AP Business Writer
The nation’s largest owner of single-family homes for rent has agreed to pay $48 million to settle claims by the Federal Trade Commission. The commission had alleged that Invitation Homes reaped millions of dollars via deceptive business practices, including forcing tenants to pay undisclosed fees on top of their monthly rent. The FTC said Tuesday that funds from the settlement, which is subject to approval by a federal judge, would go toward customer refunds. In its complaint, the FTC alleged that the Dallas-based company used “deceptive advertising and unfair practices” to charge millions of dollars in bogus fees that harmed tens of thousands of people.
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