Big landlord settles with FTC over junk 'smart home' fees

Progress Residential, a big company that rents out single-family homes, has settled with the Federal Trade Commission (FTC). The FTC says the company charged tenants for 'smart home' fees and used other deceptive practices. The settlement includes no admission of wrongdoing by the company.

What we know

Progress Residential is backed by private equity, meaning its owners are investment firms that pool money to buy and run businesses. The company rents out single-family homes. The FTC is the federal agency that handles unfair or deceptive business practices. Reports on the settlement describe the fees as junk charges tied to 'smart home' features.

What a no-admission deal means

In many settlements, a company agrees to the terms without saying it did anything wrong. That is the case here. The agreement ends the matter on the terms set out, but it is not a finding that the company broke the law.

What is not known yet

The material available does not say how much the fees were, how many tenants paid them, or whether renters will get money back. It also does not list the other deceptive practices or any penalty. Those details would show who is affected and what comes next.

What to do

Renters can use this as a prompt to review their own paperwork. Look closely at your lease and your monthly bills for add-on tech fees you never asked for.

• Read your lease for any line about smart home or technology charges.
• Compare each monthly bill against your agreed rent.
• Ask your landlord in writing to explain any fee you do not recognize.