Invitation Homes’ residents turn our houses into homes. They are a variety of individuals and families with differing profiles and preferences, but all share a desire for flexibility, high-quality homes, and great service. Our team of associates across the country are proud to help each of them on the journey to finding their dream home and provide support during their time with us. During November, we celebrate Resident Appreciation Month, and below we spotlight who our residents are, what they value, and how we plan to continue to meet their needs.
Who Our Residents Are
Our residents may come from all walks of life, but they have at least one thing in common—they’re looking to live in modern homes located in desirable communities. Our residents also often come to us with a desire for more space and closer proximity to work, which is why we prioritize operating in growing markets.
Many of our residents fall into the professional category, making them less susceptible to short-term economic impacts. Our average resident has an approximate annual household income of $142,000 and a 5.2 income-to-rent ratio, so leasing with us provides an opportunity to build financial stability and save. We’re proud to say that about a quarter of our residents who move out do so to become homeowners, and we’d like to think their ability to save while leasing with us helped them achieve that goal.
As a lead investor in Pathway Homes , Invitation Homes is also supporting residents who might want to eventually purchase the home they know and love. And through our Resident First Look™ program, we offer Invitation Homes residents the opportunity to purchase the home they are already leasing—before it’s listed on the open market—if we’ve identified it as a potential home for sale.
What Our Residents Value
We understand that there are many choices for people who want or need to lease, and our various service offerings provide an elevated experience compared to other options. We offer free positive credit reporting for on-time rent payments, the latest smart home technology, air filter delivery, and exclusive offers and discounts to residents with popular stores and brands.
The success of this approach lies in the numbers—our residents are overwhelmingly satisfied with and positive about their experiences, in large part due to our range of service offerings and superior customer service. Invitation Homes has a 96.9% average occupancy rate, a 4.69 average maintenance rating, and a 4.38 Google and Yelp rating for the third quarter of 2023.
Meeting Demand Now and in the Future
Our residents typically fall into one of three categories: aspirational, transitional, or preferential. Aspirational residents seek to eventually buy a home but need time in a leasing situation to save up or to repair credit, transitional residents are often moving between locations or are trying out a new city or neighborhood to see if it works for them and their family, and preferential residents are those who want to live in a single-family home without the burdens of homeownership. While each group has slightly different preferences, we’ve been able to meet all of their needs over the years and value the trust they put in Invitation Homes as a leading company leasing single-family homes.
As we look toward the future, our teams are working diligently to incorporate technology and AI into leasing to make the resident experience even more seamless and user-friendly. And we’re building homes for rent to help address the significant housing shortage in America.
Our residents are at the core of everything we do, and they’re the reason we’re able to expand operations and meet growing demand for alternative housing options.
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