The RMR Group Inc. (RMR) 10-Q 2 Feb 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Dec. 31, 2020	Feb. 01, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 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	2021
Document Fiscal Period Focus	Q1
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		15,395,641
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	Dec. 31, 2020	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 383,213	$ 369,663
Due from related parties	68,445	82,605
Prepaid and other current assets	5,615	3,877
Total current assets	457,273	456,145
Property and equipment, net	2,345	2,299
Due from related parties, net of current portion	11,289	7,764
Equity method investment	7,874	7,467
Equity method investment accounted for under the fair value option	20,274	12,152
Goodwill	1,859	1,859
Intangible assets, net of amortization	266	277
Operating lease right of use assets	33,561	34,663
Deferred tax asset	22,279	23,900
Other assets, net of amortization	141,373	143,727
Total assets	698,393	690,253
Current liabilities:
Other client company reimbursable expenses	44,619	56,079
Accounts payable and accrued expenses	27,879	16,984
Operating lease liabilities	4,463	4,407
Employer compensation liability	3,350	4,298
Total current liabilities	80,311	81,768
Operating lease liabilities, net of current portion	30,887	32,030
Amounts due pursuant to tax receivable agreement, net of current portion	27,789	27,789
Employer compensation liability, net of current portion	11,289	7,764
Total liabilities	150,276	149,351
Commitments and contingencies
Equity:
Additional paid in capital	107,634	106,622
Retained earnings	295,146	286,249
Cumulative common distributions	(103,213)	(96,983)
Total shareholders’ equity	299,598	295,919
Noncontrolling interest	248,519	244,983
Total equity	548,117	540,902
Total liabilities and equity	698,393	690,253
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	Dec. 31, 2020	Sep. 30, 2020
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)	15,395,641	15,395,641
Common stock shares outstanding (in shares)	15,395,641	15,395,641
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
	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenues	$ 156,946	$ 159,892
Expenses:
Compensation and benefits	29,494	30,197
Equity based compensation	3,561	1,582
Separation costs	4,159	260
Total compensation and benefits expense	37,214	32,039
General and administrative	6,260	7,046
Other client company reimbursable expenses	99,385	97,975
Transaction and acquisition related costs	117	796
Depreciation and amortization	238	256
Total expenses	143,214	138,112
Operating income (loss)	13,732	21,780
Interest and other income	231	1,875
Equity in earnings of investees	424	255
Unrealized gain on equity method investment accounted for under the fair value option	8,122	1,438
Income before income tax expense	22,509	25,348
Income tax expense	(2,756)	(3,724)
Net income	19,753	21,624
Net income attributable to noncontrolling interest	(10,856)	(12,175)
Net income attributable to The RMR Group Inc.	$ 8,897	$ 9,449
Weighted average common shares outstanding - basic (in shares)	16,252	16,177
Weighted average common shares outstanding - diluted (in shares)	31,252	16,177
Net income attributable to The RMR Group Inc. per common share - basic (in dollars per share)	$ 0.54	$ 0.58
Net income attributable to The RMR Group Inc. per common share - diluted (in dollars per share)	$ 0.51	$ 0.58
Total management and advisory services revenues
Revenues:
Total revenues	$ 41,333	$ 48,122
Management services
Revenues:
Total revenues	40,747	47,275
Advisory services
Revenues:
Total revenues	586	847
Total reimbursable costs
Revenues:
Total revenues	115,613	111,770
Reimbursable compensation and benefits
Revenues:
Total revenues	13,225	12,847
Reimbursable client company equity based compensation
Revenues:
Total revenues	3,003	948
Other client company reimbursable expenses
Revenues:
Total revenues	$ 99,385	$ 97,975

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 Common Distributions	Total Shareholders' Equity	Noncontrolling Interest
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, 2020	540,902	15	1	15	106,622	286,249	(96,983)	295,919	244,983
Increase (Decrease) in Shareholders' Equity
Share grants, net	1,012				1,012			1,012
Net income	19,753					8,897		8,897	10,856
Tax distributions to Member	(2,820)								(2,820)
Common share distributions	(10,730)						(6,230)	(6,230)	(4,500)
Balance ending at Dec. 31, 2020	$ 548,117	$ 15	$ 1	$ 15	$ 107,634	$ 295,146	$ (103,213)	$ 299,598	$ 248,519

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Net income	$ 19,753	$ 21,624
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	238	256
Straight line office rent	15	35
Amortization expense related to other assets	2,354	2,354
Deferred income taxes	1,621	427
Operating expenses paid in The RMR Group Inc. common shares	1,012	634
Equity in earnings of investees	(424)	(255)
Distributions from equity method investment	17	352
Unrealized gain on equity method investment accounted for under the fair value option	(8,122)	(1,438)
Changes in assets and liabilities:
Due from related parties	13,212	16,007
Prepaid and other current assets	(1,738)	835
Other client company reimbursable expenses	(11,460)	(14,201)
Accounts payable and accrued expenses	11,182	15,290
Net cash from operating activities	27,660	41,920
Cash Flows from Investing Activities:
Purchase of property and equipment	(560)	(148)
Net cash used in investing activities	(560)	(148)
Cash Flows from Financing Activities:
Distributions to noncontrolling interest	(7,320)	(8,330)
Distributions to common shareholders	(6,230)	(6,195)
Net cash used in financing activities	(13,550)	(14,525)
Increase in cash and cash equivalents	13,550	27,247
Cash and cash equivalents at beginning of period	369,663	358,448
Cash and cash equivalents at end of period	383,213	385,695
Supplemental Cash Flow Information and Non-Cash Activities:
Income taxes paid	1,802	165
Supplemental Schedule of Non-Cash Activities:
Fair value of share based payments recorded	3,003	948
Recognition of right of use assets and related lease liabilities	$ 0	$ 39,746

