Landlord Tech Company CYBER Sued for Alleged Rent Fixing Scheme
The Attorney General of Washington, D.C. is suing RealPage, a property management software company, and 14 major landlords for allegedly colluding to raise rents. The lawsuit claims that the companies shared data with RealPage, which used an algorithm to artificially increase prices for over 50,000 apartments in the city, resulting in illegal rent hikes. The alleged collusion violates the District of Columbia's Antitrust Act. The lawsuit seeks financial penalties and the appointment of a corporate monitor to prevent further anti-competitive behavior.