New Jersey sues RealPage and 10 landlords for rent-fixing collusion
New Jersey sued RealPage and 10 major landlords, alleging they used revenue management software and algorithms to fix rental prices and exchanged confidential pricing data in violation of antitrust laws. The state claims the conspiracy inflated rents for hundreds of thousands of residents.
What happened
On April 23, 2025, New Jersey Attorney General Matthew Platkin filed an antitrust lawsuit against RealPage and 10 corporate landlords alleging they conspired to drive up residential rents throughout the state. The defendants named were Morgan Properties Management Company, AvalonBay Communities, Kamson Corp., LeFrak Estates and its subsidiary Realty Operations Group, Greystar Management Services, Aion Management, Cammeby's Management Co. of New Jersey, Veris Residential, Russo Property Management and Bozzuto Management Company.
According to the complaint, the defendants used RealPage's revenue management software and algorithms to inflate rents for apartments in multifamily properties. The state said they exchanged non-public data such as lease prices, amenities, concessions offered, property values and housing inventory to align pricing and avoid competition.
Reported impact
The state said the collusion inflated rents for hundreds of thousands of residents, with half of low-income renters paying more than 30% of their gross incomes toward rent. Attorney General Platkin stated the defendants 'unlawfully lined their pockets at the expense of New Jersey renters who struggled to pay the increasingly unlivable price levels imposed by this cartel.'
Index analysis
RealPage's software allows landlords access to private data to compare prices. The company has been sued by multiple states and the U.S. Department of Justice on similar allegations.
Governance controls
RealPage has denied that its software allows landlords to collude and set higher prices, stating the software is designed to comply with housing laws. The company said its pricing software sometimes recommends lowering rents instead of raising rents and leaves decision making to landlords.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.