Pretium Statement Regarding Agreement with the Federal Trade Commission

Pretium Statement Regarding Agreement with the Federal Trade Commission

Pretium and Progress Residential have reached an agreement with the FTC and four states to resolve the Commission's Civil Investigative Demand related to certain aspects of our resident experience during the period of 2021 to 2025. The agreement contains no admission of wrongdoing, and we maintain that Progress' practices have been transparent, fair, and consistent with industry practice. Although we disagree with the FTC's claims, this resolution allows us to move forward with our continued improvements to the experience of our residents and the deployment of capital to expand the availability of quality, affordable rental housing for working families.

We welcome the FTC's efforts to establish uniform, industry-wide standards for the single-family rental industry related to fee disclosures and transparency. Pretium and Progress have led the way in adopting these standards.