The national movement has origins in Seattle, starting with a class action lawsuit on behalf of Seattle renters.
Washington Attorney General Bob Ferguson now joins eight other attorneys general around the country accusing RealPage and landlords of unlawfully fixing prices in the home rental market. Seattle rents have been on the rise.Since 2017, it is believed 800,000 leases were signed using this software. Ferguson's office explains the company is facilitating sharing competitively sensitive, nonpublic data through its software with competing landlords to help them raise rents to maximize profits.
"In addition to the use of software, the lawsuit lays out how those involved in this practice also created "user group" meetings between competing landlords, where competitive information is shared and discussions on pricing are encouraged--even involving recommendations to increase prices despite the number of empty units.
Bob Ferguson News Consumer Real Estate
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