You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: I am pleased to report the results for the second quarter of 2021.
Our properties experienced unprecedented demand in the quarter.
Our MH revenue, RV revenue, home sales and subscription revenue exceeded our expectations.
We continued our record of strong core operations and FFO growth with a 30% growth in normalized FFO per share in the quarter.
While this great -- growth rate is significantly impacted by the negative comps from 2020, it represents 28% growth from the second quarter 2019.
New customer growth in both MH and RV contributed to the positive results in the quarter.
Year-to-date, new home sales grew by 122% contributing to the high quality of occupancy at our MH communities.
Homeowners grew by 179 in the quarter, driven by a record number of new home sales.
Our residents recognize the high quality and value of homes in our communities and are especially motivated to buy given trends in the broader real estate market.
We continue to focus on digital marketing and our website experience as a catalyst for growing our home sales pipeline.
The unique traffic to our website has grown over 35% compared to the same time prior to the pandemic.
Within our RV platform, we saw increased demand during holidays and weekends, as well as strength in weekday activity.
We saw an increase in customers committing to us on an annual basis.
The resort LifeStyle appeals to our customers as they choose an ELS property for their second home.
We are attracting a larger number of new guests than in previous years and new customers look a lot like our pre-pandemic guests, indicating stability in our growing customer base.
The number of new customers added to our database during the first half of 2021 is up 25% compared to 2019.
These, first time our viewers are drawn to campaign because of an increased desire to spend time outside and the feeling that campaign is a safe activity.
We see our new customers choosing to increase engagement with us.
Our subscription-based Thousand Trails Camping Pass showed significant growth in the quarter.
Over 8,000 new members purchase a campus, which was an increase of 40% over the second quarter of 2020.
We reached a new high with almost 50% of all camp passes being sold online.
With increased RV sales, we saw our RV dealer past activations increased 39%.
In our customer surveys, our new customers are indicating that they intend to camp more even after returning to other vacation travel including plane travel and hotel stays.
In 2020 to help support the safety of our guests and team members, we launched a new online check-in option for our RV guests.
Since launch, over 250,000 reservations were completed through the online check-in process allowing them to get to their site more quickly and with less direct interaction.
The 2021 TripAdvisor Traveler's Choice Awards have been announced and we are pleased that 54 of our properties won this year, 26 of those properties are Hall of Fame winners as they have maintained a Travelers' Choice Award for 5 years.
Our guests reported high satisfaction levels based on the experience provided by our teams at our properties.
Based on the second quarter survey results, guests responded to customer experience questions with a rating of 4.46 out of 5.
In May, we released our Annual Sustainability Report, highlighting our commitments to American Forest and Marine Life as well as our ongoing project centered around energy efficiency at our properties.
We have increased our efforts to bolster diversity through our CEO action pledge, expanded learning curriculum and recruitment efforts.
The report highlights all the ways that we unite people, places and purpose within our communities.
We are halfway through our primary camping season and the feedback we've received is a testament to the hard work of our teams in the field and in the home and regional offices.
I will review our second quarter results, highlight our guidance assumptions for the third quarter and full year 2021 and discuss our balance sheet and debt market conditions.
For the second quarter, we reported $0.61 normalized FFO per share, $0.07 ahead of the midpoint of our guidance range.
The main drivers of outperformance compared to our guidance were core RV rent revenues and membership revenues including upgrade sales.
Our core MH rent growth of 4, 7% consists of approximately 4.1% rate growth and 60 basis points related to occupancy gains.
We have increased occupancy 153 sites since December with an increase in owners of 283, while renters decreased by 130.
While our occupied sites increased during the second quarter, our reported occupancy percentage reflects the impact of expansion sites we've added to our portfolio.
Core RV resort base rental income from annuals, increased 7.5% for the second quarter and 5.6% year-to-date compared to the same periods last year.
Annual RV rate increases, continue to be in line with our expectations.
Increased occupancy from annual RV residents in our Northern properties was higher than expected during the quarter.
The average annual rates in these locations are lower than our Southern and Western Resorts, so the increased occupancy slightly reduced our core portfolio average rate.
For the quarter, RV rent from seasonal, increased 31% and rent from transients increased 180% compared to 2020.
The comparison to prior year is impacted significantly by COVID-related property closures and shelter in place orders that were in effect during the second quarter 2020.
Strong demand in the quarter is evidenced by seasonal and transient growth rates of 19% and 50% respectively over 2019.
Membership dues revenue increased 10.1% and 7.2% for the quarter and year-to-date respectively compared to the prior year.
Year-to-date, we've sold approximately 13,000 to 500,000 Trails Camping Pass memberships, this represents a 50% increase over the same period in 2020 and an increase of 32% over the same period in 2019.
The net contribution from membership upgrade sales year-to-date is $5 million higher than 2020.
During the quarter, members purchase more than 1,200 upgrades at an average price of approximately $7,400.
Core utility and other income was higher than expected during the quarter as a result of the receipt of insurance proceeds related to Hurricane Hanna in 2020.
We recognized approximately $2.3 million of income in the quarter related to that storm event.
Core property operating, maintenance and real estate tax expenses were generally in line with our expectations for the quarter, higher than expected utility expenses for offset by lower payroll expense as we faced challenges filling open positions across the portfolio.
The comparison to second quarter 2020, shows an elevated expense growth rate as a result of the COVID-related limited operations conducted across our portfolio during the second quarter last year.
In summary, second quarter core property operating revenues increased 14.9% and Core property operating expenses increased 13.9%, resulting in an increase in core NOI before property management of 15.6%.
For reference, the second quarter core NOI growth CAGR from 2019 is 8%.
Income from property operations generated by our non-core portfolio was $5.2 million in the quarter.
This result was higher than our expectations in part because of the NOI contributed by Pine Haven, the RV resorts we acquired during the quarter.
Revenues from annual customers at the marinas and other properties in the non-core portfolio generated more than 90% of total non-core revenues in the quarter and year-to-date periods.
Property management and corporate G&A expenses were $26.8 million for the second quarter of 2021 and $52.7 million for the year-to-date period.
Other income and expenses generated a net contribution of $5.7 million for the quarter.
New home sales profits along with the recovery in our ancillary retail and restaurant operations contributed to an increase of $4 million in sales and ancillary NOI compared to the second quarter 2020.
Interest and related loan cost amortization expense was $27.1 million for the quarter and $53.4 million for the year-to-date period.
As I provide some context for the information we've provided, keep in mind my remarks are intended to provide our current estimate of future results.
A significant factor in our guidance assumptions for the remainder of 2021 is the level of demand for transient stays in our RV communities.
We have developed guidance based on our current customer reservation trends.
Our full year 2021 normalized FFO is $2.47 per share, at the midpoint of our range of $2.42 to $2.52 per share.
Normalized FFO per share at the midpoint represents an estimated 13.4% growth rate compared to 2020.
Core NOI is projected to increase 7.9% at the midpoint of our range of 7.4% to 8.4%.
The core NOI growth rate increased from our prior guidance is mainly the result of our second quarter outperformance.
Our expectation for the third and fourth quarters has been updated to include MH occupancy gains in the second quarter, current RV reservation trends and expense adjustments based on year-to-date activity.
As a reminder, we make no assumptions for storm events or other uninsured property losses we may incur.
Our guidance for the full year and third quarter includes the impact of the acquisition activity we've closed in the first and second quarters with no assumptions for additional acquisitions during the year.
We've also included the impact of the financing activity we've disclosed including the recast of our unsecured credit facility.
We expect third quarter normalized FFO at the midpoint of our range of approximately $119.5 million with a per share range of $0.59 to $0.65.
We expect the third quarter to contribute 25% of full year normalized FFO.
We project a core NOI growth rate range of 8.7% to 9.3%.
MH and RV annual growth -- rate growth assumptions for the third quarter and full year remained consistent with our prior guidance.
We've built our transient RV revenue assumptions for the third and fourth quarters using factors including current reservation pace compared to both 2020 and 2019.
Our guidance for the third quarter assumes a growth rate of approximately 23% compared to 2019, this represents a core transient RV revenue increase of approximately $3.5 million compared to 2020.
Our fourth quarter assumptions include a reopening of the Canadian border and return of those customers for the upcoming winter season.
Now, some comments on debt markets and our balance sheet.
Current secured debt terms available for MH and RV assets range from 50% to 75% LTV with rates from 2.5% to 3.5% for 10-year maturities.
High quality age-qualified MH will command best financing terms.
RV assets with a high percentage of annual occupancy have access to financing from certain life companies as well as CMBS lenders.
Life companies continue to quote competitively on longer term maturities.
We continue to place high importance on balance sheet flexibility and we believe, we have multiple sources of capital available to us.
Our debt-to-EBITDAre is 5.4 times and our interest coverage is 5.4 times.
The weighted average maturity of our outstanding secured debt is approximately 12.5 years.

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q2 adjusted ffo per share $0.61.

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