Department of Justice opens investigation into real estate tech company accused of collusion with landlords

, the Minnesota Democrat who chairs the Senate Subcommittee on Competition Policy, Antitrust and Consumer Rights.RealPage’s software works by collecting information from property managers who are the company’s clients, including what rents they are able to charge tenants. That information is fed into an algorithm that then recommends prices daily for each available apartment.

RealPage’s then-CEO, Steve Winn, said the $300 million purchase would allow RealPage to double the number of apartments it was pricing, from 1.5 to 3 million units. Merger review guidelines used by both the DOJ and FTC say the agencies “normally evaluate mergers based on their impact on customers,” which include both direct customers and final consumers. But the paralegal said the investigation did not involve talking to tenant advocates or renters.

The investigation fell at a time when the DOJ’s Antitrust Division was preparing to sue to block a proposed merger between AT&T and Time Warner, which promised to take up a lot of the division’s resources. “It was a resource constraint issue he was trying to balance,” the source said of Makan Delrahim, the former assistant attorney general charged with overseeing the division at the time. In addition, RealPage did not have the same reach then as it does today, the source said.

propublica After everything landlords went thru during covid and losing money the way they did.....I'm surprised they ain't charging more than what they are

propublica It is and may it’s users gets sued!

AllysonOtten propublica Wow just wow

BaddCompani propublica Greed is once again showing it’s face. 😢😡

BaddCompani propublica U know the algorithm is spiking rents? Landlords⬆️rents further b/c it’s smoke &mirrors in a very fake industry standard—needs investigation,and reminds of ‘08 banks milking clients to intentionally blow-up mortgages SenWarren AGKarlRacine NewYorkStateAG DOJCrimDiv POTUS VP

BaddCompani propublica Uhhhh YAH it has!! Also, check out the corporate landlords jacking the housing market too, please! Thanks!🙂

propublica He moved his HQ to Texas to avoid taxation, fell in with far right fanatics who want less regulation and favors for litigation. Forcing Twitter to that viewpoint helps him and his buds. Follow the money. The rest is gaslighting click-bait. Be a real journalist. leave twitter.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump talks with white nationalist Nick Fuentes at Mar-a-Lago dinnerNEW: Trump dined and conversed with white nationalist Nick Fuentes and rapper Ye at his Mar-a-Lago resort on Tuesday night, according to two sources familiar with the matter. Based Trump 🚂 🤮
Source: axios - 🏆 302. / 63 Read more »

The DOJ is reportedly investigating rent-setting software company RealPageThe company has been accused of driving up rent. Liberals are always trying to destroy good things.
Source: verge - 🏆 94. / 67 Read more »

DOJ Won Antitrust Victory by Arguing Publishing Merger Would Harm Top AuthorsThe DOJ used an unusual legal strategy to stop the merger of two major publishing houses — with help from Stephen King. Hi there, I see that the window to apply for your fellowships has closed but I’m wondering if you’re still taking applicants. I just found out about these. 🤞🏽
Source: truthout - 🏆 69. / 68 Read more »

Trump braces: Tax returns going to Congress as Pence mulls DOJ interviewThe Supreme Court allowing Trump’s elusive tax returns to be turned over to Congress. Trump lashing out, slamming the Supreme Court for the decision writing “Shame on them!”. It comes as The New York Times reports the Department of Justice is seeking to question Mike Pence in its January 6th criminal investigation. The Times reporting Pence is open to considering the request. Former federal prosecutor Renato Mariotti and “The Guardian” reporter Hugo Lowell join “The Beat.” They throw out executive privilege like rice at a wedding. 🙄
Source: MSNBC - 🏆 469. / 51 Read more »

Mentor-on-the-Lake Fire Department: Woman drives car off road into Lake ErieAccording to Mentor-on-the-Lake Fire Department, a woman drove her car off the road into Lake Erie Friday morning. Put that Toyota in rice overnight and it will run fine tomorrow morning HOW? I think there are easier ways of getting a car washed.
Source: cleveland19news - 🏆 70. / 68 Read more »

Navigator receives Department of Labor AwardENTERPRISE — Navigator Development Group Inc. has been honored by the U.S. Department of Labor for the fifth consecutive year with a 2022 HIRE Vets Platinum Medallion Program Award. Navigator
Source: dothaneagle - 🏆 337. / 59 Read more »