US EditionGreystar and other landlords agree to a $141M deal to settle a rent-setting lawsuit
Greystar's $50 million settlement is the largest among 27 landlords accused of using RealPage's software to inflate rents in a $141 million multidistrict antitrust case.
- On Wednesday, Greystar, the largest operator of rental housing in the United States, agreed to pay $50 million in a Nashville federal court filing to resolve claims tied to RealPage Inc., part of a $141 million settlement across 27 defendants.
- Recent years, renters sued alleging inflated rents linked to RealPage's AI Revenue Management software, plaintiffs and prosecutors say.
- Settlement filings require limits on nonpublic lease data and monetary compensation as participating landlords must restrict data shared with RealPage and prosecutors received more than 24 terabytes of data and 14,778,268 documents.
- The court must still grant final approval to the settlements, and RealPage plus roughly 20 other landlords would remain to contest the allegations in the Nashville litigation.
- The U.S. Department of Justice and state attorneys general have stepped up scrutiny of such technology, while at least nine municipalities passed rules and more than a dozen states considered legislation.
29 Articles
29 Articles
America's landlords settle claim they used rent-setting algorithms to gouge consumers nationwide for $141 million
Real estate giant Greystar and 25 other property management companies have agreed to collectively pay more than $141 million to settle a class action lawsuit accusing landlords of driving up housing costs by using rent-setting algorithms offered by the software company RealPage. Greystar, the nation’s largest landlord, would pay $50 million under the proposed settlement agreement, which was filed Wednesday in a Tennessee federal court. The deal …
27 Firms Strike Deal In Rent-Fixing Class Action, RealPage And Others Fight On
Twenty-seven landlords and property managers have reached a deal to settle their part of a class-action lawsuit that alleges RealPage helped multifamily operators collude to inflate rents. The preliminary deal, which still needs a judge’s approval, would involve some of the country’s largest landlords paying a combined $141M to resolve allegations that RealPage’s AI Revenue Management software helped them cooperate to set rents. None of the land…
Greystar Settles for $50 Million as RealPage Rental Pricing Litigation Expands
Greystar, the largest operator of rental housing in the United States, has agreed to a $50 million settlement to resolve claims that it conspired with other landlords through RealPage Inc.’s rent-pricing software to artificially inflate rental prices. The settlement, filed in federal court in Nashville, is part of a broader set of agreements totaling $141 million across 27 defendants. The case, In re: RealPage Inc. Rental Software Antitrust Liti…
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