Invitation Homes Inc. (IVH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico de imóveis residenciais, a Invitation Homes Inc. (INVH) revolucionou o mercado imobiliário de aluguel, transformando casas unifamiliares em espaços de vida flexíveis e de alta qualidade para locatários modernos. Ao alavancar a tecnologia de ponta, a aquisição estratégica de propriedades e uma abordagem centrada no cliente, essa empresa inovadora criou um modelo de negócios abrangente que atende às necessidades de moradias em evolução de jovens profissionais, famílias e transferências corporativas em diversos mercados. Mergulhe na intrincada tela do modelo de negócios que alimenta o notável sucesso da Invh e descubra como eles estão remodelando o ecossistema habitacional de aluguel.

Invitation Homes Inc. (IVH) - Modelo de negócios: Parcerias -chave

Empresas de investimento imobiliário

Invitation Homes colabora com as seguintes empresas de investimento imobiliário:

Empresa parceira	Detalhes da parceria	Volume de investimento
Parceiros imobiliários de Blackstone	Investidor institucional primário	US $ 8,2 bilhões de investimento inicial
Investidores institucionais globais	Parcerias de diversificação de portfólio	US $ 1,5 bilhão de acordos de co-investimento

Empresas de gerenciamento de propriedades

As principais parcerias de gerenciamento de propriedades incluem:

• Waypoint Management Residencial
• FirstService Residential
• Cushman & Serviços de gerenciamento de propriedades Wakefield

Provedores de serviços de manutenção e reparo locais

Provedor de serviços	Escopo de serviço	Valor anual do contrato
Mestre de Serviço	Rede Nacional de Manutenção	Contrato anual de US $ 42,5 milhões
HVAC local e contratados de encanamento	Serviços de reparo regional	US $ 18,3 milhões de contratos regionais

Instituições financeiras e credores hipotecários

Parcerias Financeiras Estratégicas:

• JPMorgan Chase
• Wells Fargo
• Bank of America

Instituição financeira	Tipo de parceria	Linha de crédito
JPMorgan Chase	Linha de crédito rotativo	US $ 1,2 bilhão
Wells Fargo	Empréstimos hipotecários	US $ 750 milhões

Provedores de serviços de tecnologia e software

Ecossistema de Parceria Tecnológica:

• Sistemas Yardi
• Manterx
• Appfolio

Provedor de tecnologia	Categoria de serviço	Investimento de tecnologia anual
Sistemas Yardi	Software de gerenciamento de propriedades	US $ 3,7 milhões
Manterx	Plataforma de gerenciamento de manutenção	US $ 1,2 milhão

Invitation Homes Inc. (IVH) - Modelo de negócios: Atividades -chave

Adquirir propriedades de aluguel residencial unifamiliar

A partir do quarto trimestre de 2023, as casas de convite possuíam 82.187 casas unifamiliares em 16 mercados nos Estados Unidos. A estratégia de aquisição de propriedades da empresa se concentra:

• Mercados -alvo com forte crescimento populacional
• Áreas com preços medianos de casas entre US $ 200.000 e US $ 500.000
• Bairros com alta demanda de aluguel

Métrica de aquisição	2023 dados
Propriedades totais de propriedade	82,187
Mercados cobertos	16
Custo médio de aquisição de propriedades	$330,000

Gerenciamento e manutenção de propriedades

As casas de convite aloca aproximadamente US $ 1.200 por propriedade anualmente para manutenção e reparos. A estratégia de manutenção da empresa inclui:

• Programas de manutenção preventiva
• Serviços de reparo de emergência 24 horas por dia, 7 dias por semana
• Plataformas de solicitação de manutenção digital

Métrica de manutenção	2023 dados
Gastos de manutenção anual por propriedade	$1,200
Tempo médio de resposta de reparo	24 horas
Solicitações de manutenção digital	78% do total de solicitações

Triagem e leasing inquilinos

A Invitation Homes processa aproximadamente 500.000 aplicativos de aluguel anualmente com um processo rigoroso de triagem.

