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Antitrust Lawsuit Rental Software
Attorney General Merrick Garland, center, speaks with reporters about an antitrust lawsuit against real estate software company RealPage during a news conference at the Department of Justice, Friday, Aug. 23, 2024, in Washington. At left is Deputy Attorney General Lisa Monaco and at right is Acting Associate Attorney General Benjamin Mizer. (AP Photo/Mark Schiefelbein)

Justice Department accuses RealPage of a scheme to help landlords hike rents in antitrust lawsuit

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

By ALANNA DURKIN RICHER and R.J. RICO
Published - Aug 23, 2024, 05:22 PM ET
Last Updated - Aug 23, 2024, 05:22 PM EDT

WASHINGTON (AP) — The Justice Department filed an antitrust lawsuit Friday against real estate software company RealPage Inc., accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices.

The lawsuit, filed alongside attorneys general in states including North Carolina and California, alleges the company is violating antitrust laws through its algorithm that landlords use to get recommended rental prices for millions of apartments across the country.

Rents across the U.S. saw a huge spike in 2021 and 2022, and though their growth has since tapered off, they remain stubbornly high for many tenants, thanks in part to a huge lack of housing supply.

Justice Department officials allege that RealPage is another reason for the high rents since the algorithm allows landlords to align their prices and avoid competition that would otherwise keep rents down.

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