0000912593-21-000226 | 10-Q | XBRL Viewer

Print Document View Excel Document

Cover Page - shares	3 Months Ended	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Sep. 30, 2021	Oct. 19, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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			115,970,843
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		Q3
Current Fiscal Year End Date		--12-31
Amendment Flag		false

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Land	$ 2,457,236	$ 2,119,364
Land improvements and buildings	9,469,247	8,480,597
Rental homes and improvements	591,367	637,603
Furniture, fixtures and equipment	590,829	447,039
Investment property	13,108,679	11,684,603
Accumulated depreciation	(2,232,243)	(1,968,812)
Investment property, net (including $567,026 and $453,236 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	10,876,436	9,715,791
Cash, cash equivalents and restricted cash	85,619	92,641
Marketable securities (see Note 14)	160,321	124,726
Inventory of manufactured homes	43,708	46,643
Notes and other receivables, net	256,924	221,650
Goodwill	461,609	428,833
Other intangible assets, net	297,625	305,611
Other assets, net (including $28,670 and $25,072 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	401,054	270,691
Total Assets	12,583,296	11,206,586
Liabilities
Secured debt (see Note 8) (including $49,054 and $47,706 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	3,403,436	3,489,983
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,286,001	1,267,093
Distributions payable	98,453	86,988
Advanced reservation deposits and rent	223,471	187,730
Accrued expenses and accounts payable	232,590	148,435
Other liabilities (including $22,908 and $22,221 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	244,518	134,650
Total Liabilities	5,488,469	5,314,879
Temporary equity (see Note 9) (including $37,064 and $32,719 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	292,394	264,379
Stockholders' Equity
Common stock, $0.01 par value. Authorized: 180,000 shares; Issued and outstanding: 115,959 September 30, 2021 and 107,626 December 31, 2020	1,160	1,076
Additional paid-in capital	8,170,322	7,087,658
Accumulated other comprehensive income	1,752	3,178
Distributions in excess of accumulated earnings	(1,475,634)	(1,566,636)
Total Sun Communities, Inc. stockholders' equity	6,697,600	5,525,276
Noncontrolling interests
Common and preferred OP units	85,756	85,968
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	19,077	16,084
Total noncontrolling interests	104,833	102,052
Total Stockholders' Equity	6,802,433	5,627,328
Total Liabilities, Temporary Equity and Stockholders' Equity	12,583,296	11,206,586
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Investment property, net (including $567,026 and $453,236 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	567,026	453,236
Other assets, net (including $28,670 and $25,072 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	28,670	25,072
Total Assets	595,696	478,308
Liabilities
Secured debt (see Note 8) (including $49,054 and $47,706 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	49,054	47,706
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	35,249	35,249
Other liabilities (including $22,908 and $22,221 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	22,908	22,221
Total Liabilities	107,211	105,176
Noncontrolling interests
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	18,527	16,084
Aspen Series B3 Preferred Operating Partnership Units [Member]
Liabilities
Secured debt (see Note 8) (including $49,054 and $47,706 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	34,663
Estimate of Fair Value Measurement \| Fair Value, Recurring
Liabilities
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	$ 1,301,101	$ 1,267,093

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investment property, net	$ 10,876,436	$ 9,715,791
Other assets	401,054	270,691
Secured debt	3,403,436	3,489,983
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,286,001	1,267,093
Other liabilities	244,518	134,650
Temporary Equity, Consolidated VIE	$ 37,064	$ 32,719
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	180,000,000	180,000,000
Common Stock, Shares Issued	115,959,000	107,626,000
Common Stock, Shares Outstanding	115,959,000	107,626,000
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	$ 19,077	$ 16,084
Variable Interest Entity, Primary Beneficiary [Member]
Investment property, net	567,026	453,236
Other assets	28,670	25,072
Secured debt	49,054	47,706
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	35,249	35,249
Other liabilities	22,908	22,221
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	$ 18,527	$ 16,084

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
REVENUES
Real property	$ 478,625	$ 320,488	$ 1,215,143	$ 829,964
Home sales	81,099	47,662	215,146	126,779
Service, retail, dining and entertainment	113,039	23,859	270,103	36,662
Interest	2,690	2,624	8,040	7,609
Brokerage commissions and other, net	8,841	5,881	21,740	13,068
Total Revenues	684,294	400,514	1,730,172	1,014,082
Expenses
Property operating and maintenance	158,095	98,775	391,609	239,413
Real estate tax	24,751	17,442	70,361	52,341
Home costs and selling	56,567	39,899	156,920	105,989
Service, retail, dining and entertainment	87,106	17,615	211,122	31,539
General and administrative	43,276	26,834	126,606	78,710
Catastrophic event-related charges, net	328	14	3,097	54
Business combination	0	0	1,031	0
Depreciation and amortization	127,091	88,499	378,068	259,453
Loss on extinguishment of debt (see Note 8)	0	0	8,108	5,209
Interest	39,026	30,214	116,224	94,058
Interest on mandatorily redeemable preferred OP units / equity	1,047	1,047	3,124	3,130
Total Expenses	537,287	320,339	1,466,270	869,896
Income Before Other Items	147,007	80,175	263,902	144,186
Remeasurement Of Marketable Securities	12,072	1,492	43,227	(2,636)
Gain / (loss) on foreign currency translation	(7,028)	5,023	(7,107)	(2,496)
Gain on dispositions of properties	108,104	5,595	108,104	5,595
Other expense, net	(9,372)	(3,511)	(10,041)	(4,890)
Gain / (loss) on remeasurement of notes receivable (see Note 4)	92	(445)	561	(2,311)
Distributions from Affiliate	962	1,204	2,927	1,348
Loss on Remeasurement of Investment	(119)	(446)	(130)	(1,505)
Current tax benefit / (expense) (see Note 12)	(402)	107	(1,418)	(462)
Deferred Income Tax Expense (Benefit)	(1,155)	562	(1,074)	(804)
Net Income	250,161	89,756	398,951	137,633
Less: Preferred return to preferred OP units / equity interests	3,101	1,645	9,000	4,799
Less: Income attributable to noncontrolling interests	15,290	6,907	22,629	8,806
Net Income Attributable to Sun Communities, Inc.	$ 231,770	$ 81,204	$ 367,322	$ 124,028
Weighted average common shares outstanding:
Weighted average common shares outstanding - basic	115,136	97,542	111,717	95,270
Weighted average common shares outstanding - diluted	118,072	97,549	114,291	95,273
Earnings per share:
Earnings Per Share, Basic	$ 2.00	$ 0.83	$ 3.27	$ 1.29
Earnings Per Share, Diluted	$ 2.00	$ 0.83	$ 3.27	$ 1.29

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 250,161	$ 89,756	$ 398,951	$ 137,633
Foreign currency translation gain / (loss) adjustment	3,606	2,146	1,491	(1,282)
Total Comprehensive Income	246,555	91,902	397,460	136,351
Less: Comprehensive income attributable to noncontrolling interests	(15,129)	(6,804)	(22,564)	(8,419)
Comprehensive Income attributable to Sun Communities, Inc.	$ 231,426	$ 85,098	$ 374,896	$ 127,932

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities
Net Cash Provided By Operating Activities	$ 656,010	$ 464,458
Investing Activities
Investment in properties	(476,536)	(401,976)
Acquisitions of properties, net of cash acquired	(1,099,753)	(256,359)
Proceeds from disposition of assets and depreciated homes, net	80,765	37,389
Proceeds from disposition of properties	162,077	12,612
Issuance of notes and other receivables	(17,114)	(35,188)
Repayments of notes and other receivables	4,091	2,713
Investments in nonconsolidated affiliates	(27,398)	(33,390)
Distributions from nonconsolidated affiliates	10,716	8,491
Net Cash Used For Investing Activities	(1,363,152)	(665,708)
Financing Activities
Issuance of common stock, OP units and preferred OP units, net	1,059,048	619,793
Borrowings on lines of credit	2,405,240	1,221,980
Payments on lines of credit	(3,014,367)	(1,318,986)
Proceeds from issuance of debt	598,990	230,000
Contributions from noncontrolling interest	1,608	0
Payments on debt	(49,862)	(229,742)
Fees paid in connection with extinguishment of debt	(195)	(6,226)
Distributions	(289,112)	(231,500)
Payments for deferred financing costs	(10,961)	(3,322)
Net Cash Provided By Financing Activities	700,389	281,997
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(269)	(48)
Net change in cash, cash equivalents and restricted cash	(7,022)	80,699
Cash, cash equivalents and restricted cash, beginning of period	92,641	34,830
Cash, Cash Equivalents and Restricted Cash, End of Period	85,619	115,529
SUPPLEMENTAL INFORMATION:
Interest Paid, Excluding Capitalized Interest, Operating Activities	113,313	100,047
Cash paid for interest on mandatorily redeemable debt	3,124	3,130
Cash paid for income taxes	928	1,069
Noncash investing and financing activities
Change in distributions declared and outstanding	11,438	7,861
Conversion of common and preferred OP units	2,784	793
Asset held for sale	705	0
Common Stock And OP Units
Noncash investing and financing activities
Noncash investing and financing activities at the date of acquisition	0	10,114
Series E Preferred OP Units
Noncash investing and financing activities
Noncash investing and financing activities at the date of acquisition	0	9,000
Series F Preferred OP Units
Noncash investing and financing activities
Noncash investing and financing activities at the date of acquisition	0	9,000
Series G Preferred OP Units
Noncash investing and financing activities
Noncash investing and financing activities at the date of acquisition	0	26,071
Series J Preferred Op Units
Noncash investing and financing activities
Noncash investing and financing activities at the date of acquisition	24,000	0
Contingent Consideration Liability
Noncash investing and financing activities
Contingent consideration liability related to prior acquisitions	$ 15,332	$ 0

Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Interest Costs Capitalized	$ 3,471	$ 7,169

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 Income	Non-controlling Interests	Total Stockholders' Equity	Total Equity	Common OP Units Common Stock	Common OP Units Additional Paid-in Capital	Common OP Units Non-controlling Interests
Beginning Balance at Dec. 31, 2019		$ 78,004
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		98
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
Equity interests					85			85	(13)
Issuance of Series E preferred OP units				181			8,819	9,000	9,000
Share-based compensation - amortization and forfeitures				4,928	93			5,021	5,021
Foreign currency translation						(6,994)	(306)	(7,300)	(7,300)
Remeasurement of notes receivable and equity method investment					1,953			1,953	1,953
Net income / (loss)					(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, 2019		78,004
Ending Balance at Sep. 30, 2020	$ 112,549
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]
Net income / (loss)	124,028
Ending Balance at Sep. 30, 2020	4,431,246		983	5,851,380	(1,491,338)	(2,226)	72,447		4,543,795
Beginning Balance at Dec. 31, 2019		78,004
Ending Balance at Dec. 31, 2020		264,379
Beginning Balance at Dec. 31, 2019			932	5,213,264	(1,393,141)	(1,331)	56,228	3,875,952	3,953,956
Ending 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
Beginning Balance at Mar. 31, 2020		76,450
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		(641)
Net income / (loss)		(300)
Distributions		(492)
Ending Balance at Jun. 30, 2020		83,982
Beginning Balance at Mar. 31, 2020			933	5,211,678	(1,479,424)	(8,325)	61,608	3,786,470	3,862,920
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net			49	628,506			10,114	638,669	638,669
Conversion of OP units										$ (1)	$ (130)	$ 131
Equity interests					67			67	708
Issuance of Series F preferred OP units		(8,965)							(8,965)
Share-based compensation - amortization and forfeitures				7,284	92			7,376	7,376
Foreign currency translation						3,850	22	3,872	3,872
Net income / (loss)					60,492		3,163	63,655	63,355
Distributions					(77,635)		(2,971)	(80,606)	(81,098)
Ending Balance at Jun. 30, 2020			983	5,847,598	(1,496,542)	(4,475)	71,805	4,419,369	4,503,351
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests	67
Net income / (loss)	2,958
Distributions	(529)
Ending Balance at Sep. 30, 2020	112,549
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net	(1,622)			(1,622)					(1,622)
Conversion of OP units											(216)	216
Equity interests	67				67
Issuance of Series F preferred OP units		(26,071)							(26,071)
Share-based compensation - amortization and forfeitures				5,188	63			5,251	5,251
Foreign currency translation	2,146					2,249	(103)		2,146
Net income / (loss)	81,204				82,849		3,949	86,798	89,756
Distributions	(80,629)				(77,641)		(2,988)		(81,158)
Ending Balance at Sep. 30, 2020	4,431,246		983	5,851,380	(1,491,338)	(2,226)	72,447		4,543,795
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											(1,150)	1,150
Equity interests					52			52
Share-based compensation - amortization and forfeitures				7,118	62			7,180	7,180
Foreign currency translation						855	40	895	895
Net income / (loss)					27,647		1,862	29,509	27,941
Distributions					(92,823)		(3,260)	(96,083)	(97,887)
Other				(20)	758		(141)	597	597
Ending Balance at Mar. 31, 2021			1,118	7,618,128	(1,631,044)	4,033	99,403	6,091,638	6,352,697
Beginning Balance at Dec. 31, 2020		264,379
Ending Balance at Sep. 30, 2021		292,394
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	21,400
Net income / (loss)	367,322
Ending Balance at Sep. 30, 2021	6,802,433		1,160	8,170,322	(1,475,634)	1,752	104,833	6,802,433	7,094,827
Beginning Balance at Mar. 31, 2021		261,059
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		53
Net income / (loss)		2,448
Distributions		(1,957)
Ending Balance at Jun. 30, 2021		285,603
Beginning Balance at Mar. 31, 2021			1,118	7,618,128	(1,631,044)	4,033	99,403	6,091,638	6,352,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net			40	537,557				537,597	537,597
Conversion of OP units										(1)	(296)	297
Equity interests					53			53
Issuance of Series F preferred OP units		(24,000)							(24,000)
Share-based compensation - amortization and forfeitures				7,099	74			7,173	7,173
Foreign currency translation						1,164	56	1,220	1,220
Net income / (loss)					113,804		4,597	118,401	120,849
Distributions					(96,188)		(3,143)	(99,331)	(101,288)
Other				15	(836)			(821)	(821)
Ending Balance at Jun. 30, 2021			1,159	8,163,095	(1,614,243)	5,197	100,616	6,655,824	6,941,427
Increase (Decrease) in Temporary Equity [Roll Forward]
Equity Interests		1,750					550	550	2,300
Net income / (loss)		7,023
Distributions		(2,038)
Ending Balance at Sep. 30, 2021		292,394
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common OP units, net				(813)				(813)	(813)
Conversion of OP units										$ (1)	$ (1,336)	$ 1,337
Equity interests		$ (56)			55			55	(1)
Share-based compensation - amortization and forfeitures				6,704	77			6,781	6,781
Foreign currency translation						(3,445)	(161)	(3,606)	(3,606)
Net income / (loss)	231,770				234,871		8,267	243,138	250,161
Distributions					(96,246)		(3,101)	(99,347)	(101,385)
Other					(38)		(1)	(39)	(39)
Ending Balance at Sep. 30, 2021	$ 6,802,433		$ 1,160	$ 8,170,322	$ (1,475,634)	$ 1,752	$ 104,833	$ 6,802,433	$ 7,094,827

Equity and Temporary Equity Equity and Temporary Equity, Dividends Payable Table (Details) - Common Stock $ in Thousands	9 Months Ended
	Sep. 30, 2021 USD ($) $ / shares
Dividends Payable [Line Items]
Dividends per common share \| $ / shares	$ 0.83
Payments of dividends \| $	$ 98,344

Equity and Temporary Equity Equity and Temporary Equity, Schedule of Sale of Common Stock (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended	15 Months Ended
	Jun. 04, 2021	Mar. 02, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2018
Aggregate Value of Shares to be Issued in Accordance to Sales Agreement	$ 500,000
Issuance of common stock and common OP units, net		$ 1,100,000	$ (1,622)	$ 21,400	$ 163,800

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 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. On January 1, 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. Beginning with the three months ended March 31, 2021, we report our financial results consistent with our newly realigned operating segments. All prior period amounts are recast 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. Our three reportable segments are: (i) Manufactured home ("MH") communities, (ii) Recreational vehicle ("RV") resorts and (iii) Marinas.

Revenue

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue

The following tables detail our revenue by major source (in thousands):


	Three Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marina		Consolidated		MH		RV		Marina	Consolidated
Revenues
Real property	$	203,648	$	185,765	$	89,212	$	478,625	$	188,177	$	132,311	N/A	$	320,488
Home sales	70,323		10,776		—		81,099		39,941		7,721		N/A	47,662
Service, retail, dining and entertainment	1,626		37,303		74,110		113,039		1,251		22,608		N/A	23,859
Interest	2,184		498		8		2,690		2,154		470		N/A	2,624
Brokerage commissions and other, net	3,636		4,846		359		8,841		2,920		2,961		N/A	5,881
Total Revenues	$	281,417	$	239,188	$	163,689	$	684,294	$	234,443	$	166,071	N/A	$	400,514

(1) Recast to reflect segment changes.


	Nine Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marina		Consolidated		MH		RV		Marina	Consolidated
Revenues
Real property	$	602,370	$	398,833	$	213,940	$	1,215,143	$	553,216	$	276,748	N/A	$	829,964
Home sales	185,576		29,570		—		215,146		110,797		15,982		N/A	126,779
Service, retail, dining and entertainment	5,340		64,061		200,702		270,103		4,377		32,285		N/A	36,662
Interest	6,353		1,656		31		8,040		6,293		1,316		N/A	7,609
Brokerage commissions and other, net	9,782		11,053		905		21,740		6,630		6,438		N/A	13,068
Total Revenues	$	809,421	$	505,173	$	415,578	$	1,730,172	$	681,313	$	332,769	N/A	$	1,014,082

(1) Recast to reflect segment changes.

Our revenue consists 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 slip and dry storage space 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 ASC. For additional information, refer to Note 1, "Significant Accounting Policies," in our 2020 Annual Report.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Real Estate Acquisitions

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Real Estate Acquisitions

Real Estate Acquisitions and Dispositions

2021 Acquisitions and dispositions

During the nine months ended September 30, 2021, we acquired the following MH communities, RV resorts and marinas:

Community Name

Type

Sites, Wet Slips and
Dry Storage Spaces

Development Sites

State / Province

Month Acquired

Sun Outdoors Association Island

RV: asset acquisition

294

—

January

Blue Water Beach Resort

RV: asset acquisition

177

—

February

Tranquility MHC

MH: asset acquisition

—

February

Islamorada and Angler House(1)

Marina: asset acquisition

251

—

February

Prime Martha's Vineyard(1)

Marina: asset acquisition

390

—

March

Pleasant Beach Campground

RV: asset acquisition

102

—

ON, Canada

March

Cherrystone Family Camping Resort

RV: asset acquisition

669

—

March

Beachwood Resort

RV: asset acquisition

672

—

March

ThemeWorld RV Resort

RV: asset acquisition

148

—

April

Sylvan Glen Estates(2)

MH: asset acquisition

476

—

April

Shelter Island Boatyard

Marina: asset acquisition

—

May

Lauderdale Marine Center

Marina: asset acquisition

202

—

May

Apponaug Harbor(3)

Marina: asset acquisition

378

—

June

Cabrillo Isle(4)

Marina: business combination

483

—

June

Marathon Marina

Marina: asset acquisition

147

—

June

Allen Harbor

Marina: asset acquisition

165

—

July

Cisco Grove Campground & RV

RV: asset acquisition

407

July

Four Leaf Portfolio(5)

MH: asset acquisition

2,545

340

MI / IN

July

Harborage Yacht Club

Marina: asset acquisition

300

—

July

Zeman Portfolio(6)

RV: asset acquisition

686

—

IL / NJ

July

Southern Leisure Resort

RV: asset acquisition

496

—

August

Sunroad Marina

Marina: asset acquisition

617

—

August

Lazy Lakes RV

RV: asset acquisition

—

August

Puerto del Rey

Marina: asset acquisition

1,450

—

Puerto Rico

September

Stingray Point

Marina: asset acquisition

219

—

September

Detroit River

Marina: asset acquisition

440

—

September

Jetstream RV Resort

RV: asset acquisition

202

—

September

Total

11,706

747

(1) Includes two marinas.

(2) In conjunction with the acquisition, we issued 240,000 Series J preferred OP units. As of September 30, 2021, 240,000 Series J preferred OP units were outstanding.

(3) Combined with an existing adjacent marina.

(4) Acquired in connection with the Safe Harbor acquisition. Transfer of the marina was contingent on receiving third party consent.

(5) Includes nine MH communities.

(6) Includes two RV communities.

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 nine months ended September 30, 2021 (in thousands):


	At Acquisition Date										Consideration
	Investment in property		Inventory of manufactured homes, boat parts and retail related items		In-place leases, goodwill and other intangible assets		Other assets / (liabilities), net		Total identifiable assets acquired net of liabilities assumed		Cash and escrow		Temporary and permanent equity		Total consideration
Asset Acquisition
Sun Outdoors Association Island	$	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	22,258		138		127		(573)		21,950		21,950		—		21,950
Pleasant Beach Campground	1,531		—		57		1		1,589		1,589		—		1,589
Cherrystone Family Camping Resort	59,669		—		231		(2,029)		57,871		57,871		—		57,871
Beachwood Resort	14,004		—		211		(7,616)		6,599		6,599		—		6,599
ThemeWorld RV Resort	25,000		—		—		(104)		24,896		24,896		—		24,896
Sylvan Glen Estates	23,469		20		531		(269)		23,751		(249)		24,000		23,751
Shelter Island Boatyard	9,520		132		402		(85)		9,969		9,969		—		9,969
Lauderdale Marine Center	336,992		—		3,282		958		341,232		341,232		—		341,232
Apponaug Harbor	6,540		—		89		(689)		5,940		5,940		—		5,940
Marathon Marina	19,129		19		261		(227)		19,182		19,182		—		19,182
Allen Harbor	3,946		30		35		(111)		3,900		3,900		—		3,900
Cisco Grove Campground & RV	6,609		—		—		22		6,631		6,631		—		6,631
Four Leaf Portfolio	210,723		319		3,958		(464)		214,536		214,536		—		214,536
Harborage Yacht Club	17,392		43		4,646		(504)		21,577		21,577		—		21,577
Zeman Portfolio	14,184		—		731		(545)		14,370		14,370		—		14,370
Southern Leisure Resort	17,476		—		274		(329)		17,421		17,421		—		17,421
Sunroad Marina	38,570		—		537		44,008		83,115		83,115		—		83,115
Lazy Lakes RV	11,300		—		—		(66)		11,234		11,234		—		11,234
Puerto Del Rey(1)	93,377		610		—		(2,086)		91,901		91,901		—		91,901
Stingray Point	2,852		—		46		(287)		2,611		2,611		—		2,611
Detroit River	8,737		—		159		(599)		8,297		8,297		—		8,297
Jetstream RV Resort	17,025		—		475		(199)		17,301		17,301		—		17,301




Business Combination(2)
Cabrillo Isle	37,647		—		10,073		(703)		47,017		47,017		—		47,017

Total	$	1,041,166	$	1,333	$	26,435	$	26,787	$	1,095,721	$	1,071,721	$	24,000	$	1,095,721

(1) Purchase price allocation is preliminary as of September 30, 2021, subject to revision based on the final purchase price allocation.

