NEW YORK CITY (PIX11) — Attorneys General from multiple states, including New York Attorney General Letitia James, are calling on the Federal Trade Commission to address “unfair and deceptive fee practices” in the rental housing market.
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They’re also calling on the FTC to establish consistent minimum standards while allowing states to continue regulating rental markets based on local conditions.
“Rent is already too high, but corporate landlords are adding hidden junk fees that make housing even less affordable,” said James in a statement. “Renters deserve to know the true cost of housing upfront, not after they have already committed their time and money. We are urging the FTC to take action so families can make informed decisions and avoid deceptive pricing.”
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In the letter, the coalition highlighted that prospective renters encounter “bait-and-switch” tactics in which advertised rents appear lower than the actual cost. Additional mandatory fees are disclosed late in the application process or after a lease is signed, the attorneys general say.
These practices can increase the true cost of housing and limit consumers’ ability to make informed financial decisions and compare options, according to the coalition.
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“Establishing clear, nationwide standards would help ensure renters in New York can better understand and compare the true cost of housing,” read a statement from James’ office…