Occupancy rate is the percentage of rented properties in a group compared to the total number of properties. Stabilized Occupancy Rate is an additional qualification of occupancy that only includes single family residential homes that are occupied or 90+ days rent-ready from their initial improvements.

As most rental homes won't be occupied at the time of IPO, measuring the stabilized occupancy rate better reflects the long-term performance of the portfolio without being skewed by adding additional properties at IPO that haven't yet been prepared for market.

That 90-day period ensures that each property has had ample time for improvements to be completed and marketed for rent. You can view the stabilized occupancy rate of the properties you have invested in via your portfolio page.

A property may be removed from stabilized if significant impairment outside the ordinary operations requires material action for an extended period.