Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 110

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 110
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,146 3.7 %Property management expense72,572 63,870 8,702 13.6 %General and administrative53,109 44,946 8,163 18.2 %Interest expense171,668 179,852 (8,184)(4.6)%Depreciation and amortization368,601 351,935 16,666 4.7 %Casualty losses, impairment, and other7,712 14,490 (6,778)(46.8)%Total expenses1,155,389 1,119,674 35,715 3.2 %Gains (losses) on investments in equity and other securities, net(311)1,295 (1,606)(124.0)%Other, net(768)(48,039)47,271 98.4 %Gain on sale of property, net of tax118,257 93,765 24,492 26.1 %Losses from investments in unconsolidated joint ventures(10,020)(10,620)600 5.6 %Net income$307,649 $216,217 $91,432 42.3 %

Revenues

For the six months ended June 30, 2025 and 2024, total revenues were $1,355.9 million and $1,299.5 million, respectively. Set forth below is a discussion of changes in the individual components of total revenues.

For the six months ended June 30, 2025 and 2024, total portfolio rental revenues and other property income totaled $1,312.2 million and $1,269.6 million, respectively, an increase of 3.4%, driven by an increase in average monthly rent per occupied home and a 871 home increase between periods in the average number of homes owned, partially offset by a 120 bps reduction in average occupancy.

Average occupancy for the six months ended June 30, 2025 and 2024 for the total portfolio was 95.4% and 96.6%, respectively. Average monthly rent per occupied home for the total portfolio for the six months ended June 30, 2025 and 2024 was $2,429 and $2,369, respectively, a 2.5% increase. For our Same Store portfolio, average occupancy was 97.