The US Department of Justice (DOJ) has sued several large landlords and a property management software company, RealPage, over a rent pricing scheme that allegedly decreased competition among landlords. The lawsuit claims that RealPage’s algorithmic software is used to recommend rental prices, coordinate prices, and keep them high.
According to the Washington Post analysis, companies named in the lawsuit account for at least 12% of multifamily housing units nationwide. In some metropolitan areas, they control almost half of all rental units. The estimated costs to renters from anticompetitive pricing are $70 a month, with total costs reaching $3.8 billion in 2023.
Eight apartment complexes in the Salem-Keizer area use RealPage’s rent-setting software, including The Village in Keizer and Willamette Park in West Salem. The Justice Department seeks to end this practice and make housing more affordable for millions of Americans. RealPage has denied the allegations, stating that some companies have stopped using its software.
The lawsuit targets six major landlords and RealPage, which manages rental units across 43 states. The DOJ aims to stop the practice of prioritizing profits over people and making housing more affordable for millions nationwide.
Source: https://eu.statesmanjournal.com/story/news/local/2025/01/12/doj-lawsuit-landlords-rent-pricing-scheme-salem-keizer/77558669007