(2) Refer to Note 5, "Goodwill and Other Intangibles Assets," for additional detail on goodwill and other intangible assets.

As of September 30, 2021, we have incurred and capitalized $10.9 million of transaction costs which have been capitalized and allocated among the various fixed asset categories for purchases that meet the asset acquisition criteria. As of September 30, 2021, we also incurred $1.0 million of business combination expenses, which are expensed for purchases deemed to be business combinations.

The following unaudited pro forma financial information presents the results of our operations for the three and nine months ended September 30, 2021 and 2020, as if the properties combined through business combinations in 2021 had been acquired on January 1, 2020. The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees and acquisition accounting.

The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisition been consummated on January 1, 2020 (in thousands, except per-share data):



	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Total revenues	$	685,662	$	401,867	$	1,734,088	$	1,017,988
Net income attributable to Sun Communities, Inc. common stockholders	$	231,580	$	82,122	$	367,838	$	125,905
Net income per share attributable to Sun Communities, Inc. common stockholders - basic	$	2.01	$	0.84	$	3.29	$	1.32
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted	$	1.96	$	0.84	$	3.22	$	1.32

Land for Expansion / Development

During the three months ended September 30, 2021, we acquired three land parcels, which are located in Ft. Collins, Colorado; Ft. Lupton, Colorado; and Leighton, Michigan, approved for the development of over 500 MH sites, for total consideration of $7.7 million.

Refer to Note 18, "Subsequent Events," for information regarding real estate acquisitions completed after September 30, 2021.

Dispositions

On July 2, 2021, we sold two MH communities located in Indiana and Missouri, containing a combined 677 sites, for $67.5 million. The gain from the sale of the property was approximately $49.4 million.

On August 26, 2021, we sold four MH communities located in Arizona, Illinois and Missouri, containing a combined 1,137 sites, for $94.6 million. The gain from the sale of the property was approximately $58.7 million.

2020 Acquisitions and dispositions

For the year ended December 31, 2020, we acquired the following MH communities, RV 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

—

January

Jellystone Natural Bridge

RV: asset acquisition

299

—

February

Forest Springs(2)

MH: asset acquisition

372

—

May

Crown Villa

RV: asset acquisition

123

—

June

Flamingo Lake

RV: asset acquisition

421

—

July

Woodsmoke

RV: asset acquisition

300

—

September

Jellystone Lone Star

RV: asset acquisition

344

—

September

El Capitan & Ocean Mesa(3)(4)

RV: asset acquisition

266

109

September

Highland Green Estates & Troy Villa(5)

MH: asset acquisition

1,162

—

September

Safe Harbor(6)

Marina: business combination

37,305

—

Various

October

Safe Harbor Hideaway Bay(7)

Marina: business combination

628

—

November

Gig Harbor

RV: asset acquisition

115

—

November

Maine MH Portfolio(8)

MH: asset acquisition

1,083

—

November

Safe Harbor Anacapa Isle(7)

Marina: business combination

453

—

December

Mears Annapolis

Marina: asset acquisitions

184

—

December

Wickford

Marina: asset acquisitions

—

December

Rybovich Portfolio(9)

Marina: business combination

—

December

Rockland

Marina: asset acquisitions

173

—

December

Mouse Mountain

MH / RV: asset acquisition

304

—

December

Lakeview Mobile Estates

MH: asset acquisition

296

—

December

Shenandoah Acres

RV: asset acquisition

522

—

December

Jellystone at Barton Lake

RV: asset acquisition

555

—

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 the Safe Harbor acquisition. Transfer of the 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 and retail related items		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(2)	1,643,879		5,700		435,077		(43,875)		2,040,781		1,141,797		829,000		69,984		2,040,781
Hideaway Bay	26,218		23		7,242		(1,077)		32,406		32,406		—		—		32,406
Anacapa Isle	10,924		—		3,146		60		14,130		14,130		—		—		14,130
Rybovich Portfolio(3)	122,064		620		249,840		(37)		372,487		258,123		—		114,364		372,487
Total	$	2,339,368	$	9,942	$	711,308	$	(59,275)	$	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 allocation was preliminary as of December 31, 2020 and was subsequently adjusted based on the final purchase price allocation. We reclassified $17.0 million from "Other assets / (liabilities), net" to "Goodwill, In-place leases and other intangible assets." The reclassifications consist of $11.4 million to goodwill in Q3 2021 and various other asset / liability true-ups of $5.7 million during Q1 and Q2 2021. These adjustments did not have any impact on the Statements of Operations.

(3) Purchase price allocation was preliminary as of December 31, 2020 and was adjusted as of March 31, 2021 based on the final purchase price allocation.

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. The primary reclassifications were $34.5 million of assets moved to Investment property, net and $3.8 million moved to 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

9 Months Ended

Sep. 30, 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):


	September 30, 2021		December 31, 2020
Installment notes receivable on manufactured homes, net	$	81,001	$	85,866
Notes receivable from real estate developers	64,593		52,638
Other receivables, net	111,330		83,146
Total Notes and Other Receivables, net	$	256,924	$	221,650

Installment Notes Receivable on Manufactured Homes

Installment notes receivable are measured at fair value, using indicative pricing models from third party valuation specialists, in accordance with ASC Topic 820 "Fair Value Measurements and Disclosures." The balances of installment notes receivable of $81.0 million (net of fair value adjustment of $0.7 million) and $85.9 million (net of fair value adjustment of $1.3 million) as of September 30, 2021 and December 31, 2020, respectively, are secured by manufactured homes. The notes represent financing to purchasers of manufactured homes 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 7.6 percent and 14.8 years as of September 30, 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):


	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning balance of gross installment notes receivable	$	87,142	$	96,225
Financed sale of manufactured homes	7,232		5,014
Adjustment for notes receivable related to assets held for sale	477		(477)

Principal payments and payoffs from our customers	(8,867)		(8,977)
Principal reduction from repossessed homes	(2,342)		(4,643)
Dispositions of properties	(1,918)		—
Ending balance of gross installment notes receivable	81,724		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	560		(2,274)
Fair value adjustments on gross installment notes receivable	(723)		(1,276)

Ending balance of installment notes receivable, net	$	81,001	$	85,866

Notes Receivable from Real Estate Developers

Notes receivable from real estate developers are measured at fair value, using indicative pricing models from third party valuation specialists, in accordance with ASC Topic 820 "Fair Value Measurements and Disclosures." As of September 30, 2021 and December 31, 2020, the notes receivable balances of $64.6 million and $52.6 million, respectively are primarily comprised of construction loans provided to real estate developers. The notes receivable from real estate developers have a net weighted average interest rate and maturity of 6.3 percent and 1.3 years as of September 30, 2021, and 6.2 percent and 1.8 years as of December 31, 2020, respectively. As of September 30, 2021, real estate developers collectively have $10.3 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 nine months ended September 30, 2021 and 2020. Refer to Note 14, "Fair Value of Financial Instruments," for additional information.

Other Receivables, net

Other receivables, net were comprised of amounts due from (in thousands):


	September 30, 2021		December 31, 2020
Home sale proceeds	$	38,219	$	23,643
Marina customers for storage service and lease payments, net(1)	26,286		19,197
MH and annual RV residents for rent, utility charges, fees and other pass through charges, net(2)	10,723		7,106
Insurance receivables	10,658		13,597
Other receivables(3)	25,444		19,603
Total Other Receivables, net	$	111,330	$	83,146

(1)Net of allowance of $1.6 million and $1.4 million as of September 30, 2021 and December 31, 2020, respectively.

(2)Net of allowance of $5.8 million and $7.2 million as of September 30, 2021 and December 31, 2020, respectively.

(3)Includes receivable from Rezplot Systems LLC, a nonconsolidated affiliate in which we have a 50 percent ownership interest. In June 2020, we made a convertible secured loan to Rezplot Systems LLC. 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 $7.6 million and $2.0 million as of September 30, 2021 and December 31, 2020, respectively. Refer to Note 6, "Investment in Nonconsolidated Affiliates," for additional information on Rezplot Systems LLC.

Intangible Assets

9 Months Ended

Sep. 30, 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 Goodwill and Other intangible assets, net on the Consolidated Balance Sheets.

Goodwill

The change in the carrying amount of goodwill is as follows (in thousands):


	December 31, 2020		Acquisitions		September 30, 2021
Goodwill	$	428,833	$	32,776	$	461,609

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 goodwill balance as of September 30, 2021.

Goodwill impairment - Upon review of the qualitative factors in accordance with ASC 350-20, "Goodwill and Other," we determined that no impairment indicators existed as of September 30, 2021 and December 31, 2020. As a result, there was no impairment of goodwill during the nine months ended September 30, 2021.

Other intangible assets, net

The gross carrying amounts and accumulated amortization of our intangible assets are as follows (in thousands):


		September 30, 2021				December 31, 2020
Other Intangible Asset	Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization

In-place leases	Expected term	$	160,862	$	(114,757)	$	145,531	$	(92,327)
Non-competition agreements	5 years	10,000		(1,500)		10,000		—
Trademarks and trade names	Various(1)	116,690		(625)		116,500		—
Customer relationships	7 - 15 years	107,978		(9,401)		108,000		(2,371)
Franchise agreements and other intangible assets	5.5 - 20 years	33,520		(5,142)		23,856		(3,578)
Total		$	429,050	$	(131,425)	$	403,887	$	(98,276)

(1)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.

Amortization expenses related to the Other intangible assets are as follows (in thousands):


	Three Months Ended				Nine Months Ended
Other Intangible Asset Amortization Expense	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
In-place leases	$	5,664	$	3,727	$	22,457	$	10,758
Non-competition agreements	500		—		1,500		—
Trademarks and trade names	208		—		625		—
Customer relationships	2,709		—		7,029		—
Franchise fees and other intangible assets	678		205		1,660		614
Total	$	9,759	$	3,932	$	33,271	$	11,372

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	$	5,519	$	13,215	$	9,491	$	6,619	$	5,778
Non-competition agreements	500		2,000		2,000		2,000		2,000
Trademarks and trade names	208		833		833		—		—
Customer relationships	2,710		10,838		10,838		10,838		10,838
Franchise agreements and other intangible assets	626		2,502		2,473		2,410		2,389
Total	$	9,563	$	29,388	$	25,635	$	21,867	$	21,005

Investment In Affiliates

9 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investment In Affiliates

Investment 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 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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):


	Nine Months Ended		Year Ended
Investment	September 30, 2021		December 31, 2020
Investment in RezPlot	$	1,302	$	3,047
Investment in Sungenia JV	33,278		26,890
Investment in GTSC	34,767		25,495
Investment in OFS	321		152
Investment in SV Lift	2,978		3,490
Total	$	72,646	$	59,074

The income / (loss) from each nonconsolidated affiliate is as follows (in thousands):


	Three Months Ended				Nine Months Ended
Income / (Loss) from Nonconsolidated Affiliates	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
RezPlot equity income / (loss)	$	(789)	$	5	$	(1,745)	$	(1,150)
Sungenia JV equity income	432		51		1,241		198
GTSC equity income	1,653		1,263		4,250		2,723
OFS equity income	43		54		169		134
SV Lift equity loss	(377)		(169)		(988)		(557)
Total Income from Nonconsolidated Affiliates	$	962	$	1,204	$	2,927	$	1,348

The change in the GTSC investment balance is as follows (in thousands):


	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning balance	$	25,495	$	18,488

Initial fair value option adjustment	—		317
Contributions	20,117		19,030
Distributions	(14,965)		(14,676)
Equity earnings	4,250		3,944
Fair value adjustment	(130)		(1,608)
Ending Balance	$	34,767	$	25,495

The change in the Sungenia JV investment balance is as follows (in thousands):


	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning balance	$	26,890	$	11,995
Cumulative translation adjustment	(1,658)		2,180
Contributions	6,805		12,377

Equity earnings	1,241		338

Ending Balance	$	33,278	$	26,890

Consolidated Variable Interest Entities

9 Months Ended

Sep. 30, 2021

DisclosureofVariableInterestEntities [Abstract]

Consolidated Variable Interest Entities

The Operating Partnership

We consolidate the Operating Partnership under the guidance set forth in ASC 810 "Consolidation." We evaluated whether the Operating Partnership met the criteria for classification as variable interest entity ("VIE") or, alternatively, voting interest entity 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; Sun Solar Energy Project LLC (the "Sun Solar JV")

We consolidate Sun NG Resorts, Rudgate, Sun NG Whitewater RV Resorts LLC, FPG Sun Menifee 80 LLC, SHM South Fork JV, LLC, and Sun Solar JV under the guidance set forth in 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 Line 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, SHM South Fork JV, LLC, and Sun Solar JV.

The following table summarizes the assets and liabilities of Sun NG Resorts, Rudgate, Sun NG Whitewater RV Resorts LLC, FPG Sun Menifee 80 LLC, SHM South Fork JV, LLC, and Sun Solar JV included in our Consolidated Balance Sheets after eliminations (in thousands):


	September 30, 2021		December 31, 2020
Assets
Investment property, net	$	567,026	$	453,236
Other assets, net	28,670		25,072
Total Assets	$	595,696	$	478,308

Liabilities and Other Equity
Secured debt	$	49,054	$	47,706
Unsecured debt	35,249		35,249
Other liabilities	22,908		22,221
Total Liabilities	107,211		105,176
Temporary equity	37,064		32,719
Noncontrolling interests	18,527		16,084
Total Liabilities and Other Equity	$	162,802	$	153,979

Investment property, net and Other assets, net related to the consolidated VIEs, with the exception of the Operating Partnership, comprised approximately 4.7 percent and 4.3 percent of our consolidated total assets at September 30, 2021 and December 31, 2020, respectively. Secured debt, Unsecured debt and Other liabilities comprised 2.0 percent of our consolidated total liabilities at September 30, 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 September 30, 2021 and December 31, 2020, respectively.

Debt And Lines Of Credit

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt and Line 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 Years to Maturity		Weighted Average Interest Rates
	September 30, 2021		December 31, 2020		September 30, 2021	December 31, 2020	September 30, 2021		December 31, 2020








Secured Debt	$	3,403,436	$	3,489,983	10.8	11.4	3.780	%	3.751	%

Unsecured Debt
Senior unsecured notes	591,252		—		9.8	0.0	2.700	%	—	%

Line of credit and other debt	624,837		1,197,181		3.7	3.7	0.976	%	2.107	%
Preferred equity - Sun NG Resorts - mandatorily redeemable	35,249		35,249		3.0	3.8	6.000	%	6.000	%
Preferred OP units - mandatorily redeemable	34,663		34,663		4.4	5.1	5.932	%	5.932	%
Total Unsecured Debt	1,286,001		1,267,093
Total Debt	$	4,689,437	$	4,757,076	9.6	9.4	3.303	%	3.370	%

Secured Debt

Secured debt consists primarily of mortgage term loans.

During the nine months ended September 30, 2021, no mortgage term loans were paid off. During the year ended December 31, 2020, we paid off the following mortgage 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 July 11, 2021 December 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 mortgage 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 mortgage term loans due to mature on July 1, 2020.

(3)The interest rate represents the weighted average interest rate on mortgage term loans.

During the nine months ended September 30, 2021, we did not enter into any new mortgage term loans. During the year ended December 31, 2020, we entered into the following mortgage term loans (in thousands except statistical information):


Three Months Ended	Loan Amount			Term (in years)	Interest Rate			Maturity Date
December 31, 2020	$	268,800	(1)	12	2.662	%	(2)	May 1, 2030 November 1, 2032
March 31, 2020	$	230,000		15	2.995	%		April 1, 2035

(1)Includes three mortgage 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 mortgage term loans.

The mortgage term loans totaling $3.4 billion as of September 30, 2021, are secured by 192 properties comprised of 76,436 sites representing approximately $3.2 billion of net book value.

Unsecured Debt

Senior Unsecured Notes

On June 28, 2021, we issued $600.0 million of senior unsecured notes with an interest rate of 2.7 percent and a ten-year term, due July 15, 2031 (the "2031 Notes"). Interest on the senior unsecured notes is payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2022. The net proceeds from the offering were approximately $592.4 million, after deducting underwriters' discounts and estimated offering expenses. The proceeds were used to pay down borrowings under our line of credit. The outstanding balance was $591.3 million at September 30, 2021. This balance is recorded in the Unsecured debt line item on the Consolidated Balance Sheets.

Line of Credit

On June 14, 2021, we entered into a new credit agreement (the "New Credit Agreement") with certain lenders. The New Credit Agreement combined and replaced our prior $750.0 million credit facility, which was scheduled to mature on May 21, 2023, (the "A&R Facility"), and the $1.8 billion credit facility between Safe Harbor and certain lenders, which was scheduled to mature on October 11, 2024 (the "Safe Harbor Facility"). The Safe Harbor Facility was terminated in connection with the execution of the New Credit Agreement. We repaid all amounts due and outstanding under the Safe Harbor Facility on or prior to such effective date. We recognized a Loss on extinguishment of debt in our Consolidated Statement of Operations related to the termination of the A&R Facility and the Safe Harbor Facility of $0.2 million and $7.9 million, respectively.

Pursuant to the New Credit Agreement, we may borrow up to $2.0 billion under a revolving loan (the "New Credit Facility"). The New Credit Facility is available to fund all of the Company's business, including its marina business conducted by Safe Harbor. The New Credit Agreement also permits, subject to the satisfaction of certain conditions, additional borrowings (with the consent of the lenders) in an amount not to exceed $1.0 billion with the option to treat all, or a portion, of such additional funds as an incremental term loan.

The New Credit Facility has a four-year term ending June 14, 2025, and, at our option, the maturity date may be extended for two additional six-month periods, subject to the satisfaction of certain conditions. However, the maturity date with respect to $500.0 million of available borrowing under the New Credit Facility is October 11, 2024, which, under the terms of the New Credit Agreement, may not be extended. The New Credit Facility bears interest at a floating rate based on the Adjusted Eurocurrency Rate or Australian Bank Bill Swap Bid Rate (BBSY), plus a margin that is determined based on the Company's credit ratings calculated in accordance with the New Credit Agreement, which can range from 0.725 percent to 1.400 percent. As of September 30, 2021, the margin based on our credit ratings was 0.850 percent on the New Credit Facility.

At the lenders' option, the New Credit Facility will become immediately due and payable upon an event of default under the New Credit Agreement. We had $589.5 million of borrowings on the New Credit Facility as of September 30, 2021, all scheduled to mature June 14, 2025. As of December 31, 2020, we had $40.4 million of borrowings on the revolving loan and no borrowings on the term loan under our A&R Facility, respectively. As of December 31, 2020, we had $652.0 million and $500.0 million of borrowings under the revolving loan and term loan under Safe Harbor Facility, respectively. These balances are recorded in the Unsecured debt line item on the Consolidated Balance Sheets.

The New Credit Facility provides us with the ability to issue letters of credit. Our issuance of letters of credit does not increase our borrowings outstanding under the New Credit Facility, but does reduce the borrowing amount available. At September 30, 2021 and December 31, 2020, we had approximately $3.2 million and $2.4 million (including none and $0.3 million associated with Safe Harbor's prior credit facility) of outstanding letters of credit, respectively.

Unsecured Term Loan

In October 2019, we assumed a term loan facility, 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. Effective July 1, 2021, the agreement was amended to release the associated collateral. The amendment extended the term loan facility maturity date to October 29, 2025 and adjusted the interest rate margin to a range from 0.80 percent to 1.60 percent. As of September 30, 2021, the margin was 0.95 percent. The outstanding balance was $35.3 million at September 30, 2021 and $45.0 million at December 31, 2020. These balances are recorded in the Unsecured debt and Secured debt line items on the Consolidated Balance Sheets, respectively.

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 September 30, 2021, the effective interest rate was 7.0 percent. There was no outstanding balance as of September 30, 2021. The outstanding balance was $4.8 million as of December 31, 2020. These balances are recorded within the Unsecured debt line item on the Consolidated Balance Sheets.

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 September 30, 2021 was $35.2 million. These balances are recorded within the Unsecured debt line item on the Consolidated Balance Sheets. 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 September 30, 2021 and December 31, 2020 include $34.7 million of Aspen preferred OP units issued by the Operating Partnership. As of September 30, 2021, these units are convertible indirectly into 388,056 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 September 30, 2021, 270,000 of the Extended Units and 1,013,819 other Aspen preferred units were outstanding. These balances are recorded within the Unsecured debt line item on the Consolidated Balance Sheets.

Covenants

The mortgage term loans, senior unsecured notes, New Credit Facility and floor plan are subject to various financial and other covenants. The most restrictive covenants are pursuant to (a) the terms of the New Credit Facility, which contains a minimum fixed charge coverage ratio, maximum leverage, distribution ratios and variable rate indebtedness and (b) senior unsecured notes, which contain a total debt to total assets, secured debt to total assets, consolidated income available for debt service to debt service and unencumbered total asset value to unsecured debt covenants. At September 30, 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, and 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 and May 2021, the maximum amount was increased to $180.0 million and $230.0 million, respectively with an option to increase to $255.0 million subject to the lender's consent. As of September 30, 2021, the aggregate carrying amount of debt, including both our and our partner's share, incurred by GTSC was $218.4 million (of which our proportionate share is $87.3 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 $19.5 million converted at the September 30, 2021 exchange rate. As of September 30, 2021, the aggregate carrying amount of debt, including both our and our partners' share, incurred by Sungenia JV was $6.2 million (of which our proportionate share is $3.1 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 the BBSY rate plus 2.05 percent per annum and is available for a minimum of three years.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Equity and Temporary Equity

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Equity and Temporary Equity

Permanent Equity

Universal Shelf Registration Statement

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. The new universal shelf registration statement was deemed automatically effective and provides for the registration of unspecified amounts of equity and debt securities. We have the authority to issue 200,000,000 shares of capital stock, of which 180,000,000 shares are common stock, par value $0.01 per share, and 20,000,000 are shares of preferred stock, par value $0.01 per share. As of September 30, 2021, we had 115,959,116 shares of common stock issued and outstanding and no shares of preferred stock were issued and outstanding.

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. We sold the 4,000,000 shares on March 9, 2021 and received net proceeds of $537.6 million after deducting expenses related to the offering. In May and June 2021, we completed the physical settlement of the remaining 4,050,000 shares and received net proceeds of $539.7 million after deducting expenses related to the offering. Proceeds from the offering were used to acquire assets and pay down the Safe Harbor Facility.

On September 30, 2020 and October 1, 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 Agreements

On June 4, 2021, we entered into an At the Market Offering Sales Agreement (the "Sales Agreement") with certain sales agents, and forward sellers pursuant to which we may sell, from time to time, up to an aggregate gross sales price of $500.0 million of our common stock, through the sales agents, acting as our sales agents or, if applicable, as forward sellers, or directly to the sales agents as principals for their own accounts. The sales agents and forward sellers 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. We forward sold 107,400 shares of common stock under the new Sales Agreement for $21.4 million during the three and nine months ended September 30, 2021. The forward shares are not physically settled as of September 30, 2021. The forward shares will expire if not settled by September 2022.

