DEVELOPING: Landlords' Price-Gouging Algorithm Faces New Limits Amid Prosecutors' Crackdown

Breaking News: Landlords' Price-Gouging Algorithm Faces New Limits Amid Prosecutors' Crackdown The US Department of Justice has announced a settlement with RealPage Inc., a Texas-based software company, to end what critics called "algorithmic collusion" in the rental market. Under the deal, RealPage would no longer provide landlords with confidential data to quietly track each other's rent prices and push them higher. As part of the settlement, RealPage's software, which provides daily recommendations to help landlords price their apartments, will no longer share this sensitive information. This move is expected to limit landlords' ability to engage in price-gouging practices. The lawsuit against RealPage was launched by the Biden administration in 2023, alleging that the company's software facilitated anticompetitive behavior in the rental market. The settlement does not require RealPage to pay damages or admit wrongdoing. The deal must still be approved by a judge before it takes effect. RealPage's software is used by landlords nationwide, and the impact of this settlement on the rental market remains to be seen. This is a developing story, and we will provide updates as more information becomes available.