A snapshot of Invitation Homes’ residents during Resident Appreciation Month

Over the past three years, a growing share of individuals have reported that they would lease if they moved, according to recent data by Fannie Mae. As a leading single-family leasing company, Invitation Homes is meeting the needs of current and prospective residents with high-quality housing options and exceptional service, free from the burden of a mortgage or other pain points associated with homeownership. We cater to a wide variety of residents who gravitate to our product for equally diverse reasons. Whether they are saving up to buy a home, needing a place to call home while they experience a life transition, or simply prefer the ease of leasing, we continually take note of who our residents are, what they value, and how we can continue meeting their expectations.

We regularly conduct resident surveys to inform our approach to providing best-in-class customer service. The latest data indicates that 41% of our residents fall into the Millennial category, with the average resident being 38 years old, and that the number of residents who would like to own but are unable to do so is 46%. We find that our residents lease with us for personal reasons such as affordability, the need for more space, the preference for a house over an apartment, and the need to live closer to work. While they come from different backgrounds and have unique needs, our residents choose to lease our spacious single-family homes because they prefer a flexible and affordably priced housing option.

Our data also shows that our residents are staying with us longer. At an average tenure of nearly 38 months, or just over 3 years, our residents are overwhelmingly satisfied with our product and the customer service we offer. With a 97% average same-store occupancy rate and an almost 79% same-store renewal rate, it is apparent that our residents are happy in their homes. This trend toward extended lease terms allows Invitation Homes associates to get acquainted with residents and build meaningful relationships with them over time, helping them feel even more at ease.

Invitation Homes residents enjoy all the benefits of living in a single-family home, without the headaches of homeownership. With 60% of our residents having at least one child at home and 56% caring for at least one pet, we help them save valuable time on maintenance and lawn care by offering on-demand handyman services and landscaping that keep homes and yards in pristine condition. Our residents especially appreciate our value-add services, such as high-speed internet access and energy-saving technology.

Residents can also take advantage of year-round giveaways on our Instagram feed , including daily giveaways throughout Resident Appreciation Month every November.

Current housing market conditions aside, more residents are choosing to lease rather than buy to avoid the complications that come with homeownership, and we are happy to help meet this demand. Invitation Homes is pleased to provide residents with a comfortable and accessible housing option regardless of the duration of their stay with us. Leasing with Invitation Homes also allows our residents the opportunity to become more financially stable since it is currently about $1,000 more affordable to rent than to own in the markets where we operate. Our goal is to improve the quality of life for our residents and ensure their satisfaction with our product so that they stay with us for the long haul.