Greystar, a prominent property management firm, has agreed to pay a $7 million settlement to resolve a lawsuit alleging rent price manipulation. The company, which manages hundreds of properties across California, was accused of using RealPages software to coordinate rental prices with other landlords, violating antitrust laws. As part of the settlement, Greystar will stop using RealPages system and cooperate with the federal prosecution of RealPage and other landlords. The U.S. Justice Departments Antitrust Division has also proposed a settlement with RealPage, which would require the company to stop using competitors private information for pricing and remove features that limit price drops or align prices between competitors.
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
