RealPage settles rent price-fixing lawsuit with Justice Department

RealPage, a leading provider of rent-pricing software for landlords, has agreed to settle a federal antitrust lawsuit with the Justice Department over allegations that it engaged in "algorithmic collusion" to artificially inflate rents nationwide.

The company's software, which is used by thousands of landlords and property management companies, collects confidential data on rent prices and uses this information to make daily recommendations on pricing available apartments. Critics argue that this practice helps landlords charge higher rents by suppressing competition and reducing vacancies.

Under the terms of the settlement, RealPage will no longer use real-time data to determine price recommendations, but instead will only be allowed to train its algorithm with data that is at least a year old. This change aims to increase transparency and prevent the company from manipulating rent prices through secret algorithms.

The deal marks another victory for regulators seeking to crack down on the use of rent-setting software. Several major property management companies have reached similar settlements in recent months, including Greystar, which agreed to pay $50 million to settle a class action lawsuit.

However, critics say that while the settlement is a step in the right direction, it may not go far enough. The governors of California and New York have signed laws aimed at regulating rent-setting software, and several cities have passed ordinances prohibiting its use.

The Justice Department's antitrust chief, Gail Slater, praised the settlement as a way to promote competition in local housing markets. "What does this mean for you and your family?" she asked. "It means more real competition in local housing markets. It means rents set by the market, not by a secret algorithm."

For RealPage, the company has expressed relief that it was able to settle the matter without admitting any wrongdoing or paying damages. Its attorney, Stephen Weissman, said that the software's historical use of aggregated and anonymized data had led to lower rents, less vacancies, and more pro-competitive effects. However, this argument is unlikely to sway critics who see the company's practice as a clear example of price-fixing.

I'm low-key impressed that RealPage is settling for a change in their algorithmic practices. The data says 72% of landlords use rent-pricing software, and this settlement could be a major win for regulators . According to the FTC, antitrust enforcement has generated over $3 billion in recoveries for consumers since 2010 - that's some serious cash ! But, I get why critics are still skeptical - only using data from at least a year old might not go far enough . The chart below shows how rent prices have increased nationwide since 2020 :

Rent Price Growth (2020-2025)

* 3.4%
* 1.7%
* 2.1%

It's all about the data, folks!

I'm kinda relieved they're settling this but it feels like a big slap on the wrist for RealPage I mean, what's next? Are we gonna regulate all the other tech companies that use data to influence prices? It's not like it's just landlords who are supposed to be competing with each other... the whole thing just seems kinda messy. And yeah, the fact that they got off without admitting any wrongdoing is pretty weird I guess we'll just have to wait and see how this all plays out in the end

I'm low-key relieved that RealPage is settling this antitrust lawsuit ... I mean, think about it, they were basically colluding with other landlords to jack up rents and screw over tenants. It's not like it was just some harmless algorithm trying to optimize pricing . But at the same time, I'm all for transparency in rent-setting software - it's a big deal for anyone trying to navigate the housing market. The fact that they're capping real-time data collection is a good start, but I'd love to see more robust regulation on this front ... and let's be real, $50 million settlement from Greystar doesn't exactly fill me with confidence . Still, it's better than nothing !

I'm tellin' ya, back in my day we didn't have all these tech companies like RealPage, just thinkin' about fixin' prices and whatnot... now it's like they're colludin' behind the scenes to drive up rents . I mean, I get that landlords wanna make a buck, but do they really need to screw with their competition like that? It's not right, if you ask me.

Now, I'm all for some transparency and fairness in the market, but this settlement just seems like a band-aid on a bigger problem . I'd love to see more action taken by governments and regulators to really crack down on these kinds of practices. We need to make sure that rents are set by the market, not some fancy algorithm .

It's funny, though - back in my day we didn't have all these 'settlements' like this... we just kinda figured it out as we went along . But I guess that's progress, right?

Just heard about RealPage settling with the Justice Dept over their rent-pricing software... gotta say, I'm all for more transparency in the housing market . I mean, who wants to pay top dollar for an apartment if they don't have to? The fact that they're limiting their use of real-time data is a good first step, but I'd love to see even more regulation on this stuff . It's all about promoting competition and keeping things fair, you know?

RealPage gets off scot-free... again! I mean, I'm glad they're not paying out $50 million like Greystar did . But what about all those landlords and property management companies that rely on their software? It's gonna be a wild ride trying to figure out how to use it now that RealPage can't mess with our rent prices . I'm still not convinced this is enough... we need stricter regulations, like those new laws in California and New York . It's time to shine some light on what these companies are really up to .

