Greystar Reaches Deal in US Justice Department’s Rental Market Collusion Case

Greystar Real Estate Partners LLC reached a tentative settlement with the Department of Justice in an antitrust lawsuit accusing the landlord of colluding to increase rents across the US, in part, through widely used industry software.

As part of the deal, Greystar is barred from generating pricing recommendations derived from algorithms using competitively sensitive data, sharing competitive information with competitors and must cooperate in the government’s case against the rental market software and data company RealPage Inc.