The Federal Bureau of Investigation (FBI) conducted an unannounced raid of national corporate landlord Cortland Management on May 22, ramping up an investigation into an alleged rental price-fixing conspiracy that may have already impacted millions of Americans.
The surprise search was reportedly part of a criminal antitrust investigation by the U.S. Department of Justice (DOJ) into RealPage, a $9 billion software company that recommends rent raises on millions of housing units across the U.S.
Per RealPage blog posts, Atlanta, Georgia-based Cortland, which owned nearly 85,000 apartment units as of June 2022, used RealPage’s algorithm to “ensure consistent vendor pricing for their communities from Arizona to Georgia.”
RealPage’s effects can be seen
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