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Notes And Other Receivables
 12 Months Ended
Dec. 31, 2016
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract]  
Notes And Other Receivables
Notes and Other Receivables

The following table sets forth certain information regarding notes and other receivables (in thousands):

 
 
Year Ended
 
 
December 31, 2016
 
December 31, 2015
Installment notes receivable on manufactured homes, net
 
$
59,320

 
$
20,418

Other receivables, net
 
21,859

 
27,554

Total notes and other receivables, net
 
$
81,179

 
$
47,972



Installment Notes Receivable on Manufactured Homes

The installment notes of $59.3 million (net of allowance of $0.2 million) and $20.4 million (net of allowance of $0.2 million) as of December 31, 2016 and December 31, 2015, respectively, are collateralized by manufactured homes. The notes represent financing provided by us to purchasers of manufactured homes primarily located in our communities and require monthly principal and interest payments. The notes have a net weighted average interest rate (net of servicing costs) and maturity of 8.3% and 16 years as of December 31, 2016, and 8.6% and 10.0 years as of December 31, 2015. The increase in weighted average maturity from 10.0 years to 16.0 years is the result of a shift to longer maturities in our financed sales of manufactured homes in 2016, as well as our acquired notes having longer maturities than our previous average.

The change in the aggregate gross principal balance of the installment notes receivable is as follows (in thousands):

 
Year Ended
 
December 31, 2016
 
December 31, 2015
Beginning balance
$
20,610

 
$
26,024

Financed sales of manufactured homes
41,322

 
838

Acquired notes
3,521

 
850

Principal payments and payoffs from our customers
(4,363
)
 
(4,798
)
Notes sold with dispositions
—

 
(383
)
Principal reduction from repossessed homes
(1,566
)
 
(1,921
)
Total activity
38,914

 
(5,414
)
Ending balance
$
59,524

 
$
20,610



Allowance for Losses for Installment Notes Receivable

The following table sets forth the allowance change for the installment notes receivable (in thousands):

 
Year Ended
 
December 31, 2016
 
December 31, 2015
Beginning balance
$
(192
)
 
$
(140
)
Lower of cost or market write-downs
128

 
80

Increase to reserve balance
(141
)
 
(132
)
Total activity
(13
)
 
(52
)
Ending balance
$
(205
)
 
$
(192
)


Other Receivables

As of December 31, 2016, other receivables were comprised of amounts due from residents for rent, and water and sewer usage of $6.0 million (net of allowance of $1.5 million), home sale proceeds of $11.6 million, insurance receivables of $2.3 million, rebates and other receivables of $2.0 million. As of December 31, 2015, other receivables were comprised of amounts due from residents for rent, and water and sewer usage of $4.7 million (net of allowance of $0.9 million), home sale proceeds of $10.5 million, insurance receivables of $1.2 million, insurance settlement of $3.7 million, rebates and other receivables of $5.3 million and a note receivable of $2.2 million.