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.