The DOJ and eight states on August 23 sued the private equity-owned company that allegedly operates as the middle man in a national property management cartel that has sent rent through the roof. The civil lawsuit accuses RealPage of using the software it sells to real estate management companies to orchestrate an illegal price-fixing scheme, which all but eliminates competition among mega landlords, allows them to boost prices, and acted as a major factor in skyrocketing rents in recent years.
RealPage and the rental management companies, many of which are private equity-owned, are also facing dozens of class action lawsuits from tenants.
RealPage and the rental management companies, many of which are private equity-owned, are also facing dozens of class action lawsuits from tenants.