Métrica de triagem do inquilino	2023 dados
Aplicações anuais de aluguel	500,000
Taxa de aprovação	35%
Duração média do arrendamento	24 meses

Otimização da propriedade de aluguel

A empresa utiliza a análise de dados para otimizar as taxas de preços e ocupação de aluguel.

Métrica de otimização	2023 dados
Taxa de ocupação	97.2%
Aluguel mensal médio	$2,145
Renda de aluguel por propriedade	US $ 25.740 anualmente

Operações imobiliárias orientadas por tecnologia

A Invitation Homes investe significativamente na infraestrutura tecnológica para gerenciamento de propriedades eficientes.

Métrica de tecnologia	2023 dados
Investimento de tecnologia anual	US $ 45 milhões
Adoção da plataforma digital	92%
Usuários de aplicativos móveis	78% dos inquilinos

Invitation Homes Inc. (IVH) - Modelo de negócios: Recursos -chave

Grande portfólio de casas de aluguel unifamiliar

A partir do quarto trimestre 2023, o Invitation Homes possui e opera 80.947 casas unifamiliares em 16 mercados metropolitanos nos Estados Unidos.

Mercado geográfico	Número de casas	Porcentagem de portfólio
Atlanta	15,234	18.8%
Fênix	12,456	15.4%
Tampa	8,765	10.8%
Outros mercados	44,492	55%

Plataforma avançada de tecnologia de gerenciamento de propriedades

A Invitation Homes utiliza uma plataforma de tecnologia proprietária com os seguintes recursos principais:

• Sistema de rastreamento de manutenção em tempo real
• Processo de aplicativo e triagem de inquilinos digitais
• Infraestrutura automatizada de coleta de aluguel
• Sistema de Informação Geográfica (GIS) para Gerenciamento de Propriedades

Fortes capital financeiro e capacidades de investimento

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 21,4 bilhões
• Capitalização de mercado: US $ 16,2 bilhões
• Relação dívida / patrimônio: 0.62
• Receita anual: US $ 2,1 bilhões

Equipe de gestão imobiliária e imobiliária experiente

Posição de liderança	Anos de experiência	Antecedentes da indústria anterior
CEO	Mais de 25 anos	Fundos de investimento imobiliário
Diretor Financeiro	Mais de 20 anos	Serviços financeiros
COO	Mais de 18 anos	Gerenciamento de propriedades

Presença geográfica extensa

Cobertura de mercado em 16 áreas metropolitanas nos Estados Unidos, com concentração em:

• Regiões Sunbelt
• Mercados metropolitanos de alto crescimento
• Áreas com forte demanda de aluguel

Região	Número de mercados	Porcentagem de portfólio
Sudeste	5	35%
Sudoeste	4	25%
Oeste	3	20%
Outras regiões	4	20%

Invitation Homes Inc. (IVH) - Modelo de Negócios: Proposições de Valor

Casas de aluguel de alta qualidade e bem mantidas

A partir do quarto trimestre 2023, o Invitation Homes gerencia 81.031 casas unifamiliares em 16 mercados. Valor médio da casa: US $ 414.000. Taxa de ocupação: 97,2%. Investimento anual de manutenção de propriedades: US $ 68,3 milhões.

Métricas de mercado	Valor
Homes totais	81,031
Mercados servidos	16
Valor médio da casa	$414,000
Taxa de ocupação	97.2%

Soluções de habitação flexíveis

Os termos de arrendamento variam de 12 a 24 meses. Aluguel mensal médio: US $ 2.187. Taxa de renovação do arrendamento: 58,3%.

• Opções de arrendamento padrão de 12 meses
• Opções de arrendamento estendidas de 24 meses
• Flexibilidade mensal disponível

Gerenciamento de propriedades profissionais

Equipe de atendimento ao cliente: 425 profissionais dedicados. Tempo médio de resposta para solicitações de manutenção: 24 horas. Classificação anual de satisfação do cliente: 4.3/5.

