The RMR Group Inc. (RMR) 10-Q 11 May 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Mar. 31, 2020	May 08, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-37616
Entity Registrant Name	RMR GROUP INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-4122583
Entity Address, Address Line One	Two Newton Place
Entity Address, Address Line Two	255 Washington Street
Entity Address, Address Line Three	Suite 300
Entity Address, City or Town	Newton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02458-1634
City Area Code	617
Local Phone Number	796-8230
Title of 12(b) Security	Class A common stock, $0.001 par value per share
Trading Symbol	RMR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Central Index Key	0001644378
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Current Fiscal Year End Date	2020
Document Fiscal Period Focus	Q2
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		15,314,479
Class B-1 Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,000,000
Class B-2 Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		15,000,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 377,362	$ 358,448
Due from related parties	74,150	93,521
Prepaid and other current assets	5,046	5,848
Total current assets	456,558	457,817
Property and equipment, net	2,200	2,383
Due from related parties, net of current portion	4,978	9,238
Equity method investment	6,532	6,658
Equity method investment accounted for under the fair value option	2,920	3,682
Goodwill	1,859	1,859
Intangible assets, net of amortization	300	323
Operating lease right of use assets	36,878
Deferred tax asset	25,264	25,729
Other assets, net of amortization	148,435	153,143
Total assets	685,924	660,832
Current liabilities:
Other client company reimbursable expenses	50,577	65,909
Accounts payable and accrued expenses	22,074	20,266
Operating lease liabilities	4,302
Employer compensation liability	1,665	4,814
Total current liabilities	78,618	90,989
Deferred rent payable, net of current portion		1,620
Operating lease liabilities, net of current portion	34,268
Amounts due pursuant to tax receivable agreement, net of current portion	29,950	29,950
Employer compensation liability, net of current portion	4,978	9,238
Total liabilities	147,814	131,797
Commitments and contingencies
Equity:
Additional paid in capital	105,265	103,360
Retained earnings	273,374	257,457
Cumulative common distributions	(84,583)	(72,194)
Total shareholders’ equity	294,087	288,654
Noncontrolling interest	244,023	240,381
Total equity	538,110	529,035
Total liabilities and equity	685,924	660,832
Class A Common Stock
Equity:
Common stock	15	15
Class B-1 Common Stock
Equity:
Common stock	1	1
Class B-2 Common Stock
Equity:
Common stock	$ 15	$ 15

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Sep. 30, 2019
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	31,600,000	31,600,000
Common stock, shares issued (in shares)	15,314,479	15,302,710
Common stock shares outstanding (in shares)	15,314,479	15,302,710
Class B-1 Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, shares issued (in shares)	1,000,000	1,000,000
Common stock shares outstanding (in shares)	1,000,000	1,000,000
Class B-2 Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	15,000,000	15,000,000
Common stock shares outstanding (in shares)	15,000,000	15,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenue	$ 140,861		$ 130,096		$ 300,753	$ 410,409
Expenses:
Compensation and benefits	30,122		28,981		60,319	56,993
Equity based compensation	302		1,204		1,884	3,015
Separation costs	385		414		645	6,811
Total compensation and benefits expense	30,809		30,599		62,848	66,819
General and administrative	7,297		7,122		14,343	14,442
Other client company reimbursable expenses	84,227		73,323		182,202	171,399
Transaction and acquisition related costs	373		47		1,169	231
Depreciation and amortization	246		257		502	512
Total expenses	122,952		111,348		261,064	253,403
Operating income	17,909		18,748		39,689	157,006
Interest and other income	1,500		2,468		3,375	3,994
Equity in earnings of investees	324		109		579	144
Unrealized (loss) gain on equity method investment accounted for under the fair value option	(2,200)		522		(762)	(2,247)
Income (loss) before income tax expense	17,533		21,847		42,881	158,897
Income tax expense	(2,612)		(3,139)		(6,336)	(22,109)
Net income (loss)	14,921	$ 21,624	18,708	$ 118,080	36,545	136,788
Net income attributable to noncontrolling interest	(8,453)		(10,540)		(20,628)	(76,411)
Net income attributable to The RMR Group Inc.	$ 6,468		$ 8,168		$ 15,917	$ 60,377
Weighted average common shares outstanding - basic (in shares)	16,186		16,120		16,181	16,120
Weighted average common shares outstanding - diluted (in shares)	31,186		16,147		31,181	16,140
Net income attributable to RMR Inc. per common share - basic (in dollars per share)	$ 0.40		$ 0.50		$ 0.98	$ 3.72
Net income attributable to RMR Inc. per common share - diluted (in dollars per share)	$ 0.39		$ 0.50		$ 0.96	$ 3.72
Total management and advisory services revenues
Revenues:
Revenue	$ 44,101		$ 43,361		$ 92,223	$ 211,725
Management services
Revenues:
Revenue	43,321		42,600		90,596	90,088
Incentive business management fees
Revenues:
Revenue	0		0		0	120,094
Advisory services
Revenues:
Revenue	780		761		1,627	1,543
Total reimbursable costs
Revenues:
Revenue	96,760		86,735		208,530	198,684
Reimbursable compensation and benefits
Revenues:
Revenue	12,533		13,412		26,328	27,285
Other client company reimbursable expenses
Revenues:
Revenue	$ 84,227		$ 73,323		$ 182,202	$ 171,399

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common sharesClass A Common Stock	Common sharesClass B-1 Common Stock	Common sharesClass B-2 Common Stock	Additional Paid In Capital	Retained Earnings	Cumulative Other Comprehensive Income	Cumulative Common Distributions	Total Shareholders' Equity	Noncontrolling Interest
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
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
Net income	136,788
Balance ending at Mar. 31, 2019	533,778	15	1	15	101,670	243,254	0	(60,827)	284,128	249,650
Balance beginning at Dec. 31, 2018	536,089	15	1	15	100,808	235,086	80	(55,147)	280,858	255,231
Increase (Decrease) in Shareholders' Equity
Share grants, net	862				862				862
Net income	18,708					8,168			8,168	10,540
Tax distributions to Member	(11,616)									(11,616)
Common share distributions	(10,180)							(5,680)	(5,680)	(4,500)
Other comprehensive loss	(10)						(5)		(5)	(5)
Reclassification due to disposition of our Australian operations	(75)						(75)		(75)
Balance ending at Mar. 31, 2019	533,778	15	1	15	101,670	243,254	$ 0	(60,827)	284,128	249,650
Balance beginning at Sep. 30, 2019	529,035	15	1	15	103,360	257,457		(72,194)	288,654	240,381
Increase (Decrease) in Shareholders' Equity
Share grants, net	634				634				634
Net income	21,624					9,449			9,449	12,175
Tax distributions to Member	(3,830)									(3,830)
Common share distributions	(10,695)							(6,195)	(6,195)	(4,500)
Balance ending at Dec. 31, 2019	536,768	15	1	15	103,994	266,906		(78,389)	292,542	244,226
Balance beginning at Sep. 30, 2019	529,035	15	1	15	103,360	257,457		(72,194)	288,654	240,381
Increase (Decrease) in Shareholders' Equity
Net income	36,545
Balance ending at Mar. 31, 2020	538,110	15	1	15	105,265	273,374		(84,583)	294,087	244,023
Balance beginning at Dec. 31, 2019	536,768	15	1	15	103,994	266,906		(78,389)	292,542	244,226
Increase (Decrease) in Shareholders' Equity
Share grants, net	1,271				1,271				1,271
Net income	14,921					6,468			6,468	8,453
Tax distributions to Member	(4,156)									(4,156)
Common share distributions	(10,694)							(6,194)	(6,194)	(4,500)
Balance ending at Mar. 31, 2020	$ 538,110	$ 15	$ 1	$ 15	$ 105,265	$ 273,374		$ (84,583)	$ 294,087	$ 244,023

