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Important information

• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  FEDERAL TRADE COMMISSION Plaintiff v. INVITATION HOMES INC., a corporation, Defendant
  

  On September 24, 2024, the Federal Trade Commission (FTC) took action against Invitation Homes, the country’s largest landlord of single-family homes, for an array of unlawful actions against consumers, including deceiving renters about lease costs, charging undisclosed junk fees, failing to inspect homes before residents moved in, and unfairly withholding tenants’ security deposits when they moved out.

  Under the terms of the proposed settlement, Invitation Homes would be required to turn over $48 million to the FTC to be used to provide refunds to consumers harmed by the company’s unlawful actions.

  The settlement also places several requirements on Invitation Homes moving forward. The company would be:

  • prohibited from deceiving consumers about the true rental price of a house, including a requirement to include all mandatory monthly fees in a house’s advertised rental price and disclose whether listed fees are mandatory or not.
  • prohibited from withholding security deposit money for damages that are part of normal wear and tear and requiring that any money withheld be used to repair or correct the damage for which it was withheld.
  • prohibited from using withheld security deposit money to fix issues that were present before the renter moved in or to cover the cost of maintenance, repairs, or capital improvements not related to damage caused by a renter.
  • required to notify consumers about federal, state, or local programs designed to assist people facing eviction.
  • prohibited from filing evictions against certain renters who have already moved out of their house and notified Invitation Homes of their departure.

  On September 27, 2024, the order was signed and entered by the court which also requires Invitation Homes to destroy consumer financial data it collected prior to the settlement except under certain conditions, including if that information is needed for current renters.

  To view the signed Stipulated Order for Permanent Injunction, Monetary Judgment, and Other Relief go to: https://www.ftc.gov/system/files/ftc_gov/pdf/2023170invitationhomesorderenteredbycourt.pdf

  To view the Complaint, go to: https://www.ftc.gov/system/files/ftc_gov/pdf/InvitationHomes-Complaint-signed-final.pdf

  To view the Press Release go to: https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-takes-action-against-invitation-homes-deceiving-renters-charging-junk-fees-withholding-security

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• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  THE PEOPLE OF THE STATE OF CALIFORNIA, Plaintiff v. INVITATION HOMES INC., a Maryland corporation, Defendant.
  

  On January 8, 2024, California Attorney General Rob Bonta announced a settlement with Invitation Homes to resolve allegations that the company violated the California Tenant Protection Act (TPA) and California’s price-gouging law by unlawfully increasing rents on approximately 1,900 homes.

  As part of the settlement, Invitation Homes will pay $2.04 million in civil penalties and is required to take specific actions to ensure compliance with California law. Invitation Homes also refunded or credited tenants the amount it collected in excess of state rent caps, plus 5% interest, totaling over $1.68 million.

  To view the Complaint, go to: https://oag.ca.gov/system/files/attachments/press-docs/Complaint%20%28People%20v.%20Invitation%20Homes%29.pdf  

  To view the Press Release go to: https://oag.ca.gov/news/press-releases/attorney-general-bonta-announces-settlement-invitation-homes-over-unlawful-rent

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