The RMR Group Inc. (RMR) 10-Q10 May 172017 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	May 09, 2017
Entity Registrant Name	RMR Group Inc.
Entity Central Index Key	1,644,378
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Class A common shares
Entity Common Stock, Shares Outstanding		15,094,557
Class B-1 common shares
Entity Common Stock, Shares Outstanding		1,000,000
Class B-2 common shares
Entity Common Stock, Shares Outstanding		15,000,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Assets
Cash and cash equivalents	$ 133,057	$ 65,833
Due from related parties	21,353	24,862
Prepaid and other current assets	7,033	4,690
Total current assets	161,443	95,385
Furniture and equipment	4,397	5,024
Leasehold improvements	1,094	1,077
Capitalized software costs	3,741	4,250
Total property and equipment	9,232	10,351
Accumulated depreciation	(5,802)	(6,549)
Total property and equipment, net	3,430	3,802
Due from related parties, net of current portion	7,826	7,754
Equity method investment	271	0
Goodwill	1,859	2,295
Intangible assets, net of amortization	754	1,085
Deferred tax asset	43,323	45,819
Other assets, net of amortization	176,683	181,391
Total assets	395,589	337,531
Current liabilities:
Accounts payable, accrued expenses and deposits	33,262	20,579
Total current liabilities	33,262	20,579
Long term portion of deferred rent payable, net of current portion	916	778
Amounts due pursuant to tax receivable agreement, net of current portion	62,029	62,029
Employer compensation liability, net of current portion	7,826	7,754
Total liabilities	104,033	91,140
Commitments and contingencies
Equity:
Additional paid in capital	95,123	94,266
Retained earnings	74,936	44,543
Cumulative other comprehensive income	82	83
Cumulative common distributions	(25,250)	(17,209)
Total shareholders’ equity	144,922	121,714
Noncontrolling interest	146,634	124,677
Total equity	291,556	246,391
Total liabilities and equity	395,589	337,531
Class A common shares
Equity:
Common stock	15	15
Class B-1 common shares
Equity:
Common stock	1	1
Class B-2 common shares
Equity:
Common stock	$ 15	$ 15

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Sep. 30, 2016
Class A common shares
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	31,600,000	31,600,000
Common stock, shares issued	15,094,557	15,082,432
Common stock, shares outstanding	15,094,557	15,082,432
Class B-1 common shares
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	1,000,000	1,000,000
Common stock, shares outstanding	1,000,000	1,000,000
Class B-2 common shares
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	15,000,000	15,000,000
Common stock, shares outstanding	15,000,000	15,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues
Management services	$ 43,258	$ 39,014	$ 138,392	$ 141,073
Reimbursable payroll and related costs	10,034	8,759	19,184	16,249
Advisory services	1,004	560	2,014	1,141
Total revenues	54,296	48,333	159,590	158,463
Expenses
Compensation and benefits	24,549	21,561	47,781	42,865
General and administrative	7,146	6,488	12,987	13,163
Depreciation and amortization	528	501	1,083	984
Total expenses	32,223	28,550	61,851	57,012
Operating income (loss)	22,073	19,783	97,739	101,451
Interest and other income	450	51	657	76
Income before income tax expense and equity in loss of investee	22,523	19,834	98,396	101,527
Income tax expense	(4,610)	(4,086)	(20,283)	(15,400)
Equity in loss of investee	(165)	0	(165)	0
Net income (loss)	17,748	15,748	77,948	86,127
Net income attributable to noncontrolling interest	(10,865)	(9,634)	(47,555)	(62,959)
Net income attributable to RMR Inc.	6,883	6,114	30,393	23,168
Other comprehensive income (loss):
Foreign currency translation adjustments	10	10	(1)	19
Other comprehensive income (loss)	10	10	(1)	19
Comprehensive income	17,758	15,758	77,947	86,146
Comprehensive income attributable to noncontrolling interest	(10,870)	(9,639)	(47,555)	(62,968)
Comprehensive income attributable to RMR Inc.	$ 6,888	$ 6,119	$ 30,392	$ 23,178
Weighted average common shares outstanding - basic (in shares)	16,025	16,002	16,025	16,001
Weighted average common shares outstanding - diluted (in shares)	16,042	16,002	16,036	16,001
Net income attributable to RMR Inc. per common share - basic and diluted (in dollars per share)	$ 0.43	$ 0.38	$ 1.89	$ 1.45

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Shareholders' Equity - 6 months ended Mar. 31, 2017 - USD ($) $ in Thousands	Total	Additional Paid In Capital	Retained Earnings	Cumulative Other Comprehensive Income (Loss)	Cumulative Common Distributions	Total Shareholders' Equity	Noncontrolling Interest	Class A common sharesCommon shares	Class B-1 common sharesCommon shares	Class B-2 common sharesCommon shares
Balance beginning at Sep. 30, 2016	$ 246,391	$ 94,266	$ 44,543	$ 83	$ (17,209)	$ 121,714	$ 124,677	$ 15	$ 1	$ 15
Increase (Decrease) in Shareholders' Equity
Share grants, net	857	857				857
Net income	77,948		30,393			30,393	47,555
Tax distributions to Member	(18,098)						(18,098)
Common share distributions	(15,541)				(8,041)	(8,041)	(7,500)
Other comprehensive loss	(1)			(1)		(1)	0
Balance ending at Mar. 31, 2017	$ 291,556	$ 95,123	$ 74,936	$ 82	$ (25,250)	$ 144,922	$ 146,634	$ 15	$ 1	$ 15

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities
Net income	$ 77,948	$ 86,127
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	1,083	984
Straight line office rent	138	182
Amortization expense related to other asset	4,708	4,708
Deferred income taxes	2,496	780
Operating expenses paid in RMR Inc. common shares	875	175
Contingent consideration liability	(360)	0
Equity in loss of investee	165	0
Changes in assets and liabilities:
Due from related parties	1,193	(5,063)
Prepaid and other current assets	(2,343)	(1,141)
Accounts payable, accrued expenses and deposits	15,238	11,754
Incentive fee allocable to ABP Trust	0	(26,611)
Net cash from operating activities	101,141	71,895
Cash Flows from Investing Activities
Purchase of property and equipment	(277)	(950)
Net cash used in investing activities	(277)	(950)
Cash Flows from Financing Activities
Distributions to noncontrolling interest	(25,598)	(26,474)
Distributions to common shareholders	(8,041)	(8,416)
Net cash used in financing activities	(33,639)	(34,890)
Effect of exchange rate fluctuations on cash and cash equivalents	(1)	16
Increase in cash and cash equivalents	67,224	36,071
Cash and cash equivalents at beginning of year	65,833	34,497
Cash and cash equivalents at end of year	133,057	70,568
Supplemental cash flow information
Income taxes paid	$ 16,551	$ 13,000

