Justice Department sues RealPage over algorithm accused of enabling rent price-fixing
By
By —
Toasted just enough. A reliable bake, gently seasoned.
Summary
The Justice Department has filed an antitrust lawsuit against real estate software company RealPage Inc., accusing it of facilitating an illegal scheme that allows landlords to coordinate and hike rental prices through its algorithmic pricing software. The lawsuit, filed alongside state attorneys general, alleges the company's algorithm violates antitrust laws by enabling price-fixing among landlords.
Key quotes
· 2 pulledThe Justice Department filed an antitrust lawsuit Friday against real estate software company RealPage Inc., accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices.
The lawsuit accuses the company of violating antitrust laws through its algorithm that landlords use to get recommended rental prices for apartments.
You might also wanna read
Justice Department Settlement Requires RealPage to End Anticompetitive Information Sharing in Rental Markets
The U.S. Justice Department's Antitrust Division has filed a proposed settlement against RealPage Inc. to address anticompetitive practices
justice.gov·6mo ago
Justice Department Settles with Greystar Over Algorithmic Pricing Scheme in Rental Markets
The Justice Department has reached a proposed settlement with Greystar, the largest U.S. landlord, to end its involvement in an algorithmic
justice.gov·9mo ago
New York Bans AI-Powered Rent Price-Fixing Software
New York has become the first state to ban the use of AI-powered price-fixing software by landlords, with Governor Kathy Hochul signing legi
The Verge·7mo ago