US EditionRealPage Reaches Settlement with DOJ over Rent-Fixing Allegations
The DOJ's proposed settlement restricts RealPage's use of real-time data and limits algorithm features to prevent anticompetitive rent hikes nationwide, officials said.
- The Department of Justice proposed a settlement requiring RealPage to limit data for its rent-setting algorithm, barring real-time nonpublic data and leases under 12 months if court approval is granted.
- Last year, the Department of Justice and several states filed an antitrust lawsuit alleging RealPage combined competing landlords' data to generate daily rental price suggestions that nudged rivals to raise rents.
- The settlement would prohibit RealPage features suggesting hyperlocalized, block-level pricing and require removing tools that deter landlords from lowering rents or conducting sensitive market surveys.
- RealPage agreed to cooperate with the Justice Department Antitrust Division by accepting a court-appointed monitor, with Abigail Slater saying it delivers relief to consumers sooner than a trial.
- Last week Greystar Real Estate Partners agreed to pay $7 million and stop using pricing algorithms, but critics like Lee Hepner called it `This is lipstick on a pig and terrible for renters,' while a White House report estimated costs near $4 billion in 2023.
12 Articles
12 Articles
DOJ settles with RealPage over its software’s alleged rent price fixing
The Department of Justice has announced a settlement with RealPage, the widely used rent-setting software that it accused of engaging in collusion to drive up rent prices by sharing previously private information from competing landlords. The settlement puts limits on RealPage’s ability to collect and use that data, and blocks it from being used to set rents. Last year, the DOJ and several other states filed an antitrust lawsuit against RealPage…
Realpage agrees to limit data collecting to settle DOJ rental price fixing case
The U.S. Justice Department has reached a settlement with RealPage over allegations it helped landlords fix rents by sharing pricing information through its software, court papers showed on Monday.Under the settlement, Realpage agreed to a three-year monitorship and limits on how it collects and uses non-publ
Exclusive | DOJ settles case accusing real estate tech firm RealPage of enabling landlords to collude on sky-high rents
The Justice Department has settled its case against real estate tech firm RealPage, which faced bombshell allegations of building algorithms that allowed landlords to illegally collude to jack up rents for tenants, The Post has learned.
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