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 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 December 31, 2020, RMR Inc. owned 15,395,641 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 52.2% of the economic interest of RMR LLC as of December 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 47.8% of the economic interest of RMR LLC as of December 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 December 31, 2020, managed a diverse portfolio of real estate and real estate related businesses. RMR LLC provides management services to four publicly traded equity 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. DHC, ILPT, OPI and SVC are collectively referred to as the Managed Equity REITs. RMR LLC also provides management services to three real estate operating companies: 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, and many of whose U.S. hotels are owned by SVC; and TravelCenters of America Inc., or TA, an operator and franchisor of travel centers primarily along the U.S. interstate highway system, many of which are owned by SVC, and standalone truck service facilities and standalone restaurants. Hereinafter, Five Star, Sonesta and TA are collectively referred to as the Managed Operating Companies. In addition, RMR LLC provides management services to private capital vehicles, including ABP Trust and its subsidiaries, or collectively ABP Trust, and as of November 18, 2020, The Industrial Fund REIT LLC, or the Industrial Fund, a private fund which owns industrial and logistics properties throughout the United States and of which ILPT owns a 22% equity interest. RMR LLC also provided management services to Affiliates Insurance Company, or AIC, an Indiana insurance company, until its dissolution on February 13, 2020, and RMR Office Property Fund LP, or the Open End Fund, until its dissolution on July 28, 2020. As of December 31, 2020, RMR LLC had two wholly owned subsidiaries, each an investment adviser registered with the Securities and Exchange Commission, or SEC: Tremont Realty Advisors LLC, or Tremont Advisors, and RMR Advisors LLC, or RMR Advisors. Tremont Advisors provides advisory services for two publicly traded mortgage REITs: RMR Mortgage Trust, or RMRM, and Tremont Mortgage Trust, or TRMT. RMRM, TRMT and the Managed Equity REITs are collectively referred to as the Managed REITs. RMRM and TRMT focus primarily on originating and investing in first mortgage whole loans secured by middle market and transitional commercial real estate. Tremont Advisors has in the past and may in the future manage additional accounts that invest in commercial real estate debt, including secured mortgage debt. Employees of Tremont Advisors also act as a transaction originator for non-investment advisory clients for negotiated fees, which we refer to as the Tremont business. On January 5, 2021, RMRM received its requested order from the SEC deregistering RMRM as an investment company under the Investment Company Act of 1940. Effective as of that time, RMRM’s investment advisory agreement with RMR Advisors was terminated and RMRM entered into a new management agreement with Tremont Advisors. On January 6, 2021, RMR Advisors merged with and into Tremont Advisors with Tremont Advisors as the surviving entity. In these financial statements, we refer to the Managed REITs, the Managed Operating Companies, AIC, ABP Trust, the Industrial Fund, the Open End Fund and the clients of the Tremont business as our Client Companies. The Managed REITs are also referred to as the Managed Public Real Estate Capital companies. AIC, ABP Trust, the Industrial Fund, the Open End Fund and the clients of the Tremont business are referred to as the Managed Private Real Estate Capital companies. The accompanying condensed consolidated financial statements of RMR Inc. are unaudited. Certain information and disclosures required by U.S. Generally Accepted Accounting Principles, or GAAP, for complete financial statements have been condensed or omitted. We believe the disclosures made are adequate to make the information presented not misleading. However, the accompanying condensed consolidated financial statements should be read in conjunction with the financial statements and notes contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, or our 2020 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. 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.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncements	3 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or 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. On October 1, 2020, we adopted ASU No. 2016-13. We have not historically experienced credit losses from our Client Companies and as a result, the adoption of ASU No. 2016-13 did not have a material impact on our condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 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 the three months ended December 31, 2020 and 2019, we earned aggregate base business management fees from the Managed Equity REITs of $21,555 and $27,391, 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 business management 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. We did not earn incentive business management fees from the Managed Equity REITs for the three months ended December 31, 2020 and 2019. Other Management Agreements Managed Operating Companies We earn management fees by providing continuous services pursuant to the management agreements from the Managed Operating Companies 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; and (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. These fees are estimated and payable monthly in advance. We earned aggregate fees from the Managed Operating Companies of $5,638 and $6,126 for the three months ended December 31, 2020 and 2019, respectively. ABP Trust, AIC, the Industrial Fund and the Open End Fund Management fees earned from ABP Trust and the Industrial Fund (beginning November 18, 2020) are equal to 0.5% and 1.0%, respectively, of average invested capital, as defined in the applicable management agreements. Until November 18, 2020, the Industrial Fund was a consolidated subsidiary of ILPT; as a result, any management fees payable to us with respect to the Industrial Fund were included as part of the management fees we earned pursuant to ILPT’s business management agreement as described above. On November 18, 2020, the Industrial Fund ceased to be a consolidated subsidiary of ILPT. As a result, we now earn management fees from the Industrial Fund separate from the management fees we earn from ILPT and ILPT does not pay us management fees based on the Industrial Fund’s assets. These management fees are paid monthly in arrears. Until December 31, 2019, management fees earned from ABP Trust were equal to 0.6% of revenues from all sources reportable under GAAP. 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. Until it’s dissolution on July 28, 2020, we earned fees from the Open End Fund pursuant to an administration services agreement equal to 1.0% of the Open End Fund’s net asset value, as defined, annually. In connection with the dissolution of the Open End Fund, the Transaction Agreement, dated as of July 31, 2018, between ABP Trust and RMR LLC was terminated and all of the properties that ABP Trust initially contributed to the Open End Fund were transferred back to ABP Trust and became a part of our management agreements with ABP Trust. We earned aggregate fees from ABP Trust, AIC, the Industrial Fund and the Open End Fund of $916 and $553 for the three months ended December 31, 2020 and 2019, respectively. Property Management Fees We earn property management fees by providing continuous services pursuant to property management agreements with the Managed Equity REITs, ABP Trust and the Industrial Fund. We also earned property management fees from the Open End Fund until its dissolution. 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 $12,379 and $12,525 for the three months ended December 31, 2020 and 2019, respectively. Other Agreements Tremont Advisors is primarily compensated pursuant to its management agreements with RMRM (beginning January 6, 2021) and TRMT at an annual rate of 1.5% of RMRM’s and TRMT’s equity, as defined in the applicable agreements. Tremont Advisors may also earn an incentive fee under these management agreements for RMRM (beginning the first full calendar quarter of 2021) and TRMT (beginning the calendar quarter ending December 31, 2018). Tremont Advisors 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 December 31, 2020. Tremont Advisors earned aggregate advisory services revenue from TRMT of $37 and $36 for the three months ended December 31, 2020 and 2019, respectively, in each case net of the fee waiver referenced above, as applicable. RMR Advisors, which previously provided advisory services for RMRM until it merged into Tremont Advisors on January 6, 2021, was compensated pursuant to its agreement with RMRM at an annual rate of 0.85% of RMRM’s average daily managed assets. Average daily managed assets included the net asset value attributable to RMRM’s outstanding common shares and cash on hand, plus the liquidation preference of RMRM’s outstanding preferred shares and the principal amount of any borrowings, including from banks or evidenced by notes, commercial paper or other similar instruments issued by RMRM. RMR Advisors earned advisory services revenue of $549 and $811 for the three months ended December 31, 2020 and 2019, respectively. 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 $259 and $680 for the three months ended December 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 our employees provide pursuant to our property management agreements at the assets of our Client Companies. A significant portion of these compensation and benefits 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 on behalf of our Client Companies. We realized reimbursable compensation and benefits of $13,225 and $12,847 for the three months ended December 31, 2020 and 2019, respectively. Reimbursable Client Company Equity Based Compensation Reimbursable client company equity based compensation includes 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 and related reimbursements from our Client Companies of $3,003 and $948 for the three months ended December 31, 2020 and 2019, respectively. Other Client Company Reimbursable Expenses Other client company reimbursable expenses include reimbursements that arise from services we provide pursuant to our property management agreements, which include third party costs related to matters such as maintenance and repairs, security and cleaning services, 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 certain of our Client Companies and therefore we account for the cost of these services and the related reimbursement revenue on a gross basis.

Investments

Investments	3 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Equity Method Investment As of December 31, 2020, Tremont Advisors owned 1,600,100, or approximately 19.3%, 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 $424 and $255 for the three months ended December 31, 2020 and 2019, respectively. We received aggregate distributions from TRMT of $17 and $352 during the three months ended December 31, 2020 and 2019, respectively. Equity Method Investment Accounted for Under the Fair Value Option

Income Taxes

Income Taxes	3 Months Ended
	Dec. 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 December 31, 2020 and 2019, we recognized estimated income tax expense of $2,756 and $3,724, respectively, which includes $2,024 and $2,777, respectively, of U.S. federal income tax and $732 and $947, respectively, of state income taxes. A reconciliation of the statutory income tax rate to the effective tax rate is as follows: Three Months Ended December 31, 2020 2019 Income taxes computed at the federal statutory rate 21.0 % 21.0 % State taxes, net of federal benefit 3.1 % 3.6 % Permanent items 0.5 % 0.2 % Net income attributable to noncontrolling interest (10.1) % (10.1) % Other (1) (2.3) % — % Total 12.2 % 14.7 % (1) In December 2020, the Internal Revenue Service and Department of Treasury released final regulations which, among other clarifications, established the effective date as it relates to limitations on the deductibility of certain executive compensation. The final regulations provide that the application of the limit applies to deductions after December 18, 2020. As such, during the three months ended December 31, 2020, we reduced our provision for income taxes for limitations applied prior to the effective date by $520, or $0.02 per diluted share, which reduced the effective income tax rate for the quarter by 2.3%. 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 December 31, 2020, we had no uncertain tax positions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of December 31, 2020 and September 30, 2020, the fair values of our financial instruments, which include cash and cash equivalents, amounts due from related parties and accounts payable and accrued expenses, which include liabilities related to other Client Company reimbursable expenses, were not materially different from their carrying values due to the short term nature of these financial instruments. 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. The following are our assets and liabilities that have been measured at fair value using Level 1 inputs in the fair value hierarchy as of December 31, 2020 and September 30, 2020: December 31, September 30, 2020 2020 Money market funds included in cash and cash equivalents $ 351,848 $ 341,612 Current portion of due from related parties related to share based payment awards 3,350 4,298 Long term portion of due from related parties related to share based payment awards 11,289 7,764 Current portion of employer compensation liability related to share based payment awards 3,350 4,298 Long term portion of employer compensation liability related to share based payment awards 11,289 7,764

