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DOJ reportedly planning RealPage civil suit for “collusive conduct in the rental housing market” — Justice Department probing the exchange of pricing information and even vacancy rates, which essentially restricts supply at competing buildings
The Justice Department is probing the exchange of pricing information and even vacancy rates, according to Politico.
DOJ staff recommended a suit accusing the Richardson, Texas-based company of “selling software that enables landlords to illegally share confidential pricing information in order to collude on setting rents,” Politico reported. “While we don’t comment on rumors or speculation, I can tell you that the DOJ extensively reviewed LRO and YieldStar in 2017, without objecting to, much less challenging, any feature of the products,” said Jennifer Bowcock, senior vice president of communications at RealPage. In a suit filed last year, Washington, D.C., Attorney General Brian Schwalb claimed that the company policed its contracts and that landlords abided by its suggested rents more than 90% of the time.
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