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.

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.

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.