The Federal Trade Commission says thousands of renters could receive refund checks following a settlement with a major landlord.
More than 444,000 renters of Invitation Homes will be mailed checks within 90 days after the company allegedly misled customers about lease costs. The FTC says the company charged undisclosed mandatory fees, such as utility management.
The agency also accuses Invitation Homes of failing to inspect units before move-in and unfairly withholding deposits after move-out.
Renters who paid $45 or more for covered fees or charges between January 2021 and September 2024 are eligible for a portion of the $47.2 million settlement. The average check will be about $106.
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The Biden administration announced the settlement in September 2024, but it took nearly 18 months to finalize.
Invitation Homes was previously accused of deceiving customers by claiming to offer 24/7 maintenance.
Under the settlement, Invitation Homes must clearly disclose leasing prices, establish policies and procedures for handling security deposit refunds fairly, and end other unlawful practices.
Invitation Homes admitted no wrongdoing.
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Invitation Homes believes that its disclosures and practices are industry-leading among professional peers as well as millions of smaller owners of single-family homes for lease, the company said. Invitation Homes remains committed to providing a high-quality living experience for individuals and families who want flexibility and choice in housing and to transparency with all stakeholders.