Upon entering into the Sales Agreement, we simultaneously terminated our previous At the Market Offering Sales Agreement entered into in July 2017. There were no issuances of common stock under the prior sales agreement during the six months ended June 30, 2021 or during the year ended December 31, 2020. From inception through termination of the prior sales agreement, we sold shares of our common stock for gross proceeds of $163.8 million.

Issuances of Common Stock, Common OP Units and Preferred OP Units in Connection with the Acquisition of Certain Properties

Rybovich Portfolio Common OP Units - In December 2020, in connection with the acquisition of the Rybovich Portfolio, we issued 130,475 Common OP units.

Safe Harbor Common OP Units - In October 2020, in connection with the acquisition of Safe Harbor, we issued 55,403 Common OP units.

Forest Springs Common OP Units - In May 2020, in connection with the acquisition of the Forest Springs community, we issued 82,420 Common OP units.

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 with 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 September 30, 2021, 90,000 Series E preferred OP Units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information.

Equity Interests

Equity Interest - 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 September 30, 2021 and the year ended December 31, 2020, respectively. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information.

Temporary Equity

Issuance of Preferred OP Units in Connection with the Acquisition of Certain Properties

Issuance of Series J Preferred OP Units - In April 2021, we issued 240,000 Series J preferred OP units in connection with the acquisition of the Sylvan Glen. The Series J preferred OP units have a stated issuance price of $100.00 per OP unit and carry a preferred return of 2.85 percent. Subject to certain limitations, at any time after the Series J issuance date, each Series J 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 $165.00 (as such ratio is subject to adjustments for certain capital events) at the holder's option. Each 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 Series J issuance date. As of September 30, 2021, 240,000 Series J preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," for additional information.

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 September 30, 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 September 30, 2021, 581,407 Series H preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," 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 September 30, 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 September 30, 2021, 90,000 Series F preferred OP units were outstanding. Refer to Note 3, "Real Estate Acquisitions and Dispositions," 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 September 30, 2021, 488,958 Series D preferred OP units were outstanding.

Equity Interests

Equity Interest - Sun Solar JV - In July 2021, we entered into a joint venture with an unrelated third party to operate and maintain solar energy equipment in selected California communities. The unrelated third party made an equity contribution of $1.8 million in the Solar JV (referred to as "Equity Interest - Sun Solar JV"). We are the managing member and made an equity contribution of $5.8 million. The governing documents for the joint venture contain language regarding the economic treatment of each member’s equity contribution. The Equity Interest - Sun Solar JV balance was $1.6 million at September 30, 2021. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information.

Equity Interest - FPG Sun Menifee 80 LLC - In October 2020, in connection with the 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 Interest - FPG Sun Menifee 80 LLC"). The Equity Interest - FPG Sun Menifee 80 LLC does 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 Interest - FPG Sun Menifee 80 LLC balance was $0.1 million at September 30, 2021 and year ended December 31, 2020. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information.

Equity Interest - 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 Interest - NG Sun Whitewater LLC"). The Equity Interest - 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 Interest - NG Sun Whitewater LLC from NG Sun Whitewater LLC. The Equity Interest - NG Sun Whitewater LLC balance was $5.0 million and $5.1 million at September 30, 2021 and year ended December 31, 2020, respectively. Refer to Note 7, "Consolidated Variable Interest Entities," for additional information.

Equity Interest - 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 Interest - 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. The Equity Interest - NG Sun LLC balance was $26.3 million and $23.3 million at September 30, 2021 and year ended December 31, 2020, respectively. Refer to Note 7, "Consolidated Variable Interest Entities," and Note 8, "Debt and Line 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 nine months ended September 30, 2021 and 2020:


		Nine Months Ended		Nine Months Ended
		September 30, 2021		September 30, 2020
Series	Conversion Rate	Units / Shares Converted	Common Stock(1)	Units / Shares Converted	Common Stock(1)
Common OP unit	1.0000	78,724	78,724	29,886	29,886
Series A-1 preferred OP unit	2.4390	19,296	47,058	10,614	25,884


Series C preferred OP unit	1.1100	—	—	1,485	1,648

(1)Calculation may yield minor differences due to rounding incorporated in the above numbers.

Distributions

Distributions declared for the three months ended September 30, 2021 were as follows:

Distributions

Record Date

Payment Date

Distribution Per Share

Total Distribution (in Thousands)

Common Stock, Common OP units and Restricted Stock

9/30/2021

10/15/2021

0.83

98,344

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Share-Based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Share-Based Compensation

As of September 30, 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 nine months ended September 30, 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)	$	94.32	(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)	$	87.49	(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	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 62.1 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 57.6 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 288,024 and 256,380 restricted shares granted to our executives, directors and employees were satisfied during the nine months ended September 30, 2021 and 2020, respectively.

Stock Options

During the nine months ended September 30, 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 September 30, 2021. During the nine months ended September 30, 2020, no stock options were exercised.

Segment Reporting

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

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. As described in Note 1, "Basis of Presentation," 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 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 marina 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
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas	Consolidated
Operating revenues	$	275,597	$	233,844	$	163,322	$	672,763	$	229,369	$	162,640	N/A	$	392,009
Property operating expenses	118,441		109,219		98,859		326,519		95,350		78,381		N/A	173,731
Net Operating Income	$	157,156	$	124,625	$	64,463	$	346,244	$	134,019	$	84,259	N/A	$	218,278
Adjustments to arrive at net income
Interest income							2,690							2,624
Brokerage commissions and other revenues, net							8,841							5,881

General and administrative expense							(43,276)							(26,834)
Catastrophic event-related charges, net							(328)							(14)

Depreciation and amortization							(127,091)							(88,499)


Interest expense							(39,026)							(30,214)
Interest on mandatorily redeemable preferred OP units / equity							(1,047)							(1,047)
Gain on remeasurement of marketable securities							12,072							1,492
Gain / (loss) on foreign currency translation							(7,028)							5,023
Gain on dispositions of properties							108,104							5,595
Other expense, net							(9,372)							(3,511)
Gain / (loss) on remeasurement of notes receivable							92							(445)
Income from nonconsolidated affiliates (see Note 6)							962							1,204
Loss on remeasurement of investment in nonconsolidated affiliates							(119)							(446)
Current tax benefit / (expense) (see Note 12)							(402)							107
Deferred tax benefit / (expense) (see Note 12)							(1,155)							562
Net Income							250,161							89,756
Less: Preferred return to preferred OP units / equity interests							3,101							1,645
Less: Income attributable to noncontrolling interests							15,290							6,907



Net Income Attributable to Sun Communities, Inc. Common Stockholders							$	231,770						$	81,204

(1) Recast to reflect segment changes.


	Nine Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas	Consolidated
Revenues	$	793,286	$	492,464	$	414,642	$	1,700,392	$	668,390	$	325,015	N/A	$	993,405
Operating expenses / Cost of sales	326,758		247,284		255,970		830,012		263,852		165,430		N/A	429,282
Net Operating Income / Gross Profit	$	466,528	$	245,180	$	158,672	$	870,380	$	404,538	$	159,585	N/A	$	564,123
Adjustments to arrive at net income
Interest income							8,040							7,609
Brokerage commissions and other revenues, net							21,740							13,068

General and administrative expense							(126,606)							(78,710)
Catastrophic event-related charges, net							(3,097)							(54)
Business combination expense, net							(1,031)							—
Depreciation and amortization							(378,068)							(259,453)

Loss on extinguishment of debt (see Note 8)							(8,108)							(5,209)
Interest expense							(116,224)							(94,058)
Interest on mandatorily redeemable preferred OP units / equity							(3,124)							(3,130)
Gain / (loss) on remeasurement of marketable securities							43,227							(2,636)
Loss on foreign currency translation							(7,107)							(2,496)
Gain on dispositions of properties							108,104							5,595
Other expense, net							(10,041)							(4,890)
Gain / (loss) on remeasurement of notes receivable							561							(2,311)
Income from nonconsolidated affiliates (see Note 6)							2,927							1,348
Loss on remeasurement of investment in nonconsolidated affiliates							(130)							(1,505)
Current tax expense (see Note 12)							(1,418)							(462)
Deferred tax benefit / (expense) (see Note 12)							(1,074)							804
Net Income							398,951							137,633
Less: Preferred return to preferred OP units / equity interests							9,000							4,799
Less: Income attributable to noncontrolling interests							22,629							8,806



Net Income Attributable to Sun Communities, Inc. Common Stockholders							$	367,322						$	124,028

(1) Recast to reflect segment changes.


	September 30, 2021								December 31, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas		Consolidated
Identifiable Assets
Investment property, net	$	4,983,329	$	3,373,068	$	2,520,039	$	10,876,436	$	4,823,174	$	3,038,686	$	1,853,931	$	9,715,791
Cash, cash equivalents and restricted cash	38,538		20,968		26,113		85,619		53,152		28,919		10,570		92,641
Marketable securities	103,829		56,492		—		160,321		80,776		43,950		—		124,726
Inventory of manufactured homes	36,526		7,182		—		43,708		33,448		13,195		—		46,643
Notes and other receivables, net	160,593		58,750		37,581		256,924		144,027		44,002		33,621		221,650
Goodwill	—		—		461,609		461,609		—		—		428,833		428,833
Other intangible assets, net	30,247		23,854		243,524		297,625		33,998		23,819		247,794		305,611
Other assets, net	178,491		40,882		181,681		401,054		184,917		38,075		47,699		270,691
Total Assets	$	5,531,553	$	3,581,196	$	3,470,547	$	12,583,296	$	5,353,492	$	3,230,646	$	2,622,448	$	11,206,586

(1) Recast to reflect segment changes

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

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, Series J 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				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Numerator
Net Income Attributable to Sun Communities, Inc. Common Stockholders	$	231,770	$	81,204	$	367,322	$	124,028
Less: allocation to restricted stock awards	1,508		536		2,352		821
Basic earnings - Net Income attributable to common stockholders after allocation to restricted stock awards	$	230,262	$	80,668	$	364,970	$	123,207

Add: allocation to common and preferred OP units dilutive effect	5,641		—		8,269		—
Diluted earnings - Net Income attributable to common stockholders after allocation to common and preferred OP units(1)	$	235,903	$	80,668	$	373,239	$	123,207


Denominator
Weighted average common shares outstanding	115,136		97,542		111,717		95,270
Add: common shares dilutive effect: Forward Equity Offering	—		6		—		2
Add: dilutive stock options	—		1		—		1

Add: common and preferred OP units dilutive effect	2,936		—		2,574		—
Diluted weighted average common shares and securities(1)	118,072		97,549		114,291		95,273
Earnings Per Share Available to Common Stockholders After Allocation
Basic earnings per share	$	2.00	$	0.83	$	3.27	$	1.29
Diluted earnings per share(1)	$	2.00	$	0.83	$	3.27	$	1.29

(1) For the three and nine months ended September 30, 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 September 30, 2021 and 2020 (in thousands):


	Nine Months Ended
	September 30, 2021		September 30, 2020
Common OP units	—		2,473
A-1 preferred OP units	275		299
A-3 preferred OP units	40		40

Aspen preferred OP units	1,284	(1)	1,284

Series C preferred OP units	306		309
Series D preferred OP units	489		489
Series E preferred OP units	90		90
Series F preferred OP units	90		90
Series G preferred OP units	241		261
Series H preferred OP units	581		—
Series I preferred OP units	922		—
Series J preferred OP units	240		—
Total Securities	4,558		5,335

(1) For the three months ended September 30, 2021, Aspen preferred OP units were included in the computation of diluted earnings per share because the inclusion of those securities was dilutive for the period.

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 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 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 September 30, 2021. The table presents the carrying values and fair values of our financial instruments as of September 30, 2021 and December 31, 2020, that were measured using the valuation techniques described above. The table excludes other financial instruments such as 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. These are classified as Level 1 in the hierarchy.



	September 30, 2021
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	85,619	$	85,619	$	—	$	—	$	85,619
Marketable securities	160,321		160,321		—		—		160,321
Installment notes receivable on manufactured homes, net	81,001		—		—		81,001		81,001

Notes receivable from real estate developers	64,593		—		—		64,593		64,593
Total assets measured at fair value	$	391,534	$	245,940	$	—	$	145,594	$	391,534

Financial Liabilities
Secured debt	$	3,403,436	$	—	$	3,403,436	$	—	$	3,434,376


Unsecured debt
Senior unsecured notes	591,252		—		591,252		—		606,352

Line of credit and other unsecured debt	694,749		—		694,749		—		694,749
Total unsecured debt	1,286,001		—		1,286,001		—		1,301,101
Other financial liabilities (contingent consideration)	38,970		—		—		38,970		38,970
Total liabilities measured at fair value	$	4,728,407	$	—	$	4,689,437	$	38,970	$	4,774,447



	December 31, 2020
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	92,641	$	92,641	$	—	$	—	$	92,641
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	$	355,871	$	217,367	$	138,504	$	—	$	355,871

Financial Liabilities
Secured debt	$	3,489,983	$	—	$	3,489,983	$	—	$	3,588,901




Unsecured debt
Line of credit and other unsecured debt	1,267,093		—		1,267,093		—		1,267,093
Total unsecured debt	1,267,093		—		1,267,093		—		1,267,093
Other financial 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:

Cash, Cash Equivalents and Restricted Cash

The carrying values of cash, cash equivalents and restricted cash approximate their fair market values due to the short-term nature of the instrument. These are classified as Level 1 in the hierarchy.

Marketable Securities

Marketable securities held by us and accounted for under ASC 321 "Investments - 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):



	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning Balance	$	124,725	$	94,727
Additional purchases	—		11,757
Change in fair value measurement	43,202		6,132
Foreign currency translation adjustment	(10,052)		10,138
Dividend reinvestment, net of tax	2,446		1,971

Ending Balance	$	160,321	$	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 model-derived indicative pricing 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.

Secured Debt

Secured debt consists primarily of our mortgage term loans. The fair value of mortgage term loans 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 Line of Credit," for additional information.

Unsecured Debt

Senior unsecured notes - the fair value of senior unsecured notes 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 Line of Credit," for additional information.

Line of credit and other unsecured debt - consists primarily of our New Credit Facility. We have variable rates on our New 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 September 30, 2021 approximated its gross carrying value.

Other 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).

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 nine months ended September 30, 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 and nine months ended September 30, 2021 (in thousands):


	Three Months Ended
	September 30, 2021
	Installment Notes Receivable on MH, net		Notes Receivable From Real Estate Developers		Other Liabilities (Contingent Consideration)
Level 3 beginning balance at June 30, 2021	$	82,506	$	61,955	$	18,101
Transfer to level 3	—		—		—
Transfer out of level 3	—		—		—
Net gain / loss	91		—		9,196
Purchases and issuances	3,299		3,383		11,893
Sales and settlements	(3,405)		(542)		—
Dispositions of properties	(1,918)		—		—
Other adjustments	428		(203)		(220)
Level 3 ending balance at September 30, 2021	$	81,001	$	64,593	$	38,970


	Nine Months Ended
	September 30, 2021
	Installment Notes Receivable on MH, 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 gain / loss	560		—		9,339
Purchases and issuances	7,232		14,523		15,332
Sales and settlements	(11,209)		(1,135)		—
Dispositions of properties	(1,918)		—		—
Other adjustments	470		(1,433)		(1,543)
Level 3 ending balance at September 30, 2021	$	81,001	$	64,593	$	38,970

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 September 30, 2021. As such, our estimates of fair value could differ significantly from the actual carrying value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Sep. 30, 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

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

Lessee Accounting

We lease land under non-cancelable operating leases at certain MH, RV and marina properties expiring at various dates through 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.

Future minimum lease payments under non-cancellable leases as of the nine months ended September 30, 2021 where we are the lessee include:



Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2021 (Excluding nine months ended September 30, 2021)	$	2,381	$	126	$	2,507
2022	9,057		223		9,280
2023	9,003		198		9,201
2024	9,347		4,070		13,417
2025	9,320		—		9,320
Thereafter	179,497		—		179,497
Total Lease Payments	$	218,605	$	4,617	$	223,222
Less: Imputed interest	(101,530)		(284)		(101,814)
Present Value of Lease Liabilities	$	117,075	$	4,333	$	121,408

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 September 30, 2021		As of December 31, 2020
Lease Assets
ROU asset obtained in exchange for new finance lease liabilities	Investment property, net	$	4,452	$	4,350
ROU asset obtained in exchange for new operating lease liabilities	Other assets, net	$	126,756	$	48,419
ROU asset obtained relative to below market operating lease	Other assets, net	$	72,249	$	27,614
Lease Liabilities
Finance lease liabilities	Other liabilities	$	4,333	$	4,334
Operating lease liabilities	Other liabilities	$	117,075	$	49,964

Lease expense for finance and operating leases, and short term lease cost as included in our Consolidated Statements of Operations are as follows (in thousands):


		Three Months Ended				Nine Months Ended
Description	Financial Statement Classification	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Finance Lease Expense

Interest on lease liabilities	Interest expense	$	27	$	26	$	79	$	77
Operating lease cost	General and administrative expense, Property operating and maintenance	2,771		973		7,223		2,925
Variable lease cost	Property operating and maintenance	1,886		431		5,004		1,220
Short term lease cost	Property operating and maintenance	57		—		195		—
Total Lease Expense		$	4,741	$	1,430	$	12,501	$	4,222

Lease term, discount rates and additional information for finance and operating leases are as follows:


	As of
Lease Term and Discount Rate	September 30, 2021
Weighted-average Remaining Lease Terms (years)
Finance lease	2.72
Operating lease	34.54
Weighted-average Discount Rate
Finance lease	2.45	%
Operating lease	3.84	%


	Nine Months Ended
Other Information (in thousands)	September 30, 2021		September 30, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flow from operating leases	$	4,512	$	1,836

Financing cash flow from finance leases	125		23
Total Cash Paid On Lease Liabilities	$	4,637	$	1,859

Lessor Accounting

We are not the lessor for any finance leases at our MH, RV or marina properties as of September 30, 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 September 30, 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 nine months ended September 30, 2021 where we are the lessor include:


Maturity of Lease Payments (in thousands)	Operating Leases
2021 (Excluding nine months ended September 30, 2021)	$	5,099
2022	16,949
2023	14,141
2024	8,844
2025	4,976
Thereafter	5,804
Total Undiscounted Cash Flows	$	55,813

The components of lease income were as follows (in thousands):


	Three Months Ended				Nine Months Ended
Description	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Operating Leases

Fixed lease income	$	5,293	$	312	$	14,346	$	934
Variable lease income(1)	$	1,284	$	399	$	3,554	$	1,195

(1)Consists of rent primarily based on a percentage of revenues at the related properties.

Leases

Lessee Accounting

Future minimum lease payments under non-cancellable leases as of the nine months ended September 30, 2021 where we are the lessee include:



Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2021 (Excluding nine months ended September 30, 2021)	$	2,381	$	126	$	2,507
2022	9,057		223		9,280
2023	9,003		198		9,201
2024	9,347		4,070		13,417
2025	9,320		—		9,320
Thereafter	179,497		—		179,497
Total Lease Payments	$	218,605	$	4,617	$	223,222
Less: Imputed interest	(101,530)		(284)		(101,814)
Present Value of Lease Liabilities	$	117,075	$	4,333	$	121,408

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 September 30, 2021		As of December 31, 2020
Lease Assets
ROU asset obtained in exchange for new finance lease liabilities	Investment property, net	$	4,452	$	4,350
ROU asset obtained in exchange for new operating lease liabilities	Other assets, net	$	126,756	$	48,419
ROU asset obtained relative to below market operating lease	Other assets, net	$	72,249	$	27,614
Lease Liabilities
Finance lease liabilities	Other liabilities	$	4,333	$	4,334
Operating lease liabilities	Other liabilities	$	117,075	$	49,964

Lease expense for finance and operating leases, and short term lease cost as included in our Consolidated Statements of Operations are as follows (in thousands):


		Three Months Ended				Nine Months Ended
Description	Financial Statement Classification	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Finance Lease Expense

Interest on lease liabilities	Interest expense	$	27	$	26	$	79	$	77
Operating lease cost	General and administrative expense, Property operating and maintenance	2,771		973		7,223		2,925
Variable lease cost	Property operating and maintenance	1,886		431		5,004		1,220
Short term lease cost	Property operating and maintenance	57		—		195		—
Total Lease Expense		$	4,741	$	1,430	$	12,501	$	4,222

Lease term, discount rates and additional information for finance and operating leases are as follows:


	As of
Lease Term and Discount Rate	September 30, 2021
Weighted-average Remaining Lease Terms (years)
Finance lease	2.72
Operating lease	34.54
Weighted-average Discount Rate
Finance lease	2.45	%
Operating lease	3.84	%


	Nine Months Ended
Other Information (in thousands)	September 30, 2021		September 30, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flow from operating leases	$	4,512	$	1,836

Financing cash flow from finance leases	125		23
Total Cash Paid On Lease Liabilities	$	4,637	$	1,859

Lessor Accounting

We are not the lessor for any finance leases at our MH, RV or marina properties as of September 30, 2021.

Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the nine months ended September 30, 2021 where we are the lessor include:


Maturity of Lease Payments (in thousands)	Operating Leases
2021 (Excluding nine months ended September 30, 2021)	$	5,099
2022	16,949
2023	14,141
2024	8,844
2025	4,976
Thereafter	5,804
Total Undiscounted Cash Flows	$	55,813

The components of lease income were as follows (in thousands):


	Three Months Ended				Nine Months Ended
Description	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Operating Leases

Fixed lease income	$	5,293	$	312	$	14,346	$	934
Variable lease income(1)	$	1,284	$	399	$	3,554	$	1,195

(1)Consists of rent primarily based on a percentage of revenues at the related properties

Leases

Future minimum lease payments under non-cancellable leases as of the nine months ended September 30, 2021 where we are the lessee include:



Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2021 (Excluding nine months ended September 30, 2021)	$	2,381	$	126	$	2,507
2022	9,057		223		9,280
2023	9,003		198		9,201
2024	9,347		4,070		13,417
2025	9,320		—		9,320
Thereafter	179,497		—		179,497
Total Lease Payments	$	218,605	$	4,617	$	223,222
Less: Imputed interest	(101,530)		(284)		(101,814)
Present Value of Lease Liabilities	$	117,075	$	4,333	$	121,408

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 September 30, 2021		As of December 31, 2020
Lease Assets
ROU asset obtained in exchange for new finance lease liabilities	Investment property, net	$	4,452	$	4,350
ROU asset obtained in exchange for new operating lease liabilities	Other assets, net	$	126,756	$	48,419
ROU asset obtained relative to below market operating lease	Other assets, net	$	72,249	$	27,614
Lease Liabilities
Finance lease liabilities	Other liabilities	$	4,333	$	4,334
Operating lease liabilities	Other liabilities	$	117,075	$	49,964

Lease expense for finance and operating leases, and short term lease cost as included in our Consolidated Statements of Operations are as follows (in thousands):


		Three Months Ended				Nine Months Ended
Description	Financial Statement Classification	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Finance Lease Expense

Interest on lease liabilities	Interest expense	$	27	$	26	$	79	$	77
Operating lease cost	General and administrative expense, Property operating and maintenance	2,771		973		7,223		2,925
Variable lease cost	Property operating and maintenance	1,886		431		5,004		1,220
Short term lease cost	Property operating and maintenance	57		—		195		—
Total Lease Expense		$	4,741	$	1,430	$	12,501	$	4,222

Lease term, discount rates and additional information for finance and operating leases are as follows:


	As of
Lease Term and Discount Rate	September 30, 2021
Weighted-average Remaining Lease Terms (years)
Finance lease	2.72
Operating lease	34.54
Weighted-average Discount Rate
Finance lease	2.45	%
Operating lease	3.84	%


	Nine Months Ended
Other Information (in thousands)	September 30, 2021		September 30, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flow from operating leases	$	4,512	$	1,836

Financing cash flow from finance leases	125		23
Total Cash Paid On Lease Liabilities	$	4,637	$	1,859

Lessor Accounting

We are not the lessor for any finance leases at our MH, RV or marina properties as of September 30, 2021.

Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the nine months ended September 30, 2021 where we are the lessor include:


Maturity of Lease Payments (in thousands)	Operating Leases
2021 (Excluding nine months ended September 30, 2021)	$	5,099
2022	16,949
2023	14,141
2024	8,844
2025	4,976
Thereafter	5,804
Total Undiscounted Cash Flows	$	55,813

The components of lease income were as follows (in thousands):


	Three Months Ended				Nine Months Ended
Description	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Operating Leases

Fixed lease income	$	5,293	$	312	$	14,346	$	934
Variable lease income(1)	$	1,284	$	399	$	3,554	$	1,195

(1)Consists of rent primarily based on a percentage of revenues at the related properties.

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements - Adopted In July 2021, the FASB issued ASU 2021-05, "Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments." This update amends ASC 842 so that lessors are no longer required to recognize a selling loss upon commencement of a lease with variable lease payments that, prior to the amendments, would have been classified as a sales-type or direct financing lease. Under the amended guidance, a lessor must classify as an operating lease any lease that would otherwise be classified as a sales-type or direct financing lease and that would result in the recognition of a selling loss at lease commencement, provided that the lease includes variable lease payments that do not depend on an index or rate. We adopted the ASU during the three months ended September 30, 2021. The adoption of this ASU did not have an impact on our Consolidated Financial Statements as none of our lessor leases with variable lease payments required us to recognize a selling loss upon commencement of the lease. 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. As of September 30, 2021, we do not expect the reference rate reform will have a material impact on our Consolidated Financial Statements as the majority of our debt is fixed.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=122150657&loc=SL122150809-237846

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (c)

+ Details

Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Acquisitions

Subsequent to the quarter ended September 30, 2021, we acquired the following properties:

Property Name

Property Type

Sites, Wet Slips and Dry Storage Spaces

Development
Sites

City

State / Province

Total
Purchase Price
(in millions)

Beaver Brook Campground

204

150

N Monmouth

4.5

Subsequent to the quarter ended September 30, 2021, we acquired land located in Chincoteague, VA for total consideration of $7.5 million.

Senior Unsecured Notes

On October 5, 2021, we issued $450.0 million of senior unsecured notes with an interest rate of 2.3 percent and a seven-year term, due November 1, 2028 (the "2028 Notes"). Interest on the 2028 Notes is payable semi-annually in arrears on May 1 and November 1 of each year, beginning on May 1, 2022. In addition, on October 5, 2021, we issued $150 million of senior unsecured notes with an interest rate of 2.7 percent and a 10-year term due July 15, 2031 (the "2031 Notes"). The 2031 Notes are additional notes of the same series as the $600.0 million aggregate principal amount of 2.7 percent senior unsecured notes due July 15, 2031 that we issued on June 28, 2021. The net proceeds from the offering were approximately $595.5 million after deducting underwriters' discounts and estimated offering expenses. The proceeds were used to pay down borrowings under our line of credit.

We have evaluated our Consolidated Financial Statements for subsequent events through the date that this Form 10-Q was issued.

Revenue (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables detail our revenue by major source (in thousands):


	Three Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marina		Consolidated		MH		RV		Marina	Consolidated
Revenues
Real property	$	203,648	$	185,765	$	89,212	$	478,625	$	188,177	$	132,311	N/A	$	320,488
Home sales	70,323		10,776		—		81,099		39,941		7,721		N/A	47,662
Service, retail, dining and entertainment	1,626		37,303		74,110		113,039		1,251		22,608		N/A	23,859
Interest	2,184		498		8		2,690		2,154		470		N/A	2,624
Brokerage commissions and other, net	3,636		4,846		359		8,841		2,920		2,961		N/A	5,881
Total Revenues	$	281,417	$	239,188	$	163,689	$	684,294	$	234,443	$	166,071	N/A	$	400,514

(1) Recast to reflect segment changes.


	Nine Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marina		Consolidated		MH		RV		Marina	Consolidated
Revenues
Real property	$	602,370	$	398,833	$	213,940	$	1,215,143	$	553,216	$	276,748	N/A	$	829,964
Home sales	185,576		29,570		—		215,146		110,797		15,982		N/A	126,779
Service, retail, dining and entertainment	5,340		64,061		200,702		270,103		4,377		32,285		N/A	36,662
Interest	6,353		1,656		31		8,040		6,293		1,316		N/A	7,609
Brokerage commissions and other, net	9,782		11,053		905		21,740		6,630		6,438		N/A	13,068
Total Revenues	$	809,421	$	505,173	$	415,578	$	1,730,172	$	681,313	$	332,769	N/A	$	1,014,082

Real Estate Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

During the nine months ended September 30, 2021, we acquired the following MH communities, RV resorts and marinas:

Community Name

Type

Sites, Wet Slips and
Dry Storage Spaces

Development Sites

State / Province

Month Acquired

Sun Outdoors Association Island

RV: asset acquisition

294

—

January

Blue Water Beach Resort

RV: asset acquisition

177

—

February

Tranquility MHC

MH: asset acquisition

—

February

Islamorada and Angler House(1)

Marina: asset acquisition

251

—

February

Prime Martha's Vineyard(1)

Marina: asset acquisition

390

—

March

Pleasant Beach Campground

RV: asset acquisition

102

—

ON, Canada

March

Cherrystone Family Camping Resort

RV: asset acquisition

669

—

March

Beachwood Resort

RV: asset acquisition

672

—

March

ThemeWorld RV Resort

RV: asset acquisition

148

—

April

Sylvan Glen Estates(2)

MH: asset acquisition

476

—

April

Shelter Island Boatyard

Marina: asset acquisition

—

May

Lauderdale Marine Center

Marina: asset acquisition

202

—

May

Apponaug Harbor(3)

Marina: asset acquisition

378

—

June

Cabrillo Isle(4)

Marina: business combination

483

—

June

Marathon Marina

Marina: asset acquisition

147

—

June

Allen Harbor

Marina: asset acquisition

165

—

July

Cisco Grove Campground & RV

RV: asset acquisition

407

July

Four Leaf Portfolio(5)

MH: asset acquisition

2,545

340

MI / IN

July

Harborage Yacht Club

Marina: asset acquisition

300

—

July

Zeman Portfolio(6)

RV: asset acquisition

686

—

IL / NJ

July

Southern Leisure Resort

RV: asset acquisition

496

—

August

Sunroad Marina

Marina: asset acquisition

617

—

August

Lazy Lakes RV

RV: asset acquisition

—

August

Puerto del Rey

Marina: asset acquisition

1,450

—

Puerto Rico

September

Stingray Point

Marina: asset acquisition

219

—

September

Detroit River

Marina: asset acquisition

440

—

September

Jetstream RV Resort

RV: asset acquisition

202

—

September

Total

11,706

747

(1) Includes two marinas.

(2) In conjunction with the acquisition, we issued 240,000 Series J preferred OP units. As of September 30, 2021, 240,000 Series J preferred OP units were outstanding.

(3) Combined with an existing adjacent marina.

(4) Acquired in connection with the Safe Harbor acquisition. Transfer of the marina was contingent on receiving third party consent.

(5) Includes nine MH communities.

(6) Includes two RV communities.

For the year ended December 31, 2020, we acquired the following MH communities, RV 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

—

January

Jellystone Natural Bridge

RV: asset acquisition

299

—

February

Forest Springs(2)

MH: asset acquisition

372

—

May

Crown Villa

RV: asset acquisition

123

—

June

Flamingo Lake

RV: asset acquisition

421

—

July

Woodsmoke

RV: asset acquisition

300

—

September

Jellystone Lone Star

RV: asset acquisition

344

—

September

El Capitan & Ocean Mesa(3)(4)

RV: asset acquisition

266

109

September

Highland Green Estates & Troy Villa(5)

MH: asset acquisition

1,162

—

September

Safe Harbor(6)

Marina: business combination

37,305

—

Various

October

Safe Harbor Hideaway Bay(7)

Marina: business combination

628

—

November

Gig Harbor

RV: asset acquisition

115

—

November

Maine MH Portfolio(8)

MH: asset acquisition

1,083

—

November

Safe Harbor Anacapa Isle(7)

Marina: business combination

453

—

December

Mears Annapolis

Marina: asset acquisitions

184

—

December

Wickford

Marina: asset acquisitions

—

December

Rybovich Portfolio(9)

Marina: business combination

—

December

Rockland

Marina: asset acquisitions

173

—

December

Mouse Mountain

MH / RV: asset acquisition

304

—

December

Lakeview Mobile Estates

MH: asset acquisition

296

—

December

Shenandoah Acres

RV: asset acquisition

522

—

December

Jellystone at Barton Lake

RV: asset acquisition

555

—

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.

(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.

(7) Acquired in connection with the Safe Harbor acquisition. Transfer of the 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


	At Acquisition Date										Consideration
	Investment in property		Inventory of manufactured homes, boat parts and retail related items		In-place leases, goodwill and other intangible assets		Other assets / (liabilities), net		Total identifiable assets acquired net of liabilities assumed		Cash and escrow		Temporary and permanent equity		Total consideration
Asset Acquisition
Sun Outdoors Association Island	$	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	22,258		138		127		(573)		21,950		21,950		—		21,950
Pleasant Beach Campground	1,531		—		57		1		1,589		1,589		—		1,589
Cherrystone Family Camping Resort	59,669		—		231		(2,029)		57,871		57,871		—		57,871
Beachwood Resort	14,004		—		211		(7,616)		6,599		6,599		—		6,599
ThemeWorld RV Resort	25,000		—		—		(104)		24,896		24,896		—		24,896
Sylvan Glen Estates	23,469		20		531		(269)		23,751		(249)		24,000		23,751
Shelter Island Boatyard	9,520		132		402		(85)		9,969		9,969		—		9,969
Lauderdale Marine Center	336,992		—		3,282		958		341,232		341,232		—		341,232
Apponaug Harbor	6,540		—		89		(689)		5,940		5,940		—		5,940
Marathon Marina	19,129		19		261		(227)		19,182		19,182		—		19,182
Allen Harbor	3,946		30		35		(111)		3,900		3,900		—		3,900
Cisco Grove Campground & RV	6,609		—		—		22		6,631		6,631		—		6,631
Four Leaf Portfolio	210,723		319		3,958		(464)		214,536		214,536		—		214,536
Harborage Yacht Club	17,392		43		4,646		(504)		21,577		21,577		—		21,577
Zeman Portfolio	14,184		—		731		(545)		14,370		14,370		—		14,370
Southern Leisure Resort	17,476		—		274		(329)		17,421		17,421		—		17,421
Sunroad Marina	38,570		—		537		44,008		83,115		83,115		—		83,115
Lazy Lakes RV	11,300		—		—		(66)		11,234		11,234		—		11,234
Puerto Del Rey(1)	93,377		610		—		(2,086)		91,901		91,901		—		91,901
Stingray Point	2,852		—		46		(287)		2,611		2,611		—		2,611
Detroit River	8,737		—		159		(599)		8,297		8,297		—		8,297
Jetstream RV Resort	17,025		—		475		(199)		17,301		17,301		—		17,301




Business Combination(2)
Cabrillo Isle	37,647		—		10,073		(703)		47,017		47,017		—		47,017

Total	$	1,041,166	$	1,333	$	26,435	$	26,787	$	1,095,721	$	1,071,721	$	24,000	$	1,095,721

(1) Purchase price allocation is preliminary as of September 30, 2021, subject to revision based on the final purchase price allocation.

(2) Refer to Note 5, "Goodwill and Other Intangibles Assets," for additional detail on goodwill and other intangible assets.

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 and retail related items		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(2)	1,643,879		5,700		435,077		(43,875)		2,040,781		1,141,797		829,000		69,984		2,040,781
Hideaway Bay	26,218		23		7,242		(1,077)		32,406		32,406		—		—		32,406
Anacapa Isle	10,924		—		3,146		60		14,130		14,130		—		—		14,130
Rybovich Portfolio(3)	122,064		620		249,840		(37)		372,487		258,123		—		114,364		372,487
Total	$	2,339,368	$	9,942	$	711,308	$	(59,275)	$	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.

(3) Purchase price allocation was preliminary as of December 31, 2020 and was adjusted as of March 31, 2021 based on the final purchase price allocation.

Business Acquisition, Pro Forma Information



	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Total revenues	$	685,662	$	401,867	$	1,734,088	$	1,017,988
Net income attributable to Sun Communities, Inc. common stockholders	$	231,580	$	82,122	$	367,838	$	125,905
Net income per share attributable to Sun Communities, Inc. common stockholders - basic	$	2.01	$	0.84	$	3.29	$	1.32
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted	$	1.96	$	0.84	$	3.22	$	1.32

Notes And Other Receivables (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2021		December 31, 2020
Installment notes receivable on manufactured homes, net	$	81,001	$	85,866
Notes receivable from real estate developers	64,593		52,638
Other receivables, net	111,330		83,146
Total Notes and Other Receivables, net	$	256,924	$	221,650

Schedule of Installment Notes Receivable

The change in the aggregate balance of the installment notes receivable is as follows (in thousands):


	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning balance of gross installment notes receivable	$	87,142	$	96,225
Financed sale of manufactured homes	7,232		5,014
Adjustment for notes receivable related to assets held for sale	477		(477)

Principal payments and payoffs from our customers	(8,867)		(8,977)
Principal reduction from repossessed homes	(2,342)		(4,643)
Dispositions of properties	(1,918)		—
Ending balance of gross installment notes receivable	81,724		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	560		(2,274)
Fair value adjustments on gross installment notes receivable	(723)		(1,276)

Ending balance of installment notes receivable, net	$	81,001	$	85,866

Intangible Assets Intangible Assets (Tables)

9 Months Ended

Sep. 30, 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):


		September 30, 2021				December 31, 2020
Other Intangible Asset	Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization

In-place leases	Expected term	$	160,862	$	(114,757)	$	145,531	$	(92,327)
Non-competition agreements	5 years	10,000		(1,500)		10,000		—
Trademarks and trade names	Various(1)	116,690		(625)		116,500		—
Customer relationships	7 - 15 years	107,978		(9,401)		108,000		(2,371)
Franchise agreements and other intangible assets	5.5 - 20 years	33,520		(5,142)		23,856		(3,578)
Total		$	429,050	$	(131,425)	$	403,887	$	(98,276)

(1)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.

Schedule of Intangible Assets Amortization Expense

Amortization expenses related to the Other intangible assets are as follows (in thousands):


	Three Months Ended				Nine Months Ended
Other Intangible Asset Amortization Expense	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
In-place leases	$	5,664	$	3,727	$	22,457	$	10,758
Non-competition agreements	500		—		1,500		—
Trademarks and trade names	208		—		625		—
Customer relationships	2,709		—		7,029		—
Franchise fees and other intangible assets	678		205		1,660		614
Total	$	9,759	$	3,932	$	33,271	$	11,372

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	$	5,519	$	13,215	$	9,491	$	6,619	$	5,778
Non-competition agreements	500		2,000		2,000		2,000		2,000
Trademarks and trade names	208		833		833		—		—
Customer relationships	2,710		10,838		10,838		10,838		10,838
Franchise agreements and other intangible assets	626		2,502		2,473		2,410		2,389
Total	$	9,563	$	29,388	$	25,635	$	21,867	$	21,005

Investment In Affiliates (Tables)

9 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The investment balance in each nonconsolidated affiliate is as follows (in thousands):


	Nine Months Ended		Year Ended
Investment	September 30, 2021		December 31, 2020
Investment in RezPlot	$	1,302	$	3,047
Investment in Sungenia JV	33,278		26,890
Investment in GTSC	34,767		25,495
Investment in OFS	321		152
Investment in SV Lift	2,978		3,490
Total	$	72,646	$	59,074

The income / (loss) from each nonconsolidated affiliate is as follows (in thousands):


	Three Months Ended				Nine Months Ended
Income / (Loss) from Nonconsolidated Affiliates	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
RezPlot equity income / (loss)	$	(789)	$	5	$	(1,745)	$	(1,150)
Sungenia JV equity income	432		51		1,241		198
GTSC equity income	1,653		1,263		4,250		2,723
OFS equity income	43		54		169		134
SV Lift equity loss	(377)		(169)		(988)		(557)
Total Income from Nonconsolidated Affiliates	$	962	$	1,204	$	2,927	$	1,348

Consolidated Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2021

DisclosureofVariableInterestEntities [Abstract]

Schedule of Variable Interest Entities


	September 30, 2021		December 31, 2020
Assets
Investment property, net	$	567,026	$	453,236
Other assets, net	28,670		25,072
Total Assets	$	595,696	$	478,308

Liabilities and Other Equity
Secured debt	$	49,054	$	47,706
Unsecured debt	35,249		35,249
Other liabilities	22,908		22,221
Total Liabilities	107,211		105,176
Temporary equity	37,064		32,719
Noncontrolling interests	18,527		16,084
Total Liabilities and Other Equity	$	162,802	$	153,979

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Debt And Lines Of Credit (Tables)

9 Months Ended

Sep. 30, 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 Years to Maturity		Weighted Average Interest Rates
	September 30, 2021		December 31, 2020		September 30, 2021	December 31, 2020	September 30, 2021		December 31, 2020








Secured Debt	$	3,403,436	$	3,489,983	10.8	11.4	3.780	%	3.751	%

Unsecured Debt
Senior unsecured notes	591,252		—		9.8	0.0	2.700	%	—	%

Line of credit and other debt	624,837		1,197,181		3.7	3.7	0.976	%	2.107	%
Preferred equity - Sun NG Resorts - mandatorily redeemable	35,249		35,249		3.0	3.8	6.000	%	6.000	%
Preferred OP units - mandatorily redeemable	34,663		34,663		4.4	5.1	5.932	%	5.932	%
Total Unsecured Debt	1,286,001		1,267,093
Total Debt	$	4,689,437	$	4,757,076	9.6	9.4	3.303	%	3.370	%


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 July 11, 2021 December 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 mortgage 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 mortgage term loans due to mature on July 1, 2020.

(3)The interest rate represents the weighted average interest rate on mortgage term loans.


Three Months Ended	Loan Amount			Term (in years)	Interest Rate			Maturity Date
December 31, 2020	$	268,800	(1)	12	2.662	%	(2)	May 1, 2030 November 1, 2032
March 31, 2020	$	230,000		15	2.995	%		April 1, 2035

(1)Includes three mortgage 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 mortgage term loans.

Equity and Temporary Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Activity of Conversions


		Nine Months Ended		Nine Months Ended
		September 30, 2021		September 30, 2020
Series	Conversion Rate	Units / Shares Converted	Common Stock(1)	Units / Shares Converted	Common Stock(1)
Common OP unit	1.0000	78,724	78,724	29,886	29,886
Series A-1 preferred OP unit	2.4390	19,296	47,058	10,614	25,884


Series C preferred OP unit	1.1100	—	—	1,485	1,648

(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 September 30, 2021 were as follows:

Distributions

Record Date

Payment Date

Distribution Per Share

Total Distribution (in Thousands)

Common Stock, Common OP units and Restricted Stock

9/30/2021

10/15/2021

0.83

98,344

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Restricted Stock Granted

During the nine months ended September 30, 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)	$	94.32	(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)	$	87.49	(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	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.

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 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
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas	Consolidated
Operating revenues	$	275,597	$	233,844	$	163,322	$	672,763	$	229,369	$	162,640	N/A	$	392,009
Property operating expenses	118,441		109,219		98,859		326,519		95,350		78,381		N/A	173,731
Net Operating Income	$	157,156	$	124,625	$	64,463	$	346,244	$	134,019	$	84,259	N/A	$	218,278
Adjustments to arrive at net income
Interest income							2,690							2,624
Brokerage commissions and other revenues, net							8,841							5,881

General and administrative expense							(43,276)							(26,834)
Catastrophic event-related charges, net							(328)							(14)

Depreciation and amortization							(127,091)							(88,499)


Interest expense							(39,026)							(30,214)
Interest on mandatorily redeemable preferred OP units / equity							(1,047)							(1,047)
Gain on remeasurement of marketable securities							12,072							1,492
Gain / (loss) on foreign currency translation							(7,028)							5,023
Gain on dispositions of properties							108,104							5,595
Other expense, net							(9,372)							(3,511)
Gain / (loss) on remeasurement of notes receivable							92							(445)
Income from nonconsolidated affiliates (see Note 6)							962							1,204
Loss on remeasurement of investment in nonconsolidated affiliates							(119)							(446)
Current tax benefit / (expense) (see Note 12)							(402)							107
Deferred tax benefit / (expense) (see Note 12)							(1,155)							562
Net Income							250,161							89,756
Less: Preferred return to preferred OP units / equity interests							3,101							1,645
Less: Income attributable to noncontrolling interests							15,290							6,907



Net Income Attributable to Sun Communities, Inc. Common Stockholders							$	231,770						$	81,204

(1) Recast to reflect segment changes.


	Nine Months Ended
	September 30, 2021								September 30, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas	Consolidated
Revenues	$	793,286	$	492,464	$	414,642	$	1,700,392	$	668,390	$	325,015	N/A	$	993,405
Operating expenses / Cost of sales	326,758		247,284		255,970		830,012		263,852		165,430		N/A	429,282
Net Operating Income / Gross Profit	$	466,528	$	245,180	$	158,672	$	870,380	$	404,538	$	159,585	N/A	$	564,123
Adjustments to arrive at net income
Interest income							8,040							7,609
Brokerage commissions and other revenues, net							21,740							13,068

General and administrative expense							(126,606)							(78,710)
Catastrophic event-related charges, net							(3,097)							(54)
Business combination expense, net							(1,031)							—
Depreciation and amortization							(378,068)							(259,453)

Loss on extinguishment of debt (see Note 8)							(8,108)							(5,209)
Interest expense							(116,224)							(94,058)
Interest on mandatorily redeemable preferred OP units / equity							(3,124)							(3,130)
Gain / (loss) on remeasurement of marketable securities							43,227							(2,636)
Loss on foreign currency translation							(7,107)							(2,496)
Gain on dispositions of properties							108,104							5,595
Other expense, net							(10,041)							(4,890)
Gain / (loss) on remeasurement of notes receivable							561							(2,311)
Income from nonconsolidated affiliates (see Note 6)							2,927							1,348
Loss on remeasurement of investment in nonconsolidated affiliates							(130)							(1,505)
Current tax expense (see Note 12)							(1,418)							(462)
Deferred tax benefit / (expense) (see Note 12)							(1,074)							804
Net Income							398,951							137,633
Less: Preferred return to preferred OP units / equity interests							9,000							4,799
Less: Income attributable to noncontrolling interests							22,629							8,806



Net Income Attributable to Sun Communities, Inc. Common Stockholders							$	367,322						$	124,028

(1) Recast to reflect segment changes.

