Caring For Our Homes – Rehabs, Turns & Maintenance
At Invitation Homes, we care deeply about our residents and the homes they live in. We pride ourselves on proactively updating properties before a resident ever moves in as well as responding to maintenance requests in a timely and efficient manner to keep homes in the best condition possible. Our care for residents and their homes consists of several different time- and cost-intensive processes that we call “RTM,” short for rehabs, turns, and maintenance.
The RTM process begins once we acquire homes we know residents will love, in great neighborhoods with close proximity to good schools and jobs. Before our first resident moves in, we attend to any upfront repairs and upgrades these homes need in order to to make sure they’re in move-in ready condition for our residents. These “rehabs” – which include things like updating appliances, adding new cabinetry, or installing modern flooring – happen before we put the house on the market for rent to ensure residents are met with the layouts and amenities they expect. In 2019, we invested roughly $38,000 upgrading each house we purchased, and over the last eight years, we’ve invested more than $2.3 billion on these upfront investments.
As any resident or homeowner knows, the process of maintaining a property doesn’t end with initial investments. In between residents, we take extensive steps through what we call “turns” to make sure our homes are in the best condition possible to welcome a new individual or family. Once a resident has moved out of their home, Invitation Homes reviews the condition of the property to identify any needed repairs and improvements that we believe will enhance the experience for the next resident to make the house their home. Turns are a great opportunity for us to refresh a house and make sure it’s up to date and ready for the next resident to call it home. Every year, we turn more than 20,000 of our roughly 80,000 homes.
Preparing our houses for new residents is a top priority for Invitation Homes and is just the first step in the RTM process. During a resident’s lease, we routinely maintain our homes to a high standard. Residents are encouraged to let us know when something in their home needs attention, and as a result we respond to more than 500,000 service requests from residents each year. In addition, in a non-pandemic environment, we conduct proactive care of each home through our innovative ProCare program. ProCare enables us to engage with each home and each resident twice a year, ensuring that we can make any tune-ups needed to keep the home up to our standards for residents during the entire time we own it.
Our business is successful because we provide the product and the ongoing service that our residents want. The care of our homes is certainly part of that overall experience, and one we take very seriously. Our “big green RTM machine” will keep working hard to meet the needs of our residents, now and in the future.