CDT has submitted comments to the Department of Justice (DOJ) regarding its antitrust enforcement action against RealPage. The DOJ accuses RealPage of running an algorithm-driven price-fixing scheme that allegedly inflated apartment rental prices nationwide. CDT's comments support the DOJ's proposed consent decree with Cortland Management, a major apartment landlord co-defendant.
The DOJ charges allege that landlords involved in the scheme provided confidential data on their rental prices and availabilities to RealPage. This data was combined to calculate recommended rental prices, which participating landlords reportedly followed.
Cortland Management has agreed to settle with the DOJ. As part of the settlement, Cortland will end its involvement with RealPage, refrain from coordinating on rental prices, submit to monitoring by the DOJ, and assist in ongoing investigations and enforcement actions. Cortland is one of the largest apartment managers in the U.S., managing over 80,000 units across more than 220 properties as of 2024.
Under the Antitrust Procedures and Penalties Act, any proposed antitrust consent decree must be published by the DOJ for public comment over a 60-day period. The court will then decide if the decree serves the public interest before entering it as a final judgment for the settling defendant.
CDT's comments express their view that "the proposed consent decree is in the public interest."