The Colorado House has passed a bill restricting the use of algorithms in setting rent prices, aiming to prevent landlords from collectively increasing rents. RealPage, a major algorithm user, prioritizes landlord profits over vacancy rates. The FTC is cracking down on illegal practices, including algorithmic collusion by landlords.
“Price fixing through an algorithm is still price fixing” A key principle in the age of AI. https://t.co/ameEfRMNpW
BREAKING: The Colorado House has just passed a bill limiting the use of algorithms for determining rent prices, per MorePerfectUnion.
It's illegal for landlords to collude on rental prices. And using digital algorithms is no exception. Glad to see the @FTC taking action against landlords using illegal, predatory practices that target and harm working families. https://t.co/Yjl8n9sneA
RealPage, one of the leading companies that uses algorithms to make landlords more money, explicitly says that it's okay if raising the rent makes vacancies go up, as long as landlords make more money. Ban them everywhere. https://t.co/QrpQEZNLah
BREAKING: The Colorado House has just passed a bill limiting the use of algorithms for determining rent prices. If the bill becomes law, it will be the first of its kind in the country. Algorithmic tools let landlords conspire to collectively raise rents.