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RealPage lawyer says using nonpublic information leads to lower rents
On a call with reporters Monday, a company attorney said it aggregates and anonymizes data used in its pricing recommendations.
However, it said this week that the data contributes to lower rents, not to higher housing prices as the Department of Justice and eight states asserted in a lawsuit filed in federal court in North Carolina on Friday. Nonpublic information “yields lower advertised rents” than what would otherwise be suggested by RealPage, said Stephen Weissman, an antitrust attorney for Gibson Dunn, who represents the Richardson, Texas-based data and software company, on a call with reporters earlier this week. It contends that the company encourages loyalty to its algorithm’s recommendations through various methods, including an “auto accept” functionality and the use of pricing advisors who monitor landlords’ compliance.
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