All articles tagged with #greystar
Greystar and 25 property management companies agree to pay over $141 million to settle a lawsuit alleging they used rent-setting algorithms to inflate housing costs, with Greystar paying $50 million; the companies also commit to no longer sharing nonpublic data with RealPage, which denies wrongdoing. The settlement aims to address alleged anti-competitive practices in the rental market.
Greystar and 25 property management companies agree to pay over $141 million to settle a lawsuit alleging they used RealPage's rent algorithms to artificially inflate housing costs, with Greystar paying $50 million. The companies will also stop sharing nonpublic data with RealPage, marking a significant shift in the industry. RealPage denies wrongdoing, claiming its software's recommendations are misunderstood and that high rents are driven by housing supply issues.
A jury has awarded an $860 million verdict against real estate developer Greystar for the 2019 Old East Dallas crane collapse that killed a 29-year-old woman. The verdict is $160 million more than the amount asked for by the victim's family. The jury found Greystar negligent for allowing the crane's inspection to lapse, having rusty bolts on the crane, and installing a sign on top of the crane in violation of OSHA standards. The crane and operator were the responsibility of Bigge Crane and Rigging, but the jury did not award any damages against them. The attorney for the victim's mother asked for $12,006 in punitive damages, the amount that holds significance as it was the victim's apartment number.