“In October 2022, ProPublica reported that landlords used Realpage’s cartel asset optimization algorithm Yieldstar to increase rents exponentially throughout the United States. Overwhelmingly, approximately 90% of property managers/landlords obey price increases suggestions by Yieldstar. Realpage’s policy strongly discourages negotiating rent prices with tenants, thus empathy with tenants are most sacrificed as a result.”
https://en.wikipedia.org/wiki/RealPage
It reminds me of a dental trade publication.
Interesting find, Brian. “RealPage’s policy strongly discourages negotiating rent prices with tenants, thus empathy with tenants are most sacrificed as a result.”
This would explain why move-in and new lease-renewals incentives have all but disappeared in the property rental business. Asset Management companies would prefer leaving properties unoccupied rather than negotiate price. It’s a matter of interest to me because I read about people on fixed incomes being forced to leave their dwellings due to increases in payments. The asset management companies also have an alliance with credit bureaus as they promise to help build credit profiles for a monthly price.
A can of worms.