Overview
- The proposed consent judgment would bar use of rent-pricing tools that draw on competitors’ nonpublic, competitively sensitive data and would limit information-sharing.
- Additional terms include a ban on attending RealPage-hosted landlord meetings, potential court-appointed monitoring for uncertified third-party algorithms, and cooperation in the states’ case against RealPage.
- California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, Oregon and Tennessee are parties to the deal.
- Colorado expects more than $1 million from the payment, with the remainder distributed among the other participating states.
- Greystar, which manages more than 900,000 units, denies wrongdoing and has separately reached a $50 million class-action settlement and a nonmonetary agreement with the DOJ; enforcement of the new terms would last five years if approved.