Sun Communities (SUI) 10-Q 26 Apr 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	SUI
Entity Registrant Name	SUN COMMUNITIES INC
Entity Central Index Key	912,593
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	64,577,863
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Land	$ 456,380	$ 451,340
Land improvements and buildings	3,586,969	3,535,909
Rental homes and improvements	469,217	460,480
Furniture, fixtures and equipment	104,855	102,746
Land held for future development	23,047	23,047
Investment property	4,640,468	4,573,522
Accumulated depreciation	(889,941)	(852,407)
Investment property, net (including $91,246 and $92,009 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	3,750,527	3,721,115
Cash and cash equivalents	410,408	45,086
Inventory of manufactured homes	16,636	14,828
Notes and other receivables, net	54,124	47,972
Collateralized receivables, net	142,944	139,768
Other assets, net	188,247	213,030
TOTAL ASSETS	4,562,886	4,181,799
LIABILITIES
Mortgage loans payable (including $63,450 and $64,082 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	2,114,818	2,125,267
Secured borrowings on collateralized receivables	143,664	140,440
Preferred OP units - mandatorily redeemable	45,903	45,903
Lines of credit	58,065	24,687
Distributions payable	45,351	41,265
Other liabilities (including $4,213 and $4,091 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	184,102	184,859
TOTAL LIABILITIES	$ 2,591,903	$ 2,562,421
Commitments and contingencies
STOCKHOLDERS' EQUITY
Series A preferred stock, $0.01 par value. Issued and outstanding: 3,400 shares at March 31, 2016 and December 31, 2015	$ 34	$ 34
Common stock, $0.01 par value. Authorized: 180,000 shares; Issued and outstanding: 64,578 shares at March 31, 2016 and 58,395 shares at December 31, 2015	646	584
Additional paid-in capital	2,706,657	2,319,314
Distributions in excess of accumulated earnings	(896,896)	(864,122)
Total Sun Communities, Inc. stockholders' equity	1,810,441	1,455,810
Noncontrolling interests:
Common and preferred OP units	80,018	82,538
Consolidated variable interest entities	(1,970)	(1,767)
Total noncontrolling interests	78,048	80,771
TOTAL STOCKHOLDERS’ EQUITY	1,888,489	1,536,581
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	4,562,886	4,181,799
Series A-4 Preferred Stock [Member]
LIABILITIES
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	61,732	61,732
Series A-4 preferred OP units [Member]
LIABILITIES
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$ 20,762	$ 21,065

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Investment property, net	$ 3,750,527	$ 3,721,115
Secured debt	2,114,818	2,125,267
Other Liabilities	$ 184,102	$ 184,859
Series A Preferred Stock, Par Value	$ 0.01	$ 0.01
Series A Preferred Stock, Shares Issued	3,400	3,400
Series A Preferred Stock, Shares Outstanding	3,400	3,400
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	180,000	90,000
Common Stock, Shares Issued	54,546	48,573
Common Stock, Shares Outstanding	54,546	48,573
Series A-4 Preferred Stock [Member]
Series A-4 Preferred Stock, Par Value	$ 0.01	$ 0.01
Series A-4 Preferred Stock, Shares Issued	2,298	483
Series A-4 Preferred Stock, Shares Outstanding	2,298	483
Variable Interest Entity, Primary Beneficiary [Member]
Investment property, net	$ 91,246	$ 92,009
Secured debt	63,450	64,082
Other Liabilities	$ 4,213	$ 4,091

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES
Income from real property	$ 129,235	$ 119,525
Revenue from home sales	24,737	16,834
Rental home revenue	11,708	11,129
Ancillary revenues	4,613	3,191
Interest	3,945	3,984
Brokerage commissions and other income, net	406	537
Total revenues	174,644	155,200
COSTS AND EXPENSES
Property operating and maintenance	31,201	29,214
Real estate taxes	9,585	8,715
Cost of home sales	18,184	12,557
Rental home operating and maintenance	5,876	5,605
Ancillary expenses	3,508	2,546
Home selling expenses	2,278	1,690
General and administrative - real property	11,774	9,830
General and administrative - home sales and rentals	2,018	1,798
Transaction costs	2,721	9,449
Depreciation and amortization	48,412	44,001
Interest	26,294	25,389
Interest on mandatorily redeemable preferred OP units	787	852
Total expenses	162,638	151,646
Income before other gains	12,006	3,554
Gain on disposition of properties, net	0	8,769
Provision for income taxes	(228)	(75)
Net income	11,778	12,248
Less: Preferred return to preferred OP units	1,273	1,029
Less: Amounts attributable to noncontrolling interests	276	264
Net income attributable to Sun Communities, Inc.	10,229	10,955
Less: Preferred stock distributions	2,354	4,086
Net income attributable to Sun Communities, Inc. common stockholders	$ 7,875	$ 6,869
Weighted average common shares outstanding:
Basic	57,736	52,498
Diluted	58,126	52,892
Earnings per share:
Basic	$ 0.14	$ 0.13
Diluted	$ 0.14	$ 0.13

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income/comprehensive income	$ 11,778	$ 12,248
Less: Comprehensive income attributable to the noncontrolling interests	276	264
Comprehensive income attributable to Sun Communities, Inc.	$ 11,502	$ 11,984

Consolidated Statement Of Stock

Consolidated Statement Of Stockholders' Equity (Deficit) - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Earnings	Noncontrolling Interests	Total Stockholders' Equity (Deficit)	Series A Preferred Stock [Member]
Balance at Dec. 31, 2015	$ 1,536,581	$ 584	$ 2,319,314	$ (864,122)	$ 80,771	$ 1,536,581	$ 34
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of options, net		0	149	0	0	149	0
Issuance, conversion of OP units and associated costs of common stock, net		62	384,990	0	(108)	384,944	0
Share-based compensation - amortization and forfeitures		0	2,204	58	0	2,262	0
Net income	11,778	0	0	11,499	243	11,742	0
Distributions		0	0	(44,331)	(2,858)	(47,189)	0
Balance at Mar. 31, 2016	$ 1,888,489	$ 646	$ 2,706,657	$ (896,896)	$ 78,048	$ 1,888,489	$ 34

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net income/comprehensive income	$ 11,778	$ 12,248
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposition of assets	2,661	1,526
Gain on disposition of properties, net	0	(8,769)
Share-based compensation	2,262	1,475
Depreciation and amortization	47,594	43,454
Amortization of below market lease intangible	(1,350)	(1,051)
Amortization of debt premium intangible	(2,479)	(1,955)
Amortization of deferred financing costs	484	390
Change in notes receivable from financed sales of inventory homes, net of repayments	3,664	2,646
Change in inventory, other assets and other receivables, net	(1,229)	1,553
Change in other liabilities	191	(2,229)
NET CASH PROVIDED BY OPERATING ACTIVITIES	50,926	40,944
INVESTING ACTIVITIES:
Investment in properties	(48,220)	(40,339)
Acquisitions of properties	0	(148,620)
Payments for deposits on acquisitions	13	1,950
Proceeds related to disposition of assets and depreciated homes, net	2,847	1,343
Proceeds related to the disposition of properties	1,634	17,282
Issuance of notes and other receivables	1,746	40,206
Repayments of notes and other receivables	(248)	(320)
NET CASH USED FOR INVESTING ACTIVITIES	(45,250)	(212,170)
FINANCING ACTIVITIES:
Issuance and associated costs of common stock, OP units, and preferred OP units, net	384,915	33,618
Net proceeds from stock option exercise	149	71
Distributions to stockholders, OP unit holders, and preferred OP unit holders	(43,511)	(38,119)
Borrowings on lines of credit	44,820	4,863
Payments on lines of credit	(11,459)	(10,513)
Proceeds from issuance of other debt	8,096	255,136
Payments on other debt	(8,249)	(36,185)
Proceeds received from return of prepaid deferred financing costs	0	4,986
Payments for deferred financing costs	(15,115)	(1,209)
NET CASH PROVIDED BY FINANCING ACTIVITIES	359,646	212,648
Net change in cash and cash equivalents	365,322	41,422
Cash and cash equivalents, beginning of period	45,086	83,459
Cash and cash equivalents, end of period	410,408	124,881
SUPPLEMENTAL INFORMATION:
Cash paid for interest (net of capitalized interest of $101 and $124, respectively)	26,813	21,452
Cash paid for interest on mandatorily redeemable debt	787	855
Cash paid for income taxes	100	14
Noncash investing and financing activities:
Reduction in secured borrowing balance	4,872	3,936
Change in distributions declared and outstanding	3,984	3,457
Conversion Of Series A Four Preferred Stock	137	902
Noncash investing and financing activities at the date of acquisition:
Acquisitions - Series A-4 preferred OP units issued	0	1,000
Acquisitions - Series A-4 preferred stock issued	0	175,417
Acquisitions - Common stock and OP units issued	0	258,918
Stock Issued During Period, Value, New Issues, Series A-1 Preferred OP Units	37,750	4,221
Acquisitions - debt assumed	0	207,784
Noncash or Part Noncash Acquisition, Payables Assumed	$ 0	$ 2,377

Consolidated Statements Of Cas8

Consolidated Statements Of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Interest Costs Capitalized	$ 0	$ 124

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Sun Communities, Inc., a Maryland corporation, and all wholly-owned or majority-owned and controlled subsidiaries, including Sun Communities Operating Limited Partnership (the “Operating Partnership”), and Sun Home Services, Inc. (“SHS”) are referred to herein as the "Company," "us," "we," and "our". We follow accounting standards set by the Financial Accounting Standards Board ("FASB"). FASB sets generally accepted accounting principles ("GAAP"), which we follow to ensure that we consistently report our financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification. These unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and in accordance with GAAP. Pursuant to the SEC rules and regulations we present interim disclosures and certain information and footnote disclosures as required. Accordingly, the unaudited Consolidated Financial Statements do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying unaudited Consolidated Financial Statements reflect, in the opinion of management, all adjustments, including adjustments of a normal and recurring nature, necessary for a fair presentation of the interim financial statements. All intercompany transactions have been eliminated in consolidation. Certain reclassifications have been made to prior periods' financial statements in order to conform to current period presentation. The results of operations for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the SEC on February 23, 2016 (the “ 2015 Annual Report”). These statements have been prepared on a basis that is substantially consistent with the accounting principles applied in our 2015 Annual Report.

Real Estate Acquisitions and Di

Real Estate Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Real Estate Acquisitions and Dispositions	Real Estate Acquisitions Acquisitions On March 22, 2016, we and the Operating Partnership entered into a Stock Purchase Agreement with Carefree Communities Intermediate Holdings, L.L.C. (the “Seller”) with respect to the Operating Partnership’s acquisition from the Seller of all of the issued and outstanding shares of common stock of Carefree Communities Inc. (“Carefree Communities”). Carefree Communities directly or indirectly owns 103 manufactured home (“MH”) and recreational vehicle (“RV”) communities, comprising 9,829 developed manufactured home sites, 17,725 RV sites and approximately 396 additional manufactured home sites and approximately 2,586 additional RV sites suitable for development. We anticipate that the closing of the acquisition will occur no later than July 9, 2016. As of March 31, 2016, we have deposits of $15.1 million related to rate locks on potential debt instruments related to the Carefree acquisition. The consummation of the $1.7 billion acquisition is subject to customary closing conditions. As a result, there can be no assurances as to the actual closing or the timing of the closing. On March 30, 2016, we closed on an underwritten public offering of 6,037,500 shares of common stock at a price of $66.50 per share. The net proceeds from the offering of $385.4 million will be used to fund a portion of the purchase price for the acquisition of Carefree Communities. If for any reason the acquisition is not consummated, we intend to use the net proceeds of the offering to repay borrowings outstanding under the revolving loan under our senior credit facility, to fund possible future acquisitions of properties and for working capital and general corporate purposes. In March 2016, we acquired Hill Country Cottage and RV Resort ("Hill Country"), an RV resort with 353 sites located in New Braunfels, Texas. In March 2016, we acquired Kimberly Estates, an MH community with 387 sites located in Frenchtown Township, Michigan. The following tables summarize the amounts of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid for the acquisition completed in 2016 (in thousands): At Acquisition Date Hill Country (1) Kimberly Estates (1) Total Investment in property $ 29,990 $ 7,313 $ 37,303 Inventory of manufactured homes — 97 97 In-place leases and other intangible assets 10 340 350 Total identifiable assets acquired and liabilities assumed $ 30,000 $ 7,750 $ 37,750 Consideration Proceeds from prior dispositions held in escrow $ 30,000 $ 7,750 $ 37,750 (1) The purchase price allocations for Hill Country and Kimberly Estates are preliminary and may be adjusted as final costs and final valuations are determined. The amount of revenue and net income included in the Consolidated Statements of Operations for the three months ended March 31, 2016 related to the acquisitions completed in 2016 is set forth in the following table (in thousands): Three Months Ended March 31, 2016 (unaudited) Revenue $ 280 Net income $ 188 The following unaudited pro forma financial information presents the results of our operations for the three months ended March 31, 2016 and 2015 as if the properties were acquired on January 1, 2015. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees, and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2015 (in thousands, except per-share data). Three Months Ended March 31, (unaudited) 2016 2015 Total revenues $ 175,547 $ 156,498 Net income attributable to Sun Communities, Inc. common stockholders $ 8,243 $ 7,069 Net income per share attributable to Sun Communities, Inc. common stockholders - basic $ 0.16 $ 0.13 Net income per share attributable to Sun Communities, Inc. common stockholders - diluted $ 0.16 $ 0.13 Transaction costs of approximately $2.7 million and $9.4 million have been incurred for the three months ended March 31, 2016 and 2015 , respectively, and are presented as “Transaction costs” in our Consolidated Statements of Operations.

Collateralized Receivables and

Collateralized Receivables and Transfers of Financial Assets	3 Months Ended
	Mar. 31, 2016
Transfers and Servicing [Abstract]
Transfers Of Financial Assets	Transfers of Financial Assets We completed various transactions with an unrelated entity involving our notes receivable under which we received cash proceeds in exchange for relinquishing our right, title, and interest in certain notes receivable. We have no further obligations or rights with respect to the control, management, administration, servicing, or collection of the installment notes receivable. However, we are subject to certain recourse provisions requiring us to purchase the underlying homes collateralizing such notes, in the event of a note default and subsequent repossession of the home by the unrelated entity. The recourse provisions are considered to be a form of continuing involvement, and therefore these transferred loans did not meet the requirements for sale accounting. We continue to recognize these transferred loans on our balance sheet and refer to them as collateralized receivables. The proceeds from the transfer have been recognized as a secured borrowing. In the event of a note default and subsequent repossession of a manufactured home by the unrelated entity, the terms of the agreement require us to repurchase the manufactured home. Default is defined as the failure to repay the installment note receivable according to contractual terms. The repurchase price is calculated as a percentage of the outstanding principal balance of the collateralized receivable, plus any outstanding late fees, accrued interest, legal fees, and escrow advances associated with the installment note receivable. The percentage used to determine the repurchase price of the outstanding principal balance on the installment note receivable is based on the number of payments made on the note. In general, the repurchase price is determined as follows: Number of Payments Repurchase Percentage Fewer than or equal to 15 100 % Greater than 15 but less than 64 90 % Equal to or greater than 64 but less than 120 65 % 120 or more 50 % The transferred assets have been classified as "Collateralized Receivables," net and the cash proceeds received from these transactions have been classified as a "secured borrowing" on collaterized receivables within the Consolidated Balance Sheets. The balance of the collateralized receivables was $142.9 million (net of allowance of $0.7 million ) and $139.8 million (net of allowance of $0.7 million ) as of March 31, 2016 and December 31, 2015 , respectively. The receivables have a weighted average interest rate and maturity of 10.1% and 15.7 years as of March 31, 2016 , and 10.2% and 15.6 years as of December 31, 2015 . The outstanding balance on the secured borrowing was $143.7 million and $140.4 million as of March 31, 2016 and December 31, 2015 , respectively. The collateralized receivables earn interest income, and the secured borrowings accrue interest expense at the same interest rates. The amount of interest income and expense recognized was $3.4 million and $3.0 million for the three months ended March 31, 2016 and 2015 , respectively. The balances of the collateralized receivables and secured borrowings fluctuate. The balances increase as additional notes receivable are transferred and exchanged for cash proceeds. The balances are reduced as the related collateralized receivables are collected from the customers, or as the underlying collateral is repurchased. The change in the aggregate gross principal balance of the collateralized receivables is as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ 140,440 Financed sales of manufactured homes 8,095 Principal payments and payoffs from our customers (2,626 ) Principal reduction from repurchased homes (2,246 ) Total activity 3,223 Ending balance $ 143,663 The following table sets forth the allowance for the collateralized receivables as of March 31, 2016 (in thousands): Three Months Ended March 31, 2016 Beginning balance $ (672 ) Lower of cost or market write-downs 203 Increase to reserve balance (251 ) Total activity (48 ) Ending balance $ (720 )

Notes And Other Receivables

Notes And Other Receivables	3 Months Ended
	Mar. 31, 2016
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract]
Notes And Other Receivables	Notes and Other Receivables The following table sets forth certain information regarding notes and other receivables (in thousands): March 31, 2016 December 31, 2015 Installment notes receivable on manufactured homes, net $ 23,424 $ 20,418 Other receivables, net 30,700 27,554 Total notes and other receivables, net $ 54,124 $ 47,972 Installment Notes Receivable on Manufactured Homes The installment notes of $23.4 million (net of allowance of $0.2 million ) and $20.4 million (net of allowance of $0.2 million ) as of March 31, 2016 and December 31, 2015 , respectively, are collateralized by manufactured homes. The notes represent financing provided by us to purchasers of manufactured homes primarily located in our communities and require monthly principal and interest payments. The notes have a net weighted average interest rate (net of servicing costs) and maturity of 8.7% and 11.5 years as of March 31, 2016 , and 8.6% and 10.0 years as of December 31, 2015 . The change in the aggregate gross principal balance of the installment notes receivable is as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ 20,610 Financed sales of manufactured homes 4,359 Principal payments and payoffs from our customers (823 ) Principal reduction from repossessed homes (517 ) Total activity 3,019 Ending balance $ 23,629 Allowance for Losses for Installment Notes Receivable The following table sets forth the allowance change for the installment notes receivable as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ (192 ) Lower of cost or market write-downs 28 Increase to reserve balance (40 ) Total activity (12 ) Ending balance $ (204 ) Other Receivables As of March 31, 2016 , other receivables were comprised of amounts due from residents for rent, and water and sewer usage of $5.2 million (net of allowance of $(0.6) million ), home sale proceeds of $16.4 million , insurance receivables of $0.9 million , insurance settlement of $3.7 million , rebates and other receivables of $2.3 million and a note receivable of $2.2 million . The $2.2 million note bears interest at 8.0% for the first two years and in year three is indexed to 7.87% plus the one year Federal Reserve treasury constant maturity rate for the remainder of the loan. The note is secured by the senior mortgage on one MH community and a deed of land, and is due on December 31, 2016. As of December 31, 2015 , other receivables were comprised of amounts due from residents for rent, and water and sewer usage of $4.7 million (net of allowance of $0.9 million ), home sale proceeds of $10.5 million , insurance receivables of $1.2 million , insurance settlement of $3.7 million , rebates and other receivables of $5.3 million and a note receivable of $2.2 million .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Intangible Assets Our intangible assets include in-place leases from acquisitions, franchise fees, and other intangible assets. These intangible assets are recorded in "Other assets, net" on the Consolidated Balance Sheets. The gross carrying amounts, and accumulated amortization are as follows (in thousands): March 31, 2016 December 31, 2015 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization In-place leases 7 years $ 63,331 $ (22,398 ) $ 62,981 $ (20,245 ) Franchise fees and other intangible assets 15 years 1,864 (751 ) 1,864 (622 ) Total $ 65,195 $ (23,149 ) $ 64,845 $ (20,867 ) The aggregate net amortization expenses related to the intangible assets are as follows (in thousands): Three Months Ended March 31, Intangible Asset 2016 2015 In-place leases $ 2,153 $ 1,899 Franchise fees and other intangible assets 129 129 Total $ 2,282 $ 2,028

Investment In Affiliates

Investment In Affiliates	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment In Affiliates	Investment in Affiliates Origen Financial Services, LLC (“OFS LLC”) At March 31, 2016 and December 31, 2015 , we had a 22.9% ownership interest in OFS LLC, an entity formed to originate manufactured housing installment contracts. We have suspended equity accounting as the carrying value of our investment is zero . Origen Financial, Inc. (“Origen”) Through Sun OFI, LLC, a taxable REIT subsidiary, we own 5,000,000 shares of common stock in Origen, which approximates an ownership interest of 19.3% . We had suspended equity accounting for this investment as the carrying value of our investment was zero . In January 2015, Origen completed the sale of substantially all of its assets to an affiliate of GoldenTree Asset Management, LP and has announced its intention to dissolve and liquidate. During the second quarter of 2015, and as disclosed in a press release on March 30, 2015, Origen made an initial distribution of $1.50 per share to its stockholders of record as of April 13, 2015, retaining approximately $6.2 million for expected dissolution, wind down costs, expenses, and contingencies. Depending on the actual cost of estimated wind down expenses, Origen may make one or more additional interim distributions of excess cash to stockholders prior to completing liquidation. Upon completion of liquidation, Origen will distribute remaining cash, if any, to stockholders. During the second quarter of 2015, we received an initial distribution of $7.5 million from Origen. No distributions have been received in 2016.