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The RMR Group Inc., or RMR Inc., a Maryland corporation incorporated on May 28, 2015, is a holding company, and substantially all of its business is conducted by its majority owned subsidiary The RMR Group LLC, or RMR LLC, a Maryland limited liability company. RMR Inc. serves as the sole managing member of RMR LLC and, in that capacity, operates and controls the business and affairs of RMR LLC. In these financial statements, unless otherwise indicated, “we,” us” and “our” refer to RMR Inc. and its direct and indirect subsidiaries, including RMR LLC. As of March 31, 2017 , RMR Inc. owns 15,094,557 class A membership units of RMR LLC, or Class A Units, and 1,000,000 class B membership units of RMR LLC, or Class B Units. The aggregate RMR LLC membership units RMR Inc. owns represent 51.8% of the economic interest of RMR LLC as of March 31, 2017 . We refer to economic interest as the right of a holder of a Class A Unit or Class B Unit to share in distributions made by RMR LLC and, upon liquidation, dissolution or winding up of RMR LLC, to share in the assets of RMR LLC after payments to creditors. ABP Trust, a Maryland statutory trust, beneficially owned by Barry M. Portnoy and Adam D. Portnoy, our Managing Directors, owns 15,000,000 redeemable Class A Units, representing 48.2% of the economic interest of RMR LLC as of March 31, 2017 , which is presented as a noncontrolling interest within the condensed consolidated financial statements. RMR LLC was founded in 1986 to manage public investments in real estate and, as of March 31, 2017 , managed a diverse portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages: Government Properties Income Trust, or GOV, a publicly traded real estate investment trust, or REIT, that primarily owns properties that are majority leased to the U.S. government and state governments; Hospitality Properties Trust, or HPT, a publicly traded REIT that primarily owns hotel and travel center properties; Select Income REIT, or SIR, a publicly traded REIT that primarily owns properties that are leased to single tenants, and Senior Housing Properties Trust, or SNH, a publicly traded REIT that primarily owns healthcare, senior living and medical office buildings. Hereinafter, GOV, HPT, SIR and SNH are collectively referred to as the Managed REITs. RMR LLC also provides management services to other publicly traded and private businesses, including: Five Star Senior Living Inc., or Five Star, a publicly traded operator of senior living communities, many of which are owned by SNH; Sonesta International Hotels Corporation, or Sonesta, a privately owned franchisor and operator of hotels, resorts and cruise ships in the United States, Latin America, the Caribbean and the Middle East, some of whose U.S. hotels are owned by HPT; and TravelCenters of America LLC, or TA, an operator of travel centers along the U.S. Interstate Highway System, many of which are owned by HPT, convenience stores with retail gas stations and restaurants. Hereinafter, Five Star, Sonesta and TA are collectively referred to as the Managed Operators. In addition, RMR LLC also provides management services to certain related private companies, including Affiliates Insurance Company, or AIC, an Indiana insurance company, and ABP Trust and its subsidiaries. During the six months ended March 31, 2016 , RMR LLC provided certain transition services to Equity Commonwealth, or EQC, a publicly traded REIT that primarily owns office properties. RMR Advisors LLC, a Maryland limited liability company, or RMR Advisors, was founded in 2002. RMR Advisors is a wholly owned subsidiary of RMR LLC and is the adviser to RMR Real Estate Income Fund, or RIF. RIF is a closed end investment company focused on investing in real estate securities, including REITs and other dividend paying securities, but excluding our Client Companies, as defined below. On August 5, 2016, we acquired certain assets of Tremont Realty Capital LLC, or the Tremont business, which principally originates and manages real estate debt and debt like financings and serves as adviser to a private fund created for an institutional investor and other separately managed accounts. As part of this transaction, Tremont Realty Advisors LLC, or Tremont Advisors, a wholly owned subsidiary of RMR LLC founded in 2016 and an investment advisor registered with the Securities and Exchange Commission, or SEC, was assigned the investment management contracts of the Tremont business. Tremont Advisors manages a private fund created for an institutional investor and other separately managed accounts that invest in commercial real estate debt, including secured mortgage debt, mezzanine financings and commercial real estate that may become owned by its clients. RMR International LLC, a Maryland limited liability company, or RMR Intl, was founded in 2012. RMR Intl is a wholly owned subsidiary of RMR LLC whose sole business is holding the equity interests of RMR Australia Asset Management Pty Ltd, or RMR Australia, a company founded in 2012 to manage certain investments of a company then managed by RMR LLC in Australia. RMR Australia continues to hold an Australian financial services license granted by the Australian Securities & Investments Commission but has ceased operations subsequent to the termination of services being provided to EQC as of October 31, 2015. In these financial statements, we refer to the Managed REITs, the Managed Operators, RIF, AIC, ABP Trust and the clients of the Tremont business as our Client Companies. The accompanying condensed consolidated financial statements of RMR Inc. are unaudited. Certain information and disclosures required by U.S. generally accepted accounting principles, or GAAP, for complete financial statements have been condensed or omitted. We believe the disclosures made are adequate to make the information presented not misleading. However, the accompanying condensed consolidated financial statements should be read in conjunction with the financial statements and notes contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2016, or our Annual Report. In the opinion of our management, all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation, have been included. All intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. Our operating results for interim periods are not necessarily indicative of the results that may be expected for the full year. Reclassifications have been made to the prior year's condensed consolidated financial statements to conform to the current year's presentation. Preparation of these financial statements in conformity with GAAP requires our management to make certain estimates and assumptions that may affect the amounts reported in these financial statements and related notes. The actual results could differ from these estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers . The main provision of ASU No. 2014-09 is to recognize revenue when control of the goods or services transfers to the customer, as opposed to the existing guidance of recognizing revenue when the risk and rewards transfer to the customer. In July 2015, the FASB approved a one year deferral of the effective date for this ASU to interim and annual reporting periods beginning after December 15, 2017. We are continuing to evaluate this guidance; however, we do not expect its adoption to have a material impact on our condensed consolidated financial statements as our revenue recognition is expected to be unchanged under this new guidance, including variable consideration attributable to incentive fees. In February 2016, the FASB issued ASU No. 2016-02, Leases , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU No. 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASU No. 2016-02 is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently assessing the potential impact the adoption of ASU No. 2016-02 will have on our condensed consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 will become effective for fiscal years beginning after December 15, 2019. We are continuing to assess this guidance, but we have not historically experienced credit losses from our Client Companies and do not expect the adoption of ASU No. 2016-13 to have a material impact on our condensed consolidated financial statements. In January, 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other . This update simplifies the calculation of an impairment to goodwill by removing the requirement of allocating a reporting unit’s fair value (including unrecognized intangible assets) as if the reporting unit had been acquired in a business combination. ASU No. 2017-04 is effective for reporting periods beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of ASU No. 2017-04 to have a material impact on our condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Mar. 31, 2017
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Revenues from services that we provide are recognized as earned in accordance with contractual agreements. In the periods presented, management and advisory services revenue consists principally of business management fees, property management fees and advisory fees earned from our Client Companies and EQC. Business Management and Incentive Fees—Managed REITs We earn annual base business management fees from the Managed REITs pursuant to business management agreements equal to the lesser of: • the sum of (a) 0.5% of the historical cost of transferred real estate assets, if any, as defined in the applicable business management agreement, plus (b) 0.7% of the average invested capital (exclusive of the transferred real estate assets), as defined in the applicable business management agreement, up to $250,000 , plus (c) 0.5% of the average invested capital exceeding $250,000 ; and • the sum of (a) 0.7% of the average market capitalization, as defined in the applicable business management agreement, up to $250,000 , plus (b) 0.5% of the average market capitalization exceeding $250,000 . The foregoing base business management fees are paid monthly in arrears, based on the lower of the Managed REIT’s monthly average historical costs of assets under management and average market capitalization during the month. For purposes of these fees, a Managed REIT’s assets under management do not include shares it owns of another Client Company. We also may earn annual incentive business management fees from the Managed REITs under the business management agreements. The incentive business management fees are contingent performance based fees which are only recognized when earned at the end of each respective measurement period. The incentive fees are calculated for each Managed REIT as 12.0% of the product of (a) the equity market capitalization of the Managed REIT, as defined in the applicable business management agreement, and (b) the amount, expressed as a percentage, by which the Managed REIT’s total return per share, as defined in the applicable business management agreement, exceeded the benchmark total return per share, as defined in the applicable business management agreement, of a specified REIT index identified in the applicable business management agreement for the measurement period, subject to caps on the values of the incentive fees. The measurement period for the annual incentive fee in respect of calendar year 2016 was the three year period that ended on December 31, 2016 and in respect of calendar year 2015 was the two year period that ended on December 31, 2015. The measurement period for the annual incentive fee in respect of the current calendar year and calendar years thereafter is the three year period ending on December 31 of the applicable calendar year. We earned aggregate base business management fees from the Managed REITs of $28,413 and $24,829 for the three months ended March 31, 2017 and 2016 , respectively, and $56,173 and $50,005 for the six months ended March 31, 2017 and 2016 , respectively. We earned aggregate incentive business management fees from the Managed REITs of $52,407 and $62,263 for the six months ended March 31, 2017 and 2016 , respectively, all of which was earned during the three months ended December 31, 2016 and 2015, respectively. Incentive business management fees recognized as earned in the six months ended March 31, 2017 and 2016 were earned in respect of the 2016 and 2015 calendar years, respectively. Business Management