Rent Relief: New Jersey Takes RealPage and Landlords to Task Over Collusive Rent Hikes

New Jersey Attorney General Matthew Platkin has filed a lawsuit against property management software firm RealPage and 10 of the state’s largest landlords, alleging collusive rent hikes that violate federal and state antitrust laws.

The complaint claims that RealPage’s revenue management software and algorithms were used to inflate rents for apartments in multifamily properties, while defendants shared non-public data to align pricing and avoid competition, driving up rents. This has resulted in inflated rents for hundreds of thousands of residents, with half of low-income renters paying more than 30% of their gross incomes toward rent, exceeding the recommended 30% limit.

RealPage’s Complicity

As the property management software firm at the center of this controversy, RealPage has been accused of providing tools that facilitate collusion among landlords, contributing to the state’s rent crisis. The lawsuit aims to put an end to this alleged pattern of collusion and restore fairness to the rental market. If successful, it could lead to significant changes in landlord operations and bring relief to low-income renters struggling with rising rents.