Hubbry Logo
Invitation HomesInvitation HomesMain
Open search
Invitation Homes
Community hub
Invitation Homes
logo
7 pages, 0 posts
0 subscribers
Be the first to start a discussion here.
Be the first to start a discussion here.
Invitation Homes
Invitation Homes
Invitation Homes
View on Wikipedia
from Wikipedia

Invitation Homes Inc. is a public company traded on the New York Stock Exchange. It is headquartered in the Lincoln Center building in Dallas, Texas.[2] Dallas B. Tanner is chief executive officer. As of 2017, the company was reportedly the largest owner of single-family rental homes in the United States.[2] As of July 2024, the company owned about 84,000 rental homes in 16 markets.[3] Seventeen percent of their rental income is from California.[4]

Key Information

History

[edit]

2005–2012: Background and formation

[edit]

In 2005, entrepreneur Dallas Tanner and several others formed the housing and apartment investment company Treehouse Group in Arizona.[5] Between 2010 and 2011, it bought 1,000 distressed houses in Phoenix, Arizona, a city heavily impacted by foreclosures caused by the subprime mortgage crisis[2] and one of the first areas where private equity investor purchases of homes for rent took place after the Great Recession.[6]

In 2011, Treehouse merged with the Dallas-based property management firm Riverstone Residential.[2] The company was acquired by Blackstone Inc in the spring of 2012, forming Invitation Homes, with Blackstone giving Treehouse and Residential more capital to expand the business.[2]

2012–2017: Initial purchases

[edit]

Invitation Homes' first home purchase was in April 2012,[2] and within a year the company had spent $4 billion on 24,000 homes in the United States, becoming the largest buyer of homes for rent in the United States; section 8 properties made up 16% of the portfolio.[7] In April 2013, it made a $100-million-plus purchase of 1,400 Atlanta homes from Building and Land Technology.[7]

From August 2012 to June 2013, Invitation Homes purchased 1,650 homes in the Tampa Bay Area for over $250 million.[8] In June, 85% of Tampa Bay online listings by Invitation Homes were above the area's average rent of $1,200.[8]

At the time, corporate home owners like Invitation Homes were purchasing houses in "strike zones," neighborhoods located near several jobs, schools, and transportation systems that were also facing high amounts of foreclosures, and rented them to middle-aged parents raising children making around $100,000 a year or more.[9]

In 2013, Invitation Homes created an asset class of single-family rental securities (SFR) to raise money for purchasing and restoring houses.[9]

In 2016, Invitation Homes instituted its "Resident First Look" program where some renters would be given an option to purchase the homes they rent.[10]

2017–present: Initial public offering and merger

[edit]

By January 2017, nearly $10 billion of the company's SFR bonds were sold[11] a number that went to $15 billion in July 2018.[9] On January 23, 2017, Fannie Mae funded $1 billion of debt to Invitation Homes as back-up money; four years prior, Fannie stopped another government-sponsored entity buying distressed homes, and Fannie's acquisition with the Blackstone entity was the first time in history it backstopped a single-family house landlord company.[11] According to Corinne Russell, spokesperson of Fannie Mae regulator Federal Housing Finance Agency (FHFA), the deal was a way for Fannie Mae and Freddie Mac to learn about the mechanics of the single-family rent market and what the government enterprises' role should be in it.[9] The decision received criticism from more than 25 affordable-housing advocate groups, who believed Fannie Mae wasn't following its principle of protecting home owners.[9] In February, Invitation Homes became a public company via an initial public offering, the second-largest initial public offering of a real estate investment trust in the United States with $1.77 billion.[2] In November 2017, Invitation Homes merged with Starwood Waypoint, a corporate spin-off of Starwood Capital Group, the resulting company will be known as Invitation Homes.[2][12]

In November 2019, Blackstone divested its share of Invitation Homes.[13][14]

In October 2020, Invitation Homes created a joint venture with Rockpoint Group to purchase $1 billion in single-family homes in Dallas, Seattle, South Florida and other U.S. markets.[15]

In July 2021, the company launched a joint venture with Atlanta, Georgia-based home construction company PulteGroup, where Pulte was projected to design and build approximately 7,500 new homes over the next five years for sale to Invitation Homes for inclusion in their single-family rental leasing portfolio.[16]

Business model

[edit]

As of 2017, the company was reportedly the largest owner of single-family rental homes in the United States.[2] As of December 2022, the company owned about 83,000 rental homes in 16 markets.[3] The Wall Street Journal described Invitation Homes as competing "at the high end of the rental market". Tenants are typically in their late-30s with children and household income of approximately $100,000.[14]

Criticism

[edit]

Wall Street companies in the rent industry, especially Invitation Homes, have garnered strong backlash from real estate experts and affordable-housing activists for taking advantage of tenants to fulfill investors' pockets; the primary argument is that the corporations are incentivized to keep repair costs low and fees and rent prices high in order to increase bond sales that determine their scale.[9] California Reinvestment Coalition's Kevin Stein derogatorily labeled the business model "securitization of rental income."[9]

An analysis of Census and property data by Massachusetts Institute of Technology researcher Maya Abood of four Los Angeles County neighborhoods where Invitation Homes single-family rents are located show that the percentages of rents it owns in a neighborhood ranged from 10% to up to 25%.[9]

A December 2016 Federal Reserve Bank of Atlanta study stated Wall Street rent corporations evicted tenants significantly more than regular mom-and-pop landlords; it reported Invitation Homes evicting 15% of its renters, and the entity it would later merge with, Starwood Waypoint, 30%, and stated being African-American also increased chances of being evicted if under a company like Invitation Homes.[9]

Complaints and horror stories from Invitation Homes' customers have been covered on publications and news stations such as WGCL-TV,[17] CBS Sacramento,[18] The Arizona Republic,[6] and WTVF.[19] Mold, sewage, and water leakage;[9] nails poking out;[18] infestation of vermin such as spiders, cockroaches, and ants;[9] broken appliances such as garage doors, heating systems, stoves, and microwaves;[9] and unfulfilled repair requests are frequent issues.[9] Invitation Homes has raised rents by an average of as much as 10% per year in some markets such as Oakland, California, double the norm for these markets, according to the Alliance of Californians for Community Empowerment (ACCE).[9] There have been three protests at Blackstone's California offices by Invitation Homes tenants organized by ACCE, such as one in October 2017 at Blackstone's Santa Monica headquarters, which involved the tenants placing letters on the desks to hold a meeting with the corporation's executives and stop practices of excessive rent prices, fees, and poor maintenance; the company never got back to them.[9]