Fees—Managed Operators, ABP Trust and AIC We earn business management fees from the Managed Operators and ABP Trust pursuant to business management agreements equal to 0.6% of: (i) in the case of Five Star, Five Star’s revenues from all sources reportable under GAAP, less any revenues reportable by Five Star with respect to properties for which it provides management services, plus the gross revenues at those properties determined in accordance with GAAP, (ii) in the case of Sonesta, Sonesta’s revenues from all sources reportable under GAAP, less any revenues reportable by Sonesta with respect to hotels for which it provides management services, plus the gross revenues at those hotels determined in accordance with GAAP, (iii) in the case of TA, the sum of TA’s gross fuel margin, as defined in the applicable agreement, plus TA’s total nonfuel revenues and (iv) in the case of ABP Trust, revenues from all sources reportable under GAAP. These fees are estimated and payable monthly in advance. We earn business management fees from AIC pursuant to a management agreement equal to 3.0% of its total premiums paid under active insurance underwritten or arranged by AIC. We earned aggregate business management fees from the Managed Operators, ABP Trust and AIC of $6,183 and $6,091 for the three months ended March 31, 2017 and 2016 , respectively, and $12,722 and $12,317 for the six months ended March 31, 2017 and 2016 , respectively. Property Management Fees We earned property management fees pursuant to property management agreements with certain Client Companies. We generally earn fees under these agreements for property management services equal to 3.0% of gross collected rents. Also, under the terms of the property management agreements, we receive additional property management fees for construction supervision in connection with certain construction activities undertaken at the managed properties equal to 5.0% of the cost of such construction. We earned aggregate property management fees of $8,629 and $8,094 for the three months ended March 31, 2017 and 2016 , respectively, and $16,851 and $16,430 for the six months ended March 31, 2017 and 2016 , respectively. Reimbursable Payroll and Related Costs Pursuant to certain of our management agreements, the companies to which we provide management services pay or reimburse us for expenses incurred on their behalf. In accordance with FASB Accounting Standards Codification, or ASC, 605, Revenue Recognition , we present certain payroll and related cost reimbursements we receive as revenue. A significant portion of these reimbursable payroll and related costs arise from services we provide pursuant to our property management agreements that are charged or passed through to and are paid by tenants of our Client Companies. We realized reimbursable payroll and related costs of $10,034 and $8,759 for the three months ended March 31, 2017 and 2016 , respectively, and $19,184 and $16,249 for the six months ended March 31, 2017 and 2016 , respectively. Our reimbursable payroll and related costs include grants of common shares from Client Companies directly to certain of our officers and employees in connection with the provision of management services to those companies. The revenue in respect of each grant is based on the fair value as of the grant date for those shares that have vested, with subsequent changes in the fair value of the unvested grants being recognized in the condensed consolidated statements of comprehensive income over the requisite service period. We record an equal offsetting amount as compensation and benefits expense for all of our reimbursable payroll and related cost revenues. We realized equity based compensation expense and related reimbursements of $1,432 and $1,358 for the three months ended March 31, 2017 and 2016 , respectively, and $2,494 and $2,843 for the six months ended March 31, 2017 and 2016 , respectively. We report all other expenses we incur on behalf of our Client Companies on a net basis, as the management agreements provide that reimbursable expenses are to be billed directly to the client. This net basis accounting method is supported by some or all of the following factors, which we have determined define us as an agent rather than a principal with respect to these matters: • reimbursement to us is generally completed prior to payment of the related expenses; • the property owner is contractually obligated to fund such operating costs of the property from existing cash flow or direct funding from its building operating account and we bear little or no credit risk; • our clients are the primary obligor in relationships with the affected suppliers and service providers; and • we earn no margin on the reimbursement aspect of the arrangement, obtaining reimbursement only for actual costs incurred. Advisory Agreements and Other Services to Advisory Clients RMR Advisors is compensated pursuant to its agreement with RIF at an annual rate of 0.85% of RIF’s average daily managed assets, as defined in the agreement. Average daily managed assets includes the net asset value attributable to RIF’s outstanding common shares, plus the liquidation preference of RIF’s outstanding preferred shares plus the principal amount of any borrowings, including from banks or evidenced by notes, commercial paper or other similar instruments issued by RIF. RMR Advisors earned advisory fees of $607 and $560 for the three months ended March 31, 2017 and 2016 , respectively, and $1,213 and $1,141 for the six months ended March 31, 2017 and 2016 , respectively. Tremont Advisors is compensated pursuant to its agreement with a private fund created for an institutional investor at an annual rate of 1.35% of the weighted average outstanding balance of all strategic investments, as defined in the agreement, of the private fund. Strategic investments include any direct or indirect participating or non-participating debt investment in certain real estate. Tremont Advisors is also party to loan servicing agreements with its other separately managed account clients. Under such agreements, Tremont Advisors is compensated at an annual rate of 0.50% of the outstanding principal balance of the outstanding loans. In certain circumstances, Tremont Advisors is also entitled to performance fees based on exceeding certain performance targets. Performance fees are realized when a separately managed account client’s cumulative returns are in excess of the contractual preferred return. Tremont Advisors did not earn any performance fees for the three and six months ended March 31, 2017 . The Tremont business also acts as transaction originators for non-investment advisory clients for negotiated fees. For the three and six months ended March 31, 2017 , the Tremont business earned between 0.50% and 1.0% of the aggregate principal amounts of any loans so originated. For the three months ended March 31, 2017 , we earned management services revenue of $33 and advisory services revenue of $397 , and for the six months ended March 31, 2017 , we earned management services revenue of $239 and advisory services revenue of $801 . EQC Termination and Cooperation Agreement We provided certain transition services for EQC in Australia and earned zero and $58 for the three and six months ended March 31, 2016 , respectively, for these services.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are the sole managing member of RMR LLC. RMR LLC is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. RMR Intl, RMR Advisors and Tremont Advisors are wholly owned disregarded subsidiaries of RMR LLC for income tax purposes. As a partnership, RMR LLC is generally not subject to U.S. federal and most state income taxes. Any taxable income or loss generated by RMR LLC is passed through to and included in the taxable income or loss of its members, including RMR Inc. and ABP Trust, based on each member’s respective ownership percentage. We are a corporation subject to U.S. federal and state income tax with respect to our allocable share of any taxable income of RMR LLC and its wholly owned subsidiaries. For the three months ended March 31, 2017 and 2016 , we recognized income tax expense of $4,610 and $4,086 , respectively, which includes $4,050 and $3,645 , respectively, of U.S. federal income tax and $560 and $441 , respectively, of state income taxes. For the six months ended March 31, 2017 and 2016 , we recognized income tax expense of $20,283 and $15,400 , respectively, which includes $17,819 and $13,624 , respectively, of U.S. federal income tax and $2,464 and $1,776 , respectively, of state income taxes. A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Income taxes computed at the federal statutory rate 35.0 % 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 2.4 % 2.6 % 2.5 % 1.8 % Net income attributable to noncontrolling interest (16.8 )% (17.0 )% (16.9 )% (21.6 )% Total 20.6 % 20.6 % 20.6 % 15.2 % ASC 740, Income Taxes , provides a model for how a company should recognize, measure and present in its financial statements uncertain tax positions that have been taken or are expected to be taken with respect to all open years and in all significant jurisdictions. We recognize a tax benefit only if it is “more likely than not” that a particular tax position will be sustained upon examination or audit. To the extent the “more likely than not” standard has been satisfied, the benefit associated with a tax position is measured as the largest amount that is greater than 50% likely of being realized upon settlement. As of March 31, 2017 and September 30, 2016 , we have no uncertain tax positions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of March 31, 2017 and September 30, 2016 , the fair values of our financial instruments, which include cash and cash equivalents, amounts due from our Client Companies and accounts payable, accrued expenses and deposits, were not materially different from their carrying values, due to the short term nature of these financial instruments. Recurring Fair Value Measures On a recurring basis we measure certain financial assets and financial liabilities at fair value based upon quoted market prices. ASC 820, Fair Value Measurements , establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1), and the lowest priority to unobservable inputs (Level 3). A financial asset’s or financial liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Level 1 Estimates The following are our assets and liabilities that all have been measured at fair value using Level 1 inputs in the fair value hierarchy as of March 31, 2017 and September 30, 2016 : March 31, September 30, 2017 2016 Money market funds included in cash and cash equivalents $ 123,909 $ 57,741 Current portion of due from related parties related to share based payment awards 2,661 4,977 Long term portion of due from related parties related to share based payment awards 7,826 7,754 Current portion of employer compensation liability related to share based payment awards included in accounts payable, accrued expenses and deposits 2,661 4,977 Long term portion of employer compensation liability related to share based payment awards 7,826 7,754 Level 3 Estimates Contingent consideration liabilities are re-measured to fair value each reporting period using updated probabilities of payment. Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Increases or decreases in probabilities of payment may result in significant changes in the fair value measurements. In August 2016, we acquired the Tremont business for total cash consideration of $2,466 , plus a potential obligation to pay up to an additional $1,270 over a two year period following the acquisition date based on a portion of the payments that we receive from a specified part of the historical Tremont business. The contingent consideration is measured at fair value using an income approach valuation technique, specifically with probability weighted and discounted cash flows. The fair value of the contingent consideration as of March 31, 2017 and September 30, 2016 was $846 and $1,257 , respectively. On November 28, 2016, we were assigned the Tremont business's 0.5% general partnership interest in a private fund created for an institutional investor managed by the Tremont business. We account for this investment under the equity method of accounting and record our share of the investment's earnings or losses each period.

Related Person Transactions

Related Person Transactions	6 Months Ended
Related Person Transactions	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Person Transactions	Related Person Transactions As of March 31, 2017 , our Managing Directors own in aggregate, directly and indirectly through ABP Trust, (i) 146,048 shares of Class A common stock of RMR Inc., or Class A Common Shares; (ii) all of the outstanding shares of Class B-1 common stock of RMR Inc., or Class B-1 Common Shares; (iii) all of the outstanding shares of Class B-2 common stock of RMR Inc., or Class B-2 Common Shares; and (iv) 15,000,000 Class A Units. Our Managing Directors are also officers of RMR Inc. and officers of RMR LLC. Our Managing Directors are also managing trustees of each of the Managed REITs. As of March 31, 2017 , GOV, HPT, SIR and SNH owned 1,214,225 ; 2,503,777 ; 1,586,836 and 2,637,408 Class A Common Shares, respectively, and our Managing Directors beneficially owned, in aggregate, 2.5% of GOV’s common shares, 1.4% of HPT’s outstanding common shares, 1.9% of SIR’s outstanding common shares and 1.3% of SNH’s outstanding common shares. Barry M. Portnoy is a managing director of Five Star and of TA. As of March 31, 2017 , our Managing Directors beneficially owned, in aggregate, less than one percent of TA's outstanding common shares and 36.7% of Five Star’s outstanding common shares. Our Managing Directors are also the owners and directors of Sonesta and are directors of AIC. All of the executive officers of the Managed REITs and many of the executive officers of the Managed Operators are also officers of RMR LLC. Additional information about our related person transactions appears in Note 7 below. Revenues from Related Parties For the three and six months ended March 31, 2017 and 2016 , we recognized revenues from related parties as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 $ % $ % $ % $ % Managed REITs: GOV $ 8,938 16.4 % $ 7,830 16.2 % $ 17,163 10.7 % $ 15,041 9.5 % HPT 10,792 19.9 % 8,958 18.5 % 73,520 46.1 % 80,781 51.0 % SIR 11,062 20.4 % 10,175 21.1 % 22,019 13.8 % 19,898 12.6 % SNH 15,156 27.9 % 13,913 28.8 % 29,780 18.7 % 27,335 17.2 % 45,948 84.6 % 40,876 84.6 % 142,482 89.3 % 143,055 90.3 % Managed Operators: Five Star 2,403 4.4 % 2,310 4.8 % 4,767 3.0 % 4,722 3.0 % Sonesta 531 1.0 % 425 0.9 % 1,074 0.7 % 909 0.5 % TA 3,357 6.2 % 3,347 6.9 % 7,163 4.4 % 6,946 4.4 % 6,291 11.6 % 6,082 12.6 % 13,004 8.1 % 12,577 7.9 % Other: AIC 60 0.1 % 60 0.1 % 120 — % 120 0.1 % RIF 607 1.1 % 560 1.1 % 1,213 0.8 % 1,141 0.7 % ABP Trust 960 1.8 % 755 1.6 % 1,731 1.1 % 1,512 1.0 % 1,627 3.0 % 1,375 2.8 % 3,064 1.9 % 2,773 1.8 % Total revenues from related parties 53,866 99.2 % 48,333 100.0 % 158,550 99.3 % 158,405 100.0 % Other unrelated parties 430 0.8 % — — % 1,040 0.7 % 58 — % $ 54,296 100.0 % $ 48,333 100.0 % $ 159,590 100.0 % $ 158,463 100.0 % On December 31, 2016, RMR LLC earned a $52,407 incentive business management fee from HPT pursuant to our business management agreement with HPT. HPT paid this incentive fee to us in January 2017. In March 2017, RMR LLC entered into a management agreement with a subsidiary of SNH related to a medical office building located in Boston in connection with a joint venture arrangement for that building. Under that agreement, the SNH subsidiary pays RMR LLC certain business management fees, which fees are credited against the business management fees SNH pays to RMR LLC. We include these fees within the amount of business management fees we report as earned by RMR LLC from SNH. On December 31, 2015, RMR LLC earned a $62,263 incentive business management fee from HPT pursuant to our business management agreement with HPT. Under the RMR LLC operating agreement, ABP Trust was entitled to receive a pro rata share of any incentive business management fee earned by RMR LLC for the 2015 calendar year based on the number of days in 2015 to June 5, 2015; the portion of the $62,263 incentive fee allocated solely to ABP Trust pursuant to this provision was $26,611 . This $62,263 incentive fee was paid in January 2016. Amounts Due From Related Parties The following table represents amounts due from related parties as of the dates listed: March 31, September 30, 2017 2016 Managed REITs: GOV $ 5,458 $ 6,165 HPT 7,322 7,800 SIR 6,318 7,190 SNH 8,458 9,733 27,556 30,888 Managed Operators: Five Star 348 291 Sonesta 47 5 TA 658 711 1,053 1,007 Other Client Companies: AIC 20 21 RIF 73 17 ABP Trust 477 683 570 721 $ 29,179 $ 32,616 Leases As of March 31, 2017 , we leased from ABP Trust and certain Managed REITs office space for use as our headquarters and regional offices. We incurred rental expense under related party leases aggregating $1,059 and $1,041 for the three months ended March 31, 2017 and 2016 , respectively, and $2,109 and $2,113 for the six months ending March 31, 2017 and 2016 , respectively. Tax Related Payments Pursuant to our tax receivable agreement with ABP Trust, RMR Inc. pays to ABP Trust 85.0% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that RMR Inc. realizes as a result of (a) the increases in tax basis attributable to our dealings with ABP Trust and (b) tax benefits related to imputed interest deemed to be paid by us as a result of the tax receivable agreement. During the six months ended March 31, 2017 , we made no payments to ABP Trust pursuant to this agreement. As of March 31, 2017 , our condensed consolidated balance sheet reflects a liability related to the tax receivable agreement of $64,929 , including $2,900 classified as a current liability that we expect to pay to ABP Trust during the fourth quarter of fiscal year 2017. Under the RMR LLC operating agreement, RMR LLC is required to make certain pro rata distributions to each member of RMR LLC quarterly on the basis of the assumed tax liabilities of its members. For the six months ended March 31, 2017 , pursuant to the RMR LLC operating agreement, RMR LLC made required quarterly tax distributions to holders of its membership units totaling $37,500 , of which $19,402 was distributed to us and $18,098 was distributed to ABP Trust, based on each membership unit holder’s respective ownership percentage. The $19,402 distributed to us was eliminated in our condensed consolidated financial statements, and the $18,098 distributed to ABP Trust was recorded as a reduction of its noncontrolling interest. We used funds from these distributions for payment of certain U.S. federal and state income tax liabilities. We also expect to use funds from these distributions to pay part of our obligations under the tax receivable agreement. Other Quarterly Distributions In connection with dividends we declared and paid since October 1, 2016, RMR LLC made cash distributions to its members. See Note 7 for further information regarding these RMR LLC distributions.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Issuances On March 29, 2017, under our equity compensation plan, we granted 2,500 of our Class A Common Shares valued at $48.20 per share, the closing price of our Class A Common Shares on the Nasdaq Stock Market LLC on that day, to each of our Managing Directors and Independent Directors as part of their annual compensation. These Class A Common Shares awarded to our Independent Directors vested immediately and are included in general and administrative expense in our condensed consolidated statements of comprehensive income. In connection with the grant of Class A Common Shares to our Managing Directors and Independent Directors, RMR LLC concurrently issued 12,500 Class A Units to RMR Inc., consistent with the terms of the RMR LLC operating agreement. On March 29, 2017, we withheld 375 of the Class A Common Shares awarded to one of our Independent Directors to fund that Independent Director's resulting minimum required tax withholding obligation. The aggregate value of the withheld shares was $18 , which is reflected as a decrease to shareholders' equity in our condensed consolidated balance sheet. In connection with the acquisition of 375 Class A Common Shares, and as required by the RMR LLC operating agreement, RMR LLC concurrently acquired 375 Class A Units from RMR Inc. Distributions On November 17, 2016, we paid a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares, in the amount of $0.25 per Class A Common Share and Class B-1 Common Share, or $4,021 . This dividend was paid to our shareholders of record as of the close of business on October 21, 2016. This dividend was funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.25 per unit, or $7,771 , of which $4,021 was distributed to us based on our then aggregate ownership of 16,082,432 membership units of RMR LLC and $3,750 was distributed to ABP Trust based on its ownership of 15,000,000 membership units of RMR LLC. On February 21, 2017, we paid a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares, in the amount of $0.25 per Class A Common Share and Class B-1 Common Share, or $4,020 . This dividend was paid to our shareholders of record as of the close of business on January 23, 2017. This dividend was funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.25 per unit, or $7,770 , of which $4,020 was distributed to us based on our then aggregate ownership of 16,082,432 membership units of RMR LLC and $3,750 was distributed to ABP Trust based on its ownership of 15,000,000 membership units of RMR LLC. On April 11, 2017, we declared a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares payable to our shareholders of record as of April 21, 2017, in the amount of $0.25 per Class A Common Share and Class B-1 Common Share, or $4,024 . This dividend will be funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.25 per unit, or $7,774 , of which $4,024 will be distributed to us based on our then aggregate ownership of 16,094,557 membership units of RMR LLC and $3,750 will be distributed to ABP Trust based on its ownership of 15,000,000 membership units of RMR LLC. We expect to pay this dividend on or about May 18, 2017.

Per Common Share Amounts

Per Common Share Amounts	6 Months Ended
Per Common Share Amounts	Mar. 31, 2017
Earnings Per Share [Abstract]
Per Common Share Amounts	Per Common Share Amounts Earnings per common share reflects net income attributable to RMR Inc. divided by our weighted average common shares outstanding. Basic and diluted weighted average common shares outstanding represents our outstanding 15,094,557 Class A Common Shares and our 1,000,000 Class B-1 Common Shares during the applicable periods. Our Class B-2 Common Shares, which are paired with ABP Trust’s Class A Units, have no independent economic interest in RMR Inc. and thus are not included as common stock outstanding for purposes of calculating our net income attributable to RMR Inc. per share. Unvested Class A Common Shares granted to our employees are deemed participating securities for purposes of calculating earnings per common share, as they have dividend rights. We calculate earnings per share using the two-class method. Under the two-class method, we allocate earnings proportionately to vested Class A Common Shares, Class B Common Shares and unvested Class A Common Shares outstanding for the period. Earnings attributable to unvested Class A Common Shares are excluded from earnings per share under the two-class method as reflected in our condensed consolidated statements of comprehensive income. The calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Basic EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating basic EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Net income attributable to RMR Inc. per common share - basic $ 0.43 $ 0.38 $ 1.89 $ 1.45 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating diluted EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Dilutive effect of incremental unvested shares 17 — 11 — Weighted average common shares outstanding - diluted 16,042 16,002 16,036 16,001 Net income attributable to RMR Inc. per common share - diluted $ 0.43 $ 0.38 $ 1.89 $ 1.45 The 15,000,000 Class A Units that we do not own may be redeemed for our Class A Common Shares on a one for one basis, or upon such redemption, we may elect to pay cash instead of issuing Class A Common Shares. Upon redemption of a Class A Unit, our Class B-2 Common Share “paired” with such unit is cancelled for no additional consideration. If all outstanding Class A Units that we do not own were redeemed for our Class A Common Shares in the periods presented, our Class A Common Shares outstanding as of March 31, 2017, would have been 30,094,557 . In computing the dilutive effect, if any, that the aforementioned redemption would have on earnings per share, we considered that net income available to holders of our Class A Common Shares would increase due to elimination of the noncontrolling interest (including any tax impact). For the periods presented, such redemption is not reflected in diluted earnings per share as the assumed redemption would be anti-dilutive.

