Texas-based RealPage Inc. provides software and services to the real estate industry.

The complaint, filed in the Southern District of California against RealPage Inc. and nine landlords, claims they violated Section 1 of the Sherman Antitrust Act by eliminating natural imbalances and competitive pricing for multifamily residential real estate leases.

The complaint also quotes from a marketing video used to attract additional real estate clients, in which a RealPage Vice President discusses the recent and never-before seen price increases for residential real estate leases, as high as 14.5% in some markets. When another RealPage executive asks: “What role has the [RealPage] software played” in those increases, the RealPage Vice President responded: “I think it’s driving it, quite honestly.”

(Link submitted 25 October 2022 04:10 UTC.)