The biggest US single-family landlord will pay $49.75 million over fees that added $30 to $330 a month, FTC says

Progress Residential, the country's largest property manager of single-family rental homes, and its private equity owner, Pretium Partners, have agreed to pay $49.75 million to settle charges that they deceived renters about the true cost of their homes. The Federal Trade Commission called it the largest enforcement action it has ever taken against a landlord. Arizona, Colorado, Indiana, and Utah joined the case, which was filed November 6 in federal court in Atlanta.

The companies neither admit nor deny the allegations in the proposed order, which still needs a judge's approval. A Progress spokesperson said its practices "have been transparent, fair, and consistent with industry practice." The complaint itself says most of the conduct happened under prior management and that new management has moved to fix the problems.

The heart of the case is the gap between the advertised rent and the actual bill. According to the complaint, Progress renters typically paid $30 to $330 or more a month above the price in the listing. That's $360 to $3,960 a year. Measured against the typical US rent of $1,932 in September 2026, from RentDataNow data built on the Zillow Observed Rent Index, it would add 1.6% to 17%.

The government's case goes well beyond fees. It alleges Progress advertised homes as move-in ready when many needed serious repairs or cleaning, and had a policy of using Photoshop to remove dirt from walls and carpets and to insert appliances in listing images. It also alleges the company routinely kept deposit money for normal wear and tear, preexisting conditions, and renovations, and that its contracts barred negative comments. In 2023, after learning Progress had failed to refund certain fees, the then-CEO told staff not to make changes, explaining, "I am not taking $1M impact to do the right thing," according to the complaint.

Of the settlement, $48.5 million goes to the FTC, which can use it for refunds to harmed renters. The other $1.25 million goes to Arizona for attorney's fees and costs. No refund process has been announced, and the FTC warns that it will never demand money or tell you to transfer money. Going forward, Progress would have to advertise the total monthly price, including all mandatory recurring fees, more prominently than any other price, and send itemized deposit statements within 30 days of move-out or sooner if state law requires.

The case matters beyond one company. About 24.5% of US renter households, or 11.3 million, live in detached single-family homes, according to the US Census Bureau. Invitation Homes, another large single-family landlord, agreed to pay $48 million in a similar FTC case in 2024, and the agency is exploring a rule that would require mandatory fees to be listed up front.

Until then, ask for the total monthly cost in writing before you pay an application or holding fee, and read every fee addendum in the lease. Photograph the home the day you move in. If you're fighting a deposit charge, see how to dispute a security deposit deduction, and for where the law is changing, the states cracking down on rental junk fees.

Sources

• Federal Trade Commission press release (November 2026)

• FTC case page, complaint and stipulated order, Civil Action 1:26-cv-06782-VMC, US District Court for the Northern District of Georgia

• Gizmodo, for the company's statement

• Reuters, via Devdiscourse, for the Invitation Homes case and the FTC's fee rule work

• US Census Bureau, American Community Survey 1-year estimates, 2024, table B25032

• RentDataNow national rent data, anchored to the Zillow Observed Rent Index, September 2026