DOJ will examine whether RealPage helped landlords coordinate rent increases
Collusion / price fixing as a service.I'm sure a decent chunk of HN's population has lived or lives in properties that are or were using RealPage.Rant/Anecdote ahead:We have recently decided to rent from a house from a private landlord after equity (a RealPage customer), "offered" us a 15% rent hike which they considered "reasonable" after massively cutting staff, service, security & amenities during covid.
Practically every other building in the area (downtown Redmond, WA) has increased prices in unison so there is basically 0 competition.These companies have turned areas they operate into upscale meat grinders that lure you with a "welcome" price only to systematically hike up your rent way beyond inflation. To slowly push you out if your salary doesn't grow faster to equal to their hikes.Many of our friends have similar experiences.Imo corporate landlords need to be heavily regulated and need to be broken up.