Consolidated Variable Interest

Consolidated Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
DisclosureofVariableInterestEntities [Abstract]
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities In 2016, the Company adopted Accounting Standards Update (“ASU”) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . The Company evaluated the application of ASU No. 2015-02 and concluded that no change was required to its accounting of its interests in less than wholly owned joint ventures, however, the Operating Partnership now meets the criteria as a variable interest entity. The Company’s significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership. Other VIEs that are consolidated include Rudgate Village SPE, LLC, Rudgate Clinton SPE, LLC, Rudgate Clinton Estates SPE, LLC (the “Rudgate Borrowers”), and Wildwood Village Mobile Home Park ("Wildwood"). We evaluated our arrangements with these properties under the guidance set forth in FASB Accounting Standard Codification ("ASC") ASC Topic 810 " Consolidation ". We concluded that the Rudgate Borrowers and Wildwood qualify as VIEs as we are the primary beneficiary and hold controlling financial interests in these entities due to our power to direct the activities that most significantly impact the economic performance of the entities, as well as our obligation to absorb the most significant losses and our rights to receive significant benefits from these entities. As such, the transactions and accounts of these VIEs are included in the accompanying Consolidated Financial Statements. The following table summarizes the assets and liabilities included in our Consolidated Balance Sheets after appropriate eliminations have been made (in thousands): March 31, 2016 December 31, 2015 ASSETS Investment property, net $ 91,246 $ 92,009 Other assets 3,398 3,823 Total Assets $ 94,644 $ 95,832 LIABILITIES AND STOCKHOLDERS' EQUITY Debt $ 63,450 $ 64,082 Other liabilities 4,213 4,091 Noncontrolling interests (1,970 ) (1,767 ) Total Liabilities and Stockholders' Equity $ 65,693 $ 66,406 Investment property, net and other assets related to the consolidated VIEs comprised approximately 2.1% and 2.3% of our consolidated total assets at March 31, 2016 and December 31, 2015 , respectively. Debt and other liabilities comprised approximately 2.5% and 2.5% of our consolidated total liabilities at March 31, 2016 and December 31, 2015 , respectively. Noncontrolling interest related to the consolidated VIEs comprised less than 1.0% of our consolidated total equity at March 31, 2016 and December 31, 2015 .

Debt And Lines Of Credit

Debt And Lines Of Credit	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt and Lines of Credit The following table sets forth certain information regarding debt (in thousands): Principal Outstanding Weighted Average Years to Maturity Weighted Average Interest Rates March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Collateralized term loans - CMBS $ 636,824 $ 642,429 5.1 5.3 5.4 % 5.3 % Collateralized term loans - FNMA 784,598 791,304 5.6 5.8 4.7 % 4.6 % Collateralized term loans - Life Companies 497,161 502,555 14.1 14.4 4.1 % 4.1 % Collateralized term loans - FMCC 196,235 197,418 8.7 9.0 4.0 % 4.0 % Secured borrowing 143,664 140,440 15.7 15.6 10.1 % 10.2 % Preferred OP units - mandatorily redeemable 45,903 45,903 6.0 6.1 6.9 % 6.9 % Total debt $ 2,304,385 $ 2,320,049 8.2 8.4 5.1 % 5.0 % Collateralized Term Loans In March 2015, in relation to the acquisition of Meadowlands, we assumed a $6.3 million mortgage with an interest rate of 6.5% and a remaining term of 6.5 years . Also, in relation to this acquisition, we entered into a note payable with the seller for $2.4 million that bears no interest but is payable in three equal yearly installments beginning in March 2016. During the first quarter of 2016, we paid the first of the yearly installments of $0.8 million . The collateralized term loans totaling $2.2 billion as of March 31, 2016 , are secured by 160 properties comprised of 65,653 sites representing approximately $2.6 billion of net book value. Secured Borrowing See Note 3 , "Collateralized Receivables and Transfers of Financial Assets", for additional information regarding our collateralized receivables and secured borrowing transactions. Preferred OP Units Included in preferred OP units is $34.7 million of Aspen preferred OP units issued by the Operating Partnership which are convertible into 500,234 shares of our common stock. Subject to certain limitations, at any time prior to January 1, 2024, the holder of each Aspen preferred OP unit at its option may convert such Aspen preferred OP unit into: (a) if the market price of our common stock is $68.00 per share or less, 0.397 common OP units, or (b) if the market price of our common stock is greater than $68.00 per share, that the number of common OP units determined by dividing (i) the sum of (A) $27.00 plus (B) 25% of the amount by which the market price of our common stock exceeds $68.00 per share, by (ii) the per-share market price of our common stock. The current preferred distribution rate is 6.5% . On January 2, 2024, we are required to redeem all Aspen preferred OP units that have not been converted to common OP units. Lines of Credit In August, 2015, we amended and restated our senior revolving credit facility with Citibank, N.A. and certain other lenders in the amount of $450.0 million , comprised of a $392.0 million revolving loan and $58.0 million term loan (the "Facility"). The Facility has a four year term ending August 19, 2019 , which can be extended for two additional six-month periods at our option, subject to the satisfaction of certain conditions as defined in the credit agreement. The credit agreement also provides for, subject to the satisfaction of certain conditions, additional commitments in an amount not to exceed $300.0 million . If additional borrowings are made pursuant to any such additional commitments, the aggregate borrowing limit under the Facility may be increased up to $750.0 million . The Facility bears interest at a floating rate based on the Eurodollar rate plus a margin that is determined based on our leverage ratio calculated in accordance with the credit agreement, which can range from 1.40% to 2.25% for the revolving loan and 1.35% to 2.20% for the term loan. As of March 31, 2016 , the margin on our leverage ratio was 1.40% and 1.35% on the revolving and term loans, respectively. We had zero on the revolving loan and $58.0 million on the term loan totaling $58.0 million in borrowings as of March 31, 2016 , with a weighted average interest rate of 1.84% . As of December 31, 2015 we had no borrowings on the revolving loan and $25.0 million in borrowings on the term loan totaling $25.0 million in borrowings. The Facility provides us with the ability to issue letters of credit. Our issuance of letters of credit does not increase our borrowings outstanding under our line of credit, but does reduce the borrowing amount available. At March 31, 2016 and December 31, 2015 , approximately $2.8 million and $3.4 million , respectively, of availability was used to back standby letters of credit. We have a $12.0 million manufactured home floor plan facility renewable indefinitely until our lender provides us at least a twelve month notice of their intent to terminate the agreement. The interest rate is 100 basis points over the greater of the prime rate as quoted in the Wall Street Journal on the first business day of each month or 6.0% . At March 31, 2016 , the effective interest rate was 7.0% . At March 31, 2016 , there were approximately $0.4 million in borrowings and at December 31, 2015 there was no outstanding balance. Covenants Pursuant to the terms of the Facility, we are subject to various financial and other covenants. The most restrictive of our debt agreements place limitations on secured borrowings and contain minimum fixed charge coverage, leverage, distribution, and net worth requirements. At March 31, 2016 , we were in compliance with all covenants.

