RealPage and roughly a dozen large New Jersey management firms operate as a “rent-setting cartel” to undermine competition and increase rent rates, the state alleged in an antitrust lawsuit filed Wednesday.
“The skyrocketing rental prices we’re experiencing in New Jersey are not the result of mere competition on market forces—what we’re seeing is the result of deliberate market manipulation,” New Jersey Attorney General Matthew J. Platkin (D) said in a press conference.
Software company RealPage and property management companies controlling tens of thousands of apartment units in the Garden State shared nonpublic information, which hampered pricing competition, the complaint filed ...
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