The Importance of Home
Earlier this year, over the course of just a few weeks, COVID-19 upended life in America. Since then, we’ve collectively witnessed the terrible reality of the virus and have suffered through the deaths of loved ones, we’ve felt the wide-reaching effects of a severe economic slowdown, and we’ve transitioned our traditional socially engaged lifestyle to one marked by social distancing.
This unprecedented upheaval has magnified the importance of home, where we feel welcome and safe. At Invitation Homes, that’s something we never take for granted. We are proud to provide quality homes in great neighborhoods to people who want to rent rather than own. Now, more than ever, we know the importance of home to each of the families who live in our roughly 80,000 houses across the country.
An Affordable and High-Quality Housing Option
In recent years, a growing number of Americans have opted to rent a home rather than buy. From families wanting to be closer to good schools, to grandparents looking to simplify their lives and live close to grandchildren, to people who just don’t want the burden of a mortgage or a home to maintain – more people are choosing the flexibility and ease that comes with leasing a home.
It’s been reported that COVID-19 is accelerating demand for single-family rentals, as some residents have moved from densely-populated cities hardest hit by the pandemic. As the nation’s premier single-family home leasing company, Invitation Homes is pleased to provide Americans with high-quality housing options and worry-free service. And as we continue to grow, we remain steadfastly committed to taking care of our residents and the communities in which we operate.
Investing in Houses People Will Love
Resident satisfaction begins with homes that are in locations people will love. We look for the same qualities as other home buyers: proximity to good schools, parks, and employment centers; and optimal layouts and contemporary appliances. Invitation Homes considers migration patterns when determining which markets to enter, and we tend to buy homes in areas of high-growth and in popular markets.
We also strive to maintain high standards for our homes. In most of our markets, our typical home is three bedrooms with two baths, has an attached parking structure, and is somewhere between 1,700 and 2,400 square feet. We work to ensure that the floor plan is convenient and meets the lifestyle needs of our residents, while considering how well the home has been maintained.
Taking Care of What Matters Most
After we purchase a home, we make an initial renovation investment – in 2019, that investment averaged about $38,000 per home. Then, once a resident has moved in, we offer timely maintenance services to address any issues that may arise. Properly caring for 80,000 homes and their residents is no small task and something we’re always striving to improve. That’s why we implemented our ProCare program, an innovative and proactive maintenance system that allows us to engage with residents throughout the lifecycle of their time with us.
Programs like ProCare help us improve resident satisfaction – a driving force behind everything we do at Invitation Homes. Throughout the year we seek input from our residents about things like our maintenance performance, the move-in and move-out process, and the ways in which we can make their lives easier. This information is crucial and incorporating the feedback into our processes helps create better homes and a more satisfying experience for our residents.
As more people continue to explore alternative housing options, we’re committed to providing high-quality homes in great neighborhoods with superior service. Homes were never just the places we eat and sleep, but they now serve as schools, offices, restaurants, and daycares. And we are committed to providing safe, functional, and welcoming homes for our residents as they navigate this time of unprecedented change.