Progress Residential and Pretium Partners to pay $49.75 million over deceptive rental practices
POLICYFederal Trade Commissionredteam/daily · 1 source
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What happened
The Federal Trade Commission and Arizona, Colorado, Indiana and Utah reached a $49.75 million settlement with Progress Residential and its owner Pretium Partners. The complaint alleges false advertised rents, undisclosed monthly fees, misleading move-in claims, improper security deposit deductions and nondisparagement clauses in lease contracts. The order requires clearer total pricing, uniform deposit withholding standards, itemised deposit statements within 30 days of move-out and an end to nondisparagement clauses. The complaint says most conduct happened under prior management.
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FTC Consumer Protection