Sun Communities is a real estate investment trust that owns and operates manufactured housing and recreational vehicle communities across North America and the United Kingdom, generating revenue primarily from site lease payments for land parcels, home sales to residents, and vacation rental operations. The company leases individual land parcels to customers for placement of manufactured homes and RVs—offering MH residents affordable housing with lifestyle amenities and RV customers vacation experiences with facilities such as restaurants and golf courses—and operates a taxable subsidiary that vertically integrates home sales and leasing to enhance occupancy and cash flows. The company competes with other MH and RV communities and alternative housing forms, differentiating itself through hands-on property management with dedicated on-site managers and a model that converts renters to home owners.