Home Rental Company to Pay $48 Million Over Alleged Deceptive Practices

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  • The FTC settled with Invitation Homes Inc. to resolve allegations that its home rental service practices violated the FTC Act and the Gramm-Leach-Bliley Act (GLB Act).
  • The complaint alleged that Invitation Homes engaged in deceptive pricing by advertising monthly rental rates that excluded mandatory fees, unfairly withheld security deposits for renovation costs unrelated to damage by the renter, and made misleading promises that homes were pre-inspected and that it offered tenant services such as “24/7 emergency maintenance” when many properties were in disrepair.  The FTC also alleged that Invitation Homes engaged in unlawful eviction-related practices and violated the GLB Act by using the deceptive and misleading statements to obtain the tenant’s financial information, among other things.
  • Under the terms of the settlement, Invitation Homes must pay $48 million in civil damages and reform its practices, including notifying consumers about government rental-assistance programs and refraining from misrepresentations about rental price, among other relief.
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