Bullet points of Invitation Homes deceived renters and will refund $48 million, FTC says
Bullet points of Invitation Homes deceived renters and will refund $48 million, FTC says
- Invitation Homes agreed to pay $48 million to settle federal claims that it deceived renters about lease fees and security deposits.
- The company charged tens of millions of dollars in 'junk fees' for services like smart-home technology and air filter delivery, which were not disclosed until after renters signed their lease.
- Invitation Homes will be refunding $48 million to residents and changing its practices, including disclosing fees in advertised rental prices.
- The company made deceptive claims about the condition of properties, withheld security deposits without cause, and failed to inform tenants about federal eviction protections during the pandemic.
- New residents faced issues like sewage backup, broken appliances, and visible rodent feces, despite being promised a 'worry-free leasing lifestyle'.
- The proposed settlement requires Invitation Homes to disclose fees in advertised rental prices and not withhold security deposits for damages not caused by tenants.
- This is the first enforcement action by the FTC since it formed a working group to examine unfair, deceptive, and anticompetitive practices affecting renters.
- Invitation Homes agreed to pay $48 million to settle federal claims that it deceived renters about lease fees and security deposits.
- The company charged tens of millions of dollars in 'junk fees' for services like smart-home technology and air filter delivery, which were not disclosed until after renters signed their lease.
- Invitation Homes will be refunding $48 million to residents and changing its practices, including disclosing fees in advertised rental prices.
- The company made deceptive claims about the condition of properties, withheld security deposits without cause, and failed to inform tenants about federal eviction protections during the pandemic.
- New residents faced issues like sewage backup, broken appliances, and visible rodent feces, despite being promised a 'worry-free leasing lifestyle'.
- The proposed settlement requires Invitation Homes to disclose fees in advertised rental prices and not withhold security deposits for damages not caused by tenants.
- This is the first enforcement action by the FTC since it formed a working group to examine unfair, deceptive, and anticompetitive practices affecting renters.