Free Republic

Landlords could no longer rely on rent-pricing software to quietly track each other’s moves and push rents higher using confidential data, under a settlement between RealPage Inc. and federal prosecutors to end what critics said was illegal “algorithmic collusion.”The deal announced Monday by the Department of Justice follows a yearlong federal antitrust lawsuit, launched during the Biden administration, against the Texas-based software company. RealPage would not have to pay any damages or admit any wrongdoing. The settlement must still be approved by a judge.RealPage software provides daily recommendations to help landlords and their employees nationwide price their available apartments. The...

Proptech company RealPage won’t be able to turn the page on its software controversy anytime soon. A class-action lawsuit filed by a University of Washington student accused RealPage of colluding with student housing providers to inflate rent, Multifamily Dive reported. The lawsuit, filed last month, names a number of prominent multifamily landlords, including Greystar and Cushman & Wakefield. The plaintiff alleges collusion in popular college towns, such as Ann Arbor and Gainesville. The lawsuit claimed operators had the ability to collaborate and track competitors’ rents through the RealPage platform.