Equity Transactions

Equity Transactions	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Equity Transactions	Equity and Mezzanine Securities In March 2016, we closed an underwritten registered public offering of 6,037,500 shares of common stock at a price of $66.50 per share. Net proceeds from the offering were approximately $ 385.4 million after deducting discounts and expenses related to the offering. We intend to use the proceeds for the acquisition of Carefree Communities. If certain change of control transactions occur or if our common stock ceases to be listed or quoted on an exchange or quotation system, then at any time after November 26, 2019, we or the holders of shares of Series A-4 Preferred Stock and Series A-4 preferred OP units may cause all or any of those shares or units to be redeemed for cash at a redemption price equal to the sum of (i) the greater of (x) the amount that the redeemed shares of Series A-4 Preferred Stock and Series A-4 preferred OP units would have received in such transaction if they had been converted into shares of our common stock immediately prior to such transaction, or (y) $25.00 per share, plus (ii) any accrued and unpaid distributions thereon to, but not including, the redemption date. In November 2004, our Board of Directors authorized us to repurchase up to 1,000,000 shares of our common stock. We have 400,000 common shares remaining in the repurchase program. No common shares were repurchased under this buyback program during the three months ended March 31, 2016 or 2015 . There is no expiration date specified for the buyback program. Subject to certain limitations, common OP unit holders can convert their common OP units into an equivalent number of shares of common stock at any time. During the three months ended March 31, 2016 and 2015, there were 0 and 17,500 common OP units converted to shares of common stock, respectively. Subject to certain limitations, Series A-1 preferred OP unit holders may convert each Series A-1 preferred OP units to approximately 2.439 shares of our common stock at any time. During the three months ended March 31, 2016 and 2015, holders of Series A-1 preferred OP units converted 1,298 units into 3,165 shares of common stock, and 9,015 units into 21,985 shares of common stock, respectively. Subject to certain limitations, Series A-4 preferred OP unit holders may convert each Series A-4 preferred OP units to approximately 0.444 shares of our common stock at any time. During the three months ended March 31, 2016 , holders of Series A-4 preferred OP units converted 1,000 units into 444 shares of common stock. No such units were converted during the three months ended March 31, 2015 . Cash distributions of $0.65 per share were declared for the quarter ended March 31, 2016 . On April 15, 2016, cash payments of approximately $43.8 million for aggregate distributions were made to common stockholders, common OP unit holders and restricted stockholders of record as of March 31, 2016. Cash distributions of $0.4453 per share were declared on our Series A cumulative redeemable preferred stock for the quarter ended March 31, 2016 . On April 15, 2016, cash payments of approximately $1.5 million for aggregate distributions were made to Series A cumulative redeemable preferred stockholders of record as of April 1, 2016. In addition, cash distributions of $0.4062 per share were declared on our Series A-4 Preferred Stock for the quarter ended March 31, 2016 . On March 31, 2016, cash payments of approximately $0.8 million were made to Series A-4 Preferred Stock stockholders of record as of February 15, 2016.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation During the three months ending March 31, 2016, we granted 16,800 shares of restricted stock to our non-employee directors under our First Amended and Restated 2004 Non-Employee Director Option Plan. The awards vest on March 15, 2019, and had a fair value of $69.45 per share. The fair value was determined by using the closing share price of our common stock on the date the shares were issued. During the three months ending March 31, 2016, we granted 130,000 shares of restricted stock to our executive officers under the Sun Communities, Inc. 2015 Equity Incentive Plan. The shares had a fair value of $69.25 per share. Half of the shares will vest as follows: March 20, 2019: 20% ; March 20, 2020, 30% ; March 20, 2021, 35% ; March 20, 2022, 10% ; and March 20, 2023, 5% . The remaining 65,000 shares are subject to market and performance conditions with multiple tranches that vest through March 2022. Share-based compensation for restricted stock awards with performance conditions is measured based on an estimate of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. During the three months ended March 31, 2016 and 2015, 4,500 and 4,084 shares of common stock, respectively, were issued in connection with the exercise of stock options, and the net proceeds received during both periods was $0.1 million . The vesting requirements for 49,734 restricted shares granted to our executives and employees were satisfied during the three months ended March 31, 2016 .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We group our operating segments into reportable segments that provide similar products and services. Each operating segment has discrete financial information evaluated regularly by our chief operating decision maker in evaluating and assessing performance. We have two reportable segments: (i) Real Property Operations and (ii) Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops MH communities and RV communities and is in the business of acquiring, operating, and expanding MH and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of our communities. Transactions between our segments are eliminated in consolidation. Transient RV revenue is included in the Real Property Operations segment revenues and is expected to approximate $49.1 million annually. This transient RV revenue was recognized 20.7% in the first quarter and is expected to be recognized 20.9% , 45.0% and 13.4% in the second, third and fourth quarters, respectively. In 2015, transient revenue was $39.7 million . We recognized 22.5% in the first quarter, 17.7% in the second quarter, 45.2% in the third quarter, and 14.6% in the fourth quarter. A presentation of segment financial information is summarized as follows (amounts in thousands): Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues $ 133,848 $ 36,445 $ 170,293 $ 122,716 $ 27,963 $ 150,679 Operating expenses/Cost of sales 44,294 24,060 68,354 40,475 18,162 58,637 Net operating income/Gross profit 89,554 12,385 101,939 82,241 9,801 92,042 Adjustments to arrive at net income (loss): Interest and other income, net 4,351 — 4,351 4,521 — 4,521 Home selling expenses — (2,278 ) (2,278 ) — (1,690 ) (1,690 ) General and administrative (11,774 ) (2,018 ) (13,792 ) (9,830 ) (1,798 ) (11,628 ) Transaction costs (2,721 ) — (2,721 ) (9,449 ) — (9,449 ) Depreciation and amortization (35,362 ) (13,050 ) (48,412 ) (31,497 ) (12,504 ) (44,001 ) Interest (26,289 ) (5 ) (26,294 ) (25,387 ) (2 ) (25,389 ) Interest on mandatorily redeemable preferred OP units (787 ) — (787 ) (852 ) — (852 ) Gain on disposition of properties, net (25 ) 25 — 9,479 (710 ) 8,769 Provision for income taxes (187 ) (41 ) (228 ) (75 ) — (75 ) Net income (loss) 16,760 (4,982 ) 11,778 19,151 (6,903 ) 12,248 Less: Preferred return to preferred OP units 1,273 — 1,273 1,029 — 1,029 Less: Amounts attributable to noncontrolling interests 643 (367 ) 276 760 (496 ) 264 Net income (loss) attributable to Sun Communities, Inc. 14,844 (4,615 ) 10,229 17,362 (6,407 ) 10,955 Less: Preferred stock distributions 2,354 — 2,354 4,086 — 4,086 Net income (loss) attributable to Sun Communities, Inc. common stockholders $ 12,490 $ (4,615 ) $ 7,875 $ 13,276 $ (6,407 ) $ 6,869 March 31, 2016 December 31, 2015 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Identifiable assets: Investment property, net $ 3,326,090 $ 424,437 $ 3,750,527 $ 3,303,287 $ 417,828 $ 3,721,115 Cash and cash equivalents 404,310 6,098 410,408 44,150 936 45,086 Inventory of manufactured homes — 16,636 16,636 — 14,828 14,828 Notes and other receivables, net 37,319 16,805 54,124 34,258 13,714 47,972 Collateralized receivables, net 142,944 — 142,944 139,768 — 139,768 Other assets, net 184,636 3,611 188,247 209,957 3,073 213,030 Total assets $ 4,095,299 $ 467,587 $ 4,562,886 $ 3,731,420 $ 450,379 $ 4,181,799

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We have elected to be taxed as a real estate investment trust (“REIT”) pursuant to Section 856(c) of the Internal Revenue Code of 1986 (“Code”), as amended. In order for us to qualify as a REIT, at least 95% of our gross income in any year must be derived from qualifying sources. In addition, a REIT must distribute annually at least 90% of its REIT ordinary taxable income to its stockholders and meet other tests. Qualification as a REIT involves the satisfaction of numerous requirements (some on an annual and quarterly basis) established under highly technical and complex Code provisions for which there are only limited judicial or administrative interpretations, and involves the determination of various factual matters and circumstances not entirely within our control. In addition, frequent changes occur in the area of REIT taxation which requires us to continually monitor our tax status. We analyzed the various REIT tests and confirmed that we continued to qualify as a REIT for the quarter ended March 31, 2016 . As a REIT, we generally will not be subject to United States ("U.S.") federal income taxes at the corporate level on the ordinary taxable income we distribute to our stockholders as dividends. If we fail to qualify as a REIT in any taxable year, our taxable income could be subject to U.S. federal income tax at regular corporate rates (including any applicable alternative minimum tax). Even if we qualify as a REIT, we may be subject to certain state and local income taxes, U.S. federal income taxes and excise taxes on our undistributed income. SHS, our taxable REIT subsidiary, is subject to U.S. federal income taxes. Our deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Deferred tax assets are reduced, if necessary, by a valuation allowance to the amount where realization is more likely than not assured after considering all available evidence. Our temporary differences primarily relate to net operating loss carryforwards and depreciation. Full valuation allowances are recorded against SHS’s federal deferred tax assets and therefore, no federal deferred tax asset is included in "Other assets, net," in our Consolidated Balance Sheets as of March 31, 2016 and December 31, 2015. We had no unrecognized tax benefits as of March 31, 2016 and 2015 . We expect no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of March 31, 2016 . We classify certain state taxes as income taxes for financial reporting purposes. We recorded a provision for state income taxes of approximately $0.1 million and $0.1 million for the three months ended March 31, 2016 and 2015, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We have outstanding stock options, unvested restricted shares, Series A Preferred Stock, and Series A-4 Preferred Stock, and our Operating Partnership has outstanding common OP units, Series A-1 preferred OP units, Series A-3 preferred OP units, Series A-4 preferred OP units, Series C preferred OP units, and Aspen preferred OP Units, which, if converted or exercised, may impact dilution. Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): Three Months Ended March 31, Numerator 2016 2015 Net income attributable to common stockholders $ 7,875 $ 6,869 Allocation of income to restricted stock awards (61 ) (39 ) Net income attributable to common stockholders after allocation 7,814 6,830 Allocation of income to restricted stock awards 61 39 Diluted earnings: net income attributable to common stockholders after allocation $ 7,875 $ 6,869 Denominator Weighted average common shares outstanding 57,736 52,498 Add: dilutive stock options 13 16 Add: dilutive restricted stock 377 378 Diluted weighted average common shares and securities 58,126 52,892 Earnings per share available to common stockholders after allocation: Basic $ 0.14 $ 0.13 Diluted $ 0.14 $ 0.13 We excluded certain securities from the computation of diluted earnings per share because the inclusion of these securities would have been anti-dilutive for the periods presented. The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share for the three months ended March 31, 2016 and 2015 (amounts in thousands): Three Months Ended March 31, 2016 2015 Common OP units 2,863 2,544 Series A-1 preferred OP units 387 420 Series A-3 preferred OP units 40 40 Series A-4 preferred OP units 754 869 Series A-4 Preferred Stock 2,067 6,331 Series C preferred OP units 340 — Aspen preferred OP units 1,284 1,284 Total securities 7,735 11,488

Derivative Instruments And Hedg

Derivative Instruments And Hedging Activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments And Hedging Activities	Derivative Instruments and Hedging Activities Our objective in using interest rate derivatives is to manage exposure to interest rate movements thereby minimizing the effect of interest rate changes and the effect it could have on future cash flows. Interest rate caps are used to accomplish this objective. We do not enter into derivative instruments for speculative purposes nor do we have any swaps in a hedging arrangement. The following table provides the terms of our interest rate derivative contracts that were in effect as of March 31, 2016 : Type Purpose Effective Date Maturity Date Notional (in millions) Based on Variable Rate Fixed Rate Spread Effective Fixed Rate Cap Cap Floating Rate 4/1/2015 4/1/2018 $ 150.1 3 Month LIBOR 0.3240% 9.0000% —% N/A Cap Cap Floating Rate 10/3/2011 10/3/2016 $ 10.0 3 Month LIBOR 0.3240% 11.0200% —% N/A In accordance with ASC Topic 815, " Derivatives and Hedging " ("ASC 815"), derivative instruments are recorded at fair value in "Other assets, net" or "Other liabilities" on the Consolidated Balance Sheet. As of March 31, 2016 and December 31, 2015, the fair value of the derivatives was zero .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Of Financial Instruments	Fair Value of Financial Instruments Our financial instruments consist primarily of cash and cash equivalents, accounts and notes receivable, accounts payable, derivative instruments, and debt. ASC Topic 820 " Fair Value Measurements and Disclosures " ("ASC 820"), requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy under which these assets and liabilities must be grouped, based on significant levels of observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumption. This hierarchy requires the use of observable market data when available. These two types of inputs have created the following fair value hierarchy: Level 1—Quoted unadjusted prices for identical instruments in active markets. Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following methods and assumptions were used in order to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Derivative Instruments The derivative instruments held by us are interest rate cap agreements for which quoted market prices are indirectly available. For those derivatives, we use model-derived valuations in which all significant inputs and significant value drivers are observable in active markets provided by brokers or dealers to determine the fair value of derivative instruments on a recurring basis (Level 2). See Note 14 for Derivative Instruments. Installment Notes Receivable on Manufactured Homes The net carrying value of the installment notes receivable on manufactured homes estimates the fair value as the interest rates in the portfolio are comparable to current prevailing market rates (Level 2). See Note 4 for Installment Notes Receivable. Long-Term Debt and Lines of Credit The fair value of long-term debt (excluding the secured borrowing) is based on the estimates of management and on rates currently quoted, rates currently prevailing for comparable loans, and instruments of comparable maturities (Level 2). See Note 8 for Long-Term Debt and Lines of Credit. Collateralized Receivables and Secured Borrowings The fair value of these financial instruments offset each other as our collateralized receivables represent a transfer of financial assets and the cash proceeds received from these transactions have been classified as a secured borrowing on the Consolidated Balance Sheets. The net carrying value of the collateralized receivables estimates the fair value as the interest rates in the portfolio are comparable to current prevailing market rates (Level 2). See Note 3 for Collateralized Receivables and Secured Borrowing. Other Financial Instruments The carrying values of cash and cash equivalents, accounts receivable, and accounts payable approximate their fair market values due to the short-term nature of these instruments. The table below sets forth our financial assets and liabilities that required disclosure of their fair values on a recurring basis as of March 31, 2016 . The table presents the carrying values and fair values of our financial instruments as of March 31, 2016 and December 31, 2015 that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable because the carrying values associated with these instruments approximate fair value since their maturities are less than one year. March 31, 2016 December 31, 2015 Financial assets Carrying Value Fair Value Carrying Value Fair Value Installment notes receivable on manufactured homes, net $ 23,424 $ 23,424 $ 20,418 $ 20,418 Collateralized receivables, net $ 142,944 $ 142,944 $ 139,768 $ 139,768 Financial liabilities Debt (excluding secured borrowings) $ 2,160,721 $ 2,220,518 $ 2,179,609 $ 2,181,790 Secured borrowing $ 143,664 $ 143,664 $ 140,440 $ 140,440 Lines of credit $ 58,065 $ 58,055 $ 25,000 $ 25,000