Net Income Attributable to RMR

Net Income Attributable to RMR Inc	6 Months Ended
Net Income Attributable to RMR Inc	Mar. 31, 2017
Net Income Attributable to RMR Inc.
Net Income Attributable to RMR Inc.	Net Income Attributable to RMR Inc. Net income attributable to RMR Inc. for the three and six months ended March 31, 2017 and 2016 , is calculated as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Income before income tax expense $ 22,523 $ 19,834 $ 98,396 $ 101,527 Add: RMR Inc. franchise tax expense and interest income 155 71 309 225 Less: equity in loss of investee (165 ) — (165 ) — Less: incentive fee allocable to ABP Trust (1) — — — (26,611 ) Net income before noncontrolling interest 22,513 19,905 98,540 75,141 Less: noncontrolling interest (10,865 ) (9,634 ) (47,555 ) (36,348 ) Net income attributable to RMR Inc. before income tax expense 11,648 10,271 50,985 38,793 Less: income tax expense attributable to RMR Inc. (4,610 ) (4,086 ) (20,283 ) (15,400 ) Less: RMR Inc. franchise tax expense and interest income (155 ) (71 ) (309 ) (225 ) Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 (1) Under the RMR LLC operating agreement, ABP Trust was entitled to receive a pro rata share of any incentive business management fee earned for the 2015 calendar year, based on the number of days in 2015 to June 5, 2015. Accordingly, $26,611 of the incentive business management fee earned on December 31, 2015 was allocated to ABP Trust.

Segment Reporting

Segment Reporting	6 Months Ended
Segment Reporting	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We have one separately reportable business segment, which is RMR LLC. In the tables below, our All Other Operations includes the operations of RMR Inc., RMR Advisors, Tremont Advisors and RMR Intl. Three Months Ended March 31, 2017 All Other RMR LLC (1) Operations Total Revenues Management services $ 43,258 $ — $ 43,258 Reimbursable payroll and related costs 10,034 — 10,034 Advisory services — 1,004 1,004 Total revenues 53,292 1,004 54,296 Expenses Compensation and benefits 24,066 483 24,549 General and administrative 6,792 354 7,146 Depreciation and amortization 382 146 528 Total expenses 31,240 983 32,223 Operating income 22,052 21 22,073 Interest and other income 181 269 450 Income before income tax expense and equity in loss of investee 22,233 290 22,523 Income tax expense — (4,610 ) (4,610 ) Equity in loss of investee — (165 ) (165 ) Net income (loss) $ 22,233 $ (4,485 ) $ 17,748 (1) Intersegment revenues of $120 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2017 All Other RMR LLC (1) Operations Total Revenues Management services $ 138,392 $ — $ 138,392 Reimbursable payroll and related costs 19,184 — 19,184 Advisory services — 2,014 2,014 Total revenues 157,576 2,014 159,590 Expenses Compensation and benefits 46,754 1,027 47,781 General and administrative 12,482 505 12,987 Depreciation and amortization 751 332 1,083 Total expenses 59,987 1,864 61,851 Operating income 97,589 150 97,739 Interest and other income 280 377 657 Income before income tax expense and equity in loss of investee 97,869 527 98,396 Income tax expense — (20,283 ) (20,283 ) Equity in loss of investee — (165 ) (165 ) Net income (loss) $ 97,869 $ (19,921 ) $ 77,948 (1) Intersegment revenues of $651 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Three Months Ended March 31, 2016 All Other RMR LLC (1) Operations Total Revenues Management services $ 39,014 $ — $ 39,014 Reimbursable payroll and related costs 8,759 — 8,759 Advisory services — 560 560 Total revenues 47,773 560 48,333 Expenses Compensation and benefits 21,286 275 21,561 General and administrative 6,294 194 6,488 Depreciation and amortization 501 — 501 Total expenses 28,081 469 28,550 Operating income 19,692 91 19,783 Interest and other income 50 1 51 Income before income tax expense 19,742 92 19,834 Income tax expense — (4,086 ) (4,086 ) Net income (loss) $ 19,742 $ (3,994 ) $ 15,748 (1) Intersegment revenues of $186 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2016 All Other RMR LLC (1) Operations Total Revenues Management services $ 141,015 $ 58 $ 141,073 Reimbursable payroll and related costs 16,249 — 16,249 Advisory services — 1,141 1,141 Total revenues 157,264 1,199 158,463 Expenses Compensation and benefits 42,267 598 42,865 General and administrative 12,619 544 13,163 Depreciation and amortization 984 — 984 Total expenses 55,870 1,142 57,012 Operating income 101,394 57 101,451 Interest and other income 75 1 76 Income before income tax expense 101,469 58 101,527 Income tax expense (1 ) (15,399 ) (15,400 ) Net income (loss) $ 101,468 $ (15,341 ) $ 86,127 (1) Intersegment revenues of $370 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements.

Recent Accounting Pronounceme17

Recent Accounting Pronouncements (Policies)	6 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers . The main provision of ASU No. 2014-09 is to recognize revenue when control of the goods or services transfers to the customer, as opposed to the existing guidance of recognizing revenue when the risk and rewards transfer to the customer. In July 2015, the FASB approved a one year deferral of the effective date for this ASU to interim and annual reporting periods beginning after December 15, 2017. We are continuing to evaluate this guidance; however, we do not expect its adoption to have a material impact on our condensed consolidated financial statements as our revenue recognition is expected to be unchanged under this new guidance, including variable consideration attributable to incentive fees. In February 2016, the FASB issued ASU No. 2016-02, Leases , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU No. 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASU No. 2016-02 is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently assessing the potential impact the adoption of ASU No. 2016-02 will have on our condensed consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 will become effective for fiscal years beginning after December 15, 2019. We are continuing to assess this guidance, but we have not historically experienced credit losses from our Client Companies and do not expect the adoption of ASU No. 2016-13 to have a material impact on our condensed consolidated financial statements. In January, 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other . This update simplifies the calculation of an impairment to goodwill by removing the requirement of allocating a reporting unit’s fair value (including unrecognized intangible assets) as if the reporting unit had been acquired in a business combination. ASU No. 2017-04 is effective for reporting periods beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of ASU No. 2017-04 to have a material impact on our condensed consolidated financial statements.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of reconciliation of the statutory income tax rate to the effective tax rate	A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Income taxes computed at the federal statutory rate 35.0 % 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 2.4 % 2.6 % 2.5 % 1.8 % Net income attributable to noncontrolling interest (16.8 )% (17.0 )% (16.9 )% (21.6 )% Total 20.6 % 20.6 % 20.6 % 15.2 %

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value	The following are our assets and liabilities that all have been measured at fair value using Level 1 inputs in the fair value hierarchy as of March 31, 2017 and September 30, 2016 : March 31, September 30, 2017 2016 Money market funds included in cash and cash equivalents $ 123,909 $ 57,741 Current portion of due from related parties related to share based payment awards 2,661 4,977 Long term portion of due from related parties related to share based payment awards 7,826 7,754 Current portion of employer compensation liability related to share based payment awards included in accounts payable, accrued expenses and deposits 2,661 4,977 Long term portion of employer compensation liability related to share based payment awards 7,826 7,754

Related Person Transactions (Ta

Related Person Transactions (Tables)	6 Months Ended
Related Person Transactions (Tables)	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of related party transactions	The following table represents amounts due from related parties as of the dates listed: March 31, September 30, 2017 2016 Managed REITs: GOV $ 5,458 $ 6,165 HPT 7,322 7,800 SIR 6,318 7,190 SNH 8,458 9,733 27,556 30,888 Managed Operators: Five Star 348 291 Sonesta 47 5 TA 658 711 1,053 1,007 Other Client Companies: AIC 20 21 RIF 73 17 ABP Trust 477 683 570 721 $ 29,179 $ 32,616 For the three and six months ended March 31, 2017 and 2016 , we recognized revenues from related parties as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 $ % $ % $ % $ % Managed REITs: GOV $ 8,938 16.4 % $ 7,830 16.2 % $ 17,163 10.7 % $ 15,041 9.5 % HPT 10,792 19.9 % 8,958 18.5 % 73,520 46.1 % 80,781 51.0 % SIR 11,062 20.4 % 10,175 21.1 % 22,019 13.8 % 19,898 12.6 % SNH 15,156 27.9 % 13,913 28.8 % 29,780 18.7 % 27,335 17.2 % 45,948 84.6 % 40,876 84.6 % 142,482 89.3 % 143,055 90.3 % Managed Operators: Five Star 2,403 4.4 % 2,310 4.8 % 4,767 3.0 % 4,722 3.0 % Sonesta 531 1.0 % 425 0.9 % 1,074 0.7 % 909 0.5 % TA 3,357 6.2 % 3,347 6.9 % 7,163 4.4 % 6,946 4.4 % 6,291 11.6 % 6,082 12.6 % 13,004 8.1 % 12,577 7.9 % Other: AIC 60 0.1 % 60 0.1 % 120 — % 120 0.1 % RIF 607 1.1 % 560 1.1 % 1,213 0.8 % 1,141 0.7 % ABP Trust 960 1.8 % 755 1.6 % 1,731 1.1 % 1,512 1.0 % 1,627 3.0 % 1,375 2.8 % 3,064 1.9 % 2,773 1.8 % Total revenues from related parties 53,866 99.2 % 48,333 100.0 % 158,550 99.3 % 158,405 100.0 % Other unrelated parties 430 0.8 % — — % 1,040 0.7 % 58 — % $ 54,296 100.0 % $ 48,333 100.0 % $ 159,590 100.0 % $ 158,463 100.0 %

