Real Estate Giant Greystar and 25 Other Companies Agree to $141M Deal to Settle Rent-Setting Lawsuit

Real estate giant Greystar and 25 other property management companies have agreed to collectively pay more than $141 million to settle a class action lawsuit accusing landlords of driving up housing costs by using rent-setting algorithms offered by the software company RealPage.

Greystar, the nation’s largest landlord, would pay $50 million under the proposed settlement agreement, which was filed Wednesday in a Tennessee federal court. The deal would still require a judge’s approval.

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