Progress Residential settles rental pricing charges with FTC and states
Progress Residential and owner Pretium Partners will pay $49.75 million in total, the FTC says: $48.5 million to the FTC for redress and $1.25 million to Arizona.
Progress Residential and its owner, Pretium Partners, have agreed to settle charges brought by the Federal Trade Commission and four states over deceptive rental pricing practices, according to the FTC's press release dated November 6, 2026. The FTC says the settlement totals $49.75 million: $48.5 million to the FTC for redress and $1.25 million to Arizona.
The proposed order requires the companies to advertise true rental prices, to clearly and conspicuously disclose fees, and to stop improperly withholding security deposits, the FTC reported.
Correction, 9 November 2026: an earlier version of this story, including its summary and Coral’s read, carried a second settlement figure that is not in the FTC’s release and said the sources did not agree. That was an error in our own text processing, not a disagreement in the sources. The FTC states one total, $49.75 million. The summary, text and Coral’s read have been corrected.
The number that matters is $49.75 million, the FTC's total for the settlement. For renters the detail worth watching is the proposed order: true advertised rental prices, fees disclosed clearly and conspicuously, and an end to improperly withheld security deposits. Read the final order when it lands.
From the Coral Wire edition of Mon, Nov 9 2026 · Coral Index 66/100 (Tailwinds building)