Reconciliation of Assets from Segment to Consolidated


	September 30, 2021								December 31, 2020(1)
	MH		RV		Marinas		Consolidated		MH		RV		Marinas		Consolidated
Identifiable Assets
Investment property, net	$	4,983,329	$	3,373,068	$	2,520,039	$	10,876,436	$	4,823,174	$	3,038,686	$	1,853,931	$	9,715,791
Cash, cash equivalents and restricted cash	38,538		20,968		26,113		85,619		53,152		28,919		10,570		92,641
Marketable securities	103,829		56,492		—		160,321		80,776		43,950		—		124,726
Inventory of manufactured homes	36,526		7,182		—		43,708		33,448		13,195		—		46,643
Notes and other receivables, net	160,593		58,750		37,581		256,924		144,027		44,002		33,621		221,650
Goodwill	—		—		461,609		461,609		—		—		428,833		428,833
Other intangible assets, net	30,247		23,854		243,524		297,625		33,998		23,819		247,794		305,611
Other assets, net	178,491		40,882		181,681		401,054		184,917		38,075		47,699		270,691
Total Assets	$	5,531,553	$	3,581,196	$	3,470,547	$	12,583,296	$	5,353,492	$	3,230,646	$	2,622,448	$	11,206,586

(1) Recast to reflect segment changes

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

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				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Numerator
Net Income Attributable to Sun Communities, Inc. Common Stockholders	$	231,770	$	81,204	$	367,322	$	124,028
Less: allocation to restricted stock awards	1,508		536		2,352		821
Basic earnings - Net Income attributable to common stockholders after allocation to restricted stock awards	$	230,262	$	80,668	$	364,970	$	123,207

Add: allocation to common and preferred OP units dilutive effect	5,641		—		8,269		—
Diluted earnings - Net Income attributable to common stockholders after allocation to common and preferred OP units(1)	$	235,903	$	80,668	$	373,239	$	123,207


Denominator
Weighted average common shares outstanding	115,136		97,542		111,717		95,270
Add: common shares dilutive effect: Forward Equity Offering	—		6		—		2
Add: dilutive stock options	—		1		—		1

Add: common and preferred OP units dilutive effect	2,936		—		2,574		—
Diluted weighted average common shares and securities(1)	118,072		97,549		114,291		95,273
Earnings Per Share Available to Common Stockholders After Allocation
Basic earnings per share	$	2.00	$	0.83	$	3.27	$	1.29
Diluted earnings per share(1)	$	2.00	$	0.83	$	3.27	$	1.29

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 September 30, 2021 and 2020 (in thousands):


	Nine Months Ended
	September 30, 2021		September 30, 2020
Common OP units	—		2,473
A-1 preferred OP units	275		299
A-3 preferred OP units	40		40

Aspen preferred OP units	1,284	(1)	1,284

Series C preferred OP units	306		309
Series D preferred OP units	489		489
Series E preferred OP units	90		90
Series F preferred OP units	90		90
Series G preferred OP units	241		261
Series H preferred OP units	581		—
Series I preferred OP units	922		—
Series J preferred OP units	240		—
Total Securities	4,558		5,335

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping



	September 30, 2021
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	85,619	$	85,619	$	—	$	—	$	85,619
Marketable securities	160,321		160,321		—		—		160,321
Installment notes receivable on manufactured homes, net	81,001		—		—		81,001		81,001

Notes receivable from real estate developers	64,593		—		—		64,593		64,593
Total assets measured at fair value	$	391,534	$	245,940	$	—	$	145,594	$	391,534

Financial Liabilities
Secured debt	$	3,403,436	$	—	$	3,403,436	$	—	$	3,434,376


Unsecured debt
Senior unsecured notes	591,252		—		591,252		—		606,352

Line of credit and other unsecured debt	694,749		—		694,749		—		694,749
Total unsecured debt	1,286,001		—		1,286,001		—		1,301,101
Other financial liabilities (contingent consideration)	38,970		—		—		38,970		38,970
Total liabilities measured at fair value	$	4,728,407	$	—	$	4,689,437	$	38,970	$	4,774,447



	December 31, 2020
Financial Assets	Carrying Value		Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash, cash equivalents and restricted cash	$	92,641	$	92,641	$	—	$	—	$	92,641
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	$	355,871	$	217,367	$	138,504	$	—	$	355,871

Financial Liabilities
Secured debt	$	3,489,983	$	—	$	3,489,983	$	—	$	3,588,901




Unsecured debt
Line of credit and other unsecured debt	1,267,093		—		1,267,093		—		1,267,093
Total unsecured debt	1,267,093		—		1,267,093		—		1,267,093
Other financial 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

The change in the marketable securities balance is as follows (in thousands):



	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Beginning Balance	$	124,725	$	94,727
Additional purchases	—		11,757
Change in fair value measurement	43,202		6,132
Foreign currency translation adjustment	(10,052)		10,138
Dividend reinvestment, net of tax	2,446		1,971

Ending Balance	$	160,321	$	124,725


	Three Months Ended
	September 30, 2021
	Installment Notes Receivable on MH, net		Notes Receivable From Real Estate Developers		Other Liabilities (Contingent Consideration)
Level 3 beginning balance at June 30, 2021	$	82,506	$	61,955	$	18,101
Transfer to level 3	—		—		—
Transfer out of level 3	—		—		—
Net gain / loss	91		—		9,196
Purchases and issuances	3,299		3,383		11,893
Sales and settlements	(3,405)		(542)		—
Dispositions of properties	(1,918)		—		—
Other adjustments	428		(203)		(220)
Level 3 ending balance at September 30, 2021	$	81,001	$	64,593	$	38,970


	Nine Months Ended
	September 30, 2021
	Installment Notes Receivable on MH, 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 gain / loss	560		—		9,339
Purchases and issuances	7,232		14,523		15,332
Sales and settlements	(11,209)		(1,135)		—
Dispositions of properties	(1,918)		—		—
Other adjustments	470		(1,433)		(1,543)
Level 3 ending balance at September 30, 2021	$	81,001	$	64,593	$	38,970

Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Finance Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments under non-cancellable leases as of the nine months ended September 30, 2021 where we are the lessee include:



Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2021 (Excluding nine months ended September 30, 2021)	$	2,381	$	126	$	2,507
2022	9,057		223		9,280
2023	9,003		198		9,201
2024	9,347		4,070		13,417
2025	9,320		—		9,320
Thereafter	179,497		—		179,497
Total Lease Payments	$	218,605	$	4,617	$	223,222
Less: Imputed interest	(101,530)		(284)		(101,814)
Present Value of Lease Liabilities	$	117,075	$	4,333	$	121,408

Lease, Cost [Table Text Block]

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 September 30, 2021		As of December 31, 2020
Lease Assets
ROU asset obtained in exchange for new finance lease liabilities	Investment property, net	$	4,452	$	4,350
ROU asset obtained in exchange for new operating lease liabilities	Other assets, net	$	126,756	$	48,419
ROU asset obtained relative to below market operating lease	Other assets, net	$	72,249	$	27,614
Lease Liabilities
Finance lease liabilities	Other liabilities	$	4,333	$	4,334
Operating lease liabilities	Other liabilities	$	117,075	$	49,964

Lease expense for finance and operating leases, and short term lease cost as included in our Consolidated Statements of Operations are as follows (in thousands):


		Three Months Ended				Nine Months Ended
Description	Financial Statement Classification	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Finance Lease Expense

Interest on lease liabilities	Interest expense	$	27	$	26	$	79	$	77
Operating lease cost	General and administrative expense, Property operating and maintenance	2,771		973		7,223		2,925
Variable lease cost	Property operating and maintenance	1,886		431		5,004		1,220
Short term lease cost	Property operating and maintenance	57		—		195		—
Total Lease Expense		$	4,741	$	1,430	$	12,501	$	4,222

Lease term, discount rates and additional information for finance and operating leases are as follows:


	As of
Lease Term and Discount Rate	September 30, 2021
Weighted-average Remaining Lease Terms (years)
Finance lease	2.72
Operating lease	34.54
Weighted-average Discount Rate
Finance lease	2.45	%
Operating lease	3.84	%


	Nine Months Ended
Other Information (in thousands)	September 30, 2021		September 30, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flow from operating leases	$	4,512	$	1,836

Financing cash flow from finance leases	125		23
Total Cash Paid On Lease Liabilities	$	4,637	$	1,859

Lessor Accounting

The components of lease income were as follows (in thousands):


	Three Months Ended				Nine Months Ended
Description	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Operating Leases

Fixed lease income	$	5,293	$	312	$	14,346	$	934
Variable lease income(1)	$	1,284	$	399	$	3,554	$	1,195

(1)Consists of rent primarily based on a percentage of revenues at the related properties.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments under non-cancellable leases as of the nine months ended September 30, 2021 where we are the lessee include:



Maturity of Lease Liabilities (in thousands)	Operating Leases		Finance Leases		Total
2021 (Excluding nine months ended September 30, 2021)	$	2,381	$	126	$	2,507
2022	9,057		223		9,280
2023	9,003		198		9,201
2024	9,347		4,070		13,417
2025	9,320		—		9,320
Thereafter	179,497		—		179,497
Total Lease Payments	$	218,605	$	4,617	$	223,222
Less: Imputed interest	(101,530)		(284)		(101,814)
Present Value of Lease Liabilities	$	117,075	$	4,333	$	121,408

Future minimum lease payments under non-cancellable leases at our marinas and RV properties as of the nine months ended September 30, 2021 where we are the lessor include:


Maturity of Lease Payments (in thousands)	Operating Leases
2021 (Excluding nine months ended September 30, 2021)	$	5,099
2022	16,949
2023	14,141
2024	8,844
2025	4,976
Thereafter	5,804
Total Undiscounted Cash Flows	$	55,813

Basis of Presentation Basis of Presentation (Details) - segment		9 Months Ended
	Jan. 01, 2021	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Operating Segments	2	3

Revenue (Details) $ in Thousands		3 Months Ended		9 Months Ended
Revenue (Details) $ in Thousands	Jan. 01, 2021 segment	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) segment	Sep. 30, 2020 USD ($)
Disaggregation of Revenue [Line Items]
Real property		$ 478,625	$ 320,488	$ 1,215,143	$ 829,964
Revenues		684,294	400,514	$ 1,730,172	1,014,082
Number of Operating Segments \| segment	2			3
Number of reportable segments \| segment	2			3
Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property		478,625	320,488	$ 1,215,143	829,964
Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property		81,099	47,662	215,146	126,779
Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property		113,039	23,859	270,103	36,662
Interest [Member]
Disaggregation of Revenue [Line Items]
Real property		2,690	2,624	8,040	7,609
Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property		8,841	5,881	21,740	13,068
Real Property Operations Segment [Member] \| Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property		203,648	188,177	602,370	553,216
Real Property Operations Segment [Member] \| Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property		70,323	39,941	185,576	110,797
Real Property Operations Segment [Member] \| Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property		1,626	1,251	5,340	4,377
Real Property Operations Segment [Member] \| Interest [Member]
Disaggregation of Revenue [Line Items]
Real property		2,184	2,154	6,353	6,293
Real Property Operations Segment [Member] \| Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property		3,636	2,920	9,782	6,630
Home Sales and Home Rentals Segment [Member] \| Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property		185,765	132,311	398,833	276,748
Home Sales and Home Rentals Segment [Member] \| Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property		10,776	7,721	29,570	15,982
Home Sales and Home Rentals Segment [Member] \| Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property		37,303	22,608	64,061	32,285
Home Sales and Home Rentals Segment [Member] \| Interest [Member]
Disaggregation of Revenue [Line Items]
Real property		498	470	1,656	1,316
Home Sales and Home Rentals Segment [Member] \| Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property		4,846	2,961	11,053	6,438
Marinas
Disaggregation of Revenue [Line Items]
Revenues		163,689		415,578
Marinas \| Income From Real Property [Member]
Disaggregation of Revenue [Line Items]
Real property		89,212		213,940
Marinas \| Revenue From Home Sales [Member]
Disaggregation of Revenue [Line Items]
Real property		0		0
Marinas \| Ancillary Revenues [Member]
Disaggregation of Revenue [Line Items]
Real property		74,110		200,702
Marinas \| Interest [Member]
Disaggregation of Revenue [Line Items]
Real property		8		31
Marinas \| Brokerage Commissions And Other Revenues, Net [Member]
Disaggregation of Revenue [Line Items]
Real property		359		905
MH
Disaggregation of Revenue [Line Items]
Revenues		281,417	234,443	809,421	681,313
RV
Disaggregation of Revenue [Line Items]
Revenues		$ 239,188	$ 166,071	$ 505,173	$ 332,769

Real Estate Acquisitions, Schedule of Business Acquisitions, by Acquisition (Details)	1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended
	May 31, 2020 shares	Sep. 30, 2021 manufactured_home shares	Jun. 30, 2021 USD ($) community	Sep. 30, 2021 USD ($) community shares	Sep. 30, 2021 USD ($)	Sep. 30, 2021 site	Sep. 30, 2021 development_site	Sep. 30, 2021 marina	Sep. 30, 2021 RV_community	Dec. 31, 2020 shares	Dec. 31, 2020 USD ($)	Dec. 31, 2020 site	Dec. 31, 2020 development_site	Dec. 31, 2020 marina	Dec. 31, 2020 state	Oct. 31, 2020 shares	Sep. 30, 2020 shares
Business Acquisition [Line Items]
Development Sites \| development_site							747						109
Number of motor home communities (in communities) \| manufactured_home		9
Number of marinas owned (in marinas)								2	2
Investment in property					$ 1,041,166,000						$ 2,339,368,000
Inventory of manufactured homes, boat parts and retail related items					1,333,000						9,942,000
In-place leases, goodwill and other intangible assets					26,435,000						711,308,000
Other assets / (liabilities), net					26,787,000						59,275,000
Total identifiable assets acquired net of liabilities assumed					1,095,721,000						3,001,343,000
Cash and escrow			$ 1,923,855,000	$ 1,071,721,000
Debt assumed											837,800,000
Temporary and permanent equity			239,688,000	24,000,000
Total consideration			3,001,343,000	$ 1,095,721,000
Sites, Wet Slips and Dry Storage Spaces \| site						11,706						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, goodwill 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, goodwill 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, goodwill 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						90,000
Series A-4 Preferred Stock, Shares Issued \| shares		90,000		90,000
Series F Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) \| shares		90,000		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		240,710		240,710						240,710							260,710
Series H Preferred OP Units
Business Acquisition [Line Items]
Series A-4 Preferred Stock, Shares Issued \| shares		581,407		581,407						581,407						581,407
Series I Preferred OP Units
Business Acquisition [Line Items]
Shares outstanding (in shares) \| shares		922,000		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
In-place leases, goodwill 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
In-place leases, goodwill 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											1,337,000
In-place leases, goodwill 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
In-place leases, goodwill 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
In-place leases, goodwill 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											40,000
In-place leases, goodwill 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, goodwill 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					37,647,000						69,690,000
Inventory of manufactured homes, boat parts and retail related items					0						0
In-place leases, goodwill and other intangible assets					10,073,000						0
Other assets / (liabilities), net					(703,000)						10,321,000
Total identifiable assets acquired net of liabilities assumed					47,017,000						59,369,000
Cash and escrow			32,108,000	$ 47,017,000
Debt assumed											0
Temporary and permanent equity			27,261,000	0
Total consideration			59,369,000	47,017,000
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, goodwill 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]
Development Sites \| development_site							0
Sites, Wet Slips and Dry Storage Spaces \| site						294
Blue Water
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					9,000,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill 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
Temporary and permanent equity				0
Total consideration				8,849,000
Sites, Wet Slips and Dry Storage Spaces \| site						177
Tranquility MHC
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					1,250,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill 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
Temporary and permanent equity				0
Total consideration				1,249,000
Sites, Wet Slips and Dry Storage Spaces \| site						25
Pleasant Beach Campground
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					1,531,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					57,000
Other assets / (liabilities), net					1,000
Total identifiable assets acquired net of liabilities assumed					1,589,000
Cash and escrow				1,589,000
Temporary and permanent equity				0
Total consideration				1,589,000
Sites, Wet Slips and Dry Storage Spaces \| site						102
Cherrystone Family Camping
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					59,669,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					231,000
Other assets / (liabilities), net					(2,029,000)
Total identifiable assets acquired net of liabilities assumed					57,871,000
Cash and escrow				57,871,000
Temporary and permanent equity				0
Total consideration				57,871,000
Sites, Wet Slips and Dry Storage Spaces \| site						669
Beachwood
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					14,004,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					211,000
Other assets / (liabilities), net					(7,616,000)
Total identifiable assets acquired net of liabilities assumed					6,599,000
Cash and escrow				6,599,000
Temporary and permanent equity				0
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
Number of marinas owned (in marinas) \| marina														99
In-place leases, goodwill and other intangible assets											5,700,000
Other assets / (liabilities), net											43,875,000
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											435,077,000
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
Number of States in which Entity Operates \| state															22
Islamorada and Angler House
Business Acquisition [Line Items]
Development Sites \| development_site							0
Total identifiable assets acquired net of liabilities assumed					17,975,000
Temporary and permanent equity				0
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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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, goodwill 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]
Development Sites \| development_site							0
Total identifiable assets acquired net of liabilities assumed					21,950,000
Temporary and permanent equity				$ 0
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
Themeworld RV
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					25,000,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					0
Other assets / (liabilities), net					(104,000)
Total identifiable assets acquired net of liabilities assumed					24,896,000
Cash and escrow				24,896,000
Temporary and permanent equity				0
Total consideration				24,896,000
Sites, Wet Slips and Dry Storage Spaces \| site						148
Sylvan Glen Estates
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					23,469,000
Inventory of manufactured homes, boat parts and retail related items					20,000
In-place leases, goodwill and other intangible assets					531,000
Other assets / (liabilities), net					(269,000)
Total identifiable assets acquired net of liabilities assumed					23,751,000
Cash and escrow				(249,000)
Temporary and permanent equity				24,000,000
Total consideration				23,751,000
Sites, Wet Slips and Dry Storage Spaces \| site						476
Shelter Island
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					9,520,000
Inventory of manufactured homes, boat parts and retail related items					132,000
In-place leases, goodwill and other intangible assets					402,000
Other assets / (liabilities), net					(85,000)
Total identifiable assets acquired net of liabilities assumed					9,969,000
Cash and escrow				9,969,000
Temporary and permanent equity				0
Total consideration				9,969,000
Sites, Wet Slips and Dry Storage Spaces \| site						55
Lauderdale Marine Center
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					336,992,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					3,282,000
Other assets / (liabilities), net					958,000
Total identifiable assets acquired net of liabilities assumed					341,232,000
Cash and escrow				341,232,000
Temporary and permanent equity				0
Total consideration				341,232,000
Sites, Wet Slips and Dry Storage Spaces \| site						202
Apponaug Harbor
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					6,540,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					89,000
Other assets / (liabilities), net					(689,000)
Total identifiable assets acquired net of liabilities assumed					5,940,000
Cash and escrow				5,940,000
Temporary and permanent equity				0
Total consideration				5,940,000
Sites, Wet Slips and Dry Storage Spaces \| site						378
Cabrillo Isle
Business Acquisition [Line Items]
Development Sites \| development_site							0
Sites, Wet Slips and Dry Storage Spaces \| site						483
Marathon Marina
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					19,129,000
Inventory of manufactured homes, boat parts and retail related items					19,000
In-place leases, goodwill and other intangible assets					261,000
Other assets / (liabilities), net					(227,000)
Total identifiable assets acquired net of liabilities assumed					19,182,000
Cash and escrow				19,182,000
Temporary and permanent equity				0
Total consideration				19,182,000
Sites, Wet Slips and Dry Storage Spaces \| site						147
Allen Harbor
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					3,946,000
Inventory of manufactured homes, boat parts and retail related items					30,000
In-place leases, goodwill and other intangible assets					35,000
Other assets / (liabilities), net					(111,000)
Total identifiable assets acquired net of liabilities assumed					3,900,000
Cash and escrow				3,900,000
Temporary and permanent equity				0
Total consideration				3,900,000
Sites, Wet Slips and Dry Storage Spaces \| site						165
Cisco Grove Camp Resort
Business Acquisition [Line Items]
Development Sites \| development_site							407
Investment in property					6,609,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					0
Other assets / (liabilities), net					22,000
Total identifiable assets acquired net of liabilities assumed					6,631,000
Cash and escrow				6,631,000
Temporary and permanent equity				0
Total consideration				6,631,000
Sites, Wet Slips and Dry Storage Spaces \| site						18
Four Leaf Portfolio
Business Acquisition [Line Items]
Development Sites \| development_site							340
Investment in property					210,723,000
Inventory of manufactured homes, boat parts and retail related items					319,000
In-place leases, goodwill and other intangible assets					3,958,000
Other assets / (liabilities), net					(464,000)
Total identifiable assets acquired net of liabilities assumed					214,536,000
Cash and escrow				214,536,000
Temporary and permanent equity				0
Total consideration				214,536,000
Sites, Wet Slips and Dry Storage Spaces \| site						2,545
Harborage Yacht Club
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					17,392,000
Inventory of manufactured homes, boat parts and retail related items					43,000
In-place leases, goodwill and other intangible assets					4,646,000
Other assets / (liabilities), net					(504,000)
Total identifiable assets acquired net of liabilities assumed					21,577,000
Cash and escrow				21,577,000
Temporary and permanent equity				0
Total consideration				21,577,000
Sites, Wet Slips and Dry Storage Spaces \| site						300
Zenman Portfolio
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					14,184,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					731,000
Other assets / (liabilities), net					(545,000)
Total identifiable assets acquired net of liabilities assumed					14,370,000
Cash and escrow				14,370,000
Temporary and permanent equity				0
Total consideration				14,370,000
Sites, Wet Slips and Dry Storage Spaces \| site						686
Southern Leisure Resort
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					17,476,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					274,000
Other assets / (liabilities), net					(329,000)
Total identifiable assets acquired net of liabilities assumed					17,421,000
Cash and escrow				17,421,000
Temporary and permanent equity				0
Total consideration				17,421,000
Sites, Wet Slips and Dry Storage Spaces \| site						496
Sunroad Marina
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					38,570,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					537,000
Other assets / (liabilities), net					44,008,000
Total identifiable assets acquired net of liabilities assumed					83,115,000
Cash and escrow				83,115,000
Temporary and permanent equity				0
Total consideration				83,115,000
Sites, Wet Slips and Dry Storage Spaces \| site						617
Puerto del Rey
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					93,377,000
Inventory of manufactured homes, boat parts and retail related items					610,000
In-place leases, goodwill and other intangible assets					0
Other assets / (liabilities), net					(2,086,000)
Total identifiable assets acquired net of liabilities assumed					91,901,000
Cash and escrow				91,901,000
Temporary and permanent equity				0
Total consideration				91,901,000
Sites, Wet Slips and Dry Storage Spaces \| site						1,450
Stingray Point
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					2,852,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					46,000
Other assets / (liabilities), net					(287,000)
Total identifiable assets acquired net of liabilities assumed					2,611,000
Cash and escrow				2,611,000
Temporary and permanent equity				0
Total consideration				2,611,000
Sites, Wet Slips and Dry Storage Spaces \| site						219
Kean's Marina
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					8,737,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					159,000
Other assets / (liabilities), net					(599,000)
Total identifiable assets acquired net of liabilities assumed					8,297,000
Cash and escrow				8,297,000
Temporary and permanent equity				0
Total consideration				8,297,000
Sites, Wet Slips and Dry Storage Spaces \| site						440
Jetstream RV Resort
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					17,025,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					475,000
Other assets / (liabilities), net					(199,000)
Total identifiable assets acquired net of liabilities assumed					17,301,000
Cash and escrow				17,301,000
Temporary and permanent equity				0
Total consideration				17,301,000
Sites, Wet Slips and Dry Storage Spaces \| site						202
Lazy Lakes RV
Business Acquisition [Line Items]
Development Sites \| development_site							0
Investment in property					11,300,000
Inventory of manufactured homes, boat parts and retail related items					0
In-place leases, goodwill and other intangible assets					0
Other assets / (liabilities), net					(66,000)
Total identifiable assets acquired net of liabilities assumed					$ 11,234,000
Cash and escrow				11,234,000
Temporary and permanent equity				0
Total consideration				$ 11,234,000
Sites, Wet Slips and Dry Storage Spaces \| site						99

