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The U.S. Department of Justice on Friday sued a major real estate firm, alleging the company's algorithmic software enables landlords across the country to set rent at artificially high rates.
The federal lawsuit filed in North Carolina alleges RealPage holds a monopoly in what is called "revenue management software" for landlords because the company controls 80% of the market nationwide.
RealPage, Inc. is an American property management software company, owned by the private equity firm Thoma Bravo, and known for its algorithmic rent setting, which is allegedly price fixing. Its services are used to manage more than 24 million housing units worldwide in multifamily, commercial, single-family, and vacation rentals.
RealPage, of Texas, has been sued in Washington DC for a product that, among other things, helps landlords big and small to set rents. It also has been on the other end of more than 20 class ...
symptoms that include headache, fatigue, low fever, sore throat, runny nose, diarrhea, and nausea. round, bright red rashes on the cheeks, but may be less noticeable on darker skin tones. a lacy ...
Web portal. A web portal is a specially designed website that brings information from diverse sources, like emails, online forums and search engines, together in a uniform way. Usually, each information source gets its dedicated area on the page for displaying information (a portlet); often, the user can configure which ones to display.
Uniform Appraisal Dataset is a component of the Uniform Mortgage Data Program, an initiative undertaken by Fannie Mae and Freddie Mac (together known as the GSEs) under the direction of the Federal Housing Finance Agency in the United States in order to comprehensively standardize mortgage loan data so that loans may be processed more efficiently.
RealPage acknowledged that its product was designed to maximize profits for landlords, according to the suit, by describing it as "driving every possible opportunity to increase price."