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net income	$ 36,545	$ 136,788
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	502	512
Straight line office rent	72	123
Amortization expense related to other assets	4,708	4,707
Deferred income taxes	465	363
Operating expenses paid in The RMR Group Inc. common shares	2,000	2,431
Equity in earnings of investees	(579)	(144)
Distributions from equity method investments	705	66
Unrealized loss on equity method investment accounted for under the fair value option	762	2,247
Changes in assets and liabilities:
Due from related parties	16,223	(36,762)
Prepaid and other current assets	802	3,579
Other client company reimbursable expenses	(15,332)	44,321
Accounts payable and accrued expenses	1,863	17,639
Net cash from operating activities	48,736	175,870
Cash Flows from Investing Activities:
Purchase of property and equipment	(352)	(125)
Equity method investment in TravelCenters of America Inc.	0	(8,382)
Net cash used in investing activities	(352)	(8,507)
Cash Flows from Financing Activities:
Distributions to noncontrolling interest	(16,986)	(28,653)
Distributions to common shareholders	(12,389)	(11,360)
Repurchase of common shares	(95)	0
Net cash used in financing activities	(29,470)	(40,013)
Effect of exchange rate fluctuations on cash and cash equivalents	0	(85)
Increase in cash and cash equivalents	18,914	127,265
Cash and cash equivalents at beginning of period	358,448	256,848
Cash and cash equivalents at end of period	377,362	384,113
Supplemental Cash Flow Information:
Income taxes paid	6,320	15,399
Supplemental Schedule of Non-Cash Activities:
Fair value of share based payments recorded	658	2,072
Recognition of right of use assets and related lease liabilities	$ 39,746	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2020
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 March 31, 2020 , RMR Inc. owned 15,314,479 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 52.1% of the economic interest of RMR LLC as of March 31, 2020 . 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 47.9% of the economic interest of RMR LLC as of March 31, 2020 , 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 all of ABP Trust’s voting securities. RMR LLC was founded in 1986 to manage public investments in real estate and, as of March 31, 2020 , managed a diverse portfolio of publicly owned real estate and real estate related businesses. RMR LLC provides management services to four publicly traded real estate investment trusts, or REITs: Diversified Healthcare Trust, or DHC, which owns medical office and life science properties, senior living communities and wellness centers; Industrial Logistics Properties Trust, or ILPT, which owns and leases industrial and logistics properties; Office Properties Income Trust, or OPI, which owns office properties primarily leased to single tenants and those with high quality credit characteristics, including the government; and Service Properties Trust, or SVC, which owns a diverse portfolio of hotels and net lease service and necessity-based retail 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), or 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. DHC, ILPT, OPI, SVC 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 DHC; 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, many of whose U.S. hotels are owned by SVC; and TravelCenters of America Inc., or TA, an operator and franchisor of travel centers along the U.S. Interstate Highway System, many of which are owned by SVC, standalone truck service facilities 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, until its dissolution on February 13, 2020, 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 currently a closed end investment company focused on investing in real estate securities, including REITs and other dividend paying securities, but excluding our Client Companies, as defined below. On April 16, 2020, RIF’s shareholders approved its plan to convert from a registered investment company to a commercial mortgage REIT and RIF is in the preliminary stages of implementing a plan to execute this conversion. Tremont Realty Advisors LLC, or Tremont Advisors, an investment adviser registered with the SEC, was formed 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 Tremont Mortgage Trust, or TRMT, a publicly traded mortgage real estate investment trust, and, as of December 18, 2019, Centre Street Finance LLC, or Centre Street, a private fund. Both TRMT and Centre Street focus primarily on originating and investing in first mortgage whole loans secured by middle market and transitional commercial real estate. Centre Street is a direct wholly owned subsidiary of ABP Trust. TRMT, together with Centre Street, are referred to as the Tremont Advisory Clients. The Tremont business also acts as a transaction originator for non-investment advisory clients for negotiated fees. In these financial statements, we refer to the Managed Equity REITs, the Managed Operators, RIF, TRMT, AIC, ABP Trust, the Open End Fund, Centre Street 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, 2019, or our 2019 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	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-02, Leases , as amended, or ASU No. 2016-02, 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 determines 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 twelve months regardless of their classification. On October 1, 2019, we adopted ASU No. 2016-02 along with certain allowable practical expedients using the modified retrospective transition approach. We elected to apply the guidance to each lease that had commenced as of the adoption date. We also elected a package of practical expedients that allowed us not to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) the recognition requirements for initial direct costs for any expired or existing leases. Additionally, we elected to account for the lease and non-lease components as a single lease component. The adoption of ASU No. 2016-02 did not affect our condensed consolidated statements of income and cash flows. See Note 10, Leases , for further information regarding the adoption of ASU No. 2016-02. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments , or ASU No. 2016-13, 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. The effective date for us is the first day of fiscal year 2021 (October 1, 2020). 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.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Base 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. 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 March 31, 2020 and 2019 , we earned aggregate base business management fees from the Managed Equity REITs of $24,527 and $25,536 , respectively. For the six months ended March 31, 2020 and 2019 , we earned aggregate base business management fees from the Managed Equity REITs of $51,918 and $53,807 , 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, which are payable in cash, are contingent performance based fees recognized only when earned at the end of each respective measurement period. 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 period for the annual incentive business management fees is defined as the three year period ending on December 31 of the year for which such fee is being calculated, except for ILPT, whose annual incentive business management fee is based on a shorter period from its initial public offering on January 12, 2018 through the applicable calendar year end. 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 six months ended March 31, 2020 and 2019 , we recognized aggregate incentive business management fees earned from the Managed Equity REITs of zero and $120,094 , 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 until December 31, 2019, 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. Effective January 1, 2020, management fees earned from ABP Trust are equal to 0.5% of ABP Trust’s average invested capital, as defined in the management agreement. These fees are estimated and payable monthly in advance. Until June 30, 2019, we earned 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. AIC’s property insurance program expired on June 30, 2019 and was not continued. As a result, we have not earned any management fees from AIC since that date through AIC’s dissolution on February 13, 2020. 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 $6,984 and $6,752 for the three months ended March 31, 2020 and 2019 , respectively, and $13,663 and $14,147 for the six months ended March 31, 2020 and 2019 , respectively. Property Management Fees We earn 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 $11,708 and $10,207 for the three months ended March 31, 2020 and 2019 , respectively, and $24,233 and $21,977 for the six months ended March 31, 2020 and 2019 , respectively. Advisory Services and Other Agreements RMR Advisors is compensated pursuant to its agreement with RIF at an annual rate of 0.85% of RIF’s average daily managed assets. 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 $743 and $725 for the three months ended March 31, 2020 and 2019 , respectively, and $1,554 and $1,458 for the six months ended March 31, 2020 and 2019 , respectively. Tremont Advisors is primarily compensated pursuant to its management agreements with TRMT and Centre Street at an annual rate of 1.5% of TRMT’s and Centre Street’s equity, respectively, as defined in the applicable agreements. Tremont Advisors may also earn an incentive fee under these management agreements for TRMT and (beginning the first full calendar quarter of 2021) Centre Street. Tremont Advisors has waived any business management and incentive fees otherwise due and payable by TRMT pursuant to the management agreement for the period beginning July 1, 2018 until June 30, 2020. Tremont Advisors earned advisory services revenue from the Tremont Advisory Clients of $37 and $36 for the three months ended March 31, 2020 and 2019 , respectively, and $73 and $85 for the six months ended March 31, 2020 and 2019 , respectively, in each case net of the fee waiver referenced above, as applicable. The Tremont business earns between 0.5% and 1.0% of the aggregate principal amounts of any loans it originates. The Tremont business earned fees for such origination services of $102 and $105 for the three months ended March 31, 2020 and 2019 , respectively, and $782 and $157 for the six months ended March 31, 2020 and 2019 , respectively, which amounts are included in management services revenue in our condensed consolidated statements of income. Reimbursable Compensation and Benefits Reimbursable compensation and benefits include reimbursements, at cost, that arise primarily 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 recognize the revenue for reimbursements when we incur the related reimbursable compensation and benefits and other costs on behalf of our Client Companies. We realized reimbursable compensation and benefits of $12,533 and $13,412 for the three months ended March 31, 2020 and 2019 , respectively, and $26,328 and $27,285 for the six months ended March 31, 2020 and 2019 , respectively. Included in reimbursable compensation and benefits are shared services fees we earn from the Tremont Advisory Clients for compensation and other costs related to the operation of the Tremont business. We earned shared services fees from the Tremont Advisory Clients of $368 and $370 for the three months ended March 31, 2020 and 2019 , respectively, and $714 and $706 for the six months ended March 31, 2020 and 2019 , respectively. 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 income over the requisite service periods. We record an equal offsetting amount as equity based compensation expense for the value of the grants of common shares from our Client Companies to certain of our officers and employees. We realized equity based compensation expense (income) and related reimbursements of $(290) and $756 for the three months ended March 31, 2020 and 2019 , respectively, and $658 and $2,072 for the six months ended March 31, 2020 and 2019 , respectively. During the three months ended March 31, 2020 , prior period equity based compensation for unvested shares was reversed as a result of Client Company share price declines from December 31, 2019 to March 31, 2020. Other Client Company Reimbursable Expenses Other client company reimbursable expenses 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 have determined that we control the services provided by third parties for our Client Companies and therefore we account for the cost of these services and the related reimbursement revenue on a gross basis. We realized other client company reimbursable expenses reflecting corresponding amounts in revenue and expense of $84,227 and $73,323 for the three months ended March 31, 2020 and 2019 , respectively, and $182,202 and $171,399 for the six months ended March 31, 2020 and 2019 , respectively.

Investments

Investments	6 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Equity Method Investments As of March 31, 2020 , Tremont Advisors owned 1,600,100 , or approximately 19.4% , of TRMT’s outstanding common shares. 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 earnings from our investment in TRMT included in equity in earnings of investees in our condensed consolidated statements of income was $324 and $109 for the three months ended March 31, 2020 and 2019 , respectively, and $579 and $144 for the six months ended March 31, 2020 and 2019 , respectively. Equity Method Investment Accounted for Under the Fair Value Option As of March 31, 2020 , we own 298,538 , or approximately 3.6% , of TA’s outstanding common shares. We purchased these shares on October 10, 2018 for $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 elected the fair value option to account for our equity method investment in TA and determine fair value using the closing price of TA’s common shares, which is a Level 1 fair value input. The market value of our investment in TA as of March 31, 2020 and September 30, 2019 , based on quoted market prices, was $2,920 and $3,682 , respectively. The unrealized (loss) gain in our condensed consolidated statements of income related to our investment in TA was $(2,200) and $522 for the three months ended March 31, 2020 and 2019 , respectively, and $(762) and $(2,247) for the six months ended March 31, 2020 and 2019 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2020
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. For the three months ended March 31, 2020 and 2019 , we recognized estimated income tax expense of $2,612 and $3,139 , respectively, which includes $1,901 and $2,290 , respectively, of U.S. federal income tax and $711 and $849 , respectively, of state income taxes. For the six months ended March 31, 2020 and 2019 , we recognized estimated income tax expense of $6,336 and $22,109 , respectively, which includes $4,678 and $16,132 , respectively, of U.S. federal income tax and $1,658 and $5,977 , respectively, of state income taxes. A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Income taxes computed at the federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 3.9 % 3.7 % 3.7 % 2.9 % Permanent items 0.1 % (0.2 )% 0.2 % 0.1 % Net income attributable to noncontrolling interest (10.1 )% (10.1 )% (10.1 )% (10.1 )% Total 14.9 % 14.4 % 14.8 % 13.9 % In December 2019, the Internal Revenue Service and Department of the Treasury released regulations expanding the applicability of limits on executive compensation deductions to more taxpayers, including executive compensation allocated to publicly held corporations by a partnership. The expanded application of these regulations results in increases to our effective income tax rate. 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 50.0% likely to be realized upon settlement. As of March 31, 2020 , we had no uncertain tax positions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of March 31, 2020 and September 30, 2019 , 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 March 31, 2020 and September 30, 2019 : March 31, September 30, 2020 2019 Money market funds included in cash and cash equivalents $ 298,240 $ 357,526 Current portion of due from related parties related to share based payment awards 1,665 4,814 Long term portion of due from related parties related to share based payment awards 4,978 9,238 Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses 1,665 4,814 Long term portion of employer compensation liability related to share based payment awards 4,978 9,238

Related Person Transactions

Related Person Transactions	6 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Person Transactions	Related Person Transactions Adam D. Portnoy, one of our Managing Directors, is the sole trustee of our controlling shareholder, ABP Trust, and owns all of ABP Trust’s voting securities and a majority of the economic interests of ABP Trust. As of March 31, 2020, Adam D. Portnoy beneficially owned, in aggregate, (i) 147,502 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. Matthew P. Jordan, our Executive Vice President, Chief Financial Officer and Treasurer is also an officer of ABP Trust and an officer and employee of RMR LLC. Adam D. Portnoy is also the chair of the board of trustees of each of the Managed Equity REITs, the chair of the board of directors of each of Five Star and TA, a managing trustee or managing director of each of the Managed REITs, Five Star, RIF and TA, a director of Sonesta (and its parent) and is a controlling shareholder of Sonesta. Jennifer B. Clark, our other Managing Director, is a managing trustee of DHC and RIF, a managing director of FVE and a director of Sonesta. Prior to its dissolution on February 13, 2020, Mr. Portnoy was a director of AIC and Ms. Clark was the president and chief executive officer of AIC. As of March 31, 2020 , Adam D. Portnoy beneficially owned, in aggregate, 6.3% of Five Star’s outstanding common shares, 1.1% of SVC’s outstanding common shares, 1.2% of ILPT’s outstanding common shares, 1.5% of OPI’s outstanding common shares, 1.1% of DHC’s outstanding common shares, 4.0% of TA’s outstanding common shares (including through RMR LLC), 2.3% of RIF’s outstanding common shares, and 19.5% of TRMT’s outstanding common shares (including through Tremont Advisors). The Managed Equity REITs have no employees. RMR LLC provides or arranges for all the personnel, overhead and services required for the operation of the Managed Equity REITs and AIC (until its dissolution on February 13, 2020), pursuant to management agreements with them. All the officers of the Managed Equity REITs and the Open End Fund are officers or employees of RMR LLC. TRMT has no employees. All the officers, overhead and required office space of TRMT are provided or arranged by Tremont Advisors. 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. RIF has no employees. All officers, overhead and required office space of RIF are provided or arranged by RMR Advisors. 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 March 31, 2020 , ABP Trust owned 100% of Centre Street and 206,300 limited partnership units, or 100% , of the Open End Fund and RMR LLC owned no limited partnership units of, 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 and is not entitled to any compensation for services rendered to the Open End Fund in its capacity as general partner. Until its dissolution on February 13, 2020, ABP Trust owned 14.3% of AIC. Additional information about our related person transactions appears in Note 8, Shareholders’ Equity , below and in our 2019 Annual Report. Revenues from Related Parties For the three and six months ended March 31, 2020 and 2019 , we recognized revenues from related parties as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 $ % $ % $ % $ % Managed Equity REITs: DHC (1) $ 41,047 29.1 % $ 36,851 28.3 % $ 84,604 28.1 % $ 122,830 29.9 % ILPT 10,274 7.3 6,874 5.3 26,615 8.8 15,334 3.7 OPI (2) 56,569 40.2 58,114 44.7 121,452 40.4 114,357 27.9 SIR (1) (2) — — — — — — 47,843 11.7 SVC (1) 17,061 12.1 11,449 8.8 36,185 12.0 77,844 19.0 124,951 88.7 113,288 87.1 268,856 89.3 378,208 92.2 Managed Operators: Five Star 2,450 1.7 2,439 1.9 4,726 1.6 4,852 1.2 Sonesta 643 0.5 782 0.6 1,268 0.4 1,539 0.4 TA 3,446 2.4 3,228 2.5 6,891 2.3 7,081 1.7 6,539 4.6 6,449 5.0 12,885 4.3 13,472 3.3 Other Client Companies: ABP Trust 2,854 2.1 3,935 3.0 6,171 2.2 7,270 1.8 AIC 5 — 60 — 96 — 120 — Open End Fund 4,919 3.5 4,633 3.6 8,915 3.0 8,110 2.0 RIF 743 0.5 725 0.5 1,554 0.5 1,458 0.3 TRMT 658 0.5 879 0.7 1,355 0.5 1,574 0.4 Centre Street 90 0.1 — — 90 — — — 9,269 6.7 10,232 7.8 18,181 6.2 18,532 4.5 Total revenues from related parties 140,759 100.0 129,969 99.9 299,922 99.8 410,212 100.0 Revenues from unrelated parties 102 — 127 0.1 831 0.2 197 — $ 140,861 100.0 % $ 130,096 100.0 % $ 300,753 100.0 % $ 410,409 100.0 % (1) The amounts for the six months ended March 31, 2019 include incentive business management fees of $40,642 , $25,817 and $53,635 , which RMR LLC earned for the 2018 calendar year from DHC, SIR and SVC, respectively, and which were paid in January 2019. (2) OPI acquired SIR by merger on December 31, 2018. This table presents revenues for the six months ended March 31, 2019 from SIR separately as they relate to a period prior to this merger. Amounts Due From Related Parties The following table represents amounts due from related parties as of the dates indicated: March 31, September 30, 2020 2019 Managed Equity REITs: DHC $ 19,428 $ 25,505 ILPT 6,508 10,630 OPI 33,900 39,233 SVC 13,070 18,933 72,906 94,301 Managed Operators: Five Star 203 136 Sonesta — 37 TA 348 392 551 565 Other Client Companies: ABP Trust 1,714 2,580 AIC 7 7 Open End Fund 2,807 4,567 RIF 79 75 TRMT 1,019 664 Centre Street 45 — 5,671 7,893 $ 79,128 $ 102,759 Leases As of March 31, 2020 , 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 of $1,430 and $1,571 for the three months ended March 31, 2020 and 2019 , respectively, and $2,863 and $2,858 for the six months ended March 31, 2020 and 2019 , 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. As of March 31, 2020 , our condensed consolidated balance sheet reflects a liability related to the tax receivable agreement of $32,061 , including $2,111 classified as a current liability that we expect to pay to ABP Trust during the fourth quarter of fiscal year 2020. 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, subject to future adjustment based on actual results. For the six months ended March 31, 2020 and 2019 , pursuant to the RMR LLC operating agreement, RMR LLC made required quarterly tax distributions to holders of its membership units totaling $16,792 and $40,909 , respectively, of which $8,806 and $21,256 , respectively, was distributed to us and $7,986 and $19,653 , 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. Separation Arrangements We entered into retirement agreements with each of Mark L. Kleifges, Bruce J. Mackey Jr. and John C. Popeo, each a former Executive Vice President of RMR LLC, between October 25, 2018 and December 11, 2018 in connection with their retirements. Pursuant to these agreements, we made various cash payments and accelerated the vesting of unvested shares RMR Inc. previously awarded to these retiring officers. We also enter into separation arrangements from time to time with other nonexecutive officers and employees of ours. There remains no further substantive performance obligations with respect to any such arrangements, and we in turn recognized all applicable provisions in our condensed consolidated statements of income as separation costs. In December 2019, we entered into a retirement agreement with TA and a former executive officer of RMR LLC, Andrew J. Rebholz. Mr. Rebholz was also a managing director and chief executive officer of TA. Pursuant to his retirement agreement, Mr. Rebholz will continue to serve as an employee of RMR LLC through June 30, 2020. Under Mr. Rebholz’s retirement agreement, RMR LLC is continuing to pay Mr. Rebholz an annual base salary of $75 until June 30, 2020 and RMR LLC paid him a cash bonus in respect of 2019 of $250 in December 2019. RMR LLC also agreed to pay Mr. Rebholz an additional cash payment of $250 in 2020, subject to certain conditions. In addition, in January 2020, we accelerated the vesting of all 7,300 unvested shares of RMR Inc. owned by Mr. Rebholz as of his retirement date, June 30, 2020. We recorded approximately $281 of equity based separation costs related to the acceleration of these shares for the three months ended March 31, 2020. For the three and six months ended March 31, 2020 and 2019 , we recognized cash and equity based separation costs as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Former executive officers: Cash separation costs $ — $ — $ 260 $ 5,312 Equity based separation costs 281 414 281 1,488 281 414 541 6,800 Former nonexecutive officers: Cash separation costs 80 — 80 11 Equity based separation costs 24 — 24 — 104 — 104 11 Total separation costs $ 385 $ 414 $ 645 $ 6,811

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Shareholders’ Equity	Shareholders’ Equity Issuances and Repurchases We grant our Class A Common Shares to our Directors, officers and employees under the 2016 Omnibus Equity Plan adopted in 2016, or the 2016 Plan. Shares issued to Directors vest immediately. Shares issued to employees vest in five equal, consecutive, annual installments, with the first installment vesting on the date of grant. We recognize share forfeitures as they occur. Compensation expense related to share grants is determined based on the market value of our shares on the date of grant, with the aggregate value of the granted shares amortized to expense over the related vesting period. Expense recognized for shares granted to Directors are included in general and administrative expenses and for shares granted to employees are included in equity based compensation in our condensed consolidated statements of income. On March 11, 2020, we granted 3,000 of our Class A Common Shares, valued at $31.28 per share, the closing price of our Class A Common Shares on The Nasdaq Stock Market LLC, or Nasdaq, on that day, to each of our Managing Directors and Independent Directors as part of his or her annual compensation for serving as a Director. For the three months ended March 31, 2020, we recorded general and administrative expense of $469 for these grants. Equity based compensation expense related to shares granted to certain officers and employees was $592 and $448 for the three months ended March 31, 2020 and 2019, respectively, and $1,226 and $943 for the six months ended March 31, 2020 and 2019, respectively. As of March 31, 2020 , we had 116,510 unvested shares outstanding which are scheduled to vest as follows: 42,310 shares in 2020 , 34,040 shares in 2021 , 25,080 shares in 2022 and 15,080 in 2023 . In connection with the vesting and issuance of awards of our Class A Common Shares to our Directors, officers and employees, we provide for the ability to repurchase our Class A Common Shares to satisfy tax withholding and payment obligations. The repurchase price is based on the closing price of our Class A Common Shares on the Nasdaq on the repurchase date. During the six months ended March 31, 2020 , we withheld and repurchased 2,421 of our Class A Common Shares for an aggregate value of $95 , which is reflected as a decrease to shareholders’ equity in our condensed consolidated balance sheets. In connection with the issuances and repurchases of our Class A Common Shares, and as required by the RMR LLC operating agreement, RMR LLC concurrently issues or acquires an identical number of Class A Units from RMR Inc. Distributions During the six months ended March 31, 2020 and 2019 , we declared and paid dividends on our Class A Common Shares and Class B-1 Common Shares as follows: Declaration Record Paid Distributions Total Date Date Date Per Common Share Distributions Six Months Ended March 31, 2020 10/17/2019 10/28/2019 11/14/2019 $ 0.38 $ 6,195 1/16/2020 1/27/2020 2/20/2020 0.38 6,194 $ 0.76 $ 12,389 Six Months Ended March 31, 2019 10/18/2018 10/29/2018 11/15/2018 $ 0.35 $ 5,680 1/18/2019 1/28/2019 2/21/2019 0.35 5,680 $ 0.70 $ 11,360 These dividends were funded in part by distributions from RMR LLC to holders of its membership units as follows: Distributions Per Total RMR LLC RMR LLC Declaration Record Paid RMR LLC RMR LLC Distributions Distributions Date Date Date Membership Unit Distributions to RMR Inc. to ABP Trust Six Months Ended March 31, 2020 10/17/2019 10/28/2019 11/14/2019 $ 0.30 $ 9,391 $ 4,891 $ 4,500 1/16/2020 1/27/2020 2/20/2020 0.30 9,390 4,890 4,500 $ 0.60 $ 18,781 $ 9,781 $ 9,000 Six Months Ended March 31, 2019 10/18/2018 10/29/2018 11/15/2018 $ 0.30 $ 9,369 $ 4,869 $ 4,500 1/18/2019 1/28/2019 2/21/2019 0.30 9,369 4,869 4,500 $ 0.60 $ 18,738 $ 9,738 $ 9,000 The remainder of the above noted dividends that were paid were funded with cash accumulated at RMR Inc. On April 16, 2020 , we declared a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares to our shareholders of record as of April 27, 2020 , in the amount of $0.38 per Class A Common Share and Class B-1 Common Share, or $6,200 . This dividend will be partially funded by a distribution from RMR LLC to holders of its membership units in the amount of $0.30 per unit, or $9,394 , of which $4,894 will be distributed to us based on our aggregate ownership of 16,314,479 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 or about May 21, 2020 .

