The RMR Group Inc. (RMR) 10-Q 7 Feb 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Feb. 06, 2019
Entity Registrant Name	RMR Group Inc.
Entity Central Index Key	1,644,378
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	false
Class A common shares
Entity Common Stock, Shares Outstanding		15,229,687
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	Dec. 31, 2018	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 284,159	$ 256,848
Due from related parties	190,785	28,846
Prepaid and other current assets	6,855	10,392
Total current assets	481,799	296,086
Property and equipment, net	2,442	2,589
Due from related parties, net of current portion	5,131	8,183
Equity method investment	7,086	7,051
Equity method investment accounted for under the fair value option	5,613	0
Goodwill	1,859	1,859
Intangible assets, net of amortization	362	375
Deferred tax asset	25,802	25,726
Other assets, net of amortization	160,205	162,559
Total assets	690,299	504,428
Current liabilities:
Accounts payable and accrued expenses	115,748	28,307
Total current liabilities	115,748	28,307
Long term portion of deferred rent payable, net of current portion	1,283	1,229
Amounts due pursuant to tax receivable agreement, net of current portion	32,048	32,048
Employer compensation liability, net of current portion	5,131	8,183
Total liabilities	154,210	69,767
Commitments and contingencies
Equity:
Additional paid in capital	100,808	99,239
Retained earnings	235,086	182,877
Cumulative other comprehensive income	80	82
Cumulative common distributions	(55,147)	(49,467)
Total shareholders’ equity	280,858	232,762
Noncontrolling interest	255,231	201,899
Total equity	536,089	434,661
Total liabilities and equity	690,299	504,428
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 Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
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	15,229,687	15,229,957
Common stock, shares outstanding	15,229,687	15,229,957
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
	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Total revenues	$ 280,313	$ 218,541
Expenses:
Compensation and benefits	28,012	26,197
Equity based compensation	1,811	2,721
Separation costs	6,397	0
Total compensation and benefits expense	36,220	28,918
General and administrative	7,320	6,706
Other client company reimbursable expenses	98,076	0
Transaction and acquisition related costs	184	142
Depreciation and amortization	255	380
Total expenses	142,055	36,146
Operating income (loss)	138,258	182,395
Interest and other income	1,526	784
Tax receivable agreement remeasurement	0	24,710
Income before income tax expense and equity in earnings (losses) of investee	139,784	207,889
Income tax expense	(18,970)	(48,343)
Unrealized loss on equity method investment accounted for under the fair value option	(2,769)	0
Equity in earnings (losses) of investees	35	(222)
Net income (loss)	118,080	159,324
Net income attributable to noncontrolling interest	(65,871)	(88,204)
Net income attributable to RMR Inc.	52,209	71,120
Other comprehensive (loss) income:
Foreign currency translation adjustments	(4)	0
Other comprehensive (loss) income	(4)	0
Comprehensive income	118,076	159,324
Comprehensive income attributable to noncontrolling interest	(65,869)	(88,204)
Comprehensive income attributable to RMR Inc.	$ 52,207	$ 71,120
Weighted average common shares outstanding - basic (in shares)	16,120	16,060
Weighted average common shares outstanding - diluted (in shares)	16,131	16,084
Net income attributable to RMR Inc. per common share - basic (in dollars per share)	$ 3.22	$ 4.40
Net income attributable to RMR Inc. per common share - diluted (in dollars per share)	$ 3.22	$ 4.39
Total management and advisory services revenues
Revenues:
Revenue	$ 168,364	$ 205,833
Management services
Revenues:
Revenue	47,488	48,570
Incentive business management fees
Revenues:
Revenue	120,094	155,881
Advisory services
Revenues:
Revenue	782	1,382
Total reimbursable costs
Revenues:
Revenue	111,949	12,708
Reimbursable compensation and benefits
Revenues:
Revenue	13,873	12,708
Other client company reimbursable expenses
Revenues:
Revenue	$ 98,076	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common sharesClass A common shares	Common sharesClass B-1 common shares	Common sharesClass B-2 common shares	Additional Paid In Capital	Retained Earnings	Cumulative Other Comprehensive Income	Cumulative Common Distributions	Total Shareholders' Equity	Noncontrolling Interest
Balance beginning at Sep. 30, 2017	$ 289,663	$ 15	$ 1	$ 15	$ 95,878	$ 86,836	$ 84	$ (33,298)	$ 149,531	$ 140,132
Increase (Decrease) in Shareholders' Equity
Share grants, net	566				566				566
Net income	159,324					71,120			71,120	88,204
Fees from services provided prior to our IPO	(128)									(128)
Tax distributions to Member	(15,155)									(15,155)
Common share distributions	(7,791)							(4,041)	(4,041)	(3,750)
Other comprehensive loss	0
Balance ending at Dec. 31, 2017	426,479	15	1	15	96,444	157,956	84	(37,339)	217,176	209,303
Balance beginning at Sep. 30, 2018	434,661	15	1	15	99,239	182,877	82	(49,467)	232,762	201,899
Increase (Decrease) in Shareholders' Equity
Share grants, net	1,569				1,569				1,569
Net income	118,080					52,209			52,209	65,871
Tax distributions to Member	(8,037)									(8,037)
Common share distributions	(10,180)							(5,680)	(5,680)	(4,500)
Other comprehensive loss	(4)						(2)		(2)	(2)
Balance ending at Dec. 31, 2018	$ 536,089	$ 15	$ 1	$ 15	$ 100,808	$ 235,086	$ 80	$ (55,147)	$ 280,858	$ 255,231

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 118,080	$ 159,324
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	255	380
Straight line office rent	54	52
Amortization expense related to other asset	2,354	2,354
Deferred income taxes	(76)	20,150
Operating expenses paid in RMR Inc. common shares	1,569	566
Contingent consideration liability	0	(425)
Tax receivable agreement remeasurement	0	(24,710)
Distribution from equity method investments	0	50
Equity in (earnings) losses of investees	(35)	222
Unrealized loss on equity method investment accounted for under the fair value option	2,769	0
Changes in assets and liabilities:
Due from related parties	(161,939)	(156,798)
Prepaid and other current assets	3,537	3,722
Accounts payable and accrued expenses	87,510	35,571
Net cash from operating activities	54,078	40,458
Cash Flows from Investing Activities:
Purchase of property and equipment	(170)	(186)
Equity method investment in TA common shares	(8,382)	0
Net cash used in investing activities	(8,552)	(186)
Cash Flows from Financing Activities:
Distributions to noncontrolling interest	(12,537)	(18,905)
Distributions to common shareholders	(5,680)	(4,041)
Net cash used in financing activities	(18,217)	(22,946)
Effect of exchange rate fluctuations on cash and cash equivalents	2	0
Increase in cash and cash equivalents	27,311	17,326
Cash and cash equivalents at beginning of period	256,848	108,640
Cash and cash equivalents at end of period	284,159	125,966
Supplemental cash flow information:
Income taxes paid	$ 332	$ 28

