Nevada Settles with RealPage in Rent Pricing Algorithm Dispute

Nevada Attorney General Aaron Ford announced a settlement with RealPage, a property management software firm accused of facilitating rent price fixing through its AI-enabled algorithms. The lawsuit alleged that RealPage's software allowed landlords to coordinate pricing, leading to inflated rents and reduced competition in the rental market. Under the settlement, RealPage denies wrongdoing but agrees to restrictions on its use of nonpublic data in rent recommendations, must provide annual compliance certifications, and will pay $200,000 to Nevada-based organizations supporting low-income tenants. The settlement also includes oversight provisions and the potential for Nevada to benefit from stricter terms if other ongoing multi-state lawsuits reach agreements. RealPage maintains that its software complies with legal standards and attributes rent increases to external factors like inflation and pandemic-related costs. Attorney General Ford emphasized his commitment to holding companies accountable for defrauding Nevadans and highlighted the importance of protecting renters from anti-competitive practices.