XXXX Thanks, Patrick, first and provide and quarter quarter overview good results an guidance. our and of our second morning, everyone. will I XXXX review year full
quarter, core our been was $XX.X also FFO generated per $X.XX per includes FFO. that normalized with in share share quarter revenue recovery the in performance First growth line line guidance. was deducted our of X.X% normalized and million insurance has $X.XX with from FFO expectations. in portfolio Strong
renewing to Rental new currently X.X% resident quarter the increased XXX MH as income paid noticed Core homeowners primarily compared residents rent increases in of We homes to community-based for our residents a XXXX, and quarter. the occupancy. of rental result sites by increased turnover. after by represent market X.X%
core from quarter compared marina-based rental first Rent in income and First growth to annuals X.X% XXXX. was increased quarter resort X%. the
year, of reminder, the in subsequent first leap the in to of which results XXXX. quarter, rate an a allocated expect XXXX a we is growth in higher As day additional quarters resulting revenue than
seasonal rent rent compared Our with and first rent X.X% quarter transient XXXX. performed increased to expectations. core in Seasonal quarter RV transient X.X% from first generally increased line and
expenses, sales for result subscription which For as effective million, $XX.X for was impact a our was net upgrade an prior of membership compared first Subscription increased million. quarter, increases marketing business, the quarter XXXX. revenues revenues by X% the annual contribution to the rate deferral and offset net from year.
The consists the of $X.X sales X.X% of increase and
we quarter, sold upgrades. the just During XXX over
other increased upgrade to increases representing adventure our estate income XXXX. sales. and of product, of first utility our average of sales Core percentage increased pass-through XXXX quarter recovery Our real tax with X.X%, sale attributed X% from upgrade XX% includes price which the
higher income was quarter XXXX. points first utility than XX basis Our the XX.X%, percentage recovery of about
insurance the effect expenses XXXX. several the maintenance period XXXX. quarter to with storms.
Utility compared approximately estate took when of X.X% to we Repairs and increases growth first gas and reflect our increase We reduced recover of run real premium decreased XXXX the Growth and winter quarter property insurance renewed X%. First increased was expenses particularly at X, in expenses rate consumption, incurred along April California. moderating and operating programs that taxes reflect in casualty the impact from after same to in rate compared core
We property midpoint property storm are no Core while result, the core and operating reflects named for which expansion change our program X.X%, revenues limits in of increased pleased coverage operating with damage. wind core deductibles expenses basis increased property than in our guidance. points of resulting management guidance, points growth higher our before XX the than in NOI of basis X.X%, lower of X.X%, XX midpoint the
and full The quarter, contributed the line intended package XXXX our supplemental Our with supplemental earnings in in risk rate of in expense quarter The press year million provide provide for and estimate to by $X.X future non-core overview properties release current expectations. guidance. second context an remarks following All factors results. of projections our package. revenue release are included and our and are and the growth press ranges qualified
property midpoint the to assumes FFO to to core our income assume first the guidance portfolio for $X.XX range We for XXXX stabilized of $X.XX is guidance X.X% midpoint per increase X.X% of full of in project expenses X.X%. MH share Our $X.XX, Core to year our growth will at X.X% at prior our Marina. the operating of to X.X% in year Full X.X% X.X% share and an We for of guidance increase X.X% $X.XX quarter. and guidance. base per MH are property RV occupancy compared growth projected year of normalized be ranges X.X%. to operating the to flat full range rent to core of
quarter impact for expense growth the first expense of of and as XXXX. includes rest maintenance of payroll assumption our X year well the insurance repairs full the savings April benefit and Our in as renewal
rate impact of expect in XXXX. fixed we the generate we or release swaps free The disclosed makes includes model in the flow other regarding no assumptions earnings package. our guidance and Our cash use guidance of supplemental model full year to events the capital
to of property of X.X% $X.XX at FFO Our of guidance to for $X.XX. normalized second core the be are our in and of year are guidance the operating the which our represents Core core provide X.X% at assumes range some projected range.
I'll our operating XX% market. balance midpoint to and both now quarter, the In on projected portfolio, our expected X.X%, sheet income projected second share midpoint growth comments increase guidance is range full property NOI. expenses the to approximately per increase revenues the financing quarter
in our cost we through As the The at XXXX. unsecured term noted swaps and $XXX million fixed release loan on rate supplemental all-in maturing borrowing in swaps earnings maturity. X.XX% package, the executed fixed
many execution our of exposure, with credit. time floating type pleased time eliminates quality. debt and including on on Current are terms rate lender, as to balances except secured it asset from and sponsor vary factors, We outstanding this line depending borrower
are Current between XX% XX-year X.Xx quoted loan-to-value X.XX%, XX% service coverage. X% and debt to to loans and X.Xx
continue financing see XX-year GSEs We terms. and to from to best companies lend solid assets age terms. qualified life interest command High-quality continue to MH for
Regarding on our approximately million ATM $XXX available line has capacity. our credit liquidity position, $XXX have million our we and of of program
weighted secured maturity debt years. Our average almost XX is
X.Xx, to debt is and X.Xx. Our adjusted coverage EBITDA interest is
importance us. balance multiple believe we and on sources high flexibility place available to to we sheet continue capital have We of
open for would we it like to Now up questions.