Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net income	$ 38,679	$ 53,129	$ 127,771
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,551	4,713	1,102
Amortization of interest rate caps	70	0	0
Straight line office rent	(291)	(380)	(345)
Amortization expense related to other assets	9,416	9,416	9,416
Provision for credit losses	190	602	0
Provision (benefit) for deferred income taxes	1,982	3,057	(1,108)
Gain on sale of real estate	(445)	0	0
Change in fair value of Earnout liability	(8,319)	(2,589)	0
Operating expenses paid in The RMR Group Inc. common shares	3,798	3,937	3,608
Distributions from investments	2,272	2,391	2,221
Loss (gain) on investments	5,085	(7,260)	(25,237)
Changes in assets and liabilities:
Due from related parties	54,607	(14,364)	(6,584)
Prepaid and other current assets	(2,184)	(1,475)	(1,625)
Reimbursable accounts payable and accrued expenses	(46,891)	12,520	(2,297)
Accounts payable and accrued expenses	6,226	(2,322)	2,293
Net cash provided by operating activities	75,746	61,375	109,215
Cash Flows from Investing Activities:
Acquisition of MPC Partnership Holdings LLC, net of cash acquired	0	(78,771)	0
Rental property acquisitions	(166,008)	(70,509)	0
Funding of loans held for investment	(7,553)	(57,180)	0
Repayment of loans held for investment	3,000	0	0
Purchase of property and equipment	(3,650)	(3,865)	(3,983)
Purchase of interest rate caps	(1,945)	0	0
Proceeds from deferred origination fees	0	700	0
Investment in residential fund	(768)	(213)	0
Investment in joint ventures			53,479
Investment in joint ventures	(11,134)	0
Proceeds from sale of property	4,198	0	0
Net cash (used in) provided by investing activities	(183,860)	(209,838)	49,496
Cash Flows from Financing Activities:
Proceeds from secured financing facility	5,573	41,655	0
Repayments of secured financing facility	(2,158)	0	0
Proceeds from mortgage notes payable	93,200	46,500	0
Payment of deferred financing fees	(2,719)	(1,960)	0
Distributions to noncontrolling interests	(31,041)	(32,197)	(50,145)
Distributions to common shareholders	(30,347)	(28,423)	(26,576)
Member distributions upon sale of 260 Woodstock	(409)	0	0
Repurchase of common shares	(903)	(1,136)	(734)
Payments under the tax receivable agreement	(2,384)	(2,366)	(2,355)
Net cash provided by (used in) financing activities	28,812	22,073	(79,810)
Decrease in cash and cash equivalents	(79,302)	(126,390)	78,901
Cash and cash equivalents at beginning of period	141,599	267,989	189,088
Cash and cash equivalents at end of period	62,297	141,599	267,989
Supplemental Disclosures:
Income taxes paid	5,743	9,138	21,233
Interest paid	6,401	371	0
Non-cash investing and financing activities:
Recognition of right of use assets and related lease liabilities	1,853	3,646	5,057
Recognition of Earnout liability	0	14,547	0
Assumption of mortgage note payable	0	5,429	0
Property and equipment accrued, not paid	$ 18	$ 465	$ 39