Lawsuits Target Landlords Using Algorithmic Pricing Systems to Set Rents
Several lawsuits allege that algorithmic pricing systems used by big landlords to set rents have artificially inflated prices. RealPage, a Texas-based company that sells rent-setting software, is facing legal action alongside its clients in multiple cities. The Washington, DC, attorney general recently sued RealPage and 14 major landlords for illegally colluding to set rents above competitive levels. The allegations include concerns of algorithmic collusion and strict control over rent enforcement. These lawsuits raise concerns about the impact of algorithmic pricing systems on markets beyond just the housing industry.