"Strong, accurate residential rent data is becoming a prized asset as lawsuits, regulators and new state laws upend how landlords set rents. Los Angeles-based commercial real estate platform Crexi is moving to capitalize on that demand. The company has partnered with Dwellsy, a rental marketplace with extensive residential properties, to plug rent data into Crexi Intelligence."
"The lawsuits arose as housing affordability concerns grew. Former President Joe Biden's Justice Department sued RealPage in 2024 over the practice. The two sides reached a settlement agreement late last year. California, Connecticut and New York lawmakers, seeking to address housing affordability, passed laws last year to ban or limit algorithmic rent-setting tools."
"Not using algorithms is a point of differentiation for San Francisco-based Dwellsy, a 2019 startup. Just accurate raw data, Jonas Bordo, Dwellsy's CEO and founder, told The Builder's Daily. Dwellsy is a free marketplace for landlords and property managers. The company's revenue model is selling the property and market-level insights it has for more than 620,000 rental properties."
Accurate residential rent data has become increasingly valuable as lawsuits, regulators, and new state laws challenge algorithmic rent-setting practices. Crexi, a Los Angeles-based commercial real estate platform, partnered with Dwellsy, a rental marketplace, to integrate residential rent data into Crexi Intelligence. This move escalates Crexi's ongoing legal battle with CoStar Group, the commercial real estate data market leader, which has sued Crexi over alleged property image theft. The partnership reflects broader industry shifts following lawsuits against RealPage and Yardi Systems for price-fixing through algorithmic tools. Dwellsy differentiates itself by providing accurate raw data without algorithms. California, Connecticut, and New York have passed laws restricting algorithmic rent-setting, with other states considering similar legislation. Dwellsy operates as a free marketplace for landlords and property managers, generating revenue through property and market-level insights for over 620,000 rental properties.
#rental-data #algorithmic-rent-setting #real-estate-technology #housing-affordability #regulatory-compliance
Read at www.housingwire.com
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