AGOURA HILLS, Calif.,
Sept. 26, 2017 /PRNewswire/
-- American Homes 4 Rent ("American Homes 4 Rent" or the
"Company", NYSE: AMH), announced today an update on the impact of
Hurricanes Harvey and Irma.
David Singelyn, Chief Executive
Officer of American Homes 4 Rent said, "We continue to prioritize
the safety and well-being of our employees and residents who were
affected by these storms, and are maintaining continuing contact
with them to provide assistance where needed."
The Company has completed its initial assessment of the impact
of Hurricanes Harvey and Irma. The Company owns approximately
9,000 homes in areas impacted by these hurricanes. The
Company's current assessment is that approximately 150 homes have
sustained major damage and approximately 30 percent of all homes in
the affected areas incurred minor damage consisting primarily of
downed trees and damaged roofs and fences.
The Company's property and casualty insurance policies provide
coverage for wind and flood damage, as well as business
interruption costs, during the period of remediation and repairs,
subject to deductibles and limits. The Company estimates that
the total amount the Company will be responsible to pay as a result
of the hurricanes is approximately $10
million.
About American Homes 4 Rent
American Homes 4 Rent is a leader in the single-family home
rental industry and "American Homes 4 Rent" is fast becoming a
nationally recognized brand for rental homes, known for high
quality, good value and tenant satisfaction. We are an internally
managed Maryland real estate
investment trust, or REIT, focused on acquiring, renovating,
leasing, and operating attractive, single-family homes as rental
properties. As of June 30, 2017, we
owned 48,982 single-family properties in selected submarkets in 22
states.
Additional information about American Homes 4 Rent is available
on our website at www.americanhomes4rent.com.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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SOURCE American Homes 4 Rent