The largest single-family rental property manager in the United States has agreed to pay $49.75 million to settle alleged charges that it deceived customers about rental prices.
Headquartered in Scottsdale, Arizona, Progress Residential has “routinely charged consumers hidden monthly fees after misleading them with false rental prices,” according to a Nov. 6 lawsuit filed by the Federal Trade Commission (FTC) and the states of Arizona, Colorado, Indiana, and Utah.
The complaint said the company also allegedly charged a host of other deceptive and unlawful one-time and situational fees throughout its leases.
The complaint alleged that Progress delivered homes without repairing or inspecting them before customers moved in, made illegitimate charges on customers’ security deposits, and dodged customer service requests about billing errors and maintenance issues….