Proposed order requires companies to advertise true rental prices, clearly and conspicuously disclose fees and stop improperly withholding security deposits
The nation’s largest property manager of single-family rental homes, Progress Residential, and its owner, private equity firm Pretium Partners, will pay $49.75 million to settle charges brought by the Federal Trade Commission and four states that the companies misled consumers with deceptive rental pricing practices.View Press Release
Progress Residential and its owner Pretium Partners will pay $49.75 million to settle FTC and state charges alleging deceptive rental pricing practices.
The article frames the settlement as a response to regulatory accusations of deceptive pricing and improper security deposit handling, emphasizing compliance requirements and financial penalty.
To inform stakeholders of the settlement and regulatory compliance, possibly to mitigate reputational damage and signal adherence to consumer protection standards.