Vorgeschlagene Sammelklage wirft Mietpreisabsprachen durch Unternehmen vor, die die YieldStar-Software von RealPage in ganz Kanada nutzen

By Serah Louis:

*[…] YieldStar generates apartment pricing recommendations for landlords by reviewing market surveys, unit types, pricing categories and availability. RealPage said it leverages real-time lease-transaction data in order to respond to changes in supply and demand, meaning [recommended] rent changes could skew higher or lower.*

*However, the proposed lawsuit alleges that the software collects non-public pricing information that wouldn’t typically be shared amongst competitors, allowing landlords to “conspire” and “control” the prices of their rental units. It also claims it was a requirement or necessary expectation for the users of this software to accept the pricing recommendations.*

*And, as a result, renters had to either pay non-competitive rates or leave and find accommodation elsewhere, the proposed suit alleges.*

*RealPage recently stated it received notice the DOJ has closed its criminal investigation into pricing practices in the multifamily rental housing industry and the company will “continue to aggressively defend itself in the remaining, previously filed civil lawsuits.”*

*It is unclear whether this will have an impact on the civil antitrust suit filed by the DOJ and eight states. Like the Canadian case, the DOJ claimed RealPage contracts with competing landlords who agree to share “non-public, competitively sensitive information about their apartment rental rates and other lease terms” to run the software.*

*[…] The 15 companies named in the proposed suit are: RealPage Inc., Quadreal Property Group, Westcorp Property Management Inc., FirstService Residential Management Canada Inc., Associated Property Management (2001) Ltd., GWL Realty Advisors Residential Inc., M&R Property Management, Rhapsody Property Management Services Limited Partnership, Hollyburn Properties Limited, Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), Dream Unlimited Corp., Woodbourne Capital Management International LP, RIOCAN Real Estate Investment Trust, Choice Properties Real Estate Investment Trust and Tricon Residential Canada ULC.*

Good, fine the living shit out of them, insist they must drop *all* rentals by a given percentage or refund the artificially inflated difference to all previous renters.

Been dealing with real page and yieldstar for years. It’s every bit as bad as you hear.

Weird renewal offers of 7-months with 13% increases. Just an endless parade of new neighbors each month and old neighbors leaving so that the turnstile keeps churning but never all at once. Neighboring units that are intentionally vacant.