Real estate company helped to artificially inflate rents across America, Justice Department alleges | CNN Business

CNN  — 

The Justice Department has filed a civil lawsuit against the real estate company RealPage, alleging the company’s software uses landlord data to artificially inflate the price of rent across the United States by quelling competition in the market.

According to the complaint, the Texas-based company uses nonpublic data from landlords to train RealPage’s algorithm for pricing recommendations, creating a “vast scheme to subvert the competitive process,” one Justice Department official said.

“Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Don’t Fall Prey to Generic Marketing Advice — Here’s How to Filter It Out and Focus on What Truly Matters

Opinions expressed by Entrepreneur contributors are their own. Successfully marketing your own business or a client's business means embracing a lifelong journey...

Before Laying People Off, Try Improving Communication for Employees. Here’s How.

Opinions expressed by Entrepreneur contributors are their own. Economic uncertainty can cause leaders to go into survival mode and look for ways...

See Powell’s important announcement about inflation and the economy | CNN Business

'We got 76 days': Walz fires up DNC crowd with football-themed pep talk 01:04 Now playing - Source:...