Progress Residential to pay $49.75M in FTC rental settlement

Progress Residential and its parent company, Pretium Partners, have reached a $49.75 million settlement with the Federal Trade Commission and state regulators to resolve allegations of deceptive rental practices. The agreement, announced on Nov. 6, 2026, concludes an investigation into how the nation's largest single-family rental property manager handles tenant fees and property disclosures.

Under the terms of the settlement filed in the U.S. District Court for the Northern District of Georgia, $48.5 million will be directed to the FTC to provide redress for consumers. An additional $1.25 million will be paid to the state of Arizona. The company has denied any wrongdoing in connection with the allegations.

Regulators charged that the company misled tenants regarding the condition of homes and the status of property inspections. Furthermore, the complaint alleged that the firm failed to clearly disclose mandatory rental fees and mishandled security deposits. These practices reportedly led to financial harm for renters who were unaware of the total costs associated with their leases.

The court-ordered settlement requires the company to implement new standards for its rental operations. Moving forward, the firm must advertise the total monthly rental price, including all mandatory recurring fees, more prominently than other pricing information. Additionally, the company is required to establish uniform standards for security deposit deductions and provide itemized statements to tenants within 30 days of move-out, or as required by state law.

The agreement also mandates that the company stop misrepresenting whether its properties have successfully passed required inspections. This settlement is independent of other ongoing legal matters involving the company, including a separate class-action lawsuit concerning eviction-related attorney fees in Florida.