Word of landlords allegedly using RealPage software to collude with competitors to fix rent prices elsewhere in the region led many to wonder if the gimmick had any role in Montgomery County's skyrocketing apartment rents. Maryland Attorney General Anthony Brown now suggests it does, and has filed suit against the firm and several prominent landlords. Despite the openings of many new apartment buildings across the county, rents have only continued to rise amidst all of the new "competition." This violates the basic laws of supply and demand, and Brown says the Realpage software gave landlords a loophole to make collusion possible, by having the company fix the rents across the board.
“RealPage and the named landlords worked together to raise the cost of their apartments, making it hard for Maryland renters to put a roof over their heads,” Brown said in a statement. “Our Office is committed to holding landlords accountable so Marylanders can afford their rent.”
The firms Brown is accusing of using RealPage for the purpose of "colluding to illegally raise rents" for Maryland apartment dwellers are Morgan Properties Management Company, LLC; Bozzuto Management Company; Greystar Management Services, LLC; AvalonBay Communities, Inc.; UDR, Inc.; and Highmark Residential, LLC. Brown is seeking monetary damages for renters who were allegedly gouged by the use of RealPage, monetary damages for the State of Maryland, cessation of the alleged use of RealPage to fix apartment rents, and the appointment of a corporate monitor to ensure compliance by RealPage and the accused firms.
2 comments:
Expect more gouging, cheating, and stealing under trump (how do you think the Rs are going to fund that massive tax cut to the billionaires?). The level of corruption is and will be epic. Brace yourselves people!
And for those who didn't know or forgot: In 2022, the House of Representatives passed an anti-gouging bill, supported only by Dems. No Republicans voted to rein in the gouging going on. The bill was focused on gas price gouging ~ gas prices at the time averaged about $4.59/gallon. Just one example of the Rs working against Americans.
"The House voted Thursday to pass Democrats’ bill aimed at combating “price gouging” on gasoline.
The bill passed 217-207, with no Republicans voting for it and four Democrats voting against it: Reps. Stephanie Murphy (Fla.), Lizzie Fletcher (Texas), Kathleen Rice (N.Y.) and Jared Golden (Maine)...."
https://thehill.com/policy/energy-environment/3494387-house-passes-gasoline-price-gouging-bill/
Charming. Technology and the interwebs are truly a double-edged sword.
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