Greystar, the Largest US Landlord, to Pay $7M to Settle Rent-Setting Algorithm Lawsuit

Greystar, the nation’s largest landlord, has reached a $7 million settlement with nine states that sued the property management giant for using rent-setting algorithms that officials have blamed for driving up housing costs.

The proposed settlement, filed Tuesday in a North Carolina federal court, is the latest to result from antitrust lawsuits targeting RealPage and similar software companies. Prosecutors argue the products help rival property managers illegally align prices and push up rents. A judge must still approve the deal.

Read more at AP News