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Oregon and Washington join the government in accusing real estate companies of artificially inflating rents


Oregon and Washington join the government in accusing real estate companies of artificially inflating rents

Oregon and Washington, along with six other states and the federal government, have joined an antitrust lawsuit against real estate company Real Page, accusing the company of using data to artificially inflate rental prices.

The lawsuit alleges that the real estate software company and landlords illegally colluded to increase their profits by using an algorithm to increase rents.

Real Page is said to have examined data showing what fees or offers competitors are charging to maximize the amount landlords can receive from tenants.

U.S. Department of Justice officials say the algorithm developed by the company violates antitrust laws.

“Americans should not have to pay more rent just because a corporation found a new way to conspire with landlords and break the law,” said U.S. Attorney General Merrick Garland.

Oregon Attorney General Ellen Rosenblum sent KATU a statement saying, in part, “At a time when housing affordability is a paramount concern for Oregonians – and for countless Americans outside our state’s borders – the issues of fairness and competition could not be more important.”

Real Page’s software is used to manage three million rental units across the United States, including in Oregon and Washington.

“The Justice Department’s demands are baseless and do nothing to make housing more affordable,” Real Page said in a statement.

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