Hochul signs bill banning NY landlords from using algorithm software to set rents

New York bans AI-enabled rent price fixing

On Thursday, New York Gov. Kathy Hochul signed into law legislation banning the use of price-fixing software by landlords to set rental rates. New York is the first state to outlaw algorithmic pricing by landlords, following a number of city-wide bans in Jersey City, Philadelphia, San Francisco, and Seattle.  Software companies such as RealPage offer landlords algorithms that can set rental prices. The software can also help determine the ideal …

Hochul signs bill banning NY landlords from using algorithm software to set rents

The Council of Economic Advisors estimated that price-fixing algorithms cost renters nationwide $3.8 billion more in inflated rents in 2023.

Governor Signs Bill Banning NY Landlords From Setting Rents via Algorithms

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New York Bans AI-Enabled Rent Price Fixing

New York Gov. Kathy Hochul has signed into law legislation banning the use of price-fixing software by landlords to set rental rates. From a report: New York is the first state to outlaw algorithmic pricing by landlords, following a number of city-wide bans in Jersey City, Philadelphia, San Francisco, and Seattle. Software companies such as RealPage offer landlords algorithms that can set rental prices. The software can also help determine the …

New York becomes first state to ban AI-enabled rent price fixing

New York Governor Kathy Hochul has signed legislation prohibiting landlords from using price-fixing software to establish rental rates. The law, a first for any U.S. state, is designed to counter algorithmic pricing amid a statewide housing crisis. The ban follows similar municipal-level ordinances in cities including Jersey City, Philadelphia, San Francisco, and Seattle. Software from companies like RealPage provides landlords with algorithms t…

NY bans algorithmic rent pricing

New York has enacted a bill prohibiting residential landlords from sharing algorithms to set prices, marking the most significant legislative effort yet to curb the use of RealPage.