Per Common Share Amounts (Table

Per Common Share Amounts (Tables)	6 Months Ended
Per Common Share Amounts (Tables)	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method	The calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Basic EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating basic EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Net income attributable to RMR Inc. per common share - basic $ 0.43 $ 0.38 $ 1.89 $ 1.45 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating diluted EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Dilutive effect of incremental unvested shares 17 — 11 — Weighted average common shares outstanding - diluted 16,042 16,002 16,036 16,001 Net income attributable to RMR Inc. per common share - diluted $ 0.43 $ 0.38 $ 1.89 $ 1.45
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Basic EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating basic EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Net income attributable to RMR Inc. per common share - basic $ 0.43 $ 0.38 $ 1.89 $ 1.45 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 Income attributable to unvested participating securities (14 ) — (29 ) — Net income attributable to RMR Inc. used in calculating diluted EPS $ 6,869 $ 6,114 $ 30,364 $ 23,168 Denominator: Weighted average common shares outstanding - basic 16,025 16,002 16,025 16,001 Dilutive effect of incremental unvested shares 17 — 11 — Weighted average common shares outstanding - diluted 16,042 16,002 16,036 16,001 Net income attributable to RMR Inc. per common share - diluted $ 0.43 $ 0.38 $ 1.89 $ 1.45

Net Income Attributable to RM22

Net Income Attributable to RMR Inc (Tables)	6 Months Ended
Net Income Attributable to RMR Inc (Tables)	Mar. 31, 2017
Net Income Attributable to RMR Inc.
Schedule of net income attributable to parent	Net income attributable to RMR Inc. for the three and six months ended March 31, 2017 and 2016 , is calculated as follows: Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Income before income tax expense $ 22,523 $ 19,834 $ 98,396 $ 101,527 Add: RMR Inc. franchise tax expense and interest income 155 71 309 225 Less: equity in loss of investee (165 ) — (165 ) — Less: incentive fee allocable to ABP Trust (1) — — — (26,611 ) Net income before noncontrolling interest 22,513 19,905 98,540 75,141 Less: noncontrolling interest (10,865 ) (9,634 ) (47,555 ) (36,348 ) Net income attributable to RMR Inc. before income tax expense 11,648 10,271 50,985 38,793 Less: income tax expense attributable to RMR Inc. (4,610 ) (4,086 ) (20,283 ) (15,400 ) Less: RMR Inc. franchise tax expense and interest income (155 ) (71 ) (309 ) (225 ) Net income attributable to RMR Inc. $ 6,883 $ 6,114 $ 30,393 $ 23,168 (1) Under the RMR LLC operating agreement, ABP Trust was entitled to receive a pro rata share of any incentive business management fee earned for the 2015 calendar year, based on the number of days in 2015 to June 5, 2015. Accordingly, $26,611 of the incentive business management fee earned on December 31, 2015 was allocated to ABP Trust.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
Segment Reporting (Tables)	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of segment reporting information	Three Months Ended March 31, 2017 All Other RMR LLC (1) Operations Total Revenues Management services $ 43,258 $ — $ 43,258 Reimbursable payroll and related costs 10,034 — 10,034 Advisory services — 1,004 1,004 Total revenues 53,292 1,004 54,296 Expenses Compensation and benefits 24,066 483 24,549 General and administrative 6,792 354 7,146 Depreciation and amortization 382 146 528 Total expenses 31,240 983 32,223 Operating income 22,052 21 22,073 Interest and other income 181 269 450 Income before income tax expense and equity in loss of investee 22,233 290 22,523 Income tax expense — (4,610 ) (4,610 ) Equity in loss of investee — (165 ) (165 ) Net income (loss) $ 22,233 $ (4,485 ) $ 17,748 (1) Intersegment revenues of $120 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2017 All Other RMR LLC (1) Operations Total Revenues Management services $ 138,392 $ — $ 138,392 Reimbursable payroll and related costs 19,184 — 19,184 Advisory services — 2,014 2,014 Total revenues 157,576 2,014 159,590 Expenses Compensation and benefits 46,754 1,027 47,781 General and administrative 12,482 505 12,987 Depreciation and amortization 751 332 1,083 Total expenses 59,987 1,864 61,851 Operating income 97,589 150 97,739 Interest and other income 280 377 657 Income before income tax expense and equity in loss of investee 97,869 527 98,396 Income tax expense — (20,283 ) (20,283 ) Equity in loss of investee — (165 ) (165 ) Net income (loss) $ 97,869 $ (19,921 ) $ 77,948 (1) Intersegment revenues of $651 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Three Months Ended March 31, 2016 All Other RMR LLC (1) Operations Total Revenues Management services $ 39,014 $ — $ 39,014 Reimbursable payroll and related costs 8,759 — 8,759 Advisory services — 560 560 Total revenues 47,773 560 48,333 Expenses Compensation and benefits 21,286 275 21,561 General and administrative 6,294 194 6,488 Depreciation and amortization 501 — 501 Total expenses 28,081 469 28,550 Operating income 19,692 91 19,783 Interest and other income 50 1 51 Income before income tax expense 19,742 92 19,834 Income tax expense — (4,086 ) (4,086 ) Net income (loss) $ 19,742 $ (3,994 ) $ 15,748 (1) Intersegment revenues of $186 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2016 All Other RMR LLC (1) Operations Total Revenues Management services $ 141,015 $ 58 $ 141,073 Reimbursable payroll and related costs 16,249 — 16,249 Advisory services — 1,141 1,141 Total revenues 157,264 1,199 158,463 Expenses Compensation and benefits 42,267 598 42,865 General and administrative 12,619 544 13,163 Depreciation and amortization 984 — 984 Total expenses 55,870 1,142 57,012 Operating income 101,394 57 101,451 Interest and other income 75 1 76 Income before income tax expense 101,469 58 101,527 Income tax expense (1 ) (15,399 ) (15,400 ) Net income (loss) $ 101,468 $ (15,341 ) $ 86,127 (1) Intersegment revenues of $370 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements.

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
Basis of Presentation (Details)	Mar. 31, 2017shares
Class B membership units
Related Party Transaction [Line Items]
Membership units (in units)	1,000,000
RMR LLC
Related Party Transaction [Line Items]
Ownership percentage	51.80%
Class A common shares \| Class A membership units
Related Party Transaction [Line Items]
Membership units (in units)	15,094,557
Capital Unit Redeemable Class A Units \| ABP Trust
Related Party Transaction [Line Items]
Membership units (in units)	15,000,000
Ownership percentage	48.20%

Revenue Recognition (Details)

Revenue Recognition (Details) - Managed REITs - USD ($)	6 Months Ended
Revenue Recognition (Details) - Managed REITs - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Business Management and Incentive Fees
Business management fees as a percentage of transferred real estate assets	0.50%
Business management fees as a percentage of average invested capital below the threshold limit	0.70%
Maximum threshold amount for calculating the business management fees	$ 250,000,000
Business management fees as a percentage of average invested capital above the threshold limit	0.50%
Minimum threshold amount for calculating the business management fees	$ 250,000,000
Business management fees as a percent of average market capitalization below the threshold limit	0.70%
Business management fees as a percent of average market capitalization above the threshold limit	0.50%
Contingent incentive business management fee percentage	12.00%
Measurement period for calculating the annual incentive fee as of December 31, 2015	3 years	2 years
Measurement period for calculating the annual incentive fee after December 31, 2015	3 years

Revenue Recognition - Business

Revenue Recognition - Business Management Fees (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Jan. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Managed REITs
Related Party Transaction [Line Items]
Aggregate base business management fees				$ 28,413	$ 24,829	$ 56,173	$ 50,005
Aggregate incentive business management fees	$ 52,407	$ 62,263	$ 62,263			$ 52,407	62,263
Managed Operators, ABP Trust and AIC
Related Party Transaction [Line Items]
Business management fee percent based on management agreements						0.60%
Aggregate business management fees				$ 6,183	$ 6,091	$ 12,722	$ 12,317
AIC
Related Party Transaction [Line Items]
Business management fee percent based on total premiums paid						3.00%

Revenue Recognition - Property

Revenue Recognition - Property Management Fees (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Property management fee percent based on gross collected rents			3.00%
Property management fee percent based on the cost of construction			5.00%
Aggregate property management fees	$ 8,629	$ 8,094	$ 16,851	$ 16,430