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The RMR Group Inc., or RMR Inc., is a holding company and substantially all of its business is conducted by its majority owned subsidiary The RMR Group LLC, or RMR LLC. RMR Inc. is a Maryland corporation and RMR LLC is 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 December 31, 2018 , RMR Inc. owned 15,229,687 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 represented 52.0% of the economic interest of RMR LLC as of December 31, 2018 . 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. A wholly owned subsidiary of ABP Trust, a Maryland statutory trust, owns 15,000,000 redeemable Class A Units, representing 48.0% of the economic interest of RMR LLC as of December 31, 2018 , which is presented as a noncontrolling interest within the condensed consolidated financial statements. Adam D. Portnoy, one of our Managing Directors, is the sole trustee of ABP Trust, and owns a majority of ABP Trust's voting securities. RMR LLC was founded in 1986 to manage public investments in real estate and, as of December 31, 2018 , managed a diverse portfolio of publicly owned real estate and real estate related businesses. RMR LLC provides management services to: Hospitality Properties Trust, or HPT, a publicly traded REIT that primarily owns hotel and travel center properties; Industrial Logistics Properties Trust, or ILPT, a publicly traded REIT that primarily owns and leases industrial and logistics properties; Office Properties Income Trust, or OPI, a publicly traded REIT that primarily owns office properties leased to single tenants and high credit quality tenants, including the government; and Senior Housing Properties Trust, or SNH, a publicly traded REIT that primarily owns senior living, medical office and life science properties. Until December 31, 2018, RMR LLC provided management services to Select Income REIT, or SIR. On December 31, 2018, SIR merged with and into a subsidiary of OPI (then named Government Properties Income Trust, or GOV) (the "GOV/SIR Merger"), which then merged with and into OPI, with OPI as the surviving entity. The combined company continues to be managed by RMR LLC pursuant to OPI's business and property management agreements with RMR LLC. HPT, ILPT, OPI, SNH and, until December 31, 2018, SIR are collectively referred to as the Managed Equity 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 and franchisor of travel centers along the U.S. Interstate Highway System, many of which are owned by HPT, 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, ABP Trust and its subsidiaries, or collectively ABP Trust, and RMR Office Property Fund LP, or the Open End Fund. RMR Advisors LLC, or RMR Advisors, is an investment adviser registered with the Securities and Exchange Commission, or SEC. 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. Tremont Realty Advisors LLC, or Tremont Advisors, an investment adviser registered with the SEC, was founded in 2016 in connection with the acquisition of certain assets of Tremont Realty Capital LLC, or the Tremont business. Tremont Advisors is a wholly owned subsidiary of RMR LLC that manages accounts that invest in commercial real estate debt, including secured mortgage debt. Tremont Advisors also manages Tremont Mortgage Trust, or TRMT, a publicly traded mortgage real estate investment trust that focuses primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. In these financial statements, we refer to the Managed Equity REITs, the Managed Operators, RIF, TRMT, AIC, ABP Trust, the Open End Fund and the clients of the Tremont business as our Client Companies. We refer to the Managed Equity REITs and TRMT collectively as the Managed REITs. 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, 2018, or our Annual Report. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of results for the interim period 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	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted 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 , which has been codified as Accounting Standard Codification, or ASC, 606. We adopted ASC 606 effective October 1, 2018 using the modified retrospective method for all our existing contracts. The main provision of ASC 606 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. Under ASC 606, control of the services before transfer to the client is the primary factor in determining principal versus agent assessments. Based on our evaluation of ASC 606, we have determined that we control the services provided by third parties for our Client Companies. Accordingly, we will account for the cost of services provided by third parties and the related reimbursement revenue on a gross basis. Prior to adoption, costs of such services were accounted for on a net basis, with the exception of amounts related to reimbursed payroll. As a result of adopting ASC 606, our condensed consolidated statements of comprehensive income reflect an increase of $98,076 of other client company reimbursable expenses as revenue and costs for the three months ended December 31, 2018 compared to the same period last year, with no impact on net income. Our condensed consolidated balance sheets as of December 31, 2018 also include other client company reimbursable expenses due from related parties and a related liability in accounts payable and accrued expenses of $47,195 . Recent Accounting Pronouncements Not Yet Adopted 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. The effective date for RMR will be the first day of fiscal year 2020 (October 1, 2019). We are currently assessing the potential impact of 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 June 2018, the FASB issued ASU No. 2018-7, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting , which aligns the measurement and classification guidance for share-based payments to nonemployees with the guidance for share-based payments to employees, with certain exceptions. ASU No. 2018-7 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. We are currently assessing the potential impact the adoption of ASU No. 2018-7 will have on our condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 31, 2018
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Business Management Fees—Managed Equity REITs We earn annual base business management fees from the Managed Equity REITs by providing continuous services 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 Equity REIT’s monthly average historical costs of assets under management and average market capitalization during the month. For purposes of these fees, a Managed Equity REIT’s assets under management do not include shares it owns of another Client Company. For the three months ended December 31, 2018 and 2017 , we earned aggregate base business management fees from the Managed Equity REITs of $28,271 and $30,602 , respectively. Incentive Business Management Fees—Managed Equity REITs We also may earn annual incentive business management fees from the Managed Equity 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. As part of our adoption of ASC 606, incentive business management fees are excluded from the transaction price until it becomes probable that there will not be a significant reversal of cumulative revenue recognized. The incentive fees are calculated for each Managed Equity REIT as 12.0% of the product of (a) the equity market capitalization of the Managed Equity REIT, as defined in the applicable business management agreement, on the last trading day of the year immediately prior to the relevant measurement period and (b) the amount, expressed as a percentage, by which the Managed Equity REIT’s total return per share, as defined in the applicable business management agreement, exceeded the applicable 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, as adjusted for net share issuances during the period and subject to caps on the values of the incentive fees. The measurement periods for the annual incentive business management fees in respect of calendar years 2018 and 2017 were the three calendar year periods that ended on December 31, 2018 and 2017, respectively, except for ILPT, whose annual incentive business management fee is based on a shorter period from its initial public offering (January 12, 2018) through the calendar year ended December 31, 2018). On December 31, 2018, RMR LLC's business management agreements with ILPT and OPI were amended to provide that, for periods beginning on and after January 1, 2019, the SNL U.S. Industrial REIT Index and the SNL U.S. Office REIT Index will be used by ILPT and OPI, respectively, rather than the SNL U.S. REIT Equity Index, to calculate the benchmark return per share, as defined, for purposes of determining the incentive management fee, if any, payable thereunder. For the three months ended December 31, 2018 and 2017 , we recognized aggregate incentive business management fees earned from the Managed Equity REITs of $120,094 and $155,881 , respectively. Management Agreements—Managed Operators, ABP Trust, AIC and the Open End Fund We earn management fees by providing continuous services pursuant to the management agreements from the Managed Operators and ABP Trust 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 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 earn fees from the Open End Fund by providing a continuing and suitable real estate investment program consistent with the Open End Fund’s real estate investment policies and objectives pursuant to an administration services agreement. We earn fees equal to 1.0% of the Open End Fund's net asset value, as defined, annually. These fees are payable quarterly in arrears. We earned aggregate fees from the Managed Operators, ABP Trust, AIC and the Open End Fund of $7,395 and $6,872 for the three months ended December 31, 2018 and 2017 , respectively. Property Management Fees We earned property management fees by providing continuous services pursuant to property management agreements with certain Client Companies. We generally earn fees under these agreements equal to 3.0% of gross collected rents. Also, under the terms of the property management agreements, we receive additional 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 $11,770 and $10,858 for the three months ended December 31, 2018 and 2017 , respectively. Reimbursable Compensation and Benefits Our reimbursable compensation and benefits include reimbursements that arise from services we provide pursuant to our property management agreements, a significant portion of which are charged or passed through to and were paid by tenants of our Client Companies. We realized reimbursable compensation and benefits of $13,873 and $12,708 for the three months ended December 31, 2018 and 2017 , respectively. Our reimbursable compensation and benefits 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 our condensed consolidated statements of comprehensive income over the requisite service periods. We record an equal offsetting amount as equity based compensation expense for all of our payroll and related cost revenues. We realized equity based compensation expense and related reimbursements of $1,316 and $2,155 for the three months ended December 31, 2018 and 2017 , respectively. Advisory Services and Other Agreements RMR Advisors is compensated for providing continuous services to RIF pursuant to its agreement and is compensated 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 services revenue of $733 and $729 for the three months ended December 31, 2018 and 2017 respectively. Tremont Advisors is primarily compensated pursuant to its management agreement with TRMT at an annual rate of 1.5% of TRMT's equity, as defined in the agreement. Tremont Advisors may also earn an incentive fee under this management agreement beginning in the fourth quarter of calendar year 2018. In June 2018, Tremont Advisors agreed to waive any business management fees otherwise due and payable by TRMT pursuant to the management agreement for the period beginning July 1, 2018 until June 30, 2020. In addition, no incentive fee will be paid or payable by TRMT to Tremont Advisors for the 2018 or 2019 calendar years. Tremont Advisors earned advisory services revenue of $49 and $653 for the three months ended December 31, 2018 and 2017 , respectively. The Tremont business also acts as a transaction originator for non-investment advisory clients for negotiated fees. 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 December 31, 2018 and 2017 , the Tremont business earned fees for such origination services of $52 and $238 , respectively, which amounts are included in management services revenue in our condensed consolidated statements of comprehensive income.

Equity Investments

Equity Investments	3 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments	Equity Investments As of December 31, 2018 , Tremont Advisors owned 600,100 , or approximately 18.9% , of TRMT's outstanding common shares, with a carrying value of $7,086 and a market value of $5,431 . We account for our investment in TRMT using the equity method of accounting because we are deemed to exert significant influence, but not control, over, TRMT's most significant activities. Our share of net income from our investment in TRMT is included in equity in earnings of investees in our condensed consolidated statements of comprehensive income for the three months ended December 31, 2018 was $35 . Our share of net losses from our investment in TRMT included in equity in losses of investees in our condensed consolidated statements of comprehensive income for the three months ended December 31, 2017 was $201 . On October 10, 2018 we purchased 1,492,691 TA common shares for a purchase price of $8,382 . We account for our investment in TA using the equity method of accounting because we are deemed to exert significant influence, but not control, over, TA's most significant activities. We have elected the fair value option to account for our equity method investment in TA. We determined fair value using the closing price of TA's common shares as of December 31, 2018 , which is a Level 1 fair value measurement. The market value of our investment in TA at December 31, 2018 , based on quoted market price, is $5,613 . The unrealized loss in our condensed consolidated statements of comprehensive income for the three months ended December 31, 2018 was $2,769 . We also have a 0.5% general partnership interest in a fund created for an institutional investor that is managed by Tremont Advisors. We account for this investment under the equity method of accounting and record our share of the investment's earnings or losses each period. This fund is in the process of winding down, and we did not record earnings or losses of investees for this investment during the three months ended December 31, 2018 . Our share of net losses from this fund included in equity in losses of investees in our condensed consolidated statements of comprehensive income for the three months ended December 31, 2017 was $21 .

