Antitrust lawsuit accuses real estate company of helping landlords boost profits

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Rent-Fixing,Antitrust Lawsuit,Washington

The state of Washington just joined an antitrust lawsuit against RealPage, along with eight other Attorneys General and the federal government.

RealPage is a real estate software company that, according to its website, “delivers a single, streamlined system to save time and money headaches” for landlords. Their OneSite property management software allows “staff to access multiple products simultaneously and digital financial summary reports,” according to a company blog post.

“Competing landlords agreed to submit to RealPage on a daily basis, their most sensitive non-public information including rental rates, lease terms, and projected vacancies,” Garland said while announcing the lawsuit. “Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law.”The antitrust lawsuit claims that RealPage’s pricing algorithm enables landlords to use shared, confidential information to align rents.

 

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