RealPage and Willow Bridge face another lawsuit related to algorithmic rent-setting software, this time in Philadelphia.

Plaintiff and tenant Yiyao Liu filed a class-action suit in the Philadelphia County Court of Common Pleas, alleging the two firms violated the city’s rent price-fixing statute, according to the complaint.

Under Philadelphia law, it is illegal to provide software that collects non-public competitor data and uses it to recommend rental prices, fees, terms or occupancy levels — and it is also illegal for a landlord to pay for it, per the complaint. Liu, who lived in a building managed by Willow Bridge, alleges that “RealPage provided such software, and Willow Bridge used it at its Philadelphia properties.”

The Department of Justice filed a proposed settlement to resolve its claims against Willow Bridge Property Co., one of the country’s largest apartment managers.

The United States et al. v. RealPage et al. federal antitrust case alleges that Willow Bridge violated the Sherman Act, which prohibits unfair monopolies, with its use of RealPage’s rent price-setting software.

The agreement is part of the DOJ’s ongoing enforcement against algorithmic coordination, use of competitively sensitive data and other anticompetitive practices in rental markets, per a press release from the agency. The deal does not include financial penalties and must still get a judge’s approval.

Nine state attorneys general announced a $7 million settlement with LivCor, a multifamily asset management company owned by Blackstone, which is named in an ongoing federal price-fixing lawsuit against RealPage, according to a consent judgement. The deal still requires court approval.

According to the settlement terms, LivCor agrees to not use any software that uses competitively sensitive information to set rents, and it will cooperate in the ongoing prosecution of remaining defendants. The company denies fault, liability or wrongdoing.

Avenue5 Residential and Bell Partners agreed to pay Washington, D.C., a combined $1.4 million and to change certain business practices to resolve allegations that they conspired with other landlords, using RealPage’s pricing software, to inflate rents at more than 50,000 apartments in the district, according to a press release.

Avenue5 Residential and Bell Partners will each pay $700,000 in civil penalties, money to impacted residents and legal fees, per their respective consent agreements. They also agreed to reform their rent-setting practices and to stop sharing non-public information with other landlords, but the firms do not admit fault.

The settlements are the latest developments in a case that the D.C. attorney general’s office filed in 2023 against RealPage and 14 landlords, accusing them of “unlawfully agreeing to exchange competitively sensitive data in violation of the District of Columbia Antitrust Act.”

A group of apartment owners and managers has agreed to pay a total of $218 million to resolve a 2023 class-action lawsuit, which alleges that they conspired with rivals to inflate rent prices using RealPage’s software, according to federal court documents.

Eleven defendant landlords have reached 14 class settlements, but they do not admit fault or liability, according to the preliminary class-action settlements. The deal still requires a judge’s approval.

Equity Residential has joined a slew of apartment firms agreeing to settle in a class-action lawsuit accusing dozens of the country’s biggest landlords of using RealPage’s software to coordinate rent increases, per a government filing.

The REIT agreed to a $56 million settlement in multidistrict class-action litigation in federal court in Tennessee, according to a U.S. Securities and Exchange Commission filing. 

EQR said in its SEC filing that it believes resolving the antitrust suit now will allow it to avoid the costs and distractions of prolonged litigation, enabling the REIT to focus on its business objectives. It also believes the settlement will reduce “meaningful legal uncertainty and risk associated with complex antitrust litigation.”

Camden Property Trust has reached a $53 million settlement in multidistrict class-action litigation in Tennessee federal court that accused the REIT and dozens of the country’s biggest landlords of using RealPage’s property management software to coordinate rent increases, according to a U.S. Securities and Exchange Commission filing.

The REIT is the latest operator to agree to pay to resolve claims that it conspired to artificially inflate multifamily residential rents through the use of RealPage’s software. The settlement is subject to court approval, and Camden does not admit fault or liability.

Camden said in the SEC filing that it believes resolving the antitrust suit now will allow it to “avoid the significant costs and distraction of protracted litigation” and focus on its business objectives. The sum will fund class member recoveries, plaintiffs’ legal fees and settlement administration costs.

