A major consumer refund effort is underway after federal regulators accused one of the nation’s largest rental housing companies of misleading tenants about fees and lease costs. The FTC refunds for Invitation Homes will return $47.2 million to hundreds of thousands of renters across the United States.

The payments stem from a settlement between the Federal Trade Commission and Invitation Homes, the country’s largest operator of single-family rental homes.

Settlement Ends Federal Lawsuit

The refund program follows a lawsuit filed by the FTC in 2024 accusing the Dallas-based company of deceptive practices related to its rental operations.

Regulators alleged that Invitation Homes misled renters about leasing costs, imposed undisclosed “junk fees,” failed to properly inspect homes before tenants moved in and unfairly withheld security deposits after residents moved out.

Under the settlement agreement, Invitation Homes will provide the refunds while also agreeing to change several business practices.

The company did not immediately respond to requests for comment following the announcement.

Hundreds of Thousands Eligible for Payments

According to the FTC, 444,131 consumers will receive refund checks as part of the settlement.

Eligibility applies to individuals who paid $45 or more in fees or charges to Invitation Homes between January 2021 and September 2024.

The agency said the checks will be mailed directly to qualifying consumers. Recipients are encouraged to cash their checks within 90 days after receiving them.

Delivery times will vary depending on where recipients live, an FTC spokesperson said.

Consumers with questions about the refund process can contact Rust Consulting, the firm managing the payments.

Average Payment Around $106

The size of each refund will depend on several factors, including how many people qualify and how much each renter paid in eligible fees.

Based on the total settlement amount, the FTC estimates that the average payment will be approximately $106 per consumer.

However, individuals who have already received a refund or credit from Invitation Homes related to the disputed charges will not be eligible for additional payments.

Allegations of Hidden Fees and Deceptive Charges

At the heart of the FTC’s lawsuit were claims that Invitation Homes advertised rental prices that failed to fully disclose mandatory fees.

According to regulators, these hidden charges could add up to as much as $1,700 per year for tenants.

The agency also alleged that the company collected more than $18 million in application fees tied to rental listings that were deceptively priced.

Some of those charges were presented as service, utility or internet fees, but regulators said the costs were highly profitable for the company.

Additional Accusations in the Case

Beyond hidden fees, the FTC accused Invitation Homes of several other practices that allegedly harmed renters.

According to the complaint, the company sometimes charged tenants for normal wear-and-tear or damage that existed before they moved into the property.

The lawsuit also alleged that the company failed to conduct adequate inspections before residents moved into homes, leaving tenants responsible for issues they did not cause.

Changes Required Under Settlement

In addition to issuing the FTC refunds for Invitation Homes, the settlement requires the company to make significant changes to its leasing practices.

Under the agreement, Invitation Homes must:

• Clearly disclose the full price of rental leases

• Handle security deposit refunds more fairly

• Adjust internal practices related to tenant fees and inspections

As of December 2025, Invitation Homes owned or managed more than 110,000 rental properties nationwide, according to company financial disclosures.

For many renters, the refund checks represent more than just compensation. They also signal a broader push by regulators to bring greater transparency to the rapidly expanding single-family rental market.