Real Estate Acquisitions, Schedule of Purchase Price Allocation (Details)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2021 USD ($) manufactured_home	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 marina	Sep. 30, 2021 RV_community	Dec. 31, 2020 USD ($) marina
Business Acquisition [Line Items]
Capitalized transaction costs	$ 10,900,000		$ 10,900,000
At acquistion date
Investment in property	1,041,166,000		1,041,166,000			$ 2,339,368,000
Inventory of manufactured homes, boat parts and retail related items	1,333,000		1,333,000			9,942,000
In-place leases, goodwill and other intangible assets	26,435,000		26,435,000			711,308,000
Other assets / (liabilities), net	26,787,000		26,787,000			59,275,000
Total identifiable assets acquired and liabilities assumed	$ 1,095,721,000		1,095,721,000			3,001,343,000
Consideration
Cash and escrow		$ 1,923,855,000	1,071,721,000
Debt assumed						837,800,000
Temporary and permanent equity		239,688,000	24,000,000
Total consideration		3,001,343,000	1,095,721,000
Number of marinas owned (in marinas)				2	2
Number of motor home communities (in communities) \| manufactured_home	9
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)		(317,000)
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets	269,000		269,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	18,001,000		18,001,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Inventory	22,000		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)		(573,000)
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Goodwill And Other Intangible Assets	127,000		127,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	22,258,000		22,258,000
Asset Acquisition, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Liabilities, Inventory	138,000		138,000
Cape Cod
At acquistion date
Investment in property						13,350,000
Inventory of manufactured homes, boat parts and retail related items						0
In-place leases, goodwill 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
In-place leases, goodwill 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						1,337,000
In-place leases, goodwill 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
In-place leases, goodwill 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
In-place leases, goodwill 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						40,000
In-place leases, goodwill 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, goodwill 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	37,647,000		37,647,000			69,690,000
Inventory of manufactured homes, boat parts and retail related items	0		0			0
In-place leases, goodwill and other intangible assets	10,073,000		10,073,000			0
Other assets / (liabilities), net	(703,000)		(703,000)			10,321,000
Total identifiable assets acquired and liabilities assumed	47,017,000		47,017,000			59,369,000
Consideration
Cash and escrow		32,108,000	47,017,000
Debt assumed						0
Temporary and permanent equity		27,261,000	0
Total consideration		59,369,000	47,017,000
Blue Water
At acquistion date
Investment in property	9,000,000		9,000,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	(151,000)		(151,000)
Total identifiable assets acquired and liabilities assumed	8,849,000		8,849,000
Consideration
Cash and escrow			8,849,000
Temporary and permanent equity			0
Total consideration			8,849,000
Tranquility MHC
At acquistion date
Investment in property	1,250,000		1,250,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	(1,000)		(1,000)
Total identifiable assets acquired and liabilities assumed	1,249,000		1,249,000
Consideration
Cash and escrow			1,249,000
Temporary and permanent equity			0
Total consideration			1,249,000
Pleasant Beach Campground
At acquistion date
Investment in property	1,531,000		1,531,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	57,000		57,000
Other assets / (liabilities), net	1,000		1,000
Total identifiable assets acquired and liabilities assumed	1,589,000		1,589,000
Consideration
Cash and escrow			1,589,000
Temporary and permanent equity			0
Total consideration			1,589,000
Cherrystone Family Camping
At acquistion date
Investment in property	59,669,000		59,669,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	231,000		231,000
Other assets / (liabilities), net	(2,029,000)		(2,029,000)
Total identifiable assets acquired and liabilities assumed	57,871,000		57,871,000
Consideration
Cash and escrow			57,871,000
Temporary and permanent equity			0
Total consideration			57,871,000
Beachwood
At acquistion date
Investment in property	14,004,000		14,004,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	211,000		211,000
Other assets / (liabilities), net	(7,616,000)		(7,616,000)
Total identifiable assets acquired and liabilities assumed	6,599,000		6,599,000
Consideration
Cash and escrow			6,599,000
Temporary and permanent equity			0
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, goodwill 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, goodwill and other intangible assets						5,700,000
Other assets / (liabilities), net						43,875,000
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						$ 435,077,000
Number of marinas owned (in marinas) \| marina						99
Safe Harbor Hideaway Bay
At acquistion date
In-place leases, goodwill 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, goodwill 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, goodwill 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		17,975,000
Consideration
Temporary and permanent equity			0
Total consideration			17,975,000
Prime Martha's Vineyard
At acquistion date
Total identifiable assets acquired and liabilities assumed	21,950,000		21,950,000
Consideration
Temporary and permanent equity			0
Total consideration			21,950,000
Themeworld RV
At acquistion date
Investment in property	25,000,000		25,000,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	(104,000)		(104,000)
Total identifiable assets acquired and liabilities assumed	24,896,000		24,896,000
Consideration
Cash and escrow			24,896,000
Temporary and permanent equity			0
Total consideration			24,896,000
Sylvan Glen Estates
At acquistion date
Investment in property	23,469,000		23,469,000
Inventory of manufactured homes, boat parts and retail related items	20,000		20,000
In-place leases, goodwill and other intangible assets	531,000		531,000
Other assets / (liabilities), net	(269,000)		(269,000)
Total identifiable assets acquired and liabilities assumed	23,751,000		23,751,000
Consideration
Cash and escrow			(249,000)
Temporary and permanent equity			24,000,000
Total consideration			23,751,000
Shelter Island
At acquistion date
Investment in property	9,520,000		9,520,000
Inventory of manufactured homes, boat parts and retail related items	132,000		132,000
In-place leases, goodwill and other intangible assets	402,000		402,000
Other assets / (liabilities), net	(85,000)		(85,000)
Total identifiable assets acquired and liabilities assumed	9,969,000		9,969,000
Consideration
Cash and escrow			9,969,000
Temporary and permanent equity			0
Total consideration			9,969,000
Apponaug Harbor
At acquistion date
Investment in property	6,540,000		6,540,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	89,000		89,000
Other assets / (liabilities), net	(689,000)		(689,000)
Total identifiable assets acquired and liabilities assumed	5,940,000		5,940,000
Consideration
Cash and escrow			5,940,000
Temporary and permanent equity			0
Total consideration			5,940,000
Lauderdale Marine Center
At acquistion date
Investment in property	336,992,000		336,992,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	3,282,000		3,282,000
Other assets / (liabilities), net	958,000		958,000
Total identifiable assets acquired and liabilities assumed	341,232,000		341,232,000
Consideration
Cash and escrow			341,232,000
Temporary and permanent equity			0
Total consideration			341,232,000
Marathon Marina
At acquistion date
Investment in property	19,129,000		19,129,000
Inventory of manufactured homes, boat parts and retail related items	19,000		19,000
In-place leases, goodwill and other intangible assets	261,000		261,000
Other assets / (liabilities), net	(227,000)		(227,000)
Total identifiable assets acquired and liabilities assumed	19,182,000		19,182,000
Consideration
Cash and escrow			19,182,000
Temporary and permanent equity			0
Total consideration			19,182,000
Sun Outdoors
At acquistion date
Investment in property	14,965,000		14,965,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	41,000		41,000
Other assets / (liabilities), net	(248,000)		(248,000)
Total identifiable assets acquired and liabilities assumed	14,758,000		14,758,000
Consideration
Cash and escrow			14,758,000
Temporary and permanent equity			0
Total consideration			14,758,000
Allen Harbor
At acquistion date
Investment in property	3,946,000		3,946,000
Inventory of manufactured homes, boat parts and retail related items	30,000		30,000
In-place leases, goodwill and other intangible assets	35,000		35,000
Other assets / (liabilities), net	(111,000)		(111,000)
Total identifiable assets acquired and liabilities assumed	3,900,000		3,900,000
Consideration
Cash and escrow			3,900,000
Temporary and permanent equity			0
Total consideration			3,900,000
Cisco Grove Camp Resort
At acquistion date
Investment in property	6,609,000		6,609,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	22,000		22,000
Total identifiable assets acquired and liabilities assumed	6,631,000		6,631,000
Consideration
Cash and escrow			6,631,000
Temporary and permanent equity			0
Total consideration			6,631,000
Four Leaf Portfolio
At acquistion date
Investment in property	210,723,000		210,723,000
Inventory of manufactured homes, boat parts and retail related items	319,000		319,000
In-place leases, goodwill and other intangible assets	3,958,000		3,958,000
Other assets / (liabilities), net	(464,000)		(464,000)
Total identifiable assets acquired and liabilities assumed	214,536,000		214,536,000
Consideration
Cash and escrow			214,536,000
Temporary and permanent equity			0
Total consideration			214,536,000
Harborage Yacht Club
At acquistion date
Investment in property	17,392,000		17,392,000
Inventory of manufactured homes, boat parts and retail related items	43,000		43,000
In-place leases, goodwill and other intangible assets	4,646,000		4,646,000
Other assets / (liabilities), net	(504,000)		(504,000)
Total identifiable assets acquired and liabilities assumed	21,577,000		21,577,000
Consideration
Cash and escrow			21,577,000
Temporary and permanent equity			0
Total consideration			21,577,000
Zenman Portfolio
At acquistion date
Investment in property	14,184,000		14,184,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	731,000		731,000
Other assets / (liabilities), net	(545,000)		(545,000)
Total identifiable assets acquired and liabilities assumed	14,370,000		14,370,000
Consideration
Cash and escrow			14,370,000
Temporary and permanent equity			0
Total consideration			14,370,000
Southern Leisure Resort
At acquistion date
Investment in property	17,476,000		17,476,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	274,000		274,000
Other assets / (liabilities), net	(329,000)		(329,000)
Total identifiable assets acquired and liabilities assumed	17,421,000		17,421,000
Consideration
Cash and escrow			17,421,000
Temporary and permanent equity			0
Total consideration			17,421,000
Sunroad Marina
At acquistion date
Investment in property	38,570,000		38,570,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	537,000		537,000
Other assets / (liabilities), net	44,008,000		44,008,000
Total identifiable assets acquired and liabilities assumed	83,115,000		83,115,000
Consideration
Cash and escrow			83,115,000
Temporary and permanent equity			0
Total consideration			83,115,000
Puerto del Rey
At acquistion date
Investment in property	93,377,000		93,377,000
Inventory of manufactured homes, boat parts and retail related items	610,000		610,000
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	(2,086,000)		(2,086,000)
Total identifiable assets acquired and liabilities assumed	91,901,000		91,901,000
Consideration
Cash and escrow			91,901,000
Temporary and permanent equity			0
Total consideration			91,901,000
Stingray Point
At acquistion date
Investment in property	2,852,000		2,852,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	46,000		46,000
Other assets / (liabilities), net	(287,000)		(287,000)
Total identifiable assets acquired and liabilities assumed	2,611,000		2,611,000
Consideration
Cash and escrow			2,611,000
Temporary and permanent equity			0
Total consideration			2,611,000
Kean's Marina
At acquistion date
Investment in property	8,737,000		8,737,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	159,000		159,000
Other assets / (liabilities), net	(599,000)		(599,000)
Total identifiable assets acquired and liabilities assumed	8,297,000		8,297,000
Consideration
Cash and escrow			8,297,000
Temporary and permanent equity			0
Total consideration			8,297,000
Jetstream RV Resort
At acquistion date
Investment in property	17,025,000		17,025,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	475,000		475,000
Other assets / (liabilities), net	(199,000)		(199,000)
Total identifiable assets acquired and liabilities assumed	17,301,000		17,301,000
Consideration
Cash and escrow			17,301,000
Temporary and permanent equity			0
Total consideration			17,301,000
Lazy Lakes RV
At acquistion date
Investment in property	11,300,000		11,300,000
Inventory of manufactured homes, boat parts and retail related items	0		0
In-place leases, goodwill and other intangible assets	0		0
Other assets / (liabilities), net	(66,000)		(66,000)
Total identifiable assets acquired and liabilities assumed	$ 11,234,000		11,234,000
Consideration
Cash and escrow			11,234,000
Temporary and permanent equity			0
Total consideration			$ 11,234,000

Real Estate Acquisitions, Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Acquisitions - 2019
Business Acquisition [Line Items]
Total revenues		$ 401,867		$ 1,017,988
Net income attributable to Sun Communities, Inc. common stockholders		$ 82,122		$ 125,905
Net income per share attributable to Sun Communities, Inc. common stockholders - basic		$ 0.84		$ 1.32
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted		$ 0.84		$ 1.32
Acquisitions - 2020
Business Acquisition [Line Items]
Total revenues	$ 685,662		$ 1,734,088
Net income attributable to Sun Communities, Inc. common stockholders	$ 231,580		$ 367,838
Net income per share attributable to Sun Communities, Inc. common stockholders - basic	$ 2.01		$ 3.29
Net income per share attributable to Sun Communities, Inc. common stockholders - diluted	$ 1.96		$ 3.22

Real Estate Acquisitions, Narrative (Details) $ in Thousands				3 Months Ended		6 Months Ended	9 Months Ended
	Aug. 18, 2021 USD ($) site development_site	Jul. 02, 2021 USD ($) site development_site	Jul. 01, 2020 USD ($) site	Sep. 30, 2021 USD ($) shares	Sep. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) landParcel shares	Sep. 30, 2020 USD ($) landParcel	Sep. 30, 2021 USD ($)	Sep. 30, 2021 development_site	Sep. 30, 2021 marina	Sep. 30, 2021 RV_community	Apr. 30, 2021 shares	Dec. 31, 2020 USD ($) marina state
Business Acquisition [Line Items]
Total consideration						$ 3,001,343	$ 1,095,721
Number of marinas owned (in marinas)											2	2
Gain on dispositions of properties				$ 108,104	$ 5,595		108,104	$ 5,595
Capitalized transaction costs									$ 10,900
Business combination				0	0	23,000	$ 1,031	$ 0
Real Estate Held-for-sale														$ 32,100
Number Of Land Parcels Acquired \| landParcel							3	8
Payments to Acquire Land							$ 7,700	$ 9,700
Number Of Land Parcels Acquired Adjacent To Existing Communities \| landParcel								7
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number Of Housing Sites Sold \| site			226
Number of Development Sites \| development_site										500
Number Of Housing Sites Sold \| site			226
Business combination				$ 0	$ 0	23,000	$ 1,031	$ 0
Capitalized transaction costs									$ 10,900
Number Of Land Parcels Acquired \| landParcel							3	8
Payments to Acquire Land							$ 7,700	$ 9,700
Number Of Land Parcels Acquired Adjacent To Existing Communities \| landParcel								7
Investment Property
Business Acquisition [Line Items]
Real Estate Reclassified from Held for Sale to Held and used						34,500
Other Liabilities
Business Acquisition [Line Items]
Real Estate Reclassified from Held for Sale to Held and used						3,800
Series J Preferred Op Units
Business Acquisition [Line Items]
Series A-4 Preferred Stock, Shares Issued \| shares				240,000			240,000						240,000
Safe Harbor Marinas
Business Acquisition [Line Items]
Capitalized transaction costs														13,400
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Capitalized transaction costs														$ 13,400
Safe Harbor Marinas
Business Acquisition [Line Items]
Number of marinas owned (in marinas) \| marina														99
Number of States in which Entity Operates \| state														22
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Business Combination, Considered Transferred, Deferred Payment						$ 2,040,781
Marathon Marina
Business Acquisition [Line Items]
Total consideration							$ 19,182
Business combination				$ 1,000
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Business combination				$ 1,000
Countryside Village
Business Acquisition [Line Items]
Consideration received			$ 12,600
Gain on dispositions of properties			$ 5,600
Pin Oak
Business Acquisition [Line Items]
Consideration received		$ 67,500
Gain on dispositions of properties		$ 49,400
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number Of Housing Sites Sold \| site		677
Number of Properties Sold \| development_site		2
Number Of Housing Sites Sold \| site		677
Deerfield Run [Member]
Business Acquisition [Line Items]
Consideration received		$ 67,500
Gain on dispositions of properties							$ 49,400
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number of Properties Sold \| development_site		2
Fiesta Village
Business Acquisition [Line Items]
Consideration received	$ 94,600
Gain on dispositions of properties	$ 58,700
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number of Properties Sold \| development_site	4
Verde Plaza
Business Acquisition [Line Items]
Consideration received	$ 94,600
Gain on dispositions of properties	$ 58,700
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number Of Housing Sites Sold \| site	1,137
Number of Properties Sold \| development_site	4
Number Of Housing Sites Sold \| site	1,137
Candlelight Village
Business Acquisition [Line Items]
Consideration received	$ 94,600
Gain on dispositions of properties	$ 58,700
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number of Properties Sold \| development_site	4
Southfork
Business Acquisition [Line Items]
Consideration received	$ 94,600
Gain on dispositions of properties	$ 58,700
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Number of Properties Sold \| development_site	4

Notes and Other Receivables, Schedule of notes and other receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 256,924	$ 221,650
Other Receivables, Storage And Lease Payments, Marina	26,286	19,197
Insurance receivables	10,658	13,597
Other receivables for rent, water, sewer usage	10,723	7,106
Other Receivables	111,330	83,146
Home sale proceeds	38,219	23,643
Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	81,001	85,866
Installment notes receivable on manufactured homes, net \| Reported Value Measurement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other Receivables	25,444	19,603
Notes receivable from real estate developers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	64,593	52,638
Other receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes and other receivables, net	$ 111,330	$ 83,146

Notes And Other Receivables - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with imputed interest, net		$ 81,001		$ 85,866
Accounts and Financing Receivable, after Allowance for Credit Loss		256,924		221,650
Undrawn Funds On Loans		10,300
Notes Receivable, Fair Value Disclosure		64,593		52,638
Other receivables for rent, water, sewer usage		10,723		7,106
Allowance for rent, water, sewer usage receivables		(5,800)		(7,200)
Insurance receivables		10,658		13,597
Other Receivables		111,330		83,146
Other Receivables, Storage And Lease Payments, Marina		26,286		19,197
Home sale proceeds		38,219		23,643
Home sale proceeds		38,219		23,643
Other Receivables, Storage And Lease Payments, Marina		$ 26,286		19,197
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		$ 7,600		2,000
Convertible Notes Payable		7,600		2,000
Marinas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for rent, water, sewer usage receivables		(1,600)		(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		$ 81,001		85,866
Receivable with Imputed Interest, Effective Yield (Interest Rate)	7.80%	7.60%
Receivable With Imputed Interest, Term	15 years 2 months 12 days	14 years 9 months 18 days
Notes receivable from real estate developers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss		$ 64,593		52,638
Receivable with Imputed Interest, Effective Yield (Interest Rate)	6.20%	6.30%
Receivable With Imputed Interest, Term	1 year 9 months 18 days	1 year 3 months 18 days
Other receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Financing Receivable, after Allowance for Credit Loss		$ 111,330		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		25,444		19,603
Fair Value, Recurring \| Installment notes receivable on manufactured homes, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, fair value adjustment		(700)	$ 0	(1,276)	$ 991	$ 0
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		(723)		(1,276)
Accounts and Financing Receivable, after Allowance for Credit Loss		81,001		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		560			$ (2,274)
Accounts and Financing Receivable, after Allowance for Credit Loss		$ 81,001		$ 85,866

Notes and Other Receivables, Schedule of installment notes receivable (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with imputed interest, net	$ 81,001	$ 85,866
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	7,232	5,014
Principal payments and payoffs from our customers	(8,867)	(8,977)
Principal reduction from repossessed homes	2,342	4,643
Dispositions of Properties	(1,918)	0
Ending balance	81,724	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	(700)	(1,276)	$ 0	$ 991	$ 0
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	560			$ (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	$ (723)	$ (1,276)

Intangible Assets Intangible Assets, Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 429,050,000	$ 403,887,000
Accumulated Amortization	(131,425,000)	(98,276,000)
Goodwill	461,609,000	428,833,000
Goodwill, Impairment Loss	0	0
Goodwill
Finite-Lived Intangible Assets [Line Items]
Goodwill	32,776,000
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	160,862,000	145,531,000
Accumulated Amortization	(114,757,000)	(92,327,000)
2023	6,619,000
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,520,000	23,856,000
Accumulated Amortization	(5,142,000)	(3,578,000)
2023	$ 21,867,000
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Gross Carrying Amount	$ 10,000,000	10,000,000
Accumulated Amortization	(1,500,000)	0
2023	0
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,978,000	108,000,000
Accumulated Amortization	(9,401,000)	(2,371,000)
2023	$ 2,410,000
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Gross Carrying Amount	$ 116,690,000	116,500,000
Accumulated Amortization	(625,000)	$ 0
2023	$ 10,838,000
Minimum [Member] \| Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years 6 months
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	15 years

Intangible Assets Intangible Assets, Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 9,759	$ 3,932	$ 33,271	$ 11,372
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	5,664	3,727	22,457	10,758
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	678	205	1,660	614
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	500	0	1,500	0
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	208	0	625	0
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 2,709	$ 0	$ 7,029	$ 0

Intangible Assets, Intangibles Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2021 USD ($)
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 626
2021	2,502
2022	2,473
2023	2,410
2024	2,389
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	9,563
2021	29,388
2022	25,635
2023	21,867
2024	21,005
Leases, Acquired-in-Place [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	5,519
2021	13,215
2022	9,491
2023	6,619
2024	5,778
Leases, Acquired-in-Place, Market Adjustment
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One	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	208
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	2,710
2021	10,838
2022	10,838
2023	10,838
2024	$ 10,838

