As buyers face challenges purchasing homes, one of the nation’s largest companies that has moved into the rental market for single-family homes has agreed to a $48.5 million settlement with the Colorado Attorney General’s Office and the Federal Trade Commission after an investigation found it guilty of false advertising.
Scottsdale, Ariz.-based Progress Residential, LLC, was advertising misleading prices, charging hidden fees and delivering homes to renters that were in need of inspection and repair, according to an announcement by Attorney General Phil Weiser.
The charges included failing to handle consumer requests regarding serious maintenance and billing issues…