US FTC fines Invitation Homes $48 million over hidden fees

(Reuters) -Invitation Homes, the largest U.S. landlord for single-family homes, agreed to pay $48 million to settle the U.S. Federal Trade Commission's claims it deceived renters about lease costs.

The company charged tens of millions of undisclosed fees between 2021 and 2023, including charges for air filter delivery, smart home technology, and "utility management," the FTC said.

The fees were not disclosed upfront when customers applied for their units, the FTC said in its lawsuit filed in Atlanta.

The $48 million will go towards reimbursing renters, the FTC said.

A spokesperson for Invitation Homes (NYSE:INVH ) did not immediately reply to a request for comment.



The case is yet another brought under the Biden administration's broad effort to tackle "junk fees" that raise the cost of living in the United States.

"No American should pay more for rent or be kicked out of their home because of illegal tactics by corporate landlords," FTC Chair Lina Khan said in a statement.

Source: Investing.com