Justice Department Expands Rental Housing Market Investigation – California Listings

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The Justice Department is reportedly expanding its investigation into rental market practices, zeroing in on RealPage. According to Politico, the DOJ is looking into the possibility that RealPage is facilitating price-fixing among some large firms and property owners.

This marks an escalation of a two-year probe primarily by the DOJ’s antitrust lawyers as a civil matter. The investigation reportedly centers around so-called algorithmic price-fixing.

Buy/sell, rent/lease residential &
commercials real estate properties.

According to Politico, the DOJ is concerned that RealPage’s software is used as a shield for competitors to exchange sensitive pricing data that their rivals would otherwise not be able to access. RealPage has denied any wrongdoing.

The company is already the target of a class-action lawsuit brought by renters, with additional suits filed by attorneys general in Washington, D.C. and Arizona.

“RealPage’s revenue management software is purposely designed and built to be legally compliant, and we have a history of working constructively with the Department of Justice to show that,” company spokesperson Jennifer Bowcock said in a statement. “In fact, in 2017 the DOJ analyzed extensive information about YieldStar and [Lease Rent Options] when it granted antitrust clearance for RealPage’s acquisition of LRO without objecting to the nature of our revenue management products.”

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