Sun Communities (SUI) 10-Q 27 Apr 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Apr. 20, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Entity Current Reporting Status	Yes
Entity Incorporation, State or Country Code	MD
Title of 12(b) Security	Common Stock, $0.01 par value
Document Transition Report	false
Entity File Number	1-12616
Trading Symbol	SUI
Entity Registrant Name	SUN COMMUNITIES INC
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding			111,828,638
Entity Emerging Growth Company	false
Entity Small Business	false
Security Exchange Name	NYSE
Entity Tax Identification Number	38-2730780
Entity Address, Address Line One	27777 Franklin Rd,
Entity Address, Address Line Two	Suite 200,
Entity Address, City or Town	Southfield,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48034
Entity Interactive Data Current	Yes
Entity Shell Company	false
City Area Code	248
Local Phone Number	208-2500
Entity Central Index Key	0000912593
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date		--12-31
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Land	$ 2,190,762	$ 2,119,364
Land improvements and buildings	8,664,199	8,480,597
Rental homes and improvements	652,559	637,603
Furniture, fixtures and equipment	491,735	447,039
Investment property	11,999,255	11,684,603
Accumulated depreciation	(2,088,105)	(1,968,812)
Real Estate Investment Property, Net, Total	9,911,150	9,715,791
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	120,174	92,641
Marketable securities	127,821	124,726
Inventory of manufactured homes	43,242	46,643
Notes and other receivables, net	249,009	221,650
Collateralized receivables, net	300,554	305,611
Other Assets	263,417	270,691
Total Assets	11,454,209	11,206,586
LIABILITIES
Secured Debt	3,430,420	3,444,967
Lines of credit and other debt	917,603	1,242,197
Distributions payable	95,076	86,988
Advanced reservation deposits and rent	280,301	187,730
Accounts Payable	160,072	148,435
Other Liabilities	148,128	134,650
Total Liabilities	5,101,512	5,314,879
Temporary Equity	261,059	264,379
STOCKHOLDERS' EQUITY
Common Stock, Value, Issued	1,118	1,076
Additional paid-in capital	7,618,128	7,087,658
Accumulated other comprehensive loss	4,033	3,178
Distributions in excess of accumulated earnings	(1,631,044)	(1,566,636)
Total Sun Communities, Inc. stockholders' equity	5,992,235	5,525,276
Noncontrolling interests:
Common and preferred OP units	82,502	85,968
Consolidated VIEs (fully attributable to consolidated VIEs; see Note 7)	16,901	16,084
Total noncontrolling interests	99,403	102,052
Total Stockholders' Equity	6,091,638	5,627,328
Total Liabilities, Temporary Equity and Stockholders' Equity	11,454,209	11,206,586
Goodwill	438,842	428,833
Intangible Assets, Net (Including Goodwill)	300,554	305,611
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Real Estate Investment Property, Net, Total	479,196	438,918
Other Assets	31,820	24,554
Total Assets	511,016	463,472
LIABILITIES
Secured Debt	54,142	47,706
Preferred OP units - mandatorily redeemable	35,249	35,249
Other Liabilities	47,901	21,957
Total Liabilities	137,292	104,912
Noncontrolling interests:
Consolidated VIEs (fully attributable to consolidated VIEs; see Note 7)	16,901	16,084
Preferred Equity, Mandatorily Redeemable [Member]
LIABILITIES
Preferred OP units - mandatorily redeemable	35,249	35,249
Aspen Series B3 Preferred Operating Partnership Units [Member]
LIABILITIES
Secured Debt	34,663
Preferred OP units - mandatorily redeemable	$ 34,663	$ 34,663

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Investment property, net	$ 9,911,150	$ 9,715,791
Other assets	263,417	270,691
Secured debt	3,430,420	3,444,967
Temporary Equity, Consolidated VIE	26,604	28,469
Other liabilities	$ 148,128	$ 134,650
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	180,000,000	180,000,000
Common Stock, Shares Issued	111,835,000	107,626,000
Common Stock, Shares Outstanding	111,835,000	107,626,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
REVENUES
Real property	$ 330,613	$ 258,349
Home sales	52,199	40,587
Service, retail, dining and entertainment	50,612	5,103
Interest	2,631	2,350
Brokerage commissions and other, net	5,960	3,913
Total Revenues	442,015	310,302
Expenses
Property operating and maintenance	103,553	69,834
Real estate tax	22,408	17,176
Home costs and selling	41,590	34,039
Service, retail, dining and entertainment	45,431	6,682
Business Combination, Integration Related Costs	1,232	0
General and administrative	38,203	25,349
Catastrophic event-related charges, net	2,414	606
Depreciation and amortization	123,304	83,689
Gain (Loss) on Extinguishment of Debt	0	3,279
Interest	39,517	32,416
Interest on mandatorily redeemable preferred OP units / equity	1,036	1,041
Total Expenses	418,688	274,111
Income Before Other Items	23,327	36,191
Remeasurement Of Marketable Securities	3,661	(28,647)
Gain / (loss) on foreign currency translation	25	(17,479)
Other expense, net	(1,099)	(972)
Loss on Remeasurement of Notes Receivable	376	(2,112)
State and Local Income Tax Expense (Benefit), Continuing Operations	229	(450)
Loss on Remeasurement of Investment	104	(2,191)
Deferred Income Tax Expense (Benefit)	147	130
Net Income / (Loss)	27,941	(15,478)
Less: Preferred return to preferred OP units / equity	2,864	1,570
Less: Income / (loss) attributable to noncontrolling interests	295	(962)
Net Income / (Loss) Attributable to Sun Communities, Inc.	24,782	(16,086)
Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders	$ 24,782	$ (16,086)
Weighted average common shares outstanding:
Weighted average common shares outstanding - basic	107,932	92,410
Weighted average common shares outstanding - diluted	108,161	92,411
Earnings per share:
Earnings Per Share, Basic	$ 0.23	$ (0.17)
Earnings Per Share, Diluted	$ 0.23	$ (0.17)
Distributions from Affiliate	$ 1,171	$ 52

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income / (Loss)	$ 27,941	$ (15,478)
Foreign currency translation gain / (loss) adjustment	(895)	(7,300)
Total Comprehensive Income	28,836	(22,778)
Less: Comprehensive income / (loss) attributable to noncontrolling interests	(335)	1,268
Comprehensive Income / (Loss) attributable to Sun Communities, Inc.	$ 28,501	$ (21,510)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES:
Net Cash Provided By Operating Activities	$ 220,490	$ 118,513
INVESTING ACTIVITIES:
Investment in properties	(151,979)	(132,759)
Acquisitions of properties, net of cash acquired	(141,755)	(24,439)
Proceeds from dispositions of assets and depreciated homes, net	17,774	12,612
Issuance of notes and other receivables	(7,907)	(19,903)
Repayments of notes and other receivables	1,207	854
Investments in nonconsolidated affiliates	(4,510)	(6,970)
Distributions from nonconsolidated affiliates	1,192	1,275
Net Cash Used For Investing Activities	(285,978)	(169,330)
FINANCING ACTIVITIES:
Issuance of common stock, OP units, and preferred OP units, net	522,264	(7,140)
Borrowings on lines of credit	442,290	1,163,965
Payments on lines of credit	(766,260)	(763,076)
Proceeds from issuance of other debt	0	230,000
Payments on other debt	(14,799)	(134,203)
Prepayment penalty on collateralized term loans	0	(3,250)
Distributions to stockholders, OP unit holders, and preferred OP unit holders	(89,792)	(71,859)
Payments for deferred financing costs	(701)	(3,328)
Net Cash Provided By Financing Activities	93,002	411,109
Effect of exchange rate changes on cash, cash equivalents and restricted cash	19	(382)
Net change in cash, cash equivalents and restricted cash	27,533	359,910
Cash, cash equivalents and restricted cash, beginning of period	92,641	34,830
Cash, Cash Equivalents and Restricted Cash, End of Period	120,174	394,740
SUPPLEMENTAL INFORMATION:
Interest Paid, Excluding Capitalized Interest, Operating Activities	39,458	32,464
Cash paid for interest on mandatorily redeemable debt	1,036	1,041
Cash paid / (refunded) for income taxes	(484)	75
Noncash investing and financing activities
Change in distributions declared and outstanding	8,095	4,787
Conversion of common and preferred OP units	1,150	446
Series E Preferred OP Units
Noncash investing and financing activities
Stock Issued During Period, Value, New Issues, Series A-4 Preferred OP Units	0	9,000
Contingent Consideration Liability
Noncash investing and financing activities
Noncash Or Part Noncash Acquisition, Noncash Financial Or Equity Instrument Consideration, Escrow	$ 3,201	$ 0

Consolidated Statements Of Ca_2

Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Cash Flows [Abstract]
Interest Costs Capitalized	$ 1,154	$ 2,258

Consolidated Statement Of Stock

Consolidated Statement Of Stockholders' Equity - USD ($) $ in Thousands	Total	Temporary Equity	Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interests	Total Stockholders' Equity	Total Equity	Common OP UnitsAdditional Paid-in Capital	Common OP UnitsNon-controlling Interests
Beginning Balance at Dec. 31, 2019		$ 78,004
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		98
Temporary Equity, Stock Issued During Period, Value, New Issues				$ 181			$ 8,819	$ 9,000	$ 9,000
Net income (loss)		(1,195)
Distributions		(457)
Ending Balance at Mar. 31, 2020		76,450
Beginning Balance at Dec. 31, 2019			$ 932	5,213,264	$ (1,393,141)	$ (1,331)	56,228	3,875,952	3,953,956
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net			1	(7,141)				(7,140)	(7,140)
Conversion of OP units				(446)			446		0
Equity interests					85			85	(13)
Share-based compensation - amortization and forfeitures				4,928	93			5,021	5,021
Change in carrying value of temporary equity	$ (7,300)
Foreign currency translation						(6,994)	(306)	(7,300)	(7,300)
Remeasurement Of Notes Receivable And Equity Method Investments					1,953			1,953	1,953
Net income (loss)	(16,086)				(14,514)		231	(14,283)	(15,478)
Distributions					(73,730)		(2,918)	(76,648)	(77,105)
Ending Balance at Mar. 31, 2020			933	5,211,678	(1,479,424)	(8,325)	61,608	3,786,470	3,862,920
Beginning Balance at Dec. 31, 2020		264,379
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		52
Net income (loss)		(1,568)
Distributions		(1,804)
Ending Balance at Mar. 31, 2021		$ 261,059
Beginning Balance at Dec. 31, 2020	5,627,328		1,076	7,087,658	(1,566,636)	3,178	102,052	5,627,328	5,891,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net			42	522,222				522,264	522,264
Conversion of OP units									0	$ (1,150)	$ 1,150
Equity interests					52			52	0
Share-based compensation - amortization and forfeitures				7,118	62			7,180	7,180
Change in carrying value of temporary equity	(895)
Foreign currency translation						855	40	895	895
Other				(20)	758		(141)	597	597
Net income (loss)	24,782				27,647		1,862	29,509	27,941
Distributions					(92,823)		(3,260)	(96,083)	(97,887)
Ending Balance at Mar. 31, 2021	$ 6,091,638		$ 1,118	$ 7,618,128	$ (1,631,044)	$ 4,033	$ 99,403	$ 6,091,638	$ 6,352,697

Equity and Temporary Equity Equ

Equity and Temporary Equity Equity and Temporary Equity, Dividends Payable Table (Details) - Common Stock $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Dividends Payable [Line Items]
Dividends per common share | $ / shares	$ 0.83
Payments of dividends | $	$ 94,966

Equity and Temporary Equity E_2

Equity and Temporary Equity Equity and Temporary Equity, Schedule of Sale of Common Stock (Details) - USD ($) $ in Millions	Mar. 02, 2021	Sep. 30, 2020	Sep. 30, 2018
Aggregate Value of Shares to be Issued in Accordance to Sales Agreement		$ 450
Issuance of common stock and common OP units, net	$ 1,100		$ 163.8

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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"), Sun Home Services, Inc. ("SHS") and Safe Harbor Marinas, LLC ("Safe Harbor") are referred to herein as the "Company," "us," "we," and "our." We follow accounting standards set by the Financial Accounting Standards Board ("FASB"). FASB establishes accounting principles generally accepted in the United States of America ("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 ("ASC"). 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. We present interim disclosures and certain information and footnote disclosures as required by SEC rules and regulations. 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. During the three months ended March 31, 2021, we changed our organizational structure from a two-segment to a three-segment structure as a result of the recent acquisition of Safe Harbor and its internal organization. The new structure reflects how the chief operating decision maker manages the business, makes operating decisions, allocates resources and evaluates operating performance. Therefore, beginning with results for the three months ended March 31, 2021, we are reporting our financial results consistent with our newly realigned operating segments and have recast prior period amounts to conform to the way we internally manage our business and monitor segment performance. Certain reclassifications have been made to the prior period financial statements and related notes in order to conform to the current period presentation. The most significant changes were the combining of rental home revenue with real property revenue, the combining of rental home operating and maintenance expenses with property operating expenses, and the combining of home selling expenses with cost of home sales. Vacation rental home rent has been reclassified from ancillary income into real property. In addition, ancillary revenues and expenses have been renamed service, retail, dining & entertainment. There was no impact to prior period net income, stockholders equity or cash flows for any of the reclassifications. 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, 2020 as filed with the SEC on February 18, 2021 (our "2020 Annual Report"). These statements have been prepared on a basis that is substantially consistent with the accounting principles applied in our 2020 Annual Report.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	2. Revenue Disaggregation of Revenue During the three months ended March 31, 2021, we changed our organizational structure from a two-segment to a three-segment structure as a result of the recent acquisition of Safe Harbor and its internal organization. The new structure reflects how the chief operating decision maker manages the business, makes operating decisions, allocates resources and evaluates operating performance. Our three new reportable segments are: (i) Manufactured homes ("MH") communities, (ii) Recreational vehicle ("RV") resorts and (iii) Marinas. Certain reclassifications have been made to the prior period comparative information to conform to the current period presentation. The following tables details our revenue by major source (in thousands): Three Months Ended March 31, 2021 March 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Revenues Real property $ 198,278 $ 81,102 $ 51,233 $ 330,613 $ 183,326 $ 75,023 N/A $ 258,349 Home sales 45,332 6,867 — 52,199 35,782 4,805 N/A 40,587 Service, retail, dining and entertainment 1,864 4,394 44,354 50,612 2,053 3,050 N/A 5,103 Interest 2,086 537 8 2,631 1,999 351 N/A 2,350 Brokerage commissions and other, net 2,520 2,895 545 5,960 2,099 1,814 N/A 3,913 Total Revenues $ 250,080 $ 95,795 $ 96,140 $ 442,015 $ 225,259 $ 85,043 N/A $ 310,302 (1) Recast to reflect segment changes Our revenue consists primarily of Real property revenue at our MH, RV and marina properties, revenue from Home sales, Service, retail, dining and entertainment revenue, Interest income, and Brokerage commissions and other revenue. The majority of our revenue is derived from site and home leases, and wet slips and dry storage spaces leases that are accounted for pursuant to ASC 842, " Leases ." We account for all revenue from contracts with customers following ASC 606, " Revenue from Contracts with Customers " except for those that are within the scope of other topics in the FASB accounting standards codification. For additional information, refer to Note 1, "Significant Accounting Policies," in our 2020 Annual Report.

Real Estate Acquisitions

Real Estate Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Real Estate Acquisitions	Real Estate Acquisitions and Dispositions 2021 Acquisitions During the three months ended March 31, 2021, we acquired the following communities, resorts and marinas: Community Name Type Sites, State Month Acquired Association Island KOA RV: asset acquisition 294 NY January Blue Water Beach Resort RV: asset acquisition 177 UT February Tranquility MHC MH: asset acquisition 25 FL February Islamorada and Angler House (1) Marina: asset acquisition 251 FL February Prime Martha's Vineyard (1) Marina: asset acquisition 390 MA March Pleasant Beach Campground RV: asset acquisition 102 ON March Cherrystone Family Camping Resort RV: asset acquisition 669 VA March Beachwood Resort RV: asset acquisition 672 WA March Total 2,580 (1) Includes two marinas The following table summarizes the amount of assets acquired, net of liabilities assumed at the acquisition date and the consideration paid for the MH community, RV resort and marina acquisitions completed during the three months ended March 31, 2021 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes, boat parts In-place leases and other intangible assets Other assets / (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Total consideration Association Island KOA $ 14,965 $ — $ 41 $ (248) $ 14,758 $ 14,758 $ 14,758 Blue Water Beach Resort 9,000 — — (151) 8,849 8,849 8,849 Tranquility MHC 1,250 — — (1) 1,249 1,249 1,249 Islamorada and Angler House 18,001 22 269 (317) 17,975 17,975 17,975 Prime Martha's Vineyard (1) 22,258 138 127 (573) 21,950 21,950 21,950 Pleasant Beach Campground 1,588 — — 1 1,589 1,589 1,589 Cherrystone Family Camping Resort 59,900 — — (2,029) 57,871 57,871 57,871 Beachwood Resort 7,000 — — (401) 6,599 6,599 6,599 Total $ 133,962 $ 160 $ 437 $ (3,719) $ 130,840 $ 130,840 $ 130,840 (1) Includes two marinas. As of March 31, 2021, we have incurred $1.8 million of additional capitalized transaction costs which have been allocated among the various categories above. As of March 31, 2021, we also incurred $1.2 million of business combination expenses associated with our acquisition of Safe Harbor and related delayed consent properties, and the Rybovich Portfolio in 2020, which are accounted for as business combinations, as opposed to asset acquisitions. Refer to Note 18, "Subsequent Events," for information regarding real estate acquisitions completed after March 31, 2021. 2020 Acquisitions and dispositions For the year ended December 31, 2020, we acquired the following communities, resorts, and marinas. Community Name Type Sites, Wet Slips and Dry Storage Spaces Development Sites State Month Acquired Cape Cod (1) RV: asset acquisition 230 — MA January Jellystone Natural Bridge RV: asset acquisition 299 — VA February Forest Springs (2) MH: asset acquisition 372 — CA May Crown Villa RV: asset acquisition 123 — OR June Flamingo Lake RV: asset acquisition 421 — FL July Woodsmoke RV: asset acquisition 300 — FL September Jellystone Lone Star RV: asset acquisition 344 — TX September El Capitan & Ocean Mesa (3)(4) RV: asset acquisition 266 109 CA September Highland Green Estates & Troy Villa (5) MH: asset acquisition 1,162 — MI September Safe Harbor Marinas (6) Marina: business combination 37,305 — Various October Safe Harbor Hideaway Bay (7) Marina: business combination 628 — GA November Gig Harbor RV: asset acquisition 115 — WA November Maine MH Portfolio (8) MH: asset acquisition 1,083 — ME November Safe Harbor Anacapa Isle (7) Marina: business combination 453 — CA December Mears Annapolis Marina: asset acquisitions 184 — MD December Wickford Marina: asset acquisitions 60 — RI December Rybovich Portfolio (9) Marina: business combination 78 — FL December Rockland Marina: asset acquisitions 173 — ME December Mouse Mountain MH / RV: asset acquisition 304 — FL December Lakeview Mobile Estates MH: asset acquisition 296 — CA December Shenandoah Acres RV: asset acquisition 522 — VA December Jellystone at Barton Lake RV: asset acquisition 555 — IN December Kittatinny Portfolio (4) RV: asset acquisition 527 — NY & PA December Total 45,800 109 (1) In conjunction with the acquisition, we issued Series E preferred OP units. As of December 31, 2020, 90,000 Series E preferred OP units were outstanding. (2) In conjunction with the acquisition, we issued Series F preferred OP units and common OP units. As of December 31, 2020, 90,000 Series F preferred OP units, specific to this acquisition, were outstanding. (3) In conjunction with the acquisition, we issued Series G preferred OP units. As of December 31, 2020, 240,710 Series G preferred OP units were outstanding. (4) Includes two RV resorts. (5) Includes two communities. (6) Includes 99 owned marinas located in 22 states. In conjunction with the acquisition, we issued Series H preferred OP units. As of December 31, 2020, 581,407 Series H preferred OP units were outstanding. (7) Acquired in connection with Safe Harbor Marinas acquisition. Transfer of marinas was contingent on receiving third party consents. (8) Includes six communities. (9) Includes two marinas. In conjunction with the acquisition, we issued Series I preferred OP units. As of December 31, 2020, 922,000 Series I preferred OP units were outstanding. The following table summarizes the amounts of assets acquired, net of liabilities assumed at the acquisition date and the consideration paid for the acquisitions completed in 2020 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes, boat parts Goodwill, In-place leases and other intangible assets Other assets / (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Debt assumed Temporary and permanent equity Total consideration Asset Acquisition Cape Cod $ 13,350 $ — $ 150 $ (295) $ 13,205 $ 4,205 $ — $ 9,000 $ 13,205 Jellystone Natural Bridge 11,364 — 80 (391) 11,053 11,053 — — 11,053 Forest Springs 51,949 1,337 2,160 (107) 55,339 36,260 — 19,079 55,339 Crown Villa 16,792 — — (230) 16,562 16,562 — — 16,562 Flamingo Lake 34,000 — — (155) 33,845 33,845 — — 33,845 Woodsmoke 25,120 40 840 (461) 25,539 25,539 — — 25,539 Jellystone Lone Star 21,000 — — (703) 20,297 20,297 — — 20,297 El Capitan & Ocean Mesa 69,690 — — (10,321) 59,369 32,108 — 27,261 59,369 Highland Green Estates & Troy Villa 60,988 1,679 2,030 (15) 64,682 64,682 — — 64,682 Gig Harbor 15,250 — — (22) 15,228 15,228 — — 15,228 Maine MH Portfolio 79,890 — 1,359 30 81,279 72,479 8,800 — 81,279 Mears Annapolis 24,354 — 6,922 (546) 30,730 30,730 — — 30,730 Wickford 3,468 — 42 (121) 3,389 3,389 — — 3,389 Rockland 15,082 348 101 (368) 15,163 15,163 — — 15,163 Mouse Mountain 15,221 — 279 (4) 15,496 15,496 — — 15,496 Lakeview Mobile Estates 22,917 195 638 (72) 23,678 23,678 — — 23,678 Shenandoah Acres 16,166 — 834 (197) 16,803 16,803 — — 16,803 Jellystone at Barton Lake 23,462 — 538 (397) 23,603 23,603 — — 23,603 Kittatinny Portfolio 16,220 — 30 29 16,279 16,279 — — 16,279 Business Combination (1) Safe Harbor Marinas (3) 1,643,879 5,700 418,033 (26,831) 2,040,781 1,141,797 829,000 69,984 2,040,781 Hideaway Bay (3) 26,218 23 7,242 (1,077) 32,406 32,406 — — 32,406 Anacapa Isle (3) 10,924 — 3,146 60 14,130 14,130 — — 14,130 Rybovich Portfolio (2)(3) 122,064 620 249,840 (37) 372,487 258,123 — 114,364 372,487 Total $ 2,339,368 $ 9,942 $ 694,264 $ (42,231) $ 3,001,343 $ 1,923,855 $ 837,800 $ 239,688 $ 3,001,343 (1) Refer to Note 5, "Goodwill and Other Intangibles Assets," for additional detail on goodwill and other intangible assets. (2) Purchase price allocations were preliminary as of December 31, 2020 and were adjusted as of March 31, 2021 based on revised purchase price allocations. (3) Allocations are preliminary and may change based on final purchase price allocations. As of December 31, 2020, we have incurred $23.0 million of expensed business combination transaction costs (in relation to the acquisition Safe Harbor, Hideaway Bay, Anacapa Isle, and the Rybovich Portfolio, as each such acquisition meets the criteria to be accounted for as business combination), and $13.4 million of capitalized transaction costs for asset acquisitions which have been allocated among the various categories above. Land for Expansion / Development During the year ended December 31, 2020, we acquired eight land parcels which are located in Orange Beach, Alabama; Jensen Beach, Florida; Citra Lakes, Florida; Comal County, Texas; and Menifee, California for total consideration of $9.7 million. Seven of the land parcels are adjacent to existing communities. Dispositions Real estate held for sale of $32.1 million as of December 31, 2020, was reclassified from Other assets, net to various line items on the Consolidated Balance Sheets during the three months ended March 31, 2021, as the sale of those assets was no longer probable. As of March 31, 2021, the primary reclassifications were $34.5 million of assets within Investment property, net and $3.8 million within Other liabilities on the Consolidated Balance Sheets. On July 1, 2020, we sold a manufactured housing community located in Montana, containing 226 sites, for $12.6 million. The gain from the sale of the property was approximately $5.6 million.