Invitation Homes has faced several lawsuits from courts throughout the country.[6] In May 2018, tenants filed a class action against the corporation in the United States District Court for the Northern District of California, with a rationale of excessive rent price increases and fees; they reported being charged $95 if even a minute late on a rent payment, regardless if the company's online payment system is broken, and filing eviction notices that added more "unfair" legal costs, fees, and penalties for them to bear.[9] On July 20, Invitation Homes responded with a motion that stated the class action group and its plaintiff had too little evidence.[9]

Staff of Invitation Homes has responded to the criticisms, including chief operating officer Charles Young who in July 2018 stated the company had an average rating of 4.32 stars out of five from tenant surveys it ran.[9]

Despite Congress passing legislation banning broker's price opinions after the mortgage crisis, it's legal for Invitation Homes to use them due to a loophole where the law doesn't apply to bonds of multiple homes.[9] For the entity, the other firm's BPOs are a less-costly alternative to mortgage appraisal by licensed contractors typical of the housing market; according to an investigation by the Securities and Exchange Commission that started in September 2017, they involve inspections by independent contractors unlicensed to do appraisals, who are only assigned to inspect the exteriors with the assumption that the interiors were already renovated.[9]

One of the single-family securities looked at by Reuters contained 7,024 houses, each of which was making the entity an average rent of $1,538 a month and $985 a year for other fees.[9] Reuters also interviewed five Invitation Homes ex-employees that stated the company spent too little on repairs; the bond data showed it spent a per-house annual average of $1,142 on maintenance, less than the typical $3,100 average most Americans spend for the same services, although the entity responded that the $750 spent on system back-up costs wasn't shown.[9]

In September 2024, Invitation Homes reached a settlement with the Federal Trade Commission (FTC), in which the company agreed to refund $48 million to customers harmed by its actions, which according the FTC allegedly included "a variety of unfair and deceptive tactics, from saddling people with hidden fees and unjustly withholding security deposits to misleading people about eviction policies during the pandemic."[20]

See also

[edit]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Invitation Homes

View on Grokipedia
from Grokipedia

Invitation Homes Inc. is an independent, publicly traded real estate investment trust and the nation's largest single-family home leasing company, owning and operating approximately 86,000 wholly owned rental properties across 16 U.S. markets as of early 2026. Headquartered in , , the company focuses on acquiring, renovating, and professionally managing updated single-family homes in desirable neighborhoods, emphasizing smart home technology, resident services, and a "worry-free leasing " for its tenants. Founded in amid the post-financial crisis wave of foreclosures, Invitation Homes rapidly scaled by purchasing distressed properties, renovating them, and converting them into rental units, initially backed by institutional investors including Blackstone Group. Blackstone, the company's former owner prior to the 2017 IPO, fully exited its investment by 2019 and no longer holds ownership or control. The firm went public in 2017 via an and merger with Starwood Homes, establishing it as a (REIT) with a portfolio concentrated in high-growth and Western markets like Phoenix, , and . By providing scalable leasing options in areas with limited rental supply, it has achieved high occupancy rates, averaging 97.2% in mid-2025, reflecting strong demand for its professionally managed properties despite broader housing market challenges. In January 2026, Invitation Homes acquired build-to-rent developer ResiBuilt to expand its development capabilities. While Invitation Homes maintains a modest share of the overall U.S. single-family housing stock—caring for less than 0.2% of the nation's estimated 80 million owner-occupied homes—it has drawn scrutiny for operational practices. In September 2024, the Federal Trade Commission (FTC) settled allegations that the company, from 2018 to 2023, misrepresented home conditions by failing to disclose widespread pre-move-in maintenance issues—evidenced by work orders from over 33,000 properties filed within the first week of occupancy—and imposed undisclosed "junk fees" for services like utility management and smart home devices, alongside delays in security deposit refunds. The settlement required $48 million in consumer redress and policy reforms without an admission of liability, highlighting tensions between the efficiencies of large-scale institutional ownership and tenant experiences in a sector where empirical data shows persistent demand amid rising homeownership barriers.

History

Origins and Formation (2005-2012)

Invitation Homes traces its origins to the real estate investment activities of Dallas B. Tanner, who founded Treehouse Group in in 2005. Treehouse Group focused on platform investments across various property types, including single-family homes, multifamily apartments, and , by privately sourcing funds for acquisitions. These early efforts capitalized on opportunities in the U.S. market prior to the , establishing operational experience in residential and investment. As the housing market deteriorated into the , Treehouse Group's strategy shifted toward distressed assets. Between 2010 and 2011, the firm acquired approximately 1,000 foreclosed single-family homes in the Phoenix area, demonstrating prescience in recognizing the potential for rental conversions amid widespread foreclosures. In 2011, Treehouse partnered with Dallas-based Riverstone Residential Group to expand its scale and operational capabilities, laying the groundwork for institutionalizing single-family rentals. Concurrently, entrepreneur Brad Greiwe and a group of six co-founders, including Tanner, conceptualized a dedicated platform for large-scale single-family home leasing, driven by the post-crisis abundance of vacant, undervalued properties and the demand for professional rental management. The formal formation of Invitation Homes occurred in early , backed by private equity giant Blackstone Group, which provided substantial capital to acquire and rehabilitate distressed single-family homes for rental. The company's inaugural purchase took place in April in Phoenix, targeting neighborhoods with high vacancy rates to stabilize local markets through renovations and leasing. This partnership leveraged Treehouse's on-the-ground expertise in with Blackstone's financial firepower, marking the birth of the modern institutional single-family rental sector. Tanner assumed the role of Executive Vice President and , overseeing acquisitions, while Greiwe contributed as to integrate operational efficiencies. By the end of , Invitation Homes had rapidly scaled its portfolio, focusing on high-quality renovations to attract renters in key markets.

Expansion via Bulk Purchases (2012-2017)

Invitation Homes began acquiring single-family homes in April 2012, starting with its first purchase in , amid the post-2008 housing market recovery where foreclosed properties (REO) were abundant and priced low. The company, backed by Blackstone's capital, targeted markets heavily impacted by the foreclosure crisis, including Phoenix, , , , and , where local teams sourced properties from banks, auctions, brokers, and smaller owners. This approach enabled rapid portfolio growth, with acquisitions shifting from predominantly distressed sales early on to about 67% non-distressed by late 2016. Although 94% of homes were obtained through single-asset transactions to ensure via on-site evaluations, Invitation Homes supplemented this with bulk portfolio purchases from financial institutions unloading REO inventories, allowing for quicker scale in high-volume areas. In bulk deals, properties were assessed individually post-acquisition, with underperforming assets sometimes divested to align with criteria focused on suburban homes suitable for families. These methods capitalized on discounted pricing—averaging around $166,000 per home—while Blackstone provided the funding for an estimated $8.3 billion in purchases by late 2016. By the end of 2016, the portfolio reached nearly 50,000 homes, followed by further acquisitions leading into the 2017 IPO, with over $1.2 billion additionally invested in renovations to standardize properties for leasing. This expansion phase established Invitation Homes as the largest single-family rental operator, emphasizing operational efficiency through centralized renovation, leasing, and management processes applied to bulk-sourced inventories. The strategy reflected causal dynamics of the housing recovery: high supply of distressed assets met institutional demand for yield-generating rentals, though it drew scrutiny for concentrating ownership in select neighborhoods.

IPO, Merger, and Ongoing Growth (2017-Present)

On February 6, 2017, Invitation Homes completed its (IPO) on the under the ticker symbol INVH, raising approximately $1.8 billion through the sale of 88,550,000 shares of priced at $20.00 per share. The IPO provided capital for debt reduction and operational scaling following years of private equity-backed acquisitions, marking Invitation Homes as one of the first major single-family rental real estate investment trusts (REITs) to go public. In August 2017, Invitation Homes announced a merger of equals with Starwood Waypoint Homes, valued at approximately $4.3 billion in an all-stock transaction, which closed on November 16, 2017. Under the terms, each Starwood Waypoint share converted into 1.614 Invitation Homes shares, resulting in Invitation Homes shareholders owning about 59% of the combined entity and Starwood Waypoint shareholders owning 41%. The merger created a portfolio of roughly 82,000 homes across 16 markets, enhancing scale in , technology platforms, and geographic diversification while aiming to achieve operational synergies estimated at $30-40 million annually. Post-merger, Invitation Homes focused on , including selective divestitures of underperforming assets, before resuming expansion through targeted acquisitions in high-growth suburban markets. By , the company reported total revenue of $2.59 billion, a 7.29% increase from the prior year, driven by rental rate growth and rates averaging above 95% in core markets. In the second quarter of 2025, revenues reached $681 million, up 4.3% year-over-year, with reflecting stable operations amid market headwinds like elevated interest rates. The firm has sustained growth for nine consecutive years since the IPO, with a five-year of 16.6%, and expanded its holdings by acquiring over $100 million in new properties in mid-2025, reaffirming full-year guidance for core funds from operations (FFO) growth. In January 2026, Invitation Homes acquired ResiBuilt, a build-to-rent developer, for $89 million plus up to $7.5 million in potential earn-out payments, to enhance its development capabilities. As an constituent, Invitation Homes has leveraged its scale to integrate resident-facing technologies and build-to-rent developments, positioning for further growth in the single-family rental sector despite macroeconomic pressures.

Corporate Structure

Leadership and Key Executives

Dallas B. Tanner serves as President, , and Director of Invitation Homes, roles he has held since co-founding the company and through its evolution into a publicly traded REIT. Tanner, aged 44 as of recent filings, oversees strategic direction, including portfolio expansion and operational scaling, with reported total compensation of approximately $10.97 million in the latest disclosed , comprising salary, bonuses, and equity awards. The board of directors is chaired by , who assumed the position in 2021 after joining the board in November 2017; Fascitelli, aged 68, brings extensive experience from prior roles, including as a managing partner at Imperial Companies. Other board members include Jana Cohen Barbe and, as of May 2025, Kellyn Smith Kenny, who serves as Chief Marketing & Growth Officer at . Among key executives, Jonathan S. Olsen holds the position of Executive Vice President, , and , appointed in June 2023, managing financial planning, capital markets, and quantitative analysis with a team of 17. Scott G. Eisen serves as Executive Vice President and , focusing on strategies and acquisitions. Timothy J. Lobner is Executive Vice President and , overseeing day-to-day rental operations and . Additional senior leaders include Peter DiLello as Senior Vice President of the Group and Mark Solls as Executive Vice President of Legal.

Ownership Evolution and Major Investors

Invitation Homes was established in 2012 as a wholly owned of the Blackstone Group, which capitalized on the post-2008 by acquiring large portfolios of distressed single-family homes at discounted prices, investing approximately $10 billion to build a portfolio exceeding 50,000 properties. Blackstone maintained full control during this phase, positioning Invitation Homes as a pioneer in the institutional single-family rental sector. In January 2017, Invitation Homes conducted an initial public offering (IPO) on the New York Stock Exchange under the ticker INVH, raising $1.54 billion through the sale of 77 million shares priced at $20 each, while Blackstone retained a substantial ownership stake of around 34% post-IPO. Later that year, in August 2017, Invitation Homes merged with Starwood Waypoint Homes—a publicly traded single-family rental REIT sponsored by Starwood Capital—in an all-stock transaction valued at approximately $4.3 billion, creating the largest such entity with over 80,000 homes; Invitation Homes shareholders held about 59% of the combined company, with Starwood Waypoint holders receiving 1.614 Invitation Homes shares per their share. The merger, completed in November 2017, retained the Invitation Homes name and structure as a real estate investment trust (REIT), with an umbrella partnership real estate investment trust (UPREIT) format where the operating partnership holds most assets. Blackstone began divesting its holdings in 2019, selling over $1 billion in shares in May and completing its full exit in November 2019 through a secondary offering of 57.6 million shares, after which it no longer beneficially owned any stake in the company. This transition marked Invitation Homes' shift to a broadly held , with dispersing among institutional investors; by late 2019, institutional exceeded 90%, insiders held less than 1%, and comprised the remainder. As of mid-2025, Invitation Homes remains a publicly traded REIT with approximately 613 million and high institutional ownership exceeding 100% due to overlapping holdings. Major investors include (holding about 94 million shares or roughly 15%), (around 60 million shares or 10%), Norges Bank Investment Management (51.6 million shares or 8.4%), Cohen & Steers (significant real estate-focused stake), and State Street Global Advisors (about 36 million shares or 6%).
Major Institutional Holders (as of Q1 2025)Shares HeldApproximate Ownership %
Vanguard Group Inc.94,306,90115.4%
BlackRock Inc.60,802,1579.9%
Norges Bank Investment Management51,646,0888.4%
Cohen & Steers Inc.~40 million (est.)~6.5%
State Street Global Advisors~36 million (est.)~5.9%
These figures reflect filings with the U.S. Securities and Exchange Commission and underscore the company's appeal to passive index funds and specialists, with no single entity holding post-Blackstone's exit.

