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RealPage said previously that its revenue management software prioritizes a property’s own internal supply and demand dynamics over external factors such as competitors’ rents.

A U.S. Senate committee is asked the Federal Trade Commission to review whether the rent-setting software from Texas-based property tech company RealPage violates antitrust laws by helping big landlords operate as a cartel to push rents above competitive levels in some markets. Read more»

The property managers named in the lawsuit included Greystar, Lincoln Property Company, Equity Residential, Mid-America Apartment Communities and FPI Management - some of the nation’s largest landlords.

Renters filed a lawsuit this week alleging that RealPage -a company that makes price-setting software for apartments - and nine of the nation’s biggest property managers formed a cartel to artificially inflate rents in violation of federal law. Read more»