DOJ Sues Thoma Bravo's RealPage for Algorithmic Rent Collusion

Aug 26, 2024, 10:09 AM

The U.S. Department of Justice (DOJ), along with eight state attorneys general, has filed a federal antitrust lawsuit against RealPage Inc., a real estate software company based in Richardson, Texas, owned by Thoma Bravo. The lawsuit accuses RealPage of enabling landlords to collude and artificially inflate rental prices across the United States through the use of algorithmic pricing tools. This legal action follows a nearly two-year investigation into the company's practices. The DOJ claims that RealPage's software facilitated illegal information-sharing among landlords, thereby reducing competition in the rental market. The lawsuit is part of a broader effort by the DOJ to scrutinize industries using similar information-sharing systems. Deputy Attorney General Lisa Monaco emphasized that using technology to break the law remains illegal. Kamala Harris has expressed interest in banning such algorithms.