		)
Interest and related amortization							(24,879		)
Equity in income of unconsolidated joint ventures							1,150
Consolidated net income							$	63,075

Total assets	$	3,247,523		$	223,518		$	3,471,041
Capital improvements	$	13,198		$	11,156		$	24,354



	Quarter Ended March 31, 2016
	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	204,726		$	12,038		$	216,764
Operations expenses	(90,512		)	(10,640		)	(101,152		)
Income from segment operations	114,214			1,398			115,612
Interest income	718			918			1,636
Depreciation on real estate assets and rental homes	(25,965		)	(2,691		)	(28,656		)
Amortization of in-place leases	(335		)	—			(335		)
Income from operations	$	88,632		$	(375	)	88,257
Reconciliation to Consolidated net income:
Corporate interest income							24
Income from other investments, net							1,723
General and administrative							(7,407		)
Property rights initiatives and other							(654		)
Interest and related amortization							(25,634		)
Equity in income of unconsolidated joint ventures							881
Consolidated net income							$	57,190

Total assets	$	3,176,748		$	238,377		$	3,415,125

The following table summarizes our financial information for the Property Operations segment for the quarters ended March 31, 2017 and March 31, 2016 (amounts in thousands):



	Quarters Ended
	March 31, 2017			March 31, 2016
Revenues:
Community base rental income	$	120,692		$	114,076
Resort base rental income	61,068			55,434
Right-to-use annual payments	11,252			11,054
Right-to-use contracts current period, gross	3,206			2,532
Right-to-use contract upfront payments, deferred, net	(775		)	(302		)
Utility and other income	22,126			20,793
Ancillary services revenues, net	1,419			1,139
Total property operations revenues	218,988			204,726
Expenses:
Property operating and maintenance	68,054			62,954
Real estate taxes	14,037			13,198
Sales and marketing, gross	2,690			2,493
Right-to-use contract commissions, deferred, net	(84		)	104
Property management	12,560			11,763
Total property operations expenses	97,257			90,512
Income from property operations segment	$	121,731		$	114,214

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters ended March 31, 2017 and 2016 (amounts in thousands):



	Quarters Ended
	March 31, 2017		March 31, 2016
Revenues:
Gross revenue from home sales	$	7,027	$	8,214
Brokered resale revenues, net	242		279
Rental home income ^(a)	3,605		3,545
Total revenues	10,874		12,038
Expenses:
Cost of home sales	7,119		8,281
Home selling expenses	925		834
Rental home operating and maintenance	1,551		1,525
Total expenses	9,595		10,640
Income from home sales and rentals operations segment	$	1,279	$	1,398

______________________


(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)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation

Note 2 – Summary of Significant Accounting Policies


(a)	Consolidation

Fair Value of Financial Instruments

Recent Accounting Pronouncements

New 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
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

+ Details

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share

Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per Common Share for the quarters ended March 31, 2017 and 2016 (amounts in thousands, except per share data):



	Quarters Ended
	March 31,
	2017		2016
Numerator:
Net Income Available for Common Stockholders:
Net income available for Common Stockholders – basic	$	56,888	$	50,583
Amounts allocated to dilutive securities	3,890		4,310
Net income available for Common Stockholders – fully diluted	$	60,778	$	54,893
Denominator:
Weighted average Common Shares outstanding – basic	86,048		84,321
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares	6,588		7,208
Stock options and restricted shares	375		512
Weighted average Common Shares outstanding – fully diluted	93,011		92,041

Earnings per Common Share – Basic:
Net income available for Common Stockholders	$	0.66	$	0.60

Earnings per Common Share – Fully Diluted:
Net income available for Common Stockholders	$	0.65	$	0.60

Investment in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments



						Investment as of				Joint Venture Income for the Quarters Ended
Investment	Location	Number of Sites	Economic Interest ^(a)			March 31, 2017		December 31, 2016		March 31, 2017		March 31, 2016
Meadows	Various (2,2)	1,077	50	%		$	208	$	510	$	548	$	246
Lakeshore	Florida (2,2)	344	65	%		59		56		77		83
Voyager	Arizona (1,1)	1,801	50	%	^(b)	3,602		3,376		500		539
ECHO JV	Various	—	50	%		15,318		15,427		25		13
		3,222				$	19,187	$	19,369	$	1,150	$	881

_____________________


(a)	The percentages shown approximate our economic interest as of March 31, 2017. 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.

Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize our segment financial information for the quarters ended March 31, 2017 and March 31, 2016 (amounts in thousands):



	Quarter Ended March 31, 2017
	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	218,988		$	10,874		$	229,862
Operations expenses	(97,257		)	(9,595		)	(106,852		)
Income from segment operations	121,731			1,279			123,010
Interest income	729			1,038			1,767
Depreciation on real estate assets and rental homes	(27,410		)	(2,699		)	(30,109		)
Amortization of in-place leases	(1,032		)	—			(1,032		)
Income (loss) from operations	$	94,018		$	(382	)	$	93,636
Reconciliation to Consolidated net income:
Corporate interest income							3
Income from other investments, net							757
General and administrative							(7,373		)
Property rights initiatives and other							(219		)
Interest and related amortization							(24,879		)
Equity in income of unconsolidated joint ventures							1,150
Consolidated net income							$	63,075

Total assets	$	3,247,523		$	223,518		$	3,471,041
Capital improvements	$	13,198		$	11,156		$	24,354



	Quarter Ended March 31, 2016
	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	204,726		$	12,038		$	216,764
Operations expenses	(90,512		)	(10,640		)	(101,152		)
Income from segment operations	114,214			1,398			115,612
Interest income	718			918			1,636
Depreciation on real estate assets and rental homes	(25,965		)	(2,691		)	(28,656		)
Amortization of in-place leases	(335		)	—			(335		)
Income from operations	$	88,632		$	(375	)	88,257
Reconciliation to Consolidated net income:
Corporate interest income							24
Income from other investments, net							1,723
General and administrative							(7,407		)
Property rights initiatives and other							(654		)
Interest and related amortization							(25,634		)
Equity in income of unconsolidated joint ventures							881
Consolidated net income							$	57,190

Total assets	$	3,176,748		$	238,377		$	3,415,125

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table summarizes our financial information for the Property Operations segment for the quarters ended March 31, 2017 and March 31, 2016 (amounts in thousands):



	Quarters Ended
	March 31, 2017			March 31, 2016
Revenues:
Community base rental income	$	120,692		$	114,076
Resort base rental income	61,068			55,434
Right-to-use annual payments	11,252			11,054
Right-to-use contracts current period, gross	3,206			2,532
Right-to-use contract upfront payments, deferred, net	(775		)	(302		)
Utility and other income	22,126			20,793
Ancillary services revenues, net	1,419			1,139
Total property operations revenues	218,988			204,726
Expenses:
Property operating and maintenance	68,054			62,954
Real estate taxes	14,037			13,198
Sales and marketing, gross	2,690			2,493
Right-to-use contract commissions, deferred, net	(84		)	104
Property management	12,560			11,763
Total property operations expenses	97,257			90,512
Income from property operations segment	$	121,731		$	114,214

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters ended March 31, 2017 and 2016 (amounts in thousands):



	Quarters Ended
	March 31, 2017		March 31, 2016
Revenues:
Gross revenue from home sales	$	7,027	$	8,214
Brokered resale revenues, net	242		279
Rental home income ^(a)	3,605		3,545
Total revenues	10,874		12,038
Expenses:
Cost of home sales	7,119		8,281
Home selling expenses	925		834
Rental home operating and maintenance	1,551		1,525
Total expenses	9,595		10,640
Income from home sales and rentals operations segment	$	1,279	$	1,398

______________________


(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
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Significant Accounting Policies [Line Items]
Intangible assets and goodwill	$ 12,100		$ 12,100
Intangible assets	4,300		4,300
Goodwill	7,800		7,800
Accumulated amortization of identified intangible assets	2,800
Amortization of in-place leases	1,032	$ 335
Cash and cash equivalents, restricted cash	5,300
Deferred financing costs, net	$ 18,400		18,900
Primary Beneficiary
Significant Accounting Policies [Line Items]
Ownership percentage	93.60%
Reported Value Measurement [Member]
Significant Accounting Policies [Line Items]
Mortgage notes payable fair value	$ 2,100,000		2,100,000
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Mortgage notes payable fair value	2,100,000
Leases, Acquired-in-Place
Significant Accounting Policies [Line Items]
Intangible assets	75,900
Accumulated amortization of identified intangible assets	$ 75,000		$ 74,000

