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RealPage Reaches Settlement with DOJ over Rent-Fixing Allegations
The DOJ's proposed settlement restricts RealPage's use of real-time data and limits algorithm features to prevent anticompetitive rent hikes nationwide, officials said.
- The Department of Justice proposed a settlement requiring RealPage to limit data for its rent-setting algorithm, barring real-time nonpublic data and leases under 12 months if court approval is granted.
- Last year, the Department of Justice and several states filed an antitrust lawsuit alleging RealPage combined competing landlords' data to generate daily rental price suggestions that nudged rivals to raise rents.
- The settlement would prohibit RealPage features suggesting hyperlocalized, block-level pricing and require removing tools that deter landlords from lowering rents or conducting sensitive market surveys.
- RealPage agreed to cooperate with the Justice Department Antitrust Division by accepting a court-appointed monitor, with Abigail Slater saying it delivers relief to consumers sooner than a trial.
- Last week Greystar Real Estate Partners agreed to pay $7 million and stop using pricing algorithms, but critics like Lee Hepner called it `This is lipstick on a pig and terrible for renters,' while a White House report estimated costs near $4 billion in 2023.
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Spokane amends 'algorithmic rent setting' proposal as feds settle with RealPage
(The Center Square) – After loosening the penalties, the Spokane City Council deferred a vote on Monday that could ban landlords from using “algorithmic rent setting” tools, delaying final action
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Coverage Details
Total News Sources25
Leaning Left2Leaning Right4Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
15%
C 54%
R 31%
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