DOJ Sues RealPage Over Allegations of Enabling Rent Price-Fixing
The Allegations Against RealPage
The U.S. Department of Justice has moved against RealPage with a lawsuit that highlights serious allegations of antitrust violations. According to the complaint, RealPage's software allegedly played a pivotal role in enabling price-fixing schemes among landlords. This coordinated behavior significantly inflated rents, challenging the integrity of the rental market.
Details of the Lawsuit
- The DOJ claims that RealPage shared nonpublic information with competitors, facilitating collusion.
- Using algorithmic pricing software, RealPage reportedly made rent recommendations that sidelined competition.
- The lawsuit is supported by various state attorneys general, including those from California, Colorado, and Minnesota.
Impact on Renters
This lawsuit raises critical questions about the role of property management technology in inflating market prices. It emphasizes the need for transparency and fairness in the rental industry. If allegations are proven true, it could reshape the landscape of property management and significantly impact rental costs for millions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.