I just saw this news and wanted to get your thoughts. The DOJ is going after a company called RealPage. They make software for landlords and property managers.
The government says RealPage’s software lets landlords team up to jack up rent prices. Apparently, it helps them share info and set higher rents together. That’s not allowed - it’s called price fixing.
What do you think about this? Is the government right to step in? Or is this just how the market works now with all the tech we have?
I’m not sure how I feel about it. On one hand, landlords should be able to charge what they want. But if they’re all working together to keep prices high, that seems unfair to renters.
Anyone have experience with RealPage or know more about how their software works? I’d be really interested to hear from people in the real estate industry on this one.
woa, this is wild. i rent and had no idea this was goin on. seems kinda shady tbh. like, how is that even legal? landlords already have all the power, now they got fancy software to squeeze us more? not cool man. hope the gov actually does somethin bout it for once.
Interesting case! Makes me wonder how much tech is influencing other industries without us realizing. Are algorithms secretly shaping prices everywhere? What if software’s nudging up costs for groceries or gas too? Maybe we need more oversight on these ‘smart’ systems across the board. What do you all think?
As someone who’s worked in property management, I can shed some light on this. RealPage’s software is widely used in the industry, but I’ve always had mixed feelings about it. While it provides valuable market insights, there’s a fine line between informed pricing and potential collusion.
The software aggregates rental data from multiple properties, which can lead to a form of indirect price fixing, even if that’s not the intent. It’s a complex issue because individual landlords aren’t explicitly agreeing to set prices, but the end result can be similar.
From my experience, the real problem is the lack of transparency. Tenants have no idea their rent might be influenced by an algorithm using data from competing properties. The DOJ’s involvement could lead to more open practices and fairer competition in the rental market.
Ultimately, this case highlights the need for updated regulations in the face of advancing technology in real estate.