US Justice Department accuses six major landlords of scheming to keep rents high
US Justice Department accuses six major landlords of scheming to keep rents high
The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep Americans’ rents high.
Summary
The U.S. Justice Department, joined by 10 states, has sued six major landlords and RealPage, a company behind a rent-setting algorithm, accusing them of colluding to keep rents high by sharing sensitive pricing data and avoiding competition.
The landlords, operating over 1.3 million units, allegedly used RealPage's algorithm and coordination to align rents, exacerbating the housing crisis.
One landlord has agreed to cooperate with prosecutors.
Critics argue this scheme worsens affordability issues for renters, who already face record rent burdens amid a strained housing market.
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They only found six?
The department... is accusing six landlords that collectively operate more than 1.3 million units in 43 states and the District of Columbia of scheming to avoid lowering rents.
Wtf. That's not a "landlord" that's a "corporate housing overlord". That shit should be illegal.
That shit is the norm lol. Every apartment I’ve ever lived in except for a very small one has been owned by these big corporations.
Thank god it's not a monopoly though--there's 6 different ones!!! 🥴