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
	Mar. 31, 2017	Mar. 31, 2016
Numerator:
Net income available for Common Stockholders – basic	$ 56,888	$ 50,583
Amounts allocated to dilutive securities	3,890	4,310
Net income available for Common Stockholders – fully diluted	$ 60,778	$ 54,893
Denominator:
Weighted average Common Shares outstanding – basic (shares)	86,048	84,321
Effect of dilutive securities:
Redemption of Common OP Units for Common Shares (shares)	6,588	7,208
Stock options and restricted shares (shares)	375	512
Weighted average Common Shares outstanding – fully diluted (shares)	93,011	92,041
Earnings per Common Share – Basic:
Net income available for Common Shares (usd per share)	$ 0.66	$ 0.60
Earnings per Common Share – Fully Diluted:
Net income available for Common Shares (usd per share)	$ 0.65	$ 0.60

Common Stock and Other Equity Related Transactions - Additional Information (Detail) - $ / shares			3 Months Ended
	Apr. 14, 2017	Mar. 31, 2017	Mar. 31, 2017
Class of Stock [Line Items]
Preferred stock dividends paid (usd per share)		$ 0.421875
OP units converted to shares (shares)			1,231,796
Subsequent Event
Class of Stock [Line Items]
Common stock, dividends paid (usd per share)	$ 0.4875

Investment in Unconsolidated Joint Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($) site	Mar. 31, 2016 USD ($)	Dec. 31, 2016 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures	$ 1,150	$ 881
Distributions, including those in excess of basis	200
Investment in unconsolidated joint ventures	$ 0	5,000
Number of Sites \| site	3,222
Distributions of income from unconsolidated joint ventures	$ 1,115	553
Investments	19,187		$ 19,369
Other Regions \| Meadows Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures	$ 548	246
Number of Sites \| site	1,077
Ownership percentage ( in percentage)	50.00%
Investments	$ 208		510
Other Regions \| ECHO Financing
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures	$ 25	13
Number of Sites \| site	0
Ownership percentage ( in percentage)	50.00%
Investments	$ 15,318		15,427
Florida \| Lakeshore Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures	$ 77	83
Number of Sites \| site	344
Ownership percentage ( in percentage)	65.00%
Investments	$ 59		56
Arizona \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures	$ 500	$ 539
Number of Sites \| site	1,801
Ownership percentage ( in percentage)	50.00%
Investments	$ 3,602		$ 3,376
Recreational Vehicle Resort \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Ownership percentage ( in percentage)	50.00%
Servicing Assets \| Voyager Investments
Schedule of Equity Method Investments [Line Items]
Ownership percentage ( in percentage)	33.00%

Borrowing Arrangements - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($) Property loan	Dec. 31, 2016 USD ($) Property Rate
Debt Instrument [Line Items]
Unsecured Debt	$ 199,431	$ 199,379
Mortgage notes payable, net	$ 1,859,890	$ 1,891,900
Number of maturing mortgage loans repaid \| loan	1
Debt repaid	$ 21,100
Weighted average interest rate (in percentage)	5.76%	4.90%
Number of pledged properties \| Property	125	126
Pledged assets, not separately reported	$ 2,300,000	$ 2,300,000
Loans Payable
Debt Instrument [Line Items]
Unsecured Debt		$ 200,000
Secured Debt \| Minimum
Debt Instrument [Line Items]
Stated interest rate (in percentage)	3.45%
Secured Debt \| Maximum
Debt Instrument [Line Items]
Stated interest rate (in percentage)	8.87%
Manufactured homes
Debt Instrument [Line Items]
Number of pledged properties towards loans repaid \| Property	1

Equity Incentive Awards - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Feb. 01, 2017	Mar. 31, 2017	Mar. 31, 2016	May 13, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		$ 1,755	$ 1,914
Term of award (in years)		10 years
Number of shares available for grant (in shares)		3,189,053
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)				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%
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		$ 1,800	$ 1,900
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grants in period (in shares)	75,000
Fair value of shares issued	$ 5,400

Commitments and Contingencies - Additional Information (Detail) $ in Thousands					12 Months Ended
	Mar. 17, 2017 USD ($)	Apr. 15, 2014 USD ($)	Sep. 26, 2013	Dec. 14, 2011 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2010 USD ($) plaintiff claim	Feb. 19, 2016 USD ($) citation	Dec. 04, 2014 USD ($)
Loss Contingencies [Line Items]
Damages awarded	$ 100
Net settlement					$ 2,400
Number of citation, willful \| citation							2
Number of citation, safety violation \| citation							7
Total fines							$ 200
California Hawaiian
Loss Contingencies [Line Items]
Loss contingency accrual					9,900
Monte Del Lago
Loss Contingencies [Line Items]
Loss contingency accrual					1,500
Santiago Estates
Loss Contingencies [Line Items]
Loss contingency accrual					$ 1,900
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)	3 Months Ended
Reportable Segments - Additional Information (Detail)	Mar. 31, 2017 integer
Segment Reporting [Abstract]
Number of reportable segments	2

