CCMS filed suit against RealPage Inc. and many of the nation’s largest multifamily residential property managers and serves on the Plaintiffs’ Steering Committee in In re RealPage Inc. Rental Software Antitrust Litigation (No. II). The Plaintiffs are apartment renters who allege that RealPage contracted with landlords who shared nonpublic, competitively sensitive information—such as rental rates, discounts, and lease terms—to operate RealPage’s AI-driven revenue management software. RealPage’s software used this data to generate pricing and leasing recommendations, resulting in higher rents and reduced competition.
The lawsuits claim this coordination reduced competition, drove rents to supracompetitive levels nationwide, restricted the housing supply, and harmed renters by depriving them of the benefits of a competitive rental market.
More than twenty defendants have reached settlements with the Plaintiffs, and the Court has preliminarily approved settlements totaling more than $141million and providing significant cooperation and injunctive relief. For more information, including the opportunity to register to receive notifications when the claims process begins, please visit the settlement website at https://realpagerentalsettlement.com/.