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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities:    
Consolidated net income $ 207,160 $ 173,045
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Loss on sale of real estate, net 59 0
Early debt retirement 2,784 10,786
Depreciation and amortization 140,336 117,870
Amortization of loan costs 3,505 2,636
Debt premium amortization (243) (304)
Equity in income of unconsolidated joint ventures (2,786) (2,239)
Distributions of income from unconsolidated joint ventures 52 84
Proceeds from insurance claims, net 589 (1,453)
Compensation expense related to incentive plans 9,434 9,659
Revenue recognized from membership upgrade sales upfront payments (8,208) (7,143)
Commission expense recognized related to membership sales 2,843 2,774
Changes in assets and liabilities:    
Notes receivable, net (4,129) (1,460)
Deferred commission expense (7,119) (3,844)
Other assets, net 24,616 21,663
Accounts payable and other liabilities 47,520 22,029
Deferred membership revenue 30,738 17,958
Rents and other customer payments received in advance and security deposits 6,456 (1,193)
Net cash provided by operating activities 453,607 360,868
Cash Flows From Investing Activities:    
Real estate acquisitions, net (477,785) (8,871)
Proceeds from disposition of properties, net (7) 0
Investment in unconsolidated joint ventures (493) 0
Distributions of capital from unconsolidated joint ventures 2,320 2,294
Proceeds from insurance claims 2,048 109
Capital improvements (204,037) (155,061)
Net cash used in investing activities (677,954) (161,529)
Cash Flows From Financing Activities:    
Proceeds from stock options and employee stock purchase plan 1,717 1,678
Distributions:    
Common Stockholders (195,112) (180,537)
Common OP Unitholders (10,681) (10,393)
Preferred Stockholders (8) (8)
Share based award tax withholding payments (2,814) (3,962)
Principal payments and mortgage debt repayment (108,968) (455,252)
Mortgage notes payable financing proceeds 270,016 662,255
Term loan repayment (300,000) 0
Term loan proceeds 600,000 0
Line of Credit repayment (379,500) (367,500)
Line of Credit proceeds 377,500 257,500
Debt issuance and defeasance costs (11,225) (17,150)
Other (366) (612)
Net cash provided by (used in) financing activities 240,559 (113,981)
Net increase in cash and restricted cash 16,212 85,358
Cash and restricted cash, beginning of period 24,060 28,860
Cash and restricted cash, end of period 40,272 114,218
Supplemental Information:    
Cash paid for interest 77,377 76,551
Net investment in real estate – reclassification of rental homes 55,355 28,774
Other assets, net – reclassification of rental homes (55,355) (28,774)
Real estate acquisitions:    
Investment in real estate (494,342) (9,050)
Other assets, net (2,815) 0
Accrued expenses and accounts payable 8,432 0
Rents and other customer payments received in advance and security deposits 10,940 179
Real estate acquisitions, net (477,785) (8,871)
Real estate dispositions:    
Investment in real estate 52 0
Loss on sale of real estate, net (59) 0
Real estate dispositions, net $ (7) $ 0