An antitrust lawsuit has been filed by the Department of Justice and eight states’ attorney generals against RealPage, a rental software company. The lawsuit claims that RealPage utilized algorithms to artificially inflate rent prices across the country. RealPage’s software, YieldStar, is accused of collecting sensitive data from landlords and rental companies to manipulate prices and practices, ultimately reducing competition and increasing costs for renters.
Attorney General Merrick Garland expressed concern in a DOJ press release, stating that no American should be subjected to higher rent due to illegal collaborations between companies and landlords.
RealPage’s software is known to oversee more than 24 million rental units worldwide. The DOJ’s allegations suggest that the Texas-based company engaged in agreements with rival landlords to exchange confidential information regarding rental rates and lease terms. This information was then used to train YieldStar’s algorithms, which…
2024-08-23 11:04:27
Originally posted on www.engadget.com