Notes And Other Receivables

Notes And Other Receivables	3 Months Ended
	Mar. 31, 2021
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, 2021 December 31, 2020 Installment notes receivable on manufactured homes, net $ 84,109 $ 85,866 Notes receivable from real estate developers 58,286 52,638 Other receivables, net 106,614 83,146 Total Notes and Other Receivables, net $ 249,009 $ 221,650 Installment Notes Receivable on Manufactured Homes Installment notes receivable are measured at fair value, in accordance with ASC Topic 820 " Fair Value Measurements and Disclosures. " The balances of installment notes receivable of $84.1 million (net of fair value adjustment of $0.9 million) and $85.9 million (net of fair value adjustment of $1.3 million) as of March 31, 2021 and December 31, 2020, respectively, are collateralized by manufactured homes. The notes represent financing to purchasers of manufactured homes primarily located in our communities and require monthly principal and interest payments. The notes had a net weighted average interest rate (net of servicing costs) and maturity of 7.8 percent and 15.0 years as of March 31, 2021, and 7.8 percent and 15.2 years as of December 31, 2020, respectively. Refer to Note 14, "Fair Value of Financial Instruments," for additional detail. The change in the aggregate balance of the installment notes receivable is as follows (in thousands): Three Months Ended Year Ended March 31, 2021 December 31, 2020 Beginning balance of gross installment notes receivable $ 87,142 $ 96,225 Financed sale of manufactured homes 1,212 5,014 Adjustment for notes receivable related to assets held for sale 477 (477) Principal payments and payoffs from our customers (2,849) (8,977) Principal reduction from repossessed homes (965) (4,643) Ending balance of gross installment notes receivable 85,017 87,142 Beginning balance of allowance for losses on installment notes receivables — (645) Initial fair value option adjustment — 645 Ending balance of allowance for losses on installment notes receivables — — Beginning balance of fair value adjustments on gross installment notes receivable (1,276) — Initial fair value option adjustment — 991 Adjustment for notes receivable related to assets held for sale (7) 7 Fair value adjustment 375 (2,274) Fair value adjustments on gross installment notes receivable (908) (1,276) Ending balance of installment notes receivable, net $ 84,109 $ 85,866 Notes Receivable from Real Estate Developers As of March 31, 2021 and December 31, 2020, the notes receivable balances of $58.3 million and $52.6 million, respectively are primarily comprised of construction loans provided to real estate developers. The carrying values of the notes generally approximate their fair market values either due to the nature of the loan and / or the note being secured by underlying collateral and / or personal guarantees. The notes receivable from real estate developers have a net weighted average interest rate and maturity of 6.3 percent and 1.6 years as of March 31, 2021, and 6.2 percent and 1.8 years as of December 31, 2020, respectively. As of March 31, 2021, real estate developers collectively have $14.5 million of undrawn funds on their loans. There were no material adjustments to the fair value of notes receivable from the real estate developers for the three months ended March 31, 2021 and 2020. Refer to Note 14, "Fair Value of Financial Instruments." Other Receivables, net As of March 31, 2021, other receivables were comprised of amounts due from: home sale proceeds of $28.6 million, marina customers for storage service and lease payments of $28.2 million (net of allowance of $1.7 million), residents for rent, utility charges, fees and other pass through charges of $15.9 million (net of allowance of $5.8 million), insurance receivables of $13.5 million and other receivables of $20.4 million. As of December 31, 2020, other receivables were comprised of amounts due from: home sale proceeds of $23.6 million, marina customers for storage services and lease payments of $19.2 million (net of allowance of $1.4 million), residents for rent, utility charges, fees and other pass through charges of $7.1 million (net of allowance of $7.2 million), insurance receivables of $13.6 million and other receivables of $19.6 million. In June 2020, we made a convertible secured loan to Rezplot Systems LLC, a nonconsolidated affiliate in which we have a 50 percent ownership interest. The note allows for a principal amount of up to $10.0 million to be drawn down over a period of three years, bears an interest rate of 3.0 percent and is secured by all the assets of Rezplot Systems LLC. The outstanding balances were $4.0 million and $2.0 million as of March 31, 2021 and December 31, 2020, respectively, and are included in the Notes and other receivables, net line item on the Consolidated Balance Sheets. Refer to Note 6, "Investment in Nonconsolidated Affiliates," for additional information on Rezplot Systems LLC.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Goodwill and Other Intangibles Assets Our intangible assets include goodwill, in-place leases, non-competition agreements, trademarks and trade names, customer relationships, and franchise agreements and other intangible assets. These intangible assets are recorded in Other Intangible Assets, net on the Consolidated Balance Sheets. The gross carrying amounts and accumulated amortization of our intangible assets are as follows (in thousands): March 31, 2021 December 31, 2020 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill Indefinite $ 438,842 N/A $ 428,833 N/A In-place leases (1) Expected term 149,109 (102,521) 145,531 (92,327) Non-competition agreements 5 years 10,000 (500) 10,000 — Trademarks and trade names Various (2) 116,500 (208) 116,500 — Customer relationships 7 - 10 years 107,958 (3,983) 108,000 (2,371) Franchise agreements and other intangible assets 5.5 - 20 years 28,266 (4,067) 23,856 (3,578) Total $ 850,675 $ (111,279) $ 832,720 $ (98,276) (1) In-place leases as of March 31, 2021 include amounts related to certain assets previously held for sale, and included in Other assets, net, as of year ended December 31, 2020. Assets previously classified as held for sale were reclassified to held for investment as of January 1, 2021. (2) All trademarks and trade names have an indefinite useful life except for one that has a three year useful life as of the acquisition date. Goodwill impairment - Upon review of the qualitative factors in accordance with FASB ASC 350-20, " Goodwill and Other ," we determined that no impairment indicators existed as of March 31, 2021 and December 31, 2020. As a result, there was no impairment of goodwill during three months ended March 31, 2021. As a result of our organizational change and segment structure realignment, goodwill is recorded in our Marinas operating segment. Goodwill was preliminary as of December 31, 2020, subject to revisions based on purchase price allocations for the Safe Harbor and Rybovich business combination acquisitions which are reflected in the revised goodwill balance at March 31, 2021. There were no incremental acquisitions during the quarter ended March 31, 2021 which had goodwill. Amortization expenses related to the Other intangible assets are as follows (in thousands): Three Months Ended Intangible Asset Amortization Expense March 31, 2021 March 31, 2020 In-place leases $ 9,816 $ 3,451 Non-competition agreements 500 — Trademarks and trade names 208 — Customer relationships 1,611 — Franchise fees and other intangible assets 490 205 Total $ 12,625 $ 3,656 We anticipate amortization expense for Other intangible assets to be as follows for the next five years (in thousands): Remainder 2021 2022 2023 2024 2025 In-place leases $ 18,532 $ 11,145 $ 7,701 $ 5,408 $ 4,844 Non-competition agreements 1,500 2,000 2,000 2,000 2,000 Trademarks and trade names 625 833 833 — — Customer relationships 8,128 10,837 10,837 10,837 10,837 Franchise agreements and other intangible assets 1,676 1,962 1,933 1,879 1,872 Total $ 30,461 $ 26,777 $ 23,304 $ 20,124 $ 19,553

Investment In Affiliates

Investment In Affiliates	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investment In Affiliates	nvestment in Nonconsolidated Affiliates Investments in joint ventures that are not consolidated, nor recorded at cost, are accounted for using the equity method of accounting as prescribed in FASB ASC Topic 323, " Investments - Equity Method and Joint Ventures ." Investments in nonconsolidated affiliates are recorded within Other assets, net on the Consolidated Balance Sheets. Equity income and loss are recorded in the Income from nonconsolidated affiliates line item on the Consolidated Statements of Operations. RezPlot Systems LLC ("Rezplot") At March 31, 2021 and December 31, 2020, we had a 50 percent ownership interest in RezPlot, a RV reservation software technology company, which interest we acquired in January 2019. Sungenia joint venture ("Sungenia JV") At March 31, 2021 and December 31, 2020, we had a 50 percent ownership interest in Sungenia JV, a joint venture formed between us and Ingenia Communities Group in November 2018, to establish and grow a manufactured housing community development program in Australia. GTSC LLC ( "GTSC" ) At March 31, 2021 and December 31, 2020, we had a 40 percent ownership interest in GTSC, which engages in acquiring, holding and selling loans secured, directly or indirectly, by manufactured homes located in our communities. Origen Financial Services, LLC ("OFS") At March 31, 2021 and December 31, 2020, we had a 22.9 percent ownership interest in OFS, an end-to-end online resident screening and document management suite. SV Lift, LLC ("SV Lift") At March 31, 2021 and December 31, 2020, we had a 50 percent ownership interest in SV Lift, which owns, operates and leases an aircraft. The investment balance in each nonconsolidated affiliate is as follows (in thousands): Investment March 31, 2021 December 31, 2020 Investment in RezPlot $ 2,561 $ 3,047 Investment in Sungenia JV 27,337 26,890 Investment in GTSC 28,747 25,495 Investment in OFS 181 152 Investment in SV Lift 3,373 3,490 Total $ 62,199 $ 59,074 The income / (loss) from each nonconsolidated affiliate is as follows (in thousands): Three Months Ended Income / (Loss) from Nonconsolidated Affiliates March 31, 2021 March 31, 2020 RezPlot equity loss $ (487) $ (500) Sungenia JV equity income / (loss) 734 (115) GTSC equity income 1,181 760 OFS equity income 29 38 SV Lift equity loss (286) (131) Total Income from Nonconsolidated Affiliates $ 1,171 $ 52 The change in the GTSC investment balance is as follows (in thousands): Three Months Ended Year Ended March 31, 2021 December 31, 2020 Beginning balance $ 25,495 $ 18,488 Initial fair value option adjustment — 317 Contributions 4,339 19,030 Distributions (2,372) (14,676) Equity earnings 1,181 3,944 Fair value adjustment 104 (1,608) Ending Balance $ 28,747 $ 25,495 The change in the Sungenia JV investment balance is as follows (in thousands): Three Months Ended Year Ended March 31, 2021 December 31, 2020 Beginning balance $ 26,890 $ 11,995 Cumulative translation adjustment (287) 2,180 Contributions — 12,377 Equity earnings 734 338 Ending Balance $ 27,337 $ 26,890

Consolidated Variable Interest

Consolidated Variable Interest Entities	3 Months Ended
	Mar. 31, 2021
DisclosureofVariableInterestEntities [Abstract]
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities The Operating Partnership We consolidate the Operating Partnership under the guidance set forth in ASC 810 " Consolidation ." Accounting Standard Update 2015-02 modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or, alternatively, voting interest entities. We evaluated the application of ASU 2015-02 and concluded that the Operating Partnership met the criteria of a VIE. Our significant asset is our investment in the Operating Partnership, and consequently, substantially all of our assets and liabilities represent those assets and liabilities of the Operating Partnership. We are the sole general partner and generally have the power to manage and have complete control over the Operating Partnership and the obligation to absorb its losses or the right to receive its benefits. Sun NG RV Resorts LLC ("Sun NG Resorts"); Rudgate Village SPE, LLC, Rudgate Clinton SPE, LLC, and Rudgate Clinton Estates SPE, LLC (collectively, "Rudgate"); Sun NG Whitewater RV Resorts LLC; FPG Sun Menifee 80 LLC, SHM South Fork JV, LLC. We consolidate Sun NG Resorts, Rudgate, Sun NG Whitewater RV Resorts LLC, FPG Sun Menifee 80 LLC, and SHM South Fork JV, LLC under the guidance set forth in FASB ASC Topic 810 " Consolidation ." We concluded that each entity is a VIE where we are the primary beneficiary, as we have the power to direct the significant activities of, and absorb the significant losses and receive the significant benefits from each entity. Refer to Note 8, "Debt and Lines of Credit," for additional information on Sun NG Resorts and Note 9, "Equity and Temporary Equity," for additional information on Sun NG Resorts, Sun NG Whitewater RV Resorts LLC, FPG Sun Menifee 80 LLC and SHM South Fork JV, LLC. The following table summarizes the assets and liabilities of Sun NG Resorts, Rudgate, Sun NG Whitewater RV Resorts LLC. FPG Sun Menifee 80 LLC and SHM South Fork JV, LLC included in our Consolidated Balance Sheets after eliminations (in thousands): March 31, 2021 December 31, 2020 Assets Investment property, net $ 479,196 $ 438,918 Other assets, net 31,820 24,554 Total Assets $ 511,016 $ 463,472 Liabilities and Other Equity Debt $ 54,142 $ 47,706 Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,249 Other liabilities 47,901 21,957 Total Liabilities 137,292 104,912 Temporary equity 26,604 28,469 Noncontrolling interests (including SHM South Fork JV, LLC) 16,901 16,084 Total Liabilities and Other Equity $ 180,797 $ 149,465 Investment property, net and Other assets, net related to the consolidated VIEs, with the exception of the Operating Partnership, comprised approximately 4.5 percent and 4.1 percent of our consolidated total assets at March 31, 2021 and December 31, 2020, respectively. Debt, Preferred Equity and Other liabilities comprised 2.7 percent and 2.0 percent of our consolidated total liabilities at March 31, 2021 and December 31, 2020, respectively. Equity Interests and Noncontrolling interests related to the consolidated VIEs, on an absolute basis, comprised less than 1.0 percent of our consolidated total equity at March 31, 2021 and at December 31, 2020, respectively.

Debt And Lines Of Credit

Debt And Lines Of Credit	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt and Lines of Credit The following table sets forth certain information regarding debt including premiums, discounts and deferred financing costs (in thousands except statistical information): Carrying Amount Weighted Average Weighted Average March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Collateralized term loans - Life Companies $ 1,649,163 $ 1,658,239 16.1 16.3 3.990 % 3.990 % Collateralized term loans - FNMA 1,148,524 1,150,924 8.9 9.1 3.228 % 3.230 % Collateralized term loans - CMBS 265,758 267,205 2.6 2.9 4.789 % 4.789 % Collateralized term loans - FMCC 366,975 368,599 3.6 3.9 3.853 % 3.854 % Total Collateralized Term Loans 3,430,420 3,444,967 Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,249 3.5 3.8 6.000 % 6.000 % Preferred OP units - mandatorily redeemable 34,663 34,663 4.9 5.1 5.932 % 5.932 % Lines of credit and other debt 917,603 1,242,197 2.9 3.7 1.746 % 2.078 % Total Debt $ 4,417,935 $ 4,757,076 9.5 9.4 3.394 % 3.370 % Collateralized Term Loans During the three months ended March 31, 2021 we made no repayments on the collateralized term loans. During the year ended December 31, 2020, we repaid the following collateralized term loans (in thousands except statistical information): Three Months Ended Repayment Amount Fixed Interest Rate Maturity Date (Gain) / Loss on Extinguishment of Debt June 30, 2020 $ 52,710 (1) 5.980 % (3) March 1, 2021 $ 1,930 March 31, 2020 $ 99,607 5.837 % March 1, 2021 $ 3,403 $ 19,922 (2) 5.830 % (3) July 1, 2020 $ (124) (1) Includes four collateralized term loans, two due to mature on March 1, 2021, one due to mature on July 11, 2021 and the other due to mature on December 1, 2021. (2) Includes four collateralized term loans due to mature on July 1, 2020. (3) The interest rate represents the weighted average interest rate on collateralized term loans. During the three months ended March 31, 2021 we did not enter into any new collateralized term loans. During the year ended December 31, 2020, we entered into the following collateralized term loans (in thousands except statistical information): Three Months Ended Loan Amount Term Interest Maturity December 31, 2020 $ 268,800 (1) 12 2.662 % (2) May 1, 2030 March 31, 2020 $ 230,000 15 2.995 % April 1, 2035 (1) Includes three collateralized term loans, one for $8.8 million due to mature on May 1, 2030 and two for $39.5 million and $220.5 million, due to mature on November 1, 2032. (2) The interest rate represents the weighted average interest rate on collateralized term loans. The collateralized term loans totaling $3.4 billion as of March 31, 2021, are secured by 192 properties comprised of 77,306 sites representing approximately $3.2 billion of net book value. Preferred Equity - Sun NG Resorts - mandatorily redeemable In connection with the investment in Sun NG Resorts, $35.3 million of mandatorily redeemable Preferred Equity ("Preferred Equity - Sun NG Resorts") was purchased by unrelated third parties. The Preferred Equity - Sun NG Resorts carries a preferred rate of return of 6.0 percent per annum. The Preferred Equity - Sun NG Resorts has a seven-year term ending June 1, 2025 and $33.4 million can be redeemed in the fourth quarter of 2024 at the holders' option. The Preferred Equity - Sun NG Resorts as of March 31, 2021 was $35.2 million. Refer to Note 7, "Consolidated Variable Interest Entities," and Note 9, "Equity and Temporary Equity," for additional information. Preferred OP Units - mandatorily redeemable Preferred OP units at March 31, 2021 and December 31, 2020 include $34.7 million of Aspen preferred OP units issued by the Operating Partnership. As of March 31, 2021, these units are convertible indirectly into 406,470 shares of our common stock. In January 2020, we amended the Operating Partnership's partnership agreement. The amendment extended the automatic redemption date and reduced the annual distribution rate for 270,000 of the Aspen preferred OP units (the "Extended Units"). Subject to certain limitations, at any time prior to January 1, 2024 (or prior to January 1, 2034 with respect to the Extended Units), the holder of each Aspen preferred OP unit at its option may convert such Aspen preferred OP unit into: (a) if the average closing price of our common stock for the preceding ten trading days is $68.00 per share or less, 0.397 common OP units; or (b) if the ten-day average closing price is greater than $68.00 per share, the number of common OP units is determined by dividing (i) the sum of (A) $27.00 plus (B) 25.0 percent of the amount by which the ten-day average closing price exceeds $68.00 per share, by (ii) the ten-day average closing price. The current preferred distribution rate is 3.8 percent on the Extended Units and 6.5 percent on all other Aspen preferred OP units. On January 2, 2024 (or January 2, 2034 with respect to the Extended Units), we are required to redeem for cash all Aspen preferred OP units that have not been converted to common OP units. As of March 31, 2021, 270,000 of the Extended Units and 1,013,819 other Aspen preferred units were outstanding. Lines of Credit and Other Debt Credit Agreement - In May 2019, we amended and restated our credit agreement with Citibank, N.A. ("Citibank") and certain other lenders. Pursuant to the credit agreement, we entered into an unsecured senior credit facility with Citibank and certain lenders in the amount of $750.0 million, comprised of a $650.0 million revolving loan, with the ability to use up to $100.0 million for advances in Australian dollars, and a $100.0 million term loan (the "A&R Facility"). The A&R Credit Agreement has a four-year term ending May 21, 2023, which can be extended for two additional six-month periods, subject to the satisfaction of certain conditions as defined in the credit agreement. The credit agreement also provides for additional commitments in an amount not to exceed $350.0 million. The funding of these additional commitments is subject to certain conditions, including obtaining the consent of the lenders, some of which are outside of our control. If additional borrowings are made pursuant to any such additional commitments, the aggregate borrowing limit under the A&R Facility may be increased up to $1.1 billion. The A&R Facility bears interest at a floating rate based on the Eurodollar rate or Bank Bill Swap Bid Rate plus a margin that is determined based on our leverage ratio calculated in accordance with the credit agreement, which margin can range from 1.20 percent to 2.10 percent for the revolving loan and 1.20 percent to 2.05 percent for the term loan. As of March 31, 2021, the margin based on our leverage ratio was 1.20 percent on the revolving loan and 1.20 percent on the term loan. We had $352.9 million and no borrowings on the revolving loan and the term loan, respectively, as of March 31, 2021. We had $40.4 million of borrowings on the revolving loan and no borrowings on the term loan, as of December 31, 2020. The A&R 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 with Citibank, but does reduce the borrowing amount available. At March 31, 2021 and December 31, 2020, we had approximately $2.2 million and $2.1 million of outstanding letters of credit, respectively. Safe Harbor Facility - On October 30, 2020, in relation to the acquisition of Safe Harbor, we indirectly assumed approximately $829.0 million of Safe Harbor's debt (“Safe Harbor Facility”) owed to Citizens Bank N.A. ("Citizens"). On December 22, 2020, this facility was amended to, among other things, (a) increase the size of the revolving commitments available to Safe Harbor from $500.0 million to $1.3 billion, subject to borrowing base availability, (b) modify certain provisions relating to the determination of the borrowing base, (c) increase the cap on the incremental borrowing capacity from $350.0 million to $500.0 million, which allows Safe Harbor to request an increase to the revolving commitments and / or to establish additional term loans subject to the higher cap and the satisfaction of certain condition, and (d) modify certain financial covenants. The revolving loan and term loan under the Safe Harbor Facility both expire on October 11, 2024. The term loan component of the Safe Harbor Facility can be extended for two additional 12-month periods, subject to the satisfaction of certain conditions set forth in the credit agreement. The revolving commitments do not have an extension option. The Safe Harbor Facility bears interest at a floating rate based on an adjusted LIBOR rate or a base rate, plus a margin that is determined based on Safe Harbor's ratio of consolidated funded debt to total asset value, calculated in accordance with the credit agreement, which margin can range from 1.375 percent to 2.250 percent for adjusted LIBOR rate loans and 0.375 percent to 1.250 percent for base rate loans. As of March 31, 2021, based on Safe Harbor's ratio of consolidated funded debt to total asset value, the margin was 2.000 percent on any adjusted LIBOR rate loans and 1.000 percent on any base rate loans. The Safe Harbor Facility is secured by the personal property of Safe Harbor and certain related entities and subsidiaries and a pledge of the equity interests in certain subsidiaries of Safe Harbor and related entities and subsidiaries, subject to customary exceptions. At the lender's option, the Safe Harbor Facility will become immediately due and payable upon an event of default that is continuing under the credit agreement. Safe Harbor had $19.0 million and $500.0 million of borrowings under the revolving loan and term loan respectively, as of March 31, 2021. Safe Harbor had $652.0 million and $500.0 million of borrowings under the revolving loan and term loan respectively, as of December 31, 2020. The Safe Harbor Facility provides Safe Harbor with the ability to issue letters of credit. Its issuance of letters of credit does not increase its borrowings outstanding under its line of credit with Citizens, but does reduce the borrowing amount available. The balance of the outstanding letters of credit for Safe Harbor was approximately $0.3 million at March 31, 2021 and December 31, 2020. Floor Plan - We have a $12.0 million manufactured home floor plan facility renewable indefinitely until our lender provides us at least a 12-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 percent. At March 31, 2021, the effective interest rate was 7.0 percent. The outstanding balance was $3.2 million as of March 31, 2021 and $4.8 million as of December 31, 2020. These balances are recorded within the Lines of credit and other debt line item on the Consolidated Balance Sheets. Other - In October 2019, we assumed a term loan facility with Citibank, in the amount of $58.0 million in relation to an acquisition. The term loan has a four-year term ending October 29, 2023, and bears interest at a floating rate based on the Eurodollar rate or Prime rate plus a margin ranging from 1.20 percent to 2.05 percent. As of March 31, 2021, the margin based on our leverage ratio was 1.20 percent. The outstanding balance was $42.5 million at March 31, 2021 and $45.0 million at December 31, 2020, respectively. These balances are recorded in the Lines of credit and other debt line item on the Consolidated Balance Sheets. Covenants The Collateralized term loans and Lines of credit are subject to various financial and other covenants. The most restrictive covenants are pursuant to (a) the terms of the A&R Facility, which contains minimum fixed charge coverage ratio and net worth requirements, and maximum leverage, distribution ratios and variable rate indebtedness, and (b) the terms of the Safe Harbor Facility, which contains a minimum fixed charge coverage ratio pre-distribution, a minimum fixed charge coverage ratio post distribution, a minimum borrowing base coverage ratio, and a maximum leverage ratio. At March 31, 2021, we were in compliance with all covenants. In addition, certain of our subsidiary borrowers own properties that secure loans. These subsidiaries are consolidated within our accompanying Consolidated Financial Statements, however, each of these subsidiaries' assets and credit are not available to satisfy our debts and other obligations, any of our other subsidiaries or any other person or entity. Off-Balance Sheet Arrangements - Nonconsolidated Affiliate Indebtedness GTSC - During September 2019, GTSC, a nonconsolidated affiliate in which we have a 40 percent ownership interest, entered into a warehouse line of credit with a maximum loan amount of $125.0 million. During September 2020, the maximum amount was increased to $180.0 million. As of March 31, 2021, the aggregate carrying amount of debt, including both our and our partner's share, incurred by GTSC was $180.0 million (of which our proportionate share is $72.0 million). As of December 31, 2020, the aggregate carrying amount of debt, including both our and our partner's share, incurred by GTSC was $167.7 million (of which our proportionate share is $67.1 million). The debt bears interest at a variable rate based on LIBOR plus 1.65 percent per annum and matures on September 15, 2023. Sungenia JV - During May 2020, Sungenia JV, a nonconsolidated affiliate in which we have a 50 percent ownership interest, entered into a debt facility agreement with a maximum loan amount of 27.0 million Australian dollars, or $20.5 million converted at the March 31, 2021 exchange rate. As of March 31, 2021, the aggregate carrying amount of debt, including both our and our partners' share, incurred by Sungenia JV was $6.6 million (of which our proportionate share is $3.3 million). As of December 31, 2020, the aggregate carrying amount of debt, including both our and our partners' share, incurred by Sungenia JV was $6.7 million (of which our proportionate share is $3.3 million). The debt bears interest at a variable rate based on Australian Bank Bill Swap Bid Rate (BBSY) plus 2.05 percent per annum and is available for a minimum of three years.

