RealPage Federal Antitrust Class Action
In October 2022, Hausfeld LLP, Berger Montague PC, Lieff Cabraser Heimann & Bernstein, LLP, and Justice Catalyst Law, filed a federal antitrust class action against RealPage, Inc. (“RealPage”) and several of RealPage’s property management clients (the “Lessor Defendants”) (collectively, “Defendants”).
Plaintiffs allege that Lessors of rental units have coordinated to drive rents up to unprecedented levels, exacerbating the nation's affordable housing crisis.
The complaint asserts that Defendants, including those listed below, conspired to use RealPage’s so-called “revenue management” service to set rental prices and restrict the supply of available rental units in major metropolitan areas across the United States. Plaintiffs contend that by using this conspiracy to stifle competition, Defendants inflated rents to supra-competitive levels and unlawfully suppressed the supply of rental housing, injuring the plaintiffs and thousands of renters across the United States.
Defendant RealPage was a public company from 2010 until 2020, when it was purchased by private equity firm, Thoma Bravo, in a transaction that valued RealPage at approximately $10.2 billion. The Lessor Defendants are some of the largest owners and managers of rental real estate in the United States.
Counsel represents the plaintiffs who filed this suit, as well as a proposed class of similarly situated individuals who paid inflated prices for the rental of real estate from the Lessor Defendants and other clients of RealPage.
Who are the Lessor Defendants?
The Lessor Defendants include:
Avenue5 Residential, LLC Avalonbay Communities, Inc.
BH Management Services, LLC Bozzuto Management Company
Camden Property Trust; UDR, Inc. CONAM Management Corporation
Cortland Partners, LLC CWS Apartment Homes, LLC
Cushman & Wakefield, Inc. Equity Residential
Essex Property Trust, Inc. FPI Management, Inc.
Greystar Real Estate Partners, LLC Highmark Residential, LLC
Lincoln Property Co. MidAmerica Apartment Communities, Inc.
Mission Rock Residential, LLC Morgan Group, Inc
Morgan Properties, LLC Prometheus Real Estate Group, Inc.
RPM Living, LLC Sares Regis Group Operating, Inc.
Security Properties Inc. The Irvine Company, LLC
Thrive Communities Management, LLC ZRS Management, LLC
Have you been affected?
Hausfeld is directing its resources, knowledge, and experience to assist individuals who may have been impacted by Defendants’ rental housing cartel at any time between October 2018 and the present. If you reside in a building that is managed by one of the Lessor Defendants or another property management company that utilizes RealPage’s “revenue management” service to set rental prices, and would like to learn more, please contact Hausfeld at RealPage@hausfeld.com, or complete the form below, so we can further investigate your potential claim.