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FTC to Send $47M in Checks to Renters Allegedly Deceived by Corporate Landlord: Who Qualifies?
The Federal Trade Commission will send $47.2 million to 444,131 renters after alleging Invitation Homes charged undisclosed fees and withheld security deposits.
- The FTC said Wednesday it will send $47.2 million in refunds to renters nationwide as part of a settlement with Invitation Homes, resolving allegations of deceptive leasing costs.
- The FTC's complaint says Invitation Homes hid mandatory "junk" fees totaling about $1,700 annually, charged undisclosed application and reservation fees, failed home inspections, and withheld security deposits.
- The FTC said it will mail checks to 444,131 affected consumers who paid Invitation Homes $45 or more between January 2021 and September 2024, with an average payment of $106 and recipients urged to cash checks within 90 days.
- As part of the settlement, Invitation Homes will disclose leasing prices, establish fair security deposit procedures, and agreed to the deal without admitting wrongdoing; consumers with prior credits are ineligible for FTC payments.
- Given its scale, the settlement affects Invitation Homes' nationwide footprint of more than 109,000 homes as of June 30, 2024, and includes an FTC order requiring about $48 million turnover and behavioral changes.
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14 Articles
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FTC To Distribute $47 Million In Checks To Renters Who Paid Unfair Charges To America's Largest Corporate Landlord: Here Is What You Need To Qualify - Invitation Homes (NYSE:INVH)
FTC refunds $47.2 million to renters charged hidden fees by Invitation Homes, reaches settlement forcing new pricing rules. INVH shares fell.
·New York, United States
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FTC to send $47M in checks to renters allegedly deceived by corporate landlord that has 300+ NC homes
The Federal Trade Commission (FTC) announced Wednesday it will be distributing over $47.2 million to renters who were duped into paying additional fees to single-family rental giant Invitation Homes. The company owns several properties across the Tar Heel state. Their website shows more than 300 homes are available for rent across central North Carolina and the Charlotte area.
·Raleigh, United States
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