Equity and Temporary Equity

Equity and Temporary Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity and Temporary Equity	Equity and Temporary Equity Public Equity Offerings On March 2, 2021, we priced a $1.1 billion underwritten public offering of an aggregate of 8,050,000 shares at a public offering price of $140.00 per share, before underwriting discounts and commissions. The offering consisted of 4,000,000 shares offered directly by us and 4,050,000 shares offered under a forward equity sales agreement (the "March 2021 Forward Equity Offering"). We sold the 4,000,000 shares on March 9, 2021 and received net proceeds of $537.6 million. We may elect to settle the forward sale agreements relating to the remaining 4,050,000 shares upon one or more forward settlement dates no later than March 2022. We may also elect to cash settle or net share settle all or a portion of our obligations under the March 2021 Forward Equity Offering if we conclude it is in our best interest to do so. If we elect to cash settle or net settle the March 2021 Forward Equity Offering, we may not receive any proceeds. If we fully physically settle the March 2021 Forward Equity Offering, we expect to receive net proceeds of approximately $544.3 million. We evaluated the accounting of the March 2021 Forward Equity Offering under FASB ASC Topic 480 " Distinguishing Liabilities from Equity " and FASB ASC Topic 815 " Derivatives and Hedging " and determined that the March 2021 Forward Equity Offering is indexed to our own equity and meet the requirements for equity classification under ASC 815-40-25. As result, the March 2021 Forward Equity Offering has been classified as equity and is therefore exempt from derivative accounting. We recorded the March 2021 Forward Equity Offering at fair value at inception, which we determined to be zero. Subsequent changes to fair value are not required under equity classification. On September 30, 2020, we entered into two forward sale agreements (the "September 2020 Forward Equity Offerings") relating to an underwritten registered public offering of 9,200,000 shares of our common stock at a public offering price of $139.50 per share. The offering closed on October 5, 2020. On October 26, 2020, we physically settled the September 2020 Forward Equity Offering (by the delivery of shares of our common stock). Proceeds from the offering were approximately $1.23 billion after deducting expenses related to the offering. We used the net proceeds of this offering to fund the cash portion of the acquisition of Safe Harbor, and for working capital and general corporate purposes. In May 2020, we closed an underwritten registered public offering of 4,968,000 shares of common stock. Proceeds from the offering were $633.1 million after deducting expenses related to the offering. We used the net proceeds of this offering to repay borrowings outstanding under the revolving loan under our senior credit facility. At the Market Offering Sales Agreement In July 2017, we entered into an at the market offering sales agreement (the "Sales Agreement") with certain sales agents (collectively, the "Sales Agents"), whereby we may offer and sell shares of our common stock, having an aggregate offering price of up to $450.0 million, from time to time through the Sales Agents. The Sales Agents are entitled to compensation in an agreed amount not to exceed 2.0 percent of the gross price per share for any shares sold under the Sales Agreement. Through March 31, 2021, we have sold shares of our common stock for gross proceeds of $163.8 million under the Sales Agreement. There were no issuances of common stock under the Sales Agreement during the three months ended March 31, 2021 or during the year ended December 31, 2020. Issuances of Common Stock and Common OP Units in Connection with the Acquisition of Certain Properties In December 2020, in connection with the acquisition of the Rybovich Portfolio, we issued 130,475 Common OP units. In October 2020, in connection with the acquisition of Safe Harbor, we issued 55,403 Common OP units. In May 2020, in connection with the acquisition of the Forest Springs community, we issued 82,420 Common OP units. Equity Interests - SHM South Fork JV, LLC In October 2020, in conjunction with the acquisition of Safe Harbor, we indirectly acquired $4.3 million of Safe Harbor's equity interest in SHM South Fork JV, LLC, a joint venture created for the purpose of acquiring land and constructing a marina in Fort Lauderdale, Florida. The Safe Harbor Equity Interests - SHM South Fork JV, LLC balance was $4.1 million and $4.3 million at the three months ended March 31, 2021 and the year December 31, 2020, respectively. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information. Issuance of Series E Preferred OP Units In January 2020, we issued 90,000 Series E preferred OP units in connection with the acquisition of Cape Cod RV Resort. The Series E preferred OP units have a stated issuance price of $100.00 per OP Unit and carry a preferred return of 5.25 percent until the second anniversary of the issuance date. Commencing with the second anniversary of the issuance date, the Series E Preferred OP Units carry a preferred return of 5.50 percent. Commencing the first anniversary of the issuance date, subject to certain limitations, each Series E Preferred OP Unit can be exchanged for our common stock equal to the quotient obtained by dividing $100.00 by $145.00 (as such ratio is subject to adjustments for certain capital events). As of March 31, 2021, 90,000 Series E preferred OP Units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Temporary Equity: Issuance of Series I Preferred OP Units - In December 2020, we issued 922,000 Series I preferred OP units in connection with the acquisition of the Rybovich Portfolio. The Series I preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 3.0 percent. Subject to certain limitations, at any time after the Series I issuance date, each Series I preferred OP unit can be exchanged for a number of shares of our common stock equal to the quotient obtained by dividing $100.00 by $164.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. Each holder may require redemption in cash after the fifth anniversary of the Series I issuance date or upon the holder's death. As of March 31, 2021, 922,000 Series I preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Issuance of Series H Preferred OP Units - In October 2020, we issued 581,407 Series H preferred OP units in connection with the acquisition of Safe Harbor. The Series H preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 3.0 percent. Subject to certain limitations, at any time after the Series H issuance date, each Series H preferred OP unit can be exchanged for a number of shares of our common stock equal to the quotient obtained by dividing $100.00 by $164.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. Each holder may require redemption in cash after the fifth anniversary of the Series H issuance date or upon the holder's death. As of March 31, 2021, 581,407 Series H preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Equity Interests - FPG Sun Menifee 80 LLC - In October 2020, in connection with investment in land for future development in the city of Menifee in California, at the property known as FPG Sun Menifee 80, LLC, Foremost Pacific Group, LLC, "FPG," purchased $0.1 million of common equity interest in the land (referred to as "Equity Interests - FPG Sun Menifee 80 LLC"). The Equity Interests - FPG Sun Menifee 80 LLC do not have a fixed maturity date. Upon the occurrence of certain events, either FPG or Sun FPG Venture LLC, our subsidiary, can trigger a process under which we may be required to purchase the Equity Interests - FPG Sun Menifee 80 LLC from FPG. The Equity Interests - FPG Sun Menifee 80 LLC balance was $0.1 million at the three months ended March 31, 2021 and December 31, 2020. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information. Issuance of Series G Preferred OP Units - In September 2020, we issued 260,710 Series G preferred OP units in connection with the acquisition of El Capitan & Ocean Mesa Resorts. The Series G preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 3.2 percent. Subject to certain limitations, at any time after the Series G issuance date, each Series G preferred OP unit can be exchanged for a number of shares of our common stock equal to the quotient obtained by dividing $100.00 by $155.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. Each holder may require redemption in cash after the fifth anniversary of the Series G issuance date or upon the holder's death. As of March 31, 2021, 240,710 Series G preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Issuance of Series F Preferred OP Units - In May 2020, we issued 90,000 Series F preferred OP units in connection with the acquisition of Forest Springs. The Series F preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 3.0 percent. Subject to certain limitations, at any time after the Series F issuance date, each Series F preferred OP unit can be exchanged for a number of shares of our common stock equal to the quotient obtained by dividing $100.00 by $160.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. Each holder may require redemption in cash after the fifth anniversary of the Series F issuance date or upon the holder's death. As of March 31, 2021, 90,000 Series F preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Equity Interests - NG Sun Whitewater LLC - In August 2019, in connection with the investment in land at the property known as Whitewater, NG Sun Whitewater LLC purchased $2.4 million of common equity interest in Sun NG Whitewater RV Resorts LLC (referred to as "Equity Interests - NG Sun Whitewater LLC"). The Equity Interests - NG Sun Whitewater LLC does not have a fixed maturity date. Upon the occurrence of certain events, either NG Sun Whitewater LLC or Sun NG LLC, our subsidiary, can trigger a process under which we may be required to purchase the Equity Interests - NG Sun Whitewater LLC from NG Sun Whitewater LLC. The Equity Interests - NG Sun Whitewater LLC balance was $5.1 million at the three months ended March 31, 2021 and year ended December 31, 2020. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information. Issuance of Series D Preferred OP Units - In February 2019, we issued 488,958 Series D preferred OP units in connection with the acquisition of Country Village Estates. The Series D preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 3.75 percent until the second anniversary of the issuance date. Commencing with the second anniversary of the issuance date, the Series D preferred OP units carry a preferred return of 4.0 percent. Commencing with the first anniversary of the issuance date, each Series D preferred OP unit can be exchanged for our common stock equal to the quotient obtained by dividing $100.00 by $125.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. The holders may require redemption in cash after the fifth anniversary of the Series D issuance date or upon the holder's death. As of March 31, 2021, 488,958 Series D preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information. Equity Interests - NG Sun LLC - In June 2018, in connection with the investment in Sun NG Resorts, unrelated third parties purchased $6.5 million of Series B preferred equity interests and $15.4 million of common equity interest in Sun NG Resorts (herein jointly referred to as "Equity Interest - NG Sun LLC"). In April and September 2020, in connection with the acquisitions of Glen Ellis RV Park and Lone Star RV Park, $3.0 million of Series B preferred equity interests were converted to common equity interests. The Series B preferred equity interests carry a preferred return at a rate that, at any time, is equal to the interest rate on Sun NG Resorts' indebtedness at such time. The current rate of return is 5.0 percent. The Equity Interests - NG Sun LLC does not have a fixed maturity date and can be redeemed in the fourth quarters of 2024, 2025 and 2026 at the holders' option. Sun NG LLC, our subsidiary, has the right during certain periods each year, with or without cause, or for cause at any time, to elect to buy NG Sun LLC's interest. During a limited period in 2022, NG Sun LLC has the right to put its interest to Sun NG LLC. If either party exercises their option, the property management agreement will be terminated, and we are required to purchase the remaining interests of NG Sun LLC and the property management agreement at fair value. Refer to Note 7, "Consolidated Variable Interest Entities," and Note 8, "Debt and Lines of Credit," for additional information. Conversions Conversions to Common Stock - Subject to certain limitations, holders can convert certain series of stock and OP units to shares of our common stock at any time. Below is the activity of conversions during the three months ended March 31, 2021 and 2020: Three Months Ended Three Months Ended March 31, 2021 March 31, 2020 Series Conversion Rate Units / Shares Converted Common Stock (1) Units / Shares Converted Common Stock (1) Common OP unit 1.0000 24,912 24,912 11,949 11,949 Series A-1 preferred OP unit 2.4390 4,316 10,525 6,677 16,283 (1) Calculation may yield minor differences due to rounding incorporated in the above numbers. Distributions Distributions declared for the three months ended March 31, 2021 were as follows: Distributions Record Date Payment Date Distribution Per Share Total Distribution (in Thousands) Common Stock, Common OP units and Restricted Stock 3/31/2021 4/15/2021 $ 0.83 $ 94,966

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	Share-Based Compensation As of March 31, 2021, we had two share-based compensation plans: the Sun Communities, Inc. 2015 Equity Incentive Plan ("2015 Equity Incentive Plan") and the First Amended and Restated 2004 Non-Employee Director Option Plan ("2004 Non-Employee Director Option Plan"). We believe granting equity awards will provide certain executives, key employees and directors additional incentives to promote our financial success and promote employee and director retention by providing an opportunity to acquire or increase the direct proprietary interest of those individuals in our operations and future. During the three months ended March 31, 2021 and 2020, shares were granted as follows: Grant Period Type Plan Shares Granted Grant Date Fair Value Per Share Vesting Type Vesting Anniversary Percentage 2021 Executive Officers 2015 Equity Incentive Plan 54,000 $ 151.89 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 81,000 (2) $ 99.49 (2) Market Condition 3rd 100.0 % 2021 Executive Officers 2015 Equity Incentive Plan 15,000 $ 151.89 (1) Time Based 33.3% annually over 3 years 2021 Executive Officers 2015 Equity Incentive Plan 15,000 (3) $ 99.49 (3) Market Condition 3rd 100.0 % 2021 Key Employees 2015 Equity Incentive Plan 28,856 $ 151.89 (1) Time Based 33.3% annually over 3 years 2021 Key Employees 2015 Equity Incentive Plan 61,550 $ 143.28 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 3,400 $ 147.19 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 5,100 (4) $ 96.41 (4) Market Condition 3rd 100.0 % 2021 Directors 2004 Non-Employee Director Option Plan 1,509 $ 147.19 (1) Time Based 3rd 100.0 % 2021 Directors 2004 Non-Employee Director Option Plan 10,200 $ 148.44 (1) Time Based 3rd 100.0 % 2020 Key Employees 2015 Equity Incentive Plan 13,873 $ 140.39 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 69,368 $ 137.63 (1) Time Based 20.0% annually over 5 years 2020 Key Employees 2015 Equity Incentive Plan 1,500 $ 143.20 (1) Time Based 20.0% annually over 5 years 2020 Key Employees 2015 Equity Incentive Plan 51,790 $ 162.42 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 46,000 $ 165.97 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 69,000 (5) $ 125.47 (5) Market Condition 3rd 100.0 % 2020 Directors 2004 Non-Employee Director Option Plan 10,200 $ 147.97 (1) Time Based 3rd 100.0 % (1) The fair values of the grants were determined by using the average closing price of our common stock on the dates the shares were issued. (2) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $151.89. Based on the Monte Carlo simulation we expect 65.5 percent of the 81,000 shares to vest. (3) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $151.89. Based on the Monte Carlo simulation we expect 65.5 percent of the 15,000 shares to vest. (4) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $147.19. Based on the Monte Carlo simulation we expect 65.5 percent of the 5,100 shares to vest. (5) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $165.97. Based on the Monte Carlo simulation we expect 75.6 percent of the 69,000 shares to vest. Vesting The vesting requirements for 252,153 and 144,231 restricted shares granted to our executives, directors and employees were satisfied during the three months ended March 31, 2021 and 2020, respectively. Stock Options During the three months ended March 31, 2021, 1,500 shares of common stock were issued in connection with the exercise of stock options with net proceeds of less than $0.1 million. There were no stock options outstanding as of March 31, 2021. During the three months ended March 31, 2020 , no stock options were exercised.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting ASC Topic 280, " Segment Reporting " ("ASC 280"), establishes standards for the way the business enterprises report information about operating segments in its financial statements. Effective January 1, 2021, we transitioned from a two-segment to a three-segment structure as a result of the recent acquisition of Safe Harbor and its internal organization. The new structure reflects how the chief operating decision maker manages the business, makes operating decisions, allocates resources and evaluates operating performance. This structure better align our operations with our strategic initiatives. Beginning with the results of the three months ended March 31, 2021, we are reporting our financial results consistent with our new segment structure and have recast prior comparative periods to align with the new segment structure. Our new structure aligns our Company around three reportable segments: (i) Manufactured home ("MH") communities, (ii) Recreational vehicle ("RV") resorts and (iii) Marinas. The MH segment owns, operates, develops, or has an interest in, a portfolio of MH communities and is in the business of acquiring, operating and developing ground up MH communities to provide affordable housing solutions to residents. The MH segment also provides manufactured home sales and leasing services to tenants and prospective tenants of our communities. The RV segment owns, operates, develops, or has an interest in, a portfolio of RV resorts and is in the business of acquiring, operating and developing ground up RV resorts throughout the U.S. and in Canada. It also provides leasing services for vacation rentals within the RV resorts. The Marinas segment owns, operates, has an interest in a portfolio, and develops marinas, and is in the business of acquiring, and operating marinas throughout the U.S. with the majority of such marinas concentrated in coastal regions and others located in various inland regions. Hybrid properties are classified to a segment based on the predominant site counts at the properties. A presentation of segment financial information is summarized as follows (in thousands): Three Months Ended March 31, 2021 March 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Operating revenues $ 245,474 $ 92,363 $ 95,587 $ 433,424 $ 221,161 $ 82,878 N/A $ 304,039 Property operating expenses 97,024 51,763 64,195 212,982 85,072 42,659 N/A 127,731 Net Operating Income $ 148,450 $ 40,600 $ 31,392 $ 220,442 $ 136,089 $ 40,219 N/A $ 176,308 Adjustments to arrive at net income / (loss) Interest income 2,631 2,350 Brokerage commissions and other revenues, net 5,960 3,913 General and administrative expense (38,203) (25,349) Catastrophic event-related charges, net (2,414) (606) Business combination expense (1,232) — Depreciation and amortization (123,304) (83,689) Loss on extinguishment of debt (see Note 8) — (3,279) Interest expense (39,517) (32,416) Interest on mandatorily redeemable preferred OP units / equity (1,036) (1,041) (Gain) / loss on remeasurement of marketable securities 3,661 (28,647) Gain / (loss) on foreign currency translation 25 (17,479) Other expense, net (1,099) (972) (Gain) / loss on remeasurement of notes receivable 376 (2,112) Income from nonconsolidated affiliates (see Note 6) 1,171 52 Loss on remeasurement of investment in nonconsolidated affiliates 104 (2,191) Current tax benefit / (expense) 229 (450) Deferred tax benefit (see Note 12) 147 130 Net Income / (Loss) 27,941 (15,478) Less: Preferred return to preferred OP units / equity 2,864 1,570 Less: Income / (Loss) attributable to noncontrolling interests 295 (962) Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders $ 24,782 $ (16,086) (1) Recast to reflect segment changes. March 31, 2021 December 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Identifiable Assets Investment property, net $ 4,828,033 $ 3,187,398 $ 1,895,719 $ 9,911,150 $ 4,823,174 $ 3,038,686 $ 1,853,931 $ 9,715,791 Cash, cash equivalents and restricted cash 71,119 38,695 10,360 120,174 53,152 28,919 10,570 92,641 Marketable securities 82,781 45,040 — 127,821 80,776 43,950 — 124,726 Inventory of manufactured homes 30,534 12,708 — 43,242 33,448 13,195 — 46,643 Notes and other receivables, net 149,187 56,264 43,558 249,009 144,027 44,002 33,621 221,650 Goodwill — — 438,842 438,842 — — 428,833 428,833 Other intangible assets, net 31,762 24,287 244,505 300,554 33,998 23,819 247,794 305,611 Other assets, net 155,201 39,198 69,018 263,417 184,917 38,075 47,699 270,691 Total Assets $ 5,348,617 $ 3,403,590 $ 2,702,002 $ 11,454,209 $ 5,353,492 $ 3,230,646 $ 2,622,448 $ 11,206,586 (1) Recast to reflect segment changes

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
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, as amended ("Code"). In order for us to qualify as a REIT, at least 95 percent of our gross income in any year must be derived from qualifying sources. In addition, a REIT must distribute annually at least 90 percent of its REIT taxable income (calculated without any deduction for dividends paid and excluding capital gain) to its stockholders and meet other tests. Qualification as a REIT involves the satisfaction of numerous requirements (on an annual and quarterly basis) established under highly technical and complex Code provisions for which there are 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 three months ended March 31, 2021. 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. Even if we qualify as a REIT, we may be subject to certain state and local income taxes as well as U.S. federal income and excise taxes on our undistributed income. In addition, taxable income from non-REIT activities managed through taxable REIT subsidiaries is subject to federal, state, and local income taxes. We are also subject to local income taxes in Canada as a result of the acquisition in 2016 of certain properties located in Canada. We do not provide for withholding taxes on our undistributed earnings from our Canadian subsidiaries as they are reinvested and will continue to be reinvested indefinitely outside of the U.S. However, we are subject to Australian withholding taxes on distributions from our investment in Ingenia Communities Group. Deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the basis 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 and basis differences between tax and GAAP. Our deferred tax assets that have a full valuation allowance relate to our taxable REIT subsidiaries. Net deferred tax liabilities of $20.4 million and $20.6 million for Canadian entities have been recorded in relation to corporate entities and included in other liabilities in our Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020, respectively. There are no U.S. federal deferred tax assets or liabilities included in our Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020. We had no unrecognized tax benefits as of March 31, 2021 and 2020. We do not expect significant changes in tax positions that would result in unrecognized tax benefits within one year of March 31, 2021. For the three months ended March 31, 2021 we recorded a current tax benefit for federal, state, and Canadian income taxes and Australian withholding taxes of $0.2 million. For the three months ended March 31, 2020 we recorded a current tax expense for federal, state and Canadian income taxes of $0.5 million. For the three months ended March 31, 2021 and 2020 we recorded a deferred tax benefi t of $147.0 thousand and $130.0 thousand , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period on a basic and diluted basis. We calculate diluted earnings per share using the more dilutive of the treasury stock method and the two-class method. From time to time, we enter into forward equity sales agreements, which are discussed in Note 9, "Equity and Temporary Equity," We considered the potential dilution resulting from the forward equity sales agreements on the EPS calculations. At inception, the agreements do not have an effect on the computation of basic EPS as no shares are delivered until settlement. The common shares issued upon the settlement of the forward equity sales agreements, weighted for the period these common shares are outstanding, are usually included in the denominator of basic EPS. To determine the dilution resulting from the forward equity sales agreements during the period of time prior to settlement, we calculate the number of weighted-average shares outstanding – diluted. Our potentially dilutive securities include potential common shares related to our forward equity offerings, our unvested restricted common shares, and our Operating Partnership outstanding common OP units, Series A-1 preferred OP units, Series A-3 preferred OP units, Series C preferred OP units, Series D preferred OP units, Series E preferred OP units, Series F preferred OP units, Series G preferred OP units, Series H preferred OP units, Series I preferred OP units and Aspen preferred OP Units, which, if converted or exercised, may impact dilution. Diluted earnings per share considers the impact of potentially dilutive securities except when the potential common shares have an antidilutive effect. Our unvested restricted stock common shares contain rights to receive non-forfeitable dividends and participate equally with common stock with respect to dividends issued or declared, and thus, are participating securities, requiring the two-class method of computing earnings per share. The two-class method determines earnings per share by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares of common stock outstanding for the period. In calculating the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average number of shares outstanding during the period. The remaining potential dilutive common shares do not contain rights to dividends and are included in the computation of diluted earnings per share. Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): Three Months Ended March 31, 2021 March 31, 2020 Numerator Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders $ 24,782 $ (16,086) Less: allocation to restricted stock awards 152 (254) Basic earnings - Net Income / (Loss) attributable to common stockholders after allocation to restricted stock awards $ 24,630 $ (15,832) Add allocation to restricted stock awards — — Diluted earnings - Net Income / (Loss) attributable to common stockholders after allocation to restricted stock awards (1) $ 24,630 $ (15,832) Denominator Weighted average common shares outstanding 107,932 92,410 Add: common shares dilutive effect: March 2021 Forward Equity Offering 229 — Add: dilutive stock options — 1 Diluted weighted average common shares and securities (1) 108,161 92,411 Earnings Per Share Available to Common Stockholders After Allocation Basic earnings / (losses) per share $ 0.23 $ (0.17) Diluted earnings / (losses) per share (1) $ 0.23 $ (0.17) (1) For the three months ended March 31, 2021 and 2020, diluted earnings per share was calculated using the two-class method as the application of this method resulted in a more dilutive earnings per share for those periods. We have excluded certain convertible securities from the computation of diluted earnings per share because the inclusion of those 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 as of March 31, 2021 and 2020 (in thousands): As of March 31, 2021 March 31, 2020 Common OP units 2,596 2,408 A-1 preferred OP units 716 303 A-3 preferred OP units 75 40 Aspen preferred OP units 406 1,284 Series C preferred OP units 340 310 Series D preferred OP units 391 489 Series E preferred OP units 62 90 Series F preferred OP units 56 — Series G preferred OP units 155 — Series H preferred OP units 355 — Series I preferred OP units 562 — Total Securities 5,714 4,924

