Accused of Using Algorithms To Fix Rental Prices, RealPage Goes on Offensive

RealPage says it isn't doing anything wrong by suggesting to landlords how much rent they could charge. From a report: In a move to reclaim its own narrative, the property management software company published a microsite and a digital booklet it's calling "The Real Story," as it faces multiple lawsuits and a reported federal criminal probe related to allegations of rental price fixing. RealPage's six-page digital booklet, published on the site in mid-June, addresses what it calls "false and misleading claims about its software" -- the myriad of allegations it faces involving price-fixing and rising rents -- and contends that the software benefits renters and landlords and increases competition. It also said landlords accept RealPage's price recommendations for new leases less than 50 percent of the time and that the software recommends competitive prices to help fill units. [...] But landlords are left without concrete answers, as questions around the legality of this software are ongoing as they continue renting properties. "I don't think we're seeing this as a RealPage issue but rather as a revenue management software issue," says Alexandra Alvarado, the director of marketing and education at the American Apartment Owners Association, the largest association of landlords in the US. Alvarado says some landlords are taking pause and asking questions before using the tech.

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