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The Justice Department and several state attorneys general filed an antitrust suit Friday against RealPage, alleging the real estate software company engaged in a complex collusion scheme with ...
The Justice Department filed an antitrust lawsuit Friday against real estate software company RealPage Inc., accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices.
The federal lawsuit filed in North Carolina alleges RealPage holds a monopoly in what is called "revenue management software" for landlords because the company controls 80% of the market nationwide.
RealPage is not the only company that offers an algorithmic tool to help property managers set prices. But the lawsuit says the company is by far the biggest in the industry, controlling 80% of the market. The use of data to help property managers set their rents isn’t new or, on its face, illegal. But officials argue that RealPage is different.
RealPage. RealPage, Inc. is an American property management software company, owned by the private equity firm Thoma Bravo, and known for its algorithmic rent setting, which is allegedly price fixing. Its services are used to manage more than 24 million housing units worldwide in multifamily, commercial, single-family, and vacation rentals.
Justice Department accuses real estate software company RealPage of scheme to inflate rental prices in antitrust lawsuit; New Dutch leader bans phones in Cabinet meetings to dial back espionage threat; Andrew Tate placed under house arrest as new human trafficking allegations emerge involving minors; Google agreed to pay millions for California ...
United States v. Google LLC is an ongoing federal antitrust case brought by the United States Department of Justice (DOJ) against Google LLC on October 20, 2020. The suit alleges that Google has violated the Sherman Antitrust Act of 1890 by illegally monopolizing the search engine and search advertising markets, most notably on Android devices, as well as with Apple and mobile carriers.
The U.S. Department of Justice on Friday sued a major real estate firm, alleging the company's algorithmic software enables landlords across the country to set rent at artificially high rates.