Revenue Recognition - Reimbursa

Revenue Recognition - Reimbursable Payroll and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Deferred Revenue Disclosure [Abstract]
Reimbursable payroll and related costs	$ 10,034	$ 8,759	$ 19,184	$ 16,249
Equity based compensation expense and related reimbursements	$ 1,432	$ 1,358	$ 2,494	$ 2,843

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Advisory fees	$ 1,004	$ 560	$ 2,014	$ 1,141
Management services revenue	43,258	39,014	$ 138,392	141,073
Termination and Cooperation Agreement
Related Party Transaction [Line Items]
Transition services revenue		0		58
RIF
Related Party Transaction [Line Items]
Advisory fee percent			0.85%
RMR Advisors and Tremont Advisors
Related Party Transaction [Line Items]
Advisory fees	607	$ 560	$ 1,213	$ 1,141
Tremont Advisors
Related Party Transaction [Line Items]
Advisory fees	397		801
Management services revenue	$ 33		$ 239
Tremont Advisors
Related Party Transaction [Line Items]
Advisory fee percentage based on weighted average outstanding balance of strategic investments			1.35%
Advisory fee percentage based on outstanding principal balance of outstanding loans			0.50%
Minimum \| Tremont Advisors
Related Party Transaction [Line Items]
Advisory fee percentage based on aggregate principal amounts of loan originate	0.50%		0.50%
Maximum \| Tremont Advisors
Related Party Transaction [Line Items]
Advisory fee percentage based on aggregate principal amounts of loan originate	1.00%		1.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 4,610	$ 4,086	$ 20,283	$ 15,400
Federal income tax expense	4,050	3,645	17,819	13,624
State income tax expense	$ 560	$ 441	$ 2,464	$ 1,776

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended		6 Months Ended
Income Taxes - Reconciliation of Income Tax Rate (Details)	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income taxes computed at the federal statutory rate	35.00%	35.00%	35.00%	35.00%
State taxes, net of federal benefit	2.40%	2.60%	2.50%	1.80%
Net income attributable to noncontrolling interest	(16.80%)	(17.00%)	(16.90%)	(21.60%)
Total	20.60%	20.60%	20.60%	15.20%

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Details) - Recurring basis - Level 1 - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Schedule of assets and liabilities measured at fair value
Money market funds included in cash and cash equivalents	$ 123,909	$ 57,741
Current portion of due from related parties related to share based payment awards	2,661	4,977
Long term portion of due from related parties related to share based payment awards	7,826	7,754
Current portion of employer compensation liability related to share based payment awards included in accounts payable, accrued expenses and deposits	2,661	4,977
Long term portion of employer compensation liability related to share based payment awards	$ 7,826	$ 7,754

Fair Value of Financial Instr33

Fair Value of Financial Instruments - Additional Information (Details) - Tremont Realty Capital LLC - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Aug. 31, 2016	Mar. 31, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Cash consideration	$ 2,466
Contingent consideration	$ 1,270	$ 846	$ 1,257
Duration of potential earn out	2 years
General Partner
Business Acquisition [Line Items]
Ownership percentage acquired		0.50%

Related Person Transactions (De

Related Person Transactions (Details) - shares	Mar. 31, 2017	Sep. 30, 2016
ABP Trust \| Class A common shares
Related Party Transaction [Line Items]
Common stock shares outstanding	146,048
ABP Trust \| Class A Units
Related Party Transaction [Line Items]
Common stock shares outstanding	15,000,000
GOV \| Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	1,214,225
HPT \| Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	2,503,777
SIR \| Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	1,586,836
SNH \| Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	2,637,408
Class A common shares
Related Party Transaction [Line Items]
Common stock shares outstanding	15,094,557	15,082,432
GOV
Related Party Transaction [Line Items]
Ownership percentage	2.50%
HPT
Related Party Transaction [Line Items]
Ownership percentage	1.40%
SIR
Related Party Transaction [Line Items]
Ownership percentage	1.90%
SNH
Related Party Transaction [Line Items]
Ownership percentage	1.30%
TA
Related Party Transaction [Line Items]
Ownership percentage	1.00%
Common shares \| Five Star \| Barry Portnoy
Related Party Transaction [Line Items]
Equity method investment ownership percentage	36.70%

Related Person Transactions - R

Related Person Transactions - Revenues from Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Revenue from related parties	$ 53,866	$ 48,333	$ 158,550	$ 158,405
Percentage of revenues from related parties	99.20%	100.00%	99.30%	100.00%
Revenue from unrelated parties	$ 430	$ 0	$ 1,040	$ 58
Percentage of revenues from unrelated parties	0.80%	0.00%	0.70%	0.00%
Total revenues	$ 54,296	$ 48,333	$ 159,590	$ 158,463
Percentage of revenue from related parties, net	100.00%	100.00%	100.00%	100.00%
Managed REITs
Related Party Transaction [Line Items]
Revenue from related parties	$ 45,948	$ 40,876	$ 142,482	$ 143,055
Percentage of revenues from related parties	84.60%	84.60%	89.30%	90.30%
GOV
Related Party Transaction [Line Items]
Revenue from related parties	$ 8,938	$ 7,830	$ 17,163	$ 15,041
Percentage of revenues from related parties	16.40%	16.20%	10.70%	9.50%
HPT
Related Party Transaction [Line Items]
Revenue from related parties	$ 10,792	$ 8,958	$ 73,520	$ 80,781
Percentage of revenues from related parties	19.90%	18.50%	46.10%	51.00%
SIR
Related Party Transaction [Line Items]
Revenue from related parties	$ 11,062	$ 10,175	$ 22,019	$ 19,898
Percentage of revenues from related parties	20.40%	21.10%	13.80%	12.60%
SNH
Related Party Transaction [Line Items]
Revenue from related parties	$ 15,156	$ 13,913	$ 29,780	$ 27,335
Percentage of revenues from related parties	27.90%	28.80%	18.70%	17.20%
Managed Operators
Related Party Transaction [Line Items]
Revenue from related parties	$ 6,291	$ 6,082	$ 13,004	$ 12,577
Percentage of revenues from related parties	11.60%	12.60%	8.10%	7.90%
Five Star
Related Party Transaction [Line Items]
Revenue from related parties	$ 2,403	$ 2,310	$ 4,767	$ 4,722
Percentage of revenues from related parties	4.40%	4.80%	3.00%	3.00%
Sonesta
Related Party Transaction [Line Items]
Revenue from related parties	$ 531	$ 425	$ 1,074	$ 909
Percentage of revenues from related parties	1.00%	0.90%	0.70%	0.50%
TA
Related Party Transaction [Line Items]
Revenue from related parties	$ 3,357	$ 3,347	$ 7,163	$ 6,946
Percentage of revenues from related parties	6.20%	6.90%	4.40%	4.40%
Other
Related Party Transaction [Line Items]
Revenue from related parties	$ 1,627	$ 1,375	$ 3,064	$ 2,773
Percentage of revenues from related parties	3.00%	2.80%	1.90%	1.80%
AIC
Related Party Transaction [Line Items]
Revenue from related parties	$ 60	$ 60	$ 120	$ 120
Percentage of revenues from related parties	0.10%	0.10%	0.00%	0.10%
RIF
Related Party Transaction [Line Items]
Revenue from related parties	$ 607	$ 560	$ 1,213	$ 1,141
Percentage of revenues from related parties	1.10%	1.10%	0.80%	0.70%
ABP Trust
Related Party Transaction [Line Items]
Revenue from related parties	$ 960	$ 755	$ 1,731	$ 1,512
Percentage of revenues from related parties	1.80%	1.60%	1.10%	1.00%

Related Person Transactions - A

Related Person Transactions - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Jan. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Incentive fee allocated to related party		$ 26,611		$ 0	$ 0	$ 0	$ 26,611
Managed REITs
Related Party Transaction [Line Items]
Aggregate incentive business management fees	$ 52,407	$ 62,263	$ 62,263			52,407	62,263
ABP Trust and Managed REIT
Related Party Transaction [Line Items]
Rental expense				$ 1,059	$ 1,041	$ 2,109	$ 2,113

Related Person Transactions - D

Related Person Transactions - Due from/to Related Parties (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Related Party Transaction [Line Items]
Due from related parties	$ 29,179	$ 32,616
Managed REITs
Related Party Transaction [Line Items]
Due from related parties	27,556	30,888
GOV
Related Party Transaction [Line Items]
Due from related parties	5,458	6,165
HPT
Related Party Transaction [Line Items]
Due from related parties	7,322	7,800
SIR
Related Party Transaction [Line Items]
Due from related parties	6,318	7,190
SNH
Related Party Transaction [Line Items]
Due from related parties	8,458	9,733
Managed Operators
Related Party Transaction [Line Items]
Due from related parties	1,053	1,007
Five Star
Related Party Transaction [Line Items]
Due from related parties	348	291
Sonesta
Related Party Transaction [Line Items]
Due from related parties	47	5
TA
Related Party Transaction [Line Items]
Due from related parties	658	711
Other
Related Party Transaction [Line Items]
Due from related parties	570	721
AIC
Related Party Transaction [Line Items]
Due from related parties	20	21
RIF
Related Party Transaction [Line Items]
Due from related parties	73	17
ABP Trust
Related Party Transaction [Line Items]
Due from related parties	$ 477	$ 683

