U.S. Justice Department Sues Six Landlords Over Alleged Rent Price Collusion Using Algorithms

The U.S. Justice Department is suing six major landlords for allegedly collaborating to keep rents high. The lawsuit accuses the landlords of using RealPage's rent-setting algorithm and sharing sensitive data to avoid lowering rents. Prosecutors claim these practices have contributed to rising rental costs, with over half of U.S. renters spending more than 30% of their income on rent in 2022. Greystar and RealPage deny the allegations, emphasizing their integrity and limited algorithm use. The settlement would limit the company's use of competitors' data and algorithms to set rents.