Page 2 - AHATA

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Aruba’s ONLY English newspaper
A
Justice Department accuses RealPage of a scheme to help landlords
hike rents in antitrust lawsuit
By A.D.RICHER and R.J. RICO
Associated Press
WASHINGTON (AP) — 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 law-
suit, filed alongside attorneys
general in states including
North Carolina and California,
alleges the company is violat-
ing antitrust laws through its
algorithm that landlords use
to get recommended rental
prices for millions of apart-
ments across the country.
Rents across the U.S. saw a
huge spike in 2021 and 2022,
and though their growth
has since tapered off, they
remain stubbornly high for
many tenants, thanks in part
to a huge lack of housing
supply. Justice Department
officials allege that RealPage
is another reason for the high
rents since the algorithm al-
lows landlords to align their
prices and avoid competition
that would otherwise keep
rents down. Attorney General Merrick Garland, center, speaks with reporters about an antitrust lawsuit against real estate software company
RealPage during a news conference at the Department of Justice, Friday, Aug. 23, 2024, in Washington. At left is Deputy Attorney
Continued on Page 2 General Lisa Monaco and at right is Acting Associate Attorney General Benjamin Mizer.
Associated Press