The US Justice Department has filed an antitrust lawsuit against six major landlords, accusing them of using algorithmic pricing schemes to harm renters. The landlords, Greystar, LivCor, Camden, Cushman, Willow Bridge, and Cortland, manage over 1.3 million units across 43 states and the District of Columbia. The lawsuit alleges these landlords shared sensitive pricing and occupancy data through common algorithms, effectively setting rents collectively. Cortland, managing over 80,000 units in 13 states, has agreed to a settlement requiring cooperation with the government, cessation of using competitors’ data for rent setting, and stopping the use of the same pricing algorithms without oversight. The FBI raided Cortland’s Atlanta office in May 2024 as part of a related criminal investigation. The amended complaint also mentions discussions among landlords about “price fixing laws,” indicating awareness of potential legal issues.
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