DoJ agrees to settle with RealPage in rent collusion software case

Last year, the Department of Justice filed an antitrust suit against software company RealPage, accusing it of manipulating the rental housing market and driving up prices. Now, the DoJ has announced a proposed settlement that would put limits on RealPage's ability to collect and use sensitive information gathered from landlords. Under the terms, though, RealPage would pay no damages and admit to no wrongdoing.

Texas-based RealPage’s software is said to manage over 24 million rental units globally. The DOJ’s original complaint accused the company of working with landlords who agree to share “nonpublic, competitively sensitive information” about rental rates and other lease terms. RealPage then uses that data to train algorithms for its YieldStar software, which generate pricing and other recommendations “based on their and their rivals’ competitively sensitive information,” according to the DOJ.

If approved by the court, the settlement would require ...