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The Latest Breaking News from RealPage

Robo price-fixing: Why the Justice Department is suing a software company to stop landlords colluding on rents

Of all the reasons it could be hard to pay rent each month, did you have an algorithm-powered illegal cartel on your list?

The Conversation

Harris plans to defeat housing crisis

Harris wants to defeat housing crisis with rent controls and incentives to build

Salon

Here’s how much landlords’ software is to blame for your high rents, according to one researcher

“About a quarter of rental inflation is potentially due to this price fixing conspiracy orchestrated by RealPage and some of the big corporate landlords,” Matt Stoller, the director of research at the American Economic Liberties Project, told Fortune.

Fortune

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Blackstone Hiked Rent Prices At Double The Market Rate in San Diego, Allegedly Uses RealPage's Rent Fixing Software: Report

Blackstone has aggressively expanded its real estate empire since 2021, owning 350,000 rental units while fighting rent control measures and allegedly using rent-fixing software that is being probed for financially impacting millions of renters.

International Business Times UK

Are You Living in San Diego's 'Worst ADU'?

Plus: The feds come for RealPage, a YIMBY caucus comes to Congress, and tiny Rhode Island enacts a big slate of housing reforms.

Reason

DOJ sues Texas company for raising rents

The suit alleges RealPage Inc.’s algorithm used private information to set higher rent prices

Salon

Is This Why Your Rent Is Skyrocketing? DOJ And 8 US States Sue RealPage For Alleged Price-Fixing Scheme

The DOJ is probing RealPage's collusion with landlords via its algorithm-based rental price-setting software to fix higher rents beyond market forces that impacted millions of renters.

International Business Times UK

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Landlords use a sneaky tactic to raise rents, US lawsuit says

The U.S. is suing a company it claims is contributing to skyrocketing rents across the nation.

The Street

Real estate software artificially raised rents, DOJ lawsuit alleges

The Department of Justice is suing RealPage for keeping rents artificially high for millions of renters.

The Street

US Alleges Software Scheme To Raise Rent Prices

US prosecutors unveiled sweeping antitrust charges Friday against a property management software company that they allege employs algorithms to enable collusion among landlords, harming renters across numerous US markets.

International Business Times

Justice Department Files Antitrust Lawsuit Against Realpage Inc.

Justice Department sues RealPage for alleged antitrust violation enabling rent price collusion among landlords.

Top News

Justice Department accuses RealPage of violating antitrust laws through scheme to hike rents

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 Independent UK

DOJ alleges RealPage helped landlords inflate rents - Roll Call

The Justice Department and eight states on Friday sued real estate company RealPage, alleging the company helped landlords collude on rents.

Roll Call

San Francisco City Council Targets Free Speech To Cover Up Its Own Housing Failures

Desperate to control soaring rents, the city council bans rental data tools while ignoring its own role in the housing crisis.

Reason

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Salon

San Francisco to ban landlord-AI gouging

The area is the first municipality in the U.S. to target AI platforms, which critics say scourge the housing market

Investors Business Daily

AppFolio, IBD Stock Of The Day, Climbs On Lower Interest Rate Outlook

AppFolio is the IBD Stock of the Day as real estate software firms rise amid expectations that interest rates could fall.

Reason

RealPage Conspiracy Theories

The media, state attorneys general, and the Biden administration are blaming rent-recommendation software for rising rents. Normal stories of supply and demand are the more reasonable explanation.

The Guardian - US

Corporations are forcing Americans to pay more for less – in their own words

Companies in the oil, hotel, meat and other sectors are price-gouging the US public. They’re not hiding it, either

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news in one place.

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Investors Business Daily

Real Estate Software Firm AppFolio Targeting Enterprise Market

AppFolio is the IBD Stock of the Day in the wake of its first analyst day under a new CEO. APPF stock has shot up 96% in 2023.

Kiplinger

What to Do When Your Rent is Too High

If your rent is too high, options for consumers are limited, but there are some things you can do if you're facing a rent increase.

Tribune News Service

D-FW builders are putting up an eye-popping number of new apartments

DALLAS — North Texas apartment construction surged to a new high in the early months of 2023.

Salon

Sens: Rent-setting algorithm "alarming"

RealPage's answers alarmed senators so much they sent a letter to the Justice Department

Tribune News Service

Senators urge DOJ to scrutinize landlords’ use of RealPage software to raise rents

Four U.S. senators are calling on the Justice Department to look closely at how Richardson-based RealPage’s software is used by big landlords.

The Street

These Cities Are the Most Affordable Places to Move

Until recently, people were attracted to the Sun Belt for its warm weather and lack of a state income tax in Texas and Florida.

The Street

Now Might Be a Good Time to Rent Rather Than Buy a Home

For most of the pandemic, renters suffered just as much as home buyers, with rents jumping along with with home prices.

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