U.S. landlords who use RealPage products to set prices on rental apartments are facing accusations of collusion.
  • A group of lawsuits accuse large landlords of price-fixing the market rate of rent in the United States
  • A complaint filed by Washington D.C.’s Attorney General alleges 14 landlords in the district are sharing competitively sensitive data through RealPage, a real estate software provider
  • RealPage recommends prices for roughly 4.5 million housing units in the United States
  • RealPage told CNBC that its landlord customers are under no obligation to take their price suggestions

A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes.

“We’ve been told as tenants by employees of Equity that the software takes empathy out of the equation. So they can charge whatever the software tells them to charge,” said Kevin Weller, a tenant at Portside Towers since 2021.

Tenants say the management started to increase prices substantially after giving renters concessions during the Covid-19 pandemic.

  • KevonLooney@lemm.ee
    2·
    11 months ago

    Probably not many people long term. When you buy a place to rent it out you need a steady stream of people who want it over the years. Single family homes with 3-4 bedrooms are good for young families.

    The problem with lots of these expensive apartment complexes in small towns that can’t support them is: people are not going to be perpetually locked out of houses. Either we will build more houses, build more apartments in better cities, or kids will live with their parents longer.

    One of my top priorities for kids I have is housing. College degree? Maybe a state school. But they will definitely need a place to live.