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 " Leases (Topic 842)." The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases while the accounting by a lessor is largely unchanged from that applied under previous GAAP. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this new standard. In April 2015, the FASB issued ASU 2015-03 " Interest - Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs " ("ASU 2015-03"). This amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15 " Interest - Imputation of Interest (Subtopic 835-30) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements " ("ASU 2015-15"). This amendment provides additional guidance within ASU 2015-03 for debt issuance costs related to line of credit arrangements. These amendments are effective for fiscal years beginning after December 15, 2015, and interim periods within those years, with early adoption permitted. Entities should apply the amendments retrospectively. ASU 2015-15 provides commentary that the SEC staff would not object to an entity deferring and presenting costs associated with line of credit arrangements as an asset and subsequently amortizing them ratably over the term of the revolving debt arrangement. We adopted these amendments as of March 31, 2016, which resulted in a reclassifying of deferred financing costs of $8.2 million from "Other assets, net" to "Mortgage loans payable" on the Consolidated Balance Sheets as of March 31, 2015. The debt issuance costs related to our line of credit facility remain classified as an asset on the Consolidated Balance Sheets. This change was applied throughout this document where applicable. In February 2015, the FASB issued ASU No. 2015-02 " Consolidation (Topic 810) Amendments to the Consolidation Analysis " ("ASU 2015-02") which modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities. All entities are subject to reevaluation under the revised consolidation model. The Company is the sole general partner in a limited partnership, and as such, the Company has complete control in conducting all business activities associated with the Partnership. Limited partners do not have kickout rights or participating rights. The Company adopted ASU 2015-02 as of March 31, 2016 and fully consolidates the activities of the Operating Partnership within its Consolidated Financial Statements under the variable interest entity model as it is the primary beneficiary. There was no impact to the Consolidated Financial Statements as the Company previously consolidated under the voting interest entity model. In May 2014, the FASB issued ASU 2014-09 " Revenue from Contracts with Customers (Topic 606) " ("ASU 2014-09"). The objective of this amendment is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying this amendment, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. This amendment applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period; early adoption is not permitted. An entity should apply the amendments using either the full retrospective approach or retrospectively with a cumulative effect of initially applying the amendments recognized at the date of initial application. We are currently evaluating the methods of adoption and the impact that the adoption of ASU 2014-09 may have on our Consolidated Financial Statements.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies We are involved in various legal proceedings arising in the ordinary course of business. All such proceedings, taken together, are not expected to have a material adverse impact on our results of operations or financial condition.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Event	18. Subsequent Event

Real Estate Acquisitions and 27

Real Estate Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2016
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	The following tables summarize the amounts of the assets acquired and liabilities assumed at the acquisition dates and the consideration paid for the acquisition completed in 2016 (in thousands): At Acquisition Date Hill Country (1) Kimberly Estates (1) Total Investment in property $ 29,990 $ 7,313 $ 37,303 Inventory of manufactured homes — 97 97 In-place leases and other intangible assets 10 340 350 Total identifiable assets acquired and liabilities assumed $ 30,000 $ 7,750 $ 37,750 Consideration Proceeds from prior dispositions held in escrow $ 30,000 $ 7,750 $ 37,750
Schedule of Revenue and Net Income from Acquisitions	The amount of revenue and net income included in the Consolidated Statements of Operations for the three months ended March 31, 2016 related to the acquisitions completed in 2016 is set forth in the following table (in thousands): Three Months Ended March 31, 2016 (unaudited) Revenue $ 280 Net income $ 188
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information presents the results of our operations for the three months ended March 31, 2016 and 2015 as if the properties were acquired on January 1, 2015. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees, and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisitions been consummated on January 1, 2015 (in thousands, except per-share data). Three Months Ended March 31, (unaudited) 2016 2015 Total revenues $ 175,547 $ 156,498 Net income attributable to Sun Communities, Inc. common stockholders $ 8,243 $ 7,069 Net income per share attributable to Sun Communities, Inc. common stockholders - basic $ 0.16 $ 0.13 Net income per share attributable to Sun Communities, Inc. common stockholders - diluted $ 0.16 $ 0.13

Collateralized Receivables an28

Collateralized Receivables and Transfers of Financial Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase price percentage	In general, the repurchase price is determined as follows: Number of Payments Repurchase Percentage Fewer than or equal to 15 100 % Greater than 15 but less than 64 90 % Equal to or greater than 64 but less than 120 65 % 120 or more 50 %
Schedule of collateralized loans	The change in the aggregate gross principal balance of the collateralized receivables is as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ 140,440 Financed sales of manufactured homes 8,095 Principal payments and payoffs from our customers (2,626 ) Principal reduction from repurchased homes (2,246 ) Total activity 3,223 Ending balance $ 143,663
Collateralized Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for collateralized and installment notes receivable	The following table sets forth the allowance for the collateralized receivables as of March 31, 2016 (in thousands): Three Months Ended March 31, 2016 Beginning balance $ (672 ) Lower of cost or market write-downs 203 Increase to reserve balance (251 ) Total activity (48 ) Ending balance $ (720 )

Notes And Other Receivables (Ta

Notes And Other Receivables (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of notes and other receivables	The following table sets forth certain information regarding notes and other receivables (in thousands): March 31, 2016 December 31, 2015 Installment notes receivable on manufactured homes, net $ 23,424 $ 20,418 Other receivables, net 30,700 27,554 Total notes and other receivables, net $ 54,124 $ 47,972
Schedule of Installment Notes Receivable	The change in the aggregate gross principal balance of the installment notes receivable is as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ 20,610 Financed sales of manufactured homes 4,359 Principal payments and payoffs from our customers (823 ) Principal reduction from repossessed homes (517 ) Total activity 3,019 Ending balance $ 23,629
Installment Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for collateralized and installment notes receivable	The following table sets forth the allowance change for the installment notes receivable as follows (in thousands): Three Months Ended March 31, 2016 Beginning balance $ (192 ) Lower of cost or market write-downs 28 Increase to reserve balance (40 ) Total activity (12 ) Ending balance $ (204 )

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of Finite-Lived Intangible Assets	The gross carrying amounts, and accumulated amortization are as follows (in thousands): March 31, 2016 December 31, 2015 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization In-place leases 7 years $ 63,331 $ (22,398 ) $ 62,981 $ (20,245 ) Franchise fees and other intangible assets 15 years 1,864 (751 ) 1,864 (622 ) Total $ 65,195 $ (23,149 ) $ 64,845 $ (20,867 )
Schedule of Intangible Assets Amortization Expense	The aggregate net amortization expenses related to the intangible assets are as follows (in thousands): Three Months Ended March 31, Intangible Asset 2016 2015 In-place leases $ 2,153 $ 1,899 Franchise fees and other intangible assets 129 129 Total $ 2,282 $ 2,028

Consolidated Variable Interes31

Consolidated Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2016
DisclosureofVariableInterestEntities [Abstract]
Schedule of Variable Interest Entities	The following table summarizes the assets and liabilities included in our Consolidated Balance Sheets after appropriate eliminations have been made (in thousands): March 31, 2016 December 31, 2015 ASSETS Investment property, net $ 91,246 $ 92,009 Other assets 3,398 3,823 Total Assets $ 94,644 $ 95,832 LIABILITIES AND STOCKHOLDERS' EQUITY Debt $ 63,450 $ 64,082 Other liabilities 4,213 4,091 Noncontrolling interests (1,970 ) (1,767 ) Total Liabilities and Stockholders' Equity $ 65,693 $ 66,406

Debt And Lines Of Credit (Table

Debt And Lines Of Credit (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of debt and lines of credit [Table Text Block]	The following table sets forth certain information regarding debt (in thousands): Principal Outstanding Weighted Average Years to Maturity Weighted Average Interest Rates March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Collateralized term loans - CMBS $ 636,824 $ 642,429 5.1 5.3 5.4 % 5.3 % Collateralized term loans - FNMA 784,598 791,304 5.6 5.8 4.7 % 4.6 % Collateralized term loans - Life Companies 497,161 502,555 14.1 14.4 4.1 % 4.1 % Collateralized term loans - FMCC 196,235 197,418 8.7 9.0 4.0 % 4.0 % Secured borrowing 143,664 140,440 15.7 15.6 10.1 % 10.2 % Preferred OP units - mandatorily redeemable 45,903 45,903 6.0 6.1 6.9 % 6.9 % Total debt $ 2,304,385 $ 2,320,049 8.2 8.4 5.1 % 5.0 %

