Gizmodo
Private Equity Landlord Settles With FTC for Charging Junk ‘Smart Home’ Fees, Other Deceptive Practices
Progress Residential will pay nearly $50 million to settle FTC allegations of hidden fees, improper security deposit deductions, and misleading rental photos.
By Gizmodo
Excerpt shared by Lazyfounder
·Excerpt
Progress Residential, the largest property manager of single-family rental homes in the U.S., will pay $49.75 million to settle charges brought by the Federal Trade Commission and four states that it engaged in deceptive practices, according to a press release from the federal agency.
Progress Residential is owned by private equity firm Pretium Partners and was accused by…
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