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Stock impact report

FTC plans $47M payout for renters allegedly misled by landlord giant [USA TODAY]

Invitation Homes Inc. (INVH) 
Last invitation homes inc. earnings: 2/18 04:15 pm Check Earnings Report
US:NYSE Investor Relations: invitationhomes.com/about-us
Company Research Source: USA TODAY
The FTC announced the settlement on Wednesday, March 11, saying payments would go to customers of the home rental company Invitation Homes. Called one of the largest landlords of single-family homes in the U.S. by the FTC, the company was accused of an "array of unlawful actions" in a September 2024 lawsuit lodged by the agency. Invitation Homes engaged in deceptive behavior, alleged the suit, including misleading applicants about leasing costs, charging undisclosed fees for services like “smart home technology” and “utility management," and unfairly withholding tenants' security deposits. The company was also accused of fabricating unfair charges when renters moved out, resulting in consumers paying improper fees for normal wear-and-tear, damage that happened before move-in and renovations. Invitation Homes levied so many move-out charges, said the lawsuit, that it returned only 39.2% of consumers' total security deposit dollars between 2020 and 2022, compared to the national av Show less Read more
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