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, 2016 December 31, 2015 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Identifiable assets: Investment property, net $ 3,326,090 $ 424,437 $ 3,750,527 $ 3,303,287 $ 417,828 $ 3,721,115 Cash and cash equivalents 404,310 6,098 410,408 44,150 936 45,086 Inventory of manufactured homes — 16,636 16,636 — 14,828 14,828 Notes and other receivables, net 37,319 16,805 54,124 34,258 13,714 47,972 Collateralized receivables, net 142,944 — 142,944 139,768 — 139,768 Other assets, net 184,636 3,611 188,247 209,957 3,073 213,030 Total assets $ 4,095,299 $ 467,587 $ 4,562,886 $ 3,731,420 $ 450,379 $ 4,181,799
Schedule of Segment Reporting Information, by Segment [Table Text Block]	A presentation of segment financial information is summarized as follows (amounts in thousands): Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues $ 133,848 $ 36,445 $ 170,293 $ 122,716 $ 27,963 $ 150,679 Operating expenses/Cost of sales 44,294 24,060 68,354 40,475 18,162 58,637 Net operating income/Gross profit 89,554 12,385 101,939 82,241 9,801 92,042 Adjustments to arrive at net income (loss): Interest and other income, net 4,351 — 4,351 4,521 — 4,521 Home selling expenses — (2,278 ) (2,278 ) — (1,690 ) (1,690 ) General and administrative (11,774 ) (2,018 ) (13,792 ) (9,830 ) (1,798 ) (11,628 ) Transaction costs (2,721 ) — (2,721 ) (9,449 ) — (9,449 ) Depreciation and amortization (35,362 ) (13,050 ) (48,412 ) (31,497 ) (12,504 ) (44,001 ) Interest (26,289 ) (5 ) (26,294 ) (25,387 ) (2 ) (25,389 ) Interest on mandatorily redeemable preferred OP units (787 ) — (787 ) (852 ) — (852 ) Gain on disposition of properties, net (25 ) 25 — 9,479 (710 ) 8,769 Provision for income taxes (187 ) (41 ) (228 ) (75 ) — (75 ) Net income (loss) 16,760 (4,982 ) 11,778 19,151 (6,903 ) 12,248 Less: Preferred return to preferred OP units 1,273 — 1,273 1,029 — 1,029 Less: Amounts attributable to noncontrolling interests 643 (367 ) 276 760 (496 ) 264 Net income (loss) attributable to Sun Communities, Inc. 14,844 (4,615 ) 10,229 17,362 (6,407 ) 10,955 Less: Preferred stock distributions 2,354 — 2,354 4,086 — 4,086 Net income (loss) attributable to Sun Communities, Inc. common stockholders $ 12,490 $ (4,615 ) $ 7,875 $ 13,276 $ (6,407 ) $ 6,869

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): Three Months Ended March 31, Numerator 2016 2015 Net income attributable to common stockholders $ 7,875 $ 6,869 Allocation of income to restricted stock awards (61 ) (39 ) Net income attributable to common stockholders after allocation 7,814 6,830 Allocation of income to restricted stock awards 61 39 Diluted earnings: net income attributable to common stockholders after allocation $ 7,875 $ 6,869 Denominator Weighted average common shares outstanding 57,736 52,498 Add: dilutive stock options 13 16 Add: dilutive restricted stock 377 378 Diluted weighted average common shares and securities 58,126 52,892 Earnings per share available to common stockholders after allocation: Basic $ 0.14 $ 0.13 Diluted $ 0.14 $ 0.13
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	for the three months ended March 31, 2016 and 2015 (amounts in thousands): Three Months Ended March 31, 2016 2015 Common OP units 2,863 2,544 Series A-1 preferred OP units 387 420 Series A-3 preferred OP units 40 40 Series A-4 preferred OP units 754 869 Series A-4 Preferred Stock 2,067 6,331 Series C preferred OP units 340 — Aspen preferred OP units 1,284 1,284 Total securities 7,735 11,488

Derivative Instruments And He35

Derivative Instruments And Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments [Table Text Block]	The following table provides the terms of our interest rate derivative contracts that were in effect as of March 31, 2016 : Type Purpose Effective Date Maturity Date Notional (in millions) Based on Variable Rate Fixed Rate Spread Effective Fixed Rate Cap Cap Floating Rate 4/1/2015 4/1/2018 $ 150.1 3 Month LIBOR 0.3240% 9.0000% —% N/A Cap Cap Floating Rate 10/3/2011 10/3/2016 $ 10.0 3 Month LIBOR 0.3240% 11.0200% —% N/A

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The table below sets forth our financial assets and liabilities that required disclosure of their fair values on a recurring basis as of March 31, 2016 . The table presents the carrying values and fair values of our financial instruments as of March 31, 2016 and December 31, 2015 that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable because the carrying values associated with these instruments approximate fair value since their maturities are less than one year. March 31, 2016 December 31, 2015 Financial assets Carrying Value Fair Value Carrying Value Fair Value Installment notes receivable on manufactured homes, net $ 23,424 $ 23,424 $ 20,418 $ 20,418 Collateralized receivables, net $ 142,944 $ 142,944 $ 139,768 $ 139,768 Financial liabilities Debt (excluding secured borrowings) $ 2,160,721 $ 2,220,518 $ 2,179,609 $ 2,181,790 Secured borrowing $ 143,664 $ 143,664 $ 140,440 $ 140,440 Lines of credit $ 58,065 $ 58,055 $ 25,000 $ 25,000

Real Estate Acquisitions and 37

Real Estate Acquisitions and Dispositions Real Estate Acquisitions and Dispositions, Narrative (Details) $ / shares in Units, $ in Thousands	Mar. 30, 2016USD ($)$ / sharesshares	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Jul. 09, 2016USD ($)	Mar. 22, 2016	Mar. 19, 2015
Business Acquisition [Line Items]
New shares issued (in shares) | shares	6,037,500	6,037,500
Share Price | $ / shares	$ 66.50	$ 66.50
Proceeds from Issuance of Common Stock	$ 385,400	$ 385,400
Transaction costs		$ 2,721	$ 9,449
Carefree Communities [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property					2,586
Meadowlands [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property						353
Kimberly Estates [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property		387
Manufactured Home And Rv Community [Member] | Carefree Communities [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property					103
Manufactured home community [Member] | Carefree Communities [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property					9,829
RV Sites [Member] | Carefree Communities [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property					17,725
Manufactured Home and Recreational Vehicle Sites Suitable for Development [Member] | Carefree Communities [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property					396
Scenario, Forecast [Member] | Carefree Communities [Member]
Business Acquisition [Line Items]
Total consideration transferred				$ 1,700,000
Interest Rate Lock Commitments [Member]
Business Acquisition [Line Items]
Security Deposit Liability		$ 15,100

Real Estate Acquisitions, Sched

Real Estate Acquisitions, Schedule of Other Acquisitions Purchase Price Allocation (Details) $ in Thousands	Mar. 31, 2016USD ($)	Aug. 13, 2015USD ($)	Jul. 31, 2015USD ($)	Mar. 19, 2015
At acquistion date
Investment in property	$ 37,303
Inventory of manufactured homes	97
In-place leases and other intangible assets	350
Total identifiable assets acquired and liabilities assumed	37,750
Consideration
Proceeds from prior dispositions held in escrow	$ 37,750
Meadowlands [Member]
Business Acquisition [Line Items]
Number of Units in Real Estate Property				353
Fort Whaley [Member]
At acquistion date
Investment in property			$ 29,990
Inventory of manufactured homes			0
In-place leases and other intangible assets			10
Total identifiable assets acquired and liabilities assumed			30,000
Consideration
Proceeds from prior dispositions held in escrow			$ 30,000
Rock Crusher [Member]
At acquistion date
Investment in property		$ 7,313
Inventory of manufactured homes		97
In-place leases and other intangible assets		340
Total identifiable assets acquired and liabilities assumed		7,750
Consideration
Proceeds from prior dispositions held in escrow		$ 7,750

Real Estate Acquisitions, Sch39

Real Estate Acquisitions, Schedule of Revenue and Net Income from acquisitions (Details) - Series of Individually Immaterial Business Acquisitions [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Business Combination, Results of Operations [Line Items]
Revenue	$ 280
Net income	$ 188

Real Estate Acquisitions , Pro

Real Estate Acquisitions , Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combinations [Abstract]
Total revenues	$ 175,547	$ 156,498
Net income attributable to Sun Communities, Inc. common stockholders	$ 8,243	$ 7,069
Net income per share attributable to Sun Communities, Inc. common stockholders - basic	$ 0.16	$ 0.13
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted	$ 0.16	$ 0.13

Collateralized Receivables an41

Collateralized Receivables and Transfers of Financial Assets, Repurchase price percentage (Details) - Collateralized Receivables [Member]	3 Months Ended
	Mar. 31, 2016
Less than or equal to 15 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase Percentage	100.00%
Greater than 15 but less than 64 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase Percentage	90.00%
Equal to or greater than 64 but less than 120 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase Percentage	65.00%
120 or more [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase Percentage	50.00%

Collateralized Receivables an42

Collateralized Receivables and Transfers of Financial Assets, Schedule of collateralized loans (Details) - Collateralized Receivables [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 140,440
Financed sales of manufactured homes	8,095
Principal payments and payoffs from our customers	(2,626)
Principal reduction from repurchased homes	(2,246)
Total activity	3,223
Ending balance	$ 143,663

Collateralized Receivables an43

Collateralized Receivables and Transfers of Financial Assets Collateralized Receivables and Transfers of Financial Assets, Allowance for Collateralized Receivables (Details) - Collateralized Receivables [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ (672)
Lower of cost or market write-downs	203
Increase to reserve balance	(251)
Total activity	(48)
Ending balance	$ (720)

Collateralized Receivables an44

Collateralized Receivables and Transfers of Financial Assets, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes and other receivables, net	$ 54,124		$ 47,972
Secured debt	2,114,818		2,125,267
Interest income and expense, net	3,400	$ 3,000
Collateralized Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Allowance	$ 720		$ 672
Receivable With Imputed Interest, Term	15 years 8 months 12 days		15 years 7 months 6 days
Receivable with Imputed Interest, Effective Yield (Interest Rate)	10.10%		10.20%
Carrying Value [Member] | Secured Debt [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Secured debt	$ 143,664		$ 140,440
Carrying Value [Member] | Collateralized Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes and other receivables, net	$ 142,944		$ 139,768

Notes and Other Receivables, Sc

Notes and Other Receivables, Schedule of notes and other receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 54,124	$ 47,972
Other receivables, net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	30,700	27,554
Carrying Value [Member] | Installment notes receivable on manufactured homes, net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	23,424	20,418
Carrying Value [Member] | Collateralized Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 142,944	$ 139,768

