02-06-2025
DC attorney general inks first settlement in RealPage price-fixing lawsuit
June 2 (Reuters) - The District of Columbia attorney general's office has secured its first settlement in a lawsuit accusing landlords and technology company RealPage of conspiring to inflate rental prices.
The preliminary settlement, opens new tab with Washington apartment property manager William C. Smith & Co was disclosed on Monday in the Superior Court of the District of Columbia, and requires court approval.
The District's lawsuit in 2023 was the first in a string of cases against RealPage by state attorneys general accusing landlords of keeping rental prices high through the use of a RealPage revenue management platform.
In a statement, D.C. Attorney General Brian Schwalb on Monday said some of the city's landlords "operated as a housing cartel — illegally colluding to push rents even higher."
William C. Smith & Co inflated rents at more than 9,300 apartment units across the city, according to Schwalb's office. The settlement would restrict William C. Smith & Co from using and promoting any revenue management software that relies on non-public or confidential data from rival companies.
William C. Smith & Co in a statement said settling the lawsuit will allow the company to focus on its core business and to avoid what it called "considerable and unnecessary legal expenses."
RealPage, William C. Smith & Co and other defendants in the lawsuit have denied any wrongdoing. RealPage did not immediately respond to a request for comment.
Schwalb's lawsuit alleged 14 landlords agreed to share competitively sensitive data with RealPage and collectively used rents set by the company's revenue management technology.
The city contends the scheme drove up rental prices at more than 50,000 units in the District, in violation of the District's antitrust law.
A monthly report from W.C. Smith in 2022 showed the company had increased revenues per unit by 4.6-4.7% despite decreased occupancy levels, according to the lawsuit.
Other apartment managers in the lawsuit include Greystar, the largest apartment owner in the United States. Greystar did not immediately respond to a request for comment.
RealPage and other property managers face parallel federal litigation in the federal court in Nashville, Tennessee. Some other state attorneys general also separately are pursuing lawsuits against the company.
The case is District of Columbia v RealPage et al, District of Columbia Superior Court, No. 2023-CAB-6762.
For plaintiff: Adam Gitlin of the D.C. attorney general's office, and Emily Levens of Cohen Milstein Sellers & Toll
For William C. Smith & Co: W. Todd Miller and Lucy Clippinger of Baker & Miller
Read more:
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New Jersey sues RealPage, says collusion with landlords drives up rents
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