A federal judge in New Jersey has narrowed the scope of an April 2025 antitrust lawsuit against RealPage and 10 of the biggest landlords operating in the state, partially dismissing claims brought by New Jersey Attorney General Matthew Platkin and the state’s Division of Consumer Affairs, court documents show.

U.S. District Judge Madeline Cox Arleo issued a ruling in the United States District Court, District of New Jersey that partially granted joint motions to dismiss filed by a group of defendants as well as four individual motions from specific landlords: Cammeby’s Management Co. of New Jersey and The Kamson Corp., Aion Management, Russo and AvalonBay.

A federal judge in Washington has dismissed 10 out-of-state property managers from a class-action rent price-fixing lawsuit that names Yardi Systems as lead defendant, holding that the court didn’t have jurisdiction over them.

The U.S. District Court for the Western District of Washington at Seattle does not have personal jurisdiction over non-resident LLC defendants who did not undertake “intentional actions expressly aimed at the state,” Judge Robert Lasnik said in a filing. 

Mid-America Apartment Communities has agreed to settle a multidistrict class-action lawsuit related to its use of RealPage’s rent-setting software for $53 million, according to a U.S. Securities and Exchange Commission filing. The agreement is still subject to court approval.

The antitrust suit alleges that Mid-America Apartment Communities Inc. and its subsidiary Mid-America Apartments L.P., along with dozens of the country’s biggest apartment landlords, conspired to artificially inflate multifamily residential rental prices through the use of RealPage’s software.

In the filing, MAA said it believes the settlement “reduces significant legal uncertainty and risk” associated with complex antitrust litigation. The firm does not admit fault or liability.

New York Attorney General Letitia James asked a federal court to toss a lawsuit filed by real estate software provider RealPage that seeks to halt statewide measures restricting algorithmic rent pricing.

Landlords in New York and across the country have relied upon pricing algorithms that can enable them to charge much higher rents than a competitive market would yield, James said in the motion to dismiss filed in the U.S. District Court, Southern District of New York. 

In November 2025, RealPage asked for a preliminary injunction on New York’s prohibition on the use of pricing algorithms to set residential rents, which took effect in December 2025. It’s the first state to impose such a ban.

The U.S. Justice Department and RealPage reached an agreement to settle a 2024 lawsuit that claimed the software provider enabled landlords to collude to raise rent prices beyond free market levels. The settlement is subject to court approval.

The agreement includes no financial penalties, damages or findings or admissions of wrongdoing, but puts guardrails around what data RealPage can collect and how it can use it.

“This resolution with the DOJ was necessary to provide certainty and finality for RealPage and its customers to avoid protracted litigation,” Stephen Weissman, Gibson Dunn partner and former deputy director for the Federal Trade Commission, said in a press release from RealPage.

Nine states have reached a $7 million settlement with Greystar, resolving claims that the apartment giant participated in a scheme that drove up rental prices by using shared rent-setting algorithms, according to a new federal court filing in the Middle District of North Carolina.

If the federal district court approves the consent decree, Greystar will pay $7 million to the participating states and agree to strict new limits on its use of rent-setting algorithms and data-sharing platforms. It must identify an antitrust compliance officer to the states within 30 days of the entry of the consent judgment.

Attorneys general of California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, Oregon and Tennessee agreed to a settlement stemming from a January 2025 lawsuit. 

Attorneys general from Washington, D.C., Maryland, New Jersey and Kentucky asked a federal judge to reject nearly $142 million in proposed settlements between renters and major property managers, arguing that the deals could undermine their ongoing legal actions, per a filing in the U.S. District Court, Middle District of Tennessee - Nashville Division.

However, defendants pushed back in a filing in the same court, saying the AGs are trying to “threaten resolution of this case so they can seek duplicative damages and attorneys’ fees for the private law firms that represent them on contingency.” 

Dozens of property management firms, including the country’s largest landlord, Greystar, have agreed to resolve a 2023 class-action lawsuit alleging that they conspired with rivals to inflate rental prices using algorithms offered by software company RealPage, according to recently filed court documents.

