Two Wall Street analysts are seeing warning signs for big landlords like Invitation Homes.
Raymond James downgraded its rating of Invitation Homes for the first time ever.
Single-family rental companies face new challengesHigh interest rates mean that it costs substantially more for single-family rental companies to buy up thousands of homes.
In key markets like Texas, Florida, and Georgia, property taxes may increase by 20 to 30% year-over-year, according to Raymond James.
According to Carl and Rosivach, Invitation Homes' rent collection rolls are 2% lower than they were pre-pandemic, while on-time payments are 5% lower than they were pre-pandemic.