RealPage
From Staff Reports Dallas-based Willow Bridge Property Co. is among the latest to be accused by the U.S. Department of Justice of using RealPage’s rent recommendation system to drive up rates and decrease competition. The DOJ lawsuit was filed in August; Willow Bridge and five other multifamily property companies were added to the civil antitrust…
Following a two-year investigation, the U.S. Department of Justice filed a civil antitrust lawsuit Friday against Richardson-based RealPage Inc., accusing the company of using an “unlawful scheme to decrease competition among landlords in apartment pricing” with its rental management software that landlords use to price apartments. “In a free market, these landlords would otherwise be…
Just reading the story is a jaw-dropper: ProPublica, the online independent, nonprofit newsroom that “produces investigative journalism with moral force” is saying that Richardson-based RealPage is using proprietary algorithms to help landlords raise rents, turn profits, and basically screw renters out of affordable housing. The algorithm, dubbed YieldStar, uses several strategies. According to the ProPublica report,…
D/FW leads the country in apartment demand during the recent quarter.
Despite predictions of widespread evictions because of economic distress caused by the pandemic, the apartment industry is weathering the storm, especially in the Dallas-Fort Worth market. So far, residents are making their rent payments on time. More than 87 percent of D-FW apartment households made a full or partial rent payment on time, according to…
