Greystar, the nation’s largest apartment owner and manager with holdings of more than 100,000 units, has settled a far-reaching suit by the Federal Trade Commission and the State of Colorado, over deceptive advertising that conceals hidden rental fees.
“Addressing deceptive and hidden fees that trick consumers out of their hard-earned dollars is a top priority for our department,” said Colorado Attorney General Phil Weiser in a news release announcing the settlement.
An investigation by the federal Consumer Protection Bureau uncovered a pattern of deceptive pricing carried out since 2019. According to Weiser’s office, which will receive $1 million on behalf of the state in the settlement, Greystar used deceptively low prices to lure tenants while failing to disclose recurring fees for pest control, trash and concierge service, utility administration, and amenities…