Per Common Share Amounts

Per Common Share Amounts	6 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Per Common Share Amounts	Per Common Share Amounts Basic earnings per common share reflects net income attributable to RMR Inc. divided by our weighted average Class A Common Shares and our Class B-1 Common Shares outstanding 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 basic earnings per common share. Diluted earnings per common share reflects net income divided by our weighted average Class A Common Shares and our Class B-1 Common Shares plus the effect of dilutive common share equivalents during the applicable periods. Diluted common share equivalents reflect the assumed issuance of Class A Common Shares pursuant to our 2016 Plan and the assumed issuance of Class A Common Shares related to the assumed redemption of the 15,000,000 Class A Units using the if-converted method. Unvested Class A Common Shares granted to our employees are deemed participating securities for purposes of calculating earnings per common share because 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 income. 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, the Class B-2 Common Share “paired” with such unit is canceled for no additional consideration. 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 offset by any tax effect, which may be dilutive. For the three and six months ended March 31, 2019, such redemption is not reflected in diluted earnings per share as the assumed redemption would be anti-dilutive. The calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Numerators: Net income attributable to The RMR Group Inc. $ 6,468 $ 8,168 $ 15,917 $ 60,377 Income attributable to unvested participating securities (47 ) (55 ) (119 ) (409 ) Net income attributable to The RMR Group Inc. used in calculating basic EPS 6,421 8,113 15,798 59,968 Effect of dilutive securities: Add back: net income attributable to noncontrolling interest 8,453 — 20,628 — Add back: income tax expense 2,612 — 6,336 — Income tax expense at enacted tax rates assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares (5,317 ) — (12,858 ) — Net income attributable to The RMR Group Inc. used in calculating diluted EPS $ 12,169 $ 8,113 $ 29,904 $ 59,968 Denominators: Weighted average common shares outstanding - basic 16,186 16,120 16,181 16,120 Effect of dilutive securities: Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares 15,000 — 15,000 — Incremental unvested shares — 27 — 20 Weighted average common shares outstanding - diluted 31,186 16,147 31,181 16,140 Net income attributable to The RMR Group Inc. per common share - basic $ 0.40 $ 0.50 $ 0.98 $ 3.72 Net income attributable to The RMR Group Inc. per common share - diluted $ 0.39 $ 0.50 $ 0.96 $ 3.72

Leases

Leases	6 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases We enter into operating leases, as the lessee, for office space and determine if an arrangement is a lease at inception of the arrangement. Operating lease liabilities and right of use assets are recognized based on the present value of the future minimum lease payments over the lease term using our estimated incremental borrowing rate. Operating lease expense associated with minimum lease payments is recognized on a straight line basis over the lease term and was $1,623 and $3,226 for the three and six months ended March 31, 2020 , respectively. Minimum lease payments for leases with an initial term of twelve months or less are not recorded on our condensed consolidated balance sheet. Lease expense for leases with an initial term of twelve months or less was $18 and $33 for the three and six months ended March 31, 2020 , respectively. As of March 31, 2020 , our operating leases expire on various dates through 2030 , the weighted average remaining lease term was 9.2 years and the determination of the present value of the remaining lease payments utilized a weighted average discount rate of 3.1% . The following table presents the undiscounted cash flows on an annual basis for our operating lease liabilities as of March 31, 2020 : 2020 $ 2,715 2021 5,480 2022 5,555 2023 4,926 2024 4,428 Thereafter 21,400 Total lease payments 44,504 Less: imputed interest (5,934 ) Present value of operating lease liabilities 38,570 Less: current portion of operating lease liabilities (4,302 ) Operating lease liabilities, net of current portion $ 34,268

Segment Reporting

Segment Reporting	6 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We have one 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 March 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 43,219 $ 102 $ 43,321 Advisory services — 780 780 Total management and advisory services revenues 43,219 882 44,101 Reimbursable compensation and benefits 12,503 30 12,533 Other client company reimbursable expenses 84,227 — 84,227 Total reimbursable costs 96,730 30 96,760 Total revenues 139,949 912 140,861 Expenses: Compensation and benefits 28,923 1,199 30,122 Equity based compensation 257 45 302 Separation costs 385 — 385 Total compensation and benefits expense 29,565 1,244 30,809 General and administrative 6,314 983 7,297 Other client company reimbursable expenses 84,227 — 84,227 Transaction and acquisition related costs — 373 373 Depreciation and amortization 235 11 246 Total expenses 120,341 2,611 122,952 Operating income (loss) 19,608 (1,699 ) 17,909 Interest and other income 1,366 134 1,500 Equity in earnings of investees — 324 324 Unrealized loss on equity method investment accounted for under the fair value option (2,200 ) — (2,200 ) Income (loss) before income tax expense 18,774 (1,241 ) 17,533 Income tax expense — (2,612 ) (2,612 ) Net income (loss) $ 18,774 $ (3,853 ) $ 14,921 Total assets $ 636,994 $ 48,930 $ 685,924 (1) Intersegment revenues of $1,090 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 89,814 $ 782 $ 90,596 Advisory services — 1,627 1,627 Total management and advisory services revenues 89,814 2,409 92,223 Reimbursable compensation and benefits 25,205 1,123 26,328 Other client company reimbursable expenses 182,202 — 182,202 Total reimbursable costs 207,407 1,123 208,530 Total revenues 297,221 3,532 300,753 Expenses: Compensation and benefits 56,198 4,121 60,319 Equity based compensation 1,824 60 1,884 Separation costs 645 — 645 Total compensation and benefits expense 58,667 4,181 62,848 General and administrative 12,439 1,904 14,343 Other client company reimbursable expenses 182,202 — 182,202 Transaction and acquisition related costs 49 1,120 1,169 Depreciation and amortization 479 23 502 Total expenses 253,836 7,228 261,064 Operating income (loss) 43,385 (3,696 ) 39,689 Interest and other income 3,086 289 3,375 Equity in earnings of investees — 579 579 Unrealized loss on equity method investment accounted for under the fair value option (762 ) — (762 ) Income (loss) before income tax expense 45,709 (2,828 ) 42,881 Income tax expense — (6,336 ) (6,336 ) Net income (loss) $ 45,709 $ (9,164 ) $ 36,545 Total assets $ 636,994 $ 48,930 $ 685,924 (1) Intersegment revenues of $3,165 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Three Months Ended March 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 42,495 $ 105 $ 42,600 Advisory services — 761 761 Total management and advisory services revenues 42,495 866 43,361 Reimbursable compensation and benefits 12,813 599 13,412 Other client company reimbursable expenses 73,323 — 73,323 Total reimbursable costs 86,136 599 86,735 Total revenues 128,631 1,465 130,096 Expenses: Compensation and benefits 27,511 1,470 28,981 Equity based compensation 1,177 27 1,204 Separation costs 414 — 414 Total compensation and benefits expense 29,102 1,497 30,599 General and administrative 6,167 955 7,122 Other client company reimbursable expenses 73,323 — 73,323 Transaction and acquisition related costs 47 — 47 Depreciation and amortization 244 13 257 Total expenses 108,883 2,465 111,348 Operating income (loss) 19,748 (1,000 ) 18,748 Interest and other income 2,091 377 2,468 Equity in earnings of investees — 109 109 Unrealized gain on equity method investment accounted for under the fair value option 522 — 522 Income (loss) before income tax expense 22,361 (514 ) 21,847 Income tax expense — (3,139 ) (3,139 ) Net income (loss) $ 22,361 $ (3,653 ) $ 18,708 Total assets $ 599,581 $ 57,281 $ 656,862 (1) Intersegment revenues of $939 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 89,931 $ 157 $ 90,088 Incentive business management fees 120,094 — 120,094 Advisory services — 1,543 1,543 Total management and advisory services revenues 210,025 1,700 211,725 Reimbursable compensation and benefits 26,121 1,164 27,285 Other client company reimbursable expenses 171,399 — 171,399 Total reimbursable costs 197,520 1,164 198,684 Total revenues 407,545 2,864 410,409 Expenses: Compensation and benefits 53,936 3,057 56,993 Equity based compensation 2,960 55 3,015 Separation costs 6,811 — 6,811 Total compensation and benefits expense 63,707 3,112 66,819 General and administrative 12,552 1,890 14,442 Other client company reimbursable expenses 171,399 — 171,399 Transaction and acquisition related costs 231 — 231 Depreciation and amortization 486 26 512 Total expenses 248,375 5,028 253,403 Operating income (loss) 159,170 (2,164 ) 157,006 Interest and other income 3,465 529 3,994 Equity in earnings of investees — 144 144 Unrealized loss on equity method investment accounted for under the fair value option (2,247 ) — (2,247 ) Income (loss) before income tax expense 160,388 (1,491 ) 158,897 Income tax expense — (22,109 ) (22,109 ) Net income (loss) $ 160,388 $ (23,600 ) $ 136,788 Total assets $ 599,581 $ 57,281 $ 656,862 (1) Intersegment revenues of $1,787

