The Justice Department has filed an antitrust lawsuit against RealPage Inc., a real estate software company, alleging an illegal scheme that allows landlords to coordinate to raise rental prices. The lawsuit, filed in conjunction with several state attorneys general, claims that RealPage’s algorithm allows landlords to align their prices and avoid competition, ultimately keeping rents high. RealPage has been accused of violating antitrust laws by promoting price-fixing through its algorithmic pricing software. Despite RealPage’s denial of the claims, the Justice Department and state attorneys general argue that this scheme harms consumers by increasing rental prices. Attorney General Merrick Garland stated that Americans should not have to pay more in rent due to companies breaking the law to benefit landlords. This lawsuit highlights the Biden administration’s commitment to aggressive antitrust enforcement, following previous lawsuits against Apple and Ticketmaster. Investigations into the practices of other tech companies like Microsoft, Nvidia, and OpenAI have also been initiated. RealPage has defended its software, arguing that landlords ultimately have the power to set their own rent prices and are not obligated to follow the recommendations provided by the algorithm. This legal action is a significant development in the ongoing efforts to address antitrust violations in various industries and protect consumers from unfair practices.
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RealPage accused of violating antitrust laws in rent increase scheme – Daily News
