RealPage Settles Federal Antitrust Lawsuit Over Alleged Rent-Pricing Collusion
RealPage Inc. settled a federal antitrust lawsuit, agreeing to stop using real-time data for rent price recommendations. The DOJ deal aims to prevent alleged landlord rent-pricing collusion.
GizmodoSettlement Reached That Limits Your Landlordâs Favorite Alleged Rent-Fixing Software
NPRNew limits for rent algorithm that prosecutors say let landlords drive up prices
Chicago Sun-TimesRealPage settles rent price-fixing lawsuit with Justice Department
The BlazeRealPage, accused of rental price fixing, settles suit with feds
Overview
RealPage Inc. reached a proposed settlement with federal prosecutors in an antitrust lawsuit, agreeing to new restrictions on its rent-setting software. This deal aims to prevent alleged rent-pricing collusion.
Under the settlement, RealPage is prohibited from using real-time and nonpublic lease data to make price recommendations, addressing concerns about landlords allegedly fixing rent prices.
The Department of Justice initiated this yearlong antitrust lawsuit during the Biden administration, following a 2022 ProPublica investigation linking RealPage's software to rising rental costs nationwide.
The settlement, which awaits approval by a North Carolina judge, involves no admission of wrongdoing or financial penalties for RealPage, unlike other property management firms like Greystar.
Ten states joined the DOJ's lawsuit, and some excluded states can continue their cases. California, New York, and other cities are also enacting laws to regulate rent-setting software.
Analysis
Center-leaning sources frame this story by emphasizing the negative impact of RealPage's software on renters and the perceived shortcomings of the settlement. They highlight accusations of "algorithmic collusion" and critics' views that the deal is "rife with loopholes," while presenting RealPage's defense as less convincing and immediately countered.