Business Model

Property Acquisition Strategies

Invitation Homes primarily acquires single-family homes through a combination of individual purchases, portfolio acquisitions, and partnerships with homebuilders, targeting high-growth markets such as , , and Phoenix. In transaction records such as property sales, tax documents, deeds, or real estate listings (e.g., Zillow or county appraisal sites), "INVH" commonly abbreviates Invitation Homes as the owner, seller, or involved party, reflecting its status as a publicly traded REIT with stock ticker INVH. Early in its operations, the company focused on bulk purchases of foreclosed properties during the post-2008 , leveraging to amass inventory rapidly; by March 2013, it had invested approximately $3.5 billion to acquire around 20,000 homes through foreclosure auctions, local brokers, and distressed seller transactions. This approach involved both single-asset deals and larger REO () portfolios from banks, with about 94% of its initial nearly 50,000-home portfolio sourced via individual acquisitions despite the emphasis on volume. In recent years, Invitation Homes has shifted toward acquiring newly constructed homes via direct agreements with builders, reflecting a strategy to secure modern, amenity-rich properties suited for rental demand. For instance, in June 2025, the company partnered with homebuilders to purchase over 300 new single-family homes for more than $100 million, while launching a developer lending program to projects aligned with its rental model. Similar deals include September 2024 agreements for 580 homes from builder partners at a of about $200 million, and a 2024 expected to deploy up to $500 million (including debt) for newly built rentals. These builder collaborations, such as a strategic relationship with for up to 7,500 build-to-rent homes, enable Invitation Homes to influence property specifications like location and features to optimize occupancy and yields. The company also pursues opportunistic portfolio buys from institutional sellers, exemplified by a September 2023 acquisition of nearly 1,900 rental homes for $650 million and bulk transfers like the January 2024 purchase of 264 Clark County homes from Starwood Capital for $98 million. For 2024, Invitation Homes allocated $600 million to $1 billion for core acquisitions, supplemented by $100 million to $300 million in off-market deals from motivated sellers, emphasizing properties in supply-constrained areas to drive rental growth. This diversified approach balances cost efficiency from scale with quality control over newer assets, though it has drawn scrutiny for potentially inflating local home prices through concentrated buying in select neighborhoods.

Rental Operations and Tenant Management

Invitation Homes manages a portfolio of approximately 85,000 wholly-owned single-family homes, focusing on resident acquisition, leasing, collections, and to sustain high rates averaging 97.3% for 2024. The company's operations emphasize technology integration, including smart home systems in properties and resident portals for payments and requests, alongside a turnover rate of 6.2% and as 0.6% of gross rental revenue in the second quarter of 2025. Tenant screening occurs prior to leasing, requiring household of at least three times the monthly rent, a favorable verified through third-party services like , no open bankruptcies, and no prior evictions by Invitation Homes. Applicants must submit valid U.S. government-issued photo identification, Social Security card or number, and proof of income for TransUnion's credit and background screening; TransUnion may flag unverifiable information, potentially leading to denial or requests for additional verification documents, and Invitation Homes does not accept scanned PDFs, printed-to-PDF documents, or altered files. A model assesses applications, determining approval, conditional approval with additional deposit, or denial; all adults over 18 must apply and pay a non-refundable up to $55. Processing typically completes within two business days after submission of documents such as recent paystubs or bank statements. Post-leasing management includes online rent payments, with late fees accruing on overdue amounts to mitigate delinquency risks that could lead to proceedings. Maintenance requests are submitted via a dedicated or 24/7 (888-330-4969), enabling status tracking; the ProCare program conducts proactive inspections and repairs to preserve property condition. In cases of damage, such as flooding or storms, immediate reporting triggers technician response. Regulatory oversight has shaped practices, as evidenced by a September 2024 FTC settlement requiring $48 million in refunds to tenants for alleged deceptive disclosures—such as undisclosed monthly charges totaling $1,700 annually—and improper withholdings, alongside mandates for transparent pricing and deposit policies. Invitation Homes has also expanded into third-party , offering to external single-family rental portfolio owners.

Build-to-Rent Initiatives and Technology Integration

Invitation Homes has pursued build-to-rent (BTR) initiatives to develop and acquire new single-family rental communities, contributing to expanded housing supply amid rising demand. In 2023, the company added 718 BTR homes to its portfolio, with acquisitions exceeding 1,300 in 2024 as part of efforts to address market shortages. These initiatives focus on high-quality homes in desirable locations, often featuring amenities like community pools and flexible leasing to attract renters unable to purchase amid elevated home prices. Key expansions include strategic partnerships with homebuilders and developers. On April 30, 2024, Invitation Homes entered a with Quarterra (a subsidiary), , and other investors, acquiring a minority equity stake in the Upward America portfolio of lease-ready single-family homes. In May 2024, it partnered with 's Quarterra for BTR management, emphasizing single-family lifestyles in rental formats. By June 2024, the company incorporated 1,000 additional BTR single-family rentals, aligning with national trends where construction started on 80,000 such units over the prior year—a 16% increase from the previous period. Invitation Homes has also secured discounts from builders on excess inventory to accelerate portfolio growth, entering markets like North Carolina's Triad region with the October 2025 acquisition of the Cherry Creek community in Graham. Technology integration supports BTR operations and resident services, with smart home features standard in many properties to enhance convenience and efficiency. These include video doorbells for motion alerts, keyless entry systems, and remote-access thermostats controllable via smartphone apps, enabling and security monitoring. The company's resident app, updated as of September 26, 2025, integrates these controls alongside lease management, air filter delivery, and utility services under the "Lease Easy" package. Operationally, Invitation Homes employs a unified technology platform post-merger to streamline , incorporating AI for leasing processes and maintenance predictions to reduce response times. The Transformation and Innovation Office, established by March 2024, drives these enhancements, including SmartRent app features for door locks and climate control, while ensuring associate tools for secure, data-driven workflows. Most new BTR inventory incorporates these technologies from inception, differentiating communities through tech-enabled amenities over traditional scattered-site rentals.

Financial Performance

Revenue Growth and Key Metrics

Invitation Homes has demonstrated consistent revenue expansion since its initial public offering in 2017, driven primarily by portfolio growth through acquisitions, organic rent increases, and high occupancy rates in its single-family rental properties. Annual total revenue reached $2.432 billion in 2023, reflecting an 8.68% increase from $2.238 billion in 2022, followed by $2.619 billion in 2024, a 7.67% year-over-year rise attributable to higher rental rates and an expanded home count exceeding units. Trailing twelve-month revenue as of mid-2025 stood at approximately $2.65 billion, underscoring sustained momentum amid moderating but positive same-home revenue growth. In the first half of 2025, quarterly revenues continued this trajectory, with Q1 totaling $674.5 million (up 4.4% from $646.0 million in Q1 2024) and Q2 at $681.4 million (a 4.3% increase from $653.5 million in Q2 2024), propelled by blended rent growth of 4.0%, including 4.7% on renewals and 2.2% on new leases. Key operational metrics supporting this include same-store core growth of 2.4% and net operating income (NOI) growth of 2.5% in Q2 2025, alongside rates consistently above 98% across markets. Funds from operations (FFO), a critical REIT , adjusted to $0.26 per diluted share in Q2 2025, reflecting efficient cost management with property operating expenses rising in line with revenues at 4.3% to $244 million.
YearTotal Revenue ($B)YoY Growth (%)
20222.238-
20232.4328.68
20242.6197.67
Broader financial health metrics as of ending Q2 2025 include gross profit of $1.55 billion and EBITDA of $1.45 billion, indicating robust margins in the single-family rental sector despite macroeconomic pressures like fluctuations. Revenue diversification features rental income comprising over 95% of totals, supplemented by resident fees and ancillary services, with geographic concentration in high-growth markets contributing to resilience.

