The DOJ is reportedly investigating rent-setting software company RealPage

guest · Nov 27, 2022

By Emma Roth - November 26, 2022

The Department of Justice’s Antitrust Division has reportedly opened up an investigation into RealPage, the real estate technology company accused of contributing to higher-than-normal rent prices. According to a report from ProPublica, the DOJ is looking into whether the company’s rent-setting software allows landlords to coordinate and raise rent across the nation.
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This comes after last month’s report from ProPublica, which revealed that RealPage’s YieldStar software uses an algorithm to “help landlords push the highest possible rents on tenants.” As noted by ProPublica, YieldStar’s algorithm uses the non-public rental rates gathered from the landlords and property managers that are its clients.

ProPublica’s report states that the algorithm’s design has “raised questions among real estate and legal experts about whether RealPage has birthed a new kind of cartel that allows the nation’s largest landlords to indirectly coordinate pricing, potentially in violation of federal law.”
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RealPage managed over 22 million rental units as of this year, and some of the nation’s biggest property managers, including GreyStar Real Estate Partners, Camden Property Trust, and Mid-America Apartments, all use the service. The company was acquired by private equity firm Thoma Bravo last year.
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Rasheed187 · Dec 3, 2022

You have to be kidding me, so now they are blaming software for high rent prices? I have a solution, it's called rent control and it should be implemented by the government, problem solved. Seriously, the world has gone insanse.

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The DOJ is reportedly investigating rent-setting software company RealPage

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The DOJ is reportedly investigating rent-setting software company RealPage

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