Ten New Jersey landlords colluded with software company RealPage to increase rent prices throughout the state, authorities said Wednesday.
RealPage uses controversial software that allows landlords access to private data to compare prices. The company has been sued by multiple states and the U.S. Department of Justice.
The New Jersey landlords and RealPage “unlawfully lined their pockets at the expense of New Jersey renters who struggled to pay the increasingly unlivable price levels imposed by this cartel,” New Jersey Attorney General Matthew Platkin said in a statement.
The ten corporate landlords named in the antitrust lawsuit are 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.
Authorities said the ten companies own tens of thousands of properties throughout New Jersey and all use RealPage and its software.
In the face of several lawsuits and nationwide outrage, RealPage has denied that its software allows landlords to collude and set higher prices. But back in 2022, company executives spoke about “never before seen” numbers that its software was “driving.”
The fate of the federal suit against RealPage remains unclear. While former President Joe Biden’s administration was relatively aggressive with antitrust lawsuits, current President Trump has dramatically overhauled the Justice Department.
