Company: INVH
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001687229-25-000051
Chunk: 11

Company: Invitation Homes Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 11
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 2025 Compared to Three Months Ended September 30, 2024

The following table sets forth a comparison of the results of operations for the three months ended September 30, 2025 and 2024:For the Three MonthsEnded September 30,($ in thousands)20252024$ Change% ChangeRevenues:Rental revenues and other property income$666,191 $641,342 $24,849 3.9 %Management fee revenues21,975 18,980 2,995 15.8 %Total revenues688,166 660,322 27,844 4.2 %Expenses:Property operating and maintenance259,037 242,228 16,809 6.9 %Property management expense37,073 34,382 2,691 7.8 %General and administrative18,444 21,727 (3,283)(15.1)%Interest expense90,781 91,060 (279)(0.3)%Depreciation and amortization188,457 180,479 7,978 4.4 %Casualty losses, impairment, and other3,420 20,872 (17,452)(83.6)%Total expenses597,212 590,748 6,464 1.1 %Gains (losses) on investments in equity and other securities, net380 (257)637 247.9 %Other, net(1,769)(9,345)7,576 81.1 %Gain on sale of property, net of tax45,515 47,766 (2,251)(4.7)%Income (losses) from investments in unconsolidated joint ventures2,130 (12,160)14,290 117.5 %Net income$137,210 $95,578 $41,632 43.6 %

Revenues

For the three months ended September 30, 2025 and 2024, total revenues were $688.2 million and $660.3 million, respectively. Set forth below is a discussion of changes in the individual components of total revenues.

48

For the three months ended September 30, 2025 and 2024, total portfolio rental revenues and other property income totaled $666.2 million and $641.3 million, respectively, an