Serviços de aluguel e manutenção online

Recursos da plataforma digital:

• Processamento de aplicativos on -line
• Pagamento de aluguel digital
• Submissão de solicitação de manutenção 24/7

Métricas de plataforma digital	Desempenho
Taxa de conclusão de aplicativos online	87%
Adoção de pagamento de aluguel digital	72%

Moradia estável em mercados desejáveis

Os mercados incluem: Atlanta, Phoenix, Dallas, Tampa, Charlotte. Concentração de portfólio em regiões de cinto de sol de alto crescimento. Apreciação média do mercado: 6,7% anualmente.

Principais mercados	Casas	Crescimento do mercado
Atlanta	15,623	7.2%
Fênix	12,405	6.9%
Dallas	11,287	6.5%

Invitation Homes Inc. (IVH) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de autoatendimento digital

A Invitation Homes opera um portal abrangente de inquilinos on -line com os seguintes recursos:

Recurso da plataforma digital	Disponibilidade	Engajamento do usuário
Pagamento de aluguel on -line	100% digital	87% dos inquilinos usam o pagamento digital
Solicitação de solicitação de manutenção	Plataforma online 24/7	92% das solicitações de manutenção enviadas digitalmente
Processo de renovação do arrendamento	Plataforma totalmente online	76% das renovações de arrendamento concluídas online

Suporte online 24/7 online

Canais de suporte e métricas de resposta:

• Tempo médio de resposta de suporte digital: 2,3 horas
• Disponibilidade de suporte de bate -papo online: 24/7
• Classificação de suporte a aplicativos móveis: 4,5/5 estrelas
• Interações anuais de suporte digital: 340.000

Gerenciamento de propriedades personalizadas

Estratégias personalizadas de engajamento de inquilinos:

Métrica de personalização	Desempenho
Frequência de comunicação personalizada	Boletins digitais mensais
Taxa de retenção de inquilinos	68,4% ano a ano
Programação de manutenção personalizada	95% dos pedidos abordados dentro de 48 horas

Canais de comunicação transparentes

Detalhes da infraestrutura de comunicação:

• Métodos de contato múltiplos: email, telefone, chat online, aplicativo móvel
• Satisfação média da comunicação do inquilino: 4,3/5 Classificação
• Pontos de contato anuais de comunicação: 1,2 milhão

Experiência consistente do cliente em mercados

Métricas de padronização de mercado:

Cobertura de mercado	Número de mercados	Nível de padronização
Total de mercados geográficos	16 estados	95% de consistência do serviço
Propriedades totais	Mais de 80.000 casas unifamiliares	Plataforma digital uniforme

Invitation Homes Inc. (IVH) - Modelo de Negócios: Canais

Site de aluguel on -line

A Invitation Homes opera o InvitationHomes.com com 80.000 listagens de aluguel ativo a partir do quarto trimestre 2023. O site processa aproximadamente 15.000 aplicativos de aluguel on -line mensalmente.

Métrica do site	Valor
Visitantes mensais do site	1,2 milhão
Aplicativos de aluguel online	15.000 por mês
Listagens de aluguel ativo	80,000

Aplicativo móvel

O aplicativo Mobile Homes Invitation Homes possui 250.000 downloads ativos com uma classificação de 4.3/5 em lojas de aplicativos. Os usuários completam 22% dos aplicativos de aluguel através da plataforma móvel.

Escritórios de gerenciamento de propriedades

A Invitation Homes mantém 45 escritórios de gerenciamento de propriedades físicas em 16 estados, principalmente em áreas metropolitanas com alta demanda de aluguel.

Estatísticas do Escritório de Gerenciamento de Propriedades	Valor
Escritórios físicos totais	45
Estados cobertos	16

Plataformas de listagem de imóveis

As casas de convite aproveitam as parcerias com:

• Zillow
• Realtor.com
• Trulia
• HotPads

Redes diretas de marketing e referência

A empresa gera 35% das novas aquisições de inquilinos por meio de programas de referência, com um bônus de referência média de US $ 250 por arrendamento bem -sucedido.