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are the sole managing member of RMR LLC. 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 tax consolidated subsidiaries. RMR LLC is treated as a partnership for U.S. federal and most applicable state and local 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. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act, or the Tax Act. The Tax Act significantly revised the U.S. corporate income tax system, by among other things, lowering corporate income tax rates. Since we have a September 30 fiscal year end, the lower corporate income tax rate of 21.0% was phased in, resulting in a federal statutory tax rate of approximately 24.5% for our fiscal year ending September 30, 2018. The new corporate income tax rate of 21.0% is effective for fiscal years thereafter, beginning October 1, 2018. The Tax Act reduction in corporate income tax rate also caused us to adjust our deferred tax asset to the lower federal base rates, resulting in an increase in income tax expense of $19,817 , for the three months ended December 31, 2017 . For the three months ended December 31, 2018 and 2017 , we recognized estimated income tax expense of $18,970 and $48,343 , respectively, which includes $13,842 and $37,730 , respectively, of U.S. federal income tax and $5,128 and $10,613 , respectively, of state income taxes. A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended December 31, 2018 2017 Income taxes computed at the federal statutory rate 21.0 % 24.5 % State taxes, net of federal benefit 3.0 % 2.5 % Tax Cuts and Jobs Act transitional impact (1) — % 9.6 % Permanent items (2) (0.1 )% (2.9 )% Net income attributable to noncontrolling interest (10.1 )% (10.4 )% Total 13.8 % 23.3 % (1) Transitional impact for the three months ending December 31, 2017 is the $19,817 adjustment to our deferred tax asset due to the reduction in our corporate income tax rate under the Tax Act. (2) Permanent items for the three months ending December 31, 2017 include the $24,710 reduction in our liability related to the tax receivable agreement with ABP Trust discussed in Note 7, Related Person Transactions . 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. Pursuant to this topic, 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 December 31, 2018 and September 30, 2018 , we had no uncertain tax positions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of December 31, 2018 and September 30, 2018 , the fair values of our financial instruments, which include cash and cash equivalents, amounts due from related parties and accounts payable and accrued expenses, 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 December 31, 2018 and September 30, 2018 : December 31, September 30, 2018 2018 Money market funds included in cash and cash equivalents $ 283,604 $ 253,876 Current portion of due from related parties related to share based payment awards 2,613 4,986 Long term portion of due from related parties related to share based payment awards 5,131 8,183 Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses 2,613 4,986 Long term portion of employer compensation liability related to share based payment awards 5,131 8,183

Related Person Transactions

Related Person Transactions	3 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Person Transactions	Related Person Transactions Adam D. Portnoy, one of our Managing Directors, is the sole trustee of ABP Trust, and owns a majority of ABP Trust's voting securities. As of December 31, 2018 , he beneficially owned, in aggregate, (i) 132,002 shares of Class A common stock of RMR Inc., or Class A Common Shares; (ii) all the outstanding shares of Class B-1 common stock of RMR Inc., or Class B-1 Common Shares; (iii) all 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 of RMR LLC. Adam D. Portnoy and Jennifer B. Clark, our other Managing Director, are also officers of ABP Trust and RMR Inc. and officers and employees of RMR LLC. Adam D. Portnoy is also a managing trustee or managing director of each of the Managed REITs, Five Star, RIF and TA, a director of AIC and the majority owner and director of Sonesta. Jennifer B. Clark, our other Managing Director, is a managing trustee of RIF and SNH, president of AIC and a director of Sonesta. As of December 31, 2018, HPT, OPI and SNH owned 2,503,777 , 2,801,061 and 2,637,408 Class A Common Shares, respectively, and Adam D. Portnoy beneficially owned, in aggregate, 35.7% of Five Star’s outstanding common shares, 1.1% of HPT’s outstanding common shares, 1.2% of ILPT’s outstanding common shares, 1.5% of OPI’s outstanding common shares, 1.1% of SNH’s outstanding common shares, 4.0% of TA’s outstanding common shares (through RMR LLC), 2.2% of RIF’s outstanding common shares, and 18.9% of TRMT's outstanding common shares (through Tremont Advisors). All the officers of the Managed Equity REITs, AIC and the Open End Fund are officers or employees of RMR LLC. All of TRMT’s officers are officers or employees of Tremont Advisors or RMR LLC. Many of the executive officers of the Managed Operators are officers or employees of RMR LLC. All of RIF’s officers are officers or employees of RMR Advisors or RMR LLC. Some of our executive officers are also managing directors or managing trustees of certain of the Managed REITs, the Managed Operators and RIF. As of December 31, 2018 , ABP Trust owned 14.3% of AIC and 206,300 limited partner units of the Open End Fund and RMR LLC owned no limited partnership units, but has committed to contributing $100,000 to the Open End Fund. The general partner of the Open End Fund is a subsidiary of ABP Trust. Additional information about our related person transactions appears in Note 8, Distributions , below and in our 2018 Annual Report. Revenues from Related Parties For the three months ended December 31, 2018 and 2017 , we recognized revenues from related parties as set forth in the following table: Three Months Ended December 31, 2018 (1)(2) 2017 (2) $ % $ % Managed Equity REITs: HPT (3) $ 66,395 23.7 % $ 86,066 39.4 % ILPT 8,460 3.0 — — OPI (4) 56,243 20.1 13,509 6.2 SIR (3) 47,843 17.1 36,990 16.9 SNH (3) 85,979 30.7 71,545 32.7 264,920 94.6 208,110 95.2 Managed Operators: Five Star 2,413 0.9 2,690 1.2 Sonesta 757 0.3 568 0.3 TA 3,853 1.4 3,771 1.7 7,023 2.6 7,029 3.2 Client Companies: ABP Trust 3,335 1.2 1,279 0.6 AIC 60 — 60 — Open End Fund 3,477 1.2 — — RIF 733 0.2 729 0.4 TRMT 695 0.2 706 0.3 8,300 2.8 2,774 1.3 Total revenues from related parties 280,243 100.0 217,913 99.7 Other unrelated parties 70 — 628 0.3 $ 280,313 100.0 % $ 218,541 100.0 % (1) Revenues from related parties for the three months ended December 31, 2018 includes other client company reimbursable expenses of $98,076 recognized due to the adoption of ASC 606 as summarized in Note 2, Recent Accounting Pronouncements. (2) Revenues from related parties for the three months ended December 31, 2018 and December 31, 2017 include $13,873 and $12,708 of reimbursable compensation and benefits, respectively. (3) The amounts for the three months ended December 31, 2018 include incentive business management fees of $53,635 , $25,817 and $40,642 , which we earned from HPT, SIR and SNH, respectively, and which were paid in January 2019. The amounts for the three months ended December 31, 2017 include incentive business management fees of $74,572 , $25,569 and $55,740 , which RMR LLC earned from HPT, SIR and SNH, respectively, and which were paid in January 2018 . (4) SIR merged with and into a subsidiary of OPI on December 31, 2018. This table presents revenues from SIR separately as they relate to periods prior to this merger. Amounts Due From Related Parties The following table represents amounts due from related parties as of the dates indicated: December 31, September 30, 2018 2018 Managed Equity REITs: HPT (1) $ 63,239 $ 8,391 ILPT (1) 4,055 2,692 OPI (1)(2) 65,085 7,870 SIR (2) — 5,887 SNH (1) 58,175 9,705 190,554 34,545 Managed Operators: Five Star 205 281 Sonesta 21 30 TA 637 599 863 910 Client Companies: ABP Trust (1) 1,400 383 AIC 27 20 Open End Fund (1) 2,284 608 RIF 28 31 TRMT (1) 760 532 4,499 1,574 $ 195,916 $ 37,029 (1) HPT, ILPT, OPI, SNH, ABP Trust, AIC, the Open End Fund and TRMT amounts include other client company reimbursable expenses of $2,702 , $1,758 , $29,864 , $10,004 , $1,112 , $7 , $1,470 and $278 , respectively. (2) As a result of the GOV/SIR Merger, OPI succeeded to SIR's rights and obligations. As a result, OPI is obligated to pay to RMR LLC all amounts due from SIR as of December 31, 2018 will be reimbursed to RMR LLC by OPI. Leases As of December 31, 2018 , RMR LLC leased from ABP Trust and certain Managed Equity REITs office space for use as our headquarters and local offices. We incurred rental expense under related party leases aggregating $1,287 and $1,028 for the three months ended December 31, 2018 and 2017 , 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. In connection with the Tax Act and the resulting lower corporate income tax rates applicable to RMR Inc., we remeasured the amounts due pursuant to our tax receivable agreement with ABP Trust and reduced our liability by $24,710 , or $1.53 per share, which is presented in our condensed consolidated statements of comprehensive income for the three months ended December 31, 2017 as tax receivable agreement remeasurement. As of December 31, 2018 , our condensed consolidated balance sheet reflects a liability related to the tax receivable agreement of $34,327 , including $2,279 classified as a current liability that we expect to pay to ABP Trust during the fourth quarter of fiscal year 2019. Under the RMR LLC operating agreement, RMR LLC is also required to make certain pro rata distributions to each member of RMR LLC quarterly on the basis of the estimated tax liabilities of its members estimated quarterly, subject to future adjustment based on actual results. For the three months ended December 31, 2018 and 2017 , pursuant to the RMR LLC operating agreement, RMR LLC made required quarterly tax distributions to holders of its membership units totaling $16,722 and $31,488 , respectively, of which $8,685 and $16,333 , respectively, was distributed to us and $8,037 and $15,155 , respectively, was distributed to ABP Trust, based on each membership unit holder’s respective ownership percentage. The amounts distributed to us were eliminated in our condensed consolidated financial statements, and the amounts distributed to ABP Trust were recorded as a reduction of its noncontrolling interest. We used funds from these distributions to pay certain of our U.S. federal and state income tax liabilities and to pay part of our obligations under the tax receivable agreement. Incentive business management fees earned for the calendar year 2018 were higher than estimated; as a result, tax distributions are expected to increase during calendar year 2019. Termination of SIR Management Agreements and Waiver of Termination Fees in Connection with GOV-SIR Merger Effective upon consummation of the GOV/SIR Merger, SIR terminated its business and property management agreements with RMR LLC for convenience, and RMR LLC waived its right to receive payment of the termination fee that would otherwise be due pursuant to each such agreement upon such termination. Credit agreement between TRMT and Tremont Advisors On February 4, 2019, TRMT entered into a credit agreement, or the Credit Agreement, with Tremont Advisors as the lender, pursuant to which TRMT may, from time to time within six months after entering into the Credit Agreement, borrow amounts up to $25,000 in unsecured loans at a fixed rate of six and one-half percent ( 6.5% ) per annum. The Credit Agreement contains customary representations, covenants and events of default and is subordinated in right of payment to TRMT's master repurchase facility. The Credit Agreement matures on the later of February 4, 2022 or 30 days following maturity of TRMT's secured financing arrangements, as defined. The Credit Agreement requires TRMT to prepay any amount borrowed upon public issuance of equity interest or issuance of preferred equity, as defined. Other Effective November 30, 2018, John C. Popeo resigned from his positions as an Executive Vice President of RMR LLC, as managing trustee, president and chief executive officer of ILPT and as chief financial officer and treasurer of SIR. In connection with his retirement, RMR LLC entered into a retirement agreement with Mr. Popeo on October 24, 2018, pursuant to which, subject to the terms thereof, RMR LLC paid him approximately $963 in cash following his resignation as an Executive Vice President of RMR LLC on November 30, 2018 and will pay him an additional approximately $963 in cash following his resignation as an employee of RMR LLC on March 31, 2019. In addition, all of our unvested Class A Common Shares previously awarded to Mr. Popeo will fully accelerate on March 31, 2019, subject to conditions. As of December 31, 2018 there remained no further substantive performance obligations and we in turn recognized all provisions of the retirement agreement in our condensed consolidated statements of comprehensive income as separation costs, which included $1,953 of cash separation costs and $537 of equity based compensation related to Mr. Popeo's retirement. Effective December 31, 2018, Mark L. Kleifges resigned from his position as an Executive Vice President of RMR LLC, as managing trustee, chief financial officer and treasurer of GOV and RIF, as chief financial officer and treasurer of HPT and as president and chief executive officer of RMR Advisors. In connection with his retirement, RMR LLC entered into a retirement agreement with Mr. Kleifges on October 24, 2018, pursuant to which, subject to the terms thereof, RMR LLC paid him approximately $1,594 in cash following his resignation as an Executive Vice President of RMR LLC on December 31, 2018 and will pay him an additional approximately $1,594 in cash following his resignation as an employee of RMR LLC on June 30, 2019. In addition, all of our unvested Class A Common Shares previously awarded to Mr. Kleifges will fully accelerate on June 30, 2019, subject to conditions. As of December 31, 2018 there remained no further substantive performance obligations and we in turn recognized all provisions of the retirement agreement in our condensed consolidated statements of comprehensive income as separation costs, which included $3,234 of cash separation costs and $537 of equity based compensation related to Mr. Kleifges' retirement. Effective December 31, 2018, Bruce J. Mackey Jr. resigned from his positions as Executive Vice President of RMR LLC and president and chief executive officer of Five Star. In connection with his resignation, Five Star and RMR LLC entered into a separation agreement with Mr. Mackey on December 11, 2018, pursuant to which Mr. Mackey will remain an employee of Five Star and RMR LLC until December 31, 2019, or such earlier date as he may elect. Under his separation agreement, following his resignation, Mr. Mackey received a cash payment from Five Star in the amount of $600 . In addition, he will also receive in 2019 release payments in the aggregate amount of $550 . RMR LLC will pay 20% and Five Star will pay 80% of the release payments. In addition, all of our unvested Class A Common Shares previously awarded to Mr. Mackey will fully accelerate upon the date of his separation from Five Star, subject to conditions. For the three months ended December 31, 2018 , we recorded $125 of separation costs related to Mr. Mackey's retirement. We also recognized separation costs of $11 in connection with other non-executive employees of RMR LLC for the three months ended December 31, 2018 .