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Of Financial Instruments	Fair Value of Financial Instruments Our financial instruments consist primarily of cash, cash equivalents and restricted cash, marketable securities, notes and other receivables, debt, and other liabilities. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures, pursuant to FASB ASC 820, " Fair Value Measurements and 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: ASC Topic 820 " Fair Value Measurements and Disclosures ," requires disclosure regarding determination of fair value 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 our 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 that we have the ability to access; 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 (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severity, etc.) in active markets or can be corroborated by observable market data; and Level 3 - Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The unobservable inputs reflect our assumptions about the assumptions that market participants would use. Assets by Hierarchy Level The table below sets forth our financial assets and liabilities (in thousands) that required disclosure of fair value on a recurring basis as of March 31, 2021. The table presents the carrying values and fair values of our financial instruments as of March 31, 2021 and December 31, 2020, that were measured using the valuation techniques described above. The table excludes other financial instruments such as cash and cash equivalents, other receivables and accounts payable as the carrying values associated with these instruments approximate their fair value since their maturities are less than one year. As of March 31, 2021 Financial Assets Carrying Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Marketable securities $ 127,821 $ 127,821 $ — $ — $ 127,821 Installment notes receivable on manufactured homes, net 84,109 — — 84,109 84,109 Notes receivable from real estate developers 58,286 — — 58,286 58,286 Total assets measured at fair value $ 270,216 $ 127,821 $ — $ 142,395 $ 270,216 Financial Liabilities Debt $ 3,500,332 $ — $ 3,500,332 $ — $ 3,428,244 Lines of credit and other debt 917,603 — 917,603 — 917,603 Other liabilities (contingent consideration) 18,156 — — 18,156 18,156 Total liabilities measured at fair value $ 4,436,091 $ — $ 4,417,935 $ 18,156 $ 4,364,003 As of Year Ended December 31, 2020 Financial Assets Carrying Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Marketable securities $ 124,726 $ 124,726 $ — $ — $ 124,726 Installment notes receivable on manufactured homes, net 85,866 — 85,866 — 85,866 Notes receivable from real estate developers 52,638 — 52,638 — 52,638 Total assets measured at fair value $ 263,230 $ 124,726 $ 138,504 $ — $ 263,230 Financial Liabilities Debt $ 3,514,879 $ — $ 3,514,879 $ — $ 3,613,797 Lines of credit and other debt 1,242,197 — 1,242,197 — 1,242,197 Other liabilities (contingent consideration) 15,842 — — 15,842 15,842 Total liabilities measured at fair value $ 4,772,918 $ — $ 4,757,076 $ 15,842 $ 4,871,836 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: Marketable Securities Marketable securities held by us and accounted for under the ASC 321 " Investment Equity Securities " are measured at fair value. Any change in fair value is recognized in the Consolidated Statement of Operations in Remeasurement of marketable securities in accordance with ASU 2016-01 " Financial Instruments - Overall (Subtopic 825-10): Recognition and measurement of financial assets and financial liabilities ." The fair value is measured by the quoted unadjusted share price which is readily available in active markets (Level 1). The change in the marketable securities balance is as follows (in thousands): As of As of Three Months Ended Year Ended March 31, 2021 December 31, 2020 Beginning Balance $ 124,725 $ 94,727 Additional purchase — 11,757 Change in fair value measurement 3,578 6,132 Foreign currency translation adjustment (1,678) 10,138 Dividend reinvestment, net of tax 1,196 1,971 Ending Balance $ 127,821 $ 124,725 Installment Notes Receivable on Manufactured Homes Installment notes receivable on manufactured homes are recorded at fair value and are measured using model-derived indicative pricing using primarily unobservable inputs, inclusive of default rates, interest rates and recovery rates (Level 3). Refer to Note 4, "Notes and Other Receivables," for additional information. Notes Receivable from Real Estate Developers Notes receivable from real estate developers are recorded at fair value and are measured using primarily unobservable inputs including interest rates and counterparty performance (Level 3). The carrying values of the notes generally approximate their fair market values either due to the nature of the note and / or the note being secured by underlying collateral and / or personal guarantees. Refer to Note 4, "Notes and Other Receivables," for additional information. Long-Term Debt and Lines of Credit The fair value of long-term debt 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). Refer to Note 8, "Debt and Lines of Credit," for additional information. We have variable rates on our credit facilities and the revolving loans under our senior credit facility and the Safe Harbor credit facility. The fair value of the debt with variable rates approximates carrying value as the interest rates of these amounts approximate market rates. The estimated fair value of our indebtedness as of March 31, 2021, approximated its gross carrying value. Financial Liabilities We estimate the fair value of our contingent consideration liability based on valuation models using significant unobservable inputs that generally consider discounting of future cash flows using market interest rates and adjusting for non-performance risk over the remaining term of the liability (Level 3). Other Financial Instruments The carrying values of cash and cash equivalents, other receivables and accounts payable approximate their fair market values due to the short-term nature of those instruments. These are classified as Level 1 in the hierarchy. Level 3 Reconciliation, Measurements and Transfers We review the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. Availability of secondary market activity and consistency of pricing from third-party sources impacts our ability to classify securities as Level 2 or Level 3. Our assessment resulted in a net transfer into Level 3 of $138.5 million related to installment notes receivable on manufactured homes and notes from real estate developers during the three months ended March 31, 2021. Inputs that are used to derive the fair value for installment notes receivables on manufactured homes and notes receivable from real estate developers transferred to Level 3 from Level 2 during the quarter ended March 31, 2021 as significant inputs used to value those instruments inclusive of default rates, interest rates, recovery rates, and counterparty performance rely heavily on internally sourced assumptions as opposed to observable market-based inputs. The following tables summarize changes to our financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the three months ended March 31, 2021 (in thousands): Installment Notes Receivable on Manufactured Homes, net Notes Receivable From Real Estate Developers Other Liabilities (Contingent Consideration) Level 3 beginning balance at December 31, 2020 $ — $ — $ 15,842 Transfer to level 3 85,866 52,638 — Transfer out of level 3 — — — Net earnings (loss) 375 — 71 Purchases and issuances 1,212 6,793 3,201 Sales and settlements (3,814) (262) — Other adjustments 470 (883) (958) Level 3 ending balance at March 31, 2021 $ 84,109 $ 58,286 $ 18,156 Although we have determined the estimated fair value amounts using available market information and commonly accepted valuation methodologies, considerable judgement is required in interpreting market data to develop fair value estimates. The fair value estimates are based on information available as of March 31, 2021. As such, our estimates of fair value could differ significantly from the actual carrying value.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies Legal Proceedings 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.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases We lease land under non-cancelable operating leases at 33 properties expiring at various dates through year 2085. The majority of the leases have terms requiring fixed payments plus additional rents based on a percentage of revenues at those properties. We also have other operating leases, primarily office space and equipment expiring at various dates through 2026. Lessee Accounting Future minimum lease payments under non-cancellable leases as of the three months ended March 31, 2021 where we are the lessee include: Maturity of Lease Liabilities (in thousands) Operating Leases Finance Leases Total 2021 (Excluding three months ended March 31, 2021) $ 3,879 $ 208 $ 4,087 2022 4,741 213 4,954 2023 4,771 178 4,949 2024 5,144 4,063 9,207 2025 5,175 — 5,175 Thereafter 55,533 — 55,533 Total Lease Payments $ 79,243 $ 4,662 $ 83,905 Less: Imputed interest (32,734) (335) (33,069) Present Value of Lease Liabilities $ 46,509 $ 4,327 $ 50,836 Right-of-use (ROU) assets and lease liabilities for finance and operating leases as included in our Consolidated Balance Sheets are as follows (in thousands): Description Financial Statement Classification As of As of Lease Assets ROU asset obtained in exchange for new finance lease liabilities Investment property, net $ 4,368 $ 4,350 ROU asset obtained in exchange for new operating lease liabilities Other assets, net $ 59,272 $ 48,419 ROU asset obtained relative to below market operating lease Other assets, net $ 27,426 $ 27,614 Lease Liabilities Finance lease liabilities Other liabilities $ 4,327 $ 4,334 Operating lease liabilities Other liabilities $ 46,509 $ 49,964 Lease expense for finance and operating leases as included in our Consolidated Statements of Operations are as follows (in thousands): Three Months Ended Description Financial Statement Classification March 31, 2021 March 31, 2020 Finance Lease Expense Amortization of ROU assets Interest expense $ 6 $ (18) Interest on lease liabilities Interest expense 26 26 Operating lease cost General and administrative expense, Property operating and maintenance 2,148 974 Variable lease cost Property operating and maintenance 1,299 369 Short term lease cost Property operating and maintenance 61 — Total Lease Expense $ 3,540 $ 1,351 Lease term, discount rates and additional information for finance and operating leases are as follows: As of Lease Term and Discount Rate March 31, 2021 Weighted-average Remaining Lease Terms (years) Finance lease 2.43 Operating lease 25.90 Weighted-average Discount Rate Finance lease 2.44 % Operating lease 3.80 % Three Months Ended Other Information (in thousands) March 31, 2021 March 31, 2020 Cash Paid For Amounts Included In The Measurement of Lease Liabilities Operating cash flow from operating leases $ 945 $ 590 Financing cash flow from finance leases 33 8 Total Cash Paid On Lease Liabilities $ 978 $ 598 Lessor Accounting We are not the lessor for any finance leases at our MH, RV or marina properties as of March 31, 2021. Over 95 percent of our operating leases at our MH and RV properties where we are the lessor are either month to month or for a time period not to exceed one year. As of March 31, 2021, future minimum lease payments would not exceed 12 months. Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the three months ended March 31, 2021 where we are the lessor include: Maturity of Lease Liabilities (in thousands) Operating Leases 2021 (Excluding three months ended March 31, 2021) $ 8,261 2022 6,951 2023 5,039 2024 2,090 2025 1,220 Thereafter 2,628 Total Undiscounted Cash Flows $ 26,189 The components of lease income were as follows (in thousands): Three Months Ended Description March 31, 2021 March 31, 2020 Operating Leases Fixed lease income $ 3,657 $ 311 Variable lease income $ 1,028 $ 397
Leases	Leases We lease land under non-cancelable operating leases at 33 properties expiring at various dates through year 2085. The majority of the leases have terms requiring fixed payments plus additional rents based on a percentage of revenues at those properties. We also have other operating leases, primarily office space and equipment expiring at various dates through 2026. Lessee Accounting Future minimum lease payments under non-cancellable leases as of the three months ended March 31, 2021 where we are the lessee include: Maturity of Lease Liabilities (in thousands) Operating Leases Finance Leases Total 2021 (Excluding three months ended March 31, 2021) $ 3,879 $ 208 $ 4,087 2022 4,741 213 4,954 2023 4,771 178 4,949 2024 5,144 4,063 9,207 2025 5,175 — 5,175 Thereafter 55,533 — 55,533 Total Lease Payments $ 79,243 $ 4,662 $ 83,905 Less: Imputed interest (32,734) (335) (33,069) Present Value of Lease Liabilities $ 46,509 $ 4,327 $ 50,836 Right-of-use (ROU) assets and lease liabilities for finance and operating leases as included in our Consolidated Balance Sheets are as follows (in thousands): Description Financial Statement Classification As of As of Lease Assets ROU asset obtained in exchange for new finance lease liabilities Investment property, net $ 4,368 $ 4,350 ROU asset obtained in exchange for new operating lease liabilities Other assets, net $ 59,272 $ 48,419 ROU asset obtained relative to below market operating lease Other assets, net $ 27,426 $ 27,614 Lease Liabilities Finance lease liabilities Other liabilities $ 4,327 $ 4,334 Operating lease liabilities Other liabilities $ 46,509 $ 49,964 Lease expense for finance and operating leases as included in our Consolidated Statements of Operations are as follows (in thousands): Three Months Ended Description Financial Statement Classification March 31, 2021 March 31, 2020 Finance Lease Expense Amortization of ROU assets Interest expense $ 6 $ (18) Interest on lease liabilities Interest expense 26 26 Operating lease cost General and administrative expense, Property operating and maintenance 2,148 974 Variable lease cost Property operating and maintenance 1,299 369 Short term lease cost Property operating and maintenance 61 — Total Lease Expense $ 3,540 $ 1,351 Lease term, discount rates and additional information for finance and operating leases are as follows: As of Lease Term and Discount Rate March 31, 2021 Weighted-average Remaining Lease Terms (years) Finance lease 2.43 Operating lease 25.90 Weighted-average Discount Rate Finance lease 2.44 % Operating lease 3.80 % Three Months Ended Other Information (in thousands) March 31, 2021 March 31, 2020 Cash Paid For Amounts Included In The Measurement of Lease Liabilities Operating cash flow from operating leases $ 945 $ 590 Financing cash flow from finance leases 33 8 Total Cash Paid On Lease Liabilities $ 978 $ 598 Lessor Accounting We are not the lessor for any finance leases at our MH, RV or marina properties as of March 31, 2021. Over 95 percent of our operating leases at our MH and RV properties where we are the lessor are either month to month or for a time period not to exceed one year. As of March 31, 2021, future minimum lease payments would not exceed 12 months. Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the three months ended March 31, 2021 where we are the lessor include: Maturity of Lease Liabilities (in thousands) Operating Leases 2021 (Excluding three months ended March 31, 2021) $ 8,261 2022 6,951 2023 5,039 2024 2,090 2025 1,220 Thereafter 2,628 Total Undiscounted Cash Flows $ 26,189 The components of lease income were as follows (in thousands): Three Months Ended Description March 31, 2021 March 31, 2020 Operating Leases Fixed lease income $ 3,657 $ 311 Variable lease income $ 1,028 $ 397
Leases	Lessee Accounting Future minimum lease payments under non-cancellable leases as of the three months ended March 31, 2021 where we are the lessee include: Maturity of Lease Liabilities (in thousands) Operating Leases Finance Leases Total 2021 (Excluding three months ended March 31, 2021) $ 3,879 $ 208 $ 4,087 2022 4,741 213 4,954 2023 4,771 178 4,949 2024 5,144 4,063 9,207 2025 5,175 — 5,175 Thereafter 55,533 — 55,533 Total Lease Payments $ 79,243 $ 4,662 $ 83,905 Less: Imputed interest (32,734) (335) (33,069) Present Value of Lease Liabilities $ 46,509 $ 4,327 $ 50,836 Right-of-use (ROU) assets and lease liabilities for finance and operating leases as included in our Consolidated Balance Sheets are as follows (in thousands): Description Financial Statement Classification As of As of Lease Assets ROU asset obtained in exchange for new finance lease liabilities Investment property, net $ 4,368 $ 4,350 ROU asset obtained in exchange for new operating lease liabilities Other assets, net $ 59,272 $ 48,419 ROU asset obtained relative to below market operating lease Other assets, net $ 27,426 $ 27,614 Lease Liabilities Finance lease liabilities Other liabilities $ 4,327 $ 4,334 Operating lease liabilities Other liabilities $ 46,509 $ 49,964 Lease expense for finance and operating leases as included in our Consolidated Statements of Operations are as follows (in thousands): Three Months Ended Description Financial Statement Classification March 31, 2021 March 31, 2020 Finance Lease Expense Amortization of ROU assets Interest expense $ 6 $ (18) Interest on lease liabilities Interest expense 26 26 Operating lease cost General and administrative expense, Property operating and maintenance 2,148 974 Variable lease cost Property operating and maintenance 1,299 369 Short term lease cost Property operating and maintenance 61 — Total Lease Expense $ 3,540 $ 1,351 Lease term, discount rates and additional information for finance and operating leases are as follows: As of Lease Term and Discount Rate March 31, 2021 Weighted-average Remaining Lease Terms (years) Finance lease 2.43 Operating lease 25.90 Weighted-average Discount Rate Finance lease 2.44 % Operating lease 3.80 % Three Months Ended Other Information (in thousands) March 31, 2021 March 31, 2020 Cash Paid For Amounts Included In The Measurement of Lease Liabilities Operating cash flow from operating leases $ 945 $ 590 Financing cash flow from finance leases 33 8 Total Cash Paid On Lease Liabilities $ 978 $ 598 Lessor Accounting We are not the lessor for any finance leases at our MH, RV or marina properties as of March 31, 2021. Over 95 percent of our operating leases at our MH and RV properties where we are the lessor are either month to month or for a time period not to exceed one year. As of March 31, 2021, future minimum lease payments would not exceed 12 months. Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the three months ended March 31, 2021 where we are the lessor include: Maturity of Lease Liabilities (in thousands) Operating Leases 2021 (Excluding three months ended March 31, 2021) $ 8,261 2022 6,951 2023 5,039 2024 2,090 2025 1,220 Thereafter 2,628 Total Undiscounted Cash Flows $ 26,189 The components of lease income were as follows (in thousands): Three Months Ended Description March 31, 2021 March 31, 2020 Operating Leases Fixed lease income $ 3,657 $ 311 Variable lease income $ 1,028 $ 397

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements - Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform" (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional guidance for accounting for contracts, hedging relationships, and other transactions affected by the reference rate reform, if certain criteria are met. The provisions of this standard are available for election through December 31, 2022. We are currently evaluating the impact that ASU 2020-04 may have on our Consolidated Financial Statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Debt - "Debt with Conversion and Other Options" (Subtopic 470-20) and "Derivatives and Hedging - Contracts in Entity's Own Equity" (Subtopic 815-40): "Accounting for Convertible Instruments and Contracts in an Entity's Own Equity" ("ASU 2020-06"), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, " Debt: Debt with Conversion and Other Options ," which requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer's own stock and classified in stockholders' equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, " Earnings Per Share ," to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. We are currently evaluating the impact that ASU 2020-06 may have on our Consolidated Financial Statements and related disclosure.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Shelf Registration Statement on Form S-3 Subsequent to the quarter ended March 31, 2021, on April 5, 2021, in connection with the expiration of our universal shelf registration statement on Form S-3, that was filed with the SEC on April 6, 2018, we filed a new universal shelf registration statement on Form S-3 with the SEC, which was deemed automatically effective and which provides for the registration of unspecified amounts of equity and debt securities. However, there can be no assurance that we will be able to complete any such offerings of securities in the future. Acquisitions Subsequent to the quarter ended March 31, 2021, we acquired an RV resort in Davenport, Florida with 148 developed sites for a total purchase price of $25.0 million. Subsequent to the quarter ended March 31, 2021 , we acquired a MH community located in Brighton, Michigan with 476 MH sites for a total purchase price of $24.0 million. In conjunction with the acquisition, the Operating Partnership created a new class of OP units, named Series J preferred units. As of April 21, 2021, 240,000 Series J preferred OP units were outstanding. The Series J preferred OP units have an issuance price of $100.00 and carry a preferred return of 2.85 percent per year. Subject to certain limitations, each Series J preferred OP unit is exchangeable at any time into that number of shares of the Company's common stock equal to the quotient obtained by dividing $100.00 by $165.00 (as such ratio is subject to adjustment for certain capital events). The holder may require redemption in cash (i) during the 30-day period following a change of control of the Company or (ii) any time after the fifth anniversary of the issuance date of the Series J preferred OP units. We have evaluated our Consolidated Financial Statements for subsequent events through the date that this Form 10-Q was issued.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables details our revenue by major source (in thousands): Three Months Ended March 31, 2021 March 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Revenues Real property $ 198,278 $ 81,102 $ 51,233 $ 330,613 $ 183,326 $ 75,023 N/A $ 258,349 Home sales 45,332 6,867 — 52,199 35,782 4,805 N/A 40,587 Service, retail, dining and entertainment 1,864 4,394 44,354 50,612 2,053 3,050 N/A 5,103 Interest 2,086 537 8 2,631 1,999 351 N/A 2,350 Brokerage commissions and other, net 2,520 2,895 545 5,960 2,099 1,814 N/A 3,913 Total Revenues $ 250,080 $ 95,795 $ 96,140 $ 442,015 $ 225,259 $ 85,043 N/A $ 310,302

Real Estate Acquisitions (Table

Real Estate Acquisitions (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	During the three months ended March 31, 2021, we acquired the following communities, resorts and marinas: Community Name Type Sites, State Month Acquired Association Island KOA RV: asset acquisition 294 NY January Blue Water Beach Resort RV: asset acquisition 177 UT February Tranquility MHC MH: asset acquisition 25 FL February Islamorada and Angler House (1) Marina: asset acquisition 251 FL February Prime Martha's Vineyard (1) Marina: asset acquisition 390 MA March Pleasant Beach Campground RV: asset acquisition 102 ON March Cherrystone Family Camping Resort RV: asset acquisition 669 VA March Beachwood Resort RV: asset acquisition 672 WA March Total 2,580 (1) Includes two marinas	For the year ended December 31, 2020, we acquired the following communities, resorts, and marinas. Community Name Type Sites, Wet Slips and Dry Storage Spaces Development Sites State Month Acquired Cape Cod (1) RV: asset acquisition 230 — MA January Jellystone Natural Bridge RV: asset acquisition 299 — VA February Forest Springs (2) MH: asset acquisition 372 — CA May Crown Villa RV: asset acquisition 123 — OR June Flamingo Lake RV: asset acquisition 421 — FL July Woodsmoke RV: asset acquisition 300 — FL September Jellystone Lone Star RV: asset acquisition 344 — TX September El Capitan & Ocean Mesa (3)(4) RV: asset acquisition 266 109 CA September Highland Green Estates & Troy Villa (5) MH: asset acquisition 1,162 — MI September Safe Harbor Marinas (6) Marina: business combination 37,305 — Various October Safe Harbor Hideaway Bay (7) Marina: business combination 628 — GA November Gig Harbor RV: asset acquisition 115 — WA November Maine MH Portfolio (8) MH: asset acquisition 1,083 — ME November Safe Harbor Anacapa Isle (7) Marina: business combination 453 — CA December Mears Annapolis Marina: asset acquisitions 184 — MD December Wickford Marina: asset acquisitions 60 — RI December Rybovich Portfolio (9) Marina: business combination 78 — FL December Rockland Marina: asset acquisitions 173 — ME December Mouse Mountain MH / RV: asset acquisition 304 — FL December Lakeview Mobile Estates MH: asset acquisition 296 — CA December Shenandoah Acres RV: asset acquisition 522 — VA December Jellystone at Barton Lake RV: asset acquisition 555 — IN December Kittatinny Portfolio (4) RV: asset acquisition 527 — NY & PA December Total 45,800 109 (1) In conjunction with the acquisition, we issued Series E preferred OP units. As of December 31, 2020, 90,000 Series E preferred OP units were outstanding. (2) In conjunction with the acquisition, we issued Series F preferred OP units and common OP units. As of December 31, 2020, 90,000 Series F preferred OP units, specific to this acquisition, were outstanding. (3) In conjunction with the acquisition, we issued Series G preferred OP units. As of December 31, 2020, 240,710 Series G preferred OP units were outstanding. (4) Includes two RV resorts. (5) Includes two communities. (6) Includes 99 owned marinas located in 22 states. In conjunction with the acquisition, we issued Series H preferred OP units. As of December 31, 2020, 581,407 Series H preferred OP units were outstanding. (7) Acquired in connection with Safe Harbor Marinas acquisition. Transfer of marinas was contingent on receiving third party consents. (8) Includes six communities. (9) Includes two marinas. In conjunction with the acquisition, we issued Series I preferred OP units. As of December 31, 2020, 922,000 Series I preferred OP units were outstanding.
Schedule of Purchase Price Allocation	The following table summarizes the amount of assets acquired, net of liabilities assumed at the acquisition date and the consideration paid for the MH community, RV resort and marina acquisitions completed during the three months ended March 31, 2021 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes, boat parts In-place leases and other intangible assets Other assets / (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Total consideration Association Island KOA $ 14,965 $ — $ 41 $ (248) $ 14,758 $ 14,758 $ 14,758 Blue Water Beach Resort 9,000 — — (151) 8,849 8,849 8,849 Tranquility MHC 1,250 — — (1) 1,249 1,249 1,249 Islamorada and Angler House 18,001 22 269 (317) 17,975 17,975 17,975 Prime Martha's Vineyard (1) 22,258 138 127 (573) 21,950 21,950 21,950 Pleasant Beach Campground 1,588 — — 1 1,589 1,589 1,589 Cherrystone Family Camping Resort 59,900 — — (2,029) 57,871 57,871 57,871 Beachwood Resort 7,000 — — (401) 6,599 6,599 6,599 Total $ 133,962 $ 160 $ 437 $ (3,719) $ 130,840 $ 130,840 $ 130,840 (1) Includes two marinas.	The following table summarizes the amounts of assets acquired, net of liabilities assumed at the acquisition date and the consideration paid for the acquisitions completed in 2020 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes, boat parts Goodwill, In-place leases and other intangible assets Other assets / (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Debt assumed Temporary and permanent equity Total consideration Asset Acquisition Cape Cod $ 13,350 $ — $ 150 $ (295) $ 13,205 $ 4,205 $ — $ 9,000 $ 13,205 Jellystone Natural Bridge 11,364 — 80 (391) 11,053 11,053 — — 11,053 Forest Springs 51,949 1,337 2,160 (107) 55,339 36,260 — 19,079 55,339 Crown Villa 16,792 — — (230) 16,562 16,562 — — 16,562 Flamingo Lake 34,000 — — (155) 33,845 33,845 — — 33,845 Woodsmoke 25,120 40 840 (461) 25,539 25,539 — — 25,539 Jellystone Lone Star 21,000 — — (703) 20,297 20,297 — — 20,297 El Capitan & Ocean Mesa 69,690 — — (10,321) 59,369 32,108 — 27,261 59,369 Highland Green Estates & Troy Villa 60,988 1,679 2,030 (15) 64,682 64,682 — — 64,682 Gig Harbor 15,250 — — (22) 15,228 15,228 — — 15,228 Maine MH Portfolio 79,890 — 1,359 30 81,279 72,479 8,800 — 81,279 Mears Annapolis 24,354 — 6,922 (546) 30,730 30,730 — — 30,730 Wickford 3,468 — 42 (121) 3,389 3,389 — — 3,389 Rockland 15,082 348 101 (368) 15,163 15,163 — — 15,163 Mouse Mountain 15,221 — 279 (4) 15,496 15,496 — — 15,496 Lakeview Mobile Estates 22,917 195 638 (72) 23,678 23,678 — — 23,678 Shenandoah Acres 16,166 — 834 (197) 16,803 16,803 — — 16,803 Jellystone at Barton Lake 23,462 — 538 (397) 23,603 23,603 — — 23,603 Kittatinny Portfolio 16,220 — 30 29 16,279 16,279 — — 16,279 Business Combination (1) Safe Harbor Marinas (3) 1,643,879 5,700 418,033 (26,831) 2,040,781 1,141,797 829,000 69,984 2,040,781 Hideaway Bay (3) 26,218 23 7,242 (1,077) 32,406 32,406 — — 32,406 Anacapa Isle (3) 10,924 — 3,146 60 14,130 14,130 — — 14,130 Rybovich Portfolio (2)(3) 122,064 620 249,840 (37) 372,487 258,123 — 114,364 372,487 Total $ 2,339,368 $ 9,942 $ 694,264 $ (42,231) $ 3,001,343 $ 1,923,855 $ 837,800 $ 239,688 $ 3,001,343 (1) Refer to Note 5, "Goodwill and Other Intangibles Assets," for additional detail on goodwill and other intangible assets. (2) Purchase price allocations were preliminary as of December 31, 2020 and were adjusted as of March 31, 2021 based on revised purchase price allocations. (3) Allocations are preliminary and may change based on final purchase price allocations.
Business Acquisition, Pro Forma Information

