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Impact on rental prices in major US cities by end of 2025 due to DOJ lawsuit
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RealPage•Greystar Real Estate Partners•Camden Property Trust•Pinnacle Property Management Services•American•Cortland Management
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Story
DOJ Expands Antitrust Suit Against RealPage, Adds Six Landlords for Alleged Price Fixing on 1.3 Million Units
Jan 7, 2025, 07:40 PM
The U.S. Department of Justice has expanded its antitrust lawsuit against RealPage, a rental software company, by adding six major landlords to the case. The landlords, including Greystar Real Estate Partners, Blackstone's LivCor, Camden Property Trust, Cushman & Wakefield, Pinnacle Property Management Services, and Willow Bridge Property Co., are accused of using RealPage's software to collude and fix rental prices, affecting over 1.3 million rental units across the U.S. The DOJ alleges that these landlords participated in an unlawful scheme to decrease competition in apartment pricing, harming millions of American renters. Cortland Management has agreed to settle the claims. The lawsuit claims that the landlords used algorithms to set rents based on competitively sensitive information shared through RealPage's software. The case, which also involves multiple states as co-plaintiffs, is part of a broader effort by the DOJ to address anticompetitive practices in the housing rental market.
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