The Department of Justice, joined by state attorneys general, has filed an amended complaint against RealPage and six of the nation’s largest landlords, accusing them of engaging in an anticompetitive scheme that drove up rental prices for millions of Americans.
The lawsuit alleges that Greystar Real Estate Partners LLC, LivCor LLC, Camden Property Trust, Cushman & Wakefield Inc., Willow Bridge Property Company LLC, and Cortland Management LLC used RealPage’s pricing algorithms to coordinate rental rates and share sensitive information, reducing competition in the housing market. These landlords manage over 1.3 million units across 43 states and Washington, D.C.
The Justice Department has accused them of exchanging sensitive information, including rent levels, pricing strategies, occupancy rates, and renewal rates, to align their rental prices. Federal officials allege that property managers frequently conducted so-called “call-arounds,” contacting competitors to gather and share details about rents and discounts. Senior executives also communicated directly about planned price increases and other strategies, further undermining competition…