Métricas do Programa de Referência	Valor
Aquisição de inquilinos por meio de referências	35%
Bônus de referência média	$250

Invitation Homes Inc. (IVH) - Modelo de negócios: segmentos de clientes

Jovens profissionais

A partir do quarto trimestre 2023, o Invitation Homes tem como alvo jovens profissionais com o seguinte grupo demográfico profile:

Faixa etária	Faixa de renda	Porcentagem de aluguel
25-35 anos	$75,000 - $125,000	42%

Millennials e Locatários da Gen Z

Principais características deste segmento:

• Aluguel mensal médio: US $ 2.145
• Porcentagem de portfólio direcionada a este segmento: 38%
• Renda familiar média: US $ 87.500

Famílias que buscam moradia flexível

Demografia de segmento familiar:

Tamanho da família	Renda familiar média	Tamanho da unidade de aluguel
3-4 membros	$105,000	3-4 quartos

Transferências corporativas

Detalhes do segmento de realocação corporativa:

• Número de mercados servidos: 16 áreas metropolitanas
• Duração média do arrendamento: 12-24 meses
• Porcentagem de portfólio: 15%

Indivíduos preferindo aluguel sobre proprietários de casas

Estatísticas do segmento de preferência de aluguel:

Faixa etária	Porcentagem de preferência de aluguel	Aluguel mensal médio
25-45 anos	53%	$1,975

Invitation Homes Inc. (IVH) - Modelo de negócios: estrutura de custos

Despesas de aquisição de propriedades

A partir do quarto trimestre de 2023, as casas de convite relataram custos totais de aquisição de propriedades de US $ 246,3 milhões. O custo médio por casa de aluguel unifamiliar foi de aproximadamente US $ 367.000.

Categoria de despesa	Valor ($)
Custos totais de aquisição de propriedades	246,300,000
Custo médio por casa	367,000

Custos de manutenção e reparo

As despesas anuais de manutenção e reparo para casas de convite foram de US $ 159,4 milhões em 2023, representando aproximadamente US $ 1.850 por unidade de aluguel.

• Custos de manutenção de rotina: US $ 98,6 milhões
• Principais reparos e melhorias de capital: US $ 60,8 milhões

Investimentos de tecnologia e infraestrutura

Os gastos com tecnologia para 2023 totalizaram US $ 42,7 milhões, com foco em:

Área de investimento em tecnologia	Valor ($)
Software de gerenciamento de propriedades	18,500,000
Plataformas de atendimento ao cliente	12,300,000
Infraestrutura de segurança cibernética	11,900,000

Despesas operacionais de gerenciamento de propriedades

As despesas operacionais totais para gerenciamento de propriedades em 2023 foram de US $ 287,6 milhões.

• Salários e benefícios da equipe: US $ 156,3 milhões
• Custos administrativos: US $ 67,4 milhões
• Utilitários e despesas relacionadas à propriedade: US $ 63,9 milhões

Custos de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 24,5 milhões.

Canal de marketing	Gastos ($)
Marketing digital	12,700,000
Publicidade tradicional	6,800,000
Programas de referência	5,000,000

Invitation Homes Inc. (IVH) - Modelo de negócios: fluxos de receita

Renda mensal de aluguel

A partir do quarto trimestre de 2023, a Invitation Homes relatou um aluguel mensal médio de US $ 2.248 por propriedade. A empresa possui aproximadamente 80.000 casas de aluguel unifamiliares em 16 mercados nos Estados Unidos.

Métrica	Valor
Receita anual total de aluguel	US $ 2,16 bilhões
Aluguel mensal médio	$2,248
Número de propriedades de aluguel	80,000

Taxas de gerenciamento de propriedades

As casas de convite gera receita adicional através de serviços de gerenciamento de propriedades para proprietários de imóveis de terceiros.

