The U.S. Department of Justice (DOJ) sued RealPage on Friday after a two-year investigation that included an unannounced FBI raid of a national corporate landlord. The DOJ alleged that Richardson, Texas-based RealPage, which sells real estate software, decreased competition among landlords and artificially inflated rents for millions of tenants across the country.
“We allege that RealPage’s pricing algorithm enables landlords to share confidential, competitively sensitive information and align their rents,” attorney general Merrick B. Garland stated in a press release.
The DOJ filed the 115-page complaint in the U.S. District Court for the Middle District of North Carolina on Friday. The antitrust lawsuit details how RealPage signed contracts with landlords who
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