Home Partners of America

What Home Partners of America does

Home Partners of America is a privately held single-family rental company founded in the mid-2010s that provides residential tenants with rental homes and an embedded pathway to homeownership. The company's core products are the Right to Purchase option, which grants eligible residents the right to buy their rental home at predetermined terms and pricing, and the Already Home program, a lease-to-own arrangement that allows residents to work toward purchasing the home they rent. Homes are equipped with smart home technology and supported by professional maintenance services, targeting individual residential tenants who face housing affordability constraints or seek a flexible route to ownership.

Home Partners of America was acquired by Blackstone Inc. in 2021, becoming part of the firm's institutional single-family rental portfolio of approximately 17,000 homes. Under Blackstone's ownership, HPA operates as a brand entity while asset-level operations are managed externally. Starting January 27, 2025, Tricon Residential assumed property management responsibility for the entire HPA portfolio, handling maintenance requests, rent collection, and resident services while honoring all existing lease terms, Right to Purchase agreements, and Already Home options. Tricon supplements the resident experience with its own suite of services, including smart home technology, financial wellness programs, and a resident mobile application.

The business model is straightforward recurring rental income generated from a portfolio of approximately 17,000 single-family homes, supplemented by optional lease-to-purchase conversion economics when tenants exercise their Right to Purchase. Revenue streams are entirely B2C and geographically dispersed across the United States, with no disclosed enterprise or institutional tenants. Operational scale, capital backing from Blackstone, and Tricon's specialized SFR management infrastructure together form the operating backbone of the company, while pricing details remain undisclosed publicly.

Name

Home Partners of America

Legal name

Home Partners of America

Website

https://homepartners.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Home Partners of America is a Blackstone-owned single-family rental company offering individual tenants rental homes with embedded Right to Purchase and Already Home lease-to-own options, currently operated by Tricon Residential across approximately 17,000 US homes.

Ownership category

akta.pro rank

Product category

Single-family rental housing

NAICS

Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Single-Family Corporate Rentals (Furnished Homes) (THAMAHAH)

akta.pro secondary industry

Co-Living Property Management (BPAJAFAJ)

Keywords

• Single-family rentals
• Lease-to-own housing
• Residential property management
• Path to homeownership
• Rental home services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Single-Family Rental Income: Home Partners of America generates revenue through rental income from its portfolio of single-family homes. The company offers tenants rental homes with the option to eventually purchase the property (Right to Purchase program).

Core offering

Home Partners of America provides single-family rental homes through programs that allow residents to either rent with the option to purchase (Right to Purchase) or work toward homeownership (Already Home). The company manages a portfolio of approximately 17,000 single-family rental homes. Property management was transitioned to Tricon Residential in January 2025 following Blackstone's acquisition of the company in 2021.

Product overview

Home Partners of America offered a single-family rental home platform with two primary resident programs: the Already Home Program (a lease-to-own option) and the Right to Purchase Option (allowing residents the right to buy their home). As of January 27, 2025, property management of HPA homes transitioned to Tricon Residential, though existing purchase agreements and lease terms remained unchanged. HPA's model focused on providing residents with pathways to homeownership through professionally managed single-family rental properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Right to Purchase Option A rental program that gives eligible residents the option to purchase the home they are renting at a predetermined price set at the time of lease signing. Designed for individual renters who want a clear path to homeownership.
• Already Home Program A lease-to-own program that allows residents to build toward purchasing the home they rent. Aimed at individual tenants who want to transition from renting to owning their home.

Segments1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Tricon ResidentialcoreStrategic or Co-development PartnerTricon Residential assumed property management responsibility for Home Partners of America's portfolio starting January 27, 2025. Tricon honors all existing HPA lease terms, Right to Purchase agreements, and Already Home options. Residents continue to have access to Tricon's suite of services including smart home technology, maintenance, and financial wellness programs.

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• FirstKey Homes: Privately held US single-family rental operator with a portfolio of tens of thousands of homes. Closely comparable scale, geographies, and rental product to HPA.
• Invitation Homes: Largest publicly traded US single-family rental REIT (~80,000+ homes). Directly comparable institutional SFR peer with the same core product type (professionally managed single-family rental homes) and similar tenant base.
• American Homes 4 Rent: Public US single-family rental REIT with a ~60,000-home vertically integrated portfolio. Comparable institutional SFR operator serving residents in similar Sun Belt / growth markets with similar operational scope.
• Progress Residential: Large US single-family rental operator also owned by Blackstone — a sister platform within Blackstone's SFR franchise. Directly comparable single-family rental model, tenant programs, and capital backing.
• Front Yard Residential: US single-family rental REIT (acquired by Pretium in 2021). Highly comparable SFR operator with similar tenant programs and market focus during the period it operated as a public REIT.
• Tricon Residential: US single-family rental operator and the new property manager of HPA homes as of January 27, 2025. Operates an almost identical SFR model with resident programs, smart-home technology, and the Tricon Vantage suite that now covers HPA residents.
• Pretium Partners: US institutional SFR / single-family rental housing investor and operator (also acquired Front Yard Residential). Comparable business model in institutional SFR ownership and operations.
• Amherst Holdings: Institutional single-family residential buyer and operator in the US. Overlapping asset class, tenant demographic, and operating approach to HPA's SFR portfolio.

Others

• Doma (formerly title tech / real estate services): US real estate technology / title and closing services company. Not an SFR operator, but adjacent to HPA's purchase-option workflow (title, closing, escrow) generated under the Right to Purchase / Already Home programs.

Emerging players

• Roofstock: Online marketplace and investment platform for single-family rental properties. Targets the same SFR asset class and tenant/property-owner ecosystem but with a tech-enabled marketplace model rather than direct ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/HomePartners
• LinkedInlinkedin.com/company/home-partners-of-america
• Instagraminstagram.com/triconcares
• Xx.com/homepartners

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Home Partners of America