This bill addresses the emerging issue of landlords and property managers using software, such as RealPage, that uses algorithms to compare rental rates across its database and suggest parallel price increases on the units it oversees. This practice effectively enables price fixing in the rental housing market, while skirting traditional price fixing laws.
If passed, this legislation would ban this anticompetitive practice.
The Attorney General is currently in litigation with entities who have allegedly engaged in this type of scheme: AG Campbell Joins Justice Department in Suing RealPage, Large Landlords, for Anticompetitive Algorithmic Pricing Scheme that Harms Renters.