{ "docId": "019de518-85ac-7314-8106-8c1f6fcb701b", "docSlug": "10aabfc878485da369a16c7e887d85ef", "documentTitle": "Independence Realty Trust | Investor Presentation Deck | 55 slides", "authorId": "independence-realty-trust", "authorName": "Independence Realty Trust", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-09-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2938006, "pageNumber": 51, "pageCount": 55, "prevPage": 50, "nextPage": 52, "slideType": "appendix", "function": "appendix", "density": "overcrowded", "nDataPoints": 10, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de518-85ac-7314-8106-8c1f6fcb701b/51", "deckHref": "/decks/019de518-85ac-7314-8106-8c1f6fcb701b", "deckJsonHref": "/decks/019de518-85ac-7314-8106-8c1f6fcb701b.json", "deckAnchorHref": "/decks/019de518-85ac-7314-8106-8c1f6fcb701b#slide-51", "components": [ { "bbox": { "h": 0.056, "w": 0.87, "x": 0.045, "y": 0.19 }, "kind": "list", "text": "Slide 26\n(1) New deliveries as a % of existing inventory are from CoStar Q2 2024 data release and are specific to IRT's submarkets.\n(2) IRT's average asking rent vs. new construction suburban rent for two-bedroom apartments; reflects Yardi Matrix data.", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "106dda68-a6c4-4269-9e86-3c9102e91f34", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.056, "w": 0.69, "x": 0.045, "y": 0.122 }, "kind": "list", "text": "Slide 25\n(1) Portfolio Summary as of June 30, 2024, NOI for 2Q 2024 and total communities as of June 30, 2024.\n(2) Includes communities located in Denver, Fort Collins, Colorado Springs and Loveland, CO.", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "568a3ee1-15b2-4d6a-8cca-8d7434ce9f54", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.87, "x": 0.045, "y": 0.402 }, "kind": "list", "text": "Slide 32\n(1) The rent premium reflects the per unit per month difference between the rental rate on the renovated unit excluding the impact of upfront concessions, if any, and the market rent for an unrenovated unit as of the date presented, as determined by management consistent with its customary rent-setting and evaluation procedures. The weighted average Rent Premium including the impact of concessions was $219.\n(2) Renovation costs per unit includes all costs to renovate the interior units and make certain exterior renovations, including clubhouses and amenities. Interior costs per unit are based on units leased. Exterior costs per unit are based on total units at the community. Excludes overhead costs to support and manage the value add program as those costs relate to the entire program and cannot be allocated to individual projects.\n(3) ROI is calculated using the Rent Premium per unit per month, multiplied by 12, divided by the interior renovation costs per unit or the total renovation costs, as applicable. ROI-Interior costs using rent premium including the impact of concessions was 18.0%. ROI-Total costs using rent premium including the impact of concessions was 16.1%.\n(4) Renovations at one property in Atlanta, Georgia comprised of 496 units remain paused given current market conditions.\n(5) We consider value add projects completed when over 85% of the property's units to be renovated have been completed. We continue to renovate remaining unrenovated units as leases expire until we complete 100% of the property's units.", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "97ba2ede-3603-4d68-b664-1d751a4b3158", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.056, "w": 0.62, "x": 0.045, "y": 0.785 }, "kind": "list", "text": "Slide 33\n(1) All resident demographic data is self-reported by residents. Data as of June 30, 2024.\n(2) Data as of the last 90 days ending June 30, 2024.", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ce541c0b-07e5-481e-9edd-5be965effff0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.87, "x": 0.045, "y": 0.27 }, "kind": "list", "text": "Slide 27\n(1) Median home prices from Redfin for the month of June 2024 for actual sale prices for All Home types (Single family, Townhomes and Condos).\n(2) Top 10 IRT Markets weighted based on NOI Exposure for IRT Budget-Actuals.\n(3) Homeownership Monthly Costs are calculated using Median Home Values by market are based on the zip code in which IRT's communities are located within, PMI comes from Bank of America mortgage Calculator as of July 25, 2024. Insurance premiums and real estate taxes from Bankrate as of July 25, 2024.", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fee0af36-e4d7-4584-8fb6-782fa18a78d5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.015, "w": 0.024, "x": 0.034, "y": 0.94 }, "kind": "source-note", "text": "50", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fae98235-a91d-4439-b56a-eca0ea855455", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.033, "w": 0.39, "x": 0.045, "y": 0.058 }, "kind": "title", "text": "End Notes (continued)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c5177798-9344-4be5-b34b-f7d62659f140", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }