Greystar to Pay $24 Million to End FTC Suit on Misleading Fees

Greystar agreed to pay $24 million to resolve a lawsuit from the US Federal Trade Commission and state of Colorado accusing the company of deceiving apartment renters in its properties.

Greystar is paying $23 million to the FTC and $1 million to Colorado, according to a statement. Most of the total settlement will go toward refunds to its renters, the FTC said. The largest third-party apartment manager in the US also agreed to change how it discloses to potential renters the fees associated with its properties, the consumer protection agency said in a release announcing the settlement.

“Greystar ...