Overview
- Greystar will pay $23 million to the Federal Trade Commission for consumer refunds and $1 million to Colorado for regulatory oversight.
- The company must advertise the total monthly lease price and clearly disclose each fee’s amount, purpose, timing, and whether it is mandatory before collecting any payment such as an application fee.
- Greystar is required to comply within 90 days under a final order the FTC voted 2-0 to file in the U.S. District Court for the District of Colorado.
- FTC and Colorado officials alleged violations of the FTC Act, the Gramm-Leach-Bliley Act, and the Colorado Consumer Protection Act for advertising deceptively low rents that excluded fixed monthly fees.
- The resolution follows separate actions linked to RealPage, including a $7 million multistate settlement and a $50 million class-action deal, signaling continued scrutiny of algorithmic rent-setting.