Prominent property management companies that agreed to settle include Simpson Property Group, Avenue5, Bell Partners, Bozzuto, Pinnacle and Winn.

Plaintiffs have reached 26 class settlements worth more than $141.8 million combined, according to preliminary class-action settlements. The deal still requires a judge’s approval. Greystar will pay the largest amount at $50 million.

RealPage has reached a settlement with the State of Nevada regarding its rent-setting software, which had used nonpublic data provided by clients to calculate price recommendations, allegedly driving rents artificially high. 

Nevada Attorney General Aaron Ford contended that the nonpublic information RealPage gathered resulted in rent recommendations that cut into competition and harmed Nevada tenants, per a press release. RealPage denies allegations of wrongdoing and decided to settle to avoid the costs and distraction of potential litigation.

New Jersey Attorney General Matthew J. Platkin and the state’s Division of Consumer Affairs have sued RealPage and 10 of the largest landlords operating in the state.

In the suit, filed in the U.S. District Court for the District of New Jersey, Platkin alleges that RealPage and the apartment operators engaged in multiple violations of the federal Sherman Act, the New Jersey Antitrust Act and the New Jersey Consumer Fraud Act.

Echoing other suits against RealPage, New Jersey accused the company and landlords of colluding to set rents for apartments statewide based on the company’s algorithmic pricing software and to exchange sensitive, non-public information to align their prices and avoid competition that would otherwise keep rent prices down. In the process, the plaintiffs alleged thousands of New Jerseyans have overpaid for rent.

The attorney general said renters throughout the state, which has some of the highest rental costs in the country, face a highly concentrated market, where individual landlords control thousands of apartments.

RealPage has sued the city of Berkeley, California, for passing an ordinance that it claims imposes a “sweeping and unconstitutional ban on lawful speech specifically intended to outlaw software products,” according to a filing in the United States District Court for the Northern District of California.

RealPage alleges that the ordinance was prompted by an “intentional campaign of misinformation and false claims” about its revenue management software. The firm seeks an injunction against the legislation, which it said was adopted based on inaccurate statements concerning the software.

Arizona Attorney General Kris Mayes sent a letter to U.S. Attorney General Pam Bondi urging her to continue the Department of Justice’s antitrust lawsuit against RealPage and several major corporate landlords for alleged collusion to illegally inflate rents.

Mayes, who filed a separate suit against RealPage and nine landlords last year, said that protecting renters from “price gouging and market manipulation” should be a bipartisan priority. Mayes said that housing affordability is one of the most pressing issues facing Americans, and it demands action from every level of government.

“I intend to press forward with the case I filed in Arizona against Real Page, but I also urge the Trump administration, through the DOJ, to see its case through. RealPage and its co-conspirators engaged in unfair and anticompetitive practices that forced families to pay artificially high rents at a time when many are struggling to get by,” Mayes said. “Addressing this issue is essential to making housing more affordable — not just in Arizona, but across the country.”

The Justice Department and attorneys general from 10 states filed an amended complaint in their antitrust lawsuit against data and software firm RealPage to sue six landlords for allegedly “participating in algorithmic pricing schemes that harmed renters,” according to a press release from the DOJ.

The complaint alleges the landlords participated in a scheme to decrease competition in apartment pricing. They are:

• Greystar Real Estate Partners
• Blackstone’s LivCor
• Camden Property Trust
• Cushman & Wakefield and its subsidiary Pinnacle Property Management Services
• Willow Bridge Property Co.
• Cortland Management

In addition to the amended complaint, the DOJ also filed a consent decree with Cortland that requires the company to cooperate with the government, stop using its competitors’ sensitive data to set rents and cease using the same algorithm as its competitors without a corporate monitor. If approved by the court, the consent decree would resolve DOJ’s claims against Cortland, and the firm would cooperate in the Justice Department’s investigation and litigation.

A federal judge has denied a request from 10 apartment operators and property management software company Yardi Systems to toss out an antitrust class-action lawsuit in the U.S. District Court for the Western District of Washington.

In the dismissal motion filed in December 2023, the defendants argued that the plaintiffs — two former tenants based in Washington state — didn’t have standing and were “attempting to manufacture a Sherman Act violation on the mere basis that 10 property management companies independently decided to use a revenue management product licensed by Yardi.”