• Faixa de taxa de gerenciamento de propriedades: 8-12% da receita mensal de aluguel
• Receita anual estimada de gerenciamento de propriedades: US $ 45-50 milhões

Acusações de renovação de arrendamento

A empresa cobra taxas de renovação do arrendamento para manter e processar extensões de contrato de inquilino.

Taxa de renovação do arrendamento	Quantia
Taxa típica de processamento de renovação	US $ 150 a US $ 250 por arrendamento
Renovações anuais de arrendamento	Aproximadamente 40.000

Taxas de serviço adicionais

Os fluxos de receita suplementares incluem:

• Taxas de atraso no pagamento: média de US $ 50 por ocorrência
• Encargos do Serviço de Manutenção: US $ 75 a US $ 150 por solicitação de serviço
• Taxas de PET: US $ 25- $ 50 mensais por animal

Apreciação do valor da propriedade a longo prazo

As casas de convite se beneficiam da apreciação do mercado imobiliário em seu portfólio.

Métrica do valor da propriedade	2023 valor
Valor total do portfólio	US $ 14,3 bilhões
Taxa média de valorização da propriedade	5,7% anualmente

Invitation Homes Inc. (INVH) - Canvas Business Model: Value Propositions

Invitation Homes Inc. provides high-quality, professionally managed single-family homes, meeting lifestyle demands for flexibility and savings. The company's portfolio is focused on desirable neighborhoods near major employment centers and good schools across the Western United States and Florida. The value proposition centers on offering a superior living experience compared to traditional leasing or homeownership in their markets. For instance, leasing a single-family home through Invitation Homes Inc. is approximately $1,100 per month cheaper than owning in their key markets.

The operational stability, a core part of the value proposition, is evidenced by strong resident retention metrics. The average resident tenure has reached 40 months as of Q2 2025. This stability is supported by a high renewal rate, which approached 80% in Q2 2025. The company's Q3 2025 Same Store renewal rent growth was reported at 4.5%. The typical resident profile is relatively young, with an average age of 38, suggesting appeal to millennials and young families.

The platform for worry-free leasing is built around the Genuine CARE service philosophy. This focus on resident experience translates into measurable service quality. Post-maintenance surveys yielded an average rating of 4.74 average stars. Furthermore, Invitation Homes Inc. offers tangible financial benefits to residents, including free positive credit reporting for on-time rent payments.

Technology integration is a key differentiator, enhancing the resident experience and operational efficiency. As highlighted in their 2024 Impact Report, released in late 2025, over 64,000+ homes are equipped with smart home technology.

Here are some key operational statistics from the 2025 fiscal year performance data you should review:

Metric	Period/Date	Value
Same Store Portfolio Size	Q2 2025	77,721 homes
Same Store Average Occupancy	Q1 2025	97.2%
Same Store Average Occupancy	Q3 2025	96.5%
Average Resident Tenure	Q2 2025	40 months
Same Store Renewal Rent Growth	Q3 2025	4.5%
Total Revenues	Q3 2025	$688 million
Net Income to Common Stockholders	Q3 2025	$136 million
Wholly Owned Homes Acquired (YTD)	Through Q2 2025	1,516 homes for $510 million

The 'Genuine CARE' platform provides residents with specific, actionable services that support a worry-free tenancy:

• Free positive credit reporting for on-time rent payments.
• Resident First Look program for purchasing their home before market listing.
• Average resident age of 38.
• Commitment to providing living solutions and Genuine CARE to people counting on leasing flexibility.

Invitation Homes Inc. (INVH) - Canvas Business Model: Customer Relationships

Digital self-service is a key component for managing the resident base efficiently. Current residents use a dedicated mobile application, the Invitation Homes Maintenance app, to handle necessary interactions.

Property management operations rely on technology platforms that allow residents to submit maintenance requests directly through mobile apps and online portals. This digital pathway supports the overall service delivery.