Related Person Transactions

Related Person Transactions	3 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Person Transactions	Related Person TransactionsAdam 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 December 31, 2020, Adam D. Portnoy beneficially owned, in aggregate, (i) 157,502 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 and TA, a director of Sonesta (and its parent) and the controlling shareholder of Sonesta, and a managing trustee of RMRM. Jennifer B. Clark is a managing trustee of DHC, a managing director of Five Star and a director of Sonesta (and its parent), and until January 5, 2021, she served as a managing trustee of RMRM. Ms. Clark also serves as the secretary of all the publicly traded client companies to which we provide management services and 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. In addition, Mr. Portnoy and Ms. Clark were officers of the general partner of the Open End Fund. As of December 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, 4.5% of TA’s outstanding common shares (including through RMR LLC), 2.3% of RMRM’s outstanding common shares, and 19.4% of TRMT’s outstanding common shares (including through Tremont Advisors). Until its dissolution on February 13, 2020, ABP Trust owned 14.3% of AIC. Until its dissolution on July 28, 2020, ABP Trust owned 100% of the limited partner units and controlled all of the assets of the Open End Fund. The Managed REITs all have no employees, and the Open End Fund and AIC had no employees. RMR LLC provides or arranges for all the personnel, overhead and services required for the operation of the Managed Equity REITs, and did the same for the Open End Fund (until its dissolution on July 28, 2020) and AIC (until its dissolution on February 13, 2020), pursuant to management agreements with them. All the officers of the Managed Equity REITs are, and all of the officers of AIC and the Open End Fund were, officers or employees of RMR LLC. All the officers, overhead and required office space of TRMT and RMRM are provided or arranged by Tremont Advisors. All of TRMT’s and RMRM’s officers are officers or employees of Tremont Advisors or RMR LLC. Many of the executive officers of the Managed Operating Companies are officers or employees of RMR LLC. Some of our executive officers are also managing directors or managing trustees of certain of the Managed REITs and the Managed Operating Companies. Additional information about our related person transactions appears in Note 8, Shareholders’ Equity , below and in our 2020 Annual Report. Revenues from Related Parties For the three months ended December 31, 2020 and 2019, we recognized revenues from related parties as set forth in the following table: Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 Total Total Management Management and Advisory Total and Advisory Total Services Reimbursable Total Services Reimbursable Total Revenues Costs Revenues Revenues Costs Revenues Managed Public Real Estate Capital: DHC $ 8,922 $ 42,284 $ 51,206 $ 9,955 $ 33,602 $ 43,557 ILPT 4,874 5,191 10,065 5,574 10,767 16,341 OPI 9,267 55,527 64,794 10,163 54,720 64,883 SVC 10,217 5,012 15,229 13,673 5,451 19,124 Total Managed Equity REITs 33,280 108,014 141,294 39,365 104,540 143,905 RMRM 549 — 549 811 — 811 TRMT 37 966 1,003 36 661 697 Total Managed REITs 33,866 108,980 142,846 40,212 105,201 145,413 Managed Private Real Estate Capital: ABP Trust 1,056 5,217 6,273 223 3,094 3,317 AIC — — — — 91 91 Industrial Fund 514 1,035 1,549 — — — Open End Fund — — — 840 3,156 3,996 1,570 6,252 7,822 1,063 6,341 7,404 Managed Operating Companies: Five Star 1,976 70 2,046 2,252 24 2,276 Sonesta 353 — 353 579 46 625 TA 3,309 311 3,620 3,295 150 3,445 5,638 381 6,019 6,126 220 6,346 Total revenues from related parties 41,074 115,613 156,687 47,401 111,762 159,163 Revenues from unrelated parties 259 — 259 721 8 729 $ 41,333 $ 115,613 $ 156,946 $ 48,122 $ 111,770 $ 159,892 Amounts Due From Related Parties The following table represents amounts due from related parties as of the dates indicated: December 31, 2020 September 30, 2020 Accounts Reimbursable Accounts Reimbursable Receivable Costs Total Receivable Costs Total Managed Public Real Estate Capital: DHC $ 5,180 $ 17,309 $ 22,489 $ 5,548 $ 22,035 $ 27,583 ILPT 2,314 4,348 6,662 3,089 5,791 8,880 OPI 6,713 24,899 31,612 7,883 30,529 38,412 SVC 4,624 5,215 9,839 4,258 6,326 10,584 Total Managed Equity REITs 18,831 51,771 70,602 20,778 64,681 85,459 RMRM 26 — 26 — — — TRMT 4 504 508 19 614 633 Total Managed REITs 18,861 52,275 71,136 20,797 65,295 86,092 Managed Private Real Estate Capital: ABP Trust 978 2,393 3,371 1,106 2,364 3,470 Industrial Fund 435 519 954 — — — 1,413 2,912 4,325 1,106 2,364 3,470 Managed Operating Companies: Five Star 96 536 632 149 102 251 TA 106 3,535 3,641 176 380 556 202 4,071 4,273 325 482 807 $ 20,476 $ 59,258 $ 79,734 $ 22,228 $ 68,141 $ 90,369 Leases As of December 31, 2020, we leased from ABP Trust and certain Managed Equity REITs office space for use as our headquarters and local offices. We incurred rental expense under related party leases aggregating $1,383 and $1,433 for the three months ended December 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 December 31, 2020, our condensed consolidated balance sheet reflects a liability related to the tax receivable agreement of $29,950, including $2,161 classified as a current liability that we expect to pay to ABP Trust during the fourth quarter of fiscal year 2021. Under the RMR LLC operating agreement, RMR LLC is also required to make certain pro rata distributions to each member of RMR LLC quarterly on the basis of the estimated tax liabilities of its members estimated quarterly, subject to future adjustment based on actual results. For the three months ended December 31, 2020 and 2019, pursuant to the RMR LLC operating agreement, RMR LLC made required quarterly tax distributions to holders of its membership units totaling $5,855 and $7,993, respectively, of which $3,035 and $4,163, respectively, was distributed to us and $2,820 and $3,830, 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 certain of our former executive officers. 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. All costs associated with separation arrangements, for which there remain no substantive performance obligations, are recorded in our condensed consolidated statements of income as separation costs. In October 2020, we entered into a retirement agreement with David M. Blackman, a former Executive Vice President of RMR LLC. Mr. Blackman, at the time, also served as president, chief executive officer and a director of Tremont Realty Advisors LLC, president, chief executive officer and managing trustee of TRMT, president, chief executive officer and managing trustee of OPI, and executive vice president of RMR Advisors LLC. Pursuant to his retirement agreement, Mr. Blackman remained in his officer, director and trustee roles with RMR LLC, Tremont Realty Advisors LLC, TRMT, OPI and RMR Advisors through December 31, 2020 and he will continue to serve as a managing trustee of OPI until June 30, 2021 or such earlier time as his successor managing trustee is elected to OPI’s board of trustees. In addition, Mr. Blackman will continue to serve as an employee of RMR LLC through June 30, 2021. Under Mr. Blackman’s retirement agreement, RMR LLC agreed to pay Mr. Blackman combined cash payments in the amount of $2,850. We paid half of that amount on February 1, 2021, and we expect to pay the other half on or about July 31, 2021. In addition, in October 2020, our Compensation Committee approved the acceleration of all 9,400 unvested shares owned by Mr. Blackman of us as of his retirement date, June 30, 2021, subject to applicable conditions. For the three months ended December 31, 2020 and 2019, we recognized cash and equity based separation costs as set forth in the following table: Three Months Ended December 31, 2020 2019 Former executive officers: Cash separation costs $ 2,900 $ 260 Equity based separation costs 295 — 3,195 260 Former nonexecutive officers: Cash separation costs (1) 805 — Equity based separation costs 159 — 964 — Total separation costs $ 4,159 $ 260 (1) During the three months ended December 31, 2020, we were indemnified for a withdrawal liability of $515 that we had recorded during the three months ended September 30, 2020 related to a prior Client Company’s shared pension plan accounted for as a multiemployer benefit plan.

Shareholders_ Equity

Shareholders’ Equity	3 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Shareholders’ Equity	Shareholders’ Equity 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 in that capacity vest immediately. Shares issued to employees in that capacity 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 in that capacity are included in general and administrative expenses and for shares granted to employees in that capacity are included in equity based compensation in our condensed consolidated statements of income. Equity based compensation expense related to shares granted to certain officers and employees was $558 and $634 for the three months ended December 31, 2020 and 2019, respectively. As of December 31, 2020, we had 129,570 unvested shares outstanding, net of 14,420 shares, the vesting for which was accelerated during the three months ended December 31, 2020. The unvested shares at December 31, 2020 are scheduled to vest as follows: 45,020 shares in 2021, 37,550 shares in 2022, 29,660 shares in 2023 and 17,340 in 2024. Distributions During the three months ended December 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 Three Months Ended December 31, 2020 10/15/2020 10/26/2020 11/19/2020 $ 0.38 $ 6,230 $ 0.38 $ 6,230 Three Months Ended December 31, 2019 10/17/2019 10/28/2019 11/14/2019 $ 0.38 $ 6,195 $ 0.38 $ 6,195 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 Three Months Ended December 31, 2020 10/15/2020 10/26/2020 11/19/2020 $ 0.30 $ 9,419 $ 4,919 $ 4,500 $ 0.30 $ 9,419 $ 4,919 $ 4,500 Three Months Ended December 31, 2019 10/17/2019 10/28/2019 11/14/2019 $ 0.30 $ 9,391 $ 4,891 $ 4,500 $ 0.30 $ 9,391 $ 4,891 $ 4,500 The remainder of the dividends noted above were funded with cash accumulated at RMR Inc. On January 14, 2021, we declared a quarterly dividend on our Class A Common Shares and Class B-1 Common Shares to our shareholders of record as of January 25, 2021, in the amount of $0.38 per Class A Common Share and Class B-1 Common Share, or $6,230. 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 $9,419, of which $4,919 will be distributed to us based on our aggregate ownership of 16,395,641 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 February 18, 2021.

Per Common Share Amounts

Per Common Share Amounts	3 Months Ended
	Dec. 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 months ended December 31, 2019, such redemption is not reflected in diluted earnings per share as the assumed redemption would be anti-dilutive. For the three months ended December 31, 2020, the assumed redemption is dilutive to earnings per share as presented in the table below. The calculation of basic and diluted earnings per share for the three months ended December 31, 2020 and 2019, is as follows: Three Months Ended December 31, 2020 2019 Numerators: Net income attributable to The RMR Group Inc. $ 8,897 $ 9,449 Income attributable to unvested participating securities (78) (73) Net income attributable to The RMR Group Inc. used in calculating basic EPS 8,819 9,376 Effect of dilutive securities: Add back: net income attributable to noncontrolling interest 10,856 — Add back: income tax expense 2,756 — Income tax expense assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares (1) (6,515) — Net income attributable to The RMR Group Inc. used in calculating diluted EPS $ 15,916 $ 9,376 Denominators: Common shares outstanding 16,396 16,302 Unvested participating securities (144) (125) Weighted average common shares outstanding - basic 16,252 16,177 Effect of dilutive securities: Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares 15,000 — Weighted average common shares outstanding - diluted 31,252 16,177 Net income attributable to The RMR Group Inc. per common share - basic $ 0.54 $ 0.58 Net income attributable to The RMR Group Inc. per common share - diluted $ 0.51 $ 0.58 (1) For the three months ended December 31, 2020, income tax expense assumes conversion of the noncontrolling interest, which results in an estimated tax rate of 29.0%.

Net Income Attributable to RMR

Net Income Attributable to RMR Inc.	3 Months Ended
	Dec. 31, 2020
Net Income Attributable to RMR Inc.
Net Income Attributable to RMR Inc.	Net Income Attributable to RMR Inc. Net income attributable to RMR Inc. for the three months ended December 31, 2020 and 2019, is calculated as follows: Three Months Ended December 31, 2020 2019 Income before income tax expense $ 22,509 $ 25,348 RMR Inc. franchise tax expense and interest income 212 56 Net income before noncontrolling interest 22,721 25,404 Net income attributable to noncontrolling interest (10,856) (12,175) Net income attributable to RMR Inc. before income tax expense 11,865 13,229 Income tax expense attributable to RMR Inc. (2,756) (3,724) RMR Inc. franchise tax expense and interest income (212) (56) Net income attributable to RMR Inc. $ 8,897 $ 9,449

Segment Reporting

Segment Reporting	3 Months Ended
	Dec. 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 December 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 40,488 $ 259 $ 40,747 Advisory services — 586 586 Total management and advisory services revenues 40,488 845 41,333 Reimbursable compensation and benefits 12,789 436 13,225 Reimbursable client company equity based compensation 3,003 — 3,003 Other client company reimbursable expenses 99,385 — 99,385 Total reimbursable costs 115,177 436 115,613 Total revenues 155,665 1,281 156,946 Expenses: Compensation and benefits 27,869 1,625 29,494 Equity based compensation 3,517 44 3,561 Separation costs 4,159 — 4,159 Total compensation and benefits expense 35,545 1,669 37,214 General and administrative 5,253 1,007 6,260 Other client company reimbursable expenses 99,385 — 99,385 Transaction and acquisition related costs 68 49 117 Depreciation and amortization 227 11 238 Total expenses 140,478 2,736 143,214 Operating income (loss) 15,187 (1,455) 13,732 Interest and other income 218 13 231 Equity in earnings of investees — 424 424 Unrealized gain on equity method investment accounted for under the fair value option 8,122 — 8,122 Income (loss) before income tax expense 23,527 (1,018) 22,509 Income tax expense — (2,756) (2,756) Net income (loss) $ 23,527 $ (3,774) $ 19,753 Total assets $ 651,689 $ 46,704 $ 698,393 (1) Intersegment revenues of $1,142 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 December 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 46,595 $ 680 $ 47,275 Advisory services — 847 847 Total management and advisory services revenues 46,595 1,527 48,122 Reimbursable compensation and benefits 11,754 1,093 12,847 Reimbursable client company equity based compensation 948 — 948 Other client company reimbursable expenses 97,975 — 97,975 Total reimbursable costs 110,677 1,093 111,770 Total revenues 157,272 2,620 159,892 Expenses: Compensation and benefits 27,275 2,922 30,197 Equity based compensation 1,567 15 1,582 Separation costs 260 — 260 Total compensation and benefits expense 29,102 2,937 32,039 General and administrative 6,125 921 7,046 Other client company reimbursable expenses 97,975 — 97,975 Transaction and acquisition related costs 49 747 796 Depreciation and amortization 244 12 256 Total expenses 133,495 4,617 138,112 Operating income (loss) 23,777 (1,997) 21,780 Interest and other income 1,720 155 1,875 Equity in earnings of investees — 255 255 Unrealized gain on equity method investment accounted for under the fair value option 1,438 — 1,438 Income (loss) before income tax expense 26,935 (1,587) 25,348 Income tax expense — (3,724) (3,724) Net income (loss) $ 26,935 $ (5,311) $ 21,624 Total assets $ 654,196 $ 50,934 $ 705,130 (1) Intersegment revenues of $2,075 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.