In his decision to deny the dismissal, U.S. District Judge Robert Lasnik said, “The fact that the lessor defendants did not meet as a group but rather used an intermediary, Yardi, to compile their commercially sensitive data and calculate the supracompetitive rental rate each participant would utilize does not preclude the existence of an agreement or change its unlawful nature.”

A spokesperson for Yardi told Multifamily Dive that the company’s software never uses confidential competitor pricing data in its rent recommendations. Instead, it relies on its clients’ property data and publicly available housing market information to help apartment communities make individualized pricing decisions.

RealPage said that it received a letter from the U.S. Department of Justice saying that the DOJ was closing its criminal investigation into pricing practices in the multifamily rental housing industry.

In a statement, RealPage said it “extensively cooperated with the DOJ throughout its investigation” and was never identified as a target of the investigation throughout the process. 

RealPage is still facing a civil antitrust lawsuit filed in August by the DOJ and eight states, alleging an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market.”

Lawyers for RealPage asked on Dec. 3, 2024 that the U.S. District Court for the Middle District of North Carolina dismiss the antitrust lawsuit brought against it by the Department of Justice and eight states. 

In August, the DOJ and the states alleged that RealPage’s revenue management software is an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market.” The civil suit said that RealPage violated the Sherman Act, which prohibits unfair monopolies. 

RealPage pointed to class-action suits, now centered in the U.S. District Court for the Middle District of Tennessee, where it said the court rejected the theory that its revenue management system was a price-fixing conspiracy that is unlawful under antitrust laws in December 2023.

After the court rejected those allegations, RealPage said the DOJ pivoted to Sections 1 and 2 of the Sherman Act, which focus on anticompetitive behavior and monopolization. 

RealPage doesn’t deny that private information goes into calculating its pricing suggestions. However, it said that the data contributes to lower rents, not to higher housing prices as the Department of Justice and eight states asserted in a lawsuit filed in federal court in North Carolina.

Nonpublic information “yields lower advertised rents” than what would otherwise be suggested by RealPage, according to Stephen Weissman, an antitrust attorney for Gibson Dunn, who represents RealPage.

Weissman said much of the data that RealPage collects isn’t used in its pricing recommendations, which are weighted by public and private information that comes from signed lease prices. He said clients have no idea what competitive information is included in the mix. “We aggregate it and we anonymize it,” he said.

The Justice Department is planning a civil suit against RealPage for “collusive conduct in the rental housing market,” according to Politico. 

DOJ staff recommended a suit accusing RealPage of “selling software that enables landlords to illegally share confidential pricing information in order to collude on setting rents,” Politico reported. 

The DOJ is also considering a complaint focused on landlords’ ability to match vacancy rates, which essentially restricts supply at competing buildings, according to Politico. In late 2022, the DOJ’s antitrust attorneys reportedly opened a civil investigation into RealPage’s algorithm.

RealPage issued a statement that it said was intended to “correct factual inaccuracies” in the media and legal filings about the company’s revenue management software and its impact on renters. 

RealPage said that starting in October 2022, when a ProPublica exposé took aim at the company’s software, “false and misleading” statements have been made about the company and its software. “The time is now to address a number of false claims about RealPage’s revenue management software and how rental housing providers operate when setting rent prices,” Dana Jones, RealPage CEO and president, said in the statement. 

The company said that these claims threaten to undermine the benefits that RealPage’s solutions provide to renters and housing providers. The firm contends that its revenue management software contributes to a “healthier and more efficient rental housing ecosystem.”

The Department of Justice has opened a criminal investigation into RealPage and some of the large apartment owners and managers that use the company’s pricing software to determine if RealPage is facilitating price fixing, unnamed sources told Politico.

Politico, which did not name the owners and managers involved, called the criminal inquiry a “marked escalation of the probe” and said that the DOJ is concerned that RealPage’s software is being used as a shield for competitors to exchange sensitive pricing data that their rivals would otherwise be unable to access.

