The Department of Justice (DOJ) is preparing an antitrust lawsuit against property management software RealPage Inc., according to POLITICO sources.
DOJ staff allege that RealPage's software enabled landlords to illegally share confidential pricing data and collude on rent setting.
This recommendation moves the longstanding investigation up to the DOJ's antitrust division’s leadership.
RealPage and its clients have been under investigation for the past two years, with criminal grand jury subpoenas issued earlier this year. Additionally, RealPage and many property owners and managers are already targets of a class-action lawsuit from renters.
RealPage counters that its clients have full pricing discretion, are not punished for ignoring software recommendations, and that all data is anonymized.
A civil case could be filed by the end of the summer, according to POLITICO, though the DOJ has declined to comment.
A DOJ lawsuit against RealPage could significantly impact the property management and PropTech industries, potentially reforming how tech solutions in the housing sector are regulated.
For now, we await further developments.
More housing policy headlines
New legislation targets algorithmic rental price setting – PayProp blog
First settlements in RealPage antitrust suit announced – Multifamily Dive
How renters are using TikTok, X to defraud landlords at luxury apartments – Bisnow
