Justice Dept. Settles with Greystar to End Participation in Algorithmic Pricing
13 days ago
- #Rental Markets
- #Justice Department
- #Antitrust
- The Justice Department’s Antitrust Division filed a proposed settlement against Greystar Management Services LLC for anticompetitive practices in rental markets.
- Greystar, the largest U.S. landlord, allegedly shared sensitive data and discussed pricing strategies with competitors using RealPage’s algorithms.
- Attorney General Pamela Bondi emphasized the importance of free-market competition for affordable housing.
- Assistant Attorney General Abigail Slater stated that competitors cannot share sensitive information or align prices to harm consumers.
- The proposed consent decree requires Greystar to comply with certain conditions if approved by the court.
- The settlement will be published in the Federal Register, with a 60-day public comment period before final court approval.