Key facts
- Settlement parties are the FTC, the attorneys general of Arizona, Indiana and Colorado, and the Utah Division of Consumer Protection.
- Progress must disclose total monthly rent plus mandatory fees before a consumer commits to rent.
- Progress is barred from withholding funds for ordinary wear and tear and from misleading claims about property conditions.
- Consumer redress funds total $48.5 million, with Arizona receiving $1.25 million, per the stipulated order.
- Regulators alleged Progress restricted tenants' ability to share reviews and mishandled security deposits and maintenance complaints.
- Invitation Homes agreed in 2024 to pay $48 million to consumers and change some practices.
Progress Residential, the property manager of single-family rental homes owned by Pretium Partners, agreed to pay $49.8 million to settle deceptive and unfair practices claims brought by the Federal Trade Commission and state regulators, the company and regulators said on November 6, 2026. The company denies any wrongdoing.
In a complaint filed in the U.S. District Court for the Northern District of Georgia, regulators alleged that Progress advertised rental prices that did not reflect the full amount tenants would be required to pay, imposed hidden or inadequately disclosed fees and charges, and mishandled security deposits. The claims also included that Progress misrepresented the condition and move-in readiness of properties, restricted tenants' ability to share reviews, and failed to adequately address tenant complaints and maintenance issues.
A representative of Progress Residential and Pretium told HousingWire the companies had reached an agreement "with the FTC and four states to resolve the Commission's Civil Investigative Demand related to certain aspects of our resident experience during the period of 2021 to 2025." The spokesperson said: "The agreement contains no admission of wrongdoing, and we maintain Progress' practices have been transparent, fair, and consistent with industry practice."
The deal was reached by the FTC, the attorneys general of Arizona, Indiana and Colorado, and the Utah Division of Consumer Protection. Indiana Attorney General Todd Rokita said in a statement: "But no company, regardless of size or financial backing, gets a free pass to mislead consumers, impose hidden charges or treat tenants unfairly."
Under the settlement terms, Progress must disclose the total monthly rental price in advertisements and listings, along with mandatory fees and charges, before a consumer commits to rent. The company also must stop withholding funds for ordinary wear and tear and is prohibited from misleading claims about property conditions.
The consumer redress funds created by the settlement total $48.5 million and will be used for relief as directed by the stipulated order entered in the federal case. Arizona is receiving $1.25 million. In 2024, Invitation Homes, the largest owner of U.S. single-family rental homes, agreed to pay $48 million to consumers and change some of its practices.