Notes And Other Receivables (Ta

Notes And Other Receivables (Tables)	3 Months Ended
	Mar. 31, 2021
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract]
Schedule of notes and other receivables	The following table sets forth certain information regarding notes and other receivables (in thousands): March 31, 2021 December 31, 2020 Installment notes receivable on manufactured homes, net $ 84,109 $ 85,866 Notes receivable from real estate developers 58,286 52,638 Other receivables, net 106,614 83,146 Total Notes and Other Receivables, net $ 249,009 $ 221,650
Schedule of Installment Notes Receivable	The change in the aggregate balance of the installment notes receivable is as follows (in thousands): Three Months Ended Year Ended March 31, 2021 December 31, 2020 Beginning balance of gross installment notes receivable $ 87,142 $ 96,225 Financed sale of manufactured homes 1,212 5,014 Adjustment for notes receivable related to assets held for sale 477 (477) Principal payments and payoffs from our customers (2,849) (8,977) Principal reduction from repossessed homes (965) (4,643) Ending balance of gross installment notes receivable 85,017 87,142 Beginning balance of allowance for losses on installment notes receivables — (645) Initial fair value option adjustment — 645 Ending balance of allowance for losses on installment notes receivables — — Beginning balance of fair value adjustments on gross installment notes receivable (1,276) — Initial fair value option adjustment — 991 Adjustment for notes receivable related to assets held for sale (7) 7 Fair value adjustment 375 (2,274) Fair value adjustments on gross installment notes receivable (908) (1,276) Ending balance of installment notes receivable, net $ 84,109 $ 85,866

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of Finite-Lived Intangible Assets	The gross carrying amounts and accumulated amortization of our intangible assets are as follows (in thousands): March 31, 2021 December 31, 2020 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill Indefinite $ 438,842 N/A $ 428,833 N/A In-place leases (1) Expected term 149,109 (102,521) 145,531 (92,327) Non-competition agreements 5 years 10,000 (500) 10,000 — Trademarks and trade names Various (2) 116,500 (208) 116,500 — Customer relationships 7 - 10 years 107,958 (3,983) 108,000 (2,371) Franchise agreements and other intangible assets 5.5 - 20 years 28,266 (4,067) 23,856 (3,578) Total $ 850,675 $ (111,279) $ 832,720 $ (98,276)
Schedule of Intangible Assets Amortization Expense	Amortization expenses related to the Other intangible assets are as follows (in thousands): Three Months Ended Intangible Asset Amortization Expense March 31, 2021 March 31, 2020 In-place leases $ 9,816 $ 3,451 Non-competition agreements 500 — Trademarks and trade names 208 — Customer relationships 1,611 — Franchise fees and other intangible assets 490 205 Total $ 12,625 $ 3,656
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	We anticipate amortization expense for Other intangible assets to be as follows for the next five years (in thousands): Remainder 2021 2022 2023 2024 2025 In-place leases $ 18,532 $ 11,145 $ 7,701 $ 5,408 $ 4,844 Non-competition agreements 1,500 2,000 2,000 2,000 2,000 Trademarks and trade names 625 833 833 — — Customer relationships 8,128 10,837 10,837 10,837 10,837 Franchise agreements and other intangible assets 1,676 1,962 1,933 1,879 1,872 Total $ 30,461 $ 26,777 $ 23,304 $ 20,124 $ 19,553

Investment In Affiliates (Table

Investment In Affiliates (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The investment balance in each nonconsolidated affiliate is as follows (in thousands): Investment March 31, 2021 December 31, 2020 Investment in RezPlot $ 2,561 $ 3,047 Investment in Sungenia JV 27,337 26,890 Investment in GTSC 28,747 25,495 Investment in OFS 181 152 Investment in SV Lift 3,373 3,490 Total $ 62,199 $ 59,074 The income / (loss) from each nonconsolidated affiliate is as follows (in thousands): Three Months Ended Income / (Loss) from Nonconsolidated Affiliates March 31, 2021 March 31, 2020 RezPlot equity loss $ (487) $ (500) Sungenia JV equity income / (loss) 734 (115) GTSC equity income 1,181 760 OFS equity income 29 38 SV Lift equity loss (286) (131) Total Income from Nonconsolidated Affiliates $ 1,171 $ 52

Consolidated Variable Interes_2

Consolidated Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2021
DisclosureofVariableInterestEntities [Abstract]
Schedule of Variable Interest Entities	The following table summarizes the assets and liabilities of Sun NG Resorts, Rudgate, Sun NG Whitewater RV Resorts LLC. FPG Sun Menifee 80 LLC and SHM South Fork JV, LLC included in our Consolidated Balance Sheets after eliminations (in thousands): March 31, 2021 December 31, 2020 Assets Investment property, net $ 479,196 $ 438,918 Other assets, net 31,820 24,554 Total Assets $ 511,016 $ 463,472 Liabilities and Other Equity Debt $ 54,142 $ 47,706 Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,249 Other liabilities 47,901 21,957 Total Liabilities 137,292 104,912 Temporary equity 26,604 28,469 Noncontrolling interests (including SHM South Fork JV, LLC) 16,901 16,084 Total Liabilities and Other Equity $ 180,797 $ 149,465

Debt And Lines Of Credit (Table

Debt And Lines Of Credit (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of debt and lines of credit [Table Text Block]	The following table sets forth certain information regarding debt including premiums, discounts and deferred financing costs (in thousands except statistical information): Carrying Amount Weighted Average Weighted Average March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Collateralized term loans - Life Companies $ 1,649,163 $ 1,658,239 16.1 16.3 3.990 % 3.990 % Collateralized term loans - FNMA 1,148,524 1,150,924 8.9 9.1 3.228 % 3.230 % Collateralized term loans - CMBS 265,758 267,205 2.6 2.9 4.789 % 4.789 % Collateralized term loans - FMCC 366,975 368,599 3.6 3.9 3.853 % 3.854 % Total Collateralized Term Loans 3,430,420 3,444,967 Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,249 3.5 3.8 6.000 % 6.000 % Preferred OP units - mandatorily redeemable 34,663 34,663 4.9 5.1 5.932 % 5.932 % Lines of credit and other debt 917,603 1,242,197 2.9 3.7 1.746 % 2.078 % Total Debt $ 4,417,935 $ 4,757,076 9.5 9.4 3.394 % 3.370 % During the three months ended March 31, 2021 we made no repayments on the collateralized term loans. During the year ended December 31, 2020, we repaid the following collateralized term loans (in thousands except statistical information): Three Months Ended Repayment Amount Fixed Interest Rate Maturity Date (Gain) / Loss on Extinguishment of Debt June 30, 2020 $ 52,710 (1) 5.980 % (3) March 1, 2021 $ 1,930 March 31, 2020 $ 99,607 5.837 % March 1, 2021 $ 3,403 $ 19,922 (2) 5.830 % (3) July 1, 2020 $ (124) (1) Includes four collateralized term loans, two due to mature on March 1, 2021, one due to mature on July 11, 2021 and the other due to mature on December 1, 2021. (2) Includes four collateralized term loans due to mature on July 1, 2020. (3) The interest rate represents the weighted average interest rate on collateralized term loans. During the three months ended March 31, 2021 we did not enter into any new collateralized term loans. During the year ended December 31, 2020, we entered into the following collateralized term loans (in thousands except statistical information): Three Months Ended Loan Amount Term Interest Maturity December 31, 2020 $ 268,800 (1) 12 2.662 % (2) May 1, 2030 March 31, 2020 $ 230,000 15 2.995 % April 1, 2035 (1) Includes three collateralized term loans, one for $8.8 million due to mature on May 1, 2030 and two for $39.5 million and $220.5 million, due to mature on November 1, 2032. (2) The interest rate represents the weighted average interest rate on collateralized term loans.

Equity and Temporary Equity (Ta

Equity and Temporary Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Activity of Conversions	Conversions to Common Stock - Subject to certain limitations, holders can convert certain series of stock and OP units to shares of our common stock at any time. Below is the activity of conversions during the three months ended March 31, 2021 and 2020: Three Months Ended Three Months Ended March 31, 2021 March 31, 2020 Series Conversion Rate Units / Shares Converted Common Stock (1) Units / Shares Converted Common Stock (1) Common OP unit 1.0000 24,912 24,912 11,949 11,949 Series A-1 preferred OP unit 2.4390 4,316 10,525 6,677 16,283 (1) Calculation may yield minor differences due to rounding incorporated in the above numbers.
Schedule of Dividends Payable	Distributions declared for the three months ended March 31, 2021 were as follows: Distributions Record Date Payment Date Distribution Per Share Total Distribution (in Thousands) Common Stock, Common OP units and Restricted Stock 3/31/2021 4/15/2021 $ 0.83 $ 94,966

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Restricted Stock Granted	During the three months ended March 31, 2021 and 2020, shares were granted as follows: Grant Period Type Plan Shares Granted Grant Date Fair Value Per Share Vesting Type Vesting Anniversary Percentage 2021 Executive Officers 2015 Equity Incentive Plan 54,000 $ 151.89 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 81,000 (2) $ 99.49 (2) Market Condition 3rd 100.0 % 2021 Executive Officers 2015 Equity Incentive Plan 15,000 $ 151.89 (1) Time Based 33.3% annually over 3 years 2021 Executive Officers 2015 Equity Incentive Plan 15,000 (3) $ 99.49 (3) Market Condition 3rd 100.0 % 2021 Key Employees 2015 Equity Incentive Plan 28,856 $ 151.89 (1) Time Based 33.3% annually over 3 years 2021 Key Employees 2015 Equity Incentive Plan 61,550 $ 143.28 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 3,400 $ 147.19 (1) Time Based 20.0% annually over 5 years 2021 Executive Officers 2015 Equity Incentive Plan 5,100 (4) $ 96.41 (4) Market Condition 3rd 100.0 % 2021 Directors 2004 Non-Employee Director Option Plan 1,509 $ 147.19 (1) Time Based 3rd 100.0 % 2021 Directors 2004 Non-Employee Director Option Plan 10,200 $ 148.44 (1) Time Based 3rd 100.0 % 2020 Key Employees 2015 Equity Incentive Plan 13,873 $ 140.39 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 69,368 $ 137.63 (1) Time Based 20.0% annually over 5 years 2020 Key Employees 2015 Equity Incentive Plan 1,500 $ 143.20 (1) Time Based 20.0% annually over 5 years 2020 Key Employees 2015 Equity Incentive Plan 51,790 $ 162.42 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 46,000 $ 165.97 (1) Time Based 20.0% annually over 5 years 2020 Executive Officers 2015 Equity Incentive Plan 69,000 (5) $ 125.47 (5) Market Condition 3rd 100.0 % 2020 Directors 2004 Non-Employee Director Option Plan 10,200 $ 147.97 (1) Time Based 3rd 100.0 % (1) The fair values of the grants were determined by using the average closing price of our common stock on the dates the shares were issued. (2) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $151.89. Based on the Monte Carlo simulation we expect 65.5 percent of the 81,000 shares to vest. (3) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $151.89. Based on the Monte Carlo simulation we expect 65.5 percent of the 15,000 shares to vest. (4) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $147.19. Based on the Monte Carlo simulation we expect 65.5 percent of the 5,100 shares to vest. (5) Share-based compensation for restricted stock awards with market 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. At the grant date our common stock price was $165.97. Based on the Monte Carlo simulation we expect 75.6 percent of the 69,000 shares to vest.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	A presentation of segment financial information is summarized as follows (in thousands): Three Months Ended March 31, 2021 March 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Operating revenues $ 245,474 $ 92,363 $ 95,587 $ 433,424 $ 221,161 $ 82,878 N/A $ 304,039 Property operating expenses 97,024 51,763 64,195 212,982 85,072 42,659 N/A 127,731 Net Operating Income $ 148,450 $ 40,600 $ 31,392 $ 220,442 $ 136,089 $ 40,219 N/A $ 176,308 Adjustments to arrive at net income / (loss) Interest income 2,631 2,350 Brokerage commissions and other revenues, net 5,960 3,913 General and administrative expense (38,203) (25,349) Catastrophic event-related charges, net (2,414) (606) Business combination expense (1,232) — Depreciation and amortization (123,304) (83,689) Loss on extinguishment of debt (see Note 8) — (3,279) Interest expense (39,517) (32,416) Interest on mandatorily redeemable preferred OP units / equity (1,036) (1,041) (Gain) / loss on remeasurement of marketable securities 3,661 (28,647) Gain / (loss) on foreign currency translation 25 (17,479) Other expense, net (1,099) (972) (Gain) / loss on remeasurement of notes receivable 376 (2,112) Income from nonconsolidated affiliates (see Note 6) 1,171 52 Loss on remeasurement of investment in nonconsolidated affiliates 104 (2,191) Current tax benefit / (expense) 229 (450) Deferred tax benefit (see Note 12) 147 130 Net Income / (Loss) 27,941 (15,478) Less: Preferred return to preferred OP units / equity 2,864 1,570 Less: Income / (Loss) attributable to noncontrolling interests 295 (962) Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders $ 24,782 $ (16,086) (1) Recast to reflect segment changes.
Reconciliation of Assets from Segment to Consolidated	March 31, 2021 December 31, 2020 (1) MH RV Marinas Consolidated MH RV Marinas Consolidated Identifiable Assets Investment property, net $ 4,828,033 $ 3,187,398 $ 1,895,719 $ 9,911,150 $ 4,823,174 $ 3,038,686 $ 1,853,931 $ 9,715,791 Cash, cash equivalents and restricted cash 71,119 38,695 10,360 120,174 53,152 28,919 10,570 92,641 Marketable securities 82,781 45,040 — 127,821 80,776 43,950 — 124,726 Inventory of manufactured homes 30,534 12,708 — 43,242 33,448 13,195 — 46,643 Notes and other receivables, net 149,187 56,264 43,558 249,009 144,027 44,002 33,621 221,650 Goodwill — — 438,842 438,842 — — 428,833 428,833 Other intangible assets, net 31,762 24,287 244,505 300,554 33,998 23,819 247,794 305,611 Other assets, net 155,201 39,198 69,018 263,417 184,917 38,075 47,699 270,691 Total Assets $ 5,348,617 $ 3,403,590 $ 2,702,002 $ 11,454,209 $ 5,353,492 $ 3,230,646 $ 2,622,448 $ 11,206,586 (1) Recast to reflect segment changes

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
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, 2021 March 31, 2020 Numerator Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders $ 24,782 $ (16,086) Less: allocation to restricted stock awards 152 (254) Basic earnings - Net Income / (Loss) attributable to common stockholders after allocation to restricted stock awards $ 24,630 $ (15,832) Add allocation to restricted stock awards — — Diluted earnings - Net Income / (Loss) attributable to common stockholders after allocation to restricted stock awards (1) $ 24,630 $ (15,832) Denominator Weighted average common shares outstanding 107,932 92,410 Add: common shares dilutive effect: March 2021 Forward Equity Offering 229 — Add: dilutive stock options — 1 Diluted weighted average common shares and securities (1) 108,161 92,411 Earnings Per Share Available to Common Stockholders After Allocation Basic earnings / (losses) per share $ 0.23 $ (0.17) Diluted earnings / (losses) per share (1) $ 0.23 $ (0.17) (1) For the three months ended March 31, 2021 and 2020, diluted earnings per share was calculated using the two-class method as the application of this method resulted in a more dilutive earnings per share for those periods.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share as of March 31, 2021 and 2020 (in thousands): As of March 31, 2021 March 31, 2020 Common OP units 2,596 2,408 A-1 preferred OP units 716 303 A-3 preferred OP units 75 40 Aspen preferred OP units 406 1,284 Series C preferred OP units 340 310 Series D preferred OP units 391 489 Series E preferred OP units 62 90 Series F preferred OP units 56 — Series G preferred OP units 155 — Series H preferred OP units 355 — Series I preferred OP units 562 — Total Securities 5,714 4,924

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	Installment Notes Receivable on Manufactured Homes, net Notes Receivable From Real Estate Developers Other Liabilities (Contingent Consideration) Level 3 beginning balance at December 31, 2020 $ — $ — $ 15,842 Transfer to level 3 85,866 52,638 — Transfer out of level 3 — — — Net earnings (loss) 375 — 71 Purchases and issuances 1,212 6,793 3,201 Sales and settlements (3,814) (262) — Other adjustments 470 (883) (958) Level 3 ending balance at March 31, 2021 $ 84,109 $ 58,286 $ 18,156

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]		for finance and operating leases as included in our Consolidated Balance Sheets are as follows (in thousands): Description Financial Statement Classification As of As of Lease Assets ROU asset obtained in exchange for new finance lease liabilities Investment property, net $ 4,368 $ 4,350 ROU asset obtained in exchange for new operating lease liabilities Other assets, net $ 59,272 $ 48,419 ROU asset obtained relative to below market operating lease Other assets, net $ 27,426 $ 27,614 Lease Liabilities Finance lease liabilities Other liabilities $ 4,327 $ 4,334 Operating lease liabilities Other liabilities $ 46,509 $ 49,964 Lease expense for finance and operating leases as included in our Consolidated Statements of Operations are as follows (in thousands): Three Months Ended Description Financial Statement Classification March 31, 2021 March 31, 2020 Finance Lease Expense Amortization of ROU assets Interest expense $ 6 $ (18) Interest on lease liabilities Interest expense 26 26 Operating lease cost General and administrative expense, Property operating and maintenance 2,148 974 Variable lease cost Property operating and maintenance 1,299 369 Short term lease cost Property operating and maintenance 61 — Total Lease Expense $ 3,540 $ 1,351
Finance Lease, Liability, Maturity [Table Text Block]	Future minimum lease payments under non-cancellable leases as of the three months ended March 31, 2021 where we are the lessee include: Maturity of Lease Liabilities (in thousands) Operating Leases Finance Leases Total 2021 (Excluding three months ended March 31, 2021) $ 3,879 $ 208 $ 4,087 2022 4,741 213 4,954 2023 4,771 178 4,949 2024 5,144 4,063 9,207 2025 5,175 — 5,175 Thereafter 55,533 — 55,533 Total Lease Payments $ 79,243 $ 4,662 $ 83,905 Less: Imputed interest (32,734) (335) (33,069) Present Value of Lease Liabilities $ 46,509 $ 4,327 $ 50,836
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Future minimum lease payments under non-cancellable leases as of the three months ended March 31, 2021 where we are the lessee include: Maturity of Lease Liabilities (in thousands) Operating Leases Finance Leases Total 2021 (Excluding three months ended March 31, 2021) $ 3,879 $ 208 $ 4,087 2022 4,741 213 4,954 2023 4,771 178 4,949 2024 5,144 4,063 9,207 2025 5,175 — 5,175 Thereafter 55,533 — 55,533 Total Lease Payments $ 79,243 $ 4,662 $ 83,905 Less: Imputed interest (32,734) (335) (33,069) Present Value of Lease Liabilities $ 46,509 $ 4,327 $ 50,836

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - segment	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Operating Segments	3	2

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020segment
Disaggregation of Revenue [Line Items]
Real property	$ 330,613	$ 258,349
Revenues	$ 442,015	310,302
Number of Operating Segments | segment	3		2
Number of reportable segments | segment	3
Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property	$ 330,613	258,349
Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property	52,199	40,587
Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property	50,612	5,103
Interest [Member]
Disaggregation of Revenue [Line Items]
Real property	2,631	2,350
Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property	5,960	3,913
Real Property Operations Segment [Member] | Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property	198,278	183,326
Real Property Operations Segment [Member] | Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property	45,332	35,782
Real Property Operations Segment [Member] | Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property	1,864	2,053
Real Property Operations Segment [Member] | Interest [Member]
Disaggregation of Revenue [Line Items]
Real property	2,086	1,999
Real Property Operations Segment [Member] | Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property	2,520	2,099
Home Sales and Home Rentals Segment [Member] | Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property	81,102	75,023
Home Sales and Home Rentals Segment [Member] | Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property	6,867	4,805
Home Sales and Home Rentals Segment [Member] | Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property	4,394	3,050
Home Sales and Home Rentals Segment [Member] | Interest [Member]
Disaggregation of Revenue [Line Items]
Real property	537	351
Home Sales and Home Rentals Segment [Member] | Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property	2,895	1,814
Marinas
Disaggregation of Revenue [Line Items]
Revenues	96,140
Marinas | Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property	51,233
Marinas | Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property	0
Marinas | Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property	44,354
Marinas | Interest [Member]
Disaggregation of Revenue [Line Items]
Real property	8
Marinas | Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property	545
MH
Disaggregation of Revenue [Line Items]
Revenues	250,080	225,259
RV
Disaggregation of Revenue [Line Items]
Revenues	$ 95,795	$ 85,043

Revenue Contract Balances (Deta

Revenue Contract Balances (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset, Reclassified to Receivable	$ 28.6

Real Estate Acquisitions, Sched

Real Estate Acquisitions, Schedule of Business Acquisitions, by Acquisition (Details)	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2020shares	Mar. 31, 2021USD ($)communitysitemarinashares	Dec. 31, 2020USD ($)sitecommunity	Dec. 31, 2021site	Dec. 31, 2020USD ($)	Dec. 31, 2020development_site	Dec. 31, 2020shares	Dec. 31, 2020segment	Oct. 31, 2020shares
Business Acquisition [Line Items]
Development Sites | development_site						109
Number of marinas owned (in marinas) | segment								99
Investment in property		$ 133,962,000			$ 2,339,368,000
Inventory of manufactured homes, boat parts and retail related items		160,000			9,942,000
In-place leases and other intangible assets		437,000			694,264,000
Other assets / (liabilities), net		(3,719,000)			42,231,000
Total identifiable assets acquired net of liabilities assumed		130,840,000			3,001,343,000
Cash and escrow		130,840,000	$ 1,923,855,000
Debt assumed					837,800,000
Temporary and permanent equity			239,688,000
Total consideration		$ 130,840,000	$ 3,001,343,000
Sites, Wet Slips and Dry Storage Spaces | site			45,800
Safe Harbor Wickford Cove
Business Acquisition [Line Items]
Investment in property					3,468,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					42,000
Total identifiable assets acquired net of liabilities assumed					3,389,000
Cash and escrow			$ 3,389,000
Temporary and permanent equity			0
Total consideration			3,389,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets					(121,000)
Sites, Wet Slips and Dry Storage Spaces | site				60
Safe Harbor Rockland
Business Acquisition [Line Items]
Investment in property					15,082,000
Inventory of manufactured homes, boat parts and retail related items					348,000
In-place leases and other intangible assets					101,000
Other assets / (liabilities), net					368,000
Total identifiable assets acquired net of liabilities assumed					15,163,000
Cash and escrow			15,163,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			15,163,000
Sites, Wet Slips and Dry Storage Spaces | site				173
Safe Harbor Mears Annapolis
Business Acquisition [Line Items]
Investment in property					24,354,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					6,922,000
Other assets / (liabilities), net					546,000
Total identifiable assets acquired net of liabilities assumed					30,730,000
Cash and escrow			30,730,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			30,730,000
Sites, Wet Slips and Dry Storage Spaces | site				184
Series E Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) | shares		90,000					90,000
Series A-4 Preferred Stock, Shares Issued | shares		90,000
Series F Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) | shares		90,000					90,000
Series A-4 Preferred Stock, Shares Issued | shares	90,000
Series G Preferred OP Units
Business Acquisition [Line Items]
Series A-4 Preferred Stock, Shares Issued | shares		260,710					240,710
Series H Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) | shares							581,407
Series A-4 Preferred Stock, Shares Issued | shares		581,407							581,407
Series I Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) | shares		922,000
Series A-4 Preferred Stock, Shares Issued | shares							922,000
Cape Cod
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					13,350,000
Inventory of manufactured homes, boat parts and retail related items		$ 0			0
In-place leases and other intangible assets					150,000
Other assets / (liabilities), net					295,000
Total identifiable assets acquired net of liabilities assumed					13,205,000
Cash and escrow			4,205,000
Debt assumed					0
Temporary and permanent equity			9,000,000
Total consideration			$ 13,205,000
Sites, Wet Slips and Dry Storage Spaces | site			230
Blue Water Beach Resort
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					11,364,000
Inventory of manufactured homes, boat parts and retail related items		0			0
In-place leases and other intangible assets					80,000
Other assets / (liabilities), net					391,000
Total identifiable assets acquired net of liabilities assumed					11,053,000
Cash and escrow			$ 11,053,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 11,053,000
Sites, Wet Slips and Dry Storage Spaces | site			299
Forest Springs
Business Acquisition [Line Items]
Development Sites			372			0
Investment in property					51,949,000
Inventory of manufactured homes, boat parts and retail related items		0			1,337,000
In-place leases and other intangible assets					2,160,000
Other assets / (liabilities), net					107,000
Total identifiable assets acquired net of liabilities assumed					55,339,000
Cash and escrow			$ 36,260,000
Debt assumed					0
Temporary and permanent equity			19,079,000
Total consideration			55,339,000
Forest Springs | Common OP Units
Business Acquisition [Line Items]
Equity interest issued or issuable, number of shares (in shares) | shares	82,420
Cherrystone Family Camping Resort
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					16,792,000
Inventory of manufactured homes, boat parts and retail related items		0			0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					230,000
Total identifiable assets acquired net of liabilities assumed					16,562,000
Cash and escrow			16,562,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 16,562,000
Sites, Wet Slips and Dry Storage Spaces | site			123
Beachwood Resort
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					34,000,000
Inventory of manufactured homes, boat parts and retail related items		0			0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					155,000
Total identifiable assets acquired net of liabilities assumed					33,845,000
Cash and escrow			$ 33,845,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 33,845,000
Sites, Wet Slips and Dry Storage Spaces | site			421
Woodsmoke [Member]
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					25,120,000
Inventory of manufactured homes, boat parts and retail related items		$ 0			40,000
In-place leases and other intangible assets					840,000
Other assets / (liabilities), net					461,000
Total identifiable assets acquired net of liabilities assumed					25,539,000
Cash and escrow			$ 25,539,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 25,539,000
Sites, Wet Slips and Dry Storage Spaces | site			300
Jellystone Lone Star [Member]
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					21,000,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					703,000
Total identifiable assets acquired net of liabilities assumed					20,297,000
Cash and escrow			$ 20,297,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 20,297,000
Sites, Wet Slips and Dry Storage Spaces | site			344
El Capitan & Ocean Mesa [Member]
Business Acquisition [Line Items]
Development Sites | development_site						109
Number of communities impaired | community		2
Investment in property					69,690,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					10,321,000
Total identifiable assets acquired net of liabilities assumed					59,369,000
Cash and escrow			$ 32,108,000
Debt assumed					0
Temporary and permanent equity			27,261,000
Total consideration			$ 59,369,000
Sites, Wet Slips and Dry Storage Spaces | site			266
Highland Green Estates & Troy Villa [Member]
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					60,988,000
Inventory of manufactured homes, boat parts and retail related items					1,679,000
In-place leases and other intangible assets					2,030,000
Other assets / (liabilities), net					15,000
Total identifiable assets acquired net of liabilities assumed					64,682,000
Cash and escrow			$ 64,682,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 64,682,000
Sites, Wet Slips and Dry Storage Spaces | site			1,162
Associate Island KOA
Business Acquisition [Line Items]
Investment in property		$ 14,965,000
In-place leases and other intangible assets		41,000
Other assets / (liabilities), net		(248,000)
Total identifiable assets acquired net of liabilities assumed		14,758,000
Cash and escrow		14,758,000
Total consideration		$ 14,758,000
Sites, Wet Slips and Dry Storage Spaces | site		294
Blue Water
Business Acquisition [Line Items]
Investment in property		$ 9,000,000
In-place leases and other intangible assets		0
Other assets / (liabilities), net		(151,000)
Total identifiable assets acquired net of liabilities assumed		8,849,000
Cash and escrow		8,849,000
Total consideration		$ 8,849,000
Sites, Wet Slips and Dry Storage Spaces | site		177
Tranquility MHC
Business Acquisition [Line Items]
Investment in property		$ 1,250,000
In-place leases and other intangible assets		0
Other assets / (liabilities), net		(1,000)
Total identifiable assets acquired net of liabilities assumed		1,249,000
Cash and escrow		1,249,000
Total consideration		$ 1,249,000
Sites, Wet Slips and Dry Storage Spaces | site		25
Pleasant Beach Campground
Business Acquisition [Line Items]
Investment in property		$ 1,588,000
In-place leases and other intangible assets		0
Other assets / (liabilities), net		1,000
Total identifiable assets acquired net of liabilities assumed		1,589,000
Cash and escrow		1,589,000
Total consideration		$ 1,589,000
Sites, Wet Slips and Dry Storage Spaces | site		102
Cherrystone Family Camping
Business Acquisition [Line Items]
Investment in property		$ 59,900,000
In-place leases and other intangible assets		0
Other assets / (liabilities), net		(2,029,000)
Total identifiable assets acquired net of liabilities assumed		57,871,000
Cash and escrow		57,871,000
Total consideration		$ 57,871,000
Sites, Wet Slips and Dry Storage Spaces | site		669
Beachwood
Business Acquisition [Line Items]
Investment in property		$ 7,000,000
In-place leases and other intangible assets		0
Other assets / (liabilities), net		(401,000)
Total identifiable assets acquired net of liabilities assumed		6,599,000
Cash and escrow		6,599,000
Total consideration		$ 6,599,000
Sites, Wet Slips and Dry Storage Spaces | site		672
Safe Harbor Marinas
Business Acquisition [Line Items]
Development Sites | development_site						0
In-place leases and other intangible assets					5,700,000
Other assets / (liabilities), net					26,831,000
Total identifiable assets acquired net of liabilities assumed					2,040,781,000
Debt assumed					829,000,000
Business Combination, Considered Transferred, Deferred Payment			$ 2,040,781,000
Asset Acquisition, Payments to Acquire Businesses, Gross			1,141,797,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles					418,033,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					1,643,879,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets					69,984,000
Sites, Wet Slips and Dry Storage Spaces | site				37,305
Islamorada and Angler House
Business Acquisition [Line Items]
Total identifiable assets acquired net of liabilities assumed		$ 17,975,000
Total consideration		$ 17,975,000
Sites, Wet Slips and Dry Storage Spaces | site		251
Gig Harbor
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					15,250,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					22,000
Total identifiable assets acquired net of liabilities assumed					15,228,000
Cash and escrow			15,228,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 15,228,000
Sites, Wet Slips and Dry Storage Spaces | site			115
Maine MH Portfolio
Business Acquisition [Line Items]
Development Sites | development_site						0
Number of communities impaired | community		6	6
Investment in property					79,890,000
In-place leases and other intangible assets					0
Other assets / (liabilities), net					30,000
Total identifiable assets acquired net of liabilities assumed					81,279,000
Cash and escrow			$ 72,479,000
Temporary and permanent equity			0
Total consideration			$ 81,279,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 1,359,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					8,800,000
Sites, Wet Slips and Dry Storage Spaces | site			1,083
Mouse Mountain
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					15,221,000
In-place leases and other intangible assets					0
Other assets / (liabilities), net					(4,000)
Total identifiable assets acquired net of liabilities assumed					15,496,000
Cash and escrow			$ 15,496,000
Temporary and permanent equity			0
Total consideration			$ 15,496,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					279,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					0
Sites, Wet Slips and Dry Storage Spaces | site			304
Lakeview Mobile Estates
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					22,917,000
In-place leases and other intangible assets					195,000
Other assets / (liabilities), net					(72,000)
Total identifiable assets acquired net of liabilities assumed					23,678,000
Cash and escrow			$ 23,678,000
Temporary and permanent equity			0
Total consideration			$ 23,678,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					638,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					0
Sites, Wet Slips and Dry Storage Spaces | site			296
Shenandoah Acres
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					16,166,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					834,000
Other assets / (liabilities), net					197,000
Total identifiable assets acquired net of liabilities assumed					16,803,000
Cash and escrow			$ 16,803,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 16,803,000
Sites, Wet Slips and Dry Storage Spaces | site			522
Jellystone at Barton Lake
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					23,462,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					538,000
Other assets / (liabilities), net					397,000
Total identifiable assets acquired net of liabilities assumed					23,603,000
Cash and escrow			$ 23,603,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 23,603,000
Sites, Wet Slips and Dry Storage Spaces | site			555
Kittatinny Portfolio
Business Acquisition [Line Items]
Development Sites | development_site						0
Investment in property					16,220,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases and other intangible assets					30,000
Other assets / (liabilities), net					(29,000)
Total identifiable assets acquired net of liabilities assumed					16,279,000
Cash and escrow			$ 16,279,000
Debt assumed					0
Temporary and permanent equity			0
Total consideration			$ 16,279,000
Sites, Wet Slips and Dry Storage Spaces | site			527
Safe Harbor Hideaway Bay
Business Acquisition [Line Items]
Development Sites | development_site						0
In-place leases and other intangible assets					23,000
Other assets / (liabilities), net					1,077,000
Total identifiable assets acquired net of liabilities assumed					32,406,000
Debt assumed					0
Business Combination, Considered Transferred, Deferred Payment			$ 32,406,000
Asset Acquisition, Payments to Acquire Businesses, Gross			32,406,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles					7,242,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					26,218,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets					0
Sites, Wet Slips and Dry Storage Spaces | site				628
Safe Harbor Anacapa Isle
Business Acquisition [Line Items]
Development Sites | development_site						0
In-place leases and other intangible assets					0
Other assets / (liabilities), net					(60,000)
Total identifiable assets acquired net of liabilities assumed					14,130,000
Debt assumed					0
Business Combination, Considered Transferred, Deferred Payment			14,130,000
Asset Acquisition, Payments to Acquire Businesses, Gross			14,130,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles					3,146,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					10,924,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets					0
Sites, Wet Slips and Dry Storage Spaces | site				453
Safe Harbor Rybovich Portfolio
Business Acquisition [Line Items]
Development Sites | development_site						0
Number of marinas owned (in marinas) | marina		2
In-place leases and other intangible assets					620,000
Other assets / (liabilities), net					37,000
Total identifiable assets acquired net of liabilities assumed					372,487,000
Debt assumed					0
Business Combination, Considered Transferred, Deferred Payment			372,487,000
Asset Acquisition, Payments to Acquire Businesses, Gross			$ 258,123,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles					249,840,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					122,064,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets					$ 114,364,000
Sites, Wet Slips and Dry Storage Spaces | site				78
Prime Martha's Vineyard
Business Acquisition [Line Items]
Total identifiable assets acquired net of liabilities assumed		$ 21,950,000
Total consideration		$ 21,950,000
Sites, Wet Slips and Dry Storage Spaces | site		390
Safe Harbor Wickford Cove
Business Acquisition [Line Items]
Development Sites | development_site						0
Safe Harbor Rockland
Business Acquisition [Line Items]
Development Sites | development_site						0
Safe Harbor Mears Annapolis
Business Acquisition [Line Items]
Development Sites | development_site						0

Real Estate Acquisitions, Sch_2

Real Estate Acquisitions, Schedule of Purchase Price Allocation (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)marina	Dec. 31, 2020USD ($)segment
Business Acquisition [Line Items]
Capitalized transaction costs	$ 1,800,000
At acquistion date
Investment in property	133,962,000	$ 2,339,368,000
Inventory of manufactured homes, boat parts and retail related items	160,000	9,942,000
In-place leases and other intangible assets	437,000	694,264,000
Other assets / (liabilities), net	(3,719,000)	42,231,000
Total identifiable assets acquired and liabilities assumed	130,840,000	3,001,343,000
Consideration
Cash and escrow	130,840,000	1,923,855,000
Debt assumed		837,800,000
Temporary and permanent equity		239,688,000
Total consideration	130,840,000	$ 3,001,343,000
Number of marinas owned (in marinas) | segment		99
Islamorada and Angler House
Consideration
Asset Acquisition, Payments to Acquire Businesses, Gross	17,975,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets (Liabilities)	(317,000)
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets	269,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	18,001,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Inventory	22,000
Prime Martha's Vineyard
Consideration
Asset Acquisition, Payments to Acquire Businesses, Gross	21,950,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets (Liabilities)	(573,000)
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets	127,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	22,258,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Inventory	$ 138,000
Number of marinas owned (in marinas) | marina	2
Cape Cod
At acquistion date
Investment in property		$ 13,350,000
Inventory of manufactured homes, boat parts and retail related items	$ 0	0
In-place leases and other intangible assets		150,000
Other assets / (liabilities), net		295,000
Total identifiable assets acquired and liabilities assumed		13,205,000
Consideration
Cash and escrow		4,205,000
Debt assumed		0
Temporary and permanent equity		9,000,000
Total consideration		13,205,000
Blue Water Beach Resort
At acquistion date
Investment in property		11,364,000
Inventory of manufactured homes, boat parts and retail related items	0	0
In-place leases and other intangible assets		80,000
Other assets / (liabilities), net		391,000
Total identifiable assets acquired and liabilities assumed		11,053,000
Consideration
Cash and escrow		11,053,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		11,053,000
Forest Springs
At acquistion date
Investment in property		51,949,000
Inventory of manufactured homes, boat parts and retail related items	0	1,337,000
In-place leases and other intangible assets		2,160,000
Other assets / (liabilities), net		107,000
Total identifiable assets acquired and liabilities assumed		55,339,000
Consideration
Cash and escrow		36,260,000
Debt assumed		0
Temporary and permanent equity		19,079,000
Total consideration		55,339,000
Cherrystone Family Camping Resort
At acquistion date
Investment in property		16,792,000
Inventory of manufactured homes, boat parts and retail related items	0	0
In-place leases and other intangible assets		0
Other assets / (liabilities), net		230,000
Total identifiable assets acquired and liabilities assumed		16,562,000
Consideration
Cash and escrow		16,562,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		16,562,000
Beachwood Resort
At acquistion date
Investment in property		34,000,000
Inventory of manufactured homes, boat parts and retail related items	0	0
In-place leases and other intangible assets		0
Other assets / (liabilities), net		155,000
Total identifiable assets acquired and liabilities assumed		33,845,000
Consideration
Cash and escrow		33,845,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		33,845,000
Woodsmoke [Member]
At acquistion date
Investment in property		25,120,000
Inventory of manufactured homes, boat parts and retail related items	0	40,000
In-place leases and other intangible assets		840,000
Other assets / (liabilities), net		461,000
Total identifiable assets acquired and liabilities assumed		25,539,000
Consideration
Cash and escrow		25,539,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		25,539,000
Jellystone Lone Star [Member]
At acquistion date
Investment in property		21,000,000
Inventory of manufactured homes, boat parts and retail related items		0
In-place leases and other intangible assets		0
Other assets / (liabilities), net		703,000
Total identifiable assets acquired and liabilities assumed		20,297,000
Consideration
Cash and escrow		20,297,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		20,297,000
El Capitan & Ocean Mesa [Member]
At acquistion date
Investment in property		69,690,000
Inventory of manufactured homes, boat parts and retail related items		0
In-place leases and other intangible assets		0
Other assets / (liabilities), net		10,321,000
Total identifiable assets acquired and liabilities assumed		59,369,000
Consideration
Cash and escrow		32,108,000
Debt assumed		0
Temporary and permanent equity		27,261,000
Total consideration		59,369,000
Highland Green Estates & Troy Villa [Member]
At acquistion date
Investment in property		60,988,000
Inventory of manufactured homes, boat parts and retail related items		1,679,000
In-place leases and other intangible assets		2,030,000
Other assets / (liabilities), net		15,000
Total identifiable assets acquired and liabilities assumed		64,682,000
Consideration
Cash and escrow		64,682,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		64,682,000
Associate Island KOA
At acquistion date
Investment in property	14,965,000
In-place leases and other intangible assets	41,000
Other assets / (liabilities), net	(248,000)
Total identifiable assets acquired and liabilities assumed	14,758,000
Consideration
Cash and escrow	14,758,000
Total consideration	14,758,000
Blue Water
At acquistion date
Investment in property	9,000,000
In-place leases and other intangible assets	0
Other assets / (liabilities), net	(151,000)
Total identifiable assets acquired and liabilities assumed	8,849,000
Consideration
Cash and escrow	8,849,000
Total consideration	8,849,000
Tranquility MHC
At acquistion date
Investment in property	1,250,000
In-place leases and other intangible assets	0
Other assets / (liabilities), net	(1,000)
Total identifiable assets acquired and liabilities assumed	1,249,000
Consideration
Cash and escrow	1,249,000
Total consideration	1,249,000
Pleasant Beach Campground
At acquistion date
Investment in property	1,588,000
In-place leases and other intangible assets	0
Other assets / (liabilities), net	1,000
Total identifiable assets acquired and liabilities assumed	1,589,000
Consideration
Cash and escrow	1,589,000
Total consideration	1,589,000
Cherrystone Family Camping
At acquistion date
Investment in property	59,900,000
In-place leases and other intangible assets	0
Other assets / (liabilities), net	(2,029,000)
Total identifiable assets acquired and liabilities assumed	57,871,000
Consideration
Cash and escrow	57,871,000
Total consideration	57,871,000
Beachwood
At acquistion date
Investment in property	7,000,000
In-place leases and other intangible assets	0
Other assets / (liabilities), net	(401,000)
Total identifiable assets acquired and liabilities assumed	6,599,000
Consideration
Cash and escrow	6,599,000
Total consideration	$ 6,599,000
Gig Harbor
At acquistion date
Investment in property		15,250,000
Inventory of manufactured homes, boat parts and retail related items		0
In-place leases and other intangible assets		0
Other assets / (liabilities), net		22,000
Total identifiable assets acquired and liabilities assumed		15,228,000
Consideration
Cash and escrow		15,228,000
Debt assumed		0
Temporary and permanent equity		0
Total consideration		15,228,000
Safe Harbor Marinas
At acquistion date
In-place leases and other intangible assets		5,700,000
Other assets / (liabilities), net		26,831,000
Total identifiable assets acquired and liabilities assumed		2,040,781,000
Consideration
Debt assumed		829,000,000
Asset Acquisition, Payments to Acquire Businesses, Gross		1,141,797,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets		69,984,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		1,643,879,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles		418,033,000
Safe Harbor Hideaway Bay
At acquistion date
In-place leases and other intangible assets		23,000
Other assets / (liabilities), net		1,077,000
Total identifiable assets acquired and liabilities assumed		32,406,000
Consideration
Debt assumed		0
Asset Acquisition, Payments to Acquire Businesses, Gross		32,406,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets		0
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		26,218,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles		7,242,000
Safe Harbor Anacapa Isle
At acquistion date
In-place leases and other intangible assets		0
Other assets / (liabilities), net		(60,000)
Total identifiable assets acquired and liabilities assumed		14,130,000
Consideration
Debt assumed		0
Asset Acquisition, Payments to Acquire Businesses, Gross		14,130,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets		0
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		10,924,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles		3,146,000
Safe Harbor Rybovich Portfolio
At acquistion date
In-place leases and other intangible assets		620,000
Other assets / (liabilities), net		37,000
Total identifiable assets acquired and liabilities assumed		372,487,000
Consideration
Debt assumed		0
Asset Acquisition, Payments to Acquire Businesses, Gross		258,123,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets		114,364,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		122,064,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill And Other Intangibles		$ 249,840,000
Number of marinas owned (in marinas) | marina	2
Islamorada and Angler House
At acquistion date
Total identifiable assets acquired and liabilities assumed	$ 17,975,000
Consideration
Total consideration	17,975,000
Prime Martha's Vineyard
At acquistion date
Total identifiable assets acquired and liabilities assumed	21,950,000
Consideration
Total consideration	$ 21,950,000

Real Estate Acquisitions, Narra

Real Estate Acquisitions, Narrative (Details) $ in Thousands	Jul. 01, 2020USD ($)site	Mar. 31, 2021USD ($)marina	Mar. 31, 2020USD ($)landParcel	Dec. 31, 2020USD ($)propertiessegment
Business Acquisition [Line Items]
Total consideration		$ 130,840		$ 3,001,343
Number of marinas owned (in marinas) | segment				99
Capitalized transaction costs		1,800
Number Of Housing Sites Sold | site	226
Business Combination, Integration Related Costs		1,232	$ 0	$ 23,000
Capitalized transaction costs		$ 1,800
Number Of Land Parcels Acquired | landParcel			8
Payments to Acquire Land			$ 9,700
Number Of Land Parcels Acquired Adjacent To Existing Communities | landParcel			7
Safe Harbor Marinas
Business Acquisition [Line Items]
Capitalized transaction costs				13,400
Capitalized transaction costs				$ 13,400
Business Combinations and Assets Acquisitions
Business Acquisition [Line Items]
Number of States in which Entity Operates | properties				22
Prime Martha's Vineyard
Business Acquisition [Line Items]
Number of marinas owned (in marinas) | marina		2
Countryside Village
Business Acquisition [Line Items]
Consideration received	$ 12,600
Gain on disposition of property	$ 5,600

Notes and Other Receivables, Sc

Notes and Other Receivables, Schedule of notes and other receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 249,009	$ 221,650
Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	84,109	85,866
Notes receivable from real estate developers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	58,286	52,638
Other receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 106,614	$ 83,146

