Establishing and maintaining strong relationships with residents that are built on honesty, trust, and transparency is the bedrock of our business. That’s why we work hard to provide clarity and open communication across all aspects of leasing throughout a resident’s time with us, especially when it comes to financial obligations. This includes ensuring that rent and any applicable fees are transparently communicated and documented during the leasing process. Being upfront and open about this information better positions residents for success when searching for the right home and helps us build a stronger business in the long run.
To ensure we’re transparent from the very beginning of any resident relationship, we clearly outline all fees on our website. In addition, when a resident signs a lease with us, all fees are clearly listed on the first page of the lease, with a total monthly obligation tallied at the bottom of the page. We find that this helps with clarity on both sides and encourages open conversation about the obligations on both sides of the equation.
In a few of our markets, our homes might not participate in certain programs or be equipped with specific technologies. It’s important to note that all charges might vary by location, so applicants and residents should check with local offices or leasing agents if they’ve found a home they’re interested in.
When residents decide they’re ready to submit an application with us, they’re charged a fee of up to $55 per person for adults over 18. The application fee covers the cost of background checks, time spent reviewing the application, and any other expenses involved with the application process.
If a resident falls in love with a home that isn’t ready to be leased quite yet, they can pay a fee to hold it. A holding fee of $500, paid within 48 hours of receiving application approval from Invitation Homes and a signed holding agreement, will secure your hold until the home becomes available.
Another typical fee found with most leased items is a security deposit, equal to one month’s rent. The security deposit acts as insurance for us to cover any unpaid rent and/or damages and normal wear and tear. Our ProCare service team helps with move-in and move-out visits to provide feedback on how residents can maximize their security deposit return upon move-out.
Residents are required to subscribe to several service offerings that help make leasing as worry-free as possible with Invitation Homes. This includes the latest smart home technology at $30/month, or $40 for homes with a video doorbell; convenient air filter delivery for $9.95/month; and utility management fees of up to $9.95/month. These services not only help residents live easier, but also maintain our homes and improve the quality of life in them. Smart home technology can help lower energy usage, for example, and air filter delivery ensures that filters are replaced in a timely manner, improving the quality of air inside and outside the home, while enhancing the longevity of the HVAC system.
Additional fees may include those for pets and pools. At Invitation Homes, we’re pet people, and furry family members are welcome in our homes. We also understand that many residents appreciate pools as a key amenity for comfortable living. For these add-ons, we charge monthly fees to help us keep our homes in the best shape possible while meeting resident desires. Up to three cats and dogs are welcome, and in almost all of our markets, we charge an initial fee of up to $325 per pet (may vary by location) and a $40 additional monthly cost for each pet. Pools come with an additional $120/month maintenance fee to keep the spaces ready for enjoyment and cared for. And lastly, if your home is part of a Homeowner’s Association, we pay the annual HOA fees, however there may be fees incurred for any resident violations of the applicable bylaws.
Invitation Homes aims to create an industry-leading leasing experience in the single-family rental home market, and we’re transparent about that. Our fees are clearly disclosed online, and we take pride in maintaining open communication with residents and resolving any issues quickly.
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