The lawsuit claims RealPage has unlawfully limited competition among landlords through its revenue management software... It substitutes unity for rivalry. It subverts competition and the competitive process.
A 2023 analysis of the impact of algorithmic pricing on the US multifamily rental market found that software-based rental pricing coordination results in an average markup increase of $25 per unit per month, impacting about 4.2 million units nationwide.
Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law, said US Attorney General Merrick Garland.
The Justice Department and the Federal Trade Commission began probing RealPage two years ago at the behest of concerned lawmakers. The inquiry followed a private lawsuit against the company that alleged RealPage functioned as a cartel to drive up rent prices.
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