Congresswoman Dina Titus (D-NV1) today released the following statement after the Federal Trade Commission took action against Invitation Homes for deceiving renters about lease costs, charging undisclosed junk fees, failing to inspect homes before renters moved in, and unfairly withholding tenants’ security deposits when they moved out.

“The FTC took a major step in addressing deceptive rental practices in Southern Nevada which have contributed to skyrocketing rental costs,” Congresswoman Titus said. “Invitation Homes is the second-largest owner of single-family homes in Clark County, with some 3,500 homes. The FTC action requires Invitation Homes to make refunds to consumers and sends a strong message that rent gouging will not be tolerated.”

Invitation Homes has agreed to a proposed settlement order that would require the company to turn over $48 million to be used to refund consumers harmed by its actions nationally. The corporate landlord will also be required to clearly disclose its leasing prices, establish policies and procedures to handle security deposit refunds fairly, and stop other unlawful behavior.

See FTC's news release for more background.