DOJ sues software company accused of scheming millions of renters across the US

  • 📰 KUTV2News
  • ⏱ Reading Time:
  • 28 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 38%
  • Publisher: 63%

DOJ News

Realpage,Renters,Antitrust

A real estate software company is being sued by the Justice Department and multiple states for allegedly allowing landlords to hike up rental prices.

RealPage Inc.'s software enabled landlords to raise rents across the U.S.

The complaint alleges that RealPage violated antitrust laws through its algorithm that landlords use to get recommended rental prices for apartments. The complaint further alleges that in a free market, these landlords would otherwise be competing independently to attract renters based on pricing, discounts, concessions, lease terms, and other dimensions of apartment leasing.

Prosecutors are looking to "end RealPage’s illegal conduct and restore competition for the benefit of renters in states across the country."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 281. in US

United States United States Latest News, United States United States Headlines