The Rental Housing Journal is reporting that the Federal Trade Commission (FTC) is asking for authority to set rules and regulate fees in the rental housing market. According to the report, the FTC is planning a “significant regulatory action” and must undergo review before the FTC can issue it, according to the Office of Information and Regulatory Affairs within the Office of Management and Budget. In a prepared statement, FTC Chairman Andrew N. Ferguson said:
“To that end, we will be soliciting public comment on the need for a new rule to prevent the imposition of deceptive or unfair fees on renters seeking long-term housing options. Congress has empowered the FTC to promulgate rules that aid in enforcing our nation’s laws against unfair or deceptive trade practices and a new rule may enhance our capacity to bring enforcement actions against violators of those laws” Said FTC Chairman Andrew N. Ferguson.
Stay tuned…
Click here to read the full article at the Rental Housing Journal.
Click here to read the media release from the FTC.
