FTC Signals New Path for Fee Transparency

By Ayiesha Beverly and Nicole Upano |

The Big Picture 

For now more than a year – and particularly over the past few weeks – actions made by the Federal Trade Commission (FTC) indicate the agency's willingness to regulate rental housing costs and fees and standardize their disclosure. These moves represent a growing area of concern for rental housing providers and one that the National Apartment Association (NAA) is monitoring closely and will continue to provide updates on. 

Two settlements the FTC made in September 2024 and, more recently in December 2025, could ultimately have significant implications on how rental cost and fee disclosures are regulated at the federal level and ultimately provide greater clarity in the direction of the Commission’s future plans. In his concurring statement following the 2025 settlement, FTC Chairman Andrew Ferguson noted that he had “directed Commission staff to begin the process of proposing a rule to address unfair or deceptive fees in rental housing.” 

Suggesting the agency prefers to regulate price transparency across the various business sectors that touch rental housing, the FTC also recently posted a blog to inform owners, property managers, property management software providers and advertisers of rental properties of their responsibilities to disclose total monthly leasing price to consumers. Finally, the regulator sent 13 letters to property management software companies “warning them they may be violating the law if they inhibit rental property managers and owners from conveying accurate pricing information when marketing rental housing to consumers.” 

What’s Next 

The FTC’s recent actions indicate a renewed interest in regulating rental housing costs and fees and standardizing their disclosure nationally while acting in close alignment with President Trump’s housing priorities. NAA will continue to provide analysis as we learn more. 

As always, NAA encourages industry members to consult qualified local counsel with any questions related to their fee transparency practices. 

In the meantime, NAA will continue its steadfast advocacy with Congress and the Trump Administration to voice the rental housing industry’s perspective and educate policymakers on the industry’s unique operational realities. 

Read more with NAA’s digest of state and local fee transparency policy efforts.