*****PRESS RELEASE*****
FOR IMMEDIATE RELEASE
Press Release – June 2, 2020



CONTACT:

Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com
Abriel St. Ange – Media Specialist; Cell: 857-529-3220; abriel.st.ange@naca.com

INVITATION HOMES EXPLOITS TENANTS DURING PANDEMIC CRISIS

AS THE LARGEST LANDLORD OF SINGLE-FAMILY HOMES IN AMERICA, INVITATION HOMES IS NOT PROVIDING TENANTS RELIEF AND IS RAISING RENTS


(BOSTON– June 2, 2020) – NACA, the largest non-profit HUD approved housing counseling organization, is working with thousands of Invitation Home tenants to organize and advocate for their rights. (click here for Invitation Homes Tenant website)

The tenants and others have responded to a mass mailing NACA sent to over 80,000 Invitation Homes tenants. The overwhelming response from thousands of tenants report having major issues, including extremely high rents, excessive rent increases, arbitrary high fees, refusal to make even critical repairs and other issues. This includes Invitation Homes’ shocking demand that even tenants struggling financially because of the Covid-19 pandemic must make their rental payment on time.

It is unconscionable to require rental payments and increase rents on tenants who have been impacted by the pandemic crisis, and in many states it is illegal. Instead, Invitation Homes minimizes costs and maximizes rents and fees for the sole purpose of providing the largest possible returns to investors, with no consideration of today’s unprecedented circumstances. In other words, its profits come directly from tenant exploitation.

A previous corporate loan deal should have prevented these practices. In 2017 Invitation Homes financed $1 Billion in collateralized debt, with their portfolio of houses as the collateral. The funding came from Wells Fargo, the nation’s most notorious bank, still under government sanctions for its predatory practices. In an unprecedented act, the financing was guaranteed by Fannie Mae. Under the CARES Act, renters living in a property with a GSE-backed mortgage are protected by a temporary eviction moratorium and other restrictions. While this funding opened the door for even more predatory activity against tenants, the deal also places the more than 80,000 homes owned by Invitation Homes under federal government regulation, including the tenant protections provided by the CARES Act.

Bruce Marks, NACA CEO, explains “Invitation Homes is a Wall Street predator. Every single one of their 80,000 homes was owner occupied prior to the 2008 mortgage crisis. They are now using their mortgage power in their 16 markets to exploit their tenants, add to the affordable housing crisis and raise housing prices for homebuyers.”

Francisca and husband Steve Bello, are one of many Invitation Homes tenants who have complaints about Invitation Homes. They say, “Invitation Homes has increased our rent from $1,705 to $2,005. I am pregnant and both my husband and I have lost our jobs due to the pandemic. We were hoping for some assistance from Invitation Homes but they still required payment and they were only willing to not charge us any late fees.”

With the help of NACA, thousands of Invitation Homes tenants are now reaching out within their community to involve other tenants in advocating for their rights. If Fannie Mae, Wells Fargo and Wall Street investors can enable Invitation Homes to profit from tenant exploitation and worsen the affordable housing crisis in this country, then the tenants, NACA and other advocates will take action to fight this exploitation. The tenants have the power to protest, withhold rent and work with political and community leaders to hold Invitation Homes and its executives accountable. This turns the tables on Wall Street and other investors who thought they could generate massive returns by creating a dominant, greed focused single-family landlord.

NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA (www.naca.com)
Started in 1988, NACA is the largest HUD-Certified nonprofit, community advocacy and homeownership organization in the United States. NACA has been the forefront in fighting predatory lending and has been the most effective organization in providing affordable solutions to over 250,000 homeowners. NACA provides the best mortgage in the country through its 48 offices nationwide. NACA’s founder and CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify home loans. He has also testified before Congress on numerous occasions including September 12, 2000—being one of the few to sound the alarm of the pending mortgage crisis. For more information, please visit www.naca.com.

By TTrumble

Online Operations Team and Forum Administrator for NACA. Based in the NACA National Counseling Center in Charlotte, NC.

15 thoughts on “INVITATION HOMES TENANT ABUSE”
  1. I too rent with invitation. They raised my rent 150$ in may. I gave them notice and they worked with me when I was late in June. I haven’t been late again, but I am concerned about them raising rent during this pandemic. Hopefully ill be able to keep paying rent on time. I’ve been concerned is why I was looking into their CARES policy.

  2. I also rent from them and currently on the month month since I am “scheduled for closing” the end of this month and I am paying additional ($345) from what I was paying. They were also very difficult when ask to verify rental verification for NACA’s process. Its being so stressful paying this additional fee and being in this process with NACA not knowing for sure when I’ll be getting a home.

