In a free market, these landlords would otherwise be competing independently to attract renters based on pricing, discounts, concessions, lease terms and other dimensions of apartment leasing.
There are mechanisms within the software to encourage landlords to accept the prices recommended by its algorithm, which tends to maximize price increases, minimize price decreases, and maximize landlords' pricing power.
RealPage's software was built to be legally compliant, and the company has collaborated with the Justice Department on antitrust matters.
The lawsuit represents an effort to address fundamental economic and political issues driving inflation throughout our economy - and housing affordability in particular.
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