Notes And Other Receivables Not

Notes And Other Receivables Notes and Other Receivables, Installment notes receivable on manufactured homes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Notes Receivable, Net	$ 54,124	$ 47,972
Installment notes receivable on manufactured homes, net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Allowance	$ 200	$ 200
Receivable with Imputed Interest, Effective Yield (Interest Rate)	8.70%	8.60%
Receivable With Imputed Interest, Term	11 years 6 months	9 years 11 months 27 days
Carrying Value [Member] | Installment notes receivable on manufactured homes, net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Notes Receivable, Net	$ 23,424	$ 20,418

Notes and Other Receivables, 47

Notes and Other Receivables, Schedule of installment notes receivable (Details) - Installment notes receivable on manufactured homes, gross [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 20,610
Financed sales of manufactured homes	4,359
Principal payments and payoffs from our customers	823
Principal reduction from repossessed homes	517
Total activity	3,019
Ending balance	$ 23,629

Notes and Other Receivables, Al

Notes and Other Receivables, Allowance for installment notes receivable (Details) - Collateralized receivables, net and Installment Notes Receivables on Manufactured Homes [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ (192)
Lower of cost or market write-downs	28
Increase to reserve balance	(40)
Total activity	(12)
Ending balance	$ (204)

Notes And Other Receivables N49

Notes And Other Receivables Notes and Other Receivables, Other receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other receivables for rent, water, sewer usage	$ 5.2	$ 4.7
Allowance for rent, water, sewer usage receivables	0.6	(0.9)
Home sale proceeds	16.4	10.5
Insurance receivables	0.9	1.2
Insurance Settlements Receivable	3.7	3.7
Premiums and Other Receivables, Net		5.3
Miscellaneous note receivable	2.2	$ 2.2
Other Receivables	$ 2.3
2014-2015 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Miscellaneous Note Receivable, Interest Rate	8.00%
2016 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Miscellaneous Note Receivable, Interest Rate	7.87%

Intangible Assets Intangible 50

Intangible Assets Intangible Assets, Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
In-place leases and other intangible assets	$ 350
Finite-Lived Intangible Assets, Gross	65,195	$ 64,845
Finite-Lived Intangible Assets, Accumulated Amortization	$ (23,149)	(20,867)
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Finite-Lived Intangible Assets, Gross	$ 63,331	62,981
Finite-Lived Intangible Assets, Accumulated Amortization	$ (22,398)	(20,245)
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Finite-Lived Intangible Assets, Gross	$ 1,864	1,864
Finite-Lived Intangible Assets, Accumulated Amortization	$ (751)	$ (622)

Intangible Assets Intangible 51

Intangible Assets Intangible Assets, Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 2,282	$ 2,028
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	2,153	1,899
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 129	$ 129

Investment In Affiliates , Narr

Investment In Affiliates , Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Distributions from affiliate	$ 7,500,000
Origen Financial Services [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	22.90%	22.90%
Investment carrying value	$ 0
Origen Financial [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	19.30%
Investment carrying value	$ 0
Investment owned (in shares)	5,000,000
Distribution per share	$ 1.50
Expected dissolution expenses of Equity Method Investee	$ 6,200,000

Consolidated Variable Interes53

Consolidated Variable Interest Entities, Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Investment property, net	$ 3,750,527	$ 3,721,115
Other assets, net	188,247	213,030
Mortgage loans payable (including $63,450 and $64,082 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	2,114,818	2,125,267
Other liabilities (including $4,213 and $4,091 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	184,102	184,859
Consolidated variable interest entities	$ (1,970)	$ (1,767)
VIE as a Percentage of Consolidated Assets	2.10%	2.30%
VIE as a Percentage of Consolidated Liabilities	2.50%	2.50%
VIE as a Percentage of Total Equity	1.00%	1.00%
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investment property, net	$ 91,246	$ 92,009
Other assets, net	3,398	3,823
Total Assets	94,644	95,832
Mortgage loans payable (including $63,450 and $64,082 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	63,450	64,082
Other liabilities (including $4,213 and $4,091 for consolidated variable interest entities at March 31, 2016 and December 31, 2015; see Note 7)	4,213	4,091
Total Liabilities and Stockholder's Equity	$ 65,693	$ 66,406

Debt And Lines Of Credit , Sche

Debt And Lines Of Credit , Schedule of debt and lines of credit (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Secured debt	$ 2,114,818	$ 2,125,267
Debt weighted average to maturity, years	8 years 2 months 12 days	8 years 4 months 24 days
Weighted average interest rate	5.10%	5.00%
Total debt	$ 2,304,385	$ 2,320,049
Collateralized term loans - CMBS [Member]
Debt Instrument [Line Items]
Secured debt	$ 636,824	$ 642,429
Debt weighted average to maturity, years	5 years 1 month 6 days	5 years 3 months 18 days
Weighted average interest rate	5.40%	5.30%
Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Secured debt	$ 2,200,000
Preferred OP units [Member]
Debt Instrument [Line Items]
Secured debt	$ 45,903	$ 45,903
Debt weighted average to maturity, years	6 years	6 years 1 month 6 days
Weighted average interest rate	6.90%	6.90%
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member]
Debt Instrument [Line Items]
Secured debt	$ 784,598	$ 791,304
Debt weighted average to maturity, years	5 years 7 months 6 days	5 years 9 months 18 days
Weighted average interest rate	4.70%	4.60%
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member]
Debt Instrument [Line Items]
Secured debt	$ 196,235	$ 197,418
Debt weighted average to maturity, years	8 years 8 months 12 days
Weighted average interest rate	4.00%	4.00%
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Collateralized term loans - CMBS [Member]
Debt Instrument [Line Items]
Debt weighted average to maturity, years		9 years
Life Companies [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Secured debt	$ 497,161	$ 502,555
Debt weighted average to maturity, years	14 years 1 month 6 days	14 years 4 months 24 days
Weighted average interest rate	4.10%	4.10%
Carrying Value [Member] | Secured borrowing [Member]
Debt Instrument [Line Items]
Secured debt	$ 143,664	$ 140,440
Debt weighted average to maturity, years	15 years 8 months 12 days	15 years 7 months 6 days
Weighted average interest rate	10.10%	10.20%

Debt And Lines Of Credit , Narr

Debt And Lines Of Credit , Narrative - Collateralized Term Loans (Details) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)propertiessitesRate	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)Rate	Mar. 19, 2015
Debt Instrument [Line Items]
Acquisitions - debt assumed		$ 0	$ 207,784
Weighted average interest rate | Rate		5.10%		5.00%
Debt weighted average to maturity, length		8 years 2 months 12 days		8 years 4 months 24 days
Total debt		$ 2,114,818		$ 2,125,267
Commercial Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Weighted average interest rate | Rate		5.40%		5.30%
Debt weighted average to maturity, length		5 years 1 month 6 days		5 years 3 months 18 days
Total debt		$ 636,824		$ 642,429
Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Net book value of properties securing collateralized term loans		2,600,000
Total debt		$ 2,200,000
Properties securing debt [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Number of properties securing a debt instument (in properties) | properties		160
Number of Units in Real Estate Property | sites		65,653
Meadowlands [Member]
Debt Instrument [Line Items]
Number of Units in Real Estate Property					353
Note receivable related to acquistion	$ 2,400		$ 2,400
Repayments of Notes Payable		$ 800
Meadowlands [Member] | Commercial Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Acquisitions - debt assumed	$ 6,300
Meadowlands [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Debt Instrument, Term	6 years 6 months
Debt Instrument, Interest Rate, Stated Percentage	6.50%		6.50%

Debt And Lines Of Credit , Na56

Debt And Lines Of Credit , Narrative - Aspen Preferred OP Units and Series B-3 preferred OP units (Details) - Preferred OP units [Member] - Convertible debt - Aspen Preferred OP Units January 2024 [Member] $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)sharesRate
Debt Instrument [Line Items]
Debt Instrument, Face Amount | $	$ 34.7
Convertible units to shares (in shares) | shares	500,234
Debt Instrument, Interest Rate During Period | Rate	6.50%

Debt And Lines Of Credit , Na57

Debt And Lines Of Credit , Narrative - Line of Credit (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Lines of credit	$ 58,065	$ 24,687
Weighted average interest rate	5.10%	5.00%
Debt weighted average to maturity, length	8 years 2 months 12 days	8 years 4 months 24 days
Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 450,000
Line of credit, borrowing capacity	$ 750,000
Debt Instrument, Maturity Date	Aug. 19, 2019
Line of credit, additional borrowing capacity	$ 300,000
Debt Instrument, Interest Rate, Effective Percentage	1.84%
Lines of credit	$ 58,000	$ 25,000
Letters of credit outstanding, amount	2,800	$ 3,400
Line of credit - manufactured home floor plan facility [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity	12,000
Lines of credit	$ 400
Weighted average interest rate	7.00%
Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member]
Line of Credit Facility [Line Items]
Effective interest rate, maximum	6.00%
Basis points	100.00%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity	$ 392,000
Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Effective interest rate, minimum	1.40%
Effective interest rate, maximum	2.25%
Line of credit variable interest rate	1.40%
Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity	$ 58,000
Term Loan [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Lines of credit	$ 58,000
Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Effective interest rate, minimum	1.35%
Effective interest rate, maximum	2.20%
Line of credit variable interest rate	1.35%

Equity Transactions Narrative (

Equity Transactions Narrative (Details) $ / shares in Units, $ in Thousands	Apr. 15, 2016USD ($)	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 30, 2016$ / sharesshares	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)shares	Dec. 31, 2015USD ($)$ / sharesshares	Nov. 30, 2004shares
Class of Stock [Line Items]
Common Stock, Shares Authorized		180,000,000		180,000,000		90,000,000
Common Stock, Par Value | $ / shares		$ 0.01		$ 0.01		$ 0.01
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 0.01		$ 0.01		$ 0.01
Preferred Stock, Shares Outstanding		3,400,000		3,400,000		3,400,000
New shares issued (in shares)			6,037,500	6,037,500
Proceeds from prior dispositions held in escrow | $		$ 37,750		$ 37,750
Issuance and associated costs of common stock, OP units, and preferred OP units, net | $				$ 384,915	$ 33,618
Temporary Equity, Redemption Price Per Share | $ / shares		$ 25		$ 25
Share Price | $ / shares		$ 66.50	$ 66.50	66.50
Series A-4 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared | $ / shares				$ 0.4062
Dividends, Preferred Stock, Cash | $		$ 800
Series A-4 Preferred Stock | $		61,732		$ 61,732		$ 61,732
Common Stock
Class of Stock [Line Items]
Dividends per common share: | $ / shares				$ 0.65
Common Stock | Dividend Paid [Member]
Class of Stock [Line Items]
Dividends, Common Stock, Cash | $	$ 43,800
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared | $ / shares				$ 0.4453
Preferred Stock [Member] | Dividend Paid [Member]
Class of Stock [Line Items]
Dividends, Preferred Stock, Cash | $	$ 1,500
Series A-4 preferred OP units [Member]
Class of Stock [Line Items]
Series A-4 Preferred Stock | $		$ 20,762		$ 20,762		$ 21,065
Series A-4 preferred OP units [Member]
Class of Stock [Line Items]
Debt Instrument, Convertible, Conversion Ratio				0.444
Conversion of Common OP Units to common stock (in shares)				1,000
Series A-4 preferred OP units [Member] | Common OP Units [Member]
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)				444
Repurchase Agreements [Member] | Common Stock
Class of Stock [Line Items]
Authorized to be repurchased (in shares)							1,000,000
Remaining number of shares authorized to be repurchased (in shares)		400,000		400,000
Stock Repurchased During Period, Shares				0		0
Conversion of Common OP Units [Member] | Common OP Units [Member]
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)				0	17,500
Series A-1 Preferred OP Units [Member]
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)				1,298	9,015
Series A-1 Preferred OP Units [Member] | Common OP Units [Member]
Class of Stock [Line Items]
Debt Instrument, Convertible, Conversion Ratio				2.439
Conversion of Common OP Units to common stock (in shares)				3,165	21,985