Recently Adopted Accounting P_2

Recently Adopted Accounting Pronouncements (Policies)	3 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or 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. On October 1, 2020, we adopted ASU No. 2016-13. We have not historically experienced credit losses from our Client Companies and as a result, the adoption of ASU No. 2016-13 did not have a material impact on our condensed consolidated financial statements.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 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 December 31, 2020 2019 Income taxes computed at the federal statutory rate 21.0 % 21.0 % State taxes, net of federal benefit 3.1 % 3.6 % Permanent items 0.5 % 0.2 % Net income attributable to noncontrolling interest (10.1) % (10.1) % Other (1) (2.3) % — % Total 12.2 % 14.7 % (1) In December 2020, the Internal Revenue Service and Department of Treasury released final regulations which, among other clarifications, established the effective date as it relates to limitations on the deductibility of certain executive compensation. The final regulations provide that the application of the limit applies to deductions after December 18, 2020. As such, during the three months ended December 31, 2020, we reduced our provision for income taxes for limitations applied prior to the effective date by $520, or $0.02 per diluted share, which reduced the effective income tax rate for the quarter by 2.3%.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value	The following are our assets and liabilities that have been measured at fair value using Level 1 inputs in the fair value hierarchy as of December 31, 2020 and September 30, 2020: December 31, September 30, 2020 2020 Money market funds included in cash and cash equivalents $ 351,848 $ 341,612 Current portion of due from related parties related to share based payment awards 3,350 4,298 Long term portion of due from related parties related to share based payment awards 11,289 7,764 Current portion of employer compensation liability related to share based payment awards 3,350 4,298 Long term portion of employer compensation liability related to share based payment awards 11,289 7,764

Related Person Transactions - (

Related Person Transactions - (Tables)	3 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of related party transactions	For the three months ended December 31, 2020 and 2019, we recognized revenues from related parties as set forth in the following table: Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 Total Total Management Management and Advisory Total and Advisory Total Services Reimbursable Total Services Reimbursable Total Revenues Costs Revenues Revenues Costs Revenues Managed Public Real Estate Capital: DHC $ 8,922 $ 42,284 $ 51,206 $ 9,955 $ 33,602 $ 43,557 ILPT 4,874 5,191 10,065 5,574 10,767 16,341 OPI 9,267 55,527 64,794 10,163 54,720 64,883 SVC 10,217 5,012 15,229 13,673 5,451 19,124 Total Managed Equity REITs 33,280 108,014 141,294 39,365 104,540 143,905 RMRM 549 — 549 811 — 811 TRMT 37 966 1,003 36 661 697 Total Managed REITs 33,866 108,980 142,846 40,212 105,201 145,413 Managed Private Real Estate Capital: ABP Trust 1,056 5,217 6,273 223 3,094 3,317 AIC — — — — 91 91 Industrial Fund 514 1,035 1,549 — — — Open End Fund — — — 840 3,156 3,996 1,570 6,252 7,822 1,063 6,341 7,404 Managed Operating Companies: Five Star 1,976 70 2,046 2,252 24 2,276 Sonesta 353 — 353 579 46 625 TA 3,309 311 3,620 3,295 150 3,445 5,638 381 6,019 6,126 220 6,346 Total revenues from related parties 41,074 115,613 156,687 47,401 111,762 159,163 Revenues from unrelated parties 259 — 259 721 8 729 $ 41,333 $ 115,613 $ 156,946 $ 48,122 $ 111,770 $ 159,892 The following table represents amounts due from related parties as of the dates indicated: December 31, 2020 September 30, 2020 Accounts Reimbursable Accounts Reimbursable Receivable Costs Total Receivable Costs Total Managed Public Real Estate Capital: DHC $ 5,180 $ 17,309 $ 22,489 $ 5,548 $ 22,035 $ 27,583 ILPT 2,314 4,348 6,662 3,089 5,791 8,880 OPI 6,713 24,899 31,612 7,883 30,529 38,412 SVC 4,624 5,215 9,839 4,258 6,326 10,584 Total Managed Equity REITs 18,831 51,771 70,602 20,778 64,681 85,459 RMRM 26 — 26 — — — TRMT 4 504 508 19 614 633 Total Managed REITs 18,861 52,275 71,136 20,797 65,295 86,092 Managed Private Real Estate Capital: ABP Trust 978 2,393 3,371 1,106 2,364 3,470 Industrial Fund 435 519 954 — — — 1,413 2,912 4,325 1,106 2,364 3,470 Managed Operating Companies: Five Star 96 536 632 149 102 251 TA 106 3,535 3,641 176 380 556 202 4,071 4,273 325 482 807 $ 20,476 $ 59,258 $ 79,734 $ 22,228 $ 68,141 $ 90,369 For the three months ended December 31, 2020 and 2019, we recognized cash and equity based separation costs as set forth in the following table: Three Months Ended December 31, 2020 2019 Former executive officers: Cash separation costs $ 2,900 $ 260 Equity based separation costs 295 — 3,195 260 Former nonexecutive officers: Cash separation costs (1) 805 — Equity based separation costs 159 — 964 — Total separation costs $ 4,159 $ 260 (1) During the three months ended December 31, 2020, we were indemnified for a withdrawal liability of $515 that we had recorded during the three months ended September 30, 2020 related to a prior Client Company’s shared pension plan accounted for as a multiemployer benefit plan.

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	3 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Dividends Declared	During the three months ended December 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 Three Months Ended December 31, 2020 10/15/2020 10/26/2020 11/19/2020 $ 0.38 $ 6,230 $ 0.38 $ 6,230 Three Months Ended December 31, 2019 10/17/2019 10/28/2019 11/14/2019 $ 0.38 $ 6,195 $ 0.38 $ 6,195 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 Three Months Ended December 31, 2020 10/15/2020 10/26/2020 11/19/2020 $ 0.30 $ 9,419 $ 4,919 $ 4,500 $ 0.30 $ 9,419 $ 4,919 $ 4,500 Three Months Ended December 31, 2019 10/17/2019 10/28/2019 11/14/2019 $ 0.30 $ 9,391 $ 4,891 $ 4,500 $ 0.30 $ 9,391 $ 4,891 $ 4,500

Per Common Share Amounts (Table

Per Common Share Amounts (Tables)	3 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The calculation of basic and diluted earnings per share for the three months ended December 31, 2020 and 2019, is as follows: Three Months Ended December 31, 2020 2019 Numerators: Net income attributable to The RMR Group Inc. $ 8,897 $ 9,449 Income attributable to unvested participating securities (78) (73) Net income attributable to The RMR Group Inc. used in calculating basic EPS 8,819 9,376 Effect of dilutive securities: Add back: net income attributable to noncontrolling interest 10,856 — Add back: income tax expense 2,756 — Income tax expense assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares (1) (6,515) — Net income attributable to The RMR Group Inc. used in calculating diluted EPS $ 15,916 $ 9,376 Denominators: Common shares outstanding 16,396 16,302 Unvested participating securities (144) (125) Weighted average common shares outstanding - basic 16,252 16,177 Effect of dilutive securities: Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares 15,000 — Weighted average common shares outstanding - diluted 31,252 16,177 Net income attributable to The RMR Group Inc. per common share - basic $ 0.54 $ 0.58 Net income attributable to The RMR Group Inc. per common share - diluted $ 0.51 $ 0.58 (1) For the three months ended December 31, 2020, income tax expense assumes conversion of the noncontrolling interest, which results in an estimated tax rate of 29.0%.

Net Income Attributable to RM_2

Net Income Attributable to RMR Inc. (Tables)	3 Months Ended
	Dec. 31, 2020
Net Income Attributable to RMR Inc.
Schedule of net income attributable to parent	Net income attributable to RMR Inc. for the three months ended December 31, 2020 and 2019, is calculated as follows: Three Months Ended December 31, 2020 2019 Income before income tax expense $ 22,509 $ 25,348 RMR Inc. franchise tax expense and interest income 212 56 Net income before noncontrolling interest 22,721 25,404 Net income attributable to noncontrolling interest (10,856) (12,175) Net income attributable to RMR Inc. before income tax expense 11,865 13,229 Income tax expense attributable to RMR Inc. (2,756) (3,724) RMR Inc. franchise tax expense and interest income (212) (56) Net income attributable to RMR Inc. $ 8,897 $ 9,449