The high-touch service model, built around the Genuine CARE values, is central to driving resident satisfaction and long-term tenancy. This commitment is reinforced internally by linking a portion of all operational associates' compensation to resident satisfaction metrics. The focus is on fast and friendly service, doing the right thing, and owning the solution.

Resident feedback, gathered through surveys, indicates a high level of service quality. For instance, post-maintenance surveys recorded an average rating of 4.74 average stars as of March 2025 data. Invitation Homes also provides value-add services like in-person home orientation at move-in and the use of Smart Home technology to make living easier.

Service Metric	Value (as of March 2025)
Average Stars on Post-Maintenance Surveys	4.74
Google/Yelp Rating (Cumulative All-Time)	4.13

The Resident First Look program is a pathway offered to residents in select homes, giving them the opportunity to purchase the property they currently occupy before it is listed on the open market. This aligns with the fact that approximately one quarter of residents who move out do so to become home buyers.

Historically, the program has seen significant participation from specific groups, demonstrating its utility in facilitating homeownership goals for renters.

Resident First Look Purchaser Detail (Historical)	Percentage
First-Time Home Buyers	More than 65%
Veterans	More than 13%

The company historically invested an average of $22,000 upfront in each home offered through the Resident First Look program, ensuring the properties are well-maintained for potential purchase.

Strong resident retention is a primary scorecard for Invitation Homes, directly reflecting resident satisfaction and operational cost efficiency. The company consistently reports renewal rates near the 80% mark, indicating residents choose to stay in their homes.

As of the third quarter of 2025, the average resident tenure had increased to 41 months, and the renewal business accounted for over 75% of their leasing activity. This is an improvement from the second quarter of 2025, when the average tenure was 40 months and the renewal rate was approaching 80%.

The same-store renewal rent growth for Q3 2025 was 4.5%, which was 30 basis points higher than the result from the third quarter of the prior year.

Here's the quick math on the latest reported retention figures:

• Average Same Store Resident Tenure (Q3 2025): 41 months
• Same Store Renewal Rate Growth (Q3 2025): 4.5%
• Renewal Business Share of Book (Q3 2025): Over 75%
• Average Same Store Resident Tenure (Q2 2025): 40 months
• Renewal Rate Approaching (Q2 2025): 80%

Invitation Homes Inc. (INVH) - Canvas Business Model: Channels

You're looking at how Invitation Homes Inc. gets their homes in front of prospective residents and closes the deal as of late 2025. It's a mix of digital presence and boots-on-the-ground management.

Invitation Homes' corporate website and digital leasing portal

The digital front door is clearly important, driving a significant portion of their leasing activity. The overall success of their leasing efforts is reflected in their portfolio performance metrics from the third quarter of 2025. For instance, the Same Store Average Occupancy for the portfolio stood at 96.5% as of Q3 2025.

The digital platform supports both renewals and new leases, which is key to their revenue. In Q3 2025, Same Store renewal rent growth was 4.5%, while Same Store new lease rent growth was (0.6)%, resulting in a Same Store blended rent growth of 3.0%. This suggests the digital portal is highly effective at retaining existing residents, who make up the bulk of their business.

Local real estate agents and brokers for leasing

While the search results don't give a direct percentage of leases sourced through external agents, the acquisition channel data gives a sense of overall activity. In Q3 2025, Invitation Homes Inc. acquired 749 homes for approximately $260 million through their various acquisition channels, which often involves third-party sourcing. This indicates an active external network supporting inventory growth, which feeds the leasing channels.

Direct on-site property management teams

The direct management teams are the engine for service delivery and renewals. Invitation Homes Inc. had a total of 1,750 employees as of September 30, 2025. These teams manage a portfolio exceeding 85,000 single-family rental homes. The strength of this direct channel is evident in the high renewal rates reported in prior quarters, such as the renewal rate approaching 80% and an average resident tenure of 40 months.

