The Department of Justice has filed a suit against RealPage for alleged price fixing and antitrust violations.
The Department of Justice (DOJ), along with several state Attorneys General, has filed a lawsuit against RealPage Inc., accusing the company of employing an unlawful scheme to reduce competition among landlords and monopolize the rental pricing software market. RealPage’s actions have allegedly harmed millions of American renters by raising rental prices.
The lawsuit contends that RealPage’s software uses algorithms that encourage landlords to share sensitive pricing information, which then influences rental rates. This practice effectively eliminates competition among landlords, leading to higher prices for renters. The DOJ argues that RealPage’s conduct violates the Sherman Act, which prohibits anticompetitive behavior.
The complaint highlights RealPage’s intention to maximize profits for landlords, citing internal documents that refer to the software’s ability to “drive every possible opportunity to increase price.” The DOJ also emphasizes RealPage’s market dominance in revenue management software, which further solidifies its ability to manipulate rental prices.
The lawsuit seeks to end RealPage’s alleged illegal practices and restore competition in the rental market for the benefit of renters nationwide. If successful, the DOJ’s action could have significant implications for the rental industry and potentially lead to more affordable housing options for millions of Americans.
