Scott+Scott is investigating a suspected price fixing cartel preying on residential renters. Some of the nation’s largest corporate landlords and property management firms have worked together to raise rents to sky high levels. At the center of the alleged price fixing scheme is RealPage Inc., a multinational company that provides real estate owners and managers with rent-setting software.
ProPublica reported in October that the nation’s largest landlords use RealPage’s pricing algorithm to set higher rents and share information with each other. In November, multiple members of Congress demanded the Department of Justice and the Federal Trade Commission investigate how RealPage was being used to rip off renters across the country.
In a healthy and fair market landlords and/or property management companies would have to compete on rent prices – keeping rent prices competitive and fair. RealPage’s algorithm removes this competition and enables landlords to coordinate unjustified rental unit prices increases. As a result, renters are forced to participate in an unfair rental market and overpay for their rental housing.
Scott+Scott is investigating these reports and working to bring litigation to compensate renters harmed by this scheme.
ARE YOU A RENTER? WOULD YOU LIKE TO PARTICIPATE IN THIS INVESTIGATION?
If you rented a residential unit within the last four years you may be eligible to participate in an antitrust claim against the lessors and the pricing software who manipulated rental housing pricings. To find out if you are eligible you are encouraged to fill out the form below and an attorney will reach out to you to discuss your legal rights; there is no cost.
- Congressional Letter to DOJ and FTC
- ProPublica: “Rent Going Up? One Company’s Algorithm Could Be Why”
- ProPublica: “Pressure Grows on Real Estate Tech Company Accused of Colluding With Landlords to Jack Up Apartment Rents”
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