Market Valuation and Investor Returns

As of October 21, 2025, Invitation Homes Inc. (NYSE: INVH) had a of approximately $17.53 billion, reflecting a around $28.91 and roughly 607 million . The company's enterprise value stood at about $25.70 billion, incorporating net debt of roughly $8.11 billion. Valuation multiples included a trailing -to-earnings ratio of 32.25 and an EV/EBITDA ratio of 10.2, based on last twelve months (LTM) EBITDA of $1.5 billion from revenues of $2.7 billion as of September 2025. These metrics positioned Invitation Homes at a premium to some residential REIT peers on P/E but competitively on EV/EBITDA, amid analyst views of fair to undervalued status; for instance, models suggested intrinsic value near $29.77 per share, implying limited upside from the then-current . Since its on February 1, 2017, at $20 per share, Invitation Homes' reached an all-time high closing of $40.06 on December 31, 2021, before declining amid broader market pressures. By October 2025, the share had moderated to around $28–$29, delivering a price appreciation of approximately 40–45% from IPO levels over eight years, though total returns including reinvested were tempered by volatility; the five-year annualized total return through mid-2025 was about 16.87%, while one-year returns were negative at -12.78% and year-to-date at -7.20%. The stock declined further in late 2025, falling approximately 18% year-to-date by December due to sluggish net income growth, modest revenue gains, rising property expenses, increased supply in key markets, and waning real estate sector sentiment. In early 2026, it experienced a sharper drop, reaching a 52-week low of around $25.95 in January, primarily triggered by investor fears over President Trump's proposed policy restricting large institutional investors from purchasing single-family homes, resulting in a sector-wide selloff with INVH dropping about 6.9% on the announcement day. As a REIT, Invitation Homes distributes most as , with a trailing annual dividend of $1.15 per share yielding 3.98% at October 2025 , and a forward yield of around 4.07%; quarterly payouts were consistently $0.28 since late 2023, though the payout ratio exceeded 129% of earnings, signaling reliance on cash flows for sustainability. analyses have highlighted total shareholder returns as driven by growth offsetting property market cycles, with some upgrades to "strong buy" ratings in 2025 citing undervaluation relative to peers' FFO multiples averaging 18.14.

Economic and Market Impact

Role in Single-Family Rental Sector

Invitation Homes operates as the largest institutional owner and manager of single-family rental () properties in the United States, with a portfolio exceeding homes across 17 markets as of recent reports. The focuses on acquiring, renovating, and leasing updated single-family homes in desirable suburban neighborhoods, emphasizing professional management services such as online payments, coordination, and resident support to differentiate from traditional mom-and-pop landlords. This model positions Invitation Homes as a pioneer in scaling SFR operations through institutional , enabling consistent upgrades and standardized tenant experiences that smaller owners often cannot match. Despite its scale, Invitation Homes holds a modest share of the overall SFR market, owning less than 0.5% of the approximately 16.2 million single-family rental homes nationwide, with institutional investors collectively comprising a small fraction of the sector dominated by individual landlords holding 1 to 5 properties (89.6% of rentals). The firm's presence has contributed to professionalizing management by introducing technology-driven efficiencies, such as streamlined leasing platforms and , which enhance rates—reported at 97.4% in fiscal 2023—and support steady rental income growth amid housing affordability challenges. Invitation Homes plays a targeted role in expanding SFR supply through build-to-rent developments and acquisitions, adding over 1,600 homes in Q2 2025 alone via purchases totaling $563 million, while institutional practices like theirs influence industry standards for tenant relations and property upkeep across hundreds of thousands of units. By providing rental options in high-demand areas, the company addresses demand from households unable or unwilling to buy amid elevated home prices, though its impact remains incremental relative to the fragmented market structure. In January 2026, President Donald Trump announced immediate steps to prevent large institutional investors from purchasing additional single-family homes, stating that "people live in homes, not corporations," and indicated plans to call on Congress to codify the ban in order to address housing affordability concerns. The announcement resulted in a decline of approximately 6-7% in Invitation Homes' stock price.

Contributions to Housing Supply and Stability

Invitation Homes operates approximately 85,000 single-family rental homes across 16 U.S. markets as of June 2025, contributing to the national rental housing inventory by converting owned properties into leased units that serve households unable to purchase amid high home prices and mortgage rates. This portfolio represents less than 1% of single-family detached homes in each of its operational markets, ensuring that the company's presence does not dominate local supply dynamics. By professionalizing single-family rentals—historically managed by smaller, individual landlords—Invitation Homes enhances the overall availability of maintained, amenity-equipped housing options, particularly in suburban areas where demand for family-sized rentals exceeds traditional multifamily supply. The company has actively expanded housing supply through build-to-rent (BTR) initiatives, partnering with developers to construct new communities tailored for leasing rather than sale. In 2024, Invitation Homes acquired over 1,300 BTR homes, following 718 additions in 2023, with further investments exceeding $100 million in 2025 targeted at high-demand areas like and to deliver purpose-built rental stock. These efforts address chronic underbuilding in single-family segments, as BTR developments bypass constraints and directly augment leasable inventory without relying solely on existing resale stock. In terms of market stability, Invitation Homes' scale enables consistent property upkeep and renovations, which preserve housing stock quality and mitigate vacancy risks compared to fragmented small-landlord operations. Empirical analyses indicate that institutional investors like Invitation Homes improve neighborhood conditions by rehabilitating distressed properties, as seen post-2008 absorptions that stabilized inventory overhang without exacerbating shortages. Professional management also supports occupancy rates above 95%, reducing turnover disruptions and providing predictable rental availability during economic volatility. Collectively, such contributions counter narratives of supply constriction, with institutional single-family rentals comprising only about 3% of the sector and insufficient overall —rather than investor activity—identified as the primary driver of affordability pressures.