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of segment reporting information	Three Months Ended December 31, 2020 All Other RMR LLC (1) Operations Total Revenues: Management services $ 40,488 $ 259 $ 40,747 Advisory services — 586 586 Total management and advisory services revenues 40,488 845 41,333 Reimbursable compensation and benefits 12,789 436 13,225 Reimbursable client company equity based compensation 3,003 — 3,003 Other client company reimbursable expenses 99,385 — 99,385 Total reimbursable costs 115,177 436 115,613 Total revenues 155,665 1,281 156,946 Expenses: Compensation and benefits 27,869 1,625 29,494 Equity based compensation 3,517 44 3,561 Separation costs 4,159 — 4,159 Total compensation and benefits expense 35,545 1,669 37,214 General and administrative 5,253 1,007 6,260 Other client company reimbursable expenses 99,385 — 99,385 Transaction and acquisition related costs 68 49 117 Depreciation and amortization 227 11 238 Total expenses 140,478 2,736 143,214 Operating income (loss) 15,187 (1,455) 13,732 Interest and other income 218 13 231 Equity in earnings of investees — 424 424 Unrealized gain on equity method investment accounted for under the fair value option 8,122 — 8,122 Income (loss) before income tax expense 23,527 (1,018) 22,509 Income tax expense — (2,756) (2,756) Net income (loss) $ 23,527 $ (3,774) $ 19,753 Total assets $ 651,689 $ 46,704 $ 698,393 (1) Intersegment revenues of $1,142 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 December 31, 2019 All Other RMR LLC (1) Operations Total Revenues: Management services $ 46,595 $ 680 $ 47,275 Advisory services — 847 847 Total management and advisory services revenues 46,595 1,527 48,122 Reimbursable compensation and benefits 11,754 1,093 12,847 Reimbursable client company equity based compensation 948 — 948 Other client company reimbursable expenses 97,975 — 97,975 Total reimbursable costs 110,677 1,093 111,770 Total revenues 157,272 2,620 159,892 Expenses: Compensation and benefits 27,275 2,922 30,197 Equity based compensation 1,567 15 1,582 Separation costs 260 — 260 Total compensation and benefits expense 29,102 2,937 32,039 General and administrative 6,125 921 7,046 Other client company reimbursable expenses 97,975 — 97,975 Transaction and acquisition related costs 49 747 796 Depreciation and amortization 244 12 256 Total expenses 133,495 4,617 138,112 Operating income (loss) 23,777 (1,997) 21,780 Interest and other income 1,720 155 1,875 Equity in earnings of investees — 255 255 Unrealized gain on equity method investment accounted for under the fair value option 1,438 — 1,438 Income (loss) before income tax expense 26,935 (1,587) 25,348 Income tax expense — (3,724) (3,724) Net income (loss) $ 26,935 $ (5,311) $ 21,624 Total assets $ 654,196 $ 50,934 $ 705,130 (1) Intersegment revenues of $2,075 recognized by RMR LLC for services provided to our All Other Operations segment have been eliminated in the condensed consolidated financial statements.

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Dec. 31, 2020subsidiaryreal_estate_investment_trustcompanyshares
Related Party Transaction [Line Items]
Number of managed trusts | real_estate_investment_trust	4
Number of real estate operating companies | company	3
Wholly owned subsidiaries | subsidiary	2
RMR LLC
Related Party Transaction [Line Items]
Ownership percentage	52.20%
Class B membership units
Related Party Transaction [Line Items]
Membership units (in units)	1,000,000
ILPT | Industrial Fund
Related Party Transaction [Line Items]
Equity method ownership percentage	22.00%
Tremont Advisors
Related Party Transaction [Line Items]
Number of managed trusts | real_estate_investment_trust	2
Class A Common Stock | Class A membership units
Related Party Transaction [Line Items]
Membership units (in units)	15,395,641
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	47.80%

Revenue Recognition - Managed E

Revenue Recognition - Managed Equity REITs (Details) - Managed Equity REITs - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 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
Business management fees as a percentage of average invested capital above the threshold limit	0.50%
Minimum threshold amount for calculating the business management fees	$ 250,000
Business management fees as a percent of average market capitalization below the threshold limit	0.70%
Business management fees as a percent of average market capitalization above the threshold limit	0.50%
Aggregate base business management fees	$ 21,555	$ 27,391
Contingent incentive business management fee percentage	12.00%

Revenue Recognition - Business

Revenue Recognition - Business Management Fees (Details) - USD ($) $ in Thousands	Nov. 18, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Managed Operating Companies:
Related Party Transaction [Line Items]
Business management fee percent based on management agreements				0.60%
Aggregate business management fees		$ 5,638	$ 6,126
AIC
Related Party Transaction [Line Items]
Business management fee percent based on total premiums paid					3.00%
ABP Trust
Related Party Transaction [Line Items]
Business management fee percent based on management agreements	0.50%
Management fee as a percent of NAV			0.60%
Industrial Fund
Related Party Transaction [Line Items]
Business management fee percent based on management agreements	1.00%
Open End Fund
Related Party Transaction [Line Items]
Management fee as a percent of NAV		1.00%
ABP Trust, AIC, The Industrial Fund and The Open End Fund
Related Party Transaction [Line Items]
Aggregate business management fees		$ 916	$ 553

Revenue Recognition - Property

Revenue Recognition - Property Management Fees (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 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	$ 12,379	$ 12,525

Revenue Recognition - Advisory

Revenue Recognition - Advisory Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Total revenues	$ 156,946	$ 159,892
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]
Total revenues	$ 586	$ 847
Management services
Related Party Transaction [Line Items]
Total revenues	$ 40,747	47,275
RMRM
Related Party Transaction [Line Items]
Advisory fee percent	0.85%
RMR Advisors and Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Total revenues	$ 549	811
Tremont Advisors | Advisory services
Related Party Transaction [Line Items]
Total revenues	37	36
Tremont Advisors | Management services
Related Party Transaction [Line Items]
Total revenues	$ 259	$ 680

Revenue Recognition - Reimbursa

Revenue Recognition - Reimbursable Payroll Related and Other Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Equity based compensation expense and related reimbursements	$ 3,003	$ 948
Total revenues	156,946	159,892
Reimbursable compensation and benefits
Disaggregation of Revenue [Line Items]
Total revenues	13,225	12,847
Other client company reimbursable expenses
Disaggregation of Revenue [Line Items]
Total revenues	$ 99,385	$ 97,975

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Equity in earnings of investees	$ 424	$ 255
Distributions from equity method investment	17	352
Equity method investment accounted for under the fair value option	20,274		$ 12,152
Unrealized (loss) gain on equity method investment accounted for under the fair value option	8,122	1,438
Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Distributions from equity method investment	$ 17	$ 352
Tremont Advisors | Tremont Mortgage Trust
Schedule of Equity Method Investments [Line Items]
Number of shares owned (in shares)	1,600,100
Ownership percentage	19.30%
RMR LLC | TA
Schedule of Equity Method Investments [Line Items]
Number of shares owned (in shares)	621,853
Ownership percentage	4.30%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 2,756	$ 3,724
Federal income tax expense	2,024	2,777
State income tax expense	$ 732	$ 947

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Rate (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income taxes computed at the federal statutory rate	21.00%	21.00%
State taxes, net of federal benefit	3.10%	3.60%
Permanent items	0.50%	0.20%
Net income attributable to noncontrolling interest	(10.10%)	(10.10%)
Other	(2.30%)	0.00%
Total	12.20%	14.70%
Reduction in provision for other adjustments	$ 520
Reduction in provision for other adjustments, impact on diluted earnings per share (in dollars per share)	$ 0.02

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Recurring basis - Level 1 - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Schedule of assets and liabilities measured at fair value
Money market funds included in cash and cash equivalents	$ 351,848	$ 341,612
Current portion of due from related parties related to share based payment awards	3,350	4,298
Long term portion of due from related parties related to share based payment awards	11,289	7,764
Current portion of employer compensation liability related to share based payment awards	3,350	4,298
Long term portion of employer compensation liability related to share based payment awards	$ 11,289	$ 7,764

Related Person Transactions - N

Related Person Transactions - Narrative (Details) - shares	Dec. 31, 2020	Jul. 28, 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	4.50%
RMRM
Related Party Transaction [Line Items]
Ownership percentage	2.30%
TRMT
Related Party Transaction [Line Items]
Ownership percentage	19.40%
Open End Fund
Related Party Transaction [Line Items]
Ownership percentage		100.00%
ABP Trust | AIC
Related Party Transaction [Line Items]
Ownership percentage			14.30%
ABP Trust | Class A Common Stock
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	157,502
ABP Trust | Class A Units
Related Party Transaction [Line Items]
Common stock shares outstanding (in shares)	15,000,000

