Equity LifeStyle owns the land, not the homes. It rents ~173,000 sites across 453 manufactured-home communities, RV resorts and marinas — mostly to retirees and vacationers in Florida, Arizona and California — collecting stable ground rent while residents own the home or RV that sits on it. ~90% of revenue is recurring annual rent.
What Equity LifeStyle Properties, Inc. really sells
Equity LifeStyle owns the land, not the homes. It rents ~173,000 sites across 453 manufactured-home communities, RV resorts and marinas — mostly to retirees and vacationers in Florida, Arizona and California — collecting stable ground rent while residents own the home or RV that sits on it. ~90% of revenue is recurring annual rent.