Why did BHM's operating expenses surge in Q4 2024?

The operating expenses of Bluerock Homes Trust, Inc. Class A (BHM) experienced an increase in the fourth quarter of 2024, primarily due to new property acquisitions and increased turnover expenses.

The company's rental and other property revenues also saw a rise during the same period, up from $10,183,000 in the previous year to $11,976,000, which was attributed to the acquisition of new properties and rental rate improvements.

In summary, the surge in operating expenses can be attributed to the company's expansion through new property acquisitions and the associated costs, as well as increased turnover expenses.