Notes And Other Receivables - N

Notes And Other Receivables - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with imputed interest, net	$ 84,109		$ 85,866		$ 85,900
Accounts and Financing Receivable, after Allowance for Credit Loss	249,009		221,650
Undrawn Funds On Loans	14,500
Notes Receivable, Fair Value Disclosure	58,286		52,638
Other receivables for rent, water, sewer usage	15,900		7,100
Allowance for rent, water, sewer usage receivables	(5,800)			$ (7,200)
Contract with Customer, Asset, Reclassified to Receivable	28,600
Insurance receivables	13,500			13,600
Other Receivables, Storage And Lease Payments, Marina	28,200			19,200
Home sale proceeds				23,600
Home sale proceeds				23,600
Other Receivables, Storage And Lease Payments, Marina	$ 28,200			19,200
RezPlot [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ownership percentage	50.00%
Debt instrument, face amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Convertible Notes Payable	$ 4,000
Convertible Notes Payable	4,000
RezPlot [Member] | Convertible Secured Promissory Note | Convertible Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Convertible Notes Payable				2,000
Convertible Notes Payable				2,000
Marinas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for rent, water, sewer usage receivables	(1,700)			(1,400)
Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss	$ 84,109		$ 85,866
Receivable with Imputed Interest, Effective Yield (Interest Rate)	7.80%
Receivable With Imputed Interest, Term	15 years		15 years 2 months 12 days
Notes receivable from real estate developers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss	$ 58,286		$ 52,638
Receivable with Imputed Interest, Effective Yield (Interest Rate)	6.30%	6.20%
Receivable With Imputed Interest, Term	1 year 7 months 6 days	1 year 9 months 18 days
Other receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss	$ 106,614		83,146
Financing Receivable, Allowance for Credit Loss	(1,300)
Financing Receivable, Allowance for Credit Loss	(1,300)
Reported Value Measurement | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other Receivables	20,400			$ 19,600
Fair Value, Recurring | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	(900)		0		$ (1,276)	$ 991
Fair Value, Recurring | Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	(908)		(1,276)
Accounts and Financing Receivable, after Allowance for Credit Loss	84,109		85,866
Fair Value, Recurring | Reported Value Measurement | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	375		(2,274)
Accounts and Financing Receivable, after Allowance for Credit Loss	$ 84,109		$ 85,866

Notes and Other Receivables, _2

Notes and Other Receivables, Schedule of installment notes receivable (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with imputed interest, net	$ 84,109	$ 85,866	$ 85,900
Installment notes receivable on manufactured homes, gross
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	87,142	96,225
Financed sales of manufactured homes	1,212	5,014
Principal payments and payoffs from our customers	(2,849)	(8,977)
Principal reduction from repossessed homes	965	4,643
Ending balance	85,017	87,142
Assets Held For Sale, Adjustment Of Notes Receivable	477	(477)
Collateralized receivables, net and Installment Notes Receivables on Manufactured Homes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	0	645
Ending balance	0	0
Increase to reserve balance	0	645
Fair Value, Recurring | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	(900)	0	$ (1,276)	$ 991
Assets Held For Sale, Adjustment Of Notes Receivable	(7)	7
Fair Value, Recurring | Reported Value Measurement | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	375	(2,274)
Fair Value, Recurring | Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment	$ (908)	$ (1,276)

Intangible Assets Intangible _2

Intangible Assets Intangible Assets, Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 850,675		$ 832,720
Accumulated Amortization	(111,279)		(98,276)
Goodwill	438,842	$ 428,833	428,833
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	149,109	$ 145,531
Accumulated Amortization	(102,521)		(92,327)
2023	5,408
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,266		23,856
Accumulated Amortization	(4,067)		(3,578)
2023	$ 20,124
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Gross Carrying Amount	$ 10,000		10,000
Accumulated Amortization	(500)		0
2023	0
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,958		108,000
Accumulated Amortization	(3,983)		(2,371)
2023	1,879
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	116,500		116,500
Accumulated Amortization	(208)		$ 0
2023	$ 10,837
Minimum [Member] | Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Maximum [Member] | Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] | Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

Intangible Assets Intangible _3

Intangible Assets Intangible Assets, Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 12,625	$ 3,656
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	9,816	3,451
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	490	205
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	500	0
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	208	0
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,611	$ 0

Intangible Assets, Intangibles

Intangible Assets, Intangibles Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2021USD ($)
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 1,676
2021	1,962
2022	1,933
2023	1,879
2024	1,872
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	30,461
2021	26,777
2022	23,304
2023	20,124
2024	19,553
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	18,532
2021	11,145
2022	7,701
2023	5,408
2024	4,844
Leases, Acquired-in-Place, Market Adjustment
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	1,500
2021	2,000
2022	2,000
2023	2,000
2024	2,000
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	625
2021	833
2022	833
2023	0
2024	0
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	8,128
2021	10,837
2022	10,837
2023	10,837
2024	$ 10,837

Investment In Affiliates , Narr

Investment In Affiliates , Narrative (Details)	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
RezPlot [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Sungenia JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50.00%
GTSC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	40.00%		40.00%
Origen Financial Services [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	22.90%		22.90%
SV Lift [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%	50.00%

Investment in Affiliates, Inves

Investment in Affiliates, Investment Balance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 1,171	$ 52
Equity Method Investments	62,199			$ 59,074
RezPlot [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(487)	(500)
Equity Method Investments	2,561			3,047
Sungenia JV [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	734	(115)		338
Equity Method Investments	27,337			26,890	$ 26,890	$ 11,995
Equity Method Investment, Cumulative Translation Adjustment	(287)			2,180
Payments to Acquire Equity Method Investments	0			12,377
GTSC [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	1,181	760	$ 3,944
Equity Method Investment, Fair Value Adjustment	104		(1,608)
Equity Method Investments	28,747			25,495		$ 18,488
Equity Method Investments, Initial Fair Value Adjustment	0		317
Equity Method Investment, Cash Contributions	4,339		19,030
Proceeds from Equity Method Investment, Distribution	(2,372)		$ (14,676)
Origen Financial Services [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	29	38
Equity Method Investments	181			152
SV Lift [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(286)	$ (131)
Equity Method Investments	$ 3,373			$ 3,490

Consolidated Variable Interes_3

Consolidated Variable Interest Entities, Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investment property, net	$ 9,911,150	$ 9,715,791
Other Assets	263,417	270,691
Secured Debt	3,430,420	3,444,967
Other Liabilities	148,128	134,650
Liabilities	5,101,512	5,314,879
Consolidated VIEs (fully attributable to consolidated VIEs; see Note 7)	$ 16,901	$ 16,084
VIE as a Percentage of Consolidated Assets	4.50%	4.10%
VIE as a Percentage of Consolidated Liabilities	2.70%	2.00%
VIE as a Percentage of Total Equity	1.00%
Assets	$ 11,454,209	$ 11,206,586
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investment property, net	479,196	438,918
Other Assets	31,820	24,554
Secured Debt	54,142	47,706
Preferred OP units - mandatorily redeemable	35,249	35,249
Other Liabilities	47,901	21,957
Liabilities	137,292	104,912
Equity Interests	26,604	28,469
Consolidated VIEs (fully attributable to consolidated VIEs; see Note 7)	16,901	16,084
Total Liabilities and Stockholder's Equity	180,797	149,465
Assets	$ 511,016	$ 463,472

Debt And Lines Of Credit , Sche

Debt And Lines Of Credit , Schedule of debt and lines of credit (Details) - USD ($)	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2021
Debt Instrument [Line Items]
Document Period End Date	Mar. 31, 2021
Financial Instruments Subject to Mandatory Redemption, Term	7 years
Secured debt	$ 3,430,420,000			$ 3,444,967,000
Debt weighted average to maturity, years	9 years 6 months			9 years 4 months 24 days
Weighted average interest rate	3.394%			3.37%
Lines of credit and other debt	$ 917,603,000			$ 1,242,197,000
Total debt	4,417,935,000			4,757,076,000
Gain (Loss) on Extinguishment of Debt	0	$ (3,279,000)
Collateralized term loans - CMBS [Member]
Debt Instrument [Line Items]
Secured debt	$ 1,148,524,000			$ 267,205,000
Debt weighted average to maturity, years	8 years 10 months 24 days			2 years 10 months 24 days
Weighted average interest rate	3.228%			4.789%
Secured borrowing [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 230,000,000		$ 268,800,000
Debt instrument term	12 years		15 years
Debt Instrument, Interest Rate, Stated Percentage			2.995%		2.662%
Preferred OP units [Member]
Debt Instrument [Line Items]
Secured debt	$ 34,663,000
Preferred OP units - mandatorily redeemable	34,663,000			$ 34,663,000
Debt weighted average to maturity, years				5 years 1 month 6 days
Weighted average interest rate				5.932%
Preferred Equity, Mandatorily Redeemable [Member]
Debt Instrument [Line Items]
Preferred OP units - mandatorily redeemable	$ 35,249,000			$ 35,249,000
Debt instrument term	3 years 6 months
Debt weighted average to maturity, years				3 years 9 months 18 days
Weighted average interest rate	6.00%			6.00%
Matures December 1, 2021, 5.98 Percent Interest Rate | Secured borrowing [Member]
Debt Instrument [Line Items]
Reduction in secured borrowing balance	$ 52,710,000
Interest rate	5.98%
Gain (Loss) on Extinguishment of Debt	$ 1,930,000
Matures March 1, 2021, 5.837 Percent Interest Rate [Member] [Domain] [Domain] | Secured borrowing [Member]
Debt Instrument [Line Items]
Reduction in secured borrowing balance	$ 99,607,000
Interest rate	5.837%
Gain (Loss) on Extinguishment of Debt	$ 3,403,000
Matures July 1, 2020, 5.86 Percent Interest Rate [Member] [Domain] | Secured borrowing [Member]
Debt Instrument [Line Items]
Reduction in secured borrowing balance	$ 19,922,000
Interest rate	5.83%
Gain (Loss) on Extinguishment of Debt				$ (124,000)
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member]
Debt Instrument [Line Items]
Secured debt	$ 366,975,000			$ 1,150,924,000
Debt weighted average to maturity, years	3 years 7 months 6 days			9 years 1 month 6 days
Weighted average interest rate	3.853%			3.23%
Life Companies [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Secured debt	$ 1,649,163,000			$ 1,658,239,000
Debt weighted average to maturity, years	16 years 1 month 6 days			16 years 3 months 18 days
Weighted average interest rate	3.99%			3.99%
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member]
Debt Instrument [Line Items]
Secured debt	$ 265,758,000			$ 368,599,000
Debt weighted average to maturity, years	2 years 7 months 6 days			3 years 10 months 24 days
Weighted average interest rate	4.789%			3.854%
Reported Value Measurement | Secured borrowing [Member]
Debt Instrument [Line Items]
Debt weighted average to maturity, years	4 years 10 months 24 days
Weighted average interest rate	5.932%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Lines of credit and other debt	$ 917,603,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Debt weighted average to maturity, years	2 years 10 months 24 days			3 years 8 months 12 days
Weighted average interest rate	1.746%			2.078%

Debt And Lines Of Credit , Narr

Debt And Lines Of Credit , Narrative - Collateralized Term Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)loanspropertiessiteRate	Mar. 31, 2020USD ($)loans	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)siteRate	Dec. 31, 2021USD ($)	Dec. 22, 2020USD ($)	Dec. 21, 2020USD ($)	Apr. 25, 2017USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 0	$ 3,279
Weighted average interest rate | Rate	3.394%			3.37%
Sites, Wet Slips and Dry Storage Spaces | site				45,800
Debt weighted average to maturity, length	9 years 6 months			9 years 4 months 24 days
Total debt	$ 3,430,420			$ 3,444,967
Document Period End Date	Mar. 31, 2021
Financial Instruments Subject to Mandatory Redemption, Term	7 years
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit, borrowing capacity								$ 650,000
Safe Harbor | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity, Incremental						$ 500,000	$ 350,000
Line of credit, borrowing capacity						$ 1,300,000	$ 500,000
Collateralized Term Loan 1
Debt Instrument [Line Items]
Number Of Collateralized Term Loans | loans	4	3
Collateralized Term Loan 2
Debt Instrument [Line Items]
Number Of Collateralized Term Loans | loans	2	1
Collateralized Term Loan 3
Debt Instrument [Line Items]
Number Of Collateralized Term Loans | loans	1	2
Secured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 230,000		$ 268,800
Debt instrument term	12 years		15 years
Debt Instrument, Interest Rate, Stated Percentage			2.995%		2.662%
Secured Debt [Member] | Collateralized Term Loan 1
Debt Instrument [Line Items]
Debt instrument, face amount					$ 8,800
Secured Debt [Member] | Collateralized Term Loan 2
Debt Instrument [Line Items]
Debt instrument, face amount					39,500
Secured Debt [Member] | Collateralized Term Loan 3
Debt Instrument [Line Items]
Debt instrument, face amount					$ 220,500
Commercial Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Weighted average interest rate | Rate	3.228%			4.789%
Debt weighted average to maturity, length	8 years 10 months 24 days			2 years 10 months 24 days
Total debt	$ 1,148,524			$ 267,205
Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Net book value of properties securing collateralized term loans	$ 3,200,000
Properties securing debt [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Sites, Wet Slips and Dry Storage Spaces | site	77,306
Debt Instrument, number of properties securing a debt instument | properties	192

Debt And Lines Of Credit , Na_2

Debt And Lines Of Credit , Narrative - Aspen Preferred OP Units and Series B-3 preferred OP units (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2018	Mar. 31, 2021USD ($)shares	Sep. 30, 2020shares$ / sharesRate	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2015$ / shares
Debt Instrument [Line Items]
Convertible units to shares (in shares) | shares			1,013,819
Financial Instruments Subject to Mandatory Redemption, Rate Of Return	6.00%
Financial Instruments Subject to Mandatory Redemption, Term		7 years
Preferred Equity, Mandatorily Redeemable [Member]
Debt Instrument [Line Items]
Financial Instruments Subject to Mandatory Redemption, Value of Shares Issued | $					$ 33,400	$ 35,300
Preferred OP units - mandatorily redeemable | $		$ 35,249		$ 35,249
Preferred OP units [Member]
Debt Instrument [Line Items]
Convertible units to shares (in shares) | shares			270,000
Debt Instrument, Interest Rate During Period | Rate			6.50%
Preferred OP units - mandatorily redeemable | $		34,663		34,663
Preferred OP units [Member] | Convertible debt - Aspen Preferred OP Units January 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount | $		$ 34,700		$ 34,700
Convertible units to shares (in shares) | shares		406,470
Debt Instrument, Interest Rate During Period | Rate			3.80%
Debt Instrument, Convertible, Conversion Price | $ / shares			$ 27				$ 68
Debt Instrument, Convertible, Percent Of Amount By Which The Market Price Of Common Stock Exceeds Threshold | Rate			25.00%
Conversion of Stock, Shares Converted | shares			0.397

Debt And Lines Of Credit , Na_3

Debt And Lines Of Credit , Narrative - Line of Credit (Details) $ / shares in Units, $ in Millions

Dec. 22, 2020USD ($)

Apr. 30, 2017

Mar. 31, 2021USD ($)sharesRate

Sep. 30, 2020USD ($)shares$ / sharesRate

Dec. 31, 2020USD ($)Rate

Dec. 31, 2021USD ($)

Dec. 31, 2020AUD ($)Rate

Dec. 21, 2020USD ($)

Oct. 30, 2020USD ($)

Mar. 31, 2020USD ($)

Oct. 31, 2019USD ($)

May 31, 2019USD ($)

Apr. 25, 2017USD ($)Rate

Dec. 31, 2015$ / shares

Line of Credit Facility [Line Items]

Financial Instruments Subject to Mandatory Redemption, Term

7 years

Long-term Debt

$ 180,000,000

$ 6,600,000

Lines of credit

$ 917,603,000

$ 1,242,197,000

Weighted average interest rate | Rate

3.394%

3.37%

3.37%

Debt weighted average to maturity, length

9 years 6 months

9 years 4 months 24 days

Convertible units to shares (in shares) | shares

1,013,819

Safe Harbor

Line of Credit Facility [Line Items]

Letters of credit outstanding, amount

$ 300,000

Line of Credit [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Current Borrowing Capacity

$ 750,000,000

Line of credit, borrowing capacity

1,100,000,000

Debt Instrument, Maturity Date

May 21, 2023

Line of credit, additional borrowing capacity

350,000,000

Letters of credit outstanding, amount

$ 2,200,000

$ 2,100,000

Line of credit - manufactured home floor plan facility [Member]

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

$ 12,000,000

Lines of credit

3,200,000

$ 4,800,000

Preferred OP units [Member]

Line of Credit Facility [Line Items]

Weighted average interest rate | Rate

5.932%

5.932%

Debt weighted average to maturity, length

5 years 1 month 6 days

Debt Instrument, Interest Rate During Period | Rate

6.50%

Convertible units to shares (in shares) | shares

270,000

Preferred OP units [Member] | Convertible debt - Aspen Preferred OP Units January 2024 [Member]

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 34,700,000

$ 34,700,000

Debt Instrument, Convertible, Conversion Price | $ / shares

$ 27

$ 68

Conversion of Stock, Shares Converted | shares

0.397

Debt Instrument, Convertible, Percent Of Amount By Which The Market Price Of Common Stock Exceeds Threshold | Rate

25.00%

Debt Instrument, Interest Rate During Period | Rate

3.80%

Convertible units to shares (in shares) | shares

406,470

Secured Debt [Member]

Line of Credit Facility [Line Items]

Long-term Debt

$ 0

0

Debt instrument, face amount

$ 230,000,000

$ 268,800,000

Debt Instrument, Interest Rate, Stated Percentage

2.995%

2.662%

Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member]

Line of Credit Facility [Line Items]

Basis points | Rate

10000.00%

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

650,000,000

Long-term Debt

352,900,000

$ 40,400,000

Lines of credit

917,603,000

Revolving Credit Facility [Member] | Safe Harbor

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

$ 1,300,000,000

$ 500,000,000

Lines of credit

$ 19,000,000

$ 652,000,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 829,000,000

Line of Credit Facility, Maximum Borrowing Capacity, Incremental

500,000,000

350,000,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 829,000,000

Line of Credit Facility, Maximum Borrowing Capacity, Incremental

$ 500,000,000

$ 350,000,000

Revolving Credit Facility [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Weighted average interest rate | Rate

1.746%

2.078%

2.078%

Debt weighted average to maturity, length

2 years 10 months 24 days

3 years 8 months 12 days

Revolving Credit Facility [Member] | Term Loan [Member]

Line of Credit Facility [Line Items]

Lines of credit

$ 42,500,000

$ 45,000,000

$ 58,000,000

Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Line of credit variable interest rate | Rate

1.20%

1.20%

Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

2.00%

Revolving Credit Facility [Member] | Base Rate | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

1.00%

Term Loan [Member]

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

$ 100,000,000

$ 100,000,000

Term Loan [Member] | Safe Harbor

Line of Credit Facility [Line Items]

Long-term Debt

$ 500,000,000

$ 500,000,000

Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Line of credit variable interest rate | Rate

1.20%

Minimum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Interest rate | Rate

1.20%

Minimum [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

1.375%

Minimum [Member] | Revolving Credit Facility [Member] | Base Rate | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

0.375%

Minimum [Member] | Term Loan [Member]

Line of Credit Facility [Line Items]

Interest rate

1.20%

Minimum [Member] | Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Interest rate | Rate

1.20%

1.20%

Maximum [Member] | Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member]

Line of Credit Facility [Line Items]

Interest rate | Rate

7.00%

Debt Instrument, Interest Rate, Stated Percentage | Rate

6.00%

Maximum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Interest rate | Rate

2.10%

Maximum [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

2.25%

Maximum [Member] | Revolving Credit Facility [Member] | Base Rate | Safe Harbor

Line of Credit Facility [Line Items]

Basis points

1.25%

Maximum [Member] | Term Loan [Member]

Line of Credit Facility [Line Items]

Interest rate

2.05%

Maximum [Member] | Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member]

Line of Credit Facility [Line Items]

Interest rate | Rate

2.05%

GTSC [Member]

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

$ 180,000,000

$ 125,000,000

Long-term Debt

$ 72,000,000

$ 67,100,000

Ownership percentage

40.00%

40.00%

RezPlot [Member]

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 10,000,000

Ownership percentage

50.00%

Debt Instrument, Interest Rate, Stated Percentage

3.00%

Convertible Notes Payable

$ 4,000,000

Sungenia JV [Member]

Line of Credit Facility [Line Items]

Line of credit, borrowing capacity

20,500,000

$ 27

Long-term Debt

$ 3,300,000

Ownership percentage

50.00%

50.00%

Debt Instrument, Interest Rate, Stated Percentage

2.05%

GTSC [Member]

Line of Credit Facility [Line Items]

Long-term Debt

$ 167,700,000

GTSC [Member] | London Interbank Offered Rate (LIBOR) [Member]

Line of Credit Facility [Line Items]

Basis points

1.65%

Sungenia JV [Member] | Total Sungenia Debt

Line of Credit Facility [Line Items]

Long-term Debt

$ 6,700,000

Sungenia JV [Member] | JV Debt, Affiliated Entity Portion

Line of Credit Facility [Line Items]

Long-term Debt

$ 3,300,000

Equity and Temporary Equity, Na

Equity and Temporary Equity, Narrative (Details) $ / shares in Units, $ in Thousands

Oct. 05, 2021USD ($)

Mar. 02, 2021USD ($)$ / sharesshares

Dec. 31, 2020USD ($)shares

Oct. 31, 2020USD ($)$ / sharesshares

Sep. 30, 2020$ / sharesshares

May 31, 2020USD ($)shares

Feb. 28, 2020

Jan. 31, 2020

Aug. 31, 2019USD ($)

Feb. 28, 2019$ / sharesRateshares

Jun. 30, 2018USD ($)

Mar. 31, 2021USD ($)$ / sharesRateshares

Mar. 31, 2020USD ($)shares

Sep. 30, 2020USD ($)

Sep. 30, 2018USD ($)

Class of Stock [Line Items]

Sale of Stock, Number of Shares Issued in Transaction

8,050,000

9,200,000

4,968,000

Sale of Stock, Price Per Share | $ / shares

$ 140

$ 139.50

Proceeds from Issuance of Common Stock | $

$ 537,600

$ 633,100

Variable Interest Entity, Equity Interests Issued | $

$ 2,400

Issuance of common stock and common OP units, net | $

$ 1,100,000

$ 163,800

Aggregate Value of Shares to be Issued in Accordance to Sales Agreement | $

$ 450,000

Commission, Maximum Percentage of Gross Sales Price Per Share According to Sales Agreement

2.00%

Temporary Equity, Dividends For Term Two, Percentage

3.00%

Sale of Stock, Number of Shares Issued in Transaction, Direct

4,000,000

Sale of Stock, Number of Shares Issued in Transaction, Forward Equity Sales

4,050,000

Net Proceeds From Forward Equity Offering | $

$ 544,300

Series E Preferred OP Units

Class of Stock [Line Items]

Temporary Equity, Dividends For Term One, Percentage

5.25%

Series A-4 Preferred Stock, Shares Issued

90,000

Temporary Equity, Issuance Price | $ / shares

$ 100

Temporary Equity, Dividends For Term Two, Percentage | Rate

5.50%

Shares outstanding (in shares)

90,000

90,000

Series E Preferred OP Units | Maximum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

145

Series E Preferred OP Units | Minimum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

100

Series D Preferred OP Units

Class of Stock [Line Items]

Temporary Equity, Dividends For Term One, Percentage

3.75%

Series A-4 Preferred Stock, Shares Issued

488,958

Temporary Equity, Issuance Price | $ / shares

$ 100

Temporary Equity, Dividends For Term Two, Percentage | Rate

4.00%

Shares outstanding (in shares)

488,958

Series D Preferred OP Units | Maximum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

160

125

Series D Preferred OP Units | Minimum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

100

Common Stock

Class of Stock [Line Items]

Dividends per common share | $ / shares

$ 0.83

Payments of dividends | $

$ 94,966

Series F Preferred OP Units

Class of Stock [Line Items]

Series A-4 Preferred Stock, Shares Issued

90,000

Temporary Equity, Issuance Price | $ / shares

$ 100

Shares outstanding (in shares)

90,000

90,000

Series F Preferred OP Units | Minimum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

100

Series G Preferred OP Units

Class of Stock [Line Items]

Temporary Equity, Dividends For Term One, Percentage

3.20%

Series A-4 Preferred Stock, Shares Issued

240,710

260,710

Series G Preferred OP Units | Maximum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

155

Series G Preferred OP Units | Minimum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

100

Series H Preferred OP Units

Class of Stock [Line Items]

Temporary Equity, Dividends For Term One, Percentage

3.00%

Series A-4 Preferred Stock, Shares Issued

581,407

581,407

Temporary Equity, Issuance Price | $ / shares

$ 100

Shares outstanding (in shares)

581,407

Series H Preferred OP Units | Maximum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

164

Series H Preferred OP Units | Minimum [Member]

Class of Stock [Line Items]

Convertible Preferred Stock, Shares Issued Per Share Upon Conversion

100

Common Stock

Class of Stock [Line Items]

Issuance of common stock and common OP units, net | $

$ 42

$ 1

Conversion of Common OP Units

Class of Stock [Line Items]

Conversion of Common OP Units to common stock (in shares)

