The Ftc Is Readying A Case Against The Largest U.s. Apartment Landlord. Here's Why.

The U.S. Federal Trade Commission is reportedly readying to writer Greystar Real Estate Partners, nan largest level landlord successful nan U.S., for allegedly charging tenants millions of dollars worthy of hidden mandatory fees.

The fees ranged from tens to hundreds of dollars per play per tenant, added connected apical of rent, according to a Bloomberg report. They were related to services for illustration (seed) illness control, trash removal, and tenant inheritance checks.

According to Bloomberg, nan FTC is expected to allege that Greystar falsely advertised rental prices without these fees, and only told renters astir them aft they filled retired an enquiry form, paid an exertion fee, or, successful immoderate instances, paid a holding deposit. Greystar could look nan suit arsenic soon arsenic this week.

Related: State Attorneys General Sue RealPage, Landlords Over 'Astronomical' Rent Hikes: 'This Was Not A Fair Market At Work'

"Greystar has worked difficult to lead nan manufacture toward improved liking disclosures and has taken proactive steps complete nan past respective years to beforehand greater liking transparency," nan institution said successful a relationship to nan Wall Street Journal. "The astir effective measurement to achieving azygous and accordant liking disclosures crossed nan manufacture is done clear regulatory guidelines which do not yet beryllium successful nan rental space."

If filed, this suit wouldn't beryllium nan first nationalist action against Greystar. Earlier this month, nan U.S. Department of Justice expanded its August suit against existent spot package institution RealPage to spot Greystar and 5 different awesome landlords.

The suit alleges that nan landlords shared confidential accusation pinch RealPage to align and artificially inflate rents for millions of tenants.

Related: The DOJ Expands Its Lawsuit Against AI Software Company RealPage to Include 6 Major Landlords

According to nan 115-page complaint, RealPage collected elaborate accusation astir rent prices and lease position from landlords who would different beryllium competitors. The package institution past inputted nan accusation into its AI-based algorithm, which churned retired recommendations for nan landlords astir really to worth rentals.

"We are disappointed that nan DOJ added america and different operators to their suit against RealPage," Greystar wrote successful a connection past week. "Greystar has and will behaviour its business pinch nan utmost integrity. At nary clip did Greystar prosecute successful immoderate anti-competitive practices."

Greystar's website states that it has complete 700,000 rental units and $23.5 cardinal successful equity nether guidance successful nan U.S.

Related: Is One Company to Blame for Soaring Rental Prices successful nan U.S.?