1. 2012 Core properties include properties we owned and operated during all of 2011 and 2012. Excludes property management expenses and the GAAP deferral of right-to-use contract upfront payments and related commissions, net.
2. Calculations prepared using unrounded numbers.
3. See core manufactured home site figures and occupancy averages table above.
4. See resort base rental income table included below within this table.5. During the year ended December 31, 2012, the Company recognized approximately $2.1 million of cable service prepayments due to the bankruptcy of a third-party cable service provider at certain of the properties. 6. Growth rate excluding cable service prepayments, right-to-use contract sales and sales and marketing expenses is 2.3%, 1.3%, and 3.0% for property operating revenues, property operating expenses, and income from property operations, respectively, for the year ended December 31, 2012. 7. Occupied sites have increased by 278 from 40,258 at December 31, 2011.
|2011 Acquisitions - Income from Property Operations (1)|
|Three Months Ended||Year Ended|
|December 31,||December 31,|
|Community base rental income||$||35.2||$||31.9||$||139.8||$||52.2|
|Rental home income||1.8||1.0||5.9||1.6|
|Resort base rental income||0.1||—||0.5||0.1|
|Utility income and other property income||3.2||2.6||12.8||4.3|
|Property operating revenues||40.3||35.5||159.0||58.2|
|Property operating, maintenance, and real estate taxes||12.6||11.5||53.1||19.0|
|Rental home operating and maintenance||0.7||0.4||2.7||1.0|
|Property operating expenses||13.3||11.9||55.8||20.0|
|Income from property operations||$||27.0||$||23.6||$||103.2||$||38.2|
|Total Acquisition||Michigan||Total less|
|Average Occupancy for the Three Months Ended December 31, 2012|
|Monthly base rent per occupied site||$||453||$||456||$||452|
|Average Occupancy for the Year Ended December 31, 2012 (2)|
|Monthly base rent per occupied site||$||451||$||455||$||450|