- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
- A group of lawsuits accuse large landlords of price-fixing the market rate of rent in the United States
- A complaint filed by Washington D.C.’s Attorney General alleges 14 landlords in the district are sharing competitively sensitive data through RealPage, a real estate software provider
- RealPage recommends prices for roughly 4.5 million housing units in the United States
- RealPage told CNBC that its landlord customers are under no obligation to take their price suggestions
A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes.
“We’ve been told as tenants by employees of Equity that the software takes empathy out of the equation. So they can charge whatever the software tells them to charge,” said Kevin Weller, a tenant at Portside Towers since 2021.
Tenants say the management started to increase prices substantially after giving renters concessions during the Covid-19 pandemic.
As I stated at the top of the thread, nobody builds condos in cities anymore because they don’t make enough money to beat the market. If I’m rich enough to build a skyscraper it better have better returns than buying an s&p etf. This is the key issue for cities. If you block corporate landlordship, they won’t build condos instead. They will build nothing at all and invest in other stuff.