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Consolidated Statements of Income (Loss) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
INCOME:      
Rental and Related Income $ 53,477,893 $ 38,012,231 $ 32,990,219
Sales of Manufactured Homes 8,727,214 8,815,533 6,323,135
Total Income 62,205,107 46,827,764 39,313,354
EXPENSES:      
Community Operating Expenses 29,140,920 20,564,286 17,758,332
Cost of Sales of Manufactured Homes 7,204,410 7,903,678 5,747,963
Selling Expenses 1,985,834 2,152,701 2,104,077
General and Administrative 6,242,224 5,137,516 3,854,866
Franchise Taxes 299,000 237,000 125,000
Loss Relating to Flood 0 0 984,701
Acquisition Costs 1,455,542 862,169 260,463
Depreciation Expense 11,681,724 7,357,158 5,962,338
Total Expenses 58,009,654 44,214,508 36,797,740
OTHER INCOME (EXPENSE):      
Interest Income 2,186,387 2,027,969 1,991,180
Dividend Income 3,481,514 3,243,592 2,512,057
Gain on Sale of Securities Transactions, net 4,055,812 4,092,585 2,692,649
Other Income 211,051 643,588 77,375
Interest Expense (7,849,835) (5,803,172) (5,744,567)
Amortization of Financing Costs (462,362) (302,280) (376,918)
Total Other Income (Expense) 1,622,567 3,902,282 1,151,776
Income Before Gain (Loss) on Sales of Investment Property and Equipment 5,818,020 6,515,538 3,667,390
Gain (Loss) on Sales of Investment Property and Equipment 18,803 (41,481) 28,873
NET INCOME 5,836,823 6,474,057 3,696,263
Less: Preferred Dividend 7,556,588 4,724,718 1,656,766
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (1,719,765) $ 1,749,339 $ 2,039,497
Basic Income Per Share:      
Net Income $ 0.31 $ 0.40 $ 0.25
Less: Preferred Dividend $ (0.40) $ (0.29) $ (0.11)
Net Income (Loss) Attributable to Common Shareholders $ (0.09) $ 0.11 $ 0.14
Diluted Income Per Share:      
Net Income $ 0.31 $ 0.40 $ 0.25
Less: Preferred Dividend $ (0.40) $ (0.29) $ (0.11)
Net Income (Loss) Attributable to Common Shareholders $ (0.09) $ 0.11 $ 0.14
Weighted Average Shares Outstanding:      
Basic 18,724,321 16,197,339 14,506,679
Diluted 18,789,662 16,260,225 14,562,018