{"id":120431,"date":"2024-08-23T17:15:37","date_gmt":"2024-08-23T17:15:37","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/08\/23\/us-sues-realpage-over-rent-setting-software-that-allegedly-drove-up-prices\/"},"modified":"2024-08-23T17:15:37","modified_gmt":"2024-08-23T17:15:37","slug":"us-sues-realpage-over-rent-setting-software-that-allegedly-drove-up-prices","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/08\/23\/us-sues-realpage-over-rent-setting-software-that-allegedly-drove-up-prices\/","title":{"rendered":"US sues RealPage over rent-setting software that allegedly drove up prices"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">The Justice Department is <a href=\"https:\/\/www.justice.gov\/opa\/pr\/justice-department-sues-realpage-algorithmic-pricing-scheme-harms-millions-american-renters\" target=\"_blank\" rel=\"noopener\">suing the company<\/a> behind a widely used software that helps landlords set rental prices. It alleges that RealPage\u2019s rent recommendation algorithm drives up prices and \u201cdeprives renters of the benefits of competition on apartment leasing terms.\u201d<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">In <a href=\"https:\/\/www.justice.gov\/opa\/media\/1364976\/dl?inline\" target=\"_blank\" rel=\"noopener\">the complaint<\/a>, the DOJ, along with eight states, claim that RealPage obtains nonpublic rental price information from competing landlords who use the software. RealPage then allegedly feeds this information into its algorithmic pricing software, which landlords can use to get suggestions about their rent rates.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">As alleged in the lawsuit, \u201cthese are more than just \u2018recommendations,\u2019\u201d as RealPage also \u201creviews and weighs in on landlords\u2019 other policies,\u201d in which it attempts to end concessions and discounts for renters. Landlords can also \u201ceffectively agree to outsource their pricing function\u201d to RealPage with an \u201cauto accept\u201d option that automatically adjusts their rents based on its algorithm.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">\u201cIn a competitive marketplace, each landlord may independently decide to offer concessions so that it can better compete in enticing lessors,\u201d the complaint alleges. \u201cBut, again, RealPage seeks to replace fully independent, competitive decision-making with collective action by ending concessions.\u201d <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Additionally, the DOJ claims RealPage maintains a monopoly in commercial revenue management software for multi-family dwellings, making up around 80 percent of market share. RealPage\u2019s \u201cunlawful agreements\u201d with landlords and the sensitive data it receives from them give the company a competitive advantage, the lawsuit alleges. <em>The Verge<\/em> reached out to RealPage with a request for comment but didn\u2019t immediately hear back.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/2024\/8\/23\/24226885\/doj-realpage-antitrust-lawsuit-rent-fixing-software\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Justice Department is suing the company behind a widely used software that helps landlords set rental prices. It alleges that RealPage\u2019s rent recommendation algorithm drives up prices and \u201cdeprives renters of the benefits of competition on apartment leasing terms.\u201d In the complaint, the DOJ, along with eight states, claim that RealPage obtains nonpublic rental [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":120432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-120431","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/120431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=120431"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/120431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/120432"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=120431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=120431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=120431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}