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Consolidated Statements of Income (Loss) (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
INCOME:    
Rental and Related Income $ 17,215,686us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue $ 14,846,776us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
Sales of Manufactured Homes 1,128,400us-gaap_HomeBuildingRevenue 1,002,405us-gaap_HomeBuildingRevenue
Total Income 18,344,086us-gaap_RealEstateRevenueNet 15,849,181us-gaap_RealEstateRevenueNet
EXPENSES:    
Community Operating Expenses 8,812,489us-gaap_OtherCostAndExpenseOperating 8,287,609us-gaap_OtherCostAndExpenseOperating
Cost of Sales of Manufactured Homes 880,670us-gaap_HomeBuildingCosts 766,379us-gaap_HomeBuildingCosts
Selling Expenses 685,539us-gaap_SellingExpense 720,679us-gaap_SellingExpense
General and Administrative Expenses 1,656,700us-gaap_GeneralAndAdministrativeExpense 1,603,923us-gaap_GeneralAndAdministrativeExpense
Acquisition Costs 106,131us-gaap_BusinessCombinationIntegrationRelatedCosts 285,179us-gaap_BusinessCombinationIntegrationRelatedCosts
Depreciation Expense 4,228,274us-gaap_Depreciation 3,437,672us-gaap_Depreciation
Total Expenses 16,369,803us-gaap_OperatingExpenses 15,101,441us-gaap_OperatingExpenses
OTHER INCOME (EXPENSE):    
Interest Income 478,333us-gaap_InterestIncomeOperating 547,243us-gaap_InterestIncomeOperating
Dividend Income 1,094,778us-gaap_InvestmentIncomeDividend 1,059,465us-gaap_InvestmentIncomeDividend
Gain on Sales of Securities Transactions, net 58,200us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet 508,403us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet
Other Income 49,864us-gaap_OtherNonoperatingIncome 52,687us-gaap_OtherNonoperatingIncome
Interest Expense (2,811,611)us-gaap_InterestExpense (2,208,125)us-gaap_InterestExpense
Amortization of Financing Costs (130,043)us-gaap_AmortizationOfFinancingCosts (116,580)us-gaap_AmortizationOfFinancingCosts
Total Other Income (Expense) (1,260,479)us-gaap_NonoperatingIncomeExpense (156,907)us-gaap_NonoperatingIncomeExpense
Income before Loss on Sales of Investment Property and Equipment 713,804us-gaap_IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges 590,833us-gaap_IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
Gain (Loss) on Sales of Investment Property and Equipment 4,713us-gaap_GainsLossesOnSalesOfInvestmentRealEstate (22,644)us-gaap_GainsLossesOnSalesOfInvestmentRealEstate
Net Income 718,517us-gaap_NetIncomeLoss 568,189us-gaap_NetIncomeLoss
Less: Preferred Dividend 1,889,147us-gaap_DividendsPreferredStock 1,889,147us-gaap_DividendsPreferredStock
Net Income (Loss) Attributable to Common Shareholders $ (1,170,630)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (1,320,958)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic Income Per Share:    
Net Income $ 0.03us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.03us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Less: Preferred Dividend $ 0.08us-gaap_PreferredStockDividendsPerShareCashPaid $ 0.09us-gaap_PreferredStockDividendsPerShareCashPaid
Net Income (Loss) Attributable to Common Shareholders $ (0.05)us-gaap_EarningsPerShareBasic $ (0.06)us-gaap_EarningsPerShareBasic
Diluted Income Per Share:    
Net Income $ 0.03us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.03us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Less: Preferred Dividend $ 0.08us-gaap_PreferredStockDividendsPerShareCashPaid $ 0.09us-gaap_PreferredStockDividendsPerShareCashPaid
Net Income (Loss) Attributable to Common Shareholders $ (0.05)us-gaap_EarningsPerShareDiluted $ (0.06)us-gaap_EarningsPerShareDiluted
Weighted Average Common Shares Outstanding:    
Basic 24,796,898us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 21,261,375us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 24,840,565us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 21,307,103us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding