FBI Raids Cortland Management Over Nationwide Rent-Fixing Conspiracy

Jun 3, 2024, 01:53 PM

The FBI has conducted a raid on Cortland Management, one of the largest landlords in the United States, over allegations of rent-fixing. The investigation is part of a broader crackdown by the Department of Justice on rental housing cartels accused of inflating rental prices through algorithmic price-fixing tools. In Atlanta, where Cortland is based, rents have increased by 56% since 2016, coinciding with the adoption of these tools. The conspiracy is said to involve coordination with software firm RealPage to manipulate rental prices and maintain vacancies. The FBI raided Cortland as part of a nationwide conspiracy to increase prices on renters.