D.C. Wins $1.4 Million Settlement in RealPage Rent-Fixing Case as Two Landlords Agree to Change Practices
Two landlords agreed to pay $1.4 million and change rent-setting practices after being accused of using RealPage software to artificially inflate rents.Summary
The District of Columbia has secured a $1.4 million settlement with two landlords, Avenue5 Residential, LLC and Bell Partners, Inc., following an antitrust lawsuit alleging they conspired to raise rents. Attorney General Brian Schwalb announced that the companies will pay $700,000 each, with funds allocated to civil penalties, payments to affected residents, and the District's legal costs. The settlements are part of a broader legal action against RealPage, a property management software company accused of facilitating rent-fixing by collecting confidential data from landlords and generating pricing recommendations. The lawsuit claims that RealPage's platform allowed landlords to share sensitive information and coordinate price increases, affecting a significant portion of the city's rental market. As part of the agreements, both companies have agreed to stop using revenue-management software that relies on non-public information and to refrain from sharing confidential data that could facilitate coordinated pricing. The consent judgments include enforcement provisions, such as the appointment of an independent monitor if violations are suspected.
(Source：The Washington Informer)