Share-Based Compensation , Narr

Share-Based Compensation , Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock option exercise	$ 149	$ 71
2004 non-employee plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercises in period	4,500	4,084
Proceeds from stock option exercise	$ 100	$ 100
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 69.25
Vested restricted stock (in shares)	49,734
Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	130,000
Director [Member] | Restricted Stock [Member] | Director Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	16,800
Weighted average grant date fair value	$ 69.45
Third Anniversary | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20.00%
Fourth Anniversary | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	30.00%
Fifth Anniversary | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	35.00%
Sixth Anniversary | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	10.00%
Seventh Anniversary | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	5.00%
Subject to Performance Conditions Over 5 years | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	65,000

Segment Reporting Segment Repor

Segment Reporting Segment Reporting, Seasonality (Details) - Real Property Operations Segment [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Segment Reporting Information [Line Items]
Expected Annual Transient RV Revenue				$ 49.1	$ 39.7
Transient RV Rental Revenue Recognized, Percentage					14.60%	45.20%	17.70%	22.50%
Scenario, Actual [Member]
Segment Reporting Information [Line Items]
Transient RV Rental Revenue Recognized, Percentage				20.70%
Scenario, Forecast [Member]
Segment Reporting Information [Line Items]
Transient RV Rental Revenue Recognized, Percentage	13.40%	45.00%	20.90%

Segment Reporting Results of Op

Segment Reporting Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 170,293	$ 150,679
Operating Expenses/Cost of Sales	68,354	58,637
Net operating income/Gross Profit	101,939	92,042
Ancillary, interest and other income, net	4,351	4,521
Selling Expense	(2,278)	(1,690)
General and Administrative Expense	(13,792)	(11,628)
Transaction costs	(2,721)	(9,449)
Depreciation and amortization	(48,412)	(44,001)
Interest	(26,294)	(25,389)
Interest on mandatorily redeemable debt	(787)	(852)
Gain (loss) on dispositions of properties, net	0	8,769
State and Local Income Tax Expense (Benefit), Continuing Operations	228	75
Provision for state income taxes	(228)	(75)
Net income	11,778	12,248
Less: Preferred return to Series A-1 preferred OP units	1,273	1,029
Less: Amounts attributable to noncontrolling interests	276	264
Net income attributable to Sun Communities, Inc.	10,229	10,955
Less: Preferred stock distributions	2,354	4,086
Net income attributable to Sun Communities, Inc. common stockholders	7,875	6,869
Real Property Operations Segment [Member]
Segment Reporting Information [Line Items]
Revenues	133,848	122,716
Operating Expenses/Cost of Sales	44,294	40,475
Net operating income/Gross Profit	89,554	82,241
Ancillary, interest and other income, net	4,351	4,521
Selling Expense	0	0
General and Administrative Expense	(11,774)	(9,830)
Transaction costs	(2,721)	(9,449)
Depreciation and amortization	(35,362)	(31,497)
Interest	(26,289)	(25,387)
Interest on mandatorily redeemable debt	(787)	(852)
Gain (loss) on dispositions of properties, net	(25)	9,479
State and Local Income Tax Expense (Benefit), Continuing Operations	187
Provision for state income taxes		(75)
Net income	16,760	19,151
Less: Preferred return to Series A-1 preferred OP units	1,273	1,029
Less: Amounts attributable to noncontrolling interests	643	760
Net income attributable to Sun Communities, Inc.	14,844	17,362
Less: Preferred stock distributions	2,354	4,086
Net income attributable to Sun Communities, Inc. common stockholders	12,490	13,276
Home Sales and Home Rentals Segment [Member]
Segment Reporting Information [Line Items]
Revenues	36,445	27,963
Operating Expenses/Cost of Sales	24,060	18,162
Net operating income/Gross Profit	12,385	9,801
Ancillary, interest and other income, net	0	0
Selling Expense	(2,278)	(1,690)
General and Administrative Expense	(2,018)	(1,798)
Transaction costs	0	0
Depreciation and amortization	(13,050)	(12,504)
Interest	(5)	(2)
Interest on mandatorily redeemable debt	0	0
Gain (loss) on dispositions of properties, net	25	(710)
State and Local Income Tax Expense (Benefit), Continuing Operations	41
Provision for state income taxes		0
Net income	(4,982)	(6,903)
Less: Preferred return to Series A-1 preferred OP units	0	0
Less: Amounts attributable to noncontrolling interests	(367)	(496)
Net income attributable to Sun Communities, Inc.	(4,615)	(6,407)
Less: Preferred stock distributions	0	0
Net income attributable to Sun Communities, Inc. common stockholders	$ (4,615)	$ (6,407)

Segment Reporting Identifiable

Segment Reporting Identifiable Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	$ 3,750,527	$ 3,721,115
Cash and cash equivalents	410,408	45,086	$ 124,881	$ 83,459
Inventory of manufactured homes	16,636	14,828
Notes and other receivables, net	54,124	47,972
Collateralized receivables, net	142,944	139,768
Other assets	188,247	213,030
TOTAL ASSETS	4,562,886	4,181,799
Real Property Operations Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	3,326,090	3,303,287
Cash and cash equivalents	404,310	44,150
Inventory of manufactured homes	0	0
Notes and other receivables, net	37,319	34,258
Collateralized receivables, net	142,944	139,768
Other assets	184,636	209,957
TOTAL ASSETS	4,095,299	3,731,420
Home Sales and Home Rentals Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	424,437	417,828
Cash and cash equivalents	6,098	936
Inventory of manufactured homes	16,636	14,828
Notes and other receivables, net	16,805	13,714
Collateralized receivables, net	0	0
Other assets	3,611	3,073
TOTAL ASSETS	$ 467,587	$ 450,379

Income Taxes , Narrative (Detai

Income Taxes , Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Minimum Percent of Income From Qualifying Sources to Allow For Real Estate Investment Trust Classification	95.00%
Required Minimum Percent of Taxable Income Distributed to Stock Holders	90.00%
Provision for state income taxes	$ 0.1	$ 0.1

Earnings Per Share , Calculatio

Earnings Per Share , Calculation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator
Net income attributable to Sun Communities, Inc. common stockholders	$ 7,875	$ 6,869
Income (loss) Attributable to Common Stockholders Allocable To Non Vested Restricted Shares	(61)	(39)
Net income attributable to common shareholders after restricted stock allocation	7,814	6,830
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	61	39
Diluted earnings: net income available to common stockholders and unitholders	$ 7,875	$ 6,869
Denominator
Basic Weighted average common shares outstanding	57,736	52,498
Add: dilutive securities	13	16
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	377	378
Diluted weighted average common shares	58,126	52,892
Basic	$ 0.14	$ 0.13
Diluted	$ 0.14	$ 0.13

Earnings Per Share , Antidiluti

Earnings Per Share , Antidilutive Securities Excluded from Computation of Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,735	11,488
Common OP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,863	2,544
Series A-1 Preferred OP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	387	420
Series A-3 Preferred OP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	40	40
Series A-4 preferred OP units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	754	869
Series A-4 Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,067	6,331
Series C preferred OP units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	340	0
Aspen Preferred OP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,284	1,284

Derivative Instruments And He66

Derivative Instruments And Hedging Activities , Derivative Contracts (Details) - Interest Rate Cap [Member] $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Derivative maturing 2018 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Type	Cap
Derivative, Purpose	Cap Floating Rate
Derivative, Effective Date	Apr. 1, 2015
Derivative, Maturity Date	Apr. 1, 2018
Notional Amount of Derivatives	$ 150.1
Derivative, Variable Rate	0.324%
Derivative, Fixed Rate	9.00%
Derivative, Spread on Variable Rate	0.00%
Derivative Maturing 2016 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Type	Cap
Derivative, Purpose	Cap Floating Rate
Derivative, Effective Date	Oct. 3, 2011
Derivative, Maturity Date	Oct. 3, 2016
Notional Amount of Derivatives	$ 10
Derivative, Variable Rate	0.324%
Derivative, Fixed Rate	11.02%
Derivative, Spread on Variable Rate	0.00%

Fair Value of Financial Instr67

Fair Value of Financial Instruments , By Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial assets
Notes and other receivables, net	$ 54,124	$ 47,972
Financial liabilities
Secured debt	2,114,818	2,125,267
Carrying Value [Member]
Financial liabilities
Debt (excluding secured borrowings)	2,160,721	2,179,609
Lines of credit	58,065	25,000
Carrying Value [Member] | Installment notes receivable on manufactured homes, net [Member]
Financial assets
Notes and other receivables, net	23,424	20,418
Carrying Value [Member] | Collateralized Receivables [Member]
Financial assets
Notes and other receivables, net	142,944	139,768
Carrying Value [Member] | Secured Debt [Member]
Financial liabilities
Secured debt	143,664	140,440
Fair Value [Member] | Fair Value, Measurements, Recurring [Member]
Financial liabilities
Debt (excluding secured borrowings)	2,220,518	2,181,790
Secured debt	143,664	140,440
Lines of credit	58,055	25,000
Fair Value [Member] | Installment notes receivable on manufactured homes, net [Member] | Fair Value, Measurements, Recurring [Member]
Financial assets
Receivables	23,424	20,418
Fair Value [Member] | Collateralized Receivables [Member] | Fair Value, Measurements, Recurring [Member]
Financial assets
Receivables	$ 142,944	$ 139,768