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-02, Leases , as amended, or ASU No. 2016-02, 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 determines 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 twelve months regardless of their classification. On October 1, 2019, we adopted ASU No. 2016-02 along with certain allowable practical expedients using the modified retrospective transition approach. We elected to apply the guidance to each lease that had commenced as of the adoption date. We also elected a package of practical expedients that allowed us not to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) the recognition requirements for initial direct costs for any expired or existing leases. Additionally, we elected to account for the lease and non-lease components as a single lease component. The adoption of ASU No. 2016-02 did not affect our condensed consolidated statements of income and cash flows. See Note 10, Leases , for further information regarding the adoption of ASU No. 2016-02. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments , or ASU No. 2016-13, 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. The effective date for us is the first day of fiscal year 2021 (October 1, 2020). 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.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of reconciliation of the statutory income tax rate to the effective tax rate	A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Income taxes computed at the federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 3.9 % 3.7 % 3.7 % 2.9 % Permanent items 0.1 % (0.2 )% 0.2 % 0.1 % Net income attributable to noncontrolling interest (10.1 )% (10.1 )% (10.1 )% (10.1 )% Total 14.9 % 14.4 % 14.8 % 13.9 %

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value	The following are our assets and liabilities that all have been measured at fair value using Level 1 inputs in the fair value hierarchy as of March 31, 2020 and September 30, 2019 : March 31, September 30, 2020 2019 Money market funds included in cash and cash equivalents $ 298,240 $ 357,526 Current portion of due from related parties related to share based payment awards 1,665 4,814 Long term portion of due from related parties related to share based payment awards 4,978 9,238 Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses 1,665 4,814 Long term portion of employer compensation liability related to share based payment awards 4,978 9,238

Related Person Transactions (Ta

Related Person Transactions (Tables)	6 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Schedule of related party transactions	For the three and six months ended March 31, 2020 and 2019 , we recognized revenues from related parties as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 $ % $ % $ % $ % Managed Equity REITs: DHC (1) $ 41,047 29.1 % $ 36,851 28.3 % $ 84,604 28.1 % $ 122,830 29.9 % ILPT 10,274 7.3 6,874 5.3 26,615 8.8 15,334 3.7 OPI (2) 56,569 40.2 58,114 44.7 121,452 40.4 114,357 27.9 SIR (1) (2) — — — — — — 47,843 11.7 SVC (1) 17,061 12.1 11,449 8.8 36,185 12.0 77,844 19.0 124,951 88.7 113,288 87.1 268,856 89.3 378,208 92.2 Managed Operators: Five Star 2,450 1.7 2,439 1.9 4,726 1.6 4,852 1.2 Sonesta 643 0.5 782 0.6 1,268 0.4 1,539 0.4 TA 3,446 2.4 3,228 2.5 6,891 2.3 7,081 1.7 6,539 4.6 6,449 5.0 12,885 4.3 13,472 3.3 Other Client Companies: ABP Trust 2,854 2.1 3,935 3.0 6,171 2.2 7,270 1.8 AIC 5 — 60 — 96 — 120 — Open End Fund 4,919 3.5 4,633 3.6 8,915 3.0 8,110 2.0 RIF 743 0.5 725 0.5 1,554 0.5 1,458 0.3 TRMT 658 0.5 879 0.7 1,355 0.5 1,574 0.4 Centre Street 90 0.1 — — 90 — — — 9,269 6.7 10,232 7.8 18,181 6.2 18,532 4.5 Total revenues from related parties 140,759 100.0 129,969 99.9 299,922 99.8 410,212 100.0 Revenues from unrelated parties 102 — 127 0.1 831 0.2 197 — $ 140,861 100.0 % $ 130,096 100.0 % $ 300,753 100.0 % $ 410,409 100.0 % (1) The amounts for the six months ended March 31, 2019 include incentive business management fees of $40,642 , $25,817 and $53,635 , which RMR LLC earned for the 2018 calendar year from DHC, SIR and SVC, respectively, and which were paid in January 2019. (2) OPI acquired SIR by merger on December 31, 2018. This table presents revenues for the six months ended March 31, 2019 from SIR separately as they relate to a period prior to this merger. For the three and six months ended March 31, 2020 and 2019 , we recognized cash and equity based separation costs as set forth in the following table: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Former executive officers: Cash separation costs $ — $ — $ 260 $ 5,312 Equity based separation costs 281 414 281 1,488 281 414 541 6,800 Former nonexecutive officers: Cash separation costs 80 — 80 11 Equity based separation costs 24 — 24 — 104 — 104 11 Total separation costs $ 385 $ 414 $ 645 $ 6,811 The following table represents amounts due from related parties as of the dates indicated: March 31, September 30, 2020 2019 Managed Equity REITs: DHC $ 19,428 $ 25,505 ILPT 6,508 10,630 OPI 33,900 39,233 SVC 13,070 18,933 72,906 94,301 Managed Operators: Five Star 203 136 Sonesta — 37 TA 348 392 551 565 Other Client Companies: ABP Trust 1,714 2,580 AIC 7 7 Open End Fund 2,807 4,567 RIF 79 75 TRMT 1,019 664 Centre Street 45 — 5,671 7,893 $ 79,128 $ 102,759

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	6 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Dividends Declared	During the six months ended March 31, 2020 and 2019 , we declared and paid dividends on our Class A Common Shares and Class B-1 Common Shares as follows: Declaration Record Paid Distributions Total Date Date Date Per Common Share Distributions Six Months Ended March 31, 2020 10/17/2019 10/28/2019 11/14/2019 $ 0.38 $ 6,195 1/16/2020 1/27/2020 2/20/2020 0.38 6,194 $ 0.76 $ 12,389 Six Months Ended March 31, 2019 10/18/2018 10/29/2018 11/15/2018 $ 0.35 $ 5,680 1/18/2019 1/28/2019 2/21/2019 0.35 5,680 $ 0.70 $ 11,360 These dividends were funded in part by distributions from RMR LLC to holders of its membership units as follows: Distributions Per Total RMR LLC RMR LLC Declaration Record Paid RMR LLC RMR LLC Distributions Distributions Date Date Date Membership Unit Distributions to RMR Inc. to ABP Trust Six Months Ended March 31, 2020 10/17/2019 10/28/2019 11/14/2019 $ 0.30 $ 9,391 $ 4,891 $ 4,500 1/16/2020 1/27/2020 2/20/2020 0.30 9,390 4,890 4,500 $ 0.60 $ 18,781 $ 9,781 $ 9,000 Six Months Ended March 31, 2019 10/18/2018 10/29/2018 11/15/2018 $ 0.30 $ 9,369 $ 4,869 $ 4,500 1/18/2019 1/28/2019 2/21/2019 0.30 9,369 4,869 4,500 $ 0.60 $ 18,738 $ 9,738 $ 9,000

Per Common Share Amounts (Table

Per Common Share Amounts (Tables)	6 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, Six Months Ended March 31, 2020 2019 2020 2019 Numerators: Net income attributable to The RMR Group Inc. $ 6,468 $ 8,168 $ 15,917 $ 60,377 Income attributable to unvested participating securities (47 ) (55 ) (119 ) (409 ) Net income attributable to The RMR Group Inc. used in calculating basic EPS 6,421 8,113 15,798 59,968 Effect of dilutive securities: Add back: net income attributable to noncontrolling interest 8,453 — 20,628 — Add back: income tax expense 2,612 — 6,336 — Income tax expense at enacted tax rates assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares (5,317 ) — (12,858 ) — Net income attributable to The RMR Group Inc. used in calculating diluted EPS $ 12,169 $ 8,113 $ 29,904 $ 59,968 Denominators: Weighted average common shares outstanding - basic 16,186 16,120 16,181 16,120 Effect of dilutive securities: Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares 15,000 — 15,000 — Incremental unvested shares — 27 — 20 Weighted average common shares outstanding - diluted 31,186 16,147 31,181 16,140 Net income attributable to The RMR Group Inc. per common share - basic $ 0.40 $ 0.50 $ 0.98 $ 3.72 Net income attributable to The RMR Group Inc. per common share - diluted $ 0.39 $ 0.50 $ 0.96 $ 3.72

Leases (Tables)

Leases (Tables)	6 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of undiscounted cash flows of operating lease liability and reconciliation of operating lease liabilities	The following table presents the undiscounted cash flows on an annual basis for our operating lease liabilities as of March 31, 2020 : 2020 $ 2,715 2021 5,480 2022 5,555 2023 4,926 2024 4,428 Thereafter 21,400 Total lease payments 44,504 Less: imputed interest (5,934 ) Present value of operating lease liabilities 38,570 Less: current portion of operating lease liabilities (4,302 ) Operating lease liabilities, net of current portion $ 34,268

