Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Investor Presentation (May 2022)
21 slides from Invitation Homes's investor presentation, May 2022
Slide 1: Investor Presentation May 2022
Investor Presentation May 2022 Together with you, we make a house a home.
Slide 2: I. Executive Summary
Las Vegas I. Executive Summary 2
Slide 3: Key Takeaways and Updates
Key Takeaways and Updates We remain strategically positioned to pursue growth opportunities and enhance the resident experience Our strong Same Store results continued in April: New lease rate growth accelerated to 15.5% (+480 bps YoY) in April compared to 14.8% for 1Q22 Renewal rate growth ac
Slide 4: A Business Model For All Seasons
A Business Model For All Seasons We believe our business and proven strategy position us well against economic uncertainty The location and quality of our homes attracts a higher-end SFR customer Average annual income of new residents nearly $130,000, with an income to rent ratio of 5.4x as of 1
Slide 5: Our Most Recent Growth Opportunities
Our Most Recent Growth Opportunities Our new investments offer additional housing solutions around flexibility and choice Pathway Homes Rockpoint “Premier-Product” JV Announced February 2022 as a $750M (including debt) Announced March 2022 as a $750M (including debt) platform, backed by Regis Gr
Slide 6: Differentiated Portfolio and Platform
Differentiated Portfolio and Platform We are strategically positioned around three pillars that enhance growth and the resident experience Track Record of Sector-Leading Growth and High-Quality Resident Experience Location Scale Eyes in Markets • 95% of portfolio in Western • Over 5,000 homes per •
Slide 7: Our Commitment to ESG
Our Commitment to ESG We are committed to strong corporate citizenship and raising the bar for ESG Resident education on energy-efficiency ENERGY STAR® certified appliances & durable, energy-efficient materials ENVIRONMENTAL Smart Home technology & HVAC filter delivery program Water-saving l
Slide 8: Track Record of Consistency and Sector-Leading Growth
Track Record of Consistency and Sector-Leading Growth Differentiated locations, scale, and local expertise have driven consistent outperformance in organic growth 2017 SS-NOI Growth 2018 SS-NOI Growth 2019 SS-NOI Growth Invitation Invitation Invitation 7.4% 4.4% 5.6% Homes Homes Homes American Natio
Slide 9: II. Location & Scale
Il. Location & Scale 9 @ invitation homes
Slide 10: Location: High-Growth Markets
Location: High-Growth Markets We focus on high-growth markets and in-fill neighborhoods with proximity to jobs, transportation, and schools >95% of revenue from Western Seattle 6% U.S., Sunbelt, and Florida Minne- apolis 6.1% Northern 1% Chicago avg annual SS-NOI growth California 3% 6% from 2017 to
Slide 11: Multi-Channel Approach to Acquisitions
Multi-Channel Approach to Acquisitions Our multi-channel approach puts eyes on more opportunities and maximizes selectivity We believe our multi-channel acquisition approach enables significant external growth (with lower risk, in better locations) without on-balance-sheet development Channel agno
Slide 12: Our Homebuilder Relationships Offer Many Advantages
Our Homebuilder Relationships Offer Many Advantages Preferred partnership with PulteGroup, but also work with other national, regional and local builders Allows us to partner with, instead of competing against, the best homebuilders Lower initial upfront investment Projected to deliver stabili
Slide 13: Scale: Atlanta Example
Scale: Atlanta Example Our industry-leading scale enables us to operate efficiently with significant local presence in markets Atlanta - 12,685 Homes (1) NW POD Team NE POD Team • 1 Vice President of Operations 3,484 Homes 3,332 Homes • 1 Director of Operations • 1 Rehab/Turn/R&M Director • 3 Portfo
Slide 14: III. Eyes in Markets
Orlando III. Eyes in Markets 14
Slide 15: Best-in-Class, Local Approach to Operations and Investing
Best-in-Class, Local Approach to Operations and Investing Local, high-touch service with eyes in markets enhances control over asset quality and the resident experience Central strategy, tools, and oversight Differentiated Approach Local resident service, leasing, and investment/asset management,
Slide 16: Proactive Resident Service and Asset Management
Proactive Resident Service and Asset Management ProCare proactive maintenance program designed to optimize each touch point with our residents and homes ProCare is our differentiated approach to service that leverages proactive engagement with residents and homes to maximize resident satisfaction
Slide 17: Growing Ancillary Services
Growing Ancillary Services We remain on track with our multi-year plan to grow ancillary services to enhance the resident experience Smart Home Update: Base Smart Home package recently expanded to include video doorbell along with smart lock and smart thermostat Upgraded Smart Home packages ma
Slide 18: IV. Industry Fundamentals
Dallas IV. Industry Fundamentals 18
Slide 19: Meeting an Underserved Need in the Housing Market
Meeting an Underserved Need in the Housing Market We provide a unique experience, but today serve only 0.5% of the growing demand for single-family rentals Current U.S. Population by Age Cohort (2) U.S. Housing Summary (1) (millions of people) Potential 129 Million Households Future 24 Demand Owned:
Slide 20: Supply Continues to be Constrained
Supply Continues to be Constrained We believe a decade-long shortfall in single-family construction is likely to persist for the foreseeable future Rising labor costs, materials costs, impact fees, land scarcity, and regulatory hurdles have been barriers to supply Replacement cost increases for
Slide 21: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which include, but are not limited to, statements related to the Company’s expectations re