The Department of Justice on Tuesday sued six of the nation's largest landlords, accusing them of using a pricing algorithm to improperly work together to raise rents across the country.
While Americans across the country struggled to afford housing, the landlords named in today's lawsuit shared sensitive information about rental prices and used algorithms to coordinate to keep the price of rent high.
The lawsuit expands an antitrust complaint the department filed in August that accused property management software-maker RealPage of engaging in illegal price-fixing to reduce competition among landlords.
Officials conducted a two-year investigation into the scheme following a 2022 ProPublica story that showed how RealPage was helping landlords set rents across the country in a way that legal experts said could result in cartel-like behavior.
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