DEVELOPING STORY · BUSINESS
Progress and Pretium propose $49.75m settlement over rental fees
CURRENT STATUS
Active · revision 3 · last updated Nov 7, 2026, 3:22 AM UTC
This page follows one event cluster. Separate stories that merely share an entity or topic are not merged into its timeline.
LATEST MATERIAL CHANGE
What changed?
Progress Residential and owner Pretium Partners have proposed a $49.75 million settlement with the FTC and four US states over allegedly misleading rental prices and other practices. The FTC announced the agreement on November 6. The proposal would require clearer advertising of rent including mandatory recurring fees, plus documented security-deposit deductions. The FTC says much of the alleged conduct occurred under previous management and that new management has taken corrective steps. Court approval is required before the proposed order takes legal effect. The announcement does not establish when individual renters will receive money.
Why it matters
For renters, the relevant price is the full monthly bill. The proposed rules would make mandatory fees harder to hide behind a lower advertised rent.
TIMELINE
Previous updates
Revision 3 · Editor publish: Checked FTC primary announcement: allegations attributed, proposed settlement subject to court approval, refund eligibility and payment dates not established. No independent company response verified. Duplicate source check passed.
Revision 2 · Primary-source review: https://www.ftc.gov/news-events/news/press-releases/2026/11/progress-residential-owner-pretium-partners-pay-4975-million-settle-ftc-states-charges-over; allegations attributed; proposed order distinguished from approved judgment; no company response independently checked. Prepared, not published.
Revision 1 · Initial ingestion
LINKED SOURCES
U.S. Federal Trade Commission · ndrayton · U.S. federal government publication; source-specific terms apply