Invitation Homes deceived renters and will refund $48 million, FTC says

Invitation Homes has agreed to pay $48 million to settle federal claims that the nation's biggest landlord for single-family homes deceived renters about lease fees and other costs, while unfairly pocketing tenants' security deposits, the Federal Trade Commission said Tuesday.

The Dallas-based company charged tens of millions of dollars in "junk fees" between 2021 and 2023, the FTC said in a statement. The mandatory monthly fees covered services such as smart-home technology and air filter delivery that could cost up to $1,700 a year, but that weren't  disclosed until renters received their lease or sometimes not until after they'd signed it, according to the agency.

"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.