Rent Algorithm Limits: Landlords Raise Prices – NPR
News Context
At a glance
- Property management companies are facing settlements related to their use of RealPage, a revenue management software.
- * Greystar, the largest landlord in the US, has agreed to pay $50 million in a class action lawsuit and $7 million in a separate lawsuit brought...
Here’s a summary of the provided text:
RealPage and Rent Price Fixing Lawsuits:
Property management companies are facing settlements related to their use of RealPage, a revenue management software. The software is accused of facilitating collusion and artificially inflating rental prices, despite claims of promoting “procompetitive effects.”
Significant Settlements:
* Greystar, the largest landlord in the US, has agreed to pay $50 million in a class action lawsuit and $7 million in a separate lawsuit brought by nine states.
* Over two dozen property management companies have reached settlements so far.