Reportable Segments- Consolidated Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Operations revenues	$ 229,862	$ 216,764
Operations expenses	(106,852)	(101,152)
Income from segment operations	123,010	115,612
Interest income	1,767	1,636
Depreciation on real estate assets and rental homes	(30,109)	(28,656)
Amortization of in-place leases	(1,032)	(335)
Income (loss) from operations	93,636	88,257
Reconciliation to Consolidated net income:
Corporate interest income	3	24
Income from other investments, net	757	1,723
General and administrative	(7,373)	(7,407)
Property rights initiatives and other	(219)	(654)
Interest and related amortization	(24,879)	(25,634)
Equity in income of unconsolidated joint ventures	1,150	881
Consolidated net income	63,075	57,190
Total assets	3,471,041	3,415,125	$ 3,478,987
Capital improvements	24,354	22,495
Property Operations
Segment Reporting Information [Line Items]
Operations revenues	218,988	204,726
Operations expenses	(97,257)	(90,512)
Income from segment operations	121,731	114,214
Interest income	729	718
Depreciation on real estate assets and rental homes	(27,410)	(25,965)
Amortization of in-place leases	(1,032)	(335)
Income (loss) from operations	94,018	88,632
Reconciliation to Consolidated net income:
Total assets	3,247,523	3,176,748
Capital improvements	13,198
Home Sales and Rentals Operations
Segment Reporting Information [Line Items]
Operations revenues	10,874	12,038
Operations expenses	(9,595)	(10,640)
Income from segment operations	1,279	1,398
Interest income	1,038	918
Depreciation on real estate assets and rental homes	(2,699)	(2,691)
Amortization of in-place leases	0	0
Income (loss) from operations	(382)	(375)
Reconciliation to Consolidated net income:
Total assets	223,518	$ 238,377
Capital improvements	$ 11,156

Reportable Segments- Income from Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Community base rental income	$ 120,692	$ 114,076
Rental home income	3,605	3,545
Right-to-use annual payments	11,252	11,054
Right-to-use contracts current period, gross	3,206	2,532
Right-to-use contract upfront payments, deferred, net	(775)	(302)
Utility and other income	22,126	20,793
Gross revenue from home sales	7,027	8,214
Brokered resale revenues and ancillary services revenues, net	1,661	1,418
Resort base rental income	61,068	55,434
Total revenues	232,389	220,147
Expenses:
Property operating and maintenance	68,054	62,954
Real estate taxes	14,037	13,198
Sales and marketing, gross	2,690	2,493
Right-to-use contract commissions, deferred, net	(84)	104
Property management	12,560	11,763
Cost of home sales	7,119	8,281
Home selling expenses	925	834
Rental home operating and maintenance	1,551	1,525
Total expenses	170,464	163,838
Income from property operations segment	61,925	56,309
Property Operations
Revenues:
Community base rental income	120,692	114,076
Rental home income	61,068	55,434
Right-to-use annual payments	11,252	11,054
Right-to-use contracts current period, gross	3,206	2,532
Right-to-use contract upfront payments, deferred, net	(775)	(302)
Utility and other income	22,126	20,793
Ancillary services revenues, net	1,419	1,139
Total revenues	218,988	204,726
Expenses:
Property operating and maintenance	68,054	62,954
Real estate taxes	14,037	13,198
Sales and marketing, gross	2,690	2,493
Right-to-use contract commissions, deferred, net	(84)	104
Property management	12,560	11,763
Total expenses	97,257	90,512
Income from property operations segment	121,731	114,214
Home Sales and Rentals Operations
Revenues:
Gross revenue from home sales	7,027	8,214
Brokered resale revenues and ancillary services revenues, net	242	279
Resort base rental income	3,605	3,545
Total revenues	10,874	12,038
Expenses:
Cost of home sales	7,119	8,281
Home selling expenses	925	834
Rental home operating and maintenance	1,551	1,525
Total expenses	9,595	10,640
Income from property operations segment	$ 1,279	$ 1,398