RealPage rent-pricing case wraps with nearly $360M to renters
The gist
Judge Waverly Crenshaw gave final approval to $359.9 million in settlements between renters and 41 landlords.
Claims against RealPage itself and non-settling landlords continue in the same case.
How it unfolded
- Oct 2022Litigation against RealPage began after a ProPublica article detailed how its YieldStar software could inflate rents and suppress competition.
- Late 2022–early 2023Class-action lawsuits were filed against RealPage and about 50 of the largest apartment owners and operators.
- Apr 2023The cases were centralized into a single action.
Key terms
- antitrust law
- Laws that regulate business conduct to promote competition and prevent monopolies and collusive practices.
- Class-action lawsuits
- A lawsuit in which one or a few people sue on behalf of a larger group of similarly situated parties.
- consent judgment
- A court-approved settlement between parties that resolves a dispute without an admission of guilt.
Source: Wikipedia