The Department of Justice and the Federal Trade Commission filed a brief in the antitrust case involving Yardi Systems and multiple landlords in the Western District of Washington, arguing against a motion to dismiss.

In the case, a plaintiff accused Yardi and 18 landlords of unlawfully agreeing to use the software and data company’s pricing algorithms “to artificially inflate” apartment rents. In December 2023, the defendants filed a motion to dismiss, claiming that landlords’ retention of some pricing discretion invalidated any price-fixing claim.

In the brief, the DOJ and FTC, which enforce federal antitrust laws, argued that competitors must not agree to advertised list prices, even if actual rents vary from that starting point. “Moreover, where competitors agree to fix end prices, such price-fixing agreements are per se unlawful regardless of whether the conspirators adhere to or enforce compliance with the fixed prices,” the filing said.

Arizona Attorney General Kris Mayes announced a lawsuit against RealPage and nine apartment landlords for allegedly conspiring to illegally raise rents for hundreds of thousands of renters in the Phoenix and Tucson metro areas.

The state of Arizona alleged that RealPage’s revenue management software compiles competitively sensitive lease data on pricing and occupancy. The software and analytics firm then directs the landlords on which apartments to rent out and at what price, according to the complaint.

Mayes said that RealPage’s alleged conspiracy with the nine landlords violated both the Arizona Uniform State Antitrust Act and the Arizona Consumer Fraud Act. The antitrust law prohibits conspiracies in restraint of trade and any attempts to establish monopolies to control or fix prices, while the consumer fraud statute makes it unlawful for companies to engage in deceptive or unfair acts or practices or to conceal or suppress material facts in connection with a sale.

The companies named are:

• Apartment Management Consultants
• Avenue5 Residential
• BH Management Services
• Camden Property Trust
• Crow Holdings, L.P./Trammell Crow Residential
• Greystar Management Services
• HSL Properties
• RPM Living
• Weidner Property Management

In a court filing in which plaintiffs allege apartment operators shared competitively sensitive information using RealPage’s revenue management software, the plaintiff’s lawyers told the court they reached a settlement agreement with Pinnacle Property Management Services, owned by real estate services firm Cushman & Wakefield, and were working on finalizing the agreement.

Attorneys for the renters and Apartment Income REIT, more commonly known as AIR, reached a settlement to resolve all plaintiff claims against the company.

A federal judge has rejected RealPage’s request to dismiss an antitrust suit brought against it by a group of multifamily tenants, ruling the tenants showed enough cause for RealPage to confront the claims in court. However, the court did grant a motion to dismiss a similar student housing antitrust suit.

In the decision rejecting RealPage’s request, Chief U.S. District Court Judge Waverly Crenshaw was skeptical about multifamily operators’ motivation for sharing information with RealPage. 

Crenshaw wrote that the plaintiffs’ most persuasive evidence of an agreement between RealPage and the property management companies was that the apartment operators handed over their “proprietary commercial data” to RealPage. When they did this, they knew that RealPage would require the same action from their competitors, and it would then use that data to suggest rental prices.

The Department of Justice said that the antitrust case against RealPage and a number of apartment operators should move forward and that apartment operators’ use of a shared algorithm is illegal under the per se rule of antitrust law, assuming the allegations against the company are true, according to The Wall Street Journal.

“The alleged scheme constitutes price fixing regardless of whether the competing landlords ever communicated with one another about prices,” DOJ lawyers wrote in a court filing.

In addition to weighing in on the Tennessee case, the DOJ’s antitrust division is investigating RealPage’s business practices.

Washington, D.C., Attorney General Brian Schwalb has brought suit against RealPage and 14 landlords, accusing them of “unlawfully colluding” by collectively adopting the rents set by RealPage’s technology and “unlawfully agreeing to exchange competitively sensitive data in violation of the District of Columbia Antitrust Act.”

By using RealPage’s revenue management system, landlords inflated the rents in thousands of apartments across the District, which caused renters to pay millions of dollars above what they would have, according to the lawsuit filed in the Superior Court of The District Of Columbia. The defendants “extracted these inflated rents by agreeing to delegate their price-setting authority to a centralized entity — RealPage — rather than competing on price,” the suit said.

