INVH · 8-K · 20261028PR000053

Operating Expense Trends

Invitation Homes Inc. · 2026-10-28 · Importance 57 · Surprise 64

Consolidated Q3 property operating and maintenance expense increased 2.0% year over year to $264.2 million from $259.0 million, while total expenses rose to $664.2 million from $597.2 million. General and administrative expense increased to $34.2 million from $18.4 million, an increase exceeding 10%; the release does not give a specific Q3 driver. The Core FFO reconciliation reports $32.0 million of Q3 business reorganization costs, including the Pathway consolidation loss and severance, restructuring, acquisition, and integration costs. Same Store controllable expenses grew 4.9%, led by repairs and maintenance up 4.3%, turnover costs up 6.6%, and utilities and property administration up 8.8%.

Key facts

• Q3 2026 property operating and maintenance costs increased 2.0% year over year to $264 million. source
• YTD 2026 Same Store Core Operating Expenses were $554,996 thousand, up 3.3% from $537,495 thousand in YTD 2025. source
• Q3 2026 Same Store Core Operating Expenses increased 2.5%, with controllable expenses up 4.9% and fixed expenses up 1.1%. source
• YTD 2026 Same Store Core Operating Expenses increased 3.3%, with controllable expenses up 4.7% and fixed expenses up 2.5%. source