RealPage & Yardi Systems
When you think rent, you don’t think AI — or do you?
Many major landlords rely on just two software providers to help determine rent prices — RealPage and Yardi Systems. These firms collect renter data and communicate with landlords to help them set prices for tenants.
But according to two lawsuits, the two platforms have allegedly shared confidential pricing information to collude on setting rents.
Modern Rental Pricing
The software providers analyze market rental data and use algorithms that tell landlords how much to charge for rent, when to increase prices, and more.
However, these algorithmic pricing models often encourage landlords to keep rents high in order to boost profits, even if it means losing tenants. The models also typically discourage landlords from cutting rent prices during tough times.
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