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DOJ and States Sue Thoma Bravo's RealPage for Algorithmic Rent Collusion

Aug 26, 2024, 08:15 PM

The U.S. Department of Justice, along with eight states including California and Washington, has filed a federal antitrust lawsuit against RealPage Inc., a real estate software company owned by Thoma Bravo. The lawsuit, filed on August 23, accuses RealPage of enabling landlords to collude and drive up rental prices using the company's algorithmic software. This legal action follows a nearly two-year investigation into RealPage's practices, which allegedly involve sharing pricing information among landlords to decrease competition in apartment pricing. RealPage, based in Richardson, Texas, denies the allegations but has expressed willingness to work with the DOJ to resolve the lawsuit.