Related Person Transactions - R

Related Person Transactions - Revenues from Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 156,687	$ 159,163
Revenue from unrelated parties	259	729
Revenue	156,946	159,892
Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	41,074	47,401
Revenue from unrelated parties	259	721
Revenue	41,333	48,122
Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	115,613	111,762
Revenue from unrelated parties	0	8
Revenue	115,613	111,770
Managed Equity REITs
Related Party Transaction [Line Items]
Revenue from related parties	141,294	143,905
Managed Equity REITs | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	33,280	39,365
Managed Equity REITs | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	108,014	104,540
DHC
Related Party Transaction [Line Items]
Revenue from related parties	51,206	43,557
DHC | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	8,922	9,955
DHC | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	42,284	33,602
ILPT
Related Party Transaction [Line Items]
Revenue from related parties	10,065	16,341
ILPT | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	4,874	5,574
ILPT | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	5,191	10,767
OPI
Related Party Transaction [Line Items]
Revenue from related parties	64,794	64,883
OPI | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	9,267	10,163
OPI | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	55,527	54,720
SVC
Related Party Transaction [Line Items]
Revenue from related parties	15,229	19,124
SVC | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	10,217	13,673
SVC | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	5,012	5,451
Managed REITs
Related Party Transaction [Line Items]
Revenue from related parties	142,846	145,413
Managed REITs | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	33,866	40,212
Managed REITs | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	108,980	105,201
RMRM
Related Party Transaction [Line Items]
Revenue from related parties	549	811
RMRM | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	549	811
RMRM | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	0	0
TRMT
Related Party Transaction [Line Items]
Revenue from related parties	1,003	697
TRMT | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	37	36
TRMT | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	966	661
Managed Private Real Estate Capital
Related Party Transaction [Line Items]
Revenue from related parties	7,822	7,404
Managed Private Real Estate Capital | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	1,570	1,063
Managed Private Real Estate Capital | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	6,252	6,341
ABP Trust
Related Party Transaction [Line Items]
Revenue from related parties	6,273	3,317
ABP Trust | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	1,056	223
ABP Trust | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	5,217	3,094
AIC
Related Party Transaction [Line Items]
Revenue from related parties	0	91
AIC | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	0	0
AIC | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	0	91
Industrial Fund
Related Party Transaction [Line Items]
Revenue from related parties	1,549	0
Industrial Fund | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	514	0
Industrial Fund | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	1,035	0
Open End Fund
Related Party Transaction [Line Items]
Revenue from related parties	0	3,996
Open End Fund | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	0	840
Open End Fund | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	0	3,156
Managed Operators
Related Party Transaction [Line Items]
Revenue from related parties	6,019	6,346
Managed Operators | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	5,638	6,126
Managed Operators | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	381	220
Five Star
Related Party Transaction [Line Items]
Revenue from related parties	2,046	2,276
Five Star | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	1,976	2,252
Five Star | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	70	24
Sonesta
Related Party Transaction [Line Items]
Revenue from related parties	353	625
Sonesta | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	353	579
Sonesta | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	0	46
TA
Related Party Transaction [Line Items]
Revenue from related parties	3,620	3,445
TA | Total management and advisory services revenues
Related Party Transaction [Line Items]
Revenue from related parties	3,309	3,295
TA | Total reimbursable costs
Related Party Transaction [Line Items]
Revenue from related parties	$ 311	$ 150

Related Person Transactions - A

Related Person Transactions - Amount Due from Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Related Party Transaction [Line Items]
Accounts receivable	$ 20,476	$ 22,228
Reimbursable costs	59,258	68,141
Total	79,734	90,369
Managed Equity REITs
Related Party Transaction [Line Items]
Accounts receivable	18,831	20,778
Reimbursable costs	51,771	64,681
Total	70,602	85,459
DHC
Related Party Transaction [Line Items]
Accounts receivable	5,180	5,548
Reimbursable costs	17,309	22,035
Total	22,489	27,583
ILPT
Related Party Transaction [Line Items]
Accounts receivable	2,314	3,089
Reimbursable costs	4,348	5,791
Total	6,662	8,880
OPI
Related Party Transaction [Line Items]
Accounts receivable	6,713	7,883
Reimbursable costs	24,899	30,529
Total	31,612	38,412
SVC
Related Party Transaction [Line Items]
Accounts receivable	4,624	4,258
Reimbursable costs	5,215	6,326
Total	9,839	10,584
Managed REITs
Related Party Transaction [Line Items]
Accounts receivable	18,861	20,797
Reimbursable costs	52,275	65,295
Total	71,136	86,092
RMRM
Related Party Transaction [Line Items]
Accounts receivable	26	0
Reimbursable costs	0	0
Total	26	0
TRMT
Related Party Transaction [Line Items]
Accounts receivable	4	19
Reimbursable costs	504	614
Total	508	633
Managed Private Real Estate Companies
Related Party Transaction [Line Items]
Accounts receivable	1,413	1,106
Reimbursable costs	2,912	2,364
Total	4,325	3,470
ABP Trust
Related Party Transaction [Line Items]
Accounts receivable	978	1,106
Reimbursable costs	2,393	2,364
Total	3,371	3,470
Industrial Fund
Related Party Transaction [Line Items]
Accounts receivable	435	0
Reimbursable costs	519	0
Total	954	0
Managed Operating Companies:
Related Party Transaction [Line Items]
Accounts receivable	202	325
Reimbursable costs	4,071	482
Total	4,273	807
Five Star
Related Party Transaction [Line Items]
Accounts receivable	96	149
Reimbursable costs	536	102
Total	632	251
TA
Related Party Transaction [Line Items]
Accounts receivable	106	176
Reimbursable costs	3,535	380
Total	$ 3,641	$ 556

Related Person Transactions - L

Related Person Transactions - Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
ABP Trust and Managed REIT
Related Party Transaction [Line Items]
Lease expense, rental expense	$ 1,383	$ 1,433

Related Person Transactions - T

Related Person Transactions - Tax Related Payments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 3,035	$ 4,163
ABP Trust | RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 2,820	3,830
ABP Trust | Up C Transaction
Related Party Transaction [Line Items]
Tax receivable agreement, percent of payment	85.00%
Liability related to tax receivable agreement	$ 29,950
Current portion of liability related to tax receivable agreement	2,161
ABP Trust and Managed REIT | RMR LLC
Related Party Transaction [Line Items]
Tax distributions	$ 5,855	$ 7,993

Related Person Transactions - S

Related Person Transactions - Separation Arrangements (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Related Party Transaction [Line Items]
Number of accelerated vesting shares (in shares)			14,420
Separation costs			$ 4,159	$ 260
Pension plan liability					$ 515
Former Executive Officer
Related Party Transaction [Line Items]
Cash separation costs			2,900	260
Equity based separation costs			295	0
Separation costs			3,195	260
Former Nonexecutive Officer
Related Party Transaction [Line Items]
Cash separation costs			805	0
Equity based separation costs			159	0
Separation costs			$ 964	$ 0
David M. Blackman
Related Party Transaction [Line Items]
Number of accelerated vesting shares (in shares)		9,400
David M. Blackman | Cash payment | Former Executive Officer | Forecast
Related Party Transaction [Line Items]
Related party transaction	$ 2,850

Shareholders_ Equity - Addition

Shareholders’ Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	Jan. 14, 2021USD ($)$ / sharesshares	Nov. 19, 2020USD ($)$ / shares	Nov. 14, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)vesting_installment$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2020shares
Class of Stock [Line Items]
Equity based compensation expense | $				$ 558	$ 634
Unvested shares outstanding (in shares) | shares				129,570
Number of accelerated vesting shares (in shares) | shares				14,420
RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares		$ 0.30	$ 0.30	$ 0.30	$ 0.30
Value of dividends | $		$ 9,419	$ 9,391	$ 9,419	$ 9,391
Vesting 2021
Class of Stock [Line Items]
Shares vesting (in shares) | shares				45,020
Vesting 2022
Class of Stock [Line Items]
Shares vesting (in shares) | shares				37,550
Vesting 2023
Class of Stock [Line Items]
Shares vesting (in shares) | shares				29,660
Vesting 2024
Class of Stock [Line Items]
Shares vesting (in shares) | shares				17,340
Class A Common Stock
Class of Stock [Line Items]
Common stock shares outstanding (in shares) | shares				15,395,641		15,395,641
Class A Common Stock | 2016 Omnibus Equity Plan [Member]
Class of Stock [Line Items]
Number of annual installments | vesting_installment				5
Class A Common Stock | ABP Trust
Class of Stock [Line Items]
Value of dividends | $		$ 4,500	$ 4,500	$ 4,500	$ 4,500
Common stock shares outstanding (in shares) | shares				15,000,000
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares		$ 0.38	$ 0.38	$ 0.38	$ 0.38
Value of dividends | $		$ 6,230	$ 6,195	$ 6,230	$ 6,195
Class A and B-1 common shares | RMR LLC
Class of Stock [Line Items]
Value of dividends | $		$ 4,919	$ 4,891	$ 4,919	$ 4,891
Subsequent Event | RMR LLC | RMR LLC
Class of Stock [Line Items]
Value of dividends | $	$ 9,419
Subsequent Event | Class A Common Stock | ABP Trust
Class of Stock [Line Items]
Value of dividends | $	$ 4,500
Subsequent Event | Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares	$ 0.38
Value of dividends | $	$ 6,230
Common stock shares outstanding (in shares) | shares	16,395,641
Subsequent Event | Class A and B-1 common shares | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share) | $ / shares	$ 0.30
Value of dividends | $	$ 4,919

