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RealPage Faces Lawsuits Over Alleged 10-20% Rent Price Inflation by Algorithm

Jun 20, 2024, 01:31 AM

RealPage, a company known for its apartment pricing algorithm, is facing multiple lawsuits alleging that its software is artificially inflating rental prices across the United States. The software collects data on renters, vacancy rates, and showings, which it then uses to set rental prices. Critics argue that landlords using the same algorithm are colluding to push rents higher, leading to annual increases of 10-20%. This has raised concerns about the role of such software in the housing market and its impact on renters. The allegations have been reported by Maureen Tkacik in American Prospect.