Management Contracts

12 Months Ended

Sep. 30, 2012

Management Contracts [Abstract]

Management Contracts

(6) Management Contracts

The costs related to the Company’s purchase of management contracts are capitalized as incurred. The management contract asset was $22.6 million as of September 30, 2012 compared to $22.3 million at the end of the prior comparable period. The costs are defined as an ‘intangible asset’ per FASB standard “Intangibles—Goodwill and Other.” The management contract purchase costs include legal fees, shareholder vote fees and percent of asset costs to purchase the management contracts.