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of segment reporting information	Three Months Ended March 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 43,219 $ 102 $ 43,321 Advisory services — 780 780 Total management and advisory services revenues 43,219 882 44,101 Reimbursable compensation and benefits 12,503 30 12,533 Other client company reimbursable expenses 84,227 — 84,227 Total reimbursable costs 96,730 30 96,760 Total revenues 139,949 912 140,861 Expenses: Compensation and benefits 28,923 1,199 30,122 Equity based compensation 257 45 302 Separation costs 385 — 385 Total compensation and benefits expense 29,565 1,244 30,809 General and administrative 6,314 983 7,297 Other client company reimbursable expenses 84,227 — 84,227 Transaction and acquisition related costs — 373 373 Depreciation and amortization 235 11 246 Total expenses 120,341 2,611 122,952 Operating income (loss) 19,608 (1,699 ) 17,909 Interest and other income 1,366 134 1,500 Equity in earnings of investees — 324 324 Unrealized loss on equity method investment accounted for under the fair value option (2,200 ) — (2,200 ) Income (loss) before income tax expense 18,774 (1,241 ) 17,533 Income tax expense — (2,612 ) (2,612 ) Net income (loss) $ 18,774 $ (3,853 ) $ 14,921 Total assets $ 636,994 $ 48,930 $ 685,924 (1) Intersegment revenues of $1,090 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 89,814 $ 782 $ 90,596 Advisory services — 1,627 1,627 Total management and advisory services revenues 89,814 2,409 92,223 Reimbursable compensation and benefits 25,205 1,123 26,328 Other client company reimbursable expenses 182,202 — 182,202 Total reimbursable costs 207,407 1,123 208,530 Total revenues 297,221 3,532 300,753 Expenses: Compensation and benefits 56,198 4,121 60,319 Equity based compensation 1,824 60 1,884 Separation costs 645 — 645 Total compensation and benefits expense 58,667 4,181 62,848 General and administrative 12,439 1,904 14,343 Other client company reimbursable expenses 182,202 — 182,202 Transaction and acquisition related costs 49 1,120 1,169 Depreciation and amortization 479 23 502 Total expenses 253,836 7,228 261,064 Operating income (loss) 43,385 (3,696 ) 39,689 Interest and other income 3,086 289 3,375 Equity in earnings of investees — 579 579 Unrealized loss on equity method investment accounted for under the fair value option (762 ) — (762 ) Income (loss) before income tax expense 45,709 (2,828 ) 42,881 Income tax expense — (6,336 ) (6,336 ) Net income (loss) $ 45,709 $ (9,164 ) $ 36,545 Total assets $ 636,994 $ 48,930 $ 685,924 (1) Intersegment revenues of $3,165 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Three Months Ended March 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 42,495 $ 105 $ 42,600 Advisory services — 761 761 Total management and advisory services revenues 42,495 866 43,361 Reimbursable compensation and benefits 12,813 599 13,412 Other client company reimbursable expenses 73,323 — 73,323 Total reimbursable costs 86,136 599 86,735 Total revenues 128,631 1,465 130,096 Expenses: Compensation and benefits 27,511 1,470 28,981 Equity based compensation 1,177 27 1,204 Separation costs 414 — 414 Total compensation and benefits expense 29,102 1,497 30,599 General and administrative 6,167 955 7,122 Other client company reimbursable expenses 73,323 — 73,323 Transaction and acquisition related costs 47 — 47 Depreciation and amortization 244 13 257 Total expenses 108,883 2,465 111,348 Operating income (loss) 19,748 (1,000 ) 18,748 Interest and other income 2,091 377 2,468 Equity in earnings of investees — 109 109 Unrealized gain on equity method investment accounted for under the fair value option 522 — 522 Income (loss) before income tax expense 22,361 (514 ) 21,847 Income tax expense — (3,139 ) (3,139 ) Net income (loss) $ 22,361 $ (3,653 ) $ 18,708 Total assets $ 599,581 $ 57,281 $ 656,862 (1) Intersegment revenues of $939 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements. Six Months Ended March 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 89,931 $ 157 $ 90,088 Incentive business management fees 120,094 — 120,094 Advisory services — 1,543 1,543 Total management and advisory services revenues 210,025 1,700 211,725 Reimbursable compensation and benefits 26,121 1,164 27,285 Other client company reimbursable expenses 171,399 — 171,399 Total reimbursable costs 197,520 1,164 198,684 Total revenues 407,545 2,864 410,409 Expenses: Compensation and benefits 53,936 3,057 56,993 Equity based compensation 2,960 55 3,015 Separation costs 6,811 — 6,811 Total compensation and benefits expense 63,707 3,112 66,819 General and administrative 12,552 1,890 14,442 Other client company reimbursable expenses 171,399 — 171,399 Transaction and acquisition related costs 231 — 231 Depreciation and amortization 486 26 512 Total expenses 248,375 5,028 253,403 Operating income (loss) 159,170 (2,164 ) 157,006 Interest and other income 3,465 529 3,994 Equity in earnings of investees — 144 144 Unrealized loss on equity method investment accounted for under the fair value option (2,247 ) — (2,247 ) Income (loss) before income tax expense 160,388 (1,491 ) 158,897 Income tax expense — (22,109 ) (22,109 ) Net income (loss) $ 160,388 $ (23,600 ) $ 136,788 Total assets $ 599,581 $ 57,281 $ 656,862 (1) Intersegment revenues of $1,787

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Mar. 31, 2020shares
RMR LLC
Related Party Transaction [Line Items]
Ownership percentage	52.10%
Class B membership units
Related Party Transaction [Line Items]
Membership units (in units)	1,000,000
Class A Common Stock | Class A membership units
Related Party Transaction [Line Items]
Membership units (in units)	15,314,479
Capital Unit Redeemable Class A Units | ABP Trust
Related Party Transaction [Line Items]
Membership units (in units)	15,000,000
Capital Unit Redeemable Class A Units | ABP Trust | RMR LLC
Related Party Transaction [Line Items]
Ownership percentage	47.90%

Revenue Recognition - Managed E

Revenue Recognition - Managed Equity REITs (Details) - Managed REITs - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Business Management and Incentive Fees
Business management fees as a percentage of transferred real estate assets			0.50%
Business management fees as a percentage of average invested capital below the threshold limit			0.70%
Maximum threshold amount for calculating the business management fees	$ 250,000,000		$ 250,000,000
Business management fees as a percentage of average invested capital above the threshold limit			0.50%
Minimum threshold amount for calculating the business management fees	250,000,000		$ 250,000,000
Business management fees as a percent of average market capitalization below the threshold limit			0.70%
Business management fees as a percent of average market capitalization above the threshold limit			0.50%
Aggregate base business management fees	$ 24,527,000	$ 25,536,000	$ 51,918,000	$ 53,807,000
Contingent incentive business management fee percentage			12.00%
Aggregate incentive business management fees			$ 0	$ 120,094,000

Revenue Recognition - Business

Revenue Recognition - Business Management Fees (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended		9 Months Ended
	Jan. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Managed Operators, ABP Trust and AIC
Related Party Transaction [Line Items]
Business management fee percent based on management agreements	0.50%		0.60%
Aggregate business management fees		$ 6,984		$ 6,752	$ 13,663	$ 14,147
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		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
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	$ 11,708	$ 10,207	$ 24,233	$ 21,977

Revenue Recognition - Advisory

Revenue Recognition - Advisory Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Revenue	$ 140,861	$ 130,096	$ 300,753	$ 410,409
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	780	761	$ 1,627	$ 1,543
Management services
Related Party Transaction [Line Items]
Revenue	43,321	42,600	$ 90,596	90,088
RIF
Related Party Transaction [Line Items]
Advisory fee percent			0.85%
RMR Advisors and Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Revenue	743	725	$ 1,554	1,458
Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Revenue	37	36	73	85
Tremont Advisors | Management services
Related Party Transaction [Line Items]
Revenue	$ 102	$ 105	$ 782	$ 157

Revenue Recognition - Reimbursa

Revenue Recognition - Reimbursable Payroll Related and Other Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 140,861	$ 130,096	$ 300,753	$ 410,409
Shared service fees	368	370	714	706
Equity based compensation expense and related reimbursements	(290)	756	658	2,072
Reimbursable compensation and benefits
Disaggregation of Revenue [Line Items]
Revenue	12,533	13,412	26,328	27,285
Other client company reimbursable expenses
Disaggregation of Revenue [Line Items]
Revenue	$ 84,227	$ 73,323	$ 182,202	$ 171,399

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Oct. 10, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Equity in earnings of investees		$ 324	$ 109	$ 579	$ 144
Equity method investment accounted for under the fair value option		2,920		2,920		$ 3,682
Unrealized (loss) gain on equity method investment accounted for under the fair value option		$ (2,200)	$ 522	$ (762)	$ (2,247)
Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Ownership percentage		19.50%		19.50%
Equity in earnings of investees				$ 579
TA
Schedule of Equity Method Investments [Line Items]
Ownership percentage		4.00%		4.00%
Tremont Advisors | Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Number of shares owned (in shares)		1,600,100		1,600,100
Ownership percentage		19.40%		19.40%
RMR LLC | TA
Schedule of Equity Method Investments [Line Items]
Ownership percentage		3.60%		3.60%
Shares post reverse stock split (in shares)				298,538
Purchases from related party	$ 8,382

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 2,612	$ 3,139	$ 6,336	$ 22,109
Federal income tax expense	1,901	2,290	4,678	16,132
State income tax expense	$ 711	$ 849	$ 1,658	$ 5,977

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income taxes computed at the federal statutory rate	21.00%	21.00%	21.00%	21.00%
State taxes, net of federal benefit	3.90%	3.70%	3.70%	2.90%
Permanent items	0.10%	(0.20%)	0.20%	0.10%
Net income attributable to noncontrolling interest	(10.10%)	(10.10%)	(10.10%)	(10.10%)
Total	14.90%	14.40%	14.80%	13.90%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Recurring basis - Level 1 - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019
Schedule of assets and liabilities measured at fair value
Money market funds included in cash and cash equivalents	$ 298,240	$ 357,526
Current portion of due from related parties related to share based payment awards	1,665	4,814
Long term portion of due from related parties related to share based payment awards	4,978	9,238
Current portion of employer compensation liability related to share based payment awards included in accounts payable and accrued expenses	1,665	4,814
Long term portion of employer compensation liability related to share based payment awards	$ 4,978	$ 9,238

Related Person Transactions - N

Related Person Transactions - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2020	Feb. 13, 2020
Five Star
Related Party Transaction [Line Items]
Ownership percentage	6.30%
SVC
Related Party Transaction [Line Items]
Ownership percentage	1.10%
ILPT
Related Party Transaction [Line Items]
Ownership percentage	1.20%
OPI
Related Party Transaction [Line Items]
Ownership percentage	1.50%
DHC
Related Party Transaction [Line Items]
Ownership percentage	1.10%
TA
Related Party Transaction [Line Items]
Ownership percentage	4.00%
RIF
Related Party Transaction [Line Items]
Ownership percentage	2.30%
TRMT
Related Party Transaction [Line Items]
Ownership percentage	19.50%
ABP Trust | Centre Street
Related Party Transaction [Line Items]
Ownership percentage	100.00%
ABP Trust | AIC
Related Party Transaction [Line Items]
Ownership percentage		14.30%
ABP Trust | Open End Fund
Related Party Transaction [Line Items]
Ownership percentage	100.00%
Shares owned (in shares)	206,300
ABP Trust | Class A Common Stock
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	147,502
ABP Trust | Class A Units
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	15,000,000
RMR LLC | TA
Related Party Transaction [Line Items]
Ownership percentage	3.60%
RMR LLC | Open End Fund
Related Party Transaction [Line Items]
Shares owned (in shares)	0
Open End Fund | RMR LLC
Related Party Transaction [Line Items]
Committed capital	$ 100,000

Related Person Transactions - R

Related Person Transactions - Revenues from Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 140,759	$ 129,969	$ 299,922	$ 410,212
Revenue from unrelated parties	102	127	831	197
Total revenues	$ 140,861	$ 130,096	$ 300,753	$ 410,409
Percentage of revenues from related parties	100.00%	99.90%	99.80%	100.00%
Percentage of revenues from unrelated parties	0.00%	0.10%	0.20%	0.00%
Percentage of revenue from related parties, net	100.00%	100.00%	100.00%	100.00%
Managed REITs
Related Party Transaction [Line Items]
Revenue from related parties	$ 124,951	$ 113,288	$ 268,856	$ 378,208
Percentage of revenues from related parties	88.70%	87.10%	89.30%	92.20%
DHC
Related Party Transaction [Line Items]
Revenue from related parties	$ 41,047	$ 36,851	$ 84,604	$ 122,830
Percentage of revenues from related parties	29.10%	28.30%	28.10%	29.90%
ILPT
Related Party Transaction [Line Items]
Revenue from related parties	$ 10,274	$ 6,874	$ 26,615	$ 15,334
Percentage of revenues from related parties	7.30%	5.30%	8.80%	3.70%
OPI
Related Party Transaction [Line Items]
Revenue from related parties	$ 56,569	$ 58,114	$ 121,452	$ 114,357
Percentage of revenues from related parties	40.20%	44.70%	40.40%	27.90%
SIR
Related Party Transaction [Line Items]
Revenue from related parties	$ 0	$ 0	$ 0	$ 47,843
Percentage of revenues from related parties	0.00%	0.00%	0.00%	11.70%
SVC
Related Party Transaction [Line Items]
Revenue from related parties	$ 17,061	$ 11,449	$ 36,185	$ 77,844
Percentage of revenues from related parties	12.10%	8.80%	12.00%	19.00%
Managed Operators
Related Party Transaction [Line Items]
Revenue from related parties	$ 6,539	$ 6,449	$ 12,885	$ 13,472
Percentage of revenues from related parties	4.60%	5.00%	4.30%	3.30%
Five Star
Related Party Transaction [Line Items]
Revenue from related parties	$ 2,450	$ 2,439	$ 4,726	$ 4,852
Percentage of revenues from related parties	1.70%	1.90%	1.60%	1.20%
Sonesta
Related Party Transaction [Line Items]
Revenue from related parties	$ 643	$ 782	$ 1,268	$ 1,539
Percentage of revenues from related parties	0.50%	0.60%	0.40%	0.40%
TA
Related Party Transaction [Line Items]
Revenue from related parties	$ 3,446	$ 3,228	$ 6,891	$ 7,081
Percentage of revenues from related parties	2.40%	2.50%	2.30%	1.70%
Other Client Companies
Related Party Transaction [Line Items]
Revenue from related parties	$ 9,269	$ 10,232	$ 18,181	$ 18,532
Percentage of revenues from related parties	6.70%	7.80%	6.20%	4.50%
ABP Trust
Related Party Transaction [Line Items]
Revenue from related parties	$ 2,854	$ 3,935	$ 6,171	$ 7,270
Percentage of revenues from related parties	2.10%	3.00%	2.20%	1.80%
AIC
Related Party Transaction [Line Items]
Revenue from related parties	$ 5	$ 60	$ 96	$ 120
Percentage of revenues from related parties	0.00%	0.00%	0.00%	0.00%
Open End Fund
Related Party Transaction [Line Items]
Revenue from related parties	$ 4,919	$ 4,633	$ 8,915	$ 8,110
Percentage of revenues from related parties	3.50%	3.60%	3.00%	2.00%
RIF
Related Party Transaction [Line Items]
Revenue from related parties	$ 743	$ 725	$ 1,554	$ 1,458
Percentage of revenues from related parties	0.50%	0.50%	0.50%	0.30%
TRMT
Related Party Transaction [Line Items]
Revenue from related parties	$ 658	$ 879	$ 1,355	$ 1,574
Percentage of revenues from related parties	0.50%	0.70%	0.50%	0.40%
Centre Street
Related Party Transaction [Line Items]
Revenue from related parties	$ 90	$ 0	$ 90	$ 0
Percentage of revenues from related parties	0.10%	0.00%	0.00%	0.00%

Related Person Transactions - F

Related Person Transactions - Footnotes to Revenue from Related Parties (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2019USD ($)
DHC
Related Party Transaction [Line Items]
Aggregate incentive business management fees	$ 40,642
SIR
Related Party Transaction [Line Items]
Aggregate incentive business management fees	25,817
SVC
Related Party Transaction [Line Items]
Aggregate incentive business management fees	$ 53,635

Related Person Transactions - A

Related Person Transactions - Amount Due from Related Parties (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Due from related parties	$ 79,128	$ 102,759
Managed REITs
Related Party Transaction [Line Items]
Due from related parties	72,906	94,301
DHC
Related Party Transaction [Line Items]
Due from related parties	19,428	25,505
ILPT
Related Party Transaction [Line Items]
Due from related parties	6,508	10,630
OPI
Related Party Transaction [Line Items]
Due from related parties	33,900	39,233
SVC
Related Party Transaction [Line Items]
Due from related parties	13,070	18,933
Managed Operators
Related Party Transaction [Line Items]
Due from related parties	551	565
Five Star
Related Party Transaction [Line Items]
Due from related parties	203	136
Sonesta
Related Party Transaction [Line Items]
Due from related parties	0	37
TA
Related Party Transaction [Line Items]
Due from related parties	348	392
Other Client Companies
Related Party Transaction [Line Items]
Due from related parties	5,671	7,893
ABP Trust
Related Party Transaction [Line Items]
Due from related parties	1,714	2,580
AIC
Related Party Transaction [Line Items]
Due from related parties	7	7
Open End Fund
Related Party Transaction [Line Items]
Due from related parties	2,807	4,567
RIF
Related Party Transaction [Line Items]
Due from related parties	79	75
TRMT
Related Party Transaction [Line Items]
Due from related parties	1,019	664
Centre Street
Related Party Transaction [Line Items]
Due from related parties	$ 45	$ 0

Related Person Transactions -_2

Related Person Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Lease expense, rental expense	$ 18		$ 33
ABP Trust and Managed REIT
Related Party Transaction [Line Items]
Lease expense, rental expense	$ 1,430	$ 1,571	$ 2,863	$ 2,858

Related Person Transactions - T

Related Person Transactions - Tax Related Payments (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 8,806	$ 21,256
ABP Trust | RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 7,986	19,653
ABP Trust | Up C Transaction
Related Party Transaction [Line Items]
Tax receivable agreement, percent of payment	85.00%
Liability related to Tax Receivable Agreement	$ 32,061
Current portion of liability related to Tax Receivable Agreement	2,111
ABP Trust and Managed REIT | RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 16,792	$ 40,909

Related Person Transactions - S

Related Person Transactions - Separation Arrangements (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020	Jun. 30, 2020
Related Party Transaction [Line Items]
Equity based separation costs			$ 302	$ 1,204	$ 1,884	$ 3,015
Separation costs			385	414	645	6,811
Former Executive Officer
Related Party Transaction [Line Items]
Cash separation costs			0	0	260	5,312
Equity based separation costs			281	414	281	1,488
Separation costs			281	414	541	6,800
Former Nonexecutive Officer
Related Party Transaction [Line Items]
Cash separation costs			80	0	80	11
Equity based separation costs			24	0	24	0
Separation costs			104	$ 0	$ 104	$ 11
Andrew J. Rebholz
Related Party Transaction [Line Items]
Number of accelerated vesting shares (in shares)	7,300
Andrew J. Rebholz | Former Executive Officer
Related Party Transaction [Line Items]
Equity based separation costs			$ 281
Andrew J. Rebholz | Forecast | Former Executive Officer
Related Party Transaction [Line Items]
Aggregate annual base salary								$ 75
Cash bonus | Andrew J. Rebholz | Former Executive Officer
Related Party Transaction [Line Items]
Related party transaction, amount		$ 250
Cash bonus | Andrew J. Rebholz | Forecast | Former Executive Officer
Related Party Transaction [Line Items]
Related party transaction, amount							$ 250

