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Giant landlord Greystar settles with California for colluding on rents in Los Angeles and elsewhere

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The lawsuit alleges Greystar and other landlords were illegally using RealPage to share proprietary data so they could align their prices and drive up rents.

RealPage described its software as a tool for maximizing rent and outperforming the market. Authorities also alleged the company made it more difficult for landlords to reject its recommendations than accept them.

“There is greater good in everybody [i.e. the landlords] succeeding versus essentially trying to compete against one another in a way that actually keeps the entire industry [i.e. rents] down,” a RealPage executive said, according to the lawsuit.

More on the larger DOJ/states' antitrust complaint against RealPage.