Justice Department announces settlement with nation’s largest landlord over rent pricing algorithm

1WASHINGTON, DC – The Justice Department’s Antitrust Division has reached a proposed settlement with Greystar Management Services LLC, the largest residential landlord in the United States , to resolve claims that it participated in an algorithm-based rent pricing scheme with other major property managers.

Federal prosecutors allege Greystar, which manages nearly 950,000 rental units nationwide, used RealPage’s software to share competitively sensitive data with rival landlords. The data was used to generate coordinated rent pricing recommendations and incorporate rules that aligned competitors’ pricing. The complaint also claims Greystar and other companies held direct discussions about rents, pricing strategies, and RealPage software parameters.

Under the proposed consent decree, Gre