image

Progress Residential and Pretium Partners to Pay $49.75 Million for Deceptive Rental Practices

Progress Residential and Pretium Partners to Pay $49.75 Million for Deceptive Rental Practices

Progress Residential, the nation’s largest manager of single-family rental homes, and its private-equity owner Pretium Partners agreed to pay $49.75 million to settle Federal Trade Commission and state charges that they misled renters about costs and conditions. The enforcement action is the largest ever taken against a landlord in the Commission’s history.

The Federal Trade Commission and the states of Arizona, Colorado, Indiana and Utah allege the companies advertised lower monthly rents while hiding mandatory fees, charged undisclosed one-time fees, and failed to inspect homes before tenants moved in. They also say the firms improperly deducted security-deposit funds for normal wear and tear, pre-existing damage, and even renovations they were responsible for.

Alleged Deceptive Pricing and Fees

The complaint says Progress listed a false monthly rental price that omitted required monthly fees such as a smart home or utility management charge. Renters often discovered an additional renter’s insurance exemption fee on their first bill. These hidden costs, the FTC says, have cost consumers tens of millions of dollars since at least 2021.

What Affected Renters Can Do
  1. 1Gather lease agreements, rent statements and any communication about fees
  2. 2Request an itemized security-deposit statement within 30 days of move-out
  3. 3Keep records of maintenance requests and billing disputes
  4. 4Consult a consumer-rights attorney for guidance on recovering losses

Source: Federal Trade Commission

Move-In Condition Claims

Progress promoted its homes as move-in ready and claimed they were inspected before occupancy. Tenants reported serious maintenance, repair or cleaning problems that contradicted those statements.

Security Deposit and Customer Service Issues

Renters were told deposits would only be used for damages beyond normal wear and tear, yet the companies routinely withheld deposits for ordinary wear, pre-existing conditions, and even capital improvements. Many never received the required itemized statement within 30 days of move-out. The complaint also cites slow or nonexistent customer-service responses, leading to unresolved billing errors, late fees and maintenance requests.

What This Means for Renters

Under the settlement, Progress must advertise the true total monthly rental price, including all mandatory fees, more prominently than any other pricing. The firm is barred from claiming homes are inspected unless they truly are. It must create a uniform security-deposit refund process, provide itemized statements within 30 days, and stop deducting for normal wear, pre-existing damage, or unrelated renovations. The companies also cannot force renters to sign nondisparagement clauses or engage in unfair service practices.

Anyone who believes they were overcharged or had a deposit wrongfully withheld should keep lease documents, billing statements and any communication with the landlord. Consulting a consumer-rights attorney can help determine eligibility for compensation and ensure the new rules are being followed.

What this means: our conclusions

2 Good news1 Risk1 What to watch1 What to do
  1. Good newsGreater Pricing Transparency for Renters

    The settlement forces landlords to show the full monthly cost, helping renters compare options and avoid hidden fees.

  2. Good newsStricter Deposit Refund Rules

    Standardized refund procedures limit landlords’ ability to keep deposits for normal wear, protecting tenants’ money.

  3. What to watchPotential Industry Shift

    Other property managers may adopt similar disclosures to avoid FTC action, raising overall market fairness.

  4. RiskRisk of Continued Non-Compliance

    If Progress fails to follow the new rules, renters could still face improper charges, so monitoring is needed.

  5. What to doAction for Affected Tenants

    Keep lease and payment records, and contact a consumer-rights lawyer to explore restitution options.

Primary sources & the law

Find a lawyer for this issue

Federal rules apply nationwide, but your options depend on your state and situation. Browse attorneys by practice area, then pick your state.

This article is general information based on Federal Trade Commission and court or agency records available at publication time. It is not legal advice; laws and deadlines differ by state and by case. Published November 6, 2026.

Source: Federal Trade Commission

More from Federal & Nationwide