American real estate owners demand that they used the rental status algorithms to receive consumers worldwide for $ 141 million

Greystar, the country’s largest owner, will pay $ 50 million under the proposed settlement agreement, which was submitted on Wednesday in a federal court in Tennessee. The deal still requires the approval of the judge.

Companies also agreed not to share non -public information with RealPage for their rental algorithm – a major text, because the prosecutors say that RealPage used this information to enable owners to align their prices and pay rents.

Lawyers wrote in the settlement file: “This represents a fundamental shift in the multi -capacity housing industry and will help in contrast to the type of anti -competition for the alleged complaint,” Lawyers wrote in the settlement file.

All companies participating in the settlement refuse to commit violations and agreed to help the plaintiffs in the continuous case against RealPage and more than ten other property management companies that have not reached settlements. RealPage and others also fight a lawsuit against monopoly The Ministry of Justice was presented last year And many public lawyers. Greystar arrived in this case in August.

The settlement funds will be distributed from the collective lawsuit between millions of tenants listed in the settlement category.

In a statement, Greystar said that these settlements “allow us to move forward and stay focus on serving our residents and customers.” Its headquarters is located in South Carolina, Greystar runs more than 946,000 units throughout the country, according to the National Multi -Family Housing Council.

RealPage strongly denied any violations and argues that the plaintiffs misunderstand how their products work. Realpage, which is located in Texas, said its programs are used in less than 10 % of rental units in the United States, and that their price recommendations are used less than half of the time.

“While the proposed settlements … do not include RealPage, we encourage us to see this issue moving towards closure,” Jennifer Bokuk, Vice President of RealPage Communications Company, said in a statement. “RealPage still believes this litigation without an advantage and that our revenue management products, and the use of our customers, have always been legal.”

RealPage provides daily recommendations to help owners and their employees pricing their available apartments. Angel does not have to follow the suggestions, but critics argue that since the program has access to a wide range of secret data, it helps RealPage customers to impose the highest possible rent.

RealPage argues that the real driver of high rents is a lack of housing supply. It also says that its pricing recommendations often encourage owners to drop rents because the angel is motivated to increase revenues and maintain a high job.

Among the other defendants, Iowa -based BH Management will pay $ 15 million, while the Simpson Property Group will pay $ 6.5 million. The settlements of other companies range from $ 550,000 and $ 6 million.

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