Shareholders_ Equity - Distribu

Shareholders’ Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 19, 2020	Nov. 14, 2019	Dec. 31, 2020	Dec. 31, 2019
Class A and B-1 common shares
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.38	$ 0.38	$ 0.38	$ 0.38
Value of dividends	$ 6,230	$ 6,195	$ 6,230	$ 6,195
ABP Trust | Class A Common Stock
Class of Stock [Line Items]
Value of dividends	4,500	4,500	4,500	4,500
RMR LLC | Class A and B-1 common shares
Class of Stock [Line Items]
Value of dividends	$ 4,919	$ 4,891	$ 4,919	$ 4,891
RMR LLC | RMR LLC
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.30	$ 0.30	$ 0.30	$ 0.30
Value of dividends	$ 9,419	$ 9,391	$ 9,419	$ 9,391

Per Common Share Amounts - Addi

Per Common Share Amounts - Additional Information (Details) - Class A membership units shares in Millions	3 Months Ended
	Dec. 31, 2020shares
Class of Stock [Line Items]
Antidilutive securities (in shares)	15
Conversion ratio	1

Per Common Share Amounts - Sche

Per Common Share Amounts - Schedule of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Numerators:
Net income attributable to The RMR Group Inc.	$ 8,897	$ 9,449
Income attributable to unvested participating securities	(78)	(73)
Net income attributable to The RMR Group Inc. used in calculating basic EPS	8,819	9,376
Add back: net income attributable to noncontrolling interest	10,856	12,175
Add back: income tax expense	2,756	3,724
Income tax expense assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares	(6,515)
Net income attributable to The RMR Group Inc. used in calculating diluted EPS	$ 15,916	$ 9,376
Denominators:
Common stock shares outstanding (in shares)	16,396	16,302
Unvested participating securities (in shares)	(144)	(125)
Weighted average common shares outstanding - basic (in shares)	16,252	16,177
Assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares (in shares)	15,000	0
Weighted average common shares outstanding - diluted (in shares)	31,252	16,177
Net income attributable to The RMR Group Inc. per common share - basic (in dollars per share)	$ 0.54	$ 0.58
Net income attributable to The RMR Group Inc. per common share - diluted (in dollars per share)	$ 0.51	$ 0.58
Effective tax rate	29.00%

Net Income Attributable to RM_3

Net Income Attributable to RMR Inc. (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Income Attributable to RMR Inc.
Income before income tax expense	$ 22,509	$ 25,348
RMR Inc. franchise tax expense and interest income	212	56
Net income before noncontrolling interest	22,721	25,404
Net income attributable to noncontrolling interest	(10,856)	(12,175)
Net income attributable to RMR Inc. before income tax expense	11,865	13,229
Income tax expense attributable to RMR Inc.	(2,756)	(3,724)
RMR Inc. franchise tax expense and interest income	(212)	(56)
Net income attributable to The RMR Group Inc.	$ 8,897	$ 9,449

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting
Number of reportable business segments | segment	1	1
Revenues:
Total revenues	$ 156,946	$ 159,892
Expenses:
Compensation and benefits	29,494	30,197
Equity based compensation	3,561	1,582
Separation costs	4,159	260
Total compensation and benefits expense	37,214	32,039
General and administrative	6,260	7,046
Other client company reimbursable expenses	99,385	97,975
Transaction and acquisition related costs	117	796
Depreciation and amortization	238	256
Total expenses	143,214	138,112
Operating income (loss)	13,732	21,780
Interest and other income	231	1,875
Equity in earnings of investees	424	255
Unrealized (loss) gain on equity method investment accounted for under the fair value option	8,122	1,438
Income before income tax expense	22,509	25,348
Income tax expense	(2,756)	(3,724)
Net income	19,753	21,624
Total assets	698,393	705,130	$ 690,253
Total management and advisory services revenues
Revenues:
Total revenues	41,333	48,122
Management services
Revenues:
Total revenues	40,747	47,275
Advisory services
Revenues:
Total revenues	586	847
Total reimbursable costs
Revenues:
Total revenues	115,613	111,770
Reimbursable compensation and benefits
Revenues:
Total revenues	13,225	12,847
Reimbursable client company equity based compensation
Revenues:
Total revenues	3,003	948
Other client company reimbursable expenses
Revenues:
Total revenues	99,385	97,975
Operating Segments | RMR LLC
Revenues:
Total revenues	155,665	157,272
Expenses:
Compensation and benefits	27,869	27,275
Equity based compensation	3,517	1,567
Separation costs	4,159	260
Total compensation and benefits expense	35,545	29,102
General and administrative	5,253	6,125
Other client company reimbursable expenses	99,385	97,975
Transaction and acquisition related costs	68	49
Depreciation and amortization	227	244
Total expenses	140,478	133,495
Operating income (loss)	15,187	23,777
Interest and other income	218	1,720
Equity in earnings of investees	0	0
Unrealized (loss) gain on equity method investment accounted for under the fair value option	8,122	1,438
Income before income tax expense	23,527	26,935
Income tax expense	0	0
Net income	23,527	26,935
Total assets	651,689	654,196
Operating Segments | RMR LLC | Total management and advisory services revenues
Revenues:
Total revenues	40,488	46,595
Operating Segments | RMR LLC | Management services
Revenues:
Total revenues	40,488	46,595
Operating Segments | RMR LLC | Advisory services
Revenues:
Total revenues	0	0
Operating Segments | RMR LLC | Total reimbursable costs
Revenues:
Total revenues	115,177	110,677
Operating Segments | RMR LLC | Reimbursable compensation and benefits
Revenues:
Total revenues	12,789	11,754
Operating Segments | RMR LLC | Reimbursable client company equity based compensation
Revenues:
Total revenues	3,003	948
Operating Segments | RMR LLC | Other client company reimbursable expenses
Revenues:
Total revenues	99,385	97,975
All Other Operations
Revenues:
Total revenues	1,281	2,620
Expenses:
Compensation and benefits	1,625	2,922
Equity based compensation	44	15
Separation costs	0	0
Total compensation and benefits expense	1,669	2,937
General and administrative	1,007	921
Other client company reimbursable expenses	0	0
Transaction and acquisition related costs	49	747
Depreciation and amortization	11	12
Total expenses	2,736	4,617
Operating income (loss)	(1,455)	(1,997)
Interest and other income	13	155
Equity in earnings of investees	424	255
Unrealized (loss) gain on equity method investment accounted for under the fair value option	0	0
Income before income tax expense	(1,018)	(1,587)
Income tax expense	(2,756)	(3,724)
Net income	(3,774)	(5,311)
Total assets	46,704	50,934
All Other Operations | Total management and advisory services revenues
Revenues:
Total revenues	845	1,527
All Other Operations | Management services
Revenues:
Total revenues	259	680
All Other Operations | Advisory services
Revenues:
Total revenues	586	847
All Other Operations | Total reimbursable costs
Revenues:
Total revenues	436	1,093
All Other Operations | Reimbursable compensation and benefits
Revenues:
Total revenues	436	1,093
All Other Operations | Reimbursable client company equity based compensation
Revenues:
Total revenues	0	0
All Other Operations | Other client company reimbursable expenses
Revenues:
Total revenues	0	0
Intersegment Eliminations
Revenues:
Total revenues	$ (1,142)	$ (2,075)