Home Partners of America is a sale-leaseback service that helps buyers rent a home they may eventually buy.
A potential buyer will apply to Home Partners of America. On approval, they will work with a partner real estate agent to find a home that meets approval criteria. Home Partners of America then buys the home, and the resident signs a lease agreement as well as an agreement for the price at which they can purchase the home from Home Partners of America later. Rental payments do not go towards the purchase price or home equity.
According to most sources, Home Partners of America rental and transaction prices will vary by case,.==.
Home Partners of America makes money primarily by renting a purchased property to the potential buyer. If a renter chooses to purchase the home, there are additional service fees for closing costs and maintenance costs that ensure Home Partners of America generates additional income above the purchase price of the home. Home Partners of America also has other service and application fees similar to normal rental and sale properties.
Home Partners of America was acquired by Blackstone Group, an investment management company, for $6 billion in June of 2021. Private equity firm KKR and money manager BlackRock were two large shareholders in Home Partners of America prior to the acquisition.