US sues RealPage, claims rental-pricing algorithm used by landlords is illegal
Enlarge / US Attorney General Merrick Garland speaks during a news conference in Washington, DC, on Friday, August 23, 2024. (credit: Getty Images | Bloomberg)
The United States today sued RealPage, alleging that the software maker distorts competition in rental housing by helping landlords collectively set prices.
"To ensure they secure the greatest value for their needs, renters rely on robust and fierce competition between landlords. RealPage distorts that competition," said the lawsuit filed by the US government and eight state attorneys general. In a press release, the Justice Department said that "RealPage's pricing algorithm violates antitrust laws."
Attorney General Merrick Garland delivered remarks on the lawsuit. "When the Sherman Act was passed, an anticompetitive scheme might have looked like robber barons shaking hands at a secret meeting," he said. "Today, it looks like landlords using mathematical algorithms to align their rents. But antitrust law does not become obsolete simply because competitors find new ways to unlawfully act in concert."Read 12 remaining paragraphs | Comments
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings