Greystar, the nation’s largest multi-family rental property manager, has agreed to pay $23 million to the Federal Trade Commission (FTC) and $1 million to the state of Colorado over deceptive practices.
The FTC said Greystar will stop its deceptive advertising practices to resolve charges that the company misled consumers about monthly rent costs by tacking on hidden fees on top of advertised prices, according to a release from the Federal Trade Commission.
The proposed order also requires the company to clearly and conspicuously display total monthly leasing prices and mandatory fees.
“Greystar misled consumers by advertising low rent prices and then adding mandatory fees at the end of the sales process,” said Christopher Mufarrige, director of the FTC’s Bureau of Consumer Protection, in the release.
“At a time when Americans are struggling to find affordable housing, the FTC is focused on monitoring the housing marketplace to ensure that competitors are meaningfully competing on price and that consumers receive transparent pricing.”
In January 2025, the FTC and Colorado alleged Greystar misrepresented the true cost of renting a Greystar property by displaying a deceptively low rental price.
The deceptive prices excluded several fixed, mandatory monthly fees, instead of the total monthly price that people would have to pay, in violation of the FTC Act, the Gramm-Leach-Bliley Act, and the Colorado Consumer Protection Act, according to the release.
In addition to paying $24 million, of which $23 million would be used to refund consumers harmed by Greystar’s actions.
The proposed order would require Greystar to:
- Refrain from misrepresenting the total monthly leasing price of a rental unit, pricing information related to fees charged at a rental property, and any material aspects of its home rental services;
- Make particular disclosures when it makes certain representations. Specifically, when Greystar advertises base rent or another partial pricing, it is required to more prominently disclose the total monthly leasing price of that unit; and
- Before taking any payment, such as a nonrefundable application fee, clearly and conspicuously provide details about all fees, including the amount and purpose of the fee and whether it is mandatory, and disclose the total monthly leasing price.
The FTC and Colorado filed the order in the U.S. District Court for the District of Colorado.
