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RealPage , which shit property direction computer software , wassuedFriday by the U.S. Justice Department and eight attorneys general for allegedly helping flat and edifice managers around the body politic collude to drive up building block Leontyne Price .
The Richardson , Texas - base outfit is incriminate of contracting with rival landlords to absorb information about their rates and lease terms to train RealPage ’s recommendation algorithmic program , and in the process admonish rival among property owners who defer to the troupe ’s recommendations on pricing and other term .
It ’s the DOJ ’s first enceinte algorithmic collusion showcase and comes as rent in the U.S. skyrockets , rise 33 % since March 2020,accordingto Zillow .
RealPage , which wasacquiredby private equity firm Thoma Bravo in 2021 for $ 10.2 billion , overlook 80 % of the market for commercial revenue management software for conventional multi - family housing rentals in the U.S. , according to the case . The companydeniesany wrongdoing .