Controversies and Criticisms

Tenant Relations and Maintenance Allegations

In September 2024, the (FTC) alleged that Invitation Homes deceived renters by advertising properties as pre-inspected and backed by reliable maintenance services, while in reality, between 2018 and 2023, 33,328 homes required work orders within one week of move-in for issues including failures, electrical problems, HVAC malfunctions, mold, broken appliances, and infestations. The FTC further claimed that the company's promised "24/7 emergency maintenance" was often unavailable, leaving tenants in unsafe conditions such as unheated homes during winter or persistent flooding. These maintenance shortcomings contributed to allegations of unfair practices, where Invitation Homes reportedly withheld portions of deposits for pre-existing damages, normal wear-and-tear, or even company-initiated renovations, returning only 39.2% of deposits between 2020 and 2022 compared to a national average of 63.9%. Tenant complaints documented by the (BBB) since 2016, exceeding 600 by 2019 and reaching 1,800 in the last three years as of 2024, frequently highlighted delays in repairs, inadequate fixes such as painting over without mold remediation, and unresponsiveness to pest infestations or structural issues. Earlier reports from 2018, based on interviews with 20 tenants across multiple states, described patterns of homes delivered with violations like non-functional windows, illegal renovations, and mold, alongside ignored repair requests—sometimes up to 27 work orders per tenant—and threats of chargebacks for fixes the company failed to perform. Invitation Homes responded to such complaints by asserting multi-point pre-move-in inspections and offering escalations to corporate offices, citing 99.8% favorable tenant survey ratings at the time, though critics noted potential survey manipulation, such as altering descriptions of issues like mold to "discoloration." The FTC case concluded with a $48 million settlement in September 2024, requiring Invitation Homes to refund affected tenants, disclose all fees upfront, implement fairer deposit policies, and cease deceptive claims about inspections and maintenance without admitting wrongdoing. The company stated the agreement resolves the matter and aligns with ongoing efforts to enhance transparency and service, amid broader tenant relations scrutiny including a January 2024 settlement over related unlawful practices. In September 2024, the (FTC) filed a complaint against Invitation Homes alleging violations of Section 5 of the FTC Act through deceptive and unfair practices, including misleading advertisements that omitted mandatory junk fees totaling over $1,700 annually per household, failure to conduct pre-move-in inspections resulting in 33,328 properties requiring repairs within a week of occupancy between 2018 and 2023, unfair withholding of security deposits (returning only 39.2% compared to a national average of 63.9% from 2020 to 2022), and aggressive tactics such as filing post-move-out evictions and inadequate notifications during the . Invitation Homes agreed to a settlement requiring of $48 million in redress with no admission of wrongdoing or civil penalties; the U.S. District Court for the Northern District of Georgia approved the order in 2024. The settlement mandates full disclosure of mandatory fees in advertised rental prices, prohibitions on withholding deposits for normal wear-and-tear or pre-existing conditions, notifications to evictees about rental assistance programs, cessation of post-move-out filings after tenant notice, destruction of certain , and employee training on compliance. In January 2024, Attorney General announced a settlement resolving allegations that Invitation Homes violated the state's Tenant Protection Act and price-gouging prohibitions by imposing unlawful rent increases exceeding 5% plus local cost-of-living adjustments on approximately 1,900 properties from late 2019 to 2022. The company agreed to pay $2.04 million in civil penalties, provide $1.68 million in refunds or credits to affected tenants including 5% , restore lawful rent rates, conduct quarterly compliance audits, monitor for emergencies, from excess rents, ensure accurate credit reporting, and submit annual reports to the Department of Justice for five years. In October 2024, Invitation Homes settled a lawsuit under the False Claims Act, filed in the U.S. District Court for the Southern District of (Case No. 22-cv-0260-BAS-MMP), for $19.9 million to resolve claims of renovating approximately 12,000 single-family homes without required building permits, thereby evading permit fees, taxes, and undermining tenant safety and municipal revenues in 35 cities. The whistleblower relator received about $4.6 million, representing 20% of the recovery.

Company Defenses and Market Context

Invitation Homes has responded to regulatory scrutiny, including the September 2024 Federal Trade Commission settlement requiring $48 million in consumer refunds for alleged deceptive practices on fees and maintenance disclosures, by stating the agreement involves no admission of wrongdoing and no civil penalties, while affirming its commitment to transparency and resident experience enhancements. The company highlights post-settlement measures, such as prominent disclosure of total monthly leasing prices exceeding base rent and improved complaint handling protocols, as evidence of proactive compliance without conceding prior fault. In defending against tenant allegations of inadequate and responsiveness, Invitation Homes cites internal metrics showing a 4.69-star average rating from resident maintenance surveys and a 4.38-star rating across and reviews, attributing these to standardized protocols, for service requests, and investments in property rehabilitations that upgrade distressed homes to modern standards. The firm contrasts its scale-enabled efficiencies—such as 24/7 emergency response promises backed by dedicated teams—with the variability of small-scale landlords, noting that anecdotal complaints represent a minority amid high rates exceeding 97% as of 2024. It also points to programs like rent reporting partnerships with Esusu, which have improved scores for 58% of participants by an average of 38 points, facilitating transitions to homeownership for 25% of departing tenants. Within the broader single-family rental (SFR) market, institutional investors like Invitation Homes, which owns approximately 84,000 homes or about 0.1% of the nation's 82 million single-family homes, occupy a limited niche dominated by individual owners managing 80% of properties with 50 or fewer units. This model emerged post-2008 financial crisis to rehabilitate foreclosed inventory, stabilizing neighborhoods by restoring habitability and providing rental options in high-demand areas where homeownership costs exceed renting by over $1,000 monthly amid elevated interest rates near 8% in 2022-2024. Studies indicate such investors contribute to housing stock quality improvements and supply additions via build-to-rent initiatives—Invitation Homes added 648 new units in 2023—without significantly impeding overall homeownership rates, which stood at 65.9% in 2022 despite supply shortages of 4-7 million units. While acknowledging potential localized rent pressures, the sector's institutional segment, under 5% of SFR inventory, offers professional management advantages over fragmented alternatives, including cost savings and consistent upkeep.

