The Justice Department and eight states sued RealPage, alleging its rent-setting algorithm enables landlords to illegally coordinate price increases, threatening competition.
RealPage controls 80% of the market for commercial revenue management software, and the lawsuit targets its systems used for pricing in three million rental units.
This enforcement action reflects a trend of increased scrutiny by federal and local governments on large institutions' effects on the housing market amid rising rents.
RealPage responded, asserting that its software allows flexibility in pricing and does not compel landlords to follow its price recommendations, aiming to counter collusion claims.
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