Rental prices are high across the United States, but the reason may not just be demand or inflation. According to lawsuits filed across the country, including one filed most recently in Arizona, a pricing algorithm may be to blame.
On Wednesday, Arizona Attorney General Kris Mayes filed a lawsuit against RealPage, a $9 billion software company that gives landlords pricing recommendations in 4.5 million housing units across the U.S.
Mayes alleged that landlords worked with RealPage and nine other property management companies listed as co-defendants to suppress competition and essentially create a “rental monopoly” in Arizona’s largest cities — causing households to see 30% to 76% rent increases within six years
→ Continue reading at Entrepreneur