DOJ settles with RealPage over its software’s alleged rent price fixing

The Department of Justice has announced a settlement with RealPage, the wide utilized rent-setting bundle that it accused of engaging successful collusion to thrust up rent prices by sharing antecedently backstage accusation from competing landlords. The colony puts limits connected RealPage’s quality to cod and usage that data, and blocks it from being utilized to acceptable rents.

Last year, the DOJ and respective different states filed an antitrust suit against RealPage, claiming that the company’s rent-setting bundle combines information from competing landlords to supply regular rental terms suggestions. “As competitor-landlords summation their rents, RealPage’s bundle nudges different competing landlords to summation their rents arsenic well,” the DOJ alleged.

If the tribunal approves the DOJ’s settlement, RealPage indispensable lone usage information from landlords that is 12 months oregon older to powerfulness its algorithm. The colony besides requires RealPage to “remove oregon redesign” features that discourage landlords from lowering prices oregon punctual landlords to lucifer their prices with competitors. RealPage would besides beryllium barred from offering “hyperlocalized pricing” information, which Assistant Attorney General Abigail Slater describes successful a video connected X arsenic hiking up rents “block-by-block.” RealPage denies immoderate wrongdoing.

“RealPage was replacing contention with coordination, and renters paid the price,” Slater said. “We reached a colony that stops RealPage from coordinating pricing with its customers.”