RealPage, a rent-fixing software company, is currently under FBI investigation for allegedly inflating real estate rental prices across the US. The company is accused of using an algorithm that collects data on renters, vacancy, and showings to push rents higher by enabling landlords to collude. Multiple lawsuits have been filed against RealPage, highlighting its role in artificially inflating rental prices. Maureen Tkacik from American Prospect has reported on these issues. Additionally, RealPage is criticized for apps that impose bogus fees and monetize vacant apartments, contributing to toxic property bubbles.
'RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.' #ThomaBravo https://t.co/vShMttIaz9 https://t.co/Nt69JyIQ9F
This week on the Prospect Weekly Roundup, @ddayen and @moetkacik discuss RealPage, the rent-fixing software company currently under FBI investigation, Synapse and the fintech collapse, the AI hype and more. We'll be live in just one hour at 12:30PM ET! https://t.co/fVoECwKmLU
A look at the many lawsuits against RealPage, the rent-fixing software company accused of artificially inflating the real estate rental prices across the US (Maureen Tkacik / American Prospect) https://t.co/AirT3aCpev https://t.co/ckyBKQB2fm
Interesting lawsuit about RealPage's apartment pricing algorithm. The allegation: landlords are colluding to push rents higher by using the same algorithm to price each unit. RealPage is collecting data on renters, vacancy, showings, etc across the market & using that to… https://t.co/nYYps0Ab1q
There is real fraud that is hurting apartment investors Potential tenants are using fake information to lease units It costs (tens of) thousands in legal fees and lost income to get the unit vacated again ▪️The most common is fake pay stubs, employment references, or other… https://t.co/MbDGr3FsPy