    1. Hello LValencia,

      Congratulations on receiving your Clear to Close yesterday! You have again proved that patience and persistence are the most powerful tools you have in the NACA program.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  3. I’m a current tenant of SWAY/Invitation Homes and I’m being targeted. Ive always paid my rent on time (within grace) which they dont like since no late fees can be charged. Theyre insisting an “as-is” provision holds me responsible for all conditions that existed prior to me moving in; while I dont even sleep in my room any longer because the foundation is unstable, and the worsening slant of the floor makes me fear a sink hole will open up in the middle of the night.
    So many violations of code and law. I’m terrified of the inevitable battle with wall street attorneys.
    And so, I joined your website and wanted to say thank you.

  4. I also rent with invitation homes and my rent was raised in may. I tried making a payment arrangement perior to that but was told i could pay half now on rent and then pay full amount plus half the following month. Hows does that help?

    1. Greetings Raquel,

      I am very sorry to hear what you are going through with Invitation homes! I would suggest checking with your local county as it relates to evictions as well if some of your local organizations my provide assistance to help you with your rent. Lastly, NACA is hiring for remote housing counselors if that would be something you would be interested in applying for. I hope this helps!

      Damien Smith
      Online Communications, NACA

  5. I too previously rented from Invitation Home for 2 years I am also a section 8 voucher holder. I had to pay a double deposit even though I have perfect rental history. I am also disabled and I have a disabled child. While renting they raised rent twice. They also threatened to give me a 30 day notice if Section 8 didn’t get recertification packets back with new rent amount within 7 days. I was so scared. My lease was ending in 11/2019 so I decided to move. There is no way Section 8 could jump through all their hoops in one week. I had to pay water sewer garbage on top of rent. They use a company called conservice which consolidates all the bills into one then they double bill you which adds $300 more to your rent amount. The tenant also pays to have this company as there utility provider. It was the worst experience I ever had renting. I am thankful that NACA is here to help stop them…

  6. I have been renting with invitation homes for the past 3 years when I moved in I had to pay 4500 my security deposit alone was 3000 dollars and then the first months rent on top of that. My rent was 1520 the first year 1565 the second year and now this year it’s 1695 and I have no choice but to renew my rent again in February because I can’t afford to save money to move out of this house

    1. Hello Takeya,

      We’re sorry to read of your present situation. for several reasons, not the least of which being the Covit-19 pandemic, we have not been able to take on Invitation Homes as aggressively as we had hoped this year. We are definitely aware of their ongoing abuses during the pandemic, some of which have flown in the face of regulations and moratoriums, where both rent increases and evictions are concerned.

      Our best advice a the moment is to continue the search for an alternative to Invitation Homes. Contact local social services agencies who may be able to help you find more reasonably priced housing and possibly moving assistance too.

      We anticipate reviving a more intensive campaign against Invitation Homes in 2021, especially after existing moratoriums expire at the end of the year and the much-feared eviction crisis begins. for the moment though, we apologize for not being able to be involved directly.

      Tim Trumble
      Online Operations, NACA

  7. I’m not yet a current renter of Invitation Homes but I am finding it hard to find a home that can accommodate my family in the desired area and price range (outside of invitation homes); I happened across this forum and now I am afraid that I am making a mistake. Is there any additional information that can be provided? Is NACA able to assist with situations like mine?

    1. Hello Santeria Brown,

      Unfortunately, we are not in a position to be of direct help yet. The only thing we can do at this point is to encourage you to keep looking and avoid Invitation Homes under any circumstances. We will be ramping up our campaign in 2021, but are not able to be directly involved at this point in time.

      Tim Trumble
      Online Operations, NACA

    2. Hi Santeria,
      I’m shocked to read all of this because this was not my experience with them at all. I rented from them for 3 years in Illinois. I’m wondering if this is happening in certain areas.

  8. I too rent from invitation homes. I moved into a house owned by Invitiation homes about 4 years ago. The house has mold and the meter was broken for months. I received letters and visits from FPL corporate stating my house could catch on fire and can even cause death. Joe Gannon approved my move finally. I was with no choice forced to move to a house almost $500 more per month. The new house has termites mold and rats. The rat issue has been solved but mold and termites still remain. My daughter was added as a tenant because during the move she was turning 18 – the new move due to house being inhabitable. Fast track – pandemic – I paid my rent up until September although I have been impacted by the pandemic. I have been emailed with evictions notices, notices are placed on my door and threats to reposs the home. They finally gave me a payment agreement I pay $3500 up front and $1300 in addition to my rent per month. I now come to find out I wasn’t even granted a forbearance. I am being targeted directly by an employee as she has made my life miserable since I was in the old hone. I need help and guidance

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