The state of New Jersey is taking legal action against landlords and companies that engage in what the state’s Attorney General alleges is illegal rent fixing.
The state of New Jersey is suing 10 of the state’s largest landlords and the property management software company RealPage Inc., reports Dana DiFilippo in New Jersey Monitor.
The lawsuit stems from allegations that the software allows landlords to artificially inflate rent prices and manipulate the market. The algorithmic software lets landlords align prices to avoid competition and force renters to pay higher prices overall. According to the state’s Attorney General, this violates the federal Sherman Act, the New Jersey Antitrust Act, and the New Jersey Consumer Fraud Act. The AG accused the companies of ““unconscionable business practices that deceive and mislead consumers into believing the rental prices that they charge are market rate.”
The lawsuit alleges that the companies share confidential information to feed an “anticompetitive algorithm” that raises prices, amounting to a rent-setting cartel. “The U.S. Department of Justice filed a similar antitrust lawsuit against RealPage last year, and several private class-action lawsuits also have targeted the company’s software and practices.” Other cities and states are similarly raising the alarm and considering legislation to regulate rent-setting algorithms.
Read the full story: New Jersey sues landlords, software company over rent-fixing claims
Jersey City Latest to Ban Rent-Setting Algorithm
Officials say the software offered by RealPage ‘magnifies’ the potential for price gouging.
Settlement in Multi-state Lawsuit Will Impose Strict New Limits on Rent-setting Algorithms
Nine states charged company Greystar with artificially driving up rent costs through data sharing and rent-setting algorithms.
Indianapolis rents grew by 30% since 2020
The metro area has a shortage of roughly 137,000 affordable homes for the lowest-income households.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Chicago breaks ground on $3 billion megadevelopment
The new neighborhood, titled Foundry Park, will one day host 3,700 residences.
Satanic Place Names
From streams and lakes to valleys and canyons, I mapped more than 1,000 places named after the Devil.
California High-Speed Rail Authority CEO resigns after $600,000 scandal
Under Ian Choudri, the authority used taxpayer dollars to fund first class flights and trips to nightclubs.
Want to study the Missouri River? Soon, you may need unanimous approval from 10 states
Legislation would require 10 governors’ permission to study or build projects moving water outside the basin.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority