Real Page Antitrust Litigation

22 Mar, 2023

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What is the case about?

Mason LLP represents individual lessees/renters of apartments in multi-family apartment buildings with antitrust price-fixing claims against RealPage, Inc. and its property manager subscribers. 

Numerous proposed class action cases have recently been filed against RealPage and its subscribers, but Mason LLP is preparing to bring individual direct action claims on behalf of numerous individual lessors/renters outside of the class action cases. By pursuing the strategy of litigating these claims individually, Mason LLP will seek to maximize any potential recovery to each of the individual claimants.

This matter arises from an alleged unlawful antitrust price-fixing cartel directed at the U.S. market for multi-family property rentals believed to involve RealPage, Inc. (“RealPage”), a real estate data analytics and rent price setting company, and its subscribers which include the largest multi-family residential lessors/property managers in the United States. Beginning no later than 2016, RealPage allegedly facilitated a price-fixing cartel among its subscribers whereby RealPage fixed the lease prices and managed the output of its subscribers’ multifamily rental units on a day-to-day basis through the use of RealPage’s proprietary revenue management software currently referred to as “AI Revenue Management” (formerly referred to as “YieldStar”) resulting in unlawfully inflated lease prices paid by the lessors of apartments on multifamily residential buildings.

To this alleged price-fixing scheme, RealPage collects detailed non-public data from its subscribers, including highly sensitive up-to-the-minute lease pricing data that competitors would not ordinarily share with one another. RealPage then feeds its subscribers’ collective data, through its AI Revenue Management software, which then computes, on a daily basis, the specific rental rates for each of its subscribers’ rental units which RealPage requires its subscribers to comply with in order to maximize the rents charged.

It is further alleged that RealPage also uses its AI Revenue Management software to reduce the output of its subscribers’ available rental units by directing its subscribers to either hold back certain rental units from the market and/or to stagger their lease renewal dates throughout the month or year to avoid an oversupply in the market to further increase lease prices by limiting the supply of available units in the market.

Finally, RealPage purportedly facilitates collusion between its subscribers by providing them with ample opportunities to directly communicate with one another to further coordinate lease prices and market output by hosting an annual multi-day conference called “RealWorld” with over 1,000 attendees, by hosting “Summits” for its subscribers to discuss RealPage’s pricing software and other issues, by hosting a RealPage user group on its website with over 1,000 members by organizing a “Steering Committee” to lead various “User Group Subcommittees” and by hosting quarterly conference calls with its subscribers.

We believe that as a result of the above conduct, all renters of apartments in multi-family rental buildings managed by RealPage’s subscribers have been harmed by higher lease prices for their apartment rental buildings than would otherwise occur in a competitive market. 

How can I claim a refund?

Mason LLP represents hundreds of lessees who rented apartments from RealPage’s property manager subscribers who are listed below. RealPage advertises on its website that its revenue management software can help its subscribers “outperform the market 5% to 7%.”  In other words, by using RealPage to set their prices, the property managers could expect to charge 5-7% more than they could otherwise charge in a competitive market. Since the antitrust laws provide for treble damage, you could recover as much as 15-21% of the total rent you paid to any of RealPage’s property manager subscribers since 2016.   

If you would like to be represented by us on an individual basis and file a claim against RealPage and its property manager subscribers for recovery of the overcharges, here are the steps we would need you to take. 

1. First, please check the form to see if you rented from one of RealPage’s property manager subscribers:

2. Once you confirm you rented from one of RealPage’s property manager subscribers, please fill out the form at the top of this page to review and sign the retainer agreement.

3. Please be patient! This case is in the early stages and these types of cases can take several years to resolve. We will periodically keep you updated regarding the progress of your case and you may be contacted by one of our attorneys or a Client Support Specialist if we require more information. 

Our firm works on a contingency fee basis, which means that the payment of fees and costs is “contingent” upon whether we obtain any recovery on your behalf. If there is no monetary award, you will not be obligated to pay any attorneys’ fees or costs.  All details regarding this may be found in the retainer agreement.

There are absolutely no upfront or out-of-pocket fees or costs for retaining our firm

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