Here's a quick look at the scale of the operation supporting these teams:

Metric	Value (Q3 2025)
Total Portfolio Homes (Approximate)	85,000+
Total Employees	1,750
Same Store Average Occupancy	96.5%
Total Q3 2025 Revenues	$688 million

Social media and digital advertising platforms

These platforms are used to drive traffic to the digital leasing portal, supporting the new lease acquisition efforts which saw a (0.6)% rent growth in Q3 2025. The overall leasing success, even with softer new lease growth, is part of a larger strategy that also involves capital deployment.

The company's focus on digital engagement is implied by their overall platform strength, which supports the following key leasing outcomes:

• Same Store Blended Rent Growth: 3.0% (Q3 2025)
• Same Store Renewal Rent Growth: 4.5% (Q3 2025)
• Same Store New Lease Rent Growth: (0.6)% (Q3 2025)
• Total Q3 2025 Acquisitions: 749 homes

If onboarding takes 14+ days, churn risk rises.

Invitation Homes Inc. (INVH) - Canvas Business Model: Customer Segments

You're looking at the core groups Invitation Homes Inc. (INVH) serves with its single-family rental homes.

The company's portfolio, which stood at over 85,000 homes as of late 2025, is intentionally focused on households that are typically looking for starter or move-up housing options. These homes generally have an average sale price around $350,000 and are usually less than 1,800 square feet in size. This focus directly targets a large demographic needing quality, single-family space without the immediate commitment of purchase.

Many residents are renters-by-choice, preferring the flexibility and reduced responsibility that comes with leasing a single-family home over ownership hassles. For instance, resident retention is strong, with an average tenure of 40 months and a renewal rate near 80% reported in early 2025, suggesting satisfaction with the service model for those who prefer not to own. Also, the largest segment of their revenue comes from rental income, which maintained a high average occupancy rate of 97.2% in Q2 2025.

Invitation Homes Inc. (INVH) concentrates its assets in high-growth areas, specifically the Sunbelt and Western U.S. markets, which see strong employment and household formation. This geographic strategy aligns with residents moving for economic opportunity or lifestyle preferences in those regions.

Here is a breakdown of the portfolio concentration by revenue and key operational metrics:

Metric	Value	Period/Context
Total Portfolio Size	Over 85,000 homes	Late 2025
Portfolio Concentration (Western US)	40% of revenue	Late 2025
Portfolio Concentration (Florida)	32% of revenue	Late 2025
Portfolio Concentration (Southeast US)	18% of revenue	Late 2025
Portfolio Concentration (Texas)	6% of revenue	Late 2025
Same Store Average Occupancy	96.5%	Q3 2025
Same Store Renewal Rent Growth	4.5%	Q3 2025

A significant portion of the customer base consists of households for whom the cost of renting is substantially lower than the cost of homeownership in their local market. This affordability gap is a major driver of demand. For example, analysts estimate the monthly payment gap between renting and owning can be as much as 30% less to rent. Furthermore, a 2025 study indicated that homeowners faced median monthly costs of $2,641, which was about 1.97 times the median monthly costs of $1,341 for renters.

The value proposition for these households is clear, as shown by these comparative costs:

• Households for whom renting is more affordable than owning in 15 out of 17 target markets.
• Estimated monthly savings from renting versus owning: approximately $1,000 more to own, based on some estimates.
• The company's average home size is generally less than 1,800 square feet, fitting the starter/move-up profile.
• The company's TTM Revenue as of September 30, 2025, was $2.7B.

Finance: draft 13-week cash view by Friday.

Invitation Homes Inc. (INVH) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Invitation Homes Inc. running and growing its portfolio of single-family rentals. The cost structure here is heavily weighted toward the physical assets and the capital required to hold them.

Property operating and maintenance expenses are a huge, recurring cost. For the third quarter of 2025, this line item hit $259 million. That's up 6.9% year-over-year from $242 million in Q3 2024, showing that keeping tens of thousands of homes in top shape isn't getting cheaper. Also, note that for Same Store reporting, these operational costs are tracked, with Same Store Core Operating Expenses growing 4.9% year-over-year in Q3 2025.

