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Greystar settles $7 million lawsuit over rent-setting algorithm
Greystar, the nation's largest landlord, settled a $7 million multistate antitrust lawsuit alleging it used RealPage rent-setting software to illegally align prices with competitors and inflate housing costs. As part of the settlement, Greystar agreed to stop using the software.
20 November 2025 · Greystar Management Services LLC · Governance, accountability and labour
Greystar, the nation's largest landlord managing over 946,000 units, used rent-setting software sold by RealPage that drew on other landlords' confidential data to set rents across its properties. Prosecutors alleged that the algorithm helped competing property managers illegally align prices and drive up housing costs.
Nine states sued Greystar for using the software in this manner. Greystar reached a $7 million settlement with the states, filed in a North Carolina federal court, and agreed to discontinue use of the software.
Reported impact
Tenants reportedly paid inflated rents for years as a result of the algorithm's use. The settlement was intended to address a housing affordability crisis.
Index analysis
The algorithm operated by sharing proprietary landlord data behind the scenes and providing daily rent recommendations, allowing competitors to align pricing strategies and eliminate competition.
Governance controls
A judge must still approve the settlement deal. Separately, the Department of Justice reached a nonmonetary agreement with Greystar in August to halt similar practices, and the company settled a $50 million class-action lawsuit over its use of RealPage.