Texas-based RealPage’s YieldStar software could be raising rents in Denver – Axios

If your rent is suddenly sky high, an algorithm could be to blame.

Driving the news: A North Texas-based company is contributing to rising rents in cities across the country, including metro Denver, a new ProPublica investigation reveals.

• RealPage’s proprietary YieldStar software has helped some of the nation’s largest landlords set steep prices for properties nationwide using an algorithm that takes into account specific apartment features, like floor plans, the report says.

Why it matters: The investigation is catching the attention of some local leaders, and raising questions among legal experts nationwide about whether the company could be colluding with landlords to indirectly fix rent prices — potentially violating federal law.

What they’re saying: RealPage “does not facilitate anticompetitive conduct” and can’t “move markets up or down,” a company representative told Axios Denver.

• The company “can only recommend rental prices within the range that the economic forces of…

Read Full Story: https://www.axios.com/local/denver/2022/10/19/texas-software-company-rising-rent-algorithm-denver

The post Texas-based RealPage’s YieldStar software could be raising rents in Denver – Axios first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/10/19/texas-based-realpages-yieldstar-software-could-be-raising-rents-in-denver-axios_2022101933683.html

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