
From the The Office of the DC Attorney General:
“Attorney General Brian L. Schwalb today announced a lawsuit against RealPage, Inc. (RealPage) and 14 of the largest residential landlords in the District for colluding to illegally raise rents for tens of thousands of DC residents by collectively delegating price-setting authority to RealPage, which used a centralized pricing algorithm to inflate prices, costing renters millions of dollars.
The defendant landlords are some of the largest providers of multifamily housing in the District, and the Office of the Attorney General’s (OAG) investigation revealed that RealPage’s technology was used to set rents for more than 50,000 apartments across DC, in violation of the District’s Antitrust Act.
“RealPage and the defendant landlords illegally colluded to artificially raise rents by participating in a centralized, anticompetitive scheme, causing District residents to pay millions of dollars above fair market prices,” said AG Schwalb. “Defendants’ coordinated and anticompetitive conduct amounts to a District-wide housing cartel. At a time when affordable housing in DC is increasingly scarce, our office will continue to use the law to fight for fair market conditions and ensure that District residents and law-abiding businesses are protected.”
The 14 landlords named in the lawsuit are: (more…)