The Justice Department has filed an antitrust lawsuit against real estate software company RealPage, accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices. The lawsuit accuses the company of violating antitrust laws through its algorithm that landlords use to get recommended rental prices for apartments.
FILE - The Department of Justice seals is seen during a news conference at the DOJ office in Washington, May 16, 2023. Texas’ youth lockups remain beset by sexual abuse, excessive use of pepper spray and keeping children isolated in cells for most of the time, the DOJ said Thursday, Aug. 1, 2024, in a scathing report that accused the state of violating the constitutional rights of hundreds of youths inside the facilities.
The lawsuit, filed alongside attorneys general in states including North Carolina and California, alleges the company of violating antitrust laws through its algorithm that landlords use to get recommended rental prices for apartments. The algorithm allows landlords to align their prices and avoid competition that would keep rents down, Justice Department officials said. The complaint quotes one RealPage executive as saying “there is greater good in everybody succeeding versus essentially trying to compete against one another in a way that actually keeps the entire industry down.”
In a statement, Attorney General Merrick Garland said, “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.”What to watch on the Democratic National Convention’s fourth and final day in ChicagoIn a statement posted on its website in June, RealPage called claims against the company “false and misleading,” and argued its software actually “contributes to a healthier and more efficient rental housing ecosystem.
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