Progress Residential, which holds more than 90,000 properties across 17 states including metro Atlanta, and its founder and sole owner, Pretium Partners, reached the settlement with the Federal Trade Commission and the attorneys general of Arizona, Colorado, Indiana and Utah. It is the largest enforcement action the FTC has ever taken against a landlord.

According to the complaint, Progress advertised homes at baseline monthly rents that excluded mandatory recurring charges, including smart-home technology fees and utility management fees. Renters often learned the full cost only after signing a lease or moving in. The company also levied an inadequately disclosed renter's insurance exemption fee on tenants who did not show proof of coverage, a charge that frequently appeared for the first time on a first monthly invoice. Regulators said the hidden fees added tens of millions of dollars in unexpected costs to consumers since at least 2021.

"Consumers searching for housing should have access to straightforward information about the costs associated with renting a home," said Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection. "Transparency regarding rental prices and fees helps consumers compare options and make informed choices."

The complaint also alleged that Progress routinely advertised properties as thoroughly inspected and move-in ready, while many tenants arrived to find homes needing extensive cleaning, deferred maintenance or major repairs. And regulators said the company promised deposits would cover only damage beyond normal wear and tear, but instead withheld funds for pre-existing damage, ordinary wear and general renovations that were the owner's responsibility. Many departing tenants never received the itemized accounting statements the company pledged to provide within 30 days of move-out, according to the complaint.

Customer service failures formed another pillar of the case. Regulators alleged Progress failed to respond promptly to tenant inquiries or offered repetitive, unhelpful replies, leaving urgent maintenance requests, billing errors and deposit disputes unresolved while tenants racked up unfair late fees.

The complaint noted that most of the alleged conduct occurred under previous management and that current leadership has taken steps to address the problems. In a statement, Progress said, "The well-being of residents is Progress' top priority. It always will be. Over the past several years, our current management team has made significant changes designed to ensure a resident experience that is built on quality, accountability, and transparency."

Under the settlement, $48.5 million will go to the FTC to fund restitution for affected consumers, and $1.25 million will be paid to Arizona. The proposed order, filed in the U.S. District Court for the Northern District of Georgia, requires the companies to advertise the true total monthly rental price, including all mandatory recurring fees, more prominently than any other pricing figure. It bars misrepresentations about inspection status and forbids deposit deductions for normal wear and tear, pre-existing conditions or landlord renovation costs. It also mandates itemized deposit statements within 30 days of move-out or within state-law deadlines, uniform withholding standards, employee training and record-keeping, and prohibits standardized nondisparagement clauses and unfair customer service practices.

The FTC voted 2-0 to authorize the complaint and order, which takes effect once signed by a judge. For renters in metro Atlanta and beyond, the case puts a national spotlight on the fees and deposit practices of institutional landlords at a time when single-family rentals make up a growing share of the housing market.