Investment In Affiliates , Narrative (Details)	Sep. 30, 2021	Dec. 31, 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, Investment Balance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 962	$ 1,204	$ 2,927	$ 1,348
Equity Method Investments	72,646		72,646		$ 59,074
RezPlot [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(789)	5	(1,745)	(1,150)
Equity Method Investments	1,302		1,302		3,047
Sungenia JV [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	432	51	1,241	198	338
Equity Method Investments	33,278		33,278		26,890	$ 11,995
Equity Method Investment, Cumulative Translation Adjustment			(1,658)		2,180
Payments to Acquire Equity Method Investments			6,805		12,377
GTSC [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	1,653	1,263	4,250	2,723	3,944
Equity Method Investment, Fair Value Adjustment			(130)		(1,608)
Equity Method Investments	34,767		34,767		25,495	$ 18,488
Equity Method Investments, Initial Fair Value Adjustment			0		317
Equity Method Investment, Cash Contributions			20,117		19,030
Proceeds from Equity Method Investment, Distribution			(14,965)		(14,676)
Origen Financial Services [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	43	54	169	134
Equity Method Investments	321		321		152
SV Lift [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	(377)	$ (169)	(988)	$ (557)
Equity Method Investments	$ 2,978		$ 2,978		$ 3,490

Consolidated Variable Interest Entities, Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investment property, net	$ 10,876,436	$ 9,715,791
Other assets, net (including $28,670 and $25,072 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	401,054	270,691
Secured debt (see Note 8) (including $49,054 and $47,706 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	3,403,436	3,489,983
Other liabilities (including $22,908 and $22,221 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	244,518	134,650
Liabilities	5,488,469	5,314,879
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	$ 19,077	$ 16,084
VIE as a Percentage of Consolidated Assets	4.70%	4.30%
VIE as a Percentage of Consolidated Liabilities		2.00%
VIE as a Percentage of Total Equity	1.00%
Assets	$ 12,583,296	$ 11,206,586
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investment property, net	567,026	453,236
Other assets, net (including $28,670 and $25,072 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	28,670	25,072
Secured debt (see Note 8) (including $49,054 and $47,706 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	49,054	47,706
Preferred OP units - mandatorily redeemable	35,249	35,249
Other liabilities (including $22,908 and $22,221 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	22,908	22,221
Liabilities	107,211	105,176
Equity Interests	37,064	32,719
Consolidated entities (including $18,527 and $16,084 for consolidated VIEs at September 30, 2021 and December 31, 2020; see Note 7)	18,527	16,084
Total Liabilities and Stockholder's Equity	162,802	153,979
Assets	$ 595,696	$ 478,308

Debt And Lines Of Credit , Schedule of debt and lines of credit (Details) - USD ($)		3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 28, 2021	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Document Period End Date		Sep. 30, 2021
Secured debt		$ 3,403,436,000				$ 3,403,436,000		$ 3,489,983,000
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)		$ 1,286,001,000				$ 1,286,001,000		$ 1,267,093,000
Debt weighted average to maturity, years						9 years 7 months 6 days		9 years 4 months 24 days
Weighted average interest rate		3.303%				3.303%		3.37%
Mortgage Term Loans		$ 3,400,000,000				$ 3,400,000,000
Line of credit and other								$ 1,197,181,000
Total debt		4,689,437,000				4,689,437,000		4,757,076,000
Gain (Loss) on Extinguishment of Debt		$ 0		$ 0		$ (8,108,000)	$ (5,209,000)
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%
Debt weighted average to maturity, years						10 years 9 months 18 days		11 years 4 months 24 days
Weighted average interest rate		3.78%				3.78%		3.751%
Preferred OP units [Member]
Debt Instrument [Line Items]
Secured debt		$ 34,663,000				$ 34,663,000
Preferred OP units - mandatorily redeemable								$ 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		$ 35,249,000
Debt instrument term						3 years
Debt weighted average to maturity, years								3 years 9 months 18 days
Weighted average interest rate		6.00%				6.00%		6.00%
Senior Unsecured NOtes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)		$ 591,252,000				$ 591,252,000		$ 0
Debt instrument term	10 years
Debt Instrument, Interest Rate, Stated Percentage	2.70%
Debt weighted average to maturity, years						9 years 9 months 18 days		0 years
Weighted average interest rate		2.70%				2.70%		0.00%
Senior Unsecured Notes1
Debt Instrument [Line Items]
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)		$ 591,300,000				$ 591,300,000
Matures December 1, 2021, 5.98 Percent Interest Rate \| Secured borrowing [Member]
Debt Instrument [Line Items]
Reduction in secured borrowing balance				$ 52,710,000		0
Interest rate				5.98%			5.98%
Gain (Loss) on Extinguishment of Debt				$ 1,930,000
Reported Value Measurement
Debt Instrument [Line Items]
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)		$ 1,286,001,000				$ 1,286,001,000		$ 1,267,093,000
Reported Value Measurement \| Secured borrowing [Member]
Debt Instrument [Line Items]
Debt weighted average to maturity, years						4 years 4 months 24 days
Weighted average interest rate		5.932%				5.932%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit and other		$ 624,837,000				$ 624,837,000
Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Debt weighted average to maturity, years						3 years 8 months 12 days		3 years 8 months 12 days
Weighted average interest rate		0.976%				0.976%		2.107%

Debt And Lines Of Credit , Narrative - Collateralized Term Loans (Details)		1 Months Ended	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 28, 2021 USD ($)	Oct. 31, 2019 USD ($)	Sep. 30, 2021 USD ($) site loans properties Rate	Mar. 31, 2021 USD ($)	Sep. 30, 2020 USD ($) loans Rate	Jun. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) site loans properties Rate	Sep. 30, 2020 USD ($) loans Rate	Dec. 31, 2020 USD ($) site Rate	Jun. 30, 2021 USD ($)	Jun. 14, 2021 USD ($)	Dec. 22, 2020 USD ($)	Apr. 25, 2017 USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt			$ 0		$ 0		$ 8,108,000	$ 5,209,000
Weighted average interest rate \| Rate			3.303%				3.303%		3.37%
Sites, Wet Slips and Dry Storage Spaces \| site			11,706				11,706		45,800
Debt weighted average to maturity, length							9 years 7 months 6 days		9 years 4 months 24 days
Total debt			$ 3,403,436,000				$ 3,403,436,000		$ 3,489,983,000
Document Period End Date			Sep. 30, 2021
Long-term Debt			$ 218,400,000				218,400,000			$ 6,200,000
Line of credit and other									1,197,181,000
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)			1,286,001,000				1,286,001,000		1,267,093,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt			589,500,000				589,500,000		40,400,000
Line of credit and other			$ 624,837,000				624,837,000
Safe Harbor \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt							$ (7,900,000)
Line of credit, borrowing capacity												$ 1,800,000,000
Collateralized Term Loan 1
Debt Instrument [Line Items]
Number Of Collateralized Term Loans \| loans			4		3		4	3
Collateralized Term Loan 2
Debt Instrument [Line Items]
Number Of Collateralized Term Loans \| loans			2		1		2	1
Collateralized Term Loan 3
Debt Instrument [Line Items]
Number Of Collateralized Term Loans \| loans			1		2		1	2
A&R Facility [Member] \| Safe Harbor \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt							$ (200,000)
Secured Debt [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%
Weighted average interest rate \| Rate			3.78%				3.78%		3.751%
Debt weighted average to maturity, length							10 years 9 months 18 days		11 years 4 months 24 days
Long-term Debt									$ 0
Secured Debt [Member] \| Collateralized Term Loan 1
Debt Instrument [Line Items]
Debt instrument, face amount									8,800,000
Secured Debt [Member] \| Collateralized Term Loan 2
Debt Instrument [Line Items]
Debt instrument, face amount									39,500,000
Secured Debt [Member] \| Collateralized Term Loan 3
Debt Instrument [Line Items]
Debt instrument, face amount									220,500,000
Secured Debt [Member] \| Matures December 1, 2021, 5.98 Percent Interest Rate
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt					$ (1,930,000)
Reduction in secured borrowing balance					$ 52,710,000		$ 0
Interest rate \| Rate					5.98%			5.98%
Long-term Debt									$ 500,000,000
Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Net book value of properties securing collateralized term loans			$ 3,200,000,000				$ 3,200,000,000
Senior Unsecured NOtes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000
Debt instrument term	10 years
Debt Instrument, Interest Rate, Stated Percentage	2.70%
Weighted average interest rate \| Rate			2.70%				2.70%		0.00%
Debt weighted average to maturity, length							9 years 9 months 18 days		0 years
Proceeds from Issuance of Debt	$ 592,400,000
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)			$ 591,252,000				$ 591,252,000		$ 0
Term Loan [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument term		4 years
Line of credit, borrowing capacity			500,000,000				500,000,000				$ 1,000,000,000
Line of credit and other		$ 58,000,000	$ 35,300,000				$ 35,300,000		$ 45,000,000		$ 2,000,000,000
Term Loan [Member] \| Revolving Credit Facility [Member] \| Eurodollar [Member]
Debt Instrument [Line Items]
Basis points							0.85%
Term Loan [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis points							0.725%
Term Loan [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis points							1.40%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity, Incremental													$ 750,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate \| Rate			0.976%				0.976%		2.107%
Debt weighted average to maturity, length							3 years 8 months 12 days		3 years 8 months 12 days
Long-term Debt									$ 652,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Eurodollar [Member]
Debt Instrument [Line Items]
Line of credit variable interest rate \| Rate			0.95%				0.95%
Line of Credit [Member] \| Term Loan [Member] \| Minimum [Member] \| Eurodollar [Member]
Debt Instrument [Line Items]
Interest rate \| Rate									1.20%
Basis points							0.80%
Line of Credit [Member] \| Term Loan [Member] \| Maximum [Member] \| Eurodollar [Member]
Debt Instrument [Line Items]
Interest rate \| Rate			2.05%				2.05%
Basis points							1.60%
Senior Unsecured Notes1
Debt Instrument [Line Items]
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)			$ 591,300,000				$ 591,300,000
Line of credit - manufactured home floor plan facility [Member]
Debt Instrument [Line Items]
Line of credit, borrowing capacity				$ 12,000,000
Line of Credit, Current			$ 0				$ 0		$ 4,800,000
Properties securing debt [Member] \| Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Sites, Wet Slips and Dry Storage Spaces \| site			76,436				76,436
Debt Instrument, number of properties securing a debt instument \| properties			192				192

Debt And Lines Of Credit , Narrative - Aspen Preferred OP Units and Series B-3 preferred OP units (Details)	1 Months Ended	3 Months Ended					9 Months Ended
	Jun. 30, 2018	Sep. 30, 2021 USD ($)	Mar. 31, 2021 shares $ / shares Rate	Sep. 30, 2020 USD ($) Rate	Jun. 30, 2020 USD ($) Rate	Mar. 31, 2020	Sep. 30, 2021 USD ($) shares	Sep. 30, 2020 USD ($) Rate	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	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%
Gain (Loss) on Extinguishment of Debt		$ 0		$ 0			$ (8,108,000)	$ (5,209,000)
Preferred Equity, Mandatorily Redeemable [Member]
Debt Instrument [Line Items]
Financial Instruments Subject to Mandatory Redemption, Value of Shares Issued									$ 33,400,000	$ 35,300,000
Preferred OP units - mandatorily redeemable		35,249,000					35,249,000		35,249,000
Temporary Equity, Term						7 years
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									34,663,000
Preferred OP units [Member] \| Convertible debt - Aspen Preferred OP Units January 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 34,700,000					$ 34,700,000		34,700,000
Convertible units to shares (in shares) \| shares							388,056
Debt Instrument, Interest Rate During Period \| Rate			3.80%
Debt Instrument, Convertible, Conversion Price \| $ / shares			$ 27.00								$ 68.00
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
Secured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, face amount					$ 230,000,000				$ 268,800,000
Secured Debt [Member] \| Matures December 1, 2021, 5.98 Percent Interest Rate
Debt Instrument [Line Items]
Reduction in secured borrowing balance				$ 52,710,000			$ 0
Interest rate \| Rate				5.98%				5.98%
Gain (Loss) on Extinguishment of Debt				$ 1,930,000
Secured Debt [Member] \| Matures March 1, 2021, 5.837 Percent Interest Rate [Member] [Domain] [Domain]
Debt Instrument [Line Items]
Reduction in secured borrowing balance					$ 99,607,000
Interest rate \| Rate					5.837%
Gain (Loss) on Extinguishment of Debt					$ 3,403,000
Secured Debt [Member] \| Matures July 1, 2020, 5.86 Percent Interest Rate [Member] [Domain]
Debt Instrument [Line Items]
Reduction in secured borrowing balance					$ 19,922,000
Interest rate \| Rate					5.83%
Gain (Loss) on Extinguishment of Debt					$ (124,000)

Debt And Lines Of Credit , Narrative - Line of Credit (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2021 USD ($)	Mar. 31, 2021 USD ($) shares $ / shares Rate	Sep. 30, 2021 USD ($) shares Rate	Dec. 31, 2020 USD ($) Rate	Jun. 30, 2021 USD ($)	Jun. 30, 2021 AUD ($)	Jun. 14, 2021 USD ($)	Dec. 22, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Oct. 31, 2019 USD ($)	Apr. 25, 2017 USD ($)	Dec. 31, 2015 $ / shares
Line of Credit Facility [Line Items]
Long-term Debt			$ 218,400,000		$ 6,200,000
Lines of credit				$ 1,197,181,000
Weighted average interest rate \| Rate			3.303%	3.37%
Debt weighted average to maturity, length			9 years 7 months 6 days	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			$ 0	$ 300,000
Line of Credit [Member]
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount			3,200,000	$ 2,400,000
Line of Credit Facility, Maximum Borrowing Capacity, Incremental												$ 750,000,000
Line of Credit Facility, Maximum Borrowing Capacity, Incremental												$ 750,000,000
Line of credit - manufactured home floor plan facility [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity		$ 12,000,000
Preferred OP units [Member]
Line of Credit Facility [Line Items]
Weighted average interest rate \| Rate				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		$ 27.00											$ 68.00
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			388,056
Secured Debt [Member]
Line of Credit Facility [Line Items]
Long-term Debt				0
Debt instrument, face amount				$ 268,800,000						$ 230,000,000
Debt Instrument, Interest Rate, Stated Percentage				2.662%						2.995%
Weighted average interest rate \| Rate			3.78%	3.751%
Debt weighted average to maturity, length			10 years 9 months 18 days	11 years 4 months 24 days
Prime Rate [Member] \| Line of credit - manufactured home floor plan facility [Member]
Line of Credit Facility [Line Items]
Basis points		1.00%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term Debt			$ 589,500,000	$ 40,400,000
Lines of credit			$ 624,837,000
Revolving Credit Facility [Member] \| Safe Harbor
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity								$ 1,800,000,000
Revolving Credit Facility [Member] \| Line of Credit [Member]
Line of Credit Facility [Line Items]
Long-term Debt				$ 652,000,000
Weighted average interest rate \| Rate			0.976%	2.107%
Debt weighted average to maturity, length			3 years 8 months 12 days	3 years 8 months 12 days
Revolving Credit Facility [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity			$ 500,000,000				$ 1,000,000,000
Lines of credit			$ 35,300,000	$ 45,000,000			$ 2,000,000,000				$ 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			0.95%
Revolving Credit Facility [Member] \| Eurodollar [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Basis points			0.85%
Minimum [Member] \| Revolving Credit Facility [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Basis points			0.725%
Minimum [Member] \| Term Loan [Member] \| Eurodollar [Member] \| Line of Credit [Member]
Line of Credit Facility [Line Items]
Interest rate \| Rate				1.20%
Basis points			0.80%
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] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Basis points			1.40%
Maximum [Member] \| Term Loan [Member] \| Eurodollar [Member] \| Line of Credit [Member]
Line of Credit Facility [Line Items]
Interest rate \| Rate			2.05%
Basis points			1.60%
GTSC [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity				$ 180,000,000					$ 125,000,000
Long-term Debt			$ 87,300,000	$ 67,100,000
Ownership percentage			40.00%	40.00%
Line of Credit Facility, Increase (Decrease), Net	$ 230,000,000		$ 255,000,000
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			$ 7,600,000	$ 2,000,000
Sungenia JV [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity					19,500,000	$ 27.0
Long-term Debt					$ 3,100,000
Ownership percentage			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, Narrative (Details) $ / shares in Units, $ in Thousands					1 Months Ended											2 Months Ended	3 Months Ended						9 Months Ended		12 Months Ended	15 Months Ended
	Oct. 05, 2021 USD ($)	Jun. 04, 2021 USD ($)	Apr. 05, 2021 $ / shares shares	Mar. 02, 2021 USD ($) $ / shares shares	Jul. 31, 2021 USD ($)	Apr. 30, 2021 $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Oct. 31, 2020 USD ($) $ / shares shares	Sep. 30, 2020 $ / shares shares	May 31, 2020 USD ($) shares	Feb. 28, 2020	Jan. 31, 2020	Aug. 31, 2019 USD ($)	Feb. 28, 2019 $ / shares Rate shares	Jun. 30, 2018 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) $ / shares Rate shares	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2020 USD ($) shares	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 shares	Dec. 31, 2020 USD ($) $ / shares shares	Sep. 30, 2018 USD ($)	Oct. 01, 2020 salesAgreement
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			200,000,000	8,050,000					9,200,000	4,968,000
Sale of Stock, Price Per Share \| $ / shares				$ 140.00													$ 139.50						$ 139.50
Proceeds from Issuance of Common Stock \| $				$ 537,600						$ 633,100						$ 539,700
Variable Interest Entity, Equity Interests Issued \| $													$ 2,400							$ (67)
Issuance of common stock and common OP units, net \| $				$ 1,100,000																$ (1,622)			$ 21,400			$ 163,800
Aggregate Value of Shares to be Issued in Accordance to Sales Agreement \| $		$ 500,000
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
Common Stock, Par Value \| $ / shares			$ 0.01				$ 0.01										$ 0.01						$ 0.01		$ 0.01
Preferred Stock, Par or Stated Value Per Share \| $ / shares			$ 0.01
Common Stock, Shares Issued							107,626,000										115,959,000						115,959,000		107,626,000
Common Stock, Shares Outstanding							107,626,000										115,959,000						115,959,000		107,626,000
Number Of Forward Sales Agreements \| salesAgreement																											2
Shares Issued Under New Sales Agreement																							107,400
Share Issuance Prior To New Sales Agreement																							0
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						90,000
Temporary Equity, Issuance Price \| $ / shares																	$ 100.00
Temporary Equity, Dividends For Term Two, Percentage \| Rate																	5.50%
Shares outstanding (in shares)							90,000										90,000						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												145.00
Series E Preferred OP Units \| Minimum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion												100.00
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														$ 100.00
Temporary Equity, Dividends For Term Two, Percentage \| Rate														4.00%
Shares outstanding (in shares)																	488,958						488,958
Series D Preferred OP Units \| Maximum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion											160.00			125.00
Series D Preferred OP Units \| Minimum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion														100.00
Common Stock
Class of Stock [Line Items]
Dividends per common share \| $ / shares																							$ 0.83
Payments of dividends \| $																							$ 98,344
Series F Preferred OP Units
Class of Stock [Line Items]
Series A-4 Preferred Stock, Shares Issued										90,000
Temporary Equity, Issuance Price \| $ / shares									$ 100.00
Shares outstanding (in shares)							90,000										90,000						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											100.00
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								240,710			260,710			240,710	260,710	240,710
Series G Preferred OP Units \| Maximum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion												155.00
Series G Preferred OP Units \| Minimum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion												100.00
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									581,407						581,407		581,407
Temporary Equity, Issuance Price \| $ / shares								$ 100.00
Series H Preferred OP Units \| Maximum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion								164.00
Series H Preferred OP Units \| Minimum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion								100.00
Series J Preferred Op Units
Class of Stock [Line Items]
Temporary Equity, Dividends For Term One, Percentage						2.85%
Series A-4 Preferred Stock, Shares Issued						240,000											240,000						240,000
Temporary Equity, Issuance Price \| $ / shares						$ 100.00
Shares outstanding (in shares)																	240,000						240,000
Series J Preferred Op Units \| Maximum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion						165.00
Series J Preferred Op Units \| Minimum [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion						100.00
Shelf Registration
Class of Stock [Line Items]
Common Stock, Shares Issued																	115,959,116						115,959,116
Common Stock, Shares Outstanding																	115,959,116						115,959,116
Preferred Stock, Shares Issued																	0						0
Preferred Stock, Shares Outstanding																	0						0
Common Stock
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			180,000,000
Issuance of common stock and common OP units, net \| $																		$ 40	$ 42		$ 49	$ 1
Conversion of Common OP Units
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)																							78,724	29,886
Conversion of Common OP Units \| Common OP Units
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)																							78,724	29,886
Series A-1 Preferred OP Units
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)																							47,058	25,884
Series A-1 Preferred OP Units \| Common OP Units
Class of Stock [Line Items]
Conversion of Common OP Units to common stock (in shares)																							19,296	10,614
Preferred Stock
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			20,000,000
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								$ 26,300		$ 23,300
NG Sun Whitewater [Member]
Class of Stock [Line Items]
Variable Interest Entity, Equity Interest \| $							$ 5,100										$ 5,000						5,000		$ 5,100
Sun Menifee
Class of Stock [Line Items]
Payments to Acquire Limited Partnership Interests \| $								$ 100
Noncontrolling Interest in Limited Partnerships \| $																	100						$ 100
Sun Solar JV
Class of Stock [Line Items]
Variable Interest Entity, Equity Interests Issued \| $					$ 5,800
Payments to Acquire Limited Partnership Interests \| $					$ 1,800												$ 1,600
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, Conversion of Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended					3 Months Ended	9 Months Ended
	Sep. 30, 2020 $ / shares	May 31, 2020 shares	Feb. 28, 2020	Jan. 31, 2020 $ / shares	Feb. 28, 2019 $ / shares Rate shares	Sep. 30, 2021 USD ($) $ / shares Rate shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2020 shares	Dec. 31, 2020 shares	Oct. 31, 2020 USD ($)
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	$ 4.1			$ 4.3
Conversion of Common OP Units
Conversion of Stock [Line Items]
Conversion of units							78,724	29,886
Series A-1 Preferred OP Units
Conversion of Stock [Line Items]
Conversion of units							47,058	25,884
Series C preferred OP unit
Conversion of Stock [Line Items]
Conversion of units							0	1,648
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					$ 100.00
Temporary Equity, Dividends For Term One, Percentage					3.75%
Temporary Equity, Shares Outstanding						488,958	488,958
Series D Preferred OP Units \| Minimum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion					100.00
Series D Preferred OP Units \| Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion			160.00		125.00
Common OP Units \| Conversion of Common OP Units
Conversion of Stock [Line Items]
Conversion Rate							1.0000
Conversion of units							78,724	29,886
Common OP Units \| Series A-1 Preferred OP Units
Conversion of Stock [Line Items]
Conversion Rate							2.4390
Conversion of units							19,296	10,614
Preferred Stock \| Series C preferred OP unit
Conversion of Stock [Line Items]
Conversion Rate							1.1100
Conversion of units							0	1,485
Series I Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Shares Issued									922,000
Temporary Equity, Issuance Price \| $ / shares				$ 100.00
Temporary Equity, Dividends For Term One, Percentage				3.00%
Temporary Equity, Shares Outstanding						922,000	922,000
Series I Preferred OP Units \| Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion				164.00
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	90,000
Temporary Equity, Issuance Price \| $ / shares						$ 100.00
Temporary Equity, Dividends For Term One, Percentage						5.25%
Temporary Equity, Shares Outstanding						90,000	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				100.00
Series E Preferred OP Units \| Maximum [Member]
Conversion of Stock [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion				145.00
Series F Preferred OP Units
Conversion of Stock [Line Items]
Temporary Equity, Shares Issued		90,000
Temporary Equity, Issuance Price \| $ / shares	$ 100.00
Temporary Equity, Shares Outstanding						90,000	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			100.00

