The nation's largest landlord has reached a settlement with the Justice Department (DOJ) over claims it used a rent-setting algorithm improperly and colluded with competitors to boost profits.

Greystar, which manages almost 950,000 rental units across the country, agreed to a proposed settlement earlier this month that will bar the company from using "any anticompetitive algorithm" that generates pricing recommendations using its competitors' sensitive data, DOJ said in a statement.

The agreement comes after federal prosecutors accused Greystar and other large landlords of using RealPage's algorithmic pricing software to share sensitive rental data, enabling them to coordinate rent increases.

The Trump administration said Greystar and other landlords also discussed competitively sensiti

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