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PHOENIX – Today, the Department of Justice announced it has filed a civil antitrust lawsuit today against rent-pricing company RealPage Inc.
“Earlier this year, I called on the Administration to investigate RealPage because I saw the negative impacts their unfair practices were having on Arizonans – raising rents and overcharging hardworking families by more than ten percent,” said Rep. Ruben Gallego (AZ-03). “I’m glad that the DOJ has followed my lead and is working to stop these unfair, anti-competitive practices. I will never stop fighting for the affordable housing Arizonans deserve.”
RealPage, whose clients comprise 90% of the U.S. multifamily housing market, is a pricing software for property managers and landlords of multifamily housing developments that uses non-public, competitively sensitive data to generate a “price” for renting units that maximizes a landlord’s revenue.
On average, Phoenix residents living in units priced by RealPage pay an overcharge of 12% compared to non-RealPage units. That is why, in March 2024, Rep. Gallego sent a letter to the Federal Trade Commission (FTC) calling on them to investigate the company.
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