Schwalb accused the 14 companies of agreeing in writing to share “competitively sensitive data,” including signed lease rents, to feed RealPage’s software. He claimed the company policed these contracts, and landlords abided by its suggested rents more than 90% of the time. If the market were truly competitive, he said the defendants would “keep their pricing strategies confidential.”

Washington state resident Mckenna Duffy has filed an antitrust class-action lawsuit against property management software company Yardi Systems and 18 apartment managers.

In the lawsuit, Duffy accused Yardi and the management companies of orchestrating a nationwide scheme to fix the cost of multifamily apartment rent. It contends that Yardi exchanged competitively sensitive and non-public information with clients through its automated pricing software, Revenue IQ (formerly RENTmaximizer) and that defendants engaged in direct conversations with their competitors about pricing through market surveys. It also implies that there were opportunities for collusion at the Yardi Advanced Solutions Conferences and social events for its customers.

The lawsuit alleges that competing management companies essentially outsourced pricing decisions and unit supply to Yardi by using the company’s software, which “eliminated competition between the companies.” Instead of competing for customers by offering discounts, the plaintiffs relied upon Yardi’s software, which led to companies aggressively raising rents, the suit said.

Executives at two of the REITs involved in the class-action litigation surrounding RealPage’s pricing model, which was filed in 2022, recently shared updates with their investors about how they view the suit.

Essex Property Trust President and CEO Angela Kleiman defended her company against the lawsuit brought by tenants in California and Oregon. “We believe that their claim is without any merit, and we’re very confident about our defense prospects,” she said during the firm’s first-quarter earnings call.

Equity Residential CEO Mark Parrell indicated that a small part of the company’s increase in litigation reserves was related to the RealPage suits. “The reason for that is the case is in its early stages, and you should think about that going on for a longer period of time,” he said during the company’s earnings call. “[Lawsuits] aren’t resolved in weeks or months. It’s more like years.”

In a letter, four senators urged U.S Assistant Attorney General Jonathan Kanter to direct the Department of Justice to ensure that renters “do not fall victim to corporate landlords and anti-competitive forces.”

The group of senators, which includes Elizabeth Warren (D-MA), Tina Smith (D-MN), Bernie Sanders (I-VT) and Edward J. Markey (D-MA), recently completed an investigation of RealPage’s YieldStar product to determine how the software affects the rental market. 

“Given these findings, the DOJ should act to protect American families and closely review rent-setting algorithms like YieldStar to determine if they are having anti-competitive effects on local housing markets that have seen increased institutional investor activity,” the senators said in the letter.

The Department of Justice’s Antitrust Division has launched an investigation to determine if RealPage’s software helped apartment operators coordinate rent prices, according to a report from ProPublica. 

The investigation comes after three senators — Subcommittee Chair on Competition Policy, Antitrust and Consumer Rights Amy Klobuchar (D-MN), Dick Durbin (D-IL) and Cory Booker (D-NJ) — sent a letter asking the Antitrust Division to investigate “recent allegations of anticompetitive collusion leading to significant increases in rents for apartments.” 

In the letter, the Democratic senators said they were concerned that RealPage’s software “essentially amounts to a cartel to artificially inflate rental rates in multifamily residential buildings.” They also expressed reservations about the RealPage User Group — a forum of more than 1,000 RealPage clients that work together on things like revenue management and screening.

A University of Washington student has filed a lawsuit alleging collusion in the student housing market among some of multifamily’s biggest players.

The plaintiff, Gabriel Navarro, who filed the suit in the U.S. District Court for the Western District of Washington in Seattle, claims there was an unlawful agreement among student housing managers to “artificially inflate the prices of student housing across the United States,” including in Seattle; Ann Arbor, Michigan; and Gainesville, Florida.

Five renters – three in California and two in Washington state – filed a class-action lawsuit in the U.S. District Court for the Southern District of California against RealPage and some of the largest property management firms in the country, alleging antitrust violations under the Sherman Act. 

Among other things, they accuse property managers of sharing “competitively sensitive information with one another” by using RealPage as a conduit.