Your Apartment complex is probably being SUED for "Price Fixing" | RealPage Federal Class Action Lawsuit | Greystar Management
Here in Austin, rent has become crazy and unsustainable. I'm currently suffering from this myself. But there may be some hope.
Many Landlords are being sued.
Major Multifamily-housing companies across the Country use a software from a company called RealPage.
The Texas-based software provider RealPage used algorithms to recommend rents to landlords across the country to maximize profits.
They also engage in a practice called "Staggering Lease renewals". By staggering lease renewals to “artificially smooth out” the natural imbalances of supply and demand, RealPage and the lessor defendants also cut out any incentive to undercut or “cheat” on eachother, the complaint adds.
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If you live at a property owned by any of the following companies, they are all currently being sued for Price Fixing - Here's the actual Lawsuit
- GREYSTAR MANAGEMENT SERVICES, L.P. - (Huge present in Austin)
- AVENUE5 RESIDENTIAL, LLC
- AVALONBAY COMMUNITIES, INC.
- BELL PARTNERS, INC.,
- BOZZUTO MANAGEMENT COMPANY
- CAMDEN DEVELOPMENT, INC.
- EQUITY RESIDENTIAL MANAGEMENT, LLC
- GABLES RESIDENTIAL SERVICES, INC.
- HIGHMARK RESIDENTIAL, LLC,
- JBG ASSOCIATES, LLC,
- MID-AMERICA APARTMENTS, LP
- PARADIGM MANAGEMENT II, LP
- UDR, INC.
- WILLIAM C. SMITH & CO., INC.
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Posted Feb 19, 2024, 8:25 PM UTC