Distributions

Distributions	3 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Distributions	Distributions On November 15, 2018 , we paid a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares, in the amount of $0.35 per Class A Common Share and Class B-1 Common Share, or $5,680 . This dividend was paid to our shareholders of record as of the close of business on October 29, 2018 . This dividend was funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.30 per unit, or $9,369 , of which $4,869 was distributed to us based on our then aggregate ownership of 16,229,957 membership units of RMR LLC and $4,500 was distributed to ABP Trust based on its ownership of 15,000,000 membership units of RMR LLC. The remainder of this dividend was funded with cash accumulated at RMR Inc. On January 18, 2019 , 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 January 28, 2019 , in the amount of $0.35 per Class A Common Share and Class B-1 Common Share, or $5,680 . This dividend will be funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.30 per unit, or $9,369 , of which $4,869 will be distributed to us based on our expected then aggregate ownership of 16,229,687 membership units of RMR LLC and $4,500 will be distributed to ABP Trust based on its ownership of 15,000,000 membership units of RMR LLC. The remainder of this dividend will be funded with cash accumulated at RMR Inc. We expect to pay this dividend on our about February 21, 2019 .

Per Common Share Amounts

Per Common Share Amounts	3 Months Ended
	Dec. 31, 2018
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 Class A Common Shares and our 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 shares 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 and Class B-1 Common Shares outstanding 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 December 31, 2018 2017 Basic EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating basic EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Net income attributable to RMR Inc. per common share - basic $ 3.22 $ 4.40 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating diluted EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Dilutive effect of incremental unvested shares 11 24 Weighted average common shares outstanding - diluted 16,131 16,084 Net income attributable to RMR Inc. per common share - diluted $ 3.22 $ 4.39 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 Shares “paired” with such unit is canceled for no additional consideration. If all outstanding Class A Units that we do not own had been redeemed for our Class A Common Shares in the periods presented, our Class A Common Shares outstanding as of December 31, 2018 , would have been 30,229,687 . 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.	3 Months Ended
	Dec. 31, 2018
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 months ended December 31, 2018 and 2017 , is calculated as follows: Three Months Ended December 31, 2018 2017 Income before income tax expense and equity in losses of investees $ 139,784 $ 207,889 Add: RMR Inc. franchise tax expense and interest income 94 159 Less: tax receivable agreement remeasurement — (24,710 ) Less: unrealized loss on equity method investment accounted for under the fair value option (2,769 ) — Less: equity in losses of investees 35 (222 ) Less: fees from services provided prior to June 5, 2015 — (128 ) Net income before noncontrolling interest 137,144 182,988 Less: net income attributable to noncontrolling interest (65,871 ) (88,076 ) Net income attributable to RMR Inc. before income tax expense 71,273 94,912 Add: tax receivable agreement remeasurement — 24,710 Less: income tax expense attributable to RMR Inc. (18,970 ) (48,343 ) Less: RMR Inc. franchise tax expense and interest income (94 ) (159 ) Net income attributable to RMR Inc. $ 52,209 $ 71,120