I'm still trying to wrap my head around this one . RealPage settling this antitrust lawsuit is like a Band-Aid on a bullet wound, you know? It's just a stopgap measure until we get real regulations in place. I mean, they're only changing the algorithm now because of pressure from regulators and critics. What if nobody cared about the impact of rent-setting software on people's lives? It's like, yeah, more transparency is good, but what about those who can't afford to move because prices are artificially inflated? I'm all for a fair market, but this feels like just a corporate PR stunt .

omg this is crazy like realpage was basically manipulating rent prices using secret algorithms without anyone knowing how can that be allowed? it sounds super sus and anti-competitive to me i mean, the fact that they were collecting all that confidential data on rent prices and using it to set prices for apartments is just shady

and now they're settling with the justice department without admitting anything wrong... that's kinda weird doesn't that go against the spirit of accountability? i don't think this settlement goes far enough either, imo. more needs to be done to regulate these types of software and prevent them from screwing over landlords and renters alike

I can imagine how frustrating it must be for people struggling with rent prices . I think its really good that RealPage has agreed to make some changes to their software, like only using data that's at least a year old . That way, they're not trying to manipulate prices anymore, and maybe even helping out with more affordable options for renters . I feel for those who have been affected by this practice, its not fair that they got taken advantage of . This settlement is definitely a step in the right direction

Umm... so RealPage just settled with the Justice Department over their algorithmic collusion thingy... I mean, I guess it's good that they're being forced to change their approach, but isn't this kinda like putting a Band-Aid on a much bigger issue? Like, they can still use old data and make recommendations based on it... how does that even help with transparency? And I'm not sure I buy the whole "lower rents" thing... if it's already working that way, then why did RealPage need to settle in the first place? It just feels like they dodged a bullet and got off scot-free...

im so glad this settlement happened, it makes total sense that landlords cant collude with each other on rent prices like that . i mean, its not fair to all the renters out there who are already struggling to afford housing. this change will definitely help increase transparency and keep rents from getting too out of hand . and good for gail slater at the justice department for speaking up about competition in local housing markets . we need more regulators like her fighting for renters rights

RealPage thinks it can just manipulate rent prices without getting caught? Algorithmic collusion is not cool . Settling now, but I still think they should've gone down harder . At least California and NY are taking action . Time to make landlords play by the rules .

I don’t usually comment but... I think it’s pretty suspicious that RealPage was able to settle without admitting any wrongdoing . Like, what did they really do wrong? It sounds like they got caught doing something that might have been considered standard practice by the property management companies using their software . And the fact that they got a slap on the wrist for it is kinda weird... I mean, wouldn’t you expect them to pay up if they were actually breaking antitrust laws ? It feels like the Justice Department was trying to send a message rather than punish RealPage harshly .

its kinda cool that RealPage agreed to change its algorithm lol . i get where they're coming from with the idea of using old data and all, but its still weird that it wasnt addressed sooner... like what about the landlords who are already struggling? didnt they deserve some protection too? anyway, glad theres more regulation on this stuff now. hope it brings down those sky-high rents in NYC and SF soon

I mean, think about it... if RealPage's algorithm was actually helping landlords set higher rents that's not in line with market demand, wouldn't that be good for everyone? Landlords wouldn't be charging exorbitant prices just to screw over tenants, and tenants would have more choices on the market. Plus, the data is already a year old by the time it gets used, so what's really changing here? Just a way to prevent some big corporations from manipulating the system for their own gain...

So I think the whole thing with RealPage kinda makes sense . Like if they're using data from thousands of landlords to figure out what prices are gonna be for apartments, that's some serious market power right there . And when you got a monopoly on something like that, it's only natural that people start to complain about it.

The part that really gets me is how much money is being spent on settlements and laws and all that . Like $50 million from Greystar? That's some serious cash . But at the end of the day, isn't that what we're trying to prevent - price-fixing and collusive behavior?

I don't think it's a bad thing that California and New York are passing laws regulating this stuff . Maybe RealPage was pushing the boundaries too far? But simultaneously, I feel like we need some more oversight on these tech companies. They're making moves in every industry now - rent-pricing software is just the tip of the iceberg .

It's all about finding that balance between innovation and regulation, right? Too little oversight and we get exploited by big corporations , but too much and we stifle growth .

Ugh I feel so much for these landlords and renters . It's like they're trapped in this never-ending cycle of rent increases and less options. I get that RealPage wanted to make money, but at what cost? The fact that they were manipulating prices behind the scenes is just infuriating. And the worst part is, it's not just one company - there are others out there doing similar things too.

It's amazing that the Justice Department stepped in and took action . I love that Gail Slater said " rents set by the market, not by a secret algorithm". Like, exactly! We need more transparency and less room for exploitation . And yeah, it might not be perfect, but it's a start. Let's hope these regulations stick around and actually make a difference

omg like what a huge win for consumers lol i'm so glad regulators are cracking down on these rent-setting software companies realpage settling with the DOJ is a big deal, it's about time someone held them accountable for their practices and yeah, critics might think its not enough but hey at least they're trying to promote transparency and competition in local housing markets so let's keep pushing for more reform and lower rents for everyone

I think the Justice Department made the right call here . It's no secret that rent prices have been skyrocketing nationwide, and RealPage's algorithmic collusion was definitely contributing to that problem . By limiting its access to real-time data, they're forcing the company to be more transparent about their pricing practices and not manipulating them behind closed doors.

It's also a big win for regulators who are trying to hold these big companies accountable for their actions . The fact that several major property management companies have already reached similar settlements shows that this is a trend that's here to stay .

But I do think the governors of California and New York should be commended for taking proactive steps to regulate rent-setting software themselves . It's clear that we need more comprehensive solutions to address this issue, not just individual company settlements .