Realpage algorithmic rent pricing antitrust case settles, paying nearly $360 million to tenants

The U.S. District Court for the Middle District of Tennessee approved the settlement agreement in the Realpage algorithmic rent pricing antitrust class action, under which defendant landlords will pay nearly $360 million to eligible U.S. tenants. The settlement covers tenants of properties that used Realpage's Revenue Management Solutions, Lease Rent Options, YieldStar, or AI Revenue Management between October 18, 2018, and November 21, 2025. The companies did not admit wrongdoing but agreed to stop providing non-public data to Realpage for pricing recommendations. Peter Carstensen, an antitrust expert at the University of Wisconsin-Madison, said whether these agreements can truly limit price coordination among companies remains to be seen.