Progress Residential
Single-family rental property manager with over 90,000 homes in 17 states, per the FTC
- Entries
- 9
- On the record
- 8
- Stories
- 1
- Latest entry
- Nov 6, 2026
The record
Progress Residential is a single-family home rental manager based in Scottsdale, Arizona. According to the Federal Trade Commission's November 2026 complaint, it is a Delaware company wholly owned by Pretium Partners, a New York private equity firm founded in 2012, which set up Progress in 2014 to manage the homes its funds own. Through a chain of funds and subsidiaries, Pretium owns most of the more than 90,000 homes Progress manages.
Much of what is on paper about the company comes from that complaint, and it is allegation, not finding. It says Pretium and another firm bought Front Yard Residential in 2021, adding thousands of homes Progress lacked the resources to take on, and that the Better Business Bureau told Progress about a pattern of complaints over fees in late 2021 and early 2022. It also cites a 2022 suit by Minnesota's attorney general over repairs and uninhabitable conditions.
The FTC and four states filed their case in federal court in Atlanta on November 6, 2026, together with a proposed order requiring $49.75 million and changes to how the company advertises rent and handles security deposits. In that order Progress and Pretium neither admit nor deny the allegations, apart from the facts needed to establish the court's jurisdiction. It was filed as a proposed order for the court to enter.
Roles and honours on the record
Every entry, newest first
- Filed
FTC and four states filed a complaint and proposed stipulated order in N.D. Georgia; $49.75M payment proposed, per the FTC. Progress Residential and Pretium to pay $49.75M in FTC case
- Reported
Ad hoc news reports Indiana Attorney General Todd Rokita announced the settlement with Progress and Pretium. Progress Residential and Pretium to pay $49.75M in FTC case
Stories in this file
The record, entry by entry
- 2014 Filed Pretium Partners, founded in 2012, set up Progress in 2014 to be the property manager for the homes its funds own, according to the FTC's complaint. FTC and states, complaint, N.D. Ga. No. 1:26-cv-06782
- 2021 Filed Pretium and another investment firm acquired Front Yard Residential Corp., adding thousands of homes to Progress's portfolio. The FTC complaint alleges Progress did not have enough resources to take them on, many needing significant repairs. FTC and states, complaint, N.D. Ga. No. 1:26-cv-06782
- 2021-12 Filed The Better Business Bureau told Progress about a pattern of complaints that consumers were often not aware of charges and fees applied to their accounts, the FTC complaint alleges. FTC and states, complaint, N.D. Ga. No. 1:26-cv-06782
- 2022 Filed Minnesota's attorney general sued Progress and Pretium over alleged failures to repair homes and uninhabitable conditions. According to the FTC complaint, the court denied Pretium's motion to dismiss for lack of personal jurisdiction and the appellate court affirmed. FTC and states, complaint, N.D. Ga. No. 1:26-cv-06782
- 2023 Filed The FTC complaint alleges that after learning Progress had failed to refund fees consumers were owed, the company's then-CEO told staff not to make changes, quoting him as saying he was not taking a $1M impact to do the right thing. FTC and states, complaint, N.D. Ga. No. 1:26-cv-06782
- 2026-11-06 Filed The FTC, Arizona, Colorado, Indiana and Utah sued Progress and Pretium in the Northern District of Georgia after a 2-0 Commission vote, filing a proposed order for $48.5 million to the FTC for consumer redress and $1.25 million to Arizona. The order would require listings to show the true total monthly rent, including mandatory recurring fees. Federal Trade Commission, press release
- 2026-11-06 Filed In the proposed stipulated order, Progress and Pretium neither admit nor deny the complaint's allegations, except for facts needed to establish jurisdiction, and agree to bear their own costs and attorney fees. Proposed stipulated order, N.D. Ga. No. 1:26-cv-06782