References

  1. https://ir.invitationhomes.com/
  2. https://www.resiclubanalytics.com/p/institutional-landlord-invitation-homes-homebuilding-housing-market-build-to-rent-bet-resibuilt
  3. https://www.invitationhomes.com/about-us
  4. https://www.invitationhomes.com/
  5. https://behindthedeals.com/2017/03/15/the-story-and-lessons-behind-invitation-homes-blackstones-acquisition-of-50000-single-family-homes-for-10-billion-between-2012-and-2016/
  6. https://www.resiclubanalytics.com/p/blackstone-will-thirdlargest-us-singlefamily-portfolio-completes-tricon-residential-acquisition
  7. https://www.invitationhomes.com/blog/our-share-of-the-u-s-housing-market
  8. https://www.investing.com/news/swot-analysis/invitation-homes-swot-analysis-singlefamily-rental-giant-faces-supply-headwinds-93CH-4190904
  9. https://www.invh.com/news-events/news/news-details/2026/Invitation-Homes-Acquires-ResiBuilt-to-Enhance-Development-Capabilities-and-Deliver-More-Housing-Solutions-for-American-Families/default.aspx
  10. https://www.invitationhomes.com/get-the-facts
  11. https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-takes-action-against-invitation-homes-deceiving-renters-charging-junk-fees-withholding-security
  12. https://www.businesswire.com/news/home/20250730765415/en/Invitation-Homes-Reports-Second-Quarter-2025-Results
  13. https://www.invh.com/corporate-overview/executive-management/default.aspx
  14. https://www.dmagazine.com/publications/d-ceo/2018/april/invitation-homes-rental-dallas/
  15. https://medium.com/fifth-wall-insights/the-institutionalization-of-an-emerging-asset-class-the-origin-story-of-invitation-homes-1f949603a231
  16. https://www.sec.gov/Archives/edgar/data/1687229/000119312517004519/d260125ds11.htm
  17. https://www.jpmorgan.com/content/dam/jpm/securities/documents/deal-docs/2017/q1/f-j/invh-ered-01232017.pdf
  18. https://www.forbes.com/sites/antoinegara/2017/01/06/blackstones-big-bet-on-the-u-s-housing-recovery-files-to-go-public/
  19. https://www.sec.gov/Archives/edgar/data/1687229/000168722918000018/a12312017ihallfs10k.htm
  20. https://www.prnewswire.com/news-releases/invitation-homes-completes-18-billion-initial-public-offering-300402856.html
  21. https://www.sec.gov/Archives/edgar/data/1687229/000168722917000005/a123116ihallfs10k.htm
  22. https://www.invh.com/news-events/news/news-details/2017/Invitation-Homes-Prices-Initial-Public-Offering-2017-1-31/default.aspx
  23. https://www.invh.com/news-events/news/news-details/2017/Invitation-Homes-and-Starwood-Waypoint-Homes-Announce-Merger-to-Create-Best-in-Class-Single-Family-Rental-Company-2017-8-10/default.aspx
  24. https://www.housingwire.com/articles/41839-invitation-homes-starwood-waypoint-homes-merge-to-create-largest-single-family-landlord/
  25. https://www.reit.com/news/articles/single-family-rental-reits-invitation-homes-starwood-waypoint-to-merge
  26. https://www.starwoodcapital.com/news/2017/starwood-waypoint-homes-invitation-homes-announce-4-3-billion-merger/
  27. https://www.wealthmanagement.com/estate-planning/invitation-homes-eyes-next-80-000-houses-as-suburbs-boom
  28. https://stockanalysis.com/stocks/invh/
  29. https://finance.yahoo.com/news/invitation-homes-reports-second-quarter-201500626.html
  30. https://seekingalpha.com/article/4811806-invitation-homes-invh-low-hanging-fruit-in-us-housing-market
  31. https://www.investing.com/news/company-news/invitation-homes-expands-with-over-100-million-in-new-properties-93CH-4076709
  32. https://invh.com/
  33. https://finance.yahoo.com/quote/INVH/profile/
  34. https://simplywall.st/stocks/us/real-estate/nyse-invh/invitation-homes/management
  35. https://www.morningstar.com/stocks/xnys/invh/executive
  36. https://www.invh.com/corporate-overview/board-of-directors/default.aspx
  37. https://www.globaldata.com/company-profile/invitation-homes-inc/executives/
  38. https://www.cnbc.com/2017/01/31/invitation-homes-raises-154-billion-in-ipo-source.html
  39. https://app.dealroom.co/companies/invitation_homes
  40. https://www.housingwire.com/articles/49216-blackstone-sells-off-more-than-1-billion-in-shares-of-invitation-homes/
  41. https://www.invh.com/news-events/news/news-details/2019/Invitation-Homes-Announces-Secondary-Offering-of-57600000-Shares-of-Common-Stock-2019-11-20/default.aspx
  42. https://www.tipranks.com/stocks/invh/ownership
  43. https://www.nasdaq.com/market-activity/stocks/invh/institutional-holdings
  44. https://www.investing.com/equities/invitation-homes-inc-ownership
  45. https://fintel.io/so/us/invh
  46. https://www.marketscreener.com/quote/stock/INVITATION-HOMES-INC-33666530/company/
  47. https://swotanalysisexample.com/blogs/owners/invitationhomes-owners
  48. https://ir.invitationhomes.com/stock-information
  49. https://www.invh.com/news-events/news/news-details/2024/Invitation-Homes-Announces-Acquisitions-Update/default.aspx
  50. https://www.latimes.com/archives/la-xpm-2013-mar-16-la-fi-housing-investors-20130317-story.html
  51. https://www.invh.com/news-events/news/news-details/2025/Invitation-Homes-Announces-Acquisitions-Update-and-Launch-of-Developer-Lending-Program/default.aspx
  52. https://dallasinnovates.com/dallas-invitation-homes-announces-200m-joint-venture-to-acquire-newly-constructed-homes-as-rentals/
  53. https://www.jonesday.com/en/practices/experience/2023/09/invitation-homes-completes-%24650-million-acquisition-of-singlefamily-rental-home-portfolio
  54. http://horsford.house.gov/media/in-the-news/swapping-homes-like-stocks-wall-street-backed-firm-buys-264-valley-homes-in-a-day
  55. https://www.globest.com/2024/02/20/invitation-homes-to-spend-up-to-1b-buying-houses-this-year/
  56. https://www.housingwire.com/articles/watchdog-report-institutional-investors-may-have-contributed-to-increasing-home-prices/
  57. https://s28.q4cdn.com/264003623/files/doc_financials/2024/ar/INVH-AR_BMK.pdf
  58. https://finance.yahoo.com/news/invitation-homes-reports-fourth-quarter-211500669.html
  59. https://www.invitationhomes.com/qualify
  60. https://www.invitationhomes.com/before-you-apply
  61. https://newsroom.transunion.com/renters-gain-easier-access-to-properties-with-transunion-and-invitation-homes-partnership/
  62. https://www.invitationhomes.com/application-documents
  63. https://www.invitationhomes.com/fees
  64. https://www.invitationhomes.com/how-to-apply
  65. https://www.invitationhomes.com/faqs-applying-for-a-home
  66. https://www.invitationhomes.com/late-rent
  67. https://www.invitationhomes.com/maintenance-service-requests
