Greystar to Face FTC Lawsuit Over Misleading Rental Fees

Greystar is set to face a federal lawsuit as soon as this week over allegations the nationwide developer and manager of apartment buildings stuck renters with millions of dollars in hidden fees, according to people familiar with the probe.

The US Federal Trade Commission has prepared a suit accusing the company — the largest third-party apartment manager in the US — of falsely advertising rental prices by failing to inform potential renters of numerous mandatory fees, according to the people, who spoke anonymously to discuss a confidential investigation.

The fees, which range from tens to hundreds of dollars a month, ...