Overview
- Gov. Kathy Hochul signed the bill on Oct. 16, with the law set to take effect in 60 days.
- Landlords that use algorithmic tools to set rents will be deemed to be colluding when two or more adopt the software, including when done with reckless disregard.
- The crackdown follows a 2024 U.S. Department of Justice antitrust lawsuit against RealPage and investigations linking pricing algorithms to rent increases.
- Officials cite estimates that algorithm-driven price fixing added roughly $3.8 billion to renters’ costs nationwide over the past year.
- New York’s action tracks a wider trend, with recent restrictions in California and city bans in Jersey City, Philadelphia, Minneapolis, San Francisco, and Seattle, and it was signed alongside bills on appraisal bias and security-deposit returns.