24,912

11,949

Conversion of Common OP Units | Common OP Units

Class of Stock [Line Items]

Conversion of Common OP Units to common stock (in shares)

24,912

11,949

Series A-1 Preferred OP Units

Class of Stock [Line Items]

Conversion of Common OP Units to common stock (in shares)

10,525

16,283

Series A-1 Preferred OP Units | Common OP Units

Class of Stock [Line Items]

Conversion of Common OP Units to common stock (in shares)

4,316

6,677

NG Sun LLC [Member] | Sun NG RV Resorts [Member]

Class of Stock [Line Items]

Variable Interest Entity, Equity Interests Issued, Floating Rate

5.00%

NG Sun LLC [Member] | Common Stock | Sun NG RV Resorts [Member]

Class of Stock [Line Items]

Variable Interest Entity, Equity Interests Issued | $

$ 6,500

Sun NG RV Resorts [Member] | Common Stock

Class of Stock [Line Items]

Variable Interest Entity, Equity Interests Issued | $

3,000

Sun NG RV Resorts [Member] | Common Stock | Sun NG RV Resorts [Member]

Class of Stock [Line Items]

Variable Interest Entity, Equity Interests Issued | $

$ 15,400

NG Sun Whitewater [Member]

Class of Stock [Line Items]

Variable Interest Entity, Equity Interest | $

$ 5,100

$ 5,100

Sun Menifee

Class of Stock [Line Items]

Payments to Acquire Limited Partnership Interests | $

$ 100

Noncontrolling Interest in Limited Partnerships | $

$ 100

Forecast

Class of Stock [Line Items]

Proceeds from Issuance of Common Stock | $

$ 1,230,000

Forest Springs | Common OP Units

Class of Stock [Line Items]

Equity interest issued or issuable, number of shares (in shares)

82,420

Safe Harbor Rybovich | Common OP Units

Class of Stock [Line Items]

Equity interest issued or issuable, number of shares (in shares)

130,475

Safe Harbor | Common OP Units

Class of Stock [Line Items]

Equity interest issued or issuable, number of shares (in shares)

55,403

Equity and Temporary Equity, Co

Equity and Temporary Equity, Conversion of Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended					3 Months Ended
	Sep. 30, 2020$ / shares	May 31, 2020shares	Feb. 28, 2020	Jan. 31, 2020$ / shares	Feb. 28, 2019$ / sharesRateshares	Mar. 31, 2021USD ($)$ / sharesRateshares	Mar. 31, 2020shares	Dec. 31, 2020shares	Oct. 31, 2020USD ($)
Conversion of Stock [Line Items]
Temporary Equity, Dividends For Term Two, Percentage		3.00%
SHM South Fork | Safe Harbor
Conversion of Stock [Line Items]
Real Estate Investments, Joint Ventures | $						$ 4.1			$ 4.3
Conversion of Common OP Units
Conversion of Stock [Line Items]
Conversion of units						24,912	11,949
Series A-1 Preferred OP Units
Conversion of Stock [Line Items]
Conversion of units						10,525	16,283
Series D Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Dividends For Term Two, Percentage | Rate					4.00%
Temporary Equity, Shares Issued					488,958
Temporary Equity, Issuance Price | $ / shares					$ 100
Temporary Equity, Dividends For Term One, Percentage					3.75%
Temporary Equity, Shares Outstanding						488,958
Series D Preferred OP Units | Minimum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion					100
Series D Preferred OP Units | Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion			160		125
Common OP Units | Conversion of Common OP Units
Conversion of Stock [Line Items]
Conversion Rate						1
Conversion of units						24,912	11,949
Common OP Units | Series A-1 Preferred OP Units
Conversion of Stock [Line Items]
Conversion Rate						2.4390
Conversion of units						4,316	6,677
Series I Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Shares Issued								922,000
Temporary Equity, Issuance Price | $ / shares				$ 100
Temporary Equity, Dividends For Term One, Percentage				3.00%
Temporary Equity, Shares Outstanding						922,000
Series I Preferred OP Units | Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion				164
Series E Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Dividends For Term Two, Percentage | Rate						5.50%
Temporary Equity, Shares Issued						90,000
Temporary Equity, Issuance Price | $ / shares						$ 100
Temporary Equity, Dividends For Term One, Percentage						5.25%
Temporary Equity, Shares Outstanding						90,000		90,000
Series E Preferred OP Units | Minimum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion				100
Series E Preferred OP Units | Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion				145
Series F Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Shares Issued		90,000
Temporary Equity, Issuance Price | $ / shares	$ 100
Temporary Equity, Shares Outstanding						90,000		90,000
Series F Preferred OP Units | Minimum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion			100

Share-Based Compensation (Detai

Share-Based Compensation (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)numberOfPlans$ / sharesshares	Mar. 31, 2020$ / sharesshares	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Of Share-Based Compensation Plans | numberOfPlans	2
Share-based Compensation Arrangement By Share-based Payment Award, Fair Value Assumptions, Percent Expected To Vest	65.50%	75.60%
Granted, shares (in shares)		69,368
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	252,153	144,231
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	1,500
Proceeds from Stock Options Exercised | $	$ 0.1
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $ / shares		$ 137.63
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		13,873
Weighted average grant date fair value | $ / shares		$ 140.39
Time Based [Member] | Director [Member] | Restricted Stock [Member] | 2004 Non-employee Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		10,200
Weighted average grant date fair value | $ / shares		$ 147.97
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price | $ / shares	$ 151.89		$ 147.19	$ 165.97
Award Date One [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	54,000
Weighted average grant date fair value | $ / shares	$ 151.89
Award Date One [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20.00%	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years	5 years
Award Date One [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	1,509
Weighted average grant date fair value | $ / shares	$ 147.19
Award Date One [Member] | Director [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%
Award Date One [Member] | Director [Member] | Restricted Stock [Member] | 2004 Non-employee Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		100.00%
Award Date One [Member] | Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	28,856
Weighted average grant date fair value | $ / shares	$ 151.89
Award Date One [Member] | Key Employees [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33.30%	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years	5 years
Award Date Two [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	81,000
Weighted average grant date fair value | $ / shares	$ 99.49
Award Date Two [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years
Award Date Two [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	10,200
Award Date Two [Member] | Director [Member] | 2004 Non-employee Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $ / shares	$ 148.44
Award Date Two [Member] | Director [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%
Award Date Two [Member] | Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	61,550
Weighted average grant date fair value | $ / shares	$ 143.28
Award Date Two [Member] | Key Employees [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20.00%	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years	5 years
Award Date Two [Member] | Time Based [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		46,000
Weighted average grant date fair value | $ / shares		$ 165.97
Award Date Two [Member] | Time Based [Member] | Key Employees [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		1,500
Weighted average grant date fair value | $ / shares		$ 143.20
Award Date Three | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	15,000
Weighted average grant date fair value | $ / shares	$ 151.89
Award Date Three | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33.30%	100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Award Date Three | Key Employees [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years
Award Date Three | Time Based [Member] | Key Employees [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		51,790
Weighted average grant date fair value | $ / shares		$ 162.42
Award Date Three | Market Condition [Member] | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)		69,000
Weighted average grant date fair value | $ / shares		$ 125.47
Award Date Four | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	15,000
Weighted average grant date fair value | $ / shares	$ 99.49
Award Date Four | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%
Award Date Five | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	3,400
Weighted average grant date fair value | $ / shares	$ 147.19
Award Date Five | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Award Date Six
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares (in shares)	5,100
Award Date Six | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $ / shares	$ 96.41
Award Date Six | Executive Officer [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%

Segment Reporting Segment Repor

Segment Reporting Segment Reporting, Seasonality (Details) $ in Thousands	3 Months Ended					12 Months Ended
	Mar. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Expected annual transient RV revenue						$ 134,700
Assets	$ 11,454,209	$ 11,206,586				11,206,586
Goodwill	438,842	$ 428,833				428,833	$ 428,833
Real Property Operations Segment [Member]
Segment Reporting Information [Line Items]
Transient RV rental revenue recognized as a percentage		20.70%	44.90%	15.60%	18.80%
Assets	5,348,617	$ 5,353,492				5,353,492
Goodwill	0	0				0
Marina Sale Segment
Segment Reporting Information [Line Items]
Assets	2,702,002	2,622,448				2,622,448
Goodwill	$ 438,842	$ 428,833				$ 428,833

Segment Reporting Results of Op

Segment Reporting Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue From Home Sales	$ 442,015	$ 310,302
Brokerage commissions and other, net	5,960	3,913
General and administrative expense	(38,203)	(25,349)
Catastrophic weather related charges	(2,414)	(606)
Gain (Loss) on Extinguishment of Debt	0	(3,279)
Interest on mandatorily redeemable preferred OP units / equity	(1,036)	(1,041)
Remeasurement Of Marketable Securities	3,661	(28,647)
Gain / (loss) on foreign currency translation	25	(17,479)
Other expense, net	(1,099)	(972)
Loss on Remeasurement of Notes Receivable	376	(2,112)
Distributions from Affiliate	1,171	52
Loss on Remeasurement of Investment	104	(2,191)
Deferred Income Tax Expense (Benefit)	147	130
Net Income / (Loss)	27,941	(15,478)
Less: Preferred return to Series A-1 preferred OP units	2,864	1,570
Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders	24,782	(16,086)
RV
Segment Reporting Information [Line Items]
Revenue From Home Sales	95,795	85,043
MH
Segment Reporting Information [Line Items]
Revenue From Home Sales	250,080	225,259
Marinas
Segment Reporting Information [Line Items]
Revenue From Home Sales	96,140
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue From Home Sales	433,424	304,039
Property operating expenses	212,982	127,731
Operating Income (Loss), Total	220,442	176,308
Operating Segments [Member] | Home Sales and Home Rentals Segment [Member]
Segment Reporting Information [Line Items]
Revenue From Home Sales		82,878
Property operating expenses		42,659
Operating Segments [Member] | RV
Segment Reporting Information [Line Items]
Revenue From Home Sales	92,363
Property operating expenses	51,763
Operating Income (Loss), Total	40,600	40,219
Operating Segments [Member] | MH
Segment Reporting Information [Line Items]
Revenue From Home Sales	245,474	221,161
Property operating expenses	97,024	85,072
Operating Income (Loss), Total	148,450	136,089
Operating Segments [Member] | Marinas
Segment Reporting Information [Line Items]
Revenue From Home Sales	95,587
Property operating expenses	64,195
Operating Income (Loss), Total	31,392
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest income	2,631	2,350
Brokerage commissions and other, net	5,960	3,913
General and administrative expense	(38,203)	(25,349)
Catastrophic weather related charges	(2,414)	(606)
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	(1,232)	0
Depreciation and amortization	(123,304)	(83,689)
Gain (Loss) on Extinguishment of Debt	0	(3,279)
Interest expense	(39,517)	(32,416)
Interest on mandatorily redeemable preferred OP units / equity	(1,036)	(1,041)
Remeasurement Of Marketable Securities	3,661	(28,647)
Gain / (loss) on foreign currency translation	25	(17,479)
Other expense, net	(1,099)	(972)
Loss on Remeasurement of Notes Receivable	376	(2,112)
Distributions from Affiliate	1,171	52
Loss on Remeasurement of Investment	104	(2,191)
Current tax benefit / (expense)	229	(450)
Deferred Income Tax Expense (Benefit)	147	130
Net Income / (Loss)	27,941	(15,478)
Less: Preferred return to Series A-1 preferred OP units	2,864	1,570
Less: Amounts attributable to noncontrolling interests	295	(962)
Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders	$ 24,782	$ (16,086)

Segment Reporting Identifiable

Segment Reporting Identifiable Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net		$ 9,911,150	$ 9,715,791
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		120,174	92,641	$ 394,740	$ 34,830
Marketable securities		127,821	124,726
Inventory of manufactured homes		43,242	46,643
Notes and other receivables, net		249,009	221,650
Goodwill	$ 428,833	438,842	428,833
Collateralized receivables, net		300,554	305,611
Other assets		263,417	270,691
Total Assets		11,454,209	11,206,586
Real Property Operations Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net		4,828,033	4,823,174
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		71,119	53,152
Marketable securities		82,781	80,776
Inventory of manufactured homes		30,534	33,448
Notes and other receivables, net		149,187	144,027
Goodwill		0	0
Collateralized receivables, net		31,762	33,998
Other assets		155,201	184,917
Total Assets		5,348,617	5,353,492
Home Sales and Home Rentals Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net		3,187,398	3,038,686
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		38,695	28,919
Marketable securities		45,040	43,950
Inventory of manufactured homes		12,708	13,195
Notes and other receivables, net		56,264	44,002
Goodwill		0	0
Collateralized receivables, net		24,287	23,819
Other assets		39,198	38,075
Total Assets		3,403,590	3,230,646
Marina Sale Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net		1,895,719	1,853,931
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		10,360	10,570
Marketable securities		0	0
Inventory of manufactured homes		0	0
Notes and other receivables, net		43,558	33,621
Goodwill		438,842	428,833
Collateralized receivables, net		244,505	247,794
Other assets		69,018	47,699
Total Assets		$ 2,702,002	$ 2,622,448

Income Taxes , Narrative (Detai

Income Taxes , Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Minimum Percent of Income From Qualifying Sources to Allow For Real Estate Investment Trust Classification	9500.00%
Required Minimum Percent of Taxable Income Distributed to Stock Holders	9000.00%
Unrecognized Tax Benefits	$ 0	$ 0
Provision for state income taxes	200,000	500,000
Deferred Income Tax Expense (Benefit)	(147,000)	$ (130,000)
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Liabilities, Gross	$ 20,400,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Liabilities, Gross			$ 20,600,000

Earnings Per Share , Calculatio

Earnings Per Share , Calculation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator
Net Income / (Loss) Attributable to Sun Communities, Inc. Common Stockholders	$ 24,782	$ (16,086)
Less: allocation to restricted stock awards	152	(254)
Basic earnings - Net Income / (Loss) attributable to common stockholders after allocation to restricted stock awards	24,630	(15,832)
Add allocation to restricted stock awards	0	0
Diluted earnings - Net income attributable to common stockholders after allocation to restricted stock awards	$ 24,630	$ (15,832)
Denominator
Weighted average common shares outstanding	107,932,000	92,410,000
Add: common shares dilutive effect: March 2021 Forward Equity Offering	229,000	0
Add: dilutive stock options	0	1,000
Diluted weighted average common shares and securities	108,161,000	92,411,000
Earnings Per Share, Basic	$ 0.23	$ (0.17)
Earnings Per Share, Diluted	$ 0.23	$ (0.17)

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, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	5,714	4,924
Common OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2,596	2,408
Series A-1 Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	716	303
Series D Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	391	489
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	75	40
Series C preferred OP unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	340	310
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	406	1,284
Series E Preferred OP Units [Domain]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	62	90
Series F Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	56	0
Series G Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	155	0
Series H Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	355	0
Series I Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	562	0

Fair Value of Financial Instr_3

Fair Value of Financial Instruments , By Balance Sheet Grouping (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Financial assets
Notes and other receivables, net	$ 249,009		$ 221,650
Collateralized receivables, net	300,554		305,611
Notes Receivable, Fair Value Disclosure	58,286		52,638
Financial liabilities
Secured debt	3,430,420		3,444,967
Fair Value, Inputs, Level 1
Financial assets
Notes Receivable, Fair Value Disclosure	0		0
Fair Value, Inputs, Level 2
Financial assets
Notes Receivable, Fair Value Disclosure	0		52,638
Fair Value, Inputs, Level 3
Financial assets
Notes Receivable, Fair Value Disclosure	58,286		0
Installment notes receivable on manufactured homes, net
Financial assets
Notes and other receivables, net	84,109		85,866
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	84,109		0
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer to Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	85,866
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer Out of Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Net Earnings (Loss)
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	375
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Purchases and Issuances
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	1,212
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Sales and Settlements
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	(3,814)
Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Other Adjustments
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	470
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	58,286		0
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer to Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	52,638
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer Out of Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Net Earnings (Loss)
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Purchases and Issuances
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	6,793
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Sales and Settlements
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	(262)
Notes Receivable from Real Estate Developers | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Other Adjustments
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	(883)
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	18,156		15,842
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer to Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Transfer Out of Level 3
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Net Earnings (Loss)
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	71
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Purchases and Issuances
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	3,201
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Sales and Settlements
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	0
Other Contingent Liabilities, Contingent Consideration | Fair Value, Recurring | Fair Value, Inputs, Level 3 | Other Adjustments
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	(958)
Reported Value Measurement
Financial liabilities
Debt (excluding secured borrowings)	3,500,332		3,514,879
Lines of credit	917,603		1,242,197
Other liabilities (contingent consideration)	18,156		15,842
Financial Liabilities Fair Value Disclosure	4,436,091		4,772,918
Reported Value Measurement | Fair Value, Recurring
Financial liabilities
Assets, Fair Value Disclosure	270,216		263,230
Reported Value Measurement | Installment notes receivable on manufactured homes, net | Fair Value, Recurring
Financial assets
Notes and other receivables, net	84,109		85,866
Estimate of Fair Value Measurement | Fair Value, Recurring
Financial liabilities
Debt (excluding secured borrowings)	3,428,244		3,613,797
Lines of credit	917,603		1,242,197
Other liabilities (contingent consideration)	18,156		15,842
Financial Liabilities Fair Value Disclosure	4,364,003		4,871,836
Assets, Fair Value Disclosure	270,216		263,230
Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 1
Financial liabilities
Debt (excluding secured borrowings)	0		0
Lines of credit	0		0
Other liabilities (contingent consideration)	0		0
Financial Liabilities Fair Value Disclosure	0		0
Assets, Fair Value Disclosure	127,821		124,726
Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 2
Financial liabilities
Debt (excluding secured borrowings)	3,500,332		3,514,879
Lines of credit	917,603		1,242,197
Other liabilities (contingent consideration)	0		0
Financial Liabilities Fair Value Disclosure	4,417,935		4,757,076
Assets, Fair Value Disclosure	0		138,504
Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial liabilities
Debt (excluding secured borrowings)	0		0
Lines of credit	0		0
Other liabilities (contingent consideration)	18,156		15,842
Financial Liabilities Fair Value Disclosure	18,156		15,842
Assets, Fair Value Disclosure	142,395		0
Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net | Fair Value, Recurring
Financial assets
Notes and other receivables, net	84,109		85,866
Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 1
Financial assets
Notes and other receivables, net	0		0
Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 2
Financial assets
Notes and other receivables, net	0		85,866
Estimate of Fair Value Measurement | Installment notes receivable on manufactured homes, net | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial assets
Notes and other receivables, net	84,109		0
Marketable Securities [Member] | Fair Value, Recurring
Financial assets
Marketable securities	127,821		124,725	$ 94,727
Financial liabilities
Investment, Fair Value Adjustment	3,578	$ 6,132
Marketable Securities [Member] | Collateralized Receivables [Member] | Fair Value, Recurring
Financial liabilities
Investment, Fair Value Adjustment	138,500
Marketable Securities [Member] | Reported Value Measurement | Fair Value, Recurring
Financial assets
Marketable securities	127,821		124,726
Marketable Securities [Member] | Estimate of Fair Value Measurement | Fair Value, Recurring
Financial assets
Marketable securities	127,821		124,726
Marketable Securities [Member] | Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 1
Financial assets
Marketable securities	127,821		124,726
Marketable Securities [Member] | Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 2
Financial assets
Marketable securities	0		0
Marketable Securities [Member] | Estimate of Fair Value Measurement | Fair Value, Recurring | Fair Value, Inputs, Level 3
Financial assets
Marketable securities	$ 0		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments Marketable Securities (Details) - Marketable Securities [Member] - Fair Value, Recurring - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment, Additional Purchase	$ 0	$ 11,757
Beginning Balance	124,725	94,727
Ending Balance	127,821
Investment, Fair Value Adjustment	3,578	6,132
Investment, Foreign Current Translation Adjustment	(1,678)	10,138
Stock Issued During Period, Value, Dividend Reinvestment Plan	$ 1,196	$ 1,971

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (Excluding three months ended March 31, 2021)		$ 3,879
2020		4,741
2021		4,771
2022		5,144
2023		5,175
Thereafter		55,533
Total Lease Payments		79,243
Less: Imputed interest		(32,734)
Present Value of Lease Liabilities		46,509	$ 49,964
Finance Lease, Liability, Payment, Due [Abstract]
2021 (Excluding three months ended March 31, 2021)		208
2020		213
2021		178
2022		4,063
2023		0
Thereafter		0
Total Lease Payments		4,662
Less: Imputed interest		(335)
Present Value of Lease Liabilities		4,327
Operating And Finance Leases, Liability, Payments, Due Year Two		4,954
Operating And Finance Leases, Liability, Payments, Due Year Three		4,949
Operating And Finance Leases, Liability, Payments, Due Year Four		9,207
Operating And Finance Leases, Liability, Payments, Due Year Five		5,175
Operating And Finance Leases, Liability, Payments, Due after Year Five		55,533
Operating And Finance Leases, Liability, Payments, Remainder of Fiscal Year		4,087
Operating And Finance Leases, Liability, Payment, Due		83,905
Operating And Finance Leases, Liability, Undiscounted Excess Amount		(33,069)
Operating And Finance Leases, Liability		$ 50,836
Lessee, Lease, Description [Line Items]
Lessor, Operating Lease, Payment to be Received, Year One	$ 8,261
Lessor, Operating Lease, Payment to be Received, Year Two	6,951
Lessor, Operating Lease, Payment to be Received, Year Three	5,039
Lessor, Operating Lease, Payment to be Received, Year Four	2,090
Lessor, Operating Lease, Payment to be Received, Year Five	1,220
Lessor, Operating Lease, Payment to be Received, after Year Five	2,628
Lessor, Operating Lease, Payments to be Received	$ 26,189

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease liability	$ 46,509		$ 49,964
Finance lease liability	4,327
Lease Income	3,657	$ 311
Variable Lease, Income	$ 1,028	$ 397
Percent of Operating Leases Where Company is the Lessor	95.00%

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Amortization of right - of-use assets	$ 6	$ (18)
Interest on lease liabilities	26	26
Operating lease cost	2,148	974
Total lease expense	3,540	1,351
Operating cash flow used for operating leases	945	590
Financing cash flow used for finance leases	33	8
Capital Leased Assets, Gross	4,368		$ 4,350
Right of use asset obtained in exchange for new operating lease liabilities	59,272		48,419
Amortization of above and below Market Leases	$ 27,426		27,614
Weighted - average remaining lease term - finance leases (in years)	2 years 5 months 4 days
Weighted - average remaining lease term - operating leases (in years)	25 years 10 months 24 days
Weighted - average discount rate - finance leases (annual)	2.44%
Weighted - average discount rate - operating leases (annual)	3.80%
Present Value of Lease Liabilities	$ 4,327
Capital Lease Obligations	4,327		4,334
Present Value of Lease Liabilities	46,509		$ 49,964
Operating And Finance Lease, Payments	978	598
Below Market Leases
Lessee, Lease, Description [Line Items]
Variable lease expense	1,299	369
Short-term Lease, Cost	$ 61	$ 0

Subsequent Event (Details)

Subsequent Event (Details) $ / shares in Units, $ in Thousands	Apr. 21, 2021shares	Apr. 26, 2021USD ($)$ / shares	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)site	Apr. 01, 2021communitydevelopment_site	Jul. 01, 2020USD ($)
Subsequent Event [Line Items]
Cash paid for RV community acquired			$ 130,840	$ 1,923,855
Sites, Wet Slips and Dry Storage Spaces | site				45,800
Total consideration			$ 130,840	$ 3,001,343
Subsequent Event [Member] | Series J Preferred Op Units
Subsequent Event [Line Items]
Temporary Equity, Issuance Price | $ / shares		$ 100
Temporary Equity, Dividends For Term One, Percentage		2.85%
Subsequent Event [Member] | Series J Preferred Op Units | Maximum [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion		165
Subsequent Event [Member] | Series J Preferred Op Units | Minimum [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion		100
Subsequent Event [Member] | Series J Preferred Op Units | Brighton Preferred Op Units
Subsequent Event [Line Items]
Debt Instrument, Convertible, Number of Equity Instruments Affected and Outstanding | shares	240,000
Countryside Village
Subsequent Event [Line Items]
Consideration received						$ 12,600
Davenport, Florida RV Resort | Subsequent Event [Member]
Subsequent Event [Line Items]
Sites, Wet Slips and Dry Storage Spaces | development_site					148
Total consideration		$ 25,000
Brighton, Michigan MH Community | Subsequent Event [Member]
Subsequent Event [Line Items]
Sites, Wet Slips and Dry Storage Spaces | community					476
Total consideration		$ 24,000