Shareholders_ Equity - Addition

Shareholders’ Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	Apr. 27, 2020USD ($)$ / sharesshares	Mar. 11, 2020$ / sharesshares	Mar. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Mar. 31, 2020USD ($)vesting_installment$ / sharesshares	Mar. 31, 2019USD ($)$ / shares	Sep. 30, 2019shares
Class of Stock [Line Items]
Number of Vesting Installments | vesting_installment							5
General and administrative			$ 7,297		$ 7,122		$ 14,343	$ 14,442
Equity based compensation expense			$ 592		$ 448		$ 1,226	$ 943
Unvested shares outstanding (in shares) | shares			116,510				116,510
RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares			$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.60	$ 0.60
Value of dividends			$ 9,390	$ 9,391	$ 9,369	$ 9,369	$ 18,781	$ 18,738
Subsequent Event | RMR LLC | RMR LLC
Class of Stock [Line Items]
Value of dividends	$ 9,394
Class A Common Stock
Class of Stock [Line Items]
Shares granted during period (in shares) | shares		3,000
Share price (in dollars per share) | $ / shares		$ 31.28
General and administrative			$ 469
Shares repurchased (in shares) | shares							2,421
Shares repurchased during period							$ 95
Common stock shares outstanding (in shares) | shares			15,314,479				15,314,479		15,302,710
Class A Common Stock | ABP Trust
Class of Stock [Line Items]
Value of dividends			$ 4,500	$ 4,500	$ 4,500	$ 4,500	$ 9,000	$ 9,000
Common stock shares outstanding (in shares) | shares			15,000,000				15,000,000
Class A Common Stock | ABP Trust | Subsequent Event
Class of Stock [Line Items]
Value of dividends	$ 4,500
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares			$ 0.38	$ 0.38	$ 0.35	$ 0.35	$ 0.76	$ 0.70
Value of dividends			$ 6,194	$ 6,195	$ 5,680	$ 5,680	$ 12,389	$ 11,360
Class A and B-1 common shares | RMR LLC
Class of Stock [Line Items]
Value of dividends			$ 4,890	$ 4,891	$ 4,869	$ 4,869	$ 9,781	$ 9,738
Class A and B-1 common shares | Subsequent Event
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares	$ 0.38
Value of dividends	$ 6,200
Common stock shares outstanding (in shares) | shares	16,314,479
Class A and B-1 common shares | Subsequent Event | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares	$ 0.30
Value of dividends	$ 4,894
Vesting 2020
Class of Stock [Line Items]
Shares vesting (in shares) | shares							42,310
Vesting 2021
Class of Stock [Line Items]
Shares vesting (in shares) | shares							34,040
Vesting 2022
Class of Stock [Line Items]
Shares vesting (in shares) | shares							25,080
Vesting 2023
Class of Stock [Line Items]
Shares vesting (in shares) | shares							15,080

Shareholders_ Equity - Distribu

Shareholders’ Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.38	$ 0.38	$ 0.35	$ 0.35	$ 0.76	$ 0.70
Value of dividends	$ 6,194	$ 6,195	$ 5,680	$ 5,680	$ 12,389	$ 11,360
ABP Trust | Class A Common Stock
Class of Stock [Line Items]
Value of dividends	4,500	4,500	4,500	4,500	9,000	9,000
RMR LLC | Class A and B-1 common shares
Class of Stock [Line Items]
Value of dividends	$ 4,890	$ 4,891	$ 4,869	$ 4,869	$ 9,781	$ 9,738
RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.60	$ 0.60
Value of dividends	$ 9,390	$ 9,391	$ 9,369	$ 9,369	$ 18,781	$ 18,738

Per Common Share Amounts - Addi

Per Common Share Amounts - Additional Information (Details)	6 Months Ended
	Mar. 31, 2020shares
Class A membership units
Class of Stock [Line Items]
Antidilutive securities (in shares)	15,000,000

Per Common Share Amounts - Sche

Per Common Share Amounts - Schedule of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income attributable to The RMR Group Inc.	$ 6,468	$ 8,168	$ 15,917	$ 60,377
Income attributable to unvested participating securities	(47)	(55)	(119)	(409)
Net income attributable to The RMR Group Inc. used in calculating basic EPS	6,421	8,113	15,798	59,968
Add back: net income attributable to noncontrolling interest	8,453	10,540	20,628	76,411
Add back: income tax expense	2,612	3,139	6,336	22,109
Income attributable to unvested participating securities	(5,317)		(12,858)
Net income attributable to The RMR Group Inc. used in calculating diluted EPS	$ 12,169	$ 8,113	$ 29,904	$ 59,968
Denominators:
Weighted average common shares outstanding - basic (in shares)	16,186	16,120	16,181	16,120
Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares (in shares)	15,000	0	15,000	0
Incremental unvested shares (in shares)	0	27	0	20
Weighted average common shares outstanding - diluted (in shares)	31,186	16,147	31,181	16,140
Net income attributable to RMR Inc. per common share - basic (in dollars per share)	$ 0.40	$ 0.50	$ 0.98	$ 3.72
Net income attributable to RMR Inc. per common share - diluted (in dollars per share)	$ 0.39	$ 0.50	$ 0.96	$ 3.72

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)
Leases [Abstract]
Operating lease expense associated with minimum lease payments	$ 1,623	$ 3,226
Lease expense for leases with an initial term of twelve months or less	$ 18	$ 33
Weighted average remaining lease term	9 years 2 months 12 days	9 years 2 months 12 days
Weighted average discount rate	3.10%	3.10%

Leases - Cash Flows of Operatin

Leases - Cash Flows of Operating Lease Liability and Reconciliation of Operating Lease Liabilities (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2020	$ 2,715
2021	5,480
2022	5,555
2023	4,926
2024	4,428
Thereafter	21,400
Total lease payments	44,504
Less: imputed interest	(5,934)
Present value of operating lease liabilities	38,570
Less: current portion of operating lease liabilities	(4,302)
Operating lease liabilities, net of current portion	$ 34,268

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Sep. 30, 2019USD ($)
Segment Reporting
Number of reportable business segments | segment					1
Revenues:
Revenue	$ 140,861		$ 130,096		$ 300,753	$ 410,409
Expenses:
Compensation and benefits	30,122		28,981		60,319	56,993
Equity based compensation	302		1,204		1,884	3,015
Separation costs	385		414		645	6,811
Total compensation and benefits expense	30,809		30,599		62,848	66,819
General and administrative	7,297		7,122		14,343	14,442
Other client company reimbursable expenses	84,227		73,323		182,202	171,399
Transaction and acquisition related costs	373		47		1,169	231
Depreciation and amortization	246		257		502	512
Total expenses	122,952		111,348		261,064	253,403
Operating income	17,909		18,748		39,689	157,006
Interest and other income	1,500		2,468		3,375	3,994
Equity in earnings of investees	324		109		579	144
Unrealized (loss) gain on equity method investment accounted for under the fair value option	(2,200)		522		(762)	(2,247)
Income (loss) before income tax expense	17,533		21,847		42,881	158,897
Income tax expense	(2,612)		(3,139)		(6,336)	(22,109)
Net income (loss)	14,921	$ 21,624	18,708	$ 118,080	36,545	136,788
Total assets	685,924		656,862		685,924	656,862	$ 660,832
Total management and advisory services revenues
Revenues:
Revenue	44,101		43,361		92,223	211,725
Management services
Revenues:
Revenue	43,321		42,600		90,596	90,088
Incentive business management fees
Revenues:
Revenue	0		0		0	120,094
Advisory services
Revenues:
Revenue	780		761		1,627	1,543
Total reimbursable costs
Revenues:
Revenue	96,760		86,735		208,530	198,684
Reimbursable compensation and benefits
Revenues:
Revenue	12,533		13,412		26,328	27,285
Other client company reimbursable expenses
Revenues:
Revenue	84,227		73,323		182,202	171,399
Operating Segments | RMR LLC
Revenues:
Revenue	139,949		128,631		297,221	407,545
Expenses:
Compensation and benefits	28,923		27,511		56,198	53,936
Equity based compensation	257		1,177		1,824	2,960
Separation costs	385		414		645	6,811
Total compensation and benefits expense	29,565		29,102		58,667	63,707
General and administrative	6,314		6,167		12,439	12,552
Other client company reimbursable expenses	84,227		73,323		182,202	171,399
Transaction and acquisition related costs	0		47		49	231
Depreciation and amortization	235		244		479	486
Total expenses	120,341		108,883		253,836	248,375
Operating income	19,608		19,748		43,385	159,170
Interest and other income	1,366		2,091		3,086	3,465
Equity in earnings of investees	0		0		0	0
Unrealized (loss) gain on equity method investment accounted for under the fair value option	(2,200)		522		(762)	(2,247)
Income (loss) before income tax expense	18,774		22,361		45,709	160,388
Income tax expense	0		0		0	0
Net income (loss)	18,774		22,361		45,709	160,388
Total assets	636,994		599,581		636,994	599,581
Operating Segments | RMR LLC | Total management and advisory services revenues
Revenues:
Revenue	43,219		42,495		89,814	210,025
Operating Segments | RMR LLC | Management services
Revenues:
Revenue	43,219		42,495		89,814	89,931
Operating Segments | RMR LLC | Incentive business management fees
Revenues:
Revenue						120,094
Operating Segments | RMR LLC | Advisory services
Revenues:
Revenue	0		0		0	0
Operating Segments | RMR LLC | Total reimbursable costs
Revenues:
Revenue	96,730		86,136		207,407	197,520
Operating Segments | RMR LLC | Reimbursable compensation and benefits
Revenues:
Revenue	12,503		12,813		25,205	26,121
Operating Segments | RMR LLC | Other client company reimbursable expenses
Revenues:
Revenue	84,227		73,323		182,202	171,399
All Other Operations
Revenues:
Revenue	912		1,465		3,532	2,864
Expenses:
Compensation and benefits	1,199		1,470		4,121	3,057
Equity based compensation	45		27		60	55
Separation costs	0		0		0	0
Total compensation and benefits expense	1,244		1,497		4,181	3,112
General and administrative	983		955		1,904	1,890
Other client company reimbursable expenses	0		0		0	0
Transaction and acquisition related costs	373		0		1,120	0
Depreciation and amortization	11		13		23	26
Total expenses	2,611		2,465		7,228	5,028
Operating income	(1,699)		(1,000)		(3,696)	(2,164)
Interest and other income	134		377		289	529
Equity in earnings of investees	324		109		579	144
Unrealized (loss) gain on equity method investment accounted for under the fair value option	0		0		0	0
Income (loss) before income tax expense	(1,241)		(514)		(2,828)	(1,491)
Income tax expense	(2,612)		(3,139)		(6,336)	(22,109)
Net income (loss)	(3,853)		(3,653)		(9,164)	(23,600)
Total assets	48,930		57,281		48,930	57,281
All Other Operations | Total management and advisory services revenues
Revenues:
Revenue	882		866		2,409	1,700
All Other Operations | Management services
Revenues:
Revenue	102		105		782	157
All Other Operations | Incentive business management fees
Revenues:
Revenue						0
All Other Operations | Advisory services
Revenues:
Revenue	780		761		1,627	1,543
All Other Operations | Total reimbursable costs
Revenues:
Revenue	30		599		1,123	1,164
All Other Operations | Reimbursable compensation and benefits
Revenues:
Revenue	30		599		1,123	1,164
All Other Operations | Other client company reimbursable expenses
Revenues:
Revenue	0		0		0	0
Intersegment Eliminations
Revenues:
Revenue	$ (1,090)		$ (939)		$ (3,165)	$ (1,787)