Justice Department proposes settlement with Greystar over rental market price coordination

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Jonathan Kanter Assistant Attorney General | Official website

Justice Department proposes settlement with Greystar over rental market price coordination

The Department of Justice’s Antitrust Division has filed a proposed settlement to resolve claims against Greystar Management Services LLC. The action is part of the department’s ongoing efforts to address algorithmic coordination and other anticompetitive practices in rental markets nationwide.

Greystar, which manages nearly 950,000 rental units, is alleged to have shared sensitive pricing data with other landlords. According to the complaint, Greystar and five co-defendants used RealPage’s algorithms to generate pricing recommendations and applied rules that aligned competitors’ prices. The complaint also states that Greystar and other landlords discussed topics such as rent strategies and parameters for RealPage’s software directly with each other.

“American greatness has always depended on free-market competition, and nowhere is competition more important than in making housing affordable again,” said Attorney General Pamela Bondi. “We will continue to vigorously pursue President Trump’s pro-consumer agenda.”

“The Trump-Vance Administration is committed to promoting competition to help working class Americans pay for life’s necessities — including rent,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “Whether in a smoke-filled room or through an algorithm, competitors cannot share competitively sensitive information or align prices to the detriment of American consumers.”

If approved by the court, the proposed consent decree would require Greystar to comply with specific conditions set forth by the Department of Justice.

The Tunney Act requires that the proposed settlement and a competitive impact statement be published in the Federal Register. Interested parties may submit written comments within 60 days after publication. Comments should be sent to Danielle Hauck, Acting Chief of the Technology and Digital Platforms Section at the Antitrust Division. After this period, the U.S. District Court for the Middle District of North Carolina may approve the final judgment if it determines it serves the public interest.