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FBI raids corporate landlord office, escalating criminal investigation into allegations of rent price-fixing by landlords and software vendor RealPage
The FBI conducted an unannounced raid on the Atlanta headquarters of Cortland Management on Wednesday, May 22.
At the center of this investigation is RealPage, a software and consulting firm accused of helping orchestrate price-fixing among large corporate landlords. The scheme purportedly operated by encouraging landlords to adopt RealPage’s pricing recommendations, a practice they follow 80-90% of the time. One of the architects of RealPage’s system reportedly stated that the aim is to prevent landlords from undervaluing their properties, ensuring consistently higher rents across the board.
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