Official housing market reports or statistical releases

DOJ Sues Cushman & Wakefield, Greystar, and Four Others for Alleged Rent Price-Fixing

Jan 7, 2025, 08:30 PM

The U.S. Department of Justice (DOJ), along with multiple states, has expanded its antitrust lawsuit against RealPage, a rental software company, to include six of the nation's largest landlords. The landlords, including Greystar Real Estate Partners, Blackstone’s LivCor, and Cushman & Wakefield, are accused of illegally raising rents on over one million people by using RealPage's algorithmic pricing tools. The lawsuit alleges that these landlords colluded to fix rental prices through the use of sensitive data and AI technology, artificially inflating rents nationwide and forcing tenants to pay more. In Denver, renters paid an average of $136 more every month due to landlords using these rent-setting algorithms, with nearly 50% of Denver landlords utilizing them. Colorado Attorney General Phil Weiser announced the addition of corporate landlords to the case. Senator Elizabeth Warren, who had previously investigated the matter and urged the DOJ to act, expressed support for the expanded lawsuit, which aims to hold landlords accountable for prioritizing profits over people.