U.S. landlords who use RealPage products to set prices on rental apartments are facing accusations of collusion.
  • A group of lawsuits accuse large landlords of price-fixing the market rate of rent in the United States
  • A complaint filed by Washington D.C.’s Attorney General alleges 14 landlords in the district are sharing competitively sensitive data through RealPage, a real estate software provider
  • RealPage recommends prices for roughly 4.5 million housing units in the United States
  • RealPage told CNBC that its landlord customers are under no obligation to take their price suggestions

A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes.

“We’ve been told as tenants by employees of Equity that the software takes empathy out of the equation. So they can charge whatever the software tells them to charge,” said Kevin Weller, a tenant at Portside Towers since 2021.

Tenants say the management started to increase prices substantially after giving renters concessions during the Covid-19 pandemic.

  • cynar@lemmy.worldEnglish
    2·
    5 months ago

    There are times that a corporate entity of some description is extremely useful. The issue is for-profit companies.

    A simpler solution is to add a tax, based on the property value for for-profit companies. For niche situations, the effect of this will be annoying but not devastating. For companies dedicated to sucking money out of housing, it will hurt them badly. Maybe have it tick up 0.5% of the property a year till it’s 5%. Slow enough not to cause a massive shock to the market, but large enough to force a change.

    An obvious example of a useful company owned housing situation is a set of apartments. However, here a non profit would work even better.

    As for valid for-profit ownership, it does happen. E.g. I know of a veterinary practice that owns several houses. They used them to provide subsided housing to staff, close at hand. They also allow them to house mid to long term locum staff close to the practice. Everyone wins from this arrangement.