The debt load is substantial, meaning significant interest expense on debt capital is a primary cost driver. Invitation Homes Inc. actively manages this, as seen when they closed a public offering of $600 million aggregate principal amount of 4.950% Senior Notes due 2033 on August 15, 2025. This new issuance directly impacts future interest costs, even as Q2 2025 saw interest expense slightly decrease due to ongoing debt management and rate swaps.

The corporate platform requires overhead, which includes general and administrative (G&A) costs. While the search results don't give a standalone Q3 2025 G&A dollar figure, we know it's a component of the overall expense base. For context, G&A expense is specifically excluded when calculating Same Store Net Operating Income (NOI), meaning it's treated separately from the direct property-level operating costs.

Deploying capital for growth means substantial capital expenditures for home renovations and upgrades, though much of the reported spend relates to acquisitions. In Q3 2025 alone, acquisitions totaled approximately $260 million for 749 homes across Invitation Homes Inc. and its joint ventures. Looking at the full year 2025 guidance, wholly owned acquisitions are targeted between $500 million and $700 million, which requires significant upfront capital deployment, often offset by planned dispositions.

Here's a quick look at some of the key cost and capital deployment figures we have for the period:

Cost/Capital Category	Period	Amount
Property Operating and Maintenance Expenses	Q3 2025	$259 million
Same Store Core Operating Expenses Growth	Q3 2025 (Year-over-Year)	4.9%
New Senior Notes Issued	August 2025	$600 million
Q3 2025 Acquisitions (Total Homes)	Q3 2025	749 homes for approx. $260 million
FY 2025 Wholly Owned Acquisition Guidance (Midpoint Range)	Full Year 2025	$500 million to $700 million

You should also keep in mind the other elements that feed into the operating expense structure, which Invitation Homes Inc. manages closely:

• Property taxes were up 6.3% year-over-year in Q3 2025.
• Same Store renewal rent growth was a strong 4.5% in Q3 2025.
• Same Store Bad Debt was 0.7% of gross rental revenue in Q3 2025.
• Insurance expense saw a 21.1% decrease year-over-year (based on Q3 data).
• The company is actively managing capital through dispositions, totaling 316 homes for approximately $122 million in Q3 2025.

The focus on operational efficiency is clear, as the company narrowed its full-year 2025 core expense growth guidance to a range of 2% to 3.5% at the midpoint.

Finance: draft 13-week cash view by Friday.

Invitation Homes Inc. (INVH) - Canvas Business Model: Revenue Streams

Rental income from wholly owned homes forms the bedrock of Invitation Homes Inc.'s financial structure, representing nearly 96% of total revenue, as per the stated model expectation.

Management fee revenue from third-party properties provides a smaller, yet growing, component. For the first quarter of 2025, this stream generated $21.41 million.

Ancillary income captures value beyond the base rent. This includes various resident-paid charges and recoveries. For instance, Same Store Core Revenues in Q1 2025 reflected a 2.2% increase in other income, net of resident recoveries.

Asset recycling through property sales is a deliberate strategy for capital management. During the third quarter of 2025, Invitation Homes and its joint ventures completed dispositions totaling 316 homes for gross proceeds amounting to approximately $122 million.

Here's a look at the concrete figures from recent reporting periods:

Revenue Component	Period	Financial Number/Amount
Rental Revenues (Wholly Owned Homes)	Q1 2025	$585.19 million
Management Fee Revenue (Third-Party)	Q1 2025	$21.41 million
Total Reported Revenue	Q1 2025	$674.48 million
Property Sales Gross Proceeds (Asset Recycling)	Q3 2025	$122 million
Total Reported Revenue	Q3 2025	$688 million

You can see the breakdown of the core rental revenue drivers:

• Same Store renewal rent growth reached 4.5% in Q3 2025.
• Same Store new lease rent growth was (0.6)% in Q3 2025.
• This resulted in a Same Store blended rent growth of 3.0% in Q3 2025.
• Same Store Bad Debt improved to 0.7% of gross rental revenue in Q3 2025.