The Federal Trade Commission (FTC) has reached a settlement agreement with the nation's largest owner of single-family homes for rent, requiring them to pay $48 million to resolve claims of deceptive business practices. The company, based in Dallas, was accused of imposing undisclosed fees on tenants in addition to their monthly rent.
As part of the settlement, Invitation Homes has agreed to clearly disclose leasing prices, establish fair procedures for handling security-deposit refunds, and cease engaging in other unlawful practices. The FTC filed a complaint in federal court in Atlanta, alleging that the company used deceptive advertising and unfair practices to charge tenants millions of dollars in undisclosed fees for services like internet packages and air-filter delivery.
