A Texan software company is alleged to have been at the center of a ‘rental cartel’ that enabled landlords across the US to artificially drive up prices.
Software sold by RealPage is used by many of the largest property management firms in the US and suggests prices landlords should charge based on availability and demand in their area.
But plaintiffs in several states have brought lawsuits against the firm, claiming landlords share private and commercially sensitive data with the platform which is then weaponized against renters to keep costs as high as possible.
In some markets, the majority of property managers in an area are said to use the software for pricing guidance and instruction.
Now legal pressures are mounting against RealPage which is run by Dana Jones, a University of Michigan graduate who labels herself a ‘growth minded CEO’ on LinkedIn.