Share-Based Compensation (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021 numberOfPlans $ / shares shares	Sep. 30, 2020	Sep. 30, 2021 USD ($) numberOfPlans $ / shares shares	Sep. 30, 2020 $ / shares shares	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		2
Share-based Compensation Arrangement By Share-based Payment Award, Fair Value Assumptions, Percent Expected To Vest	62.10%	65.50%	57.60%	75.60%
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			288,024	256,380
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercises in period				0
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			1,500
Proceeds from Stock Options Exercised \| $			$ 0.1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0		0
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		$ 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%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			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%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 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			$ 94.32
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			$ 87.49
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 Reporting, Seasonality (Details) $ in Thousands		3 Months Ended				9 Months Ended
	Jan. 01, 2021 segment	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020 USD ($)	Sep. 30, 2020	Sep. 30, 2021 USD ($) segment
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2					3
Assets				$ 11,206,586		$ 12,583,296
Goodwill				$ 428,833		461,609
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				$ 5,353,492		5,531,553
Goodwill				0		0
Marina Sale Segment
Segment Reporting Information [Line Items]
Assets				2,622,448		3,470,547
Goodwill				$ 428,833		$ 461,609

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Segment Reporting Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenue From Home Sales	$ 684,294	$ 400,514	$ 1,730,172	$ 1,014,082
Brokerage commissions and other, net	8,841	5,881	21,740	13,068
General and administrative expense	(43,276)	(26,834)	(126,606)	(78,710)
Catastrophic weather related charges	(328)	(14)	(3,097)	(54)
Gain (Loss) on Extinguishment of Debt	0	0	(8,108)	(5,209)
Interest on mandatorily redeemable preferred OP units / equity	(1,047)	(1,047)	(3,124)	(3,130)
Remeasurement Of Marketable Securities	12,072	1,492	43,227	(2,636)
Gain / (loss) on foreign currency translation	(7,028)	5,023	(7,107)	(2,496)
Gain on dispositions of properties	108,104	5,595	108,104	5,595
Other expense, net	(9,372)	(3,511)	(10,041)	(4,890)
Loss on Remeasurement of Notes Receivable	92	(445)	561	(2,311)
Distributions from Affiliate	962	1,204	2,927	1,348
Loss on Remeasurement of Investment	(119)	(446)	(130)	(1,505)
Deferred Income Tax Expense (Benefit)	(1,155)	562	(1,074)	(804)
Net Income	250,161	89,756	398,951	137,633
Less: Preferred return to Series A-1 preferred OP units	3,101	1,645	9,000	4,799
Less: Amounts attributable to noncontrolling interests			22,629	8,806
Net Income Attributable to Sun Communities, Inc. Common Stockholders	231,770	81,204	367,322	124,028
RV
Segment Reporting Information [Line Items]
Revenue From Home Sales	239,188	166,071	505,173	332,769
MH
Segment Reporting Information [Line Items]
Revenue From Home Sales	281,417	234,443	809,421	681,313
Marinas
Segment Reporting Information [Line Items]
Revenue From Home Sales	163,689		415,578
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue From Home Sales	672,763	392,009	1,700,392	993,405
Property operating expenses	326,519	173,731	830,012	429,282
Operating Income (Loss), Total	346,244	218,278	870,380	564,123
Operating Segments [Member] \| Home Sales and Home Rentals Segment [Member]
Segment Reporting Information [Line Items]
Revenue From Home Sales		162,640		325,015
Property operating expenses		78,381		165,430
Operating Segments [Member] \| RV
Segment Reporting Information [Line Items]
Revenue From Home Sales	233,844		492,464
Property operating expenses	109,219		247,284
Operating Income (Loss), Total	124,625	84,259	245,180	159,585
Operating Segments [Member] \| MH
Segment Reporting Information [Line Items]
Revenue From Home Sales	275,597	229,369	793,286	668,390
Property operating expenses	118,441	95,350	326,758	263,852
Operating Income (Loss), Total	157,156	134,019	466,528	404,538
Operating Segments [Member] \| Marinas
Segment Reporting Information [Line Items]
Revenue From Home Sales	163,322		414,642
Property operating expenses	98,859		255,970
Operating Income (Loss), Total	64,463		158,672
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest income	2,690	2,624	8,040	7,609
Brokerage commissions and other, net	8,841	5,881	21,740	13,068
General and administrative expense	(43,276)	(26,834)	(126,606)	(78,710)
Catastrophic weather related charges	(328)	(14)	(3,097)	(54)
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized			(1,031)	0
Depreciation and amortization	(127,091)	(88,499)	(378,068)	(259,453)
Gain (Loss) on Extinguishment of Debt			(8,108)	(5,209)
Interest expense	(39,026)	(30,214)	(116,224)	(94,058)
Interest on mandatorily redeemable preferred OP units / equity	(1,047)	(1,047)	(3,124)	(3,130)
Remeasurement Of Marketable Securities	12,072	1,492	43,227	(2,636)
Gain / (loss) on foreign currency translation	(7,028)	5,023	(7,107)	(2,496)
Gain on dispositions of properties	108,104	5,595	108,104	5,595
Other expense, net	(9,372)	(3,511)	(10,041)	(4,890)
Loss on Remeasurement of Notes Receivable	92	(445)	561	(2,311)
Distributions from Affiliate	962	1,204	2,927	1,348
Loss on Remeasurement of Investment	(119)	(446)	(130)	(1,505)
Current tax benefit / (expense) (see Note 12)	(402)	107	(1,418)	(462)
Deferred Income Tax Expense (Benefit)	(1,155)	562	(1,074)	804
Net Income	250,161	89,756	398,951	137,633
Less: Preferred return to Series A-1 preferred OP units	3,101	1,645
Less: Amounts attributable to noncontrolling interests	15,290	6,907
Net Income Attributable to Sun Communities, Inc. Common Stockholders	$ 231,770	$ 81,204	$ 367,322	$ 124,028

Segment Reporting Identifiable Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	$ 10,876,436	$ 9,715,791
Cash, cash equivalents and restricted cash	85,619	92,641	$ 115,529	$ 34,830
Marketable securities (see Note 14)	160,321	124,726
Inventory of manufactured homes	43,708	46,643
Notes and other receivables, net	256,924	221,650
Goodwill	461,609	428,833
Secured receivables, net	297,625	305,611
Other assets	401,054	270,691
Total Assets	12,583,296	11,206,586
Real Property Operations Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	4,983,329	4,823,174
Cash, cash equivalents and restricted cash	38,538	53,152
Marketable securities (see Note 14)	103,829	80,776
Inventory of manufactured homes	36,526	33,448
Notes and other receivables, net	160,593	144,027
Goodwill	0	0
Secured receivables, net	30,247	33,998
Other assets	178,491	184,917
Total Assets	5,531,553	5,353,492
Home Sales and Home Rentals Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	3,373,068	3,038,686
Cash, cash equivalents and restricted cash	20,968	28,919
Marketable securities (see Note 14)	56,492	43,950
Inventory of manufactured homes	7,182	13,195
Notes and other receivables, net	58,750	44,002
Goodwill	0	0
Secured receivables, net	23,854	23,819
Other assets	40,882	38,075
Total Assets	3,581,196	3,230,646
Marina Sale Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Investment property, net	2,520,039	1,853,931
Cash, cash equivalents and restricted cash	26,113	10,570
Marketable securities (see Note 14)	0	0
Inventory of manufactured homes	0	0
Notes and other receivables, net	37,581	33,621
Goodwill	461,609	428,833
Secured receivables, net	243,524	247,794
Other assets	181,681	47,699
Total Assets	$ 3,470,547	$ 2,622,448

Income Taxes , Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes , Narrative (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 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	$ 0	$ 0
Provision for state income taxes	400,000	100,000	1,400,000	500,000
Deferred Income Tax Expense (Benefit)	(1,155,000)	$ 562,000	(1,074,000)	(804,000)
Deferred Income Tax Charge
Operating Loss Carryforwards [Line Items]
Deferred Income Tax Expense (Benefit)				$ (800,000)
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Liabilities, Gross	21,500,000		21,500,000		$ 20,500,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Liabilities, Gross	$ 100,000		$ 100,000		$ 100,000

Earnings Per Share , Calculation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator
Net Income Attributable to Sun Communities, Inc. Common Stockholders	$ 231,770	$ 81,204	$ 367,322	$ 124,028
Less: allocation to restricted stock awards	1,508	536	2,352	821
Basic earnings - Net Income attributable to common stockholders after allocation to restricted stock awards	230,262	80,668	364,970	123,207
Dilutive Securities, Effect on Basic Earnings Per Share, Common Equity	5,641	0	8,269	0
Diluted earnings - Net income attributable to common stockholders after allocation to restricted stock awards	$ 235,903	$ 80,668	$ 373,239	$ 123,207
Denominator
Weighted average common shares outstanding	115,136,000	97,542,000	111,717,000	95,270,000
Add: common shares dilutive effect: Forward Equity Offering	0	6,000	0	2,000
Add: dilutive stock options	0	1,000	0	1,000
Incremental Common Shares Attributable to Dilutive Effect of Common Equity	2,936,000	0	2,574,000	0
Diluted weighted average common shares and securities	118,072,000	97,549,000	114,291,000	95,273,000
Earnings Per Share, Basic	$ 2.00	$ 0.83	$ 3.27	$ 1.29
Earnings Per Share, Diluted	$ 2.00	$ 0.83	$ 3.27	$ 1.29

Earnings Per Share , Antidilutive Securities Excluded from Computation of Loss Per Share (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,558	5,335
Common OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0	2,473
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	275	299
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	489	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	40	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	306	309
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	1,284	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	90	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	90	90
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	241	261
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	581	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	922	0
Series J Preferred Op Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	240	0

Fair Value of Financial Instruments , By Balance Sheet Grouping (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Sep. 30, 2020	Dec. 31, 2019
Financial assets
Notes and other receivables, net	$ 256,924	$ 256,924	$ 221,650
Secured receivables, net	297,625	297,625	305,611
Notes Receivable, Fair Value Disclosure	64,593	64,593	52,638
Financial liabilities
Secured debt	3,403,436	3,403,436	3,489,983
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,286,001	1,286,001	1,267,093
Cash, cash equivalents and restricted cash	85,619	85,619	92,641		$ 115,529	$ 34,830
Fair Value, Inputs, Level 1
Financial assets
Notes Receivable, Fair Value Disclosure	0	0	0
Fair Value, Inputs, Level 2
Financial assets
Notes Receivable, Fair Value Disclosure	0	0	52,638
Fair Value, Inputs, Level 3
Financial assets
Notes Receivable, Fair Value Disclosure	64,593	64,593	0
Installment notes receivable on manufactured homes, net
Financial assets
Notes and other receivables, net	81,001	81,001	85,866
Installment notes receivable on manufactured homes, net \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	81,001	81,001	0	$ 82,506
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	0	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	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	91	560
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	3,299	7,232
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	(3,405)	(11,209)
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	428	470
Installment notes receivable on manufactured homes, net \| Fair Value, Recurring \| Fair Value, Inputs, Level 3 \| Disposition of properties
Financial liabilities
Servicing Asset at Fair Value, Other Changes in Fair Value	(1,918)	(1,918)
Notes Receivable from Real Estate Developers \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	64,593	64,593	0	61,955
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	0	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	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	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	3,383	14,523
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	(542)	(1,135)
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	(203)	(1,433)
Other Contingent Liabilities, Contingent Consideration \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Financial liabilities
Assets, Fair Value Disclosure	38,970	38,970	15,842	$ 18,101
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	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	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	9,196	9,339
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	11,893	15,332
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	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	(220)	(1,543)
Reported Value Measurement
Financial liabilities
Debt (excluding secured borrowings)	3,403,436	3,403,436	3,489,983
Senior Notes	591,252	591,252
Lines of credit	694,749	694,749	1,267,093
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,286,001	1,286,001	1,267,093
Other financial liabilities (contingent consideration)	38,970	38,970	15,842
Financial Liabilities Fair Value Disclosure	4,728,407	4,728,407	4,772,918
Reported Value Measurement \| Fair Value, Recurring
Financial liabilities
Assets, Fair Value Disclosure	391,534	391,534	355,871
Reported Value Measurement \| Installment notes receivable on manufactured homes, net \| Fair Value, Recurring
Financial assets
Notes and other receivables, net	81,001	81,001	85,866
Estimate of Fair Value Measurement \| Fair Value, Recurring
Financial liabilities
Debt (excluding secured borrowings)	3,434,376	3,434,376	3,588,901
Senior Notes	606,352	606,352
Lines of credit	694,749	694,749	1,267,093
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,301,101	1,301,101	1,267,093
Other financial liabilities (contingent consideration)	38,970	38,970	15,842
Financial Liabilities Fair Value Disclosure	4,774,447	4,774,447	4,871,836
Assets, Fair Value Disclosure	391,534	391,534	355,871
Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Financial liabilities
Debt (excluding secured borrowings)	0	0	0
Senior Notes	0	0
Lines of credit	0	0	0
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	0	0	0
Other financial liabilities (contingent consideration)	0	0	0
Financial Liabilities Fair Value Disclosure	0	0	0
Assets, Fair Value Disclosure	245,940	245,940	217,367
Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Financial liabilities
Debt (excluding secured borrowings)	3,403,436	3,403,436	3,489,983
Senior Notes	591,252	591,252
Lines of credit	694,749	694,749	1,267,093
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	1,286,001	1,286,001	1,267,093
Other financial liabilities (contingent consideration)	0	0	0
Financial Liabilities Fair Value Disclosure	4,689,437	4,689,437	4,757,076
Assets, Fair Value Disclosure	0	0	138,504
Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Financial liabilities
Debt (excluding secured borrowings)	0	0	0
Senior Notes	0	0
Lines of credit	0	0	0
Unsecured debt (see Note 8) (including $35,249 and $35,249 for consolidated VIE at September 30, 2021 and December 31, 2020; see Note 7)	0	0	0
Other financial liabilities (contingent consideration)	38,970	38,970	15,842
Financial Liabilities Fair Value Disclosure	38,970	38,970	15,842
Assets, Fair Value Disclosure	145,594	145,594	0
Estimate of Fair Value Measurement \| Installment notes receivable on manufactured homes, net \| Fair Value, Recurring
Financial assets
Notes and other receivables, net	81,001	81,001	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	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	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	81,001	81,001	0
Marketable Securities [Member] \| Fair Value, Recurring
Financial assets
Marketable securities	160,321	160,321	124,725			$ 94,727
Financial liabilities
Investment, Fair Value Adjustment		43,202	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	160,321	160,321	124,726
Financial liabilities
Cash, cash equivalents and restricted cash	85,619	85,619	92,641
Marketable Securities [Member] \| Estimate of Fair Value Measurement \| Fair Value, Recurring
Financial assets
Marketable securities	160,321	160,321	124,726
Financial liabilities
Cash, cash equivalents and restricted cash	85,619	85,619	92,641
Marketable Securities [Member] \| Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Financial assets
Marketable securities	160,321	160,321	124,726
Financial liabilities
Cash, cash equivalents and restricted cash	85,619	85,619	92,641
Marketable Securities [Member] \| Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Financial assets
Marketable securities	0	0	0
Financial liabilities
Cash, cash equivalents and restricted cash	0	0	0
Marketable Securities [Member] \| Estimate of Fair Value Measurement \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Financial assets
Marketable securities	0	0	0
Financial liabilities
Cash, cash equivalents and restricted cash	$ 0	$ 0	$ 0

Fair Value of Financial Instruments Marketable Securities (Details) - Marketable Securities [Member] - Fair Value, Recurring - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 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	160,321	124,725
Investment, Fair Value Adjustment	43,202	6,132
Investment, Foreign Current Translation Adjustment	(10,052)	10,138
Stock Issued During Period, Value, Dividend Reinvestment Plan	$ 2,446	$ 1,971

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessor, Operating Lease, Payment to be Received, Year One	$ 5,099
Lessor, Operating Lease, Payment to be Received, Year Two	16,949
Lessor, Operating Lease, Payment to be Received, Year Three	14,141
Lessor, Operating Lease, Payment to be Received, Year Four	8,844
Lessor, Operating Lease, Payment to be Received, Year Five	4,976
Lessor, Operating Lease, Payment to be Received, after Year Five	5,804
Lessor, Operating Lease, Payments to be Received	55,813
Operating And Finance Leases, Liability, Payments, Due Year Two	9,280
Operating And Finance Leases, Liability, Payments, Due Year Three	9,201
Operating And Finance Leases, Liability, Payments, Due Year Four	13,417
Operating And Finance Leases, Liability, Payments, Due Year Five	9,320
Operating And Finance Leases, Liability, Payments, Due after Year Five	179,497
Operating And Finance Leases, Liability, Payments, Remainder of Fiscal Year	2,507
Operating And Finance Leases, Liability, Payment, Due	223,222
Operating And Finance Leases, Liability, Undiscounted Excess Amount	(101,814)
Operating And Finance Leases, Liability	121,408
2021 (Excluding nine months ended September 30, 2021)	2,381
2020	9,057
2021	9,003
2022	9,347
2023	9,320
Thereafter	179,497
Total Lease Payments	218,605
Less: Imputed interest	(101,530)
Present Value of Lease Liabilities	117,075	$ 49,964
2021 (Excluding nine months ended September 30, 2021)	126
2020	223
2021	198
2022	4,070
2023	0
Thereafter	0
Total Lease Payments	4,617
Less: Imputed interest	(284)
Present Value of Lease Liabilities	$ 4,333	$ 4,334

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease liability	$ 117,075		$ 117,075		$ 49,964
Finance lease liability	4,333		4,333		$ 4,334
Lease Income	5,293	$ 312	14,346	$ 934
Variable Lease, Income	$ 1,284	$ 399	$ 3,554	$ 1,195
Percent of Operating Leases Where Company is the Lessor	95.00%		95.00%

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Interest on lease liabilities	$ 27	$ 26	$ 79	$ 77
Operating lease cost	2,771	973	7,223	2,925
Total lease expense	4,741	1,430	12,501	4,222
Operating cash flow used for operating leases			4,512	1,836
Financing cash flow used for finance leases			125	23
Right of use asset obtained (land) in exchange for new finance lease liabilities			4,452		$ 4,350
Right of use asset obtained in exchange for new operating lease liabilities			126,756		48,419
Amortization of above and below Market Leases	$ 72,249		$ 72,249		27,614
Weighted - average remaining lease term - finance leases (in years)	2 years 8 months 19 days		2 years 8 months 19 days
Weighted - average remaining lease term - operating leases (in years)	34 years 6 months 14 days		34 years 6 months 14 days
Weighted - average discount rate - finance leases (annual)	2.45%		2.45%
Weighted - average discount rate - operating leases (annual)	3.84%		3.84%
Present Value of Lease Liabilities	$ 4,333		$ 4,333		4,334
Present Value of Lease Liabilities	117,075		117,075		$ 49,964
Operating And Finance Lease, Payments			4,637	1,859
Below Market Leases
Lessee, Lease, Description [Line Items]
Variable lease expense	1,886	431	5,004	1,220
Short-term Lease, Cost	$ 57	$ 0	$ 195	$ 0

Subsequent Event (Details)					1 Months Ended	6 Months Ended	9 Months Ended
Subsequent Event (Details)	Oct. 19, 2021 USD ($)	Oct. 05, 2021 USD ($)	Oct. 01, 2021 USD ($) development_site	Jun. 28, 2021 USD ($)	Apr. 30, 2021 $ / shares	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) site development_site	Sep. 30, 2020 USD ($)	Dec. 31, 2020 site development_site	Jul. 01, 2020 USD ($)
Subsequent Event [Line Items]
Cash paid for RV community acquired						$ 1,923,855,000	$ 1,071,721,000
Sites, Wet Slips and Dry Storage Spaces \| site							11,706		45,800
Total consideration						$ 3,001,343,000	$ 1,095,721,000
Development Sites \| development_site							747		109
Payments to Acquire Land							$ 7,700,000	$ 9,700,000
Series J Preferred Op Units
Subsequent Event [Line Items]
Temporary Equity, Issuance Price \| $ / shares					$ 100.00
Temporary Equity, Dividends For Term One, Percentage					2.85%
Series J Preferred Op Units \| Maximum [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion					165.00
Series J Preferred Op Units \| Minimum [Member]
Subsequent Event [Line Items]
Convertible Preferred Stock, Shares Issued Per Share Upon Conversion					100.00
Senior Unsecured NOtes
Subsequent Event [Line Items]
Debt instrument, face amount				$ 600,000,000
Debt Instrument, Interest Rate, Stated Percentage				2.70%
Debt instrument term				10 years
Proceeds from Issuance of Debt				$ 592,400,000
Subsequent Event [Member] \| Beaver Brook Campground
Subsequent Event [Line Items]
Sites, Wet Slips and Dry Storage Spaces \| development_site			204
Total consideration			$ 4,500,000
Subsequent Event [Member] \| Land
Subsequent Event [Line Items]
Payments to Acquire Land	$ 7,500,000
Subsequent Event [Member] \| Senior Unsecured NOtes
Subsequent Event [Line Items]
Debt instrument, face amount		$ 450,000,000
Debt Instrument, Interest Rate, Stated Percentage		2.30%
Debt instrument term		7 years
Proceeds from Issuance of Debt		$ 595,500,000
Subsequent Event [Member] \| Senior Unsecured Notes1
Subsequent Event [Line Items]
Debt instrument, face amount		$ 150,000,000
Debt Instrument, Interest Rate, Stated Percentage		2.70%
Debt instrument term		10 years
Countryside Village
Subsequent Event [Line Items]
Consideration received										$ 12,600,000
Cherrystone Family Camping
Subsequent Event [Line Items]
Cash paid for RV community acquired							$ 57,871,000
Sites, Wet Slips and Dry Storage Spaces \| site							669
Total consideration							$ 57,871,000
Development Sites \| development_site							0
Beaver Brook Campground \| Subsequent Event [Member]
Subsequent Event [Line Items]
Development Sites \| development_site			150