Related Person Transactions - T

Related Person Transactions - Tax Related Payments (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Mar. 31, 2017
ABP Trust \| Up C Transaction
Related Party Transaction [Line Items]
Tax receivable agreement, percent of payment		85.00%
Payments related to Tax Receivable Agreement		$ 0
Liability related to Tax Receivable Agreement		64,929,000
Forecast \| ABP Trust \| Up C Transaction
Related Party Transaction [Line Items]
Payments related to Tax Receivable Agreement	$ 2,900,000
RMR LLC
Related Party Transaction [Line Items]
Tax distributions		19,402,000
RMR LLC \| ABP Trust
Related Party Transaction [Line Items]
Tax distributions		18,098,000
RMR LLC \| RMR Group and ABP Trust
Related Party Transaction [Line Items]
Tax distributions		$ 37,500,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 11, 2017	Mar. 29, 2017	Feb. 21, 2017	Nov. 17, 2016	Mar. 31, 2017	Sep. 30, 2016
Class A common shares
Class of Stock [Line Items]
Common stock shares outstanding					15,094,557	15,082,432
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share)			$ 0.25	$ 0.25
Value of dividends paid			$ 4,020	$ 4,021
Common stock shares outstanding			16,082,432	16,082,432
RMR LLC
Class of Stock [Line Items]
Value of dividends paid			$ 7,770	$ 7,771
Dividends declared (in dollars per share)			$ 0.25	$ 0.25
RMR LLC \| Class A common shares
Class of Stock [Line Items]
Shares granted (in shares)		12,500
ABP Trust \| Class A common shares
Class of Stock [Line Items]
Value of dividends paid			$ 3,750	$ 3,750
Common stock shares outstanding					15,000,000
Subsequent Event \| Class A and B-1 common shares
Class of Stock [Line Items]
Value of dividends paid	$ 4,024
Common stock shares outstanding	16,094,557
Subsequent Event \| RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.25
Value of dividends paid	$ 7,774
Dividends declared (in dollars per share)	$ 0.25
Subsequent Event \| ABP Trust \| Class A common shares
Class of Stock [Line Items]
Value of dividends paid	$ 3,750
Director \| Class A common shares
Class of Stock [Line Items]
Shares granted (in shares)		2,500
Price per share (in dollars per share)		$ 48.2
Shares withheld for tax withholding (in shares)		375
Aggregate value of shares withheld for tax withholding		$ 18
Director \| RMR LLC \| Class A common shares
Class of Stock [Line Items]
Shares withheld for tax withholding (in shares)		375

Per Common Share Amounts (Detai

Per Common Share Amounts (Details)	3 Months Ended		6 Months Ended
Per Common Share Amounts (Details)	Mar. 31, 2017shares	Mar. 31, 2016shares	Mar. 31, 2017shares	Mar. 31, 2016shares	Sep. 30, 2016shares
Class of Stock [Line Items]
Weighted average common stock shares outstanding basic (in shares)	16,025,000	16,002,000	16,025,000	16,001,000
Weighted average common stock shares outstanding diluted (in shares)	16,042,000	16,002,000	16,036,000	16,001,000
Class A membership units
Class of Stock [Line Items]
Conversion ratio			1
Weighted average common stock shares outstanding diluted (in shares)			30,094,557
Class A common shares
Class of Stock [Line Items]
Common stock shares authorized	31,600,000		31,600,000		31,600,000
Class A common shares \| Class A membership units
Class of Stock [Line Items]
Membership shares (in units)	15,094,557		15,094,557
Class B-1 common shares
Class of Stock [Line Items]
Weighted average common stock shares outstanding basic (in shares)			1,000,000
Common stock shares authorized	1,000,000		1,000,000		1,000,000
Conversion ratio			1
Capital Unit Redeemable Class A Units
Class of Stock [Line Items]
Common stock shares authorized	15,000,000		15,000,000

Per Common Share Amounts - Sche

Per Common Share Amounts - Schedule of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Numerator:
Net income attributable to RMR Inc.	$ 6,883	$ 6,114	$ 30,393	$ 23,168
Income attributable to unvested participating securities	(14)	0	(29)	0
Net income attributable to RMR Inc. used in calculating basic EPS	$ 6,869	$ 6,114	$ 30,364	$ 23,168
Denominator:
Weighted average common shares outstanding - basic (in shares)	16,025	16,002	16,025	16,001
Net income attributable to RMR Inc. per common share - basic (in dollars per share)	$ 0.43	$ 0.38	$ 1.89	$ 1.45
Numerator:
Net income attributable to RMR Inc.	$ 6,883	$ 6,114	$ 30,393	$ 23,168
Income attributable to unvested participating securities	(14)	0	(29)	0
Net income attributable to RMR Inc. used in calculating diluted EPS	$ 6,869	$ 6,114	$ 30,364	$ 23,168
Denominator:
Weighted average common shares outstanding - basic (in shares)	16,025	16,002	16,025	16,001
Dilutive effect of incremental unvested shares (in shares)	17	0	11	0
Weighted average common shares outstanding - diluted (in shares)	16,042	16,002	16,036	16,001
Net income attributable to RMR Inc. per common share - diluted (in dollars per share)	$ 0.43	$ 0.38	$ 1.89	$ 1.45

Net Income Attributable to RM42

Net Income Attributable to RMR Inc (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net Income Attributable to RMR Inc.
Income before income tax expense		$ 22,523	$ 19,834	$ 98,396	$ 101,527
Add: RMR Inc. franchise tax expense and interest income		155	71	309	225
Less: equity in loss of investee		(165)	0	(165)	0
Less: incentive fee allocable to ABP Trust	$ (26,611)	0	0	0	(26,611)
Net income before noncontrolling interest		22,513	19,905	98,540	75,141
Less: noncontrolling interest		(10,865)	(9,634)	(47,555)	(36,348)
Net income attributable to RMR Inc. before income tax expense		11,648	10,271	50,985	38,793
Less: income tax expense attributable to RMR Inc.		(4,610)	(4,086)	(20,283)	(15,400)
Less: RMR Inc. franchise tax expense and interest income		(155)	(71)	(309)	(225)
Net income attributable to RMR Inc.		$ 6,883	$ 6,114	$ 30,393	$ 23,168

Net Income Attributable to RM43

Net Income Attributable to RMR Inc - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Incentive fee allocated to related party	$ 26,611	$ 0	$ 0	$ 0	$ 26,611

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Reporting (Details) $ in Thousands	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)segment	Mar. 31, 2016USD ($)
Segment Reporting
Number of reportable business segments \| segment			1
Revenues
Management services	$ 43,258	$ 39,014	$ 138,392	$ 141,073
Reimbursable payroll and related costs	10,034	8,759	19,184	16,249
Advisory services	1,004	560	2,014	1,141
Total revenues	54,296	48,333	159,590	158,463
Expenses
Compensation and benefits	24,549	21,561	47,781	42,865
General and administrative	7,146	6,488	12,987	13,163
Depreciation and amortization	528	501	1,083	984
Total expenses	32,223	28,550	61,851	57,012
Operating income (loss)	22,073	19,783	97,739	101,451
Interest and other income	450	51	657	76
Income before income tax expense and equity in loss of investee	22,523	19,834	98,396	101,527
Income tax expense	(4,610)	(4,086)	(20,283)	(15,400)
Equity in loss of investee	(165)	0	(165)	0
Net income (loss)	17,748	15,748	77,948	86,127
Intersegment Eliminations
Revenues
Total revenues	120	186	651	370
RMR LLC
Revenues
Management services	43,258	39,014	138,392	141,015
Reimbursable payroll and related costs	10,034	8,759	19,184	16,249
Advisory services	0	0	0	0
Total revenues	53,292	47,773	157,576	157,264
Expenses
Compensation and benefits	24,066	21,286	46,754	42,267
General and administrative	6,792	6,294	12,482	12,619
Depreciation and amortization	382	501	751	984
Total expenses	31,240	28,081	59,987	55,870
Operating income (loss)	22,052	19,692	97,589	101,394
Interest and other income	181	50	280	75
Income before income tax expense and equity in loss of investee	22,233	19,742	97,869	101,469
Income tax expense	0	0	0	(1)
Equity in loss of investee	0		0
Net income (loss)	22,233	19,742	97,869	101,468
All Other Operations
Revenues
Management services	0	0	0	58
Reimbursable payroll and related costs	0	0	0	0
Advisory services	1,004	560	2,014	1,141
Total revenues	1,004	560	2,014	1,199
Expenses
Compensation and benefits	483	275	1,027	598
General and administrative	354	194	505	544
Depreciation and amortization	146	0	332	0
Total expenses	983	469	1,864	1,142
Operating income (loss)	21	91	150	57
Interest and other income	269	1	377	1
Income before income tax expense and equity in loss of investee	290	92	527	58
Income tax expense	(4,610)	(4,086)	(20,283)	(15,399)
Equity in loss of investee	(165)		(165)
Net income (loss)	$ (4,485)	$ (3,994)	$ (19,921)	$ (15,341)