Tennessee Attorney General Jonathan Skrmetti on Friday joined seven other states and the U.S. Department of Justice (DOJ) in an antitrust lawsuit accusing the property management software company RealPage of using its service to algorithmically fix rental prices across the United States, allowing them to form a monopoly that allows rental owners to collaboratively set prices in a bid to avoid market pressures to lower rent.
The DOJ confirmed the legal action on Friday, alleging RealPage is engaged in an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market for commercial revenue management software that landlords use to price apartments.”
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