Over the last year, tenants have brought lawsuits against a group of real estate developers and property management firms — including several in the Bay Area — alleging that they colluded to push up rents by sharing information using a pricing software made by Texas-based company RealPage.
Now, the Department of Justice is getting involved. On Friday, the Biden administration, alongside the attorneys general of California and seven other states, filed an antitrust lawsuit against RealPage, accusing the company of reducing competition among landlords and taking over the market for such algorithm-based rental software. It’s one of the first major antitrust suits to take aim at a company in the rental housing industry.
“Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law,” U.S. Attorney General Merrick Garland said in a statement.