• Nation's largest apartment manager deceived renters by advertising low prices then adding mandatory fees

• $23 million will go directly to consumers who were overcharged by hidden fee practices

• New court order requires upfront disclosure of all monthly costs before taking any payments

If you've been apartment hunting lately, you've likely encountered this frustrating scenario: You see an attractive rental price online, only to discover at lease signing that mandatory fees push your monthly cost hundreds of dollars higher.

Now federal regulators are cracking down on this deceptive practice in a major way.

What's happening with Greystar's settlement

On December 2, 2025, Greystar – the nation's largest multi-family rental property manager – agreed to pay $24 million to settle charges that it misled consumers about true rental costs.

The Federal Trade Commission and Colorado alleged that Greystar displayed deceptively low rental prices that excluded fixed, mandatory monthly fees. Instead of showing the total amount renters would actually pay each month, the company buried additional costs in the fine print.

"Greystar misled consumers by advertising low rent prices and then adding mandatory fees at the end of the sales process," said Christopher Mufarrige, Director of the FTC's Bureau of Consumer Protection.

The settlement requires Greystar to pay $23 million directly to harmed consumers, plus $1 million to Colorado.

New transparency requirements take effect

Under the court order, Greystar must now:

• Display total monthly leasing prices prominently when advertising partial pricing

• Clearly disclose all fees, their amounts, purposes, and whether they're mandatory before taking any payment

• Stop misrepresenting rental costs and property services

This means no more surprise fees appearing after you've already invested time in the application process.

How to protect yourself from rental fee tricks

While this settlement addresses one major player, many rental companies still use similar tactics. Here's how to avoid getting trapped:

1. Ask for the total monthly cost upfront, including all mandatory fees, before viewing any property

2. Request a written breakdown of every fee you'll pay monthly, annually, and at move-in

3. Don't pay application fees until you've seen the complete cost structure

4. Screenshot or save advertised prices in case you need to dispute charges later

5. Report deceptive rental advertising to the FTC at ReportFraud.ftc.gov

Red flags to watch for

Be especially wary when rental listings show prices that seem too good to be true for the area. Common hidden fees include:

• Amenity fees for pools, gyms, or common areas

• Utility administration fees

• Trash and recycling charges

• Pet fees beyond deposits

• Parking fees not mentioned in base rent

The bottom line: This $24 million settlement sends a clear message that rental companies can't bait-and-switch consumers with hidden fees. While Greystar now faces strict transparency requirements, you still need to be your own advocate when apartment hunting. Always demand complete pricing upfront, and don't hand over any money until you know exactly what you'll pay each month.