The company acquired 2,877 homes during the year, indicating a continued focus on strategic expansion. These acquisitions are aimed at strengthening their market position and capitalizing on growth opportunities.

The company sold 1,423 homes during the year, resulting in a net gain on sale of property. This strategy allows the company to recycle capital into higher-yielding opportunities and improve overall portfolio quality.

Management fee revenues increased by 18.9% year-over-year, indicating success in diversifying revenue streams beyond rental income. This expansion enhances the company's resilience to market fluctuations.

The 10-K details the ProCare service, highlighting touchpoints designed to improve resident satisfaction and home efficiency. This proactive approach can lead to higher retention rates and reduced turnover costs.

The company emphasizes associate well-being, health, safety, and DE&I initiatives. High associate engagement, as evidenced by a strong Net Promoter Score, contributes to operational efficiency and resident satisfaction.

The company utilizes technology and data analytics to support local market operations and drive efficiency, consistency, and cost savings. This scalable infrastructure enables better management of a large, geographically dispersed portfolio.

The company acknowledges risks associated with economic conditions, real estate assets, and the single-family rental market, including unfavorable economic conditions, bank failures, and geopolitical tensions. These factors could impact operating results and financial condition.

The company highlights the risk of increasing property taxes, insurance costs, and HOA fees, which are relatively inflexible. The inability to adapt the cost structure to offset revenue declines could adversely affect financial results.

The company acknowledges that a significant outbreak of infectious disease, medical epidemic, or a pandemic may result in a widespread health crisis and may lead to an economic downturn that could negatively affect our business, results of operations, and financial condition.

The company acknowledges competition for residents from other lessors of single-family properties, apartment buildings, and condominium units. This competition may limit the ability to lease homes on favorable terms.

The company faces competition from larger investors, private equity funds, and other REITs for property acquisitions. This competition may result in higher prices and lower yields.

The company believes its acquisition platform, in-market property operations infrastructure, and local expertise provide competitive advantages in acquiring and managing properties.

The company's ProCare service platform includes several touchpoints designed to enhance resident satisfaction and improve the efficiency of service and home systems.

The company's operating structure, with Vice Presidents of Operations in each core market, enables superior resident service and maximizes the effectiveness of in-market associates.

The company supports local market operations with national strategy, infrastructure, and technology-enabled workflows to drive efficiency, consistency, and cost savings.

The company offers a mobile-responsive website, an iOS app, and an Android app for residents to browse homes, take virtual tours, request information, apply for leases, request maintenance, pay rent, and learn about value-add services.

Associates are able to support and manage requests for critical functions such as leasing and maintenance through easy-to-use digital tools.

The company takes a proactive approach and engaging with our third-party vendors about service delivery and implementing security risk management controls allow us to mitigate any potential negative impact on our business.

The company acquired 2,877 homes during the year, indicating a strategic focus on expanding its portfolio and market presence.

The company sold 1,423 homes during the year, demonstrating a commitment to optimizing its portfolio and recycling capital into higher-yielding opportunities.

The company utilizes a mix of secured and unsecured debt, with a focus on managing interest rate risk and maintaining financial flexibility.

The company emphasizes environmental sustainability and being a good corporate citizen, focusing on environmental impacts within their control.

The company strives to provide a work environment that attracts, develops, and retains top talent by creating an engaging work experience with opportunities for development.

The company strives every day to ensure that our actions result in value for the individuals and organizations that have chosen to invest in our company, and we take that responsibility very seriously.

The company's business operations and properties are subject to various covenants, laws, ordinances, and rules. We seek to comply in all material respects with such covenants, laws, ordinances, and rules, and we also require that our residents agree to comply with such covenants, laws, ordinances, and rules in their leases with us.

Our business and related operating results have been, and we believe will continue to be, impacted by seasonal factors throughout the year. In particular, we have experienced higher levels of resident move-outs during the summer months, which impacts both our rental revenues and related turnover costs.

Changes in laws, including those that increase operating expenses or limit our ability to increase rental rates. See "Legal and Regulatory Related Risks Eviction, tenant rights, rent control, and rent stabilization laws, and other similar laws and/or regulations that limit our ability to collect rent, enforce remedies for failure to pay rent, or increase rental rates may negatively impact our rental income and profitability;"