Lessor leasing arrangements, operating leases, term of contract

  
INVITATION HOMES INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollar amounts in thousands)  
Note 6—Other Assets As of December 31, 2021 and 2020, the balances in other assets, net are as follows:

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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | December 31,2021 |  | December 31, 2020 |
| Investments in debt securities, net |  | $ | 157,173  |  |  | $ | 245,237  |  |
| Amounts deposited and held by others |  | 62,241  |  |  | 2,852  |  |
| Prepaid expenses |  | 41,490  |  |  | 41,347  |  |
| Rent and other receivables, net |  | 37,473  |  |  | 35,256  |  |
| Held for sale assets(1) |  | 20,022  |  |  | 44,163  |  |
| ROU lease assets — operating and finance, net |  | 16,975  |  |  | 21,705  |  |
| Corporate fixed assets, net |  | 16,595  |  |  | 9,995  |  |
| Investments in equity securities |  | 16,337  |  |  | 47,189  |  |
| Deferred financing costs, net |  | 8,751  |  |  | 11,637  |  |
| Deferred leasing costs, net |  | 5,837  |  |  | 7,631  |  |
| Derivative instruments (Note 8) |  | 6  |  |  | 1  |  |
| Other |  | 12,164  |  |  | 11,274  |  |
| Total |  | $ | 395,064  |  |  | $ | 478,287  |  |



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(1)As of December 31, 2021 and 2020, 80 and 179 properties, respectively, are classified as held for sale. Investments in Debt Securities, netIn connection with certain of our Securitizations (as defined in Note 7), we have retained and purchased certificates totaling $157,173, net of unamortized discounts of $1,937, as of December 31, 2021. These investments in debt securities are classified as held to maturity investments. As of December 31, 2021, we have not recognized any credit losses with respect to these investments in debt securities, and our retained certificates are scheduled to mature over the next one month to six years.Amounts Deposited and Held by OthersAmounts deposited and held by others consists of earnest money deposits for the acquisition of single-family residential properties, including deposits made to homebuilders, and amounts owed to us for sold homes. See Note 14 for additional information about commitments related to these deposits made to homebuilders.Rent and Other ReceivablesWe lease our properties to residents pursuant to leases that generally have an initial contractual term of at least 12 months, provide for monthly payments, and are cancelable by the resident and us under certain conditions specified in the related lease agreements. Rental revenues and other property income and the corresponding rent and other receivables are recorded net of any concessions and bad debt (including actual write-offs, credit reserves, and uncollectible amounts) for all periods presented.Variable lease payments consist of resident reimbursements for utilities, and various other fees, including late fees and lease termination fees, among others. Variable lease payments are charged based on the terms and conditions included in the resident leases. For the years ended December 31, 2021, 2020, and 2019, rental revenues and other property income includes $118,016, $91,573 and $92,759 of variable lease payments, respectively.F-20
