The Federal Trade Commission said Wednesday that it will send a total of $47.2 million in refunds to hundreds of thousands of consumers who the agency alleges were deceived by Invitation Homes, the largest single-family home leasing company in the U.S.

Invitation Homes agreed to issue the refunds as part of a settlement with the FTC, which sued the Dallas-based company in 2024. Regulators alleged in the suit that Invitation Homes deceived consumers about leasing costs, charged undisclosed junk fees, failed to inspect homes before residents moved in and withheld tenants’ security deposits after they moved out.

Invitation Homes did not immediately respond to a request for comment. As of December 2025, the publicly traded company owned or managed more than 110,000 properties across the U.S., according to a financial disclosure.

Who is eligible for a refund?

The FTC said it will mail payments to 444,131 consumers who paid Invitation Homes $45 or more in fees or charges between January 2021 and September 2024. 

The agency advised recipients to cash their checks within 90 days of receipt. Delivery dates will vary depending on where a person lives, an FTC spokesperson said.

Anyone with questions about refunds can contact Rust Consulting toll-free at 800-804-6915 or by email at info@InvitationHomesRefund.com.

How much will consumers get?

The FTC spokesperson told CBS News that refund amounts will be based on a number of factors, including the number of eligible recipients and how much they paid for covered fees and charges. Based on the settlement amount, eligible consumers will receive an average payment of $106.

Consumers who have already received a credit or refund from Invitation Homes are not eligible for a payment.

What was Invitation Homes accused of?

The FTC’s 2024 lawsuit alleged that Invitation Homes advertised home rental prices that failed to disclose the cost of mandatory junk fees, which the agency said could add up to $1,700 each year. 

Invitation Homes also collected more than $18 million in application fees for deceptively priced rental houses, according to regulators. These mandatory fees, which were allegedly presented to consumers as service, utility and internet charges, were “highly profitable for Invitation Homes,” the FTC said.

The agency also alleged that Invitation Homes engaged in other unlawful behavior, such as charging renters for normal wear-and-tear and damages that existed before they moved in.

As part of the settlement, Invitation Homes will be required to clearly disclose its leasing prices, handle security deposit refunds fairly and amend other practices, the FTC said.