Penalty Amount
$49,750,000
The FTC and four states alleged that Progress Residential and Pretium Partners misled renters about rental prices and fees, improperly withheld security deposits, and engaged in other unlawful conduct. Under a proposed settlement, the companies will pay $49.75 million and must change their pricing, deposit, and customer-service practices.
The companies will pay $49.75 million, including $48.5 million to the FTC for consumer redress and $1.25 million to Arizona. The proposed order requires truthful, prominent disclosure of total rental prices; prohibits certain misrepresentations and security-deposit deductions; requires a standardized deposit refund process, training, and records; and restricts nondisparagement clauses and certain customer-service practices.
Review consumer-facing leases, rental advertisements, fee schedules, and security-deposit terms to ensure the total monthly price includes all mandatory recurring fees, one-time and conditional charges are clearly disclosed, and deposit deductions are limited to documented renter-caused damage with timely itemized statements. Review property-management vendor agreements for inspection and move-in-condition representations, maintenance and customer-service response obligations, recordkeeping, training, and escalation procedures. Remove or revise standardized nondisparagement clauses in customer agreements and check related customer-service policies for practices that could obstruct resolution of billing, maintenance, or deposit disputes.
Entity
Progress Residential and Pretium Partners
Industry
Real EstateOfficial Press Release
https://www.ftc.gov/news-events/news/press-releases/2026/11/progress-residential-owner-pretium-partners-pay-4975-million-settle-ftc-states-charges-over
2423073progressresidentialcomplaint
https://www.ftc.gov/system/files/ftc_gov/pdf/2423073progressresidentialcomplaint.pdf
2423073progressresidentialstipulatedorder
https://www.ftc.gov/system/files/ftc_gov/pdf/2423073progressresidentialstipulatedorder.pdf
Federal Trade Commission Enforcement Page
https://www.ftc.gov/enforcement
"Progress Residential, and its owner, private equity firm Pretium Partners"
"will pay $49.75 million to settle charges"
"advertised false rental prices, charged hidden fees, failed to inspect homes before residents moved in, improperly deducted amounts from renters’ security deposits, restricted negative reviews, and failed to provide adequate customer service."
"November 6, 2026"
"Arizona, Colorado, Indiana and Utah"
The FTC and 22 state attorneys general filed an updated complaint alleging that Amazon secretly added surcharges to advertising auction prices and misled advertisers about the reasons for price increases. The release describes newly unredacted allegations; it does not report a judgment, settlement, or monetary penalty.
$600K
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