Segment Reporting

Segment Reporting	3 Months Ended
	Dec. 31, 2018
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 and Tremont Advisors. Three months ended December 31, 2018 All Other RMR LLC (1) Operations Total Revenues: Management services $ 47,488 $ — $ 47,488 Incentive business management fees 120,094 — 120,094 Advisory services — 782 782 Total management and advisory services revenues 167,582 782 168,364 Reimbursable compensation and benefits 13,308 565 13,873 Other client company reimbursable expenses 98,076 — 98,076 Total reimbursable costs 111,384 565 111,949 Total revenues 278,966 1,347 280,313 Expenses: Compensation and benefits 26,425 1,587 28,012 Equity based compensation 1,784 27 1,811 Separation costs 6,397 — 6,397 Total compensation and benefits expense 34,606 1,614 36,220 General and administrative 6,385 935 7,320 Other client company reimbursable expenses 98,076 — 98,076 Transaction and acquisition related costs 184 — 184 Depreciation and amortization 242 13 255 Total expenses 139,493 2,562 142,055 Operating income (loss) 139,473 (1,215 ) 138,258 Interest and other income 1,373 153 1,526 Income (loss) before income tax expense and equity in losses of investees 140,846 (1,062 ) 139,784 Income tax expense — (18,970 ) (18,970 ) Unrealized loss on equity investment accounted for under the fair value option (2,769 ) — (2,769 ) Equity in losses of investees — 35 35 Net income (loss) $ 138,077 $ (19,997 ) $ 118,080 Total Assets: $ 625,116 $ 65,183 $ 690,299 (1) Intersegment revenues of $848 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 December 31, 2017 All Other RMR LLC (1) Operations Total Revenues: Management services $ 48,570 $ — $ 48,570 Incentive business management fees 155,881 — 155,881 Advisory services — 1,382 1,382 Total management and advisory services revenues 204,451 1,382 205,833 Reimbursable compensation and benefits 12,089 619 12,708 Total reimbursable costs 12,089 619 12,708 Total revenues 216,540 2,001 218,541 Expenses: Compensation and benefits 24,748 1,449 26,197 Equity based compensation 2,707 14 2,721 Total compensation and benefits expense 27,455 1,463 28,918 General and administrative 5,656 1,050 6,706 Transaction and acquisition related costs — 142 142 Depreciation and amortization 358 22 380 Total expenses 33,469 2,677 36,146 Operating income (loss) 183,071 (676 ) 182,395 Interest and other income 726 58 784 Tax receivable agreement remeasurement — 24,710 24,710 Income before income tax expense and equity in losses of investees 183,797 24,092 207,889 Income tax expense — (48,343 ) (48,343 ) Equity in earnings (losses) of investees — (222 ) (222 ) Net income (loss) $ 183,797 $ (24,473 ) $ 159,324 Total Assets: $ 460,121 $ 69,666 $ 529,787 (1) Intersegment revenues of $988 recognized by RMR LLC for services provided to the All Other Operations segment have been eliminated in the condensed consolidated financial statements.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted 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 , which has been codified as Accounting Standard Codification, or ASC, 606. We adopted ASC 606 effective October 1, 2018 using the modified retrospective method for all our existing contracts. The main provision of ASC 606 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. Under ASC 606, control of the services before transfer to the client is the primary factor in determining principal versus agent assessments. Based on our evaluation of ASC 606, we have determined that we control the services provided by third parties for our Client Companies. Accordingly, we will account for the cost of services provided by third parties and the related reimbursement revenue on a gross basis. Prior to adoption, costs of such services were accounted for on a net basis, with the exception of amounts related to reimbursed payroll. As a result of adopting ASC 606, our condensed consolidated statements of comprehensive income reflect an increase of $98,076 of other client company reimbursable expenses as revenue and costs for the three months ended December 31, 2018 compared to the same period last year, with no impact on net income. Our condensed consolidated balance sheets as of December 31, 2018 also include other client company reimbursable expenses due from related parties and a related liability in accounts payable and accrued expenses of $47,195 . Recent Accounting Pronouncements Not Yet Adopted 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. The effective date for RMR will be the first day of fiscal year 2020 (October 1, 2019). We are currently assessing the potential impact of 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 June 2018, the FASB issued ASU No. 2018-7, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting , which aligns the measurement and classification guidance for share-based payments to nonemployees with the guidance for share-based payments to employees, with certain exceptions. ASU No. 2018-7 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. We are currently assessing the potential impact the adoption of ASU No. 2018-7 will have on our condensed consolidated financial statements.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 31, 2018
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 December 31, 2018 2017 Income taxes computed at the federal statutory rate 21.0 % 24.5 % State taxes, net of federal benefit 3.0 % 2.5 % Tax Cuts and Jobs Act transitional impact (1) — % 9.6 % Permanent items (2) (0.1 )% (2.9 )% Net income attributable to noncontrolling interest (10.1 )% (10.4 )% Total 13.8 % 23.3 % (1) Transitional impact for the three months ending December 31, 2017 is the $19,817 adjustment to our deferred tax asset due to the reduction in our corporate income tax rate under the Tax Act. (2) Permanent items for the three months ending December 31, 2017 include the $24,710 reduction in our liability related to the tax receivable agreement with ABP Trust discussed in Note 7, Related Person Transactions .

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2018
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 December 31, 2018 and September 30, 2018 : December 31, September 30, 2018 2018 Money market funds included in cash and cash equivalents $ 283,604 $ 253,876 Current portion of due from related parties related to share based payment awards 2,613 4,986 Long term portion of due from related parties related to share based payment awards 5,131 8,183 Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses 2,613 4,986 Long term portion of employer compensation liability related to share based payment awards 5,131 8,183

Related Person Transactions (Ta

Related Person Transactions (Tables)	3 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Schedule of related party transactions	For the three months ended December 31, 2018 and 2017 , we recognized revenues from related parties as set forth in the following table: Three Months Ended December 31, 2018 (1)(2) 2017 (2) $ % $ % Managed Equity REITs: HPT (3) $ 66,395 23.7 % $ 86,066 39.4 % ILPT 8,460 3.0 — — OPI (4) 56,243 20.1 13,509 6.2 SIR (3) 47,843 17.1 36,990 16.9 SNH (3) 85,979 30.7 71,545 32.7 264,920 94.6 208,110 95.2 Managed Operators: Five Star 2,413 0.9 2,690 1.2 Sonesta 757 0.3 568 0.3 TA 3,853 1.4 3,771 1.7 7,023 2.6 7,029 3.2 Client Companies: ABP Trust 3,335 1.2 1,279 0.6 AIC 60 — 60 — Open End Fund 3,477 1.2 — — RIF 733 0.2 729 0.4 TRMT 695 0.2 706 0.3 8,300 2.8 2,774 1.3 Total revenues from related parties 280,243 100.0 217,913 99.7 Other unrelated parties 70 — 628 0.3 $ 280,313 100.0 % $ 218,541 100.0 % (1) Revenues from related parties for the three months ended December 31, 2018 includes other client company reimbursable expenses of $98,076 recognized due to the adoption of ASC 606 as summarized in Note 2, Recent Accounting Pronouncements. (2) Revenues from related parties for the three months ended December 31, 2018 and December 31, 2017 include $13,873 and $12,708 of reimbursable compensation and benefits, respectively. (3) The amounts for the three months ended December 31, 2018 include incentive business management fees of $53,635 , $25,817 and $40,642 , which we earned from HPT, SIR and SNH, respectively, and which were paid in January 2019. The amounts for the three months ended December 31, 2017 include incentive business management fees of $74,572 , $25,569 and $55,740 , which RMR LLC earned from HPT, SIR and SNH, respectively, and which were paid in January 2018 . (4) SIR merged with and into a subsidiary of OPI on December 31, 2018. This table presents revenues from SIR separately as they relate to periods prior to this merger. The following table represents amounts due from related parties as of the dates indicated: December 31, September 30, 2018 2018 Managed Equity REITs: HPT (1) $ 63,239 $ 8,391 ILPT (1) 4,055 2,692 OPI (1)(2) 65,085 7,870 SIR (2) — 5,887 SNH (1) 58,175 9,705 190,554 34,545 Managed Operators: Five Star 205 281 Sonesta 21 30 TA 637 599 863 910 Client Companies: ABP Trust (1) 1,400 383 AIC 27 20 Open End Fund (1) 2,284 608 RIF 28 31 TRMT (1) 760 532 4,499 1,574 $ 195,916 $ 37,029 (1) HPT, ILPT, OPI, SNH, ABP Trust, AIC, the Open End Fund and TRMT amounts include other client company reimbursable expenses of $2,702 , $1,758 , $29,864 , $10,004 , $1,112 , $7 , $1,470 and $278 , respectively. (2) As a result of the GOV/SIR Merger, OPI succeeded to SIR's rights and obligations. As a result, OPI is obligated to pay to RMR LLC all amounts due from SIR as of December 31, 2018 will be reimbursed to RMR LLC by OPI.

Per Common Share Amounts (Table

Per Common Share Amounts (Tables)	3 Months Ended
	Dec. 31, 2018
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 December 31, 2018 2017 Basic EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating basic EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Net income attributable to RMR Inc. per common share - basic $ 3.22 $ 4.40 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating diluted EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Dilutive effect of incremental unvested shares 11 24 Weighted average common shares outstanding - diluted 16,131 16,084 Net income attributable to RMR Inc. per common share - diluted $ 3.22 $ 4.39
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 December 31, 2018 2017 Basic EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating basic EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Net income attributable to RMR Inc. per common share - basic $ 3.22 $ 4.40 Diluted EPS Numerator: Net income attributable to RMR Inc. $ 52,209 $ 71,120 Income attributable to unvested participating securities (353 ) (457 ) Net income attributable to RMR Inc. used in calculating diluted EPS $ 51,856 $ 70,663 Denominator: Weighted average common shares outstanding - basic 16,120 16,060 Dilutive effect of incremental unvested shares 11 24 Weighted average common shares outstanding - diluted 16,131 16,084 Net income attributable to RMR Inc. per common share - diluted $ 3.22 $ 4.39

Net Income Attributable to RM_2

Net Income Attributable to RMR Inc. (Tables)	3 Months Ended
	Dec. 31, 2018
Net Income Attributable to RMR Inc.
Schedule of net income attributable to parent	Net income attributable to RMR Inc. for the three months ended December 31, 2018 and 2017 , is calculated as follows: Three Months Ended December 31, 2018 2017 Income before income tax expense and equity in losses of investees $ 139,784 $ 207,889 Add: RMR Inc. franchise tax expense and interest income 94 159 Less: tax receivable agreement remeasurement — (24,710 ) Less: unrealized loss on equity method investment accounted for under the fair value option (2,769 ) — Less: equity in losses of investees 35 (222 ) Less: fees from services provided prior to June 5, 2015 — (128 ) Net income before noncontrolling interest 137,144 182,988 Less: net income attributable to noncontrolling interest (65,871 ) (88,076 ) Net income attributable to RMR Inc. before income tax expense 71,273 94,912 Add: tax receivable agreement remeasurement — 24,710 Less: income tax expense attributable to RMR Inc. (18,970 ) (48,343 ) Less: RMR Inc. franchise tax expense and interest income (94 ) (159 ) Net income attributable to RMR Inc. $ 52,209 $ 71,120

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of segment reporting information	Three months ended December 31, 2018 All Other RMR LLC (1) Operations Total Revenues: Management services $ 47,488 $ — $ 47,488 Incentive business management fees 120,094 — 120,094 Advisory services — 782 782 Total management and advisory services revenues 167,582 782 168,364 Reimbursable compensation and benefits 13,308 565 13,873 Other client company reimbursable expenses 98,076 — 98,076 Total reimbursable costs 111,384 565 111,949 Total revenues 278,966 1,347 280,313 Expenses: Compensation and benefits 26,425 1,587 28,012 Equity based compensation 1,784 27 1,811 Separation costs 6,397 — 6,397 Total compensation and benefits expense 34,606 1,614 36,220 General and administrative 6,385 935 7,320 Other client company reimbursable expenses 98,076 — 98,076 Transaction and acquisition related costs 184 — 184 Depreciation and amortization 242 13 255 Total expenses 139,493 2,562 142,055 Operating income (loss) 139,473 (1,215 ) 138,258 Interest and other income 1,373 153 1,526 Income (loss) before income tax expense and equity in losses of investees 140,846 (1,062 ) 139,784 Income tax expense — (18,970 ) (18,970 ) Unrealized loss on equity investment accounted for under the fair value option (2,769 ) — (2,769 ) Equity in losses of investees — 35 35 Net income (loss) $ 138,077 $ (19,997 ) $ 118,080 Total Assets: $ 625,116 $ 65,183 $ 690,299 (1) Intersegment revenues of $848 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 December 31, 2017 All Other RMR LLC (1) Operations Total Revenues: Management services $ 48,570 $ — $ 48,570 Incentive business management fees 155,881 — 155,881 Advisory services — 1,382 1,382 Total management and advisory services revenues 204,451 1,382 205,833 Reimbursable compensation and benefits 12,089 619 12,708 Total reimbursable costs 12,089 619 12,708 Total revenues 216,540 2,001 218,541 Expenses: Compensation and benefits 24,748 1,449 26,197 Equity based compensation 2,707 14 2,721 Total compensation and benefits expense 27,455 1,463 28,918 General and administrative 5,656 1,050 6,706 Transaction and acquisition related costs — 142 142 Depreciation and amortization 358 22 380 Total expenses 33,469 2,677 36,146 Operating income (loss) 183,071 (676 ) 182,395 Interest and other income 726 58 784 Tax receivable agreement remeasurement — 24,710 24,710 Income before income tax expense and equity in losses of investees 183,797 24,092 207,889 Income tax expense — (48,343 ) (48,343 ) Equity in earnings (losses) of investees — (222 ) (222 ) Net income (loss) $ 183,797 $ (24,473 ) $ 159,324 Total Assets: $ 460,121 $ 69,666 $ 529,787 (1) Intersegment revenues of $988 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)	3 Months Ended
	Dec. 31, 2018shares
RMR LLC
Related Party Transaction [Line Items]
Ownership percentage	52.00%
Class B membership units
Related Party Transaction [Line Items]
Membership units (in units)	1,000,000
Class A common shares | Class A membership units
Related Party Transaction [Line Items]
Membership units (in units)	15,229,687,000
Capital Unit Redeemable Class A Units | ABP Trust
Related Party Transaction [Line Items]
Membership units (in units)	15,000,000
Ownership percentage	48.00%

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Due from related parties	$ 195,916	$ 37,029
Total reimbursable costs
Disaggregation of Revenue [Line Items]
Revenue	111,949	$ 12,708
Accounts payable and accrued expenses
Disaggregation of Revenue [Line Items]
Due from related parties	$ 47,195

Revenue Recognition - Managed E

Revenue Recognition - Managed Equity REITs (Details) - Managed REITs - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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
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
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	3 years	3 years
Aggregate base business management fees	$ 28,271	$ 30,602
Aggregate incentive business management fees	$ 120,094	$ 155,881

Revenue Recognition - Business

Revenue Recognition - Business Management Fees (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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	$ 7,395	$ 6,872
AIC
Related Party Transaction [Line Items]
Business management fee percent based on total premiums paid	3.00%
Open End Fund
Related Party Transaction [Line Items]
Management fee as a percent of NAV	1.00%

Revenue Recognition - Property

Revenue Recognition - Property Management Fees (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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	$ 11,770	$ 10,858

Revenue Recognition - Reimbursa

Revenue Recognition - Reimbursable Payroll Related and Other Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Equity based compensation expense and related reimbursements	$ 1,316	$ 2,155
Reimbursable compensation and benefits
Disaggregation of Revenue [Line Items]
Revenue	$ 13,873	$ 12,708

Revenue Recognition - Advisory

Revenue Recognition - Advisory Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Tremont Advisors
Related Party Transaction [Line Items]
Business management fee percent based on management agreements	1.50%
Minimum | Tremont Advisors
Related Party Transaction [Line Items]
Advisory fee percentage based on aggregate principal amounts of loan originate	0.50%
Maximum | Tremont Advisors
Related Party Transaction [Line Items]
Advisory fee percentage based on aggregate principal amounts of loan originate	1.00%
Advisory services
Related Party Transaction [Line Items]
Revenue	$ 782	$ 1,382
Management services
Related Party Transaction [Line Items]
Revenue	$ 47,488	48,570
RIF
Related Party Transaction [Line Items]
Advisory fee percent	0.85%
RMR Advisors and Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Revenue	$ 733	729
Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Revenue	49	653
Tremont Advisors | Management services
Related Party Transaction [Line Items]
Revenue	$ 52	$ 238

Equity Investments (Details)

Equity Investments (Details) - USD ($) $ in Thousands	Oct. 10, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Schedule of Equity Method Investments [Line Items]
Equity method investment		$ 7,086		$ 7,051
Equity in earnings (losses) of investees		35	$ (222)
Unrealized losses on equity method investments		$ 2,769	0
Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Ownership percentage (for TA, less than)		18.90%
Equity in earnings (losses) of investees		$ (35)	(201)
TA
Schedule of Equity Method Investments [Line Items]
Ownership percentage (for TA, less than)		4.00%
Quoted market value		$ 5,613
Open End Fund
Schedule of Equity Method Investments [Line Items]
Ownership percentage (for TA, less than)		0.50%
Equity in earnings (losses) of investees			$ (21)
Tremont Advisors | Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Number of shares owned (in shares)		600,100
Ownership percentage (for TA, less than)		18.90%
Equity method investment		$ 7,086
Quoted market value		$ 5,431
RMR LLC | TA
Schedule of Equity Method Investments [Line Items]
Shares purchased (in shares)	1,492,691
Purchases from related party	$ 8,382

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Income Tax Contingency [Line Items]
Income taxes computed at the federal statutory rate	21.00%	24.50%	24.50%
Income tax expense	$ 18,970	$ 48,343
Federal income tax expense	13,842	37,730
State income tax expense	5,128	10,613
Adjustment to deferred tax asset	$ 19,817	19,817
ABP Trust
Income Tax Contingency [Line Items]
Tax receivable agreement remeasurement		$ 24,710

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes computed at the federal statutory rate	21.00%	24.50%	24.50%
State taxes, net of federal benefit	3.00%	2.50%
Tax Cuts and Jobs Act transitional impact	0.00%	9.60%
Permanent items	(0.10%)	(2.90%)
Net income attributable to noncontrolling interest	(10.10%)	(10.40%)
Total	13.80%	23.30%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Recurring basis - Level 1 - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Schedule of assets and liabilities measured at fair value
Money market funds included in cash and cash equivalents	$ 283,604	$ 253,876
Current portion of due from related parties related to share based payment awards	2,613	4,986
Long term portion of due from related parties related to share based payment awards	5,131	8,183
Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses	2,613	4,986
Long term portion of employer compensation liability related to share based payment awards	$ 5,131	$ 8,183

Related Person Transactions - N

Related Person Transactions - Narrative (Details)	3 Months Ended
	Dec. 31, 2018USD ($)shares
Five Star
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	35.70%
HPT
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	1.10%
ILPT
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	1.20%
OPI
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	1.50%
SNH
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	1.10%
TA
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	4.00%
RIF
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	2.20%
TRMT
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	18.90%
Open End Fund
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	0.50%
ABP Trust | AIC
Related Party Transaction [Line Items]
Ownership percentage (for TA, less than)	14.30%
ABP Trust | Open End Fund
Related Party Transaction [Line Items]
Shares owned (in shares)	206,300
ABP Trust | Class A common shares
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	132,002,000
ABP Trust | Class A Units
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	15,000,000
HPT | Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	2,503,777,000
OPI | Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	2,801,061,000
SNH | Class A common shares
Related Party Transaction [Line Items]
Shares owned (in shares)	2,637,408,000
Open End Fund | RMR LLC
Related Party Transaction [Line Items]
Committed capital | $	$ 100,000,000

Related Person Transactions - R

Related Person Transactions - Revenues from Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Revenue from related parties	$ 280,243	$ 217,913
Revenue from unrelated parties	70	628
Total revenues	$ 280,313	$ 218,541
Percentage of revenues from related parties	100.00%	99.70%
Percentage of revenues from unrelated parties	0.00%	0.30%
Percentage of revenue from related parties, net	100.00%	100.00%
Managed REITs
Related Party Transaction [Line Items]
Revenue from related parties	$ 264,920	$ 208,110
Percentage of revenues from related parties	94.60%	95.20%
HPT
Related Party Transaction [Line Items]
Revenue from related parties	$ 66,395	$ 86,066
Percentage of revenues from related parties	23.70%	39.40%
ILPT
Related Party Transaction [Line Items]
Revenue from related parties	$ 8,460	$ 0
Percentage of revenues from related parties	3.00%	0.00%
OPI
Related Party Transaction [Line Items]
Revenue from related parties	$ 56,243	$ 13,509
Percentage of revenues from related parties	20.10%	6.20%
SIR
Related Party Transaction [Line Items]
Revenue from related parties	$ 47,843	$ 36,990
Percentage of revenues from related parties	17.10%	16.90%
SNH
Related Party Transaction [Line Items]
Revenue from related parties	$ 85,979	$ 71,545
Percentage of revenues from related parties	30.70%	32.70%
Managed Operators
Related Party Transaction [Line Items]
Revenue from related parties	$ 7,023	$ 7,029
Percentage of revenues from related parties	2.60%	3.20%
Five Star
Related Party Transaction [Line Items]
Revenue from related parties	$ 2,413	$ 2,690
Percentage of revenues from related parties	0.90%	1.20%
Sonesta
Related Party Transaction [Line Items]
Revenue from related parties	$ 757	$ 568
Percentage of revenues from related parties	0.30%	0.30%
TA
Related Party Transaction [Line Items]
Revenue from related parties	$ 3,853	$ 3,771
Percentage of revenues from related parties	1.40%	1.70%
Other
Related Party Transaction [Line Items]
Revenue from related parties	$ 8,300	$ 2,774
Percentage of revenues from related parties	2.80%	1.30%
ABP Trust
Related Party Transaction [Line Items]
Revenue from related parties	$ 3,335	$ 1,279
Percentage of revenues from related parties	1.20%	0.60%
AIC
Related Party Transaction [Line Items]
Revenue from related parties	$ 60	$ 60
Percentage of revenues from related parties	0.00%	0.00%
Open End Fund
Related Party Transaction [Line Items]
Revenue from related parties	$ 3,477	$ 0
Percentage of revenues from related parties	1.20%	0.00%
RIF
Related Party Transaction [Line Items]
Revenue from related parties	$ 733	$ 729
Percentage of revenues from related parties	0.20%	0.40%
TRMT
Related Party Transaction [Line Items]
Revenue from related parties	$ 695	$ 706
Percentage of revenues from related parties	0.20%	0.30%

Related Person Transactions - F

Related Person Transactions - Footnotes to Revenue from Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
HPT
Related Party Transaction [Line Items]
Aggregate incentive business management fees	$ 53,635	$ 74,572
SIR
Related Party Transaction [Line Items]
Aggregate incentive business management fees	25,817	25,569
SNH
Related Party Transaction [Line Items]
Aggregate incentive business management fees	40,642	55,740
Other client company reimbursable expenses
Related Party Transaction [Line Items]
Revenue	98,076	0
Reimbursable compensation and benefits
Related Party Transaction [Line Items]
Revenue	$ 13,873	$ 12,708

Related Person Transactions - D

Related Person Transactions - Due from/to Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due from related parties	$ 195,916	$ 37,029
Managed REITs
Related Party Transaction [Line Items]
Due from related parties	190,554	34,545
HPT
Related Party Transaction [Line Items]
Due from related parties	63,239	8,391
ILPT
Related Party Transaction [Line Items]
Due from related parties	4,055	2,692
OPI
Related Party Transaction [Line Items]
Due from related parties	65,085	7,870
SIR
Related Party Transaction [Line Items]
Due from related parties	0	5,887
SNH
Related Party Transaction [Line Items]
Due from related parties	58,175	9,705
Managed Operators
Related Party Transaction [Line Items]
Due from related parties	863	910
Five Star
Related Party Transaction [Line Items]
Due from related parties	205	281
Sonesta
Related Party Transaction [Line Items]
Due from related parties	21	30
TA
Related Party Transaction [Line Items]
Due from related parties	637	599
Other
Related Party Transaction [Line Items]
Due from related parties	4,499	1,574
ABP Trust
Related Party Transaction [Line Items]
Due from related parties	1,400	383
AIC
Related Party Transaction [Line Items]
Due from related parties	27	20
Open End Fund
Related Party Transaction [Line Items]
Due from related parties	2,284	608
RIF
Related Party Transaction [Line Items]
Due from related parties	28	31
TRMT
Related Party Transaction [Line Items]
Due from related parties	$ 760	$ 532

Related Person Transactions - A

Related Person Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Other client company reimbursable expenses	$ 98,076	$ 0
HPT
Related Party Transaction [Line Items]
Other client company reimbursable expenses	2,702
ILPT
Related Party Transaction [Line Items]
Other client company reimbursable expenses	1,758
OPI
Related Party Transaction [Line Items]
Other client company reimbursable expenses	29,864
SNH
Related Party Transaction [Line Items]
Other client company reimbursable expenses	10,004
ABP Trust
Related Party Transaction [Line Items]
Other client company reimbursable expenses	1,112
AIC
Related Party Transaction [Line Items]
Other client company reimbursable expenses	7
Open End Fund
Related Party Transaction [Line Items]
Other client company reimbursable expenses	1,470
TRMT
Related Party Transaction [Line Items]
Other client company reimbursable expenses	278
ABP Trust and Managed REIT
Related Party Transaction [Line Items]
Rental expense	$ 1,287	$ 1,028

Related Person Transactions - T

Related Person Transactions - Tax Related Payments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
RMR LLC
Related Party Transaction [Line Items]
Tax distributions		$ 8,685	$ 16,333
ABP Trust
Related Party Transaction [Line Items]
Tax receivable agreement remeasurement			24,710
Tax receivable agreement remeasurement (in dollars per share)		$ 1.53
ABP Trust | RMR LLC
Related Party Transaction [Line Items]
Tax distributions		$ 8,037	15,155
ABP Trust | Up C Transaction
Related Party Transaction [Line Items]
Tax receivable agreement, percent of payment		85.00%
Liability related to Tax Receivable Agreement		$ 34,327
ABP Trust | Up C Transaction | Forecast
Related Party Transaction [Line Items]
Payments related to Tax Receivable Agreement	$ 2,279
ABP Trust and Managed REIT | RMR LLC
Related Party Transaction [Line Items]
Tax distributions		$ 16,722	$ 31,488

Related Person Transactions - O

Related Person Transactions - Other (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Feb. 04, 2019	Dec. 31, 2018	Nov. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Related Party Transaction [Line Items]
Separation costs							$ 6,397	$ 0
Equity based compensation							1,811	$ 2,721
Resignation of Other Non-Executive Employees of RMR LLC
Related Party Transaction [Line Items]
Separation costs									$ 11
Executive Vice President | John C. Popeo | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction					$ 963
Executive Vice President | John C. Popeo | Retirement Agreement
Related Party Transaction [Line Items]
Separation costs							1,953
Equity based compensation							537
Executive Vice President | Mark L. Kleifges | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction				$ 1,594
Executive Vice President | Mark L. Kleifges | Retirement Agreement
Related Party Transaction [Line Items]
Separation costs							3,234
Equity based compensation							$ 537
Executive Vice President | Bruce J. Mackey Jr. | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction				$ 600
Executive Vice President | Bruce J. Mackey Jr. | Retirement Agreement
Related Party Transaction [Line Items]
Separation costs									$ 125
Forecast | Executive Vice President | John C. Popeo | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction		$ 963
Forecast | Executive Vice President | Mark L. Kleifges | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction	$ 1,594
Forecast | Executive Vice President | Bruce J. Mackey Jr. | Cash Bonus
Related Party Transaction [Line Items]
Related party transaction						$ 550
RMR LLC | Forecast | Executive Vice President | Bruce J. Mackey Jr. | Cash Bonus
Related Party Transaction [Line Items]
Percentage of payment to related party						20.00%
Five Star | Forecast | Executive Vice President | Bruce J. Mackey Jr. | Cash Bonus
Related Party Transaction [Line Items]
Percentage of payment to related party						80.00%
Subsequent event | TRMT | Credit Agreement
Related Party Transaction [Line Items]
Borrowing capacity			$ 25,000
Subsequent event | LIBOR | TRMT | Credit Agreement
Related Party Transaction [Line Items]
Basis spread on variable rate			6.50%

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 18, 2019	Nov. 15, 2018	Dec. 31, 2018	Sep. 30, 2018
Class A common shares
Class of Stock [Line Items]
Common stock shares outstanding (in shares)			15,229,687	15,229,957
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share)		$ 0.35
Value of dividends		$ 5,680
Common stock shares outstanding (in shares)		16,229,957	16,229,687
ABP Trust | Class A common shares
Class of Stock [Line Items]
Value of dividends		$ 4,500	$ 4,500
Common stock shares outstanding (in shares)			15,000,000
RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share)		$ 0.3
Value of dividends		$ 9,369
RMR LLC | RMR LLC | Class A and B-1 common shares
Class of Stock [Line Items]
Value of dividends		$ 4,869
Subsequent event | Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.35
Value of dividends	$ 5,680
Subsequent event | RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.30
Value of dividends	$ 9,369
Subsequent event | RMR LLC | RMR LLC | Class A and B-1 common shares
Class of Stock [Line Items]
Value of dividends	$ 4,869

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
	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income attributable to RMR Inc.	$ 52,209	$ 71,120
Income attributable to unvested participating securities	(353)	(457)
Net income attributable to RMR Inc. used in calculating basic EPS	$ 51,856	$ 70,663
Denominator:
Weighted average common shares outstanding - basic (in shares)	16,120	16,060
Net income attributable to RMR Inc. per common share - basic (in dollars per share)	$ 3.22	$ 4.40
Numerator:
Net income attributable to RMR Inc.	$ 52,209	$ 71,120
Income attributable to unvested participating securities	(353)	(457)
Net income attributable to RMR Inc. used in calculating diluted EPS	$ 51,856	$ 70,663
Denominator:
Weighted average common shares outstanding - basic (in shares)	16,120	16,060
Dilutive effect of incremental unvested shares (in shares)	11	24
Weighted average common shares outstanding - diluted (in shares)	16,131	16,084
Net income attributable to RMR Inc. per common share - diluted (in dollars per share)	$ 3.22	$ 4.39

Per Common Share Amounts - Addi

Per Common Share Amounts - Additional Information (Details)	3 Months Ended
	Dec. 31, 2018shares	Dec. 31, 2017shares
Class of Stock [Line Items]
Weighted average common stock shares outstanding diluted (in shares)	16,131,000	16,084,000
Class A membership units
Class of Stock [Line Items]
Antidilutive securities (in shares)	15,000,000,000
Conversion ratio	1
Weighted average common stock shares outstanding diluted (in shares)	30,229,687,000
Class B-1 common shares
Class of Stock [Line Items]
Conversion ratio	1

Net Income Attributable to RM_3

Net Income Attributable to RMR Inc. (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net Income Attributable to RMR Inc.
Income before income tax expense and equity in losses of investees	$ 139,784	$ 207,889
Add: RMR Inc. franchise tax expense and interest income	94	159
Less: tax receivable agreement remeasurement	0	(24,710)
Less: unrealized loss on equity method investment accounted for under the fair value option	(2,769)	0
Less: equity in losses of investees	35	(222)
Less: fees from services provided prior to June 5, 2015	0	(128)
Net income before noncontrolling interest	137,144	182,988
Less: net income attributable to noncontrolling interest	(65,871)	(88,076)
Net income attributable to RMR Inc. before income tax expense	71,273	94,912
Less: income tax expense attributable to RMR Inc.	(18,970)	(48,343)
Less: RMR Inc. franchise tax expense and interest income	(94)	(159)
Net income attributable to RMR Inc.	$ 52,209	$ 71,120

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)
Segment Reporting
Number of reportable business segments | segment	1
Revenues:
Total revenues	$ 280,313	$ 218,541
Expenses:
Compensation and benefits	28,012	26,197
Equity based compensation	1,811	2,721
Separation costs	6,397	0
Total compensation and benefits expense	36,220	28,918
General and administrative	7,320	6,706
Other client company reimbursable expenses	98,076	0
Transaction and acquisition related costs	184	142
Depreciation and amortization	255	380
Total expenses	142,055	36,146
Operating income (loss)	138,258	182,395
Interest and other income	1,526	784
Tax receivable agreement remeasurement	0	24,710
Income before income tax expense and equity in earnings (losses) of investee	139,784	207,889
Income tax expense	(18,970)	(48,343)
Unrealized loss on equity investment accounted for under the fair value option	(2,769)	0
Equity in earnings (losses) of investees	35	(222)
Net income (loss)	118,080	159,324
Total Assets	690,299	529,787	$ 504,428
Intersegment Eliminations
Revenues:
Total revenues	848	988
RMR LLC | Operating Segments
Revenues:
Total revenues	278,966	216,540
Expenses:
Compensation and benefits	26,425	24,748
Equity based compensation	1,784	2,707
Separation costs	6,397
Total compensation and benefits expense	34,606	27,455
General and administrative	6,385	5,656
Other client company reimbursable expenses	98,076
Transaction and acquisition related costs	184	0
Depreciation and amortization	242	358
Total expenses	139,493	33,469
Operating income (loss)	139,473	183,071
Interest and other income	1,373	726
Tax receivable agreement remeasurement		0
Income before income tax expense and equity in earnings (losses) of investee	140,846	183,797
Income tax expense	0	0
Unrealized loss on equity investment accounted for under the fair value option	(2,769)
Equity in earnings (losses) of investees	0	0
Net income (loss)	138,077	183,797
Total Assets	625,116	460,121
All Other Operations | Operating Segments
Revenues:
Total revenues	1,347	2,001
Expenses:
Compensation and benefits	1,587	1,449
Equity based compensation	27	14
Separation costs	0
Total compensation and benefits expense	1,614	1,463
General and administrative	935	1,050
Other client company reimbursable expenses	0
Transaction and acquisition related costs	0	142
Depreciation and amortization	13	22
Total expenses	2,562	2,677
Operating income (loss)	(1,215)	(676)
Interest and other income	153	58
Tax receivable agreement remeasurement		24,710
Income before income tax expense and equity in earnings (losses) of investee	(1,062)	24,092
Income tax expense	(18,970)	(48,343)
Unrealized loss on equity investment accounted for under the fair value option	0
Equity in earnings (losses) of investees	35	(222)
Net income (loss)	(19,997)	(24,473)
Total Assets	65,183	69,666
Total management and advisory services revenues
Revenues:
Revenue	168,364	205,833
Total management and advisory services revenues | RMR LLC | Operating Segments
Revenues:
Revenue	167,582	204,451
Total management and advisory services revenues | All Other Operations | Operating Segments
Revenues:
Revenue	782	1,382
Management services
Revenues:
Revenue	47,488	48,570
Management services | RMR LLC | Operating Segments
Revenues:
Revenue	47,488	48,570
Management services | All Other Operations | Operating Segments
Revenues:
Revenue	0	0
Incentive business management fees
Revenues:
Revenue	120,094	155,881
Incentive business management fees | RMR LLC | Operating Segments
Revenues:
Revenue	120,094	155,881
Incentive business management fees | All Other Operations | Operating Segments
Revenues:
Revenue	0	0
Advisory services
Revenues:
Revenue	782	1,382
Advisory services | RMR LLC | Operating Segments
Revenues:
Revenue	0	0
Advisory services | All Other Operations | Operating Segments
Revenues:
Revenue	782	1,382
Total reimbursable costs
Revenues:
Revenue	111,949	12,708
Total reimbursable costs | RMR LLC | Operating Segments
Revenues:
Revenue	111,384	12,089
Total reimbursable costs | All Other Operations | Operating Segments
Revenues:
Revenue	565	619
Reimbursable compensation and benefits
Revenues:
Revenue	13,873	12,708
Reimbursable compensation and benefits | RMR LLC | Operating Segments
Revenues:
Revenue	13,308	12,089
Reimbursable compensation and benefits | All Other Operations | Operating Segments
Revenues:
Revenue	565	619
Other client company reimbursable expenses
Revenues:
Revenue	98,076	$ 0
Other client company reimbursable expenses | RMR LLC | Operating Segments
Revenues:
Revenue	98,076
Other client company reimbursable expenses | All Other Operations | Operating Segments
Revenues:
Revenue	$ 0