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2025-01-17 05:12
The U.S. Federal Trade Commission, along with the State of Colorado, filed a lawsuit against Greystar Real Estate Partners, the U.S.'s largest apartment landlord, for allegedly misleading tenants about rent.
The FTC accused the firm of adding various mandatory fees to the advertised rent, making the actual cost higher than what was initially presented, according to the complaint.
“The FTC is suing Greystar for deceptively advertising low monthly rents only to later saddle tenants with hundreds of dollars of hidden junk fees,” said FTC Chair Lina M. Khan. “The FTC should continue its work taking on corporate landlords that use illegal tactics to jack up rent, exploit tenants, and deprive Americans of safe and affordable housing.”
Greystar manages more than 800K residential rental units throughout the U.S. and holds an ownership interest in more than 100K residential rental units.
On Monday, the Wall Street Journal reported the FTC was preparing to sue Greystar over alleged hidden fees charged to its tenants.