Invitation Homes Settles FTC Claims for $48 Million

Invitation Homes, the largest single-family home landlord in the U.S., has agreed to a $48 million settlement with the Federal Trade Commission (FTC) over deceptive rental practices affecting tenants in Clark County, Nevada, and beyond. The FTC's investigation revealed that the company charged undisclosed junk fees and unfairly withheld security deposits, contributing to inflated rental costs and misleading eviction policies during the pandemic. U.S. Rep. Dina Titus commended the FTC's action, emphasizing its importance in combating rent gouging. The settlement mandates Invitation Homes to provide refunds to affected consumers, clearly disclose leasing prices, and establish fair handling of security deposits. While Invitation Homes claims its practices are industry-leading, this settlement marks a pivotal enforcement action by the FTC's newly formed Renter's Working Group. The proposed settlement is pending approval from a federal judge, and the company has not admitted wrongdoing.