LAKEWOOD, Colo. — The Federal Trade Commission (FTC) on Tuesday announced a $48 million settlement with Invitation Homes , the largest landlord of single-family homes in the United States, for an “array of unlawful actions against consumers.”
Invitation Homes , which has around 2,500 properties in the Denver metro, agreed to pay $48 million to refund customers “harmed by its actions,” according to a release from the FTC. Those actions include “deceiving renters about lease costs, charging undisclosed junk fees, failing to inspect homes before residents moved in, and unfairly withholding tenants’ security deposits when they moved out.”
The settlement also requires Invitation Homes to “clearly disclose its leasing prices, establish policies and procedures to handle security deposit refunds fairly, and stop other unlawful behavior.”
“Invitation Homes, the nation’s largest single-family home landlord, preyed on tenants through a variety of unfair and deceptive tactics, from saddling people with hidden fees and unjustly withholding security deposits to misleading people about eviction policies during the pandemic and even pursuing eviction proceedings after people had moved out,” said FTC Chair Lina M. Khan in a statement. “No American should pay more for rent or be kicked out of their home because of illegal tactics by corporate landlords. The FTC will continue to use all our tools to protect renters from unlawful business practices.”