Justice Department Accuses RealPage of Antitrust Violations in Rent Hike Scheme
Friday, 23 August 2024, 15:58
Antitrust Allegations Against RealPage
The Justice Department has launched a lawsuit against RealPage, alleging that the company violated antitrust laws through a scheme designed to hike rents. The lawsuit focuses on the use of an algorithm that helped landlords determine optimal rental prices, effectively stifling competition that could lead to lower rents.
Impact on Housing Market
- Increased Hurdles: The allegations suggest that landlords may have been colluding to raise prices.
- Technology in Real Estate: Algorithms are increasingly influencing rental properties, raising concerns.
If these claims hold, there could be significant repercussions for the housing market and the way rental prices are set across the country.
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.