  68. https://www.invitationhomes.com/procare
  69. https://play.google.com/store/apps/details?id=com.starlight.mobile.app.client.ih&hl=en_US
  70. https://www.invitationhomes.com/steps-to-take-if-there-is-damage-to-your-home
  71. https://www.latimes.com/california/story/2024-09-24/single-family-landlord-invitation-homes-charged-junk-fees-employed-unfair-eviction-practices-ftc-alleges
  72. https://www.invitationhomes.com/value-of-third-party-property-management
  73. https://www.invitationhomes.com/reflecting-on-2024
  74. https://www.invitationhomes.com/build-to-rent-allows-residents-to-lease-their-dream-home
  75. https://www.invh.com/news-events/news/news-details/2024/Invitation-Homes-Announces-Joint-Venture-With-Quarterra--a-Lennar-Company-Centerbridge-and-Other-Capital-Partners/default.aspx
  76. https://www.costar.com/article/1037772022/residential-giant-invitation-homes-lennar-subsidiary-partner-on-build-to-rent-management-bet
  77. https://www.costar.com/article/931566310/invitation-homes-adds-1000-new-single-family-rentals-to-portfolio-plans-for-more
  78. https://www.resiclubanalytics.com/p/invitation-homes-says-homebuilders-are-offering-them-pretty-significant-discounts-to-move-housing-ma
  79. https://www.bizjournals.com/triad/news/2025/10/21/meritage-invitation-homes-cherry-creek-graham-nc.html
  80. https://www.invitationhomes.com/smarthomes
  81. https://www.invitationhomes.com/blog/the-simplicity-of-your-smart-home
  82. https://play.google.com/store/apps/details?id=com.invitationhomes.invitationhomesapp&hl=en_US
  83. https://innovationhomes.pages.dev/posts/innovationhomes/
  84. https://www.invitationhomes.com/resident-journey-tech-ai
  85. https://www.invitationhomes.com/transformation-and-innovation
  86. https://www.reit.com/news/articles/invitation-homes-using-tech-to-elevate-the-resident-associate-experience-
  87. https://www.macrotrends.net/stocks/charts/INVH/invitation-home/revenue
  88. https://stockanalysis.com/stocks/invh/revenue/
  89. https://www.marketbeat.com/stocks/NYSE/INVH/financials/
  90. https://quartr.com/companies/invitation-homes-inc_6364
  91. https://finance.yahoo.com/quote/INVH/key-statistics/
  92. https://www.globaldata.com/company-profile/invitation-homes-inc/financials/
  93. https://www.macrotrends.net/stocks/charts/INVH/invitation-home/market-cap
  94. https://www.alphaspread.com/security/nyse/invh/summary
  95. https://valueinvesting.io/INVH/valuation/ev_ebitda-multiples
  96. https://multiples.vc/public-comps/invitation-homes-valuation-multiples
  97. https://simplywall.st/stocks/us/real-estate/nyse-invh/invitation-homes/news/does-invitation-homes-share-price-offer-opportunity-after-la
  98. https://www.macrotrends.net/stocks/charts/INVH/invitation-home/stock-price-history
  99. https://www.nasdaq.com/market-activity/ipos/overview?dealId=1011996-82545
  100. https://www.financecharts.com/stocks/INVH/performance/total-return
  101. https://www.barchart.com/story/news/36549619/is-invitation-homes-stock-underperforming-the-dow
  102. https://www.gurufocus.com/news/4100224/invitation-homes-invh-stock-falls-amid-trumps-housing-policy-proposal
  103. https://www.dividend.com/stocks/real-estate/reit/other/invh-invitation-homes-inc/
  104. https://www.invh.com/stock/dividend-history/default.aspx
  105. https://seekingalpha.com/article/4825611-invitation-homes-upgrading-to-strong-buy
  106. https://www.invitationtenants.com/about-invitation-homes/
  107. https://rentalrealestate.com/company/largest-companies/single-family/
  108. https://www.datainsightsmarket.com/companies/INVH
  109. https://www.invitationhomes.com/blog/who-we-are-invitation-homes-history-and-business
  110. https://www.resiclubanalytics.com/p/mom-and-pop-landlords-still-dominate-the-single-family-rental-market-batchdata-finds
  111. https://seekingalpha.com/article/4793677-invitation-homes-lower-supply-strengthening-tailwind
  112. https://www.costar.com/article/2065018410/nations-largest-single-family-rental-landlord-to-buy-up-to-1-billion-in-houses-this-year
  113. https://www2.hl.com/pdf/2025/august-2025-sfr-market-update.pdf
  114. https://www.urban.org/sites/default/files/2023-04/A%2520Profile%2520of%2520Institutional%2520Investor%25E2%2580%2593Owned%2520Single-Family%2520Rental%2520Properties_0.pdf
  115. https://www.reit.com/news/articles/single-family-rental-reits-playing-key-role-in-boosting-housing-supply-and-allowing-families-to-live-in-neighborhoods-otherwise-not-accessible
  116. https://www.reuters.com/world/us/us-will-ban-large-institutional-investors-buying-single-family-homes-trump-says-2026-01-07/
  117. https://www.cbsnews.com/news/trump-ban-institutional-investors-single-family-homes/
  118. https://www.invitationhomes.com/role-of-single-family-rental-industry
  119. https://www.invitationhomes.com/build-to-rent-blog
  120. https://journalistsresource.org/home/single-family-homes-institutional-investors/
  121. https://www.aei.org/wp-content/uploads/2025/08/Reevaluating-the-Role-of-Institutional-Investors-in-U.S.-Housing-Market-final-v2.pdf?x85095
  122. https://www.gao.gov/assets/870/869193.pdf
  123. https://www.bbb.org/us/tx/dallas/profile/real-estate-rentals/invitation-homes-0875-90466743/complaints
  124. https://www.invitationtenants.com/high-profile-critics-of-invitation-homes/
  125. https://thecapitolforum.com/invitation-homes-tenants-say-rental-homes-poorly-maintained-violate-habitability-standards-and-local-housing-codes-company-deaf-to-concerns/
  126. https://www.invh.com/news-events/news/news-details/2024/Invitation-Homes-Reaches-Agreement-with-Federal-Trade-Commission/default.aspx
  127. https://oag.ca.gov/news/press-releases/attorney-general-bonta-announces-settlement-invitation-homes-over-unlawful-rent
  128. https://sanfordheisler.com/case/whistleblower-qui-tam/invitation-homes/
  129. https://www.hudsoncook.com/article/ftc%25E2%2580%2599s-invitation-homes-settlement-federal-consumer-protection-laws-in-rental-property-management/
  130. https://www.costar.com/article/1254913740/nations-biggest-single-family-landlord-raises-its-financial-forecast
  131. https://www.gao.gov/products/gao-24-106643
  132. https://www.richmondfed.org/publications/research/econ_focus/2024/q4_district_digest
  133. https://www.jchs.harvard.edu/blog/8-facts-about-investor-activity-single-family-rental-market
  134. https://www.callan